Financial PerformanceATRC's gross, operating, and adjusted EBITDA margins were down 170 bps, 210 bps, and 120 bps Y/Y, respectively, with the gross margin decline driven by geographic and product mix.
Market ConcernsInvestors remain concerned with the potential impact of Medtronic's Penditure surgical left atrial appendage occlusion device on ATRC's US Appendage Management business.
Revenue GuidanceATRC lowered its FY24 revenue guidance, now expecting revenue in the range of $456M-$461M, driven by the shortfall of EPi-Sense revenue in Q2 and continued pressure expected through the rest of the year.