AtriCure (ATRC) 10-K 22 Feb 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	000-51470
Entity Registrant Name	AtriCure, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	34-1940305
Entity Address, Address Line One	7555 Innovation Way
Entity Address, City or Town	Mason
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45040
City Area Code	513
Local Phone Number	755-4100
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	ATRC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,851.6
Entity Common Stock, Shares Outstanding		46,568,044
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Items 10, 11, 12, 13 and 14 of Part III of this Form 10-K incorporate information by reference from the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year covered by this Form 10-K.
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001323885

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Cincinnati, Ohio

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 58,099,000	$ 43,654,000
Short-term investments	63,014,000	75,436,000
Accounts receivable, less allowance for credit losses of $230 and $1,096	42,693,000	33,021,000
Inventories	45,931,000	38,964,000
Prepaid and other current assets	5,477,000	5,001,000
Total current assets	215,214,000	196,076,000
Assets, Noncurrent
Long-term investments	51,509,000	104,338,000
Property and equipment, net	38,833,000	31,409,000
Operating lease right-of-use assets	3,787,000	4,761,000
Intangible assets, net	39,339,000	42,992,000
Goodwill	234,781,000	234,781,000
Other noncurrent assets	1,985,000	955,000
Total Assets	585,448,000	615,312,000
Current liabilities:
Accounts payable	19,898,000	18,597,000
Accrued liabilities	33,022,000	36,092,000
Other current liabilities and current maturities of debt and leases	5,472,000	1,756,000
Total current liabilities	58,392,000	56,445,000
Long-term debt	56,834,000	59,741,000
Finance lease liabilities	9,147,000	10,082,000
Operating lease liabilities	3,095,000	4,068,000
Other noncurrent liabilities	1,226,000	1,220,000
Total Liabilities	128,694,000	131,556,000
Commitments and contingencies (Note 10)
Stockholders’ Equity:
Common stock, $0.001 par value, 90,000 shares authorized; 46,563 and 46,016 issued and outstanding	47,000	46,000
Additional paid-in capital	787,422,000	764,811,000
Accumulated other comprehensive loss	(4,096,000)	(948,000)
Accumulated deficit	(326,619,000)	(280,153,000)
Total Stockholders’ Equity	456,754,000	483,756,000
Total Liabilities and Stockholders’ Equity	$ 585,448,000	$ 615,312,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit losses	$ 230	$ 1,096
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	90,000,000	90,000,000
Common stock, shares issued (in shares)	46,563,000	46,016,000
Common stock, shares outstanding (in shares)	46,563,000	46,016,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 330,379	$ 274,329	$ 206,531
Cost of revenue	84,439	68,469	57,222
Gross profit	245,940	205,860	149,309
Operating expenses (benefit):
Research and development expenses	57,337	48,506	43,070
Selling, general and administrative expenses	231,272	204,649	150,829
Change in fair value of contingent consideration (Note 2)	0	(184,800)	(357)
Intangible asset impairment (Note 4)	0	82,300	0
Total operating expenses	288,609	150,655	193,542
(Loss) income from operations	(42,669)	55,205	(44,233)
Other income (expense):
Interest expense	(4,986)	(4,918)	(4,885)
Interest income	1,994	466	1,101
Other	(537)	(366)	(24)
(Loss) income before income tax expense	(46,198)	50,387	(48,041)
Income tax expense	268	188	114
Net (loss) income	$ (46,466)	$ 50,199	$ (48,155)
Basic net (loss) income per share (in usd per share)	$ (1.02)	$ 1.11	$ (1.14)
Diluted net (loss) income per share (in usd per share)	$ (1.02)	$ 1.09	$ (1.14)
Weighted average shares outstanding, basic (in shares)	45,740	45,066	42,125
Weighted average shares outstanding, diluted (in shares)	45,740	46,039	42,125
Comprehensive (loss) income:
Unrealized loss on investments	$ (2,811)	$ (941)	$ (46)
Foreign currency translation adjustment	(337)	(319)	516
Other comprehensive (loss) income	(3,148)	(1,260)	470
Net (loss) income	(46,466)	50,199	(48,155)
Comprehensive (loss) income, net of tax	$ (49,614)	$ 48,939	$ (47,685)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income
Beginning balance, shares at Dec. 31, 2019		39,655
Beginning balance at Dec. 31, 2019	$ 247,343	$ 40	$ 529,658	$ (282,197)	$ (158)
Issuance of common stock through public offering (in shares)		4,574
Issuance of common stock through public offering	188,958	$ 5	188,953
Issuance of common stock under equity incentive plans (in shares)		1,013
Issuance of common stock under equity incentive plans	(2,194)		(2,194)
Issuance of common stock under employee stock purchase plan (in shares)		104
Issuance of common stock under employee stock purchase plan	3,330		3,330
Share-based employee compensation expense	22,642		22,642
Other comprehensive income (loss)	470				470
Net (loss) income	(48,155)			(48,155)
Ending balance, shares at Dec. 31, 2020		45,346
Ending balance at Dec. 31, 2020	412,394	$ 45	742,389	(330,352)	312
Issuance of common stock under equity incentive plans (in shares)		589
Issuance of common stock under equity incentive plans	(9,836)	$ 1	(9,837)
Issuance of common stock under employee stock purchase plan (in shares)		81
Issuance of common stock under employee stock purchase plan	4,181		4,181
Share-based employee compensation expense	28,078		28,078
Other comprehensive income (loss)	(1,260)				(1,260)
Net (loss) income	50,199			50,199
Ending balance, shares at Dec. 31, 2021		46,016
Ending balance at Dec. 31, 2021	483,756	$ 46	764,811	(280,153)	(948)
Issuance of common stock under equity incentive plans (in shares)		426
Issuance of common stock under equity incentive plans	(10,384)	$ 1	(10,385)
Issuance of common stock under employee stock purchase plan (in shares)		121
Issuance of common stock under employee stock purchase plan	4,225		4,225
Share-based employee compensation expense	28,771		28,771
Other comprehensive income (loss)	(3,148)				(3,148)
Net (loss) income	(46,466)			(46,466)
Ending balance, shares at Dec. 31, 2022		46,563
Ending balance at Dec. 31, 2022	$ 456,754	$ 47	$ 787,422	$ (326,619)	$ (4,096)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net (loss) income	$ (46,466)	$ 50,199	$ (48,155)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Share-based compensation expense	28,771	28,078	22,642
Depreciation	8,057	7,534	7,866
Amortization of intangible assets	3,653	2,907	1,682
Amortization of deferred financing costs	507	759	509
Amortization of investments	1,478	2,482	1,236
Change in fair value of contingent consideration	0	(184,800)	(357)
Intangible asset impairment	0	82,300	0
Other non-cash adjustments	739	1,607	1,347
Changes in operating assets and liabilities:
Accounts receivable	(8,989)	(10,087)	5,087
Inventories	(7,305)	(4,274)	(5,265)
Other current assets	(515)	(700)	(477)
Accounts payable	2,677	4,710	(1,560)
Accrued liabilities	(2,966)	8,271	(4,908)
Other noncurrent assets and liabilities	(1,782)	(2,766)	484
Net cash used in operating activities	(22,141)	(13,780)	(19,869)
Cash flows from investing activities:
Purchases of available-for-sale securities	(24,637)	(173,105)	(227,045)
Sales and maturities of available-for-sale securities	85,524	206,362	75,306
Purchases of property and equipment	(16,881)	(9,753)	(5,259)
Proceeds from capital grant	0	0	800
Net cash provided by (used in) investing activities	44,006	23,504	(156,198)
Cash flows from financing activities:
Proceeds from sale of stock, net of offering costs of $218	0	0	188,958
Proceeds from debt borrowings	0	5,000	0
Payments on debt and finance leases	(899)	(5,816)	(667)
Payment of debt fees	0	(1,171)	(35)
Proceeds from stock option exercises	1,816	8,175	10,835
Shares repurchased for payment of taxes on stock awards	(12,201)	(18,011)	(13,029)
Proceeds from issuance of common stock under employee stock purchase plan	4,225	4,181	3,330
Net cash (used in) provided by financing activities	(7,059)	(7,642)	189,392
Effect of exchange rate changes on cash and cash equivalents	(361)	(372)	136
Net increase in cash and cash equivalents	14,445	1,710	13,461
Cash and cash equivalents—beginning of period	43,654	41,944	28,483
Cash and cash equivalents—end of period	58,099	43,654	41,944
Supplemental cash flow information:
Cash paid for interest	4,270	4,223	4,366
Cash paid for income taxes, net of refunds	192	190	217
Non-cash investing and financing activities:
Accrued purchases of property and equipment	272	1,552	298
Assets obtained in exchange for finance lease obligations	$ 0	$ 0	$ 22

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Statement of Cash Flows [Abstract]
Offering cost for sale of stock	$ 218

