AtriCure, Inc.

The business, in plain English

AtriCure, Inc. booked $535M of revenue in FY2025 in the Healthcare sector and kept 75.0% of it as gross profit — a high-margin business by that measure. After every other cost, −2.1% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $54.5M (FY2009) to $535M (FY2025) — about 15.3% a year compounded over 16 years.

It earned −1.9% on invested capital in the latest filed year, FY2025. Across the full 17-year measurable filed record, median ROIC was −11.9%. Over the v3 recent window (10 measurable filed years), median ROIC was −7.6%. The Returns on Capital filter above scores it 0/100.

The balance sheet carried $61.9M of total debt in FY2025 against $33000 of owner earnings — roughly 1874.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 55/100.

Put together: Pricing Power is the strongest of the five filters (100/100) and Returns on Capital the weakest (0/100), which is how ATRC lands at 48/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.