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of the Business —The “Company” or “AtriCure” consists of AtriCure, Inc. and its wholly-owned subsidiaries. The Company is a leading innovator in surgical treatments and therapies for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management, and sells its products to medical centers globally through its direct sales force and distributors. Principles of Consolidation— The Consolidated Financial Statements include the accounts of AtriCure, Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Cash and Cash Equivalents— The Company considers highly liquid investments with maturities of three months or less at the date of purchase as cash equivalents. Cash equivalents include demand deposits, money market funds and repurchase agreements on deposit with financial institutions. Investments— The Company invests primarily in government and agency obligations, corporate bonds, commercial paper and asset-backed securities and classifies all investments as available-for-sale. Investments maturing in less than one year are classified as short-term investments. Investments are recorded at fair value, with unrealized gains and losses recorded as accumulated other comprehensive income (loss). Gains and losses are recognized using the specific identification method when securities are sold and are included in interest income. Revenue Recognition — Revenue is generated primarily from the sale of medical devices. Sales of devices are categorized based on the type of product as follows: open ablation, minimally invasive ablation, pain management and appendage management. The Company recognizes revenue when control of promised devices is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those devices. Revenue is recognized at a point in time upon shipment or delivery of products. Shipping and handling activities performed after control transfers to customers are considered activities to fulfill the promise to transfer the products. Revenue includes shipping and handling revenue of $1,496, $1,354 and $1,192 in the years ended December 31, 2022, 2021 and 2020. Products are sold primarily through a direct sales force and through distributors in certain international markets. Terms of sale are generally consistent for both end-users and distributors, except that payment terms are generally net 30 days for end-users and net 60 days for distributors, with some exceptions. The Company does not maintain any post-shipping obligations to customers; no installation, calibration or testing of products is performed subsequent to shipment in order to render products operational. The Company expects to be entitled to the total consideration for the products ordered as product pricing is fixed and payment terms fall within one year to forgo adjustment for the effects of a significant financing component. The Company excludes taxes assessed by governmental authorities on revenue-producing transactions from the measurement of the transaction price. Costs associated with product sales include commission expense for product sales and royalties paid for sales of certain products. As revenue from product sales are satisfied at a point in time, commission expense and royalties are incurred at that point in time rather than over time. Commissions are included in selling, general and administrative expenses, while royalties are included in cost of revenue. Significant judgments and estimates involved in the Company’s recognition of revenue include the estimation of a provision for returns. In the normal course of business, the Company generally does not accept product returns unless a product is defective as manufactured. The Company does not provide customers with the right to a refund. Sales Returns and Allowances — The Company maintains a provision for potential returns of defective or damaged products, and invoice adjustments. The Company adjusts the provision using the expected value method based on historical experience. Increases to the provision reduce revenue, and the provision is included in accrued liabilities. Allowance for Credit Losses on Accounts Receivable —The Company evaluates expected credit losses on accounts receivable, considering historical credit losses, current customer-specific information and other relevant factors when determining the allowance. An increase to the allowance for credit losses results in a corresponding increase in selling, general and administrative expenses. The Company charges off uncollectible receivables against the allowance when all attempts to collect the receivable have failed. The Company’s history of write-offs has not been significant. Recoveries are recognized when received as a reduction to the allowance for credit losses by decreasing bad debt expense. The following table provides a reconciliation of the changes in the allowance for estimated accounts receivable credit losses for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 2021 2020 Beginning balance - January 1 $ 1,096 $ 1,096 $ 1,124 Adoption of ASU 2016-13 — — (28) Provision for expected credit losses 190 65 — Recovery (1,056) (65) — Ending balance - December 31 $ 230 $ 1,096 $ 1,096 Inventories— Inventories are stated at the lower of cost or net realizable value based on the first-in, first-out cost method (FIFO) and consist of raw materials, work in process and finished goods. The Company’s industry is characterized by rapid product development and frequent new product introductions. Uncertain timing of regulatory approvals, variability in product launch strategies and variation in product use all impact inventory reserves for excess, obsolete and expired products. An increase to inventory reserves results in a corresponding increase in cost of revenue. Inventories are written off against the reserve when they are physically disposed. Property and Equipment— Property and equipment is stated at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful life. The estimated useful life of leasehold improvements is the shorter of the estimated life or the lease term. The estimated useful lives of buildings is 15 to 20 years, while furniture, fixtures, computers and office equipment are depreciated from three Intangible Assets— Intangible assets with determinable useful lives are amortized on a straight-line basis over the estimated fifteen year period benefited. The Company reviews intangible assets at least annually for impairment using its best estimates based on reasonable and supportable assumptions and projections. Goodwill— Goodwill represents the excess of purchase price over the fair value of the net assets acquired in business combinations. The Company’s goodwill is accounted for in a single reporting unit representing the Company as a whole. The Company performs impairment testing annually on October 1 or more often if impairment indicators are present. Long-lived Assets— The Company reviews property and equipment and intangible assets, excluding goodwill, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. When such an event occurs, management determines whether there has been impairment by comparing the anticipated undiscounted future net cash flows to the related asset's carrying value. Leases —The Company leases office, manufacturing and warehouse facilities and computer equipment under leases that qualify as either financing or operating leases, as determined at the inception of the lease arrangement. Lease assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make payments under the lease. Lease assets and liabilities are measured and recorded at the commencement date based on the present value of payments over the lease term. Lease assets and liabilities include lease incentives and options to extend or terminate when it is reasonably certain the Company will exercise that option. The Company uses the implicit rate when readily determinable; however, as most leases do not provide an implicit rate, the Company generally uses its incremental borrowing rate. The Company also applies the short-term lease recognition exemption, recognizing lease payments in profit or loss, for lease terms of 12 months or less at commencement and with no option to extend the lease whose exercise is reasonably certain. The Company accounts for the lease and non-lease components as a single lease component. Additionally, the portfolio approach is applied for operating leases based on the terms of the underlying leases. Operating leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities, while finance leases are included in property and equipment and finance lease liabilities. The short-term portions of both lease liabilities are included in other current liabilities and current maturities of debt and leases. Operating lease expense is recognized on a straight-line basis over the lease term. See Note 9 for further discussion. Other Noncurrent Liabilities— This balance consists of contractual obligations, including asset retirement obligations. Other Income (Expense)— Other income (expense) consists primarily of foreign currency transaction gains and losses generated by settlements of intercompany balances denominated in Euros and customer invoices transacted in British Pounds and Australian Dollars. Income Taxes —Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities from a change in tax rates is recognized in the period that includes the enactment date. The Company’s estimate of the valuation allowance for deferred income tax assets requires significant estimates and judgments about future operating results. Deferred income tax assets are reduced by valuation allowances if, based on the consideration of all available evidence, it is more-likely-than-not that a deferred income tax asset will not be realized. Significant weight is given to evidence that can be objectively verified. The Company evaluates deferred income tax assets on an annual basis to determine if valuation allowances are required by considering all available evidence. Deferred income tax assets are realized by having sufficient future taxable income to allow the related tax benefits to reduce taxes otherwise payable. The sources of taxable income that may be available to realize the benefit of deferred income tax assets are future taxable income, future reversals of existing taxable temporary differences, taxable income in prior carryforward years and tax planning strategies that are both prudent and feasible. In evaluating the need for a valuation allowance, the existence of cumulative losses in recent years is significant objectively-verifiable negative evidence that must be overcome by objectively-verifiable positive evidence to avoid the need for a valuation allowance. The Company's valuation allowance offsets substantially all net deferred income tax assets as it is more-likely-than-not that the benefit of the deferred income tax assets will not be recognized in future periods. The Company has not reclassified income tax effects of the Tax Cuts and Jobs Act within accumulated other comprehensive (loss) income to retained earnings due to its full valuation allowance. Earnings Per Share— Basic earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflects net income available to common stockholders divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including shares issuable upon the vesting of restricted stock awards and restricted stock units, exercise of stock options as well as shares issuable under the Company's employee stock purchase plan (ESPP). Year Ended December 31, 2022 2021 2020 Net (loss) income available to common stockholders $ (46,466) $ 50,199 $ (48,155) Basic weighted average common shares outstanding 45,740 45,066 42,125 Effect of dilutive securities — 973 — Diluted weighted average common shares outstanding 45,740 46,039 42,125 Basic net (loss) income per common share $ (1.02) $ 1.11 $ (1.14) Diluted net (loss) income per common share $ (1.02) $ 1.09 $ (1.14) For the years ended December 31, 2022 and 2020, the number of shares calculated for basic net loss per share is also used for the diluted net loss per share calculation, and net loss per share excludes the effect of 1,292 and 2,301 shares because the effect would be anti-dilutive. The computation of diluted earnings per share in the year ended December 31, 2021 excludes 404 shares because the effect would be anti-dilutive. Research and Development Costs — Research and development costs include compensation and other internal and external costs associated with the development and research of new and existing products or concepts, preclinical studies, clinical trials and related regulatory activities, as well as amortization of technology assets. Research and development costs are expensed as incurred. Clinical trial costs and other development costs incurred by third parties are expensed as contracted work is performed. Advertising Costs — The Company expenses advertising costs as incurred. Advertising expense was $1,233, $907 and $655 during the years ended December 31, 2022, 2021 and 2020. Share-Based Compensation— The Company recognizes share-based compensation expense for all share-based payment awards, including stock options, restricted stock awards, restricted stock units, performance share awards (PSAs) and stock purchases related to an employee stock purchase plan, based on estimated fair values. The value of the portion of an award that is ultimately expected to vest is recognized as expense over the service period. The Company estimates forfeitures at the time of grant and revises them, as necessary, in subsequent periods as actual forfeitures differ from those estimates. The Company estimates the fair value of time-based options on the date of grant using the Black-Scholes option-pricing model (Black-Scholes model). The Company’s determination of the fair value is affected by the Company’s stock price as well as several subjective assumptions, such as the Company’s expected stock price volatility over the term of the awards and actual and projected employee stock option exercise behaviors. The Company estimates the fair value of restricted stock awards and restricted stock units based upon the grant date closing market price of the Company’s common stock. The Company estimates the fair value of PSAs with a performance condition based on the closing stock price on the date of grant assuming the performance target will be achieved and may adjust expense over the performance period based on changes to estimates of performance target achievement. If such targets are not met or service is not rendered for the requisite service period, no compensation cost is recognized, and any recognized compensation cost in prior periods will be reversed. For PSAs with a market condition, a Monte Carlo simulation is performed to estimate the fair value on the date of grant, and compensation cost is recognized over the requisite service period as the employee renders service, even if the market condition is not satisfied. The Company’s determination of the fair value is affected by the Company and market index stock performance, as defined by the award agreement, at the beginning of the service period and grant date; the expected volatility of the Company and market index stock performance over the performance period and the correlation coefficient of the daily returns for the Company and market index over the performance period. The Company also has an employee stock purchase plan (ESPP) which is available to all eligible employees as defined by the plan document. Under the ESPP, shares of the Company’s common stock may be purchased at a discount. The Company estimates the number of shares to be purchased under the ESPP at the beginning of each purchase period based upon the fair value of the stock at the beginning of the purchase period using the Black-Scholes model and records estimated compensation expense during the purchase period. Expense is adjusted at the time of stock purchase. Use of Estimates— The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires estimates and assumptions that affect the reported amounts of assets and liabilities, including intangible assets, contingent assets and liabilities and the reported amounts of revenue and expense during the reporting period. Estimates are based on historical experience, where applicable, and other assumptions believed to be reasonable by management. Actual results could differ from those estimates. Segments— The Company evaluates reporting segments in accordance with FASB ASC 280, “Segment Reporting”. The Company develops, manufactures and sells devices designed primarily for the surgical ablation of cardiac tissue, systems designed for the exclusion of the left atrial appendage and devices designed to block pain by temporarily ablating peripheral nerves. These devices are developed and marketed to a broad base of medical centers globally. Management considers all such sales to be part of a single operating segment. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis, accompanied only by information about revenue by product type and geographic area, for purposes of allocating resources and evaluating financial performance. Accordingly, the Company has determined that it has a single operating segment. The Company’s long-lived assets are located in the United States, except for $1,616 as of December 31, 2022 and $1,399 as of December 31, 2021 located primarily in Europe. Fair Value Disclosures —The Company classifies cash investments in U.S. government and agency obligations, accounts receivable, other current assets, and accounts payable as Level 1. The carrying amounts of these assets and liabilities approximate their fair value due to their relatively short-term nature. Cash equivalents and investments in corporate bonds, repurchase agreements, commercial paper and asset-backed securities are classified as Level 2 within the fair value hierarchy. The fair value of fixed term debt is estimated by calculating the net present value of future debt payments at current market interest rates and is classified as Level 2. The book value of the Company’s fixed term debt approximates its fair value because the interest rate varies with market rates. Significant unobservable inputs with respect to the fair value measurements of the Level 3 contingent consideration liabilities are developed using Company data. See Note 2 – Fair Value for further information on fair value measurements.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE FASB ASC 820, “Fair Value Measurements and Disclosures”, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1—Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. The valuation under this approach does not entail a significant degree of judgment. • Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. The valuation technique for the Company’s Level 2 assets is based on quoted market prices for similar assets from observable pricing sources at the reporting date. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022: Quoted Prices Significant Significant Total Assets: Money market funds $ — $ 54,414 $ — $ 54,414 Commercial paper — 11,935 — 11,935 Government and agency obligations 32,637 — — 32,637 Corporate bonds — 67,598 — 67,598 Asset-backed securities — 2,353 — 2,353 Total assets $ 32,637 $ 136,300 $ — $ 168,937 There were no changes in the levels or methodology of measurement of financial assets and liabilities during the years ended December 31, 2022 and 2021. The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021: Quoted Prices Significant Significant Total Assets: Money market funds $ — $ 38,360 $ — $ 38,360 Commercial paper — 22,978 — 22,978 Government and agency obligations 32,690 — — 32,690 Corporate bonds — 95,845 — 95,845 Asset-backed securities — 28,261 — 28,261 Total assets $ 32,690 $ 185,444 $ — $ 218,134 Contingent Consideration. The Company's contingent consideration arrangements arising from the SentreHEART acquisition obligate the Company to pay certain defined amounts to former shareholders of SentreHEART if specified milestones are met related to the aMAZE IDE clinical trial, including PMA approval and reimbursement for the therapy involving SentreHEART's devices. The achievement periods for the PMA approval and reimbursement milestones expire on December 31, 2023 and December 31, 2026, respectively. The contingent consideration liabilities are measured by applying the probability weighted scenario method using unobservable inputs, thus representing a Level 3 measurement within the fair value hierarchy. During 2021, the Company was informed that data from the aMAZE clinical trial did not achieve statistical superiority, and the Company assessed the projected probability of payment to be remote. The Company recorded a credit to operating expenses of $184,800 reflecting the change in fair value of the contingent consideration. The Company has assessed the projected probability of payment during the contractual achievement periods to be remote, resulting in no fair value as of December 31, 2022 and 2021. The following table represents the Company’s Level 3 fair value measurements using significant other unobservable inputs for acquisition-related contingent consideration for each of the years ended December 31: 2022 2021 2020 Beginning Balance – January 1 $ — $ 184,800 $ 185,157 Amounts acquired — — — Changes in fair value of contingent consideration — (184,800) (357) Ending Balance – December 31 $ — $ — $ 184,800

Investments

Investments	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS Investments as of December 31, 2022 consisted of the following: Cost Basis Unrealized Fair Value Corporate bonds $ 69,832 $ (2,234) $ 67,598 Government and agency obligations 33,971 (1,334) 32,637 Commercial paper 11,935 — 11,935 Asset-backed securities 2,483 (130) 2,353 Total $ 118,221 $ (3,698) $ 114,523 Investments as of December 31, 2021 consisted of the following: Cost Basis Unrealized Fair Value Corporate bonds $ 96,408 $ (563) $ 95,845 Government and agency obligations 32,953 (263) 32,690 Commercial paper 22,978 — 22,978 Asset-backed securities 28,322 (61) 28,261 Total $ 180,661 $ (887) $ 179,774 The gross realized gains or losses from sales of available-for-sale investments were not material in the years ended December 31, 2022, 2021 and 2020. The cost and fair value of investments in debt securities, by contractual maturity, as of December 31, 2022 were as follows: Available-for-sale Amortized Cost Fair Value Due in 1 year or less $ 63,596 $ 62,840 Due after 1 year through 5 years 52,142 49,330 Due after 5 years through 10 years — — Instruments not due at a single maturity date 2,483 2,353 Total $ 118,221 $ 114,523

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	INTANGIBLE ASSETS AND GOODWILL The following table provides a summary of the Company’s intangible assets at December 31: 2022 2021 Cost Accumulated Amortization Cost Accumulated Amortization Technology $ 46,470 $ 7,131 $ 55,712 $ 12,720 During 2021, the Company recorded an impairment charge of $82,300 to reduce the carrying value of the aMAZE IPR&D asset to $0 as of December 31, 2022 as a result of data from the aMAZE clinical trial not achieving statistical superiority. This impairment charge was reflected as a component of operating expenses. The $9,242 reduction in technology cost and accumulated amortization during 2022 is a result of a write-off fully-amortized asset no longer in use. Amortization expense of intangible assets was $3,653, $2,907 and $1,682 for the years ended December 31, 2022, 2021 and 2020. Future amortization expense is projected as follows: 2023 $ 2,953 2024 2,953 2025 2,953 2026 2,953 2027 2,953 2028 and thereafter 24,574 Total $ 39,339 The following table provides a summary of the Company’s goodwill, which is not amortized, but rather tested annually for impairment: Net carrying amount as of December 31, 2020 $ 234,781 Additions — Net carrying amount as of December 31, 2021 234,781 Additions — Net carrying amount as of December 31, 2022 $ 234,781

Inventories

Inventories	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consisted of the following at December 31: 2022 2021 Raw materials $ 19,880 $ 12,653 Work in process 2,959 2,064 Finished goods 23,092 24,247 Inventories $ 45,931 $ 38,964

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT Property and equipment consisted of the following at December 31: 2022 2021 Buildings and improvements $ 28,947 $ 22,977 Generators 21,354 20,175 Machinery and office equipment 20,184 14,758 Computer equipment and software 10,251 7,762 Construction in progress 3,909 5,999 Land 1,006 1,006 Total 85,651 72,677 Less accumulated depreciation (46,818) (41,268) Property and equipment, net $ 38,833 $ 31,409 Property and equipment depreciation expense was $8,057, $7,534 and $7,866 for the years ended December 31, 2022, 2021 and 2020. As of December 31, 2022 and 2021, the net carrying value of generators and other capital equipment was $4,447 and $3,637.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES Accrued liabilities consisted of the following at December 31: 2022 2021 Accrued compensation and employee-related expenses $ 26,924 $ 30,990 Other accrued liabilities 3,301 2,686 Sales returns and allowances 2,797 2,416 Total $ 33,022 $ 36,092

Indebtedness

Indebtedness	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Indebtedness	INDEBTEDNESS Credit Facility. The Company has a Loan and Security Agreement, as amended and modified effective February 8, 2021 and as further amended November 1, 2021 (Loan Agreement) with Silicon Valley Bank (SVB). The Loan Agreement includes a $60,000 term loan, with an option to make available an additional $30,000 in term loan borrowings, and a $30,000 revolving line of credit. The Loan Agreement has a five year term, expiring November 2026. Principal payments under the Loan Agreement are to be made ratably commencing 24 months after inception through the loan's maturity date. At the option of the Company, the commencement of term loan principal payments may be extended an additional twelve months. The term loan accrues interest at the Prime Rate plus 1.25% and is subject to an additional 3.00% fee on the term loan principal amount at maturity. The Company is accruing the 3.00% fee over the term of the Loan Agreement, with $420 included in the outstanding loan balance as of December 31, 2022. Additionally, the unamortized financing costs related to the term loan of $253 are netted against the outstanding loan balance in the Consolidated Balance Sheets and are amortized ratably over the term of the Loan Agreement. The revolving line of credit is subject to an annual facility fee of 0.20% of the revolving line of credit, and any borrowings thereunder bear interest at the Prime Rate. Borrowing availability under the revolving credit facility is based on the lesser of $30,000 or a borrowing base calculation as defined by the Loan Agreement. As of December 31, 2022, the Company had no borrowings under the revolving credit facility and had borrowing availability of approximately $28,750. Financing costs related to the revolving line of credit are included in other assets in the Consolidated Balance Sheets and amortized ratably over the twelve-month period of the annual fee. The Loan Agreement also provides for certain prepayment and early termination fees, as well as establishes a minimum liquidity covenant and dividend restrictions, along with other customary terms and conditions. Specified assets have been pledged as collateral. Future maturities of long-term debt, excluding the term loan final fee, are projected as follows: 2023 $ 3,333 2024 20,000 2025 20,000 2026 16,667 Total long-term debt, of which $3,333 is current and $56,667 is noncurrent $ 60,000

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lessee, Operating Leases	LEASES The Company has operating and finance leases for offices, manufacturing and warehouse facilities and computer equipment. The Company’s leases have remaining lease terms of one The weighted average remaining lease term and the discount rate for the reporting periods are as follows: As of As of As of December 31, 2022 December 31, 2021 December 31, 2020 Operating Leases Weighted average remaining lease term (years) 4.4 3.6 3.2 Weighted average discount rate 4.60 % 4.69 % 5.68 % Finance Leases Weighted average remaining lease term (years) 7.6 8.6 9.7 Weighted average discount rate 6.92 % 6.91 % 6.91 % A letter of credit for $1,250 was issued to the lessor of the Company's corporate headquarters building in October 2015, and is renewed annually and remains outstanding as of December 31, 2022. The components of lease expense are as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Operating lease cost $ 1,133 $ 1,052 $ 1,237 Finance lease cost: Amortization of right-of-use assets 1,016 1,019 1,050 Interest on lease liabilities 735 792 844 Total finance lease cost $ 1,751 $ 1,811 $ 1,894 Short term lease expense was not significant for the twelve months ended December 31, 2022, 2021 and 2020. Supplemental cash flow information related to leases was as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 845 $ 998 $ 1,236 Operating cash flows for finance leases 735 620 844 Financing cash flows for finance leases 899 792 664 Right-of-use assets obtained in exchange for lease obligations: Operating Leases — 3,752 1,421 Finance Leases 62 — 22 Early termination of operating lease — — 2,743 Supplemental balance sheet information related to leases was as follows: As of December 31, 2022 As of December 31, 2021 Operating Leases Operating lease right-of-use assets $ 3,787 $ 4,761 Other current liabilities and current maturities of debt and leases 1,147 861 Operating lease liabilities 3,095 4,068 Total operating lease liabilities $ 4,242 $ 4,929 Finance Leases Property and equipment, at cost $ 14,645 $ 14,607 Accumulated depreciation (7,109) (6,116) Property and equipment, net $ 7,536 $ 8,491 Other current liabilities and current maturities of debt and leases $ 992 $ 895 Finance lease liabilities 9,147 10,082 Total finance lease liabilities $ 10,139 $ 10,977 Maturities of lease liabilities as of December 31, 2022 were as follows: Operating Leases Finance Leases 2023 $ 1,160 $ 1,665 2024 1,164 1,689 2025 920 1,638 2026 592 1,671 2027 609 1,703 2028 and thereafter 259 4,824 Total payments $ 4,704 $ 13,190 Less imputed interest (462) (3,051) Total lease liabilities $ 4,242 $ 10,139
Lessee, Finance Leases	LEASES The Company has operating and finance leases for offices, manufacturing and warehouse facilities and computer equipment. The Company’s leases have remaining lease terms of one The weighted average remaining lease term and the discount rate for the reporting periods are as follows: As of As of As of December 31, 2022 December 31, 2021 December 31, 2020 Operating Leases Weighted average remaining lease term (years) 4.4 3.6 3.2 Weighted average discount rate 4.60 % 4.69 % 5.68 % Finance Leases Weighted average remaining lease term (years) 7.6 8.6 9.7 Weighted average discount rate 6.92 % 6.91 % 6.91 % A letter of credit for $1,250 was issued to the lessor of the Company's corporate headquarters building in October 2015, and is renewed annually and remains outstanding as of December 31, 2022. The components of lease expense are as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Operating lease cost $ 1,133 $ 1,052 $ 1,237 Finance lease cost: Amortization of right-of-use assets 1,016 1,019 1,050 Interest on lease liabilities 735 792 844 Total finance lease cost $ 1,751 $ 1,811 $ 1,894 Short term lease expense was not significant for the twelve months ended December 31, 2022, 2021 and 2020. Supplemental cash flow information related to leases was as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 845 $ 998 $ 1,236 Operating cash flows for finance leases 735 620 844 Financing cash flows for finance leases 899 792 664 Right-of-use assets obtained in exchange for lease obligations: Operating Leases — 3,752 1,421 Finance Leases 62 — 22 Early termination of operating lease — — 2,743 Supplemental balance sheet information related to leases was as follows: As of December 31, 2022 As of December 31, 2021 Operating Leases Operating lease right-of-use assets $ 3,787 $ 4,761 Other current liabilities and current maturities of debt and leases 1,147 861 Operating lease liabilities 3,095 4,068 Total operating lease liabilities $ 4,242 $ 4,929 Finance Leases Property and equipment, at cost $ 14,645 $ 14,607 Accumulated depreciation (7,109) (6,116) Property and equipment, net $ 7,536 $ 8,491 Other current liabilities and current maturities of debt and leases $ 992 $ 895 Finance lease liabilities 9,147 10,082 Total finance lease liabilities $ 10,139 $ 10,977 Maturities of lease liabilities as of December 31, 2022 were as follows: Operating Leases Finance Leases 2023 $ 1,160 $ 1,665 2024 1,164 1,689 2025 920 1,638 2026 592 1,671 2027 609 1,703 2028 and thereafter 259 4,824 Total payments $ 4,704 $ 13,190 Less imputed interest (462) (3,051) Total lease liabilities $ 4,242 $ 10,139

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES License Agreements. The Company has a license agreement that requires payments of 5% of specified product sales. The agreement terminates the later of 2023 or expiration of the underlying patents or patent applications, which is expected to occur after 2023. Parties to the license agreement have the right at any time to terminate the agreement immediately for cause. Royalty expense was $3,264, $3,124 and $2,596 for the years ended December 31, 2022, 2021 and 2020. Purchase Agreements. The Company enters into standard purchase agreements with suppliers in the ordinary course of business, generally with terms that allow cancellation. Legal. The Company may, from time to time, become a party to legal proceedings. Such matters are subject to many uncertainties and to outcomes of which the financial impacts are not predictable with assurance and that may not be known for extended periods of time. A liability is established once management determines a loss is probable and an amount can be reasonably estimated. The Company received a Civil Investigative Demand (CID) from the U.S. Department of Justice (USDOJ) in December 2017 stating that it is investigating the Company to determine whether the Company has violated the False Claims Act, relating to the promotion of certain medical devices related to the treatment of atrial fibrillation for off-label use and submitted or caused to be submitted false claims to certain federal and state health care programs for medically unnecessary healthcare services related to the treatment of atrial fibrillation. The CID covers the period from January 2010 to December 2017 and required the production of documents and answers to written interrogatories. The Company had no knowledge of the investigation prior to receipt of the CID. The Company maintains rigorous policies and procedures to promote compliance with the False Claims Act and other applicable regulatory requirements. The Company provided the USDOJ with documents and answers to the written interrogatories. In March 2021, USDOJ informed the Company that its investigation was based on a lawsuit brought on behalf of the United States and various state and local governments under the qui tam provisions of federal and certain state and local False Claims Acts. Although the USDOJ and all of the state and local governments declined to intervene, the relator continues to pursue the case. During the third quarter of 2022, the relator filed a Fourth Amended Complaint, which dropped allegations of off-label promotion and now alleges that the Company paid illegal kickbacks to healthcare providers in exchange for using or referring the Company’s products, in violation of the federal Anti-Kickback Statute and various comparable state and local laws. While the Company is contesting the case, it is not possible to predict when this matter may be resolved or what impact, if any, the outcome of this matter might have on our consolidated financial position, results of operations or cash flows. On August 23, 2022, the Cleveland Clinic Foundation (“Clinic”) and IDx Medical, Ltd. (“IDX”) filed a Demand for Arbitration against the Company with the American Arbitration Association (“AAA”), alleging that the Company breached certain provisions of the License Agreement dated December 9, 2003 among the Company, Clinic and IDX (“License Agreement”). Clinic and IDX allege the Company did not include the revenues from sales of certain products in its calculation of royalty payments due under the License Agreement. Clinic and IDX also allege that the Company did not provide related notices required under the License Agreement. The Demand for Arbitration requests a declaration that the termination of the License Agreement shall not occur until the expiration of certain patents and that the Company violated the License Agreement’s non-competition provisions. Clinic and IDX claim they are entitled to no less than $6 million plus interest and costs, fees and expenses associated with their claims and future royalties.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The Company develops, manufactures and sells devices designed primarily for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and blocking pain by temporarily ablating peripheral nerves. These devices are marketed to a broad base of medical centers globally. In 2022, the Company changed the presentation of its disaggregated revenue within the notes to the Consolidated Financial Statements to align with current product line offerings. Specifically, pain management revenue, representing sales of the cryoSPHERE ® product, was historically presented within open ablation revenue and is now a separately stated revenue product type. Valve revenue, historically presented as a separate product type revenue, is now included in open ablation revenue. Revenue amounts for comparative prior fiscal periods have been reclassified to conform to the current period presentation. United States revenue by product type is as follows: 2022 2021 2020 Open ablation $ 86,119 $ 72,396 $ 65,301 Minimally invasive ablation 38,553 39,380 25,647 Pain management 39,974 22,787 11,315 Total ablation $ 164,646 $ 134,563 $ 102,263 Appendage management 112,555 94,568 66,981 Total United States $ 277,201 $ 229,131 $ 169,244 International revenue by product type is as follows: 2022 2021 2020 Open ablation $ 26,809 $ 23,194 $ 18,760 Minimally invasive ablation 5,986 6,409 6,171 Pain management 558 61 3 Total ablation $ 33,353 $ 29,664 $ 24,934 Appendage management 19,825 15,534 12,353 Total International $ 53,178 $ 45,198 $ 37,287 Revenue attributed to customer geographic locations is as follows: 2022 2021 2020 United States $ 277,201 $ 229,131 $ 169,244 Europe 30,428 27,931 23,217 Asia 20,734 16,077 13,118 Other International 2,016 1,190 952 Total International 53,178 45,198 37,287 Total Revenue $ 330,379 $ 274,329 $ 206,531

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company files federal, state and foreign income tax returns in jurisdictions with varying statutes of limitations. The Company uses the asset and liability method in accordance with FASB ASC 740, “Income Taxes”, under which deferred income taxes are provided for the temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities. Deferred taxes are measured using provisions of currently enacted tax laws. A valuation allowance against deferred tax assets is recorded when it is more likely than not that such assets will not be fully realized. The Company's valuation allowance offsets substantially all its net deferred tax assets as it is more likely than not that the benefit of the deferred tax assets will not be recognized in future periods. The Company’s provision for income taxes for each of the years ended December 31 is as follows: 2022 2021 2020 Current tax expense Federal $ — $ — $ (26) State 142 42 78 Foreign 118 125 74 Total current tax expense 260 167 126 Deferred tax expense Federal $ (8,351) $ (30,925) $ (10,304) State (459) (4,803) (1,686) Foreign (1,636) (826) (3,071) Change in valuation allowance 10,454 36,575 15,049 Total deferred tax expense 8 21 (12) Total tax expense $ 268 $ 188 $ 114 The detail of deferred tax assets and liabilities at December 31 is as follows: 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 138,263 $ 137,920 Research and development credit carryforwards 13,205 11,269 Research and experimental expenditures 10,104 — Equity compensation 8,287 7,974 Finance and operating lease liabilities 3,395 3,700 Deferred interest 2,411 2,469 Inventories 1,896 2,434 Accruals and reserves 1,332 1,755 Other 506 587 Total deferred tax assets 179,399 168,108 Deferred tax liabilities: Intangible assets (9,278) (9,993) Right-of-use assets (2,626) (3,037) Property and equipment (2,568) (1,264) Total deferred tax liabilities (14,472) (14,294) Valuation allowance (164,918) (153,798) Net deferred tax assets $ 9 $ 16 Provisions enacted in the Tax Cut and Jobs Act of 2017 related to the capitalization of research and experimental expenditures for tax purposes became effective on January 1, 2022. These provisions require us to capitalize and amortize research and experimental expenditures for tax purposes over five The Company’s 2022, 2021 and 2020 effective income tax rates differ from the federal statutory rate as follows: 2022 2021 2020 Federal tax at statutory rate 21.0 % $ (9,701) 21.0 % $ 10,580 21.0 % $ (10,088) Permanent differences (1.9) 876 (80.3) (40,439) (2.5) 1,214 Valuation allowance (22.6) 10,454 72.6 36,575 (31.3) 15,048 State income taxes 0.7 (317) (9.4) (4,760) 3.3 (1,607) Federal R&D credit 4.2 (1,936) (3.7) (1,878) 2.0 (985) Foreign income taxes (0.5) 215 0.7 344 4.5 (2,140) Federal deferred adjustments (1.5) 677 (0.5) (234) 2.8 (1,328) Effective tax rate (0.6) % $ 268 0.4 % $ 188 (0.2) % $ 114 The Company’s pre-tax book (loss) income for domestic and international operations was $(38,008) and $(8,190) for 2022, $55,666 and $(5,279) for 2021 and $(43,218) and $(4,823) for 2020. The Company had undistributed earnings of foreign subsidiaries of approximately $379 at December 31, 2022. The Company does not consider these earnings as permanently reinvested and has determined that no current and deferred taxes are required on such amounts. Federal, state and local tax returns of the Company are routinely subject to examination by various taxing authorities. Federal income tax returns for periods beginning in 2019 are open for examination. Generally, state and foreign income tax returns for periods beginning in 2018 are open for examination. However, taxing authorities have the ability to audit net operating loss and tax credit carryforwards from years prior to these periods. The Company has not recognized certain tax benefits because of the uncertainty of realizing the entire value of the tax position taken on income tax returns upon review by the taxing authorities. A reconciliation of the change in federal and state unrecognized tax benefits for 2022, 2021 and 2020 is presented below: 2022 2021 2020 Balance at the beginning of the year $ 1,798 $ 1,798 $ 1,777 Increases (decreases) for prior year tax positions (36) — 21 Increases (decreases) for current year tax positions — — — Increases (decreases) related to settlements — — — Decreases related to statute lapse — — — Balance at the end of the year $ 1,762 $ 1,798 $ 1,798 The balance of unrecognized tax benefits at December 31, 2022, 2021 and 2020 includes $1,762, $1,798 and 1,798 of tax benefits that, if recognized, would result in adjustments to other tax accounts, primarily deferred taxes and valuation allowance. The Company does not expect that its unrecognized tax benefits for research credits will significantly change within twelve months of December 31, 2022.

Concentrations

Concentrations	12 Months Ended
	Dec. 31, 2022
Risks and Uncertainties [Abstract]
Concentrations	CONCENTRATIONS During 2022, 2021 and 2020, approximately 9.7%, 10.5% and 10.8% of the Company’s total net revenue was derived from its top ten customers. During 2022, 2021 and 2020 no individual customer accounted for more than 10% of the Company’s revenue. As of December 31, 2022 and 2021, 11.7% and 16.0% of the Company’s total accounts receivable balance was derived from its top ten customers. No individual customer accounted for more than 10% of the Company’s accounts receivable as of December 31, 2022 and 2021.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2022
Postemployment Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANSThe Company sponsors the AtriCure, Inc. 401(k) Plan (401(k) Plan), a defined contribution plan covering substantially all U.S. employees of the Company. Eligible employees may contribute pre-tax annual compensation up to specified maximums under the Internal Revenue Code. During the year ended December 31, 2022, the Company made matching contributions of 50% on the first 8% of employee contributions to the 401(k) Plan. During the year ended December 31, 2021 and 2020, the Company made matching contributions of 50% on the first 6% of employee contributions to the 401(k) Plan. The Company’s matching contributions in 2022, 2021 and 2020 were $4,447, $2,651 and $2,237. Additional amounts may be contributed to the 401(k) Plan at the discretion of the Company’s Board of Directors, however, no such discretionary contributions were made in 2022, 2021 or 2020. The Company also provides retirement benefits for employees of its foreign subsidiaries. Total contributions to foreign retirement plans were $446, $349 and $244 in 2022, 2021 and 2020.

Equity Compensation Plans

Equity Compensation Plans	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Equity Compensation Plans	EQUITY COMPENSATION PLANS The Company has two share-based incentive plans: the 2014 Stock Incentive Plan (2014 Plan) and the 2018 Employee Stock Purchase Plan (ESPP). Stock Incentive Plan Under the 2014 Plan, the Board of Directors may grant restricted stock awards or restricted stock units (collectively RSAs), nonstatutory stock options, performance share awards (PSAs) or stock appreciation rights to Company employees, directors and consultants, and may grant incentive stock options to Company employees. The Compensation Committee of the Board of Directors, as the administrator of the 2014 Plan, has the authority to determine the terms of any awards, including the number of shares subject to each award, the exercisability of the awards and the form of consideration. As of December 31, 2022, 13,999 shares of common stock had been reserved for issuance under the 2014 Plan and 2,183 shares were available for future grants. Stock options, restricted stock awards and restricted stock units granted generally vest at a rate of 33.3% on the first, second and third anniversaries of the grant date. Stock options generally expire ten years from the date of grant. The award agreements for the PSAs provide that each PSA that vests represents the right to receive one share of the Company’s common stock at the end of the performance period. With respect to the PSAs, the number of shares that vest and are issued to the recipient is based upon the Company’s performance with respect to specified targets at the end of the three year performance period. PSAs granted in 2020 have performance targets based on the Company’s compound annual revenue growth rate (CAGR) over the three year performance period, and payout opportunities range from 0% to 100% of the target amount. PSAs awarded subsequent to 2020 have two weighted performance targets: (i) the Company’s CAGR and (ii) relative total shareholder return (TSR). TSR is measured against the Nasdaq Health Care Index constituents and the 20-trading-day average stock price prior to the start and end of the performance period. PSAs granted in 2021 have payout opportunities ranging from 0% to 200% of the target amount, based on equally weighting of the performance targets. Awards granted in 2022 have payout opportunities ranging from 0% to 300% of the target amount and are weighted 60% on the CAGR performance target and 40% on the TSR performance target. These ranges are used to determine the number of shares that will be issuable when the award vests. The performance and market condition payouts will be determined independently and accumulated to determine the total payout for the three year performance period, subject to the maximum payout defined in the PSA agreements. All or a portion of the PSAs may vest following a change of control or a termination of service by reason of death or disability. Activity under the plans during 2022 was as follows: Weighted Weighted Average Number of Average Remaining Aggregate Shares Exercise Contractual Intrinsic Time-Based Stock Options Outstanding Price Term Value Outstanding at January 1, 2022 653 $ 25.53 Granted — — Exercised (159) 11.45 Forfeited (13) 55.33 Outstanding at December 31, 2022 481 $ 29.34 4.2 $ 9,437 Vested and expected to vest 479 $ 29.17 4.2 $ 9,436 Exercisable at December 31, 2022 411 $ 23.46 3.5 $ 9,352 The total intrinsic value of options exercised during the years ended December 31, 2022, 2021 and 2020 was $5,565, $27,318 and $29,594. As a result of the Company’s full valuation allowance on its net deferred tax assets, no tax benefit was recognized related to the stock option exercises. The exercise price per share of each option is equal to the fair market value of the underlying share on the date of grant. For 2022, 2021 and 2020, $1,816, $8,175 and $10,835 in cash proceeds from the exercise of stock options were included in the Consolidated Statements of Cash Flows. Weighted Weighted RSA Average PSA Average Shares Grant Date Shares Grant Date Restricted Stock Awards and Performance Share Awards Outstanding Fair Value Outstanding Fair Value Outstanding at January 1, 2022 628 $ 50.96 227 $ 64.27 Awarded 356 63.14 117 91.05 Released (362) 47.58 (116) 44.21 Forfeited (24) 57.45 (15) 55.17 Outstanding at December 31, 2022 598 $ 60.00 213 $ 90.70 The total fair value of restricted stock vested during 2022, 2021 and 2020 was $23,242, $40,510 and $34,200. The total fair value of performance share awards vested during 2022, 2021 and 2020 was $5,185, $8,165 and $4,003. The Company issues registered shares of common stock to satisfy stock option exercises and restricted stock and performance award grants. Employee Stock Purchase Plan Under the ESPP, shares of the Company’s common stock may be purchased at a discount (15%) to the lesser of the closing price of the Company’s common stock on the first or last trading day of the offering period. The offering period (currently six months) and the offering price are subject to change. Participants may not purchase a value of more than $25 of the Company’s common stock in a calendar year and may not purchase a value of more than 3 shares during an offering period. As of December 31, 2022, there were 184 shares available for future issuance under the ESPP. Valuation and Expense Information Under FASB ASC 718 The following table summarizes total share-based compensation expense related to employees, directors and consultants for 2022, 2021 and 2020. The expense was allocated as follows: 2022 2021 2020 Cost of revenue $ 1,868 $ 2,243 $ 1,425 Research and development expenses 4,544 4,206 3,530 Selling, general and administrative expenses 22,359 21,629 17,687 Total $ 28,771 $ 28,078 $ 22,642 The expense by award type was allocated as follows: 2022 2021 2020 Restricted Stock Awards & Time-Based Stock Options $ 18,633 $ 18,727 $ 18,612 Performance Share Awards 8,731 8,095 2,921 ESPP 1,407 1,256 1,109 Total $ 28,771 $ 28,078 $ 22,642 In 2020, the Compensation Committee modified the methodology for measuring performance of the 2018, 2019 and 2020 performance awards. The modification to vesting conditions and performance measures resulted in incremental compensation cost of $994, $2,856 and $569 during 2022, 2021 and 2020. As of December 31, 2022 there was $23,252 of unrecognized compensation costs related to non-vested stock options and restricted stock arrangements ($1,160 relating to stock options and $22,092 relating to restricted stock). This cost is expected to be recognized over a weighted-average period of 1.4 years for stock options and 1.8 years for restricted stock. As of December 31, 2022 there was $11,648 of unrecognized compensation costs related to non-vested performance share awards, and this cost is expected to be recognized over a weighted-average period of 1.7 years. In determining compensation expense, the fair value of restricted stock awards, restricted stock units and performance share awards with a performance condition is based on the market value of the Company’s stock on the grant date of the awards or subsequent modification (as applicable). The fair value of options is estimated on the grant date using the Black-Scholes model. No options were granted during 2022. Options granted in prior years included the following assumptions: 2021 2020 Range of risk-free interest rate 0.43-1.22% 0.30 - 1.73% Range of expected life of stock options (years) 5.3 to 5.7 5.2 to 5.7 Range of expected volatility of stock 40.00 - 43.00% 40.00 - 43.00% Weighted-average volatility 41.84% 41.54% Dividend yield 0.00% 0.00% The Company’s estimate of volatility is based solely on the Company’s stock price over the expected option life. The risk-free interest rate assumption is based upon the U.S. treasury yield curve at the time of grant for the expected option life. The Company estimates the expected terms of options using historical employee exercise behavior. The fair value of performance share awards with a market condition is estimated on the grant date using a Monte Carlo simulation and includes the following assumptions: 2022 2021 Stock price $39.94 - $69.59 $ 66.31 Expected term (years) 2.6 to 2.8 2.8 Company volatility 43.50 - 46.90% 42.10% Market index average volatility 90.30 - 92.00% 91.00% Market index average correlation 33.50 - 35.40% 31.50% Risk-free interest rate 1.40 - 2.70% 0.20% Dividend yield 0.00% 0.00% The expected term is estimated as the remaining performance period at the grant date. Expected volatility is estimated based on the Company and daily trading prices of the market index, adjusted for dividends and stock splits over the remaining performance period. The risk-free interest rate is based upon the US Constant Maturity yield curve at the time of grant for the expected term of the performance share awards. Based on the assumptions noted above, the weighted average estimated grant date fair value per share of the stock options, restricted stock awards and performance share awards granted for 2022, 2021 and 2020 was as follows: 2022 2021 2020 Stock options $ — $ 27.31 $ 15.25 Restricted stock awards 63.14 67.51 40.77 Performance share awards 91.05 89.36 38.42

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME In addition to net (loss) income, comprehensive (loss) income includes foreign currency translation adjustments and unrealized losses on investments. Accumulated other comprehensive (loss) income consisted of the following, net of tax: 2022 2021 2020 Total accumulated other comprehensive (loss) income at beginning of period $ (948) $ 312 $ (158) Unrealized (losses) gains on investments Balance at beginning of period $ (887) $ 54 $ 100 Other comprehensive (loss) income before reclassifications (2,739) (941) (70) Amounts reclassified from accumulated other comprehensive (loss) income to interest income (72) — 24 Balance at end of period $ (3,698) $ (887) $ 54 Foreign currency translation adjustment Balance at beginning of period $ (61) $ 258 $ (258) Other comprehensive (loss) income before reclassifications (774) (768) 555 Amounts reclassified from accumulated other comprehensive (loss) income to other (expense) income 437 449 (39) Balance at end of period $ (398) $ (61) $ 258 Total accumulated other comprehensive (loss) income at end of period $ (4,096) $ (948) $ 312

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation— The Consolidated Financial Statements include the accounts of AtriCure, Inc. and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents— The Company considers highly liquid investments with maturities of three months or less at the date of purchase as cash equivalents. Cash equivalents include demand deposits, money market funds and repurchase agreements on deposit with financial institutions.
Investments	Investments— The Company invests primarily in government and agency obligations, corporate bonds, commercial paper and asset-backed securities and classifies all investments as available-for-sale. Investments maturing in less than one year are classified as short-term investments. Investments are recorded at fair value, with unrealized gains and losses recorded as accumulated other comprehensive income (loss). Gains and losses are recognized using the specific identification method when securities are sold and are included in interest income.
Revenue Recognition	Revenue Recognition — Revenue is generated primarily from the sale of medical devices. Sales of devices are categorized based on the type of product as follows: open ablation, minimally invasive ablation, pain management and appendage management. The Company recognizes revenue when control of promised devices is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those devices. Revenue is recognized at a point in time upon shipment or delivery of products. Shipping and handling activities performed after control transfers to customers are considered activities to fulfill the promise to transfer the products. Revenue includes shipping and handling revenue of $1,496, $1,354 and $1,192 in the years ended December 31, 2022, 2021 and 2020. Products are sold primarily through a direct sales force and through distributors in certain international markets. Terms of sale are generally consistent for both end-users and distributors, except that payment terms are generally net 30 days for end-users and net 60 days for distributors, with some exceptions. The Company does not maintain any post-shipping obligations to customers; no installation, calibration or testing of products is performed subsequent to shipment in order to render products operational. The Company expects to be entitled to the total consideration for the products ordered as product pricing is fixed and payment terms fall within one year to forgo adjustment for the effects of a significant financing component. The Company excludes taxes assessed by governmental authorities on revenue-producing transactions from the measurement of the transaction price. Costs associated with product sales include commission expense for product sales and royalties paid for sales of certain products. As revenue from product sales are satisfied at a point in time, commission expense and royalties are incurred at that point in time rather than over time. Commissions are included in selling, general and administrative expenses, while royalties are included in cost of revenue. Significant judgments and estimates involved in the Company’s recognition of revenue include the estimation of a provision for returns. In the normal course of business, the Company generally does not accept product returns unless a product is defective as manufactured. The Company does not provide customers with the right to a refund.
Sales Returns and Allowances	Sales Returns and Allowances — The Company maintains a provision for potential returns of defective or damaged products, and invoice adjustments. The Company adjusts the provision using the expected value method based on historical experience. Increases to the provision reduce revenue, and the provision is included in accrued liabilities.
Allowance for Credit Losses on Accounts Receivable	Allowance for Credit Losses on Accounts Receivable —The Company evaluates expected credit losses on accounts receivable, considering historical credit losses, current customer-specific information and other relevant factors when determining the allowance. An increase to the allowance for credit losses results in a corresponding increase in selling, general and administrative expenses. The Company charges off uncollectible receivables against the allowance when all attempts to collect the receivable have failed. The Company’s history of write-offs has not been significant. Recoveries are recognized when received as a reduction to the allowance for credit losses by decreasing bad debt expense. The following table provides a reconciliation of the changes in the allowance for estimated accounts receivable credit losses for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 2021 2020 Beginning balance - January 1 $ 1,096 $ 1,096 $ 1,124 Adoption of ASU 2016-13 — — (28) Provision for expected credit losses 190 65 — Recovery (1,056) (65) — Ending balance - December 31 $ 230 $ 1,096 $ 1,096
Inventories	Inventories—Inventories are stated at the lower of cost or net realizable value based on the first-in, first-out cost method (FIFO) and consist of raw materials, work in process and finished goods. The Company’s industry is characterized by rapid product development and frequent new product introductions. Uncertain timing of regulatory approvals, variability in product launch strategies and variation in product use all impact inventory reserves for excess, obsolete and expired products. An increase to inventory reserves results in a corresponding increase in cost of revenue. Inventories are written off against the reserve when they are physically disposed.
Property and Equipment	Property and Equipment—Property and equipment is stated at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful life. The estimated useful life of leasehold improvements is the shorter of the estimated life or the lease term. The estimated useful lives of buildings is 15 to 20 years, while furniture, fixtures, computers and office equipment are depreciated from three
Intangible Assets	Intangible Assets— Intangible assets with determinable useful lives are amortized on a straight-line basis over the estimated fifteen year period benefited. The Company reviews intangible assets at least annually for impairment using its best estimates based on reasonable and supportable assumptions and projections.
Goodwill	Goodwill— Goodwill represents the excess of purchase price over the fair value of the net assets acquired in business combinations. The Company’s goodwill is accounted for in a single reporting unit representing the Company as a whole. The Company performs impairment testing annually on October 1 or more often if impairment indicators are present.
Long-lived Assets	Long-lived Assets— The Company reviews property and equipment and intangible assets, excluding goodwill, for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. When such an event occurs, management determines whether there has been impairment by comparing the anticipated undiscounted future net cash flows to the related asset's carrying value.
Leases	Leases —The Company leases office, manufacturing and warehouse facilities and computer equipment under leases that qualify as either financing or operating leases, as determined at the inception of the lease arrangement. Lease assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make payments under the lease. Lease assets and liabilities are measured and recorded at the commencement date based on the present value of payments over the lease term. Lease assets and liabilities include lease incentives and options to extend or terminate when it is reasonably certain the Company will exercise that option. The Company uses the implicit rate when readily determinable; however, as most leases do not provide an implicit rate, the Company generally uses its incremental borrowing rate. The Company also applies the short-term lease recognition exemption, recognizing lease payments in profit or loss, for lease terms of 12 months or less at commencement and with no option to extend the lease whose exercise is reasonably certain. The Company accounts for the lease and non-lease components as a single lease component. Additionally, the portfolio approach is applied for operating leases based on the terms of the underlying leases.
Other Noncurrent Liabilities	Other Noncurrent Liabilities—This balance consists of contractual obligations, including asset retirement obligations.
Other Income (Expense)	Other Income (Expense)—Other income (expense) consists primarily of foreign currency transaction gains and losses generated by settlements of intercompany balances denominated in Euros and customer invoices transacted in British Pounds and Australian Dollars
Income Taxes	Income Taxes —Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities from a change in tax rates is recognized in the period that includes the enactment date. The Company’s estimate of the valuation allowance for deferred income tax assets requires significant estimates and judgments about future operating results. Deferred income tax assets are reduced by valuation allowances if, based on the consideration of all available evidence, it is more-likely-than-not that a deferred income tax asset will not be realized. Significant weight is given to evidence that can be objectively verified. The Company evaluates deferred income tax assets on an annual basis to determine if valuation allowances are required by considering all available evidence. Deferred income tax assets are realized by having sufficient future taxable income to allow the related tax benefits to reduce taxes otherwise payable. The sources of taxable income that may be available to realize the benefit of deferred income tax assets are future taxable income, future reversals of existing taxable temporary differences, taxable income in prior carryforward years and tax planning strategies that are both prudent and feasible. In evaluating the need for a valuation allowance, the existence of cumulative losses in recent years is significant objectively-verifiable negative evidence that must be overcome by objectively-verifiable positive evidence to avoid the need for a valuation allowance. The Company's valuation allowance offsets substantially all net deferred income tax assets as it is more-likely-than-not that the benefit of the deferred income tax assets will not be recognized in future periods. The Company has not reclassified income tax effects of the Tax Cuts and Jobs Act within accumulated other comprehensive (loss) income to retained earnings due to its full valuation allowance.
Earnings Per Share	Earnings Per Share—Basic earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflects net income available to common stockholders divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including shares issuable upon the vesting of restricted stock awards and restricted stock units, exercise of stock options as well as shares issuable under the Company's employee stock purchase plan (ESPP).
Research and Development Costs	Research and Development Costs — Research and development costs include compensation and other internal and external costs associated with the development and research of new and existing products or concepts, preclinical studies, clinical trials and related regulatory activities, as well as amortization of technology assets. Research and development costs are expensed as incurred. Clinical trial costs and other development costs incurred by third parties are expensed as contracted work is performed.
Advertising Costs	Advertising Costs — The Company expenses advertising costs as incurred. Advertising expense was $1,233, $907 and $655 during the years ended December 31, 2022, 2021 and 2020.
Share-Based Compensation	Share-Based Compensation— The Company recognizes share-based compensation expense for all share-based payment awards, including stock options, restricted stock awards, restricted stock units, performance share awards (PSAs) and stock purchases related to an employee stock purchase plan, based on estimated fair values. The value of the portion of an award that is ultimately expected to vest is recognized as expense over the service period. The Company estimates forfeitures at the time of grant and revises them, as necessary, in subsequent periods as actual forfeitures differ from those estimates. The Company estimates the fair value of time-based options on the date of grant using the Black-Scholes option-pricing model (Black-Scholes model). The Company’s determination of the fair value is affected by the Company’s stock price as well as several subjective assumptions, such as the Company’s expected stock price volatility over the term of the awards and actual and projected employee stock option exercise behaviors. The Company estimates the fair value of restricted stock awards and restricted stock units based upon the grant date closing market price of the Company’s common stock. The Company estimates the fair value of PSAs with a performance condition based on the closing stock price on the date of grant assuming the performance target will be achieved and may adjust expense over the performance period based on changes to estimates of performance target achievement. If such targets are not met or service is not rendered for the requisite service period, no compensation cost is recognized, and any recognized compensation cost in prior periods will be reversed. For PSAs with a market condition, a Monte Carlo simulation is performed to estimate the fair value on the date of grant, and compensation cost is recognized over the requisite service period as the employee renders service, even if the market condition is not satisfied. The Company’s determination of the fair value is affected by the Company and market index stock performance, as defined by the award agreement, at the beginning of the service period and grant date; the expected volatility of the Company and market index stock performance over the performance period and the correlation coefficient of the daily returns for the Company and market index over the performance period. The Company also has an employee stock purchase plan (ESPP) which is available to all eligible employees as defined by the plan document. Under the ESPP, shares of the Company’s common stock may be purchased at a discount. The Company estimates the number of shares to be purchased under the ESPP at the beginning of each purchase period based upon the fair value of the stock at the beginning of the purchase period using the Black-Scholes model and records estimated compensation expense during the purchase period. Expense is adjusted at the time of stock purchase.
Use of Estimates	Use of Estimates— The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires estimates and assumptions that affect the reported amounts of assets and liabilities, including intangible assets, contingent assets and liabilities and the reported amounts of revenue and expense during the reporting period. Estimates are based on historical experience, where applicable, and other assumptions believed to be reasonable by management. Actual results could differ from those estimates.
Segments	Segments— The Company evaluates reporting segments in accordance with FASB ASC 280, “Segment Reporting”. The Company develops, manufactures and sells devices designed primarily for the surgical ablation of cardiac tissue, systems designed for the exclusion of the left atrial appendage and devices designed to block pain by temporarily ablating peripheral nerves. These devices are developed and marketed to a broad base of medical centers globally. Management considers all such sales to be part of a single operating segment. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis, accompanied only by information about revenue by product type and geographic area, for purposes of allocating resources and evaluating financial performance. Accordingly, the Company has determined that it has a single operating segment.
Fair Value Disclosures	Fair Value Disclosures —The Company classifies cash investments in U.S. government and agency obligations, accounts receivable, other current assets, and accounts payable as Level 1. The carrying amounts of these assets and liabilities approximate their fair value due to their relatively short-term nature. Cash equivalents and investments in corporate bonds, repurchase agreements, commercial paper and asset-backed securities are classified as Level 2 within the fair value hierarchy. The fair value of fixed term debt is estimated by calculating the net present value of future debt payments at current market interest rates and is classified as Level 2. The book value of the Company’s fixed term debt approximates its fair value because the interest rate varies with market rates. Significant unobservable inputs with respect to the fair value measurements of the Level 3 contingent consideration liabilities are developed using Company data. See Note 2 – Fair Value for further information on fair value measurements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements—The Company has considered all recent accounting pronouncements and has concluded that there are no recent accounting pronouncements which are expected to have a material effect on the Company's financial statements. The Company continues to monitor and evaluate recently issued accounting guidance upon issuance for any potential impact.
Accumulated Other Comprehensive Income (Loss)	In addition to net (loss) income, comprehensive (loss) income includes foreign currency translation adjustments and unrealized losses on investments.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable, Allowance for Credit Loss	The following table provides a reconciliation of the changes in the allowance for estimated accounts receivable credit losses for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 2021 2020 Beginning balance - January 1 $ 1,096 $ 1,096 $ 1,124 Adoption of ASU 2016-13 — — (28) Provision for expected credit losses 190 65 — Recovery (1,056) (65) — Ending balance - December 31 $ 230 $ 1,096 $ 1,096
Schedule of Weighted Average Number of Shares	Year Ended December 31, 2022 2021 2020 Net (loss) income available to common stockholders $ (46,466) $ 50,199 $ (48,155) Basic weighted average common shares outstanding 45,740 45,066 42,125 Effect of dilutive securities — 973 — Diluted weighted average common shares outstanding 45,740 46,039 42,125 Basic net (loss) income per common share $ (1.02) $ 1.11 $ (1.14) Diluted net (loss) income per common share $ (1.02) $ 1.09 $ (1.14)

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022: Quoted Prices Significant Significant Total Assets: Money market funds $ — $ 54,414 $ — $ 54,414 Commercial paper — 11,935 — 11,935 Government and agency obligations 32,637 — — 32,637 Corporate bonds — 67,598 — 67,598 Asset-backed securities — 2,353 — 2,353 Total assets $ 32,637 $ 136,300 $ — $ 168,937 There were no changes in the levels or methodology of measurement of financial assets and liabilities during the years ended December 31, 2022 and 2021. The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021: Quoted Prices Significant Significant Total Assets: Money market funds $ — $ 38,360 $ — $ 38,360 Commercial paper — 22,978 — 22,978 Government and agency obligations 32,690 — — 32,690 Corporate bonds — 95,845 — 95,845 Asset-backed securities — 28,261 — 28,261 Total assets $ 32,690 $ 185,444 $ — $ 218,134
Level 3 Fair Value Measurements Using Significant Other Unobservable Inputs for Acquisition-Related Contingent Consideration	The following table represents the Company’s Level 3 fair value measurements using significant other unobservable inputs for acquisition-related contingent consideration for each of the years ended December 31: 2022 2021 2020 Beginning Balance – January 1 $ — $ 184,800 $ 185,157 Amounts acquired — — — Changes in fair value of contingent consideration — (184,800) (357) Ending Balance – December 31 $ — $ — $ 184,800

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Summary of Short-term Investments	Investments as of December 31, 2022 consisted of the following: Cost Basis Unrealized Fair Value Corporate bonds $ 69,832 $ (2,234) $ 67,598 Government and agency obligations 33,971 (1,334) 32,637 Commercial paper 11,935 — 11,935 Asset-backed securities 2,483 (130) 2,353 Total $ 118,221 $ (3,698) $ 114,523 Investments as of December 31, 2021 consisted of the following: Cost Basis Unrealized Fair Value Corporate bonds $ 96,408 $ (563) $ 95,845 Government and agency obligations 32,953 (263) 32,690 Commercial paper 22,978 — 22,978 Asset-backed securities 28,322 (61) 28,261 Total $ 180,661 $ (887) $ 179,774
Summary of Cost and Fair Vale of Investments in Debt Securities	The cost and fair value of investments in debt securities, by contractual maturity, as of December 31, 2022 were as follows: Available-for-sale Amortized Cost Fair Value Due in 1 year or less $ 63,596 $ 62,840 Due after 1 year through 5 years 52,142 49,330 Due after 5 years through 10 years — — Instruments not due at a single maturity date 2,483 2,353 Total $ 118,221 $ 114,523

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Company's Intangible Assets	The following table provides a summary of the Company’s intangible assets at December 31: 2022 2021 Cost Accumulated Amortization Cost Accumulated Amortization Technology $ 46,470 $ 7,131 $ 55,712 $ 12,720
Future Amortization Expense Related To Intangible Assets With Definite Lives	Future amortization expense is projected as follows: 2023 $ 2,953 2024 2,953 2025 2,953 2026 2,953 2027 2,953 2028 and thereafter 24,574 Total $ 39,339
Summary of Company's Goodwill	The following table provides a summary of the Company’s goodwill, which is not amortized, but rather tested annually for impairment: Net carrying amount as of December 31, 2020 $ 234,781 Additions — Net carrying amount as of December 31, 2021 234,781 Additions — Net carrying amount as of December 31, 2022 $ 234,781

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consisted of the following at December 31: 2022 2021 Raw materials $ 19,880 $ 12,653 Work in process 2,959 2,064 Finished goods 23,092 24,247 Inventories $ 45,931 $ 38,964

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consisted of the following at December 31: 2022 2021 Buildings and improvements $ 28,947 $ 22,977 Generators 21,354 20,175 Machinery and office equipment 20,184 14,758 Computer equipment and software 10,251 7,762 Construction in progress 3,909 5,999 Land 1,006 1,006 Total 85,651 72,677 Less accumulated depreciation (46,818) (41,268) Property and equipment, net $ 38,833 $ 31,409

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued liabilities consisted of the following at December 31: 2022 2021 Accrued compensation and employee-related expenses $ 26,924 $ 30,990 Other accrued liabilities 3,301 2,686 Sales returns and allowances 2,797 2,416 Total $ 33,022 $ 36,092

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Future Maturities on Debt	Future maturities of long-term debt, excluding the term loan final fee, are projected as follows: 2023 $ 3,333 2024 20,000 2025 20,000 2026 16,667 Total long-term debt, of which $3,333 is current and $56,667 is noncurrent $ 60,000

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Summary of Weighted Average Remaining Lease Term and Discount Rate	The weighted average remaining lease term and the discount rate for the reporting periods are as follows: As of As of As of December 31, 2022 December 31, 2021 December 31, 2020 Operating Leases Weighted average remaining lease term (years) 4.4 3.6 3.2 Weighted average discount rate 4.60 % 4.69 % 5.68 % Finance Leases Weighted average remaining lease term (years) 7.6 8.6 9.7 Weighted average discount rate 6.92 % 6.91 % 6.91 %
Summary of Components of Lease Expense	The components of lease expense are as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Operating lease cost $ 1,133 $ 1,052 $ 1,237 Finance lease cost: Amortization of right-of-use assets 1,016 1,019 1,050 Interest on lease liabilities 735 792 844 Total finance lease cost $ 1,751 $ 1,811 $ 1,894
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases was as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 845 $ 998 $ 1,236 Operating cash flows for finance leases 735 620 844 Financing cash flows for finance leases 899 792 664 Right-of-use assets obtained in exchange for lease obligations: Operating Leases — 3,752 1,421 Finance Leases 62 — 22 Early termination of operating lease — — 2,743
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: As of December 31, 2022 As of December 31, 2021 Operating Leases Operating lease right-of-use assets $ 3,787 $ 4,761 Other current liabilities and current maturities of debt and leases 1,147 861 Operating lease liabilities 3,095 4,068 Total operating lease liabilities $ 4,242 $ 4,929 Finance Leases Property and equipment, at cost $ 14,645 $ 14,607 Accumulated depreciation (7,109) (6,116) Property and equipment, net $ 7,536 $ 8,491 Other current liabilities and current maturities of debt and leases $ 992 $ 895 Finance lease liabilities 9,147 10,082 Total finance lease liabilities $ 10,139 $ 10,977
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities as of December 31, 2022 were as follows: Operating Leases Finance Leases 2023 $ 1,160 $ 1,665 2024 1,164 1,689 2025 920 1,638 2026 592 1,671 2027 609 1,703 2028 and thereafter 259 4,824 Total payments $ 4,704 $ 13,190 Less imputed interest (462) (3,051) Total lease liabilities $ 4,242 $ 10,139

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Revenue by Product Type	United States revenue by product type is as follows: 2022 2021 2020 Open ablation $ 86,119 $ 72,396 $ 65,301 Minimally invasive ablation 38,553 39,380 25,647 Pain management 39,974 22,787 11,315 Total ablation $ 164,646 $ 134,563 $ 102,263 Appendage management 112,555 94,568 66,981 Total United States $ 277,201 $ 229,131 $ 169,244 International revenue by product type is as follows: 2022 2021 2020 Open ablation $ 26,809 $ 23,194 $ 18,760 Minimally invasive ablation 5,986 6,409 6,171 Pain management 558 61 3 Total ablation $ 33,353 $ 29,664 $ 24,934 Appendage management 19,825 15,534 12,353 Total International $ 53,178 $ 45,198 $ 37,287
Summary of Revenue by Geographic Area	Revenue attributed to customer geographic locations is as follows: 2022 2021 2020 United States $ 277,201 $ 229,131 $ 169,244 Europe 30,428 27,931 23,217 Asia 20,734 16,077 13,118 Other International 2,016 1,190 952 Total International 53,178 45,198 37,287 Total Revenue $ 330,379 $ 274,329 $ 206,531

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Summary of Company's Provision for Income Taxes	The Company’s provision for income taxes for each of the years ended December 31 is as follows: 2022 2021 2020 Current tax expense Federal $ — $ — $ (26) State 142 42 78 Foreign 118 125 74 Total current tax expense 260 167 126 Deferred tax expense Federal $ (8,351) $ (30,925) $ (10,304) State (459) (4,803) (1,686) Foreign (1,636) (826) (3,071) Change in valuation allowance 10,454 36,575 15,049 Total deferred tax expense 8 21 (12) Total tax expense $ 268 $ 188 $ 114
Summary of Detail of Deferred Tax Assets and Liabilities	The detail of deferred tax assets and liabilities at December 31 is as follows: 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 138,263 $ 137,920 Research and development credit carryforwards 13,205 11,269 Research and experimental expenditures 10,104 — Equity compensation 8,287 7,974 Finance and operating lease liabilities 3,395 3,700 Deferred interest 2,411 2,469 Inventories 1,896 2,434 Accruals and reserves 1,332 1,755 Other 506 587 Total deferred tax assets 179,399 168,108 Deferred tax liabilities: Intangible assets (9,278) (9,993) Right-of-use assets (2,626) (3,037) Property and equipment (2,568) (1,264) Total deferred tax liabilities (14,472) (14,294) Valuation allowance (164,918) (153,798) Net deferred tax assets $ 9 $ 16
Summary of Difference Between Effective Income Tax Rates and Federal Statutory Rate	The Company’s 2022, 2021 and 2020 effective income tax rates differ from the federal statutory rate as follows: 2022 2021 2020 Federal tax at statutory rate 21.0 % $ (9,701) 21.0 % $ 10,580 21.0 % $ (10,088) Permanent differences (1.9) 876 (80.3) (40,439) (2.5) 1,214 Valuation allowance (22.6) 10,454 72.6 36,575 (31.3) 15,048 State income taxes 0.7 (317) (9.4) (4,760) 3.3 (1,607) Federal R&D credit 4.2 (1,936) (3.7) (1,878) 2.0 (985) Foreign income taxes (0.5) 215 0.7 344 4.5 (2,140) Federal deferred adjustments (1.5) 677 (0.5) (234) 2.8 (1,328) Effective tax rate (0.6) % $ 268 0.4 % $ 188 (0.2) % $ 114
Summary of Reconciliation of Change in Federal and State Unrecognized Tax Benefits	A reconciliation of the change in federal and state unrecognized tax benefits for 2022, 2021 and 2020 is presented below: 2022 2021 2020 Balance at the beginning of the year $ 1,798 $ 1,798 $ 1,777 Increases (decreases) for prior year tax positions (36) — 21 Increases (decreases) for current year tax positions — — — Increases (decreases) related to settlements — — — Decreases related to statute lapse — — — Balance at the end of the year $ 1,762 $ 1,798 $ 1,798

Equity Compensation Plans (Tabl

Equity Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Activity Under Stock Based Compensation Plans	Activity under the plans during 2022 was as follows: Weighted Weighted Average Number of Average Remaining Aggregate Shares Exercise Contractual Intrinsic Time-Based Stock Options Outstanding Price Term Value Outstanding at January 1, 2022 653 $ 25.53 Granted — — Exercised (159) 11.45 Forfeited (13) 55.33 Outstanding at December 31, 2022 481 $ 29.34 4.2 $ 9,437 Vested and expected to vest 479 $ 29.17 4.2 $ 9,436 Exercisable at December 31, 2022 411 $ 23.46 3.5 $ 9,352 Weighted Weighted RSA Average PSA Average Shares Grant Date Shares Grant Date Restricted Stock Awards and Performance Share Awards Outstanding Fair Value Outstanding Fair Value Outstanding at January 1, 2022 628 $ 50.96 227 $ 64.27 Awarded 356 63.14 117 91.05 Released (362) 47.58 (116) 44.21 Forfeited (24) 57.45 (15) 55.17 Outstanding at December 31, 2022 598 $ 60.00 213 $ 90.70
Share-Based Compensation Expense Related to Employee Share-Based Compensation	The following table summarizes total share-based compensation expense related to employees, directors and consultants for 2022, 2021 and 2020. The expense was allocated as follows: 2022 2021 2020 Cost of revenue $ 1,868 $ 2,243 $ 1,425 Research and development expenses 4,544 4,206 3,530 Selling, general and administrative expenses 22,359 21,629 17,687 Total $ 28,771 $ 28,078 $ 22,642 The expense by award type was allocated as follows: 2022 2021 2020 Restricted Stock Awards & Time-Based Stock Options $ 18,633 $ 18,727 $ 18,612 Performance Share Awards 8,731 8,095 2,921 ESPP 1,407 1,256 1,109 Total $ 28,771 $ 28,078 $ 22,642
Assumptions Used for Determining Fair Value of Options	The fair value of options is estimated on the grant date using the Black-Scholes model. No options were granted during 2022. Options granted in prior years included the following assumptions: 2021 2020 Range of risk-free interest rate 0.43-1.22% 0.30 - 1.73% Range of expected life of stock options (years) 5.3 to 5.7 5.2 to 5.7 Range of expected volatility of stock 40.00 - 43.00% 40.00 - 43.00% Weighted-average volatility 41.84% 41.54% Dividend yield 0.00% 0.00%
Schedule of Share-Based Payment Award, Equity Instruments Other Than Options, Valuation Assumptions	The fair value of performance share awards with a market condition is estimated on the grant date using a Monte Carlo simulation and includes the following assumptions: 2022 2021 Stock price $39.94 - $69.59 $ 66.31 Expected term (years) 2.6 to 2.8 2.8 Company volatility 43.50 - 46.90% 42.10% Market index average volatility 90.30 - 92.00% 91.00% Market index average correlation 33.50 - 35.40% 31.50% Risk-free interest rate 1.40 - 2.70% 0.20% Dividend yield 0.00% 0.00%
Weighted Average Estimated Grant Date Fair Value Per Share of Stock Options, Restricted Stock Granted, And Performance Awards	Based on the assumptions noted above, the weighted average estimated grant date fair value per share of the stock options, restricted stock awards and performance share awards granted for 2022, 2021 and 2020 was as follows: 2022 2021 2020 Stock options $ — $ 27.31 $ 15.25 Restricted stock awards 63.14 67.51 40.77 Performance share awards 91.05 89.36 38.42

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive (loss) income consisted of the following, net of tax: 2022 2021 2020 Total accumulated other comprehensive (loss) income at beginning of period $ (948) $ 312 $ (158) Unrealized (losses) gains on investments Balance at beginning of period $ (887) $ 54 $ 100 Other comprehensive (loss) income before reclassifications (2,739) (941) (70) Amounts reclassified from accumulated other comprehensive (loss) income to interest income (72) — 24 Balance at end of period $ (3,698) $ (887) $ 54 Foreign currency translation adjustment Balance at beginning of period $ (61) $ 258 $ (258) Other comprehensive (loss) income before reclassifications (774) (768) 555 Amounts reclassified from accumulated other comprehensive (loss) income to other (expense) income 437 449 (39) Balance at end of period $ (398) $ (61) $ 258 Total accumulated other comprehensive (loss) income at end of period $ (4,096) $ (948) $ 312

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Revenue	$ 330,379	$ 274,329	$ 206,531
Terms of sale for end-users (in days)	30 days
Terms of sale for distributors (in days)	60 days
Payment term for products ordered	1 year
Recovery	$ 1,056	$ 65	$ 0
Options, restricted stock and performance based shares excluded from calculation of net loss per share	1,292	404	2,301
Advertising costs	$ 1,233	$ 907	$ 655
United States
Finite-Lived Intangible Assets [Line Items]
Revenue	277,201	229,131	169,244
Long-lived assets	1,616
Europe
Finite-Lived Intangible Assets [Line Items]
Revenue	$ 30,428	27,931	23,217
Long-lived assets		1,399
Generators
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of PPE (in years)	3 years
Maximum | Building [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of PPE (in years)	20 years
Maximum | Production Equipment, Furniture And Fixtures, Computer, Software, And Office Equipment
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of PPE (in years)	7 years
Minimum | Building [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of PPE (in years)	15 years
Minimum | Production Equipment, Furniture And Fixtures, Computer, Software, And Office Equipment
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of PPE (in years)	3 years
Shipping and Handling
Finite-Lived Intangible Assets [Line Items]
Revenue	$ 1,496	$ 1,354	$ 1,192
In Process Research and Development | EPi-Sense
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful life (in years)	15 years

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies (Allowance for Credit Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance - January 1	$ 1,096	$ 1,096	$ 1,124
Provision for expected credit losses	190	65	0
Recovery	(1,056)	(65)	0
Ending balance - December 31	230	1,096	1,096
Accounting Standards Update 2016-13
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance - January 1	$ 0	0	(28)
Ending balance - December 31		$ 0	$ 0

Description of Business and S_6

Description of Business and Summary of Significant Accounting Policies (Weighted Average Common Shares Outstanding) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net (loss) income available to common stockholders	$ (46,466)	$ 50,199	$ (48,155)
Basic weighted average common shares outstanding (in shares)	45,740	45,066	42,125
Effect of dilutive securities	$ 0	$ 973	$ 0
Diluted weighted average common shares outstanding (in shares)	45,740	46,039	42,125
Basic net (loss) income per common share (in usd per share)	$ (1.02)	$ 1.11	$ (1.14)
Diluted net (loss) income per common share (in usd per share)	$ (1.02)	$ 1.09	$ (1.14)

Fair Value (Financial Assets An

Fair Value (Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets:
Total assets	$ 114,523
Fair Value, Measurements, Recurring
Assets:
Total assets	168,937	$ 218,134
Fair Value, Measurements, Recurring | Money market funds
Assets:
Total assets	54,414	38,360
Fair Value, Measurements, Recurring | Commercial paper
Assets:
Total assets	11,935	22,978
Fair Value, Measurements, Recurring | Government and agency obligations
Assets:
Total assets	32,637	32,690
Fair Value, Measurements, Recurring | Corporate bonds
Assets:
Total assets	67,598	95,845
Fair Value, Measurements, Recurring | Asset-backed securities
Assets:
Total assets	2,353	28,261
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Total assets	32,637	32,690
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Government and agency obligations
Assets:
Total assets	32,637	32,690
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Total assets	136,300	185,444
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Money market funds
Assets:
Total assets	54,414	38,360
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Commercial paper
Assets:
Total assets	11,935	22,978
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Government and agency obligations
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds
Assets:
Total assets	67,598	95,845
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Asset-backed securities
Assets:
Total assets	2,353	28,261
Fair Value, Measurements, Recurring | Significant Other Unobservable Inputs (Level 3)
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Significant Other Unobservable Inputs (Level 3) | Money market funds
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Significant Other Unobservable Inputs (Level 3) | Commercial paper
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Significant Other Unobservable Inputs (Level 3) | Government and agency obligations
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Significant Other Unobservable Inputs (Level 3) | Corporate bonds
Assets:
Total assets	0	0
Fair Value, Measurements, Recurring | Significant Other Unobservable Inputs (Level 3) | Asset-backed securities
Assets:
Total assets	$ 0	$ 0

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in levels or methodology		$ 0	$ 0
Change in fair value of contingent consideration		0	(184,800,000)	$ (357,000)
Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Remaining fair value		$ 0	$ 0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of contingent consideration	$ 184,800,000

Fair Value (Level 3 Fair Value

Fair Value (Level 3 Fair Value Measurements Using Significant Other Unobservable Inputs For Acquisition-Related Contingent Consideration) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Change in fair value of contingent consideration (Note 2)	Change in fair value of contingent consideration (Note 2)	Change in fair value of contingent consideration (Note 2)
Significant Other Unobservable Inputs (Level 3)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning Balance – January 1	$ 0	$ 184,800	$ 185,157
Amounts acquired	0	0	0
Changes in fair value of contingent consideration	0	(184,800)	(357)
Ending Balance – December 31	$ 0	$ 0	$ 184,800

Investments (Summary Of Short-t

Investments (Summary Of Short-term Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Cost Basis	$ 118,221	$ 180,661
Unrealized Losses	(3,698)	(887)
Fair Value	114,523	179,774
Corporate bonds
Summary of Investment Holdings [Line Items]
Cost Basis	69,832	96,408
Unrealized Losses	(2,234)	(563)
Fair Value	67,598	95,845
Government and agency obligations
Summary of Investment Holdings [Line Items]
Cost Basis	33,971	32,953
Unrealized Losses	(1,334)	(263)
Fair Value	32,637	32,690
Commercial paper
Summary of Investment Holdings [Line Items]
Cost Basis	11,935	22,978
Unrealized Losses	0	0
Fair Value	11,935	22,978
Asset-backed securities
Summary of Investment Holdings [Line Items]
Cost Basis	2,483	28,322
Unrealized Losses	(130)	(61)
Fair Value	$ 2,353	$ 28,261

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Gain (loss) on investments	$ 0	$ 0	$ 0

Investments (Summary of Cost an

Investments (Summary of Cost and Fair Value) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Amortized Cost
Due in 1 year or less	$ 63,596
Due after 1 year through 5 years	52,142
Due after 5 years through 10 years	0
Instruments not due at a single maturity date	2,483
Total	118,221
Fair Value
Due in 1 year or less	62,840
Due after 1 year through 5 years	49,330
Due after 5 years through 10 years	0
Instruments not due at a single maturity date	2,353
Total	$ 114,523

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Company's Intangible Assets) (Details) - Technology - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Cost	$ 46,470	$ 55,712
Accumulated Amortization	$ 7,131	$ 12,720

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairment	$ 0	$ 82,300,000	$ 0
Intangible assets, net	39,339,000	42,992,000
Amortization of intangible assets	3,653,000	2,907,000	$ 1,682,000
In Process Research and Development | aMAZE
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairment		$ 82,300,000
Intangible assets, net	0
Technology
Finite-Lived Intangible Assets [Line Items]
Increase (decrease) in amortization	$ (9,242,000)

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Future Amortization Expense Related To Intangible Assets With Definite Lives) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 2,953
2024	2,953
2025	2,953
2026	2,953
2027	2,953
2028 and thereafter	24,574
Total	$ 39,339

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Summary Of Company's Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 234,781	$ 234,781
Additions	0	0
Ending balance	$ 234,781	$ 234,781

Inventories (Summary Of Invento

Inventories (Summary Of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 19,880	$ 12,653
Work in process	2,959	2,064
Finished goods	23,092	24,247
Inventories	$ 45,931	$ 38,964

Property and Equipment (Summary

Property and Equipment (Summary Of Property And Equipment) (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total	$ 85,651,000	$ 72,677,000
Less accumulated depreciation	(46,818,000)	(41,268,000)
Property and equipment, net	38,833,000	31,409,000
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total	28,947,000	22,977,000
Generators
Property, Plant and Equipment [Line Items]
Total	21,354,000	20,175,000
Machinery and office equipment
Property, Plant and Equipment [Line Items]
Total	20,184,000	14,758,000
Computer equipment and software
Property, Plant and Equipment [Line Items]
Total	10,251,000	7,762,000
Construction in progress
Property, Plant and Equipment [Line Items]
Total	3,909,000	5,999,000
Land
Property, Plant and Equipment [Line Items]
Total	$ 1,006,000	$ 1,006,000

Property and Equipment (Narrati

Property and Equipment (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 8,057	$ 7,534	$ 7,866
Generators
Property, Plant and Equipment [Line Items]
Net carrying value	$ 4,447	$ 3,637

Accrued Liabilities (Accrued Li

Accrued Liabilities (Accrued Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued compensation and employee-related expenses	$ 26,924	$ 30,990
Other accrued liabilities	3,301	2,686
Sales returns and allowances	2,797	2,416
Total	$ 33,022	$ 36,092

Indebtedness (Narrative) (Detai

Indebtedness (Narrative) (Details) - USD ($)			12 Months Ended
	Nov. 01, 2021	Sep. 01, 2021	Dec. 31, 2022
Line of Credit Facility [Line Items]
First required payment due		24 months
Amended loan payment deferral period	12 months
Silicon Valley Bank Agreement Effective 11/1/2021 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, borrowings	$ 30,000,000
Commitment fee percentage			0.20%
Borrowing availability threshold			$ 30,000,000
Line of credit, amount outstanding			0
Line of credit, revolving line of credit			$ 28,750,000
Term Loan | Silicon Valley Bank Agreement Effective 11/1/2021
Line of Credit Facility [Line Items]
Loan amount	60,000,000
Expansion of borrowing capacity	$ 30,000,000
Debt instrument, term	5 years
Annual commitment fee, percentage			3%
Annual commitment fee			$ 420,000
Financing costs			$ 253,000
Term Loan | Silicon Valley Bank Agreement Effective 11/1/2021 | Prime Rate
Line of Credit Facility [Line Items]
Basis rate	1.25%

Indebtedness (Future Maturities

Indebtedness (Future Maturities On Debt) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 3,333
2024	20,000
2025	20,000
2026	16,667
Long-Term Debt, Current Maturities, Excluding Fees	3,333
Total long-term debt, of which $3,333 is current and $56,667 is noncurrent	60,000
Long-term debt	$ 56,667

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Oct. 31, 2015
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	8 years
Letter of Credit | Mason Lease
Lessee, Lease, Description [Line Items]
Letter of credit outstanding		$ 1,250

Leases (Summary Of Weighted Ave

Leases (Summary Of Weighted Average Remaining Lease Term And Discount Rate) (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
Weighted average remaining lease term (years)	4 years 4 months 24 days	3 years 7 months 6 days	3 years 2 months 12 days
Weighted average discount rate	4.60%	4.69%	5.68%
Finance Leases
Weighted average remaining lease term (years)	7 years 7 months 6 days	8 years 7 months 6 days	9 years 8 months 12 days
Weighted average discount rate	6.92%	6.91%	6.91%

Leases (Summary Of Components O

Leases (Summary Of Components Of Lease Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 1,133	$ 1,052	$ 1,237
Finance lease cost:
Amortization of right-of-use assets	1,016	1,019	1,050
Interest on lease liabilities	735	792	844
Total finance lease cost	$ 1,751	$ 1,811	$ 1,894

Leases (Summary Of Supplemental

Leases (Summary Of Supplemental Cash Flow Information Related To Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 845	$ 998	$ 1,236
Operating cash flows for finance leases	735	620	844
Financing cash flows for finance leases	899	792	664
Right-of-use assets obtained in exchange for lease obligations:
Operating Leases	0	3,752	1,421
Finance Leases	62	0	22
Early termination of operating lease	$ 0	$ 0	$ 2,743

Leases (Summary Of Supplement_2

Leases (Summary Of Supplemental Balance Sheet Information Related To Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
Operating lease right-of-use assets	$ 3,787	$ 4,761
Other current liabilities and current maturities of debt and leases	1,147	861
Operating lease liabilities	3,095	4,068
Total operating lease liabilities	$ 4,242	$ 4,929
Operating lease, liability, current, statement of financial position [Extensible Enumeration]	Other current liabilities and current maturities of debt and leases	Other current liabilities and current maturities of debt and leases
Finance Leases
Property and equipment, at cost	$ 14,645	$ 14,607
Accumulated depreciation	(7,109)	(6,116)
Property and equipment, net	7,536	8,491
Other current liabilities and current maturities of debt and leases	992	895
Finance lease liabilities	9,147	10,082
Total finance lease liabilities	$ 10,139	$ 10,977
Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Finance lease, liability, current, statement of financial position [Extensible Enumeration]	Other current liabilities and current maturities of debt and leases	Other current liabilities and current maturities of debt and leases

Leases (Schedule Of Maturities

Leases (Schedule Of Maturities Of Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Leases
2023	$ 1,160
2024	1,164
2025	920
2026	592
2027	609
2028 and thereafter	259
Total payments	4,704
Less imputed interest	(462)
Total lease liabilities	4,242	$ 4,929
Finance Leases
2023	1,665
2024	1,689
2025	1,638
2026	1,671
2027	1,703
2028 and thereafter	4,824
Total payments	13,190
Less imputed interest	(3,051)
Total lease liabilities	$ 10,139	$ 10,977

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 23, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Royalty rates (in percent)		5%
Royalty expense		$ 3,264	$ 3,124	$ 2,596
Cleveland Clinic Foundation and IDx Medical vs. AtriCure | Pending Litigation
Loss Contingencies [Line Items]
Loss contingency, damages claimed	$ 6,000

Revenue (Revenue by Product Typ

Revenue (Revenue by Product Type) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from External Customer [Line Items]
Revenue	$ 330,379	$ 274,329	$ 206,531
United States
Revenue from External Customer [Line Items]
Revenue	277,201	229,131	169,244
Total International
Revenue from External Customer [Line Items]
Revenue	53,178	45,198	37,287
Total ablation | United States
Revenue from External Customer [Line Items]
Revenue	164,646	134,563	102,263
Total ablation | Total International
Revenue from External Customer [Line Items]
Revenue	33,353	29,664	24,934
Open ablation | United States
Revenue from External Customer [Line Items]
Revenue	86,119	72,396	65,301
Open ablation | Total International
Revenue from External Customer [Line Items]
Revenue	26,809	23,194	18,760
Minimally invasive ablation | United States
Revenue from External Customer [Line Items]
Revenue	38,553	39,380	25,647
Minimally invasive ablation | Total International
Revenue from External Customer [Line Items]
Revenue	5,986	6,409	6,171
Pain management | United States
Revenue from External Customer [Line Items]
Revenue	39,974	22,787	11,315
Pain management | Total International
Revenue from External Customer [Line Items]
Revenue	558	61	3
Appendage management | United States
Revenue from External Customer [Line Items]
Revenue	112,555	94,568	66,981
Appendage management | Total International
Revenue from External Customer [Line Items]
Revenue	$ 19,825	$ 15,534	$ 12,353

Revenue (Revenue by Geographic

Revenue (Revenue by Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from External Customer [Line Items]
Revenue	$ 330,379	$ 274,329	$ 206,531
United States
Revenue from External Customer [Line Items]
Revenue	277,201	229,131	169,244
Europe
Revenue from External Customer [Line Items]
Revenue	30,428	27,931	23,217
Asia
Revenue from External Customer [Line Items]
Revenue	20,734	16,077	13,118
Other International
Revenue from External Customer [Line Items]
Revenue	2,016	1,190	952
Total International
Revenue from External Customer [Line Items]
Revenue	$ 53,178	$ 45,198	$ 37,287

Income Taxes (Summary Of Compan

Income Taxes (Summary Of Company's Provision For Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current tax expense
Federal	$ 0	$ 0	$ (26)
State	142	42	78
Foreign	118	125	74
Total current tax expense	260	167	126
Deferred tax expense
Federal	(8,351)	(30,925)	(10,304)
State	(459)	(4,803)	(1,686)
Foreign	(1,636)	(826)	(3,071)
Change in valuation allowance	10,454	36,575	15,049
Total deferred tax expense	8	21	(12)
Total tax expense	$ 268	$ 188	$ 114

Income Taxes (Summary Of Detail

Income Taxes (Summary Of Detail Of Deferred Tax Assets And Liabilities) (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 138,263,000	$ 137,920,000
Research and development credit carryforwards	13,205,000	11,269,000
Research and experimental expenditures	10,104,000	0
Equity compensation	8,287,000	7,974,000
Finance and operating lease liabilities	3,395,000	3,700,000
Deferred interest	2,411,000	2,469,000
Inventories	1,896,000	2,434,000
Accruals and reserves	1,332,000	1,755,000
Other	506,000	587,000
Total deferred tax assets	179,399,000	168,108,000
Deferred tax liabilities:
Intangible assets	(9,278,000)	(9,993,000)
Right-of-use assets	(2,626,000)	(3,037,000)
Property and equipment	(2,568,000)	(1,264,000)
Total deferred tax liabilities	14,472,000	14,294,000
Valuation allowance	(164,918,000)	(153,798,000)
Net deferred tax assets	$ 9,000	$ 16,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Research and development credit carryforwards	$ 13,205	$ 11,269
Pre-tax income (loss) for domestic operations	(38,008)	55,666	$ (43,218)
Pre-tax income (loss) for international operations	(8,190)	(5,279)	(4,823)
Undistributed earnings of foreign subsidiaries	379
Unrecognized tax benefits that would result in adjustments to other tax accounts	1,762	$ 1,798	$ 1,798
Federal
Income Tax Contingency [Line Items]
Operating loss carryforward	175,758
Federal | Tax Year 2023 and 2037
Income Tax Contingency [Line Items]
Operating loss carryforward	331,169
Federal | Tax Year 2023 and 2042
Income Tax Contingency [Line Items]
Research and development credit carryforwards	13,205
State | Tax Year 2023 and 2042
Income Tax Contingency [Line Items]
Operating loss carryforward	322,819
Foreign
Income Tax Contingency [Line Items]
Operating loss carryforward	$ 60,381
Minimum | Research and development expenses
Income Tax Contingency [Line Items]
Amortization and capitalization period (in years)	5 years
Maximum | Research and development expenses
Income Tax Contingency [Line Items]
Amortization and capitalization period (in years)	15 years

Income Taxes (Summary Of Differ

Income Taxes (Summary Of Difference Between Effective Income Tax Rates And Federal Statutory Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal tax at statutory rate, percent	21%	21%	21%
Federal tax at statutory rate	$ (9,701)	$ 10,580	$ (10,088)
Permanent differences, percent	(1.90%)	(80.30%)	(2.50%)
Permanent differences	$ 876	$ (40,439)	$ 1,214
Valuation allowance, percent	(22.60%)	72.60%	(31.30%)
Valuation allowance	$ 10,454	$ 36,575	$ 15,048
State income taxes, percent	0.70%	(9.40%)	3.30%
State income taxes	$ (317)	$ (4,760)	$ (1,607)
Federal R&D credit, percent	4.20%	(3.70%)	2%
Federal R&D credit	$ (1,936)	$ (1,878)	$ (985)
Foreign income taxes, percent	(0.50%)	0.70%	4.50%
Foreign income taxes	$ 215	$ 344	$ (2,140)
Federal deferred adjustment, percent	(1.50%)	(0.50%)	2.80%
Federal deferred adjustments	$ 677	$ (234)	$ (1,328)
Effective tax rate, percent	(0.60%)	0.40%	(0.20%)
Total tax expense	$ 268	$ 188	$ 114

Income Taxes (Summary Of Reconc

Income Taxes (Summary Of Reconciliation of Change In Federal And State Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the year	$ 1,798	$ 1,798	$ 1,777
Decreases for prior year tax positions	(36)
Increases for prior year tax positions		0	21
Increases (decreases) for current year tax positions	0	0	0
Increases (decreases) related to settlements	0	0	0
Decreases related to statute lapse	0	0	0
Balance at the end of the year	$ 1,762	$ 1,798	$ 1,798

Concentrations (Details)

Concentrations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) customer	Dec. 31, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Number of customers | customer	10
Cash and cash equivalents balance in excess of FDIC limits | $	$ 57,849
Customer Concentration Risk | Net Revenue | Medical Devices
Concentration Risk [Line Items]
Percentage representation of significant customer	9.70%	10.50%	10.80%
Customer Concentration Risk | Accounts Receivable | Medical Devices
Concentration Risk [Line Items]
Percentage representation of significant customer	11.70%	16%

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Postemployment Benefits [Abstract]
Employee contribution percent	50%	50%	50%
Maximum percentage of employee contribution to the plan	8%	6%	6%
Company's matching contribution	$ 4,447,000	$ 2,651,000	$ 2,237,000
Discretionary contributions made	0	0	0
Total contributions to retirement plan	$ 446,000	$ 349,000	$ 244,000

Equity Compensation Plans (Narr

Equity Compensation Plans (Narrative) (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) plan shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 01, 2021 target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of incentive plans | plan	2
Number of weighted performance targets | target				2
Total shareholder return period	20 days
Total intrinsic value of options exercised	$ 5,565,000	$ 27,318,000	$ 29,594,000
Tax benefit recognized	0	0	0
Proceeds from stock option exercises	$ 1,816,000	8,175,000	10,835,000
Participants purchase limit (in shares) | shares	3
Incremental compensation expenses	$ 994,000	2,856,000	569,000
Time-Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiry of options from the date of grant	10 years
Stock options compensation costs	$ 1,160,000
Weighted average period of recognizing cost	1 year 4 months 24 days
Granted, number of shares outstanding, shares | shares	0
Restricted Stock Awards and Performance Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of restricted stock vested	$ 23,242,000	40,510,000	34,200,000
Unrecognized compensation costs related to non-vested performance options	$ 22,092,000
Weighted average period of recognizing cost	1 year 9 months 18 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of restricted stock vested	$ 5,185,000	$ 8,165,000	$ 4,003,000
Unrecognized compensation costs related to non-vested performance options	$ 11,648,000
Weighted average period of recognizing cost	1 year 8 months 12 days
Performance Shares | CAGR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighing of revenue (in percent)	0.60
Performance Shares | TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighing of revenue (in percent)	0.40
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout range (in percent)	0%	0%	0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout range (in percent)	300%	200%	100%
Stock Options and Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to non-vested share-based compensation arrangements with performance shares	$ 23,252,000
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance | shares	13,999,000
Shares available for future grants | shares	2,183,000
2014 Plan | Time-Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2014 Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting right of shares of common stock | shares	1
2008 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company's common stock may be purchased at a discount	15%
Offering period	6 months
Participants purchase limit value	$ 25,000
Shares available for future issuance under the ESPP | shares	184,000
First, Second, And Third Anniversaries | Stock Options, RSA's, and RSU's
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting percentage	33.30%

Equity Compensation Plans (Acti

Equity Compensation Plans (Activity Under Stock Based Compensation Plans) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Time-Based Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, number of shares outstanding, shares	653,000
Beginning balance, weighted average exercise price, usd per share	$ 25.53
Granted, number of shares outstanding, shares	0
Granted, weighted average exercise price, usd per share	$ 0
Exercised, number of shares outstanding, shares	(159,000)
Exercised, weighted average exercise price, usd per share	$ 11.45
Cancelled, number of shares outstanding, shares	(13,000)
Cancelled, weighted average exercise price, usd per share	$ 55.33
Ending balance, number of shares outstanding, shares	481,000	653,000
Ending balance, weighted average exercise price, usd per share	$ 29.34	$ 25.53
Vested and expected to vest, number of shares outstanding, shares	479,000
Vested and expected to vest, weighted average exercise price, usd per share	$ 29.17
Exercisable, ending balance, number of shares outstanding, shares	411,000
Exercisable, ending balance, weighted average exercise price, usd per share	$ 23.46
Outstanding, ending balance, weighted average remaining contractual term	4 years 2 months 12 days
Vested and expected to vest, ending balance, weighted average remaining contractual term	4 years 2 months 12 days
Exercisable, ending balance, ending balance, weighted average remaining contractual term	3 years 6 months
Outstanding, ending balance, aggregate intrinsic value, stock options	$ 9,437
Vested and expected to vest, aggregate intrinsic value, stock options	9,436
Exercisable, ending balance, aggregate intrinsic value, stock options	$ 9,352
Restricted Stock Awards and Performance Share Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance, number of shares outstanding	628,000
Awarded, number of shares outstanding	356,000
Released, number of shares outstanding	(362,000)
Forfeited, number of shares outstanding	(24,000)
Ending balance, number of shares outstanding	598,000	628,000
Beginning balance, weighted average grant date fair value (in usd per share)	$ 50.96
Awarded, weighted average grant date fair value (in usd per share)	63.14	$ 67.51	$ 40.77
Released, weighted average grant date fair value (in usd per share)	47.58
Forfeited, weighted average grant date fair value (in usd per share)	57.45
Ending balance, weighted average grant date fair value (in usd per share)	$ 60	$ 50.96
Restricted Stock Awards and Performance Share Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance, number of shares outstanding	227,000
Awarded, number of shares outstanding	117,000
Released, number of shares outstanding	(116,000)
Forfeited, number of shares outstanding	(15,000)
Ending balance, number of shares outstanding	213,000	227,000
Beginning balance, weighted average grant date fair value (in usd per share)	$ 64.27
Awarded, weighted average grant date fair value (in usd per share)	91.05	$ 89.36	$ 38.42
Released, weighted average grant date fair value (in usd per share)	44.21
Forfeited, weighted average grant date fair value (in usd per share)	55.17
Ending balance, weighted average grant date fair value (in usd per share)	$ 90.70	$ 64.27

Equity Compensation Plans (Shar

Equity Compensation Plans (Share-Based Compensation Expense Related To Employee Share-Based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 28,771	$ 28,078	$ 22,642
Restricted Stock Awards & Time-Based Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	18,633	18,727	18,612
Performance Share Awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	8,731	8,095	2,921
ESPP
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	1,407	1,256	1,109
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	1,868	2,243	1,425
Research and development expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	4,544	4,206	3,530
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 22,359	$ 21,629	$ 17,687

Equity Compensation Plans (Assu

Equity Compensation Plans (Assumptions Used For Determining Fair Value Of Options) (Details) - Time-Based Stock Options	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average volatility (in percent)	41.84%	41.54%
Dividend yield (in percent)	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of risk-free interest rate (in percent)	0.43%	0.30%
Range of expected life of stock options (years)	5 years 3 months 18 days	5 years 2 months 12 days
Range of expected volatility of stock (in percent)	40%	40%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of risk-free interest rate (in percent)	1.22%	1.73%
Range of expected life of stock options (years)	5 years 8 months 12 days	5 years 8 months 12 days
Range of expected volatility of stock (in percent)	43%	43%

Equity Compensation Plans (As_2

Equity Compensation Plans (Assumptions Used For Determining Fair Value Of Stock) (Details) - Performance Shares - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price (in usd per share)		$ 66.31
Expected term (years)		2 years 9 months 18 days
Company volatility (in percent)		42.10%
Market index average volatility (in percent)		91%
Market index average correlation (in percent)		0.3150
Range of risk-free interest rate (in percent)		0.20%
Dividend yield (in percent)	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price (in usd per share)	$ 39.94
Expected term (years)	2 years 7 months 6 days
Company volatility (in percent)	43.50%
Market index average volatility (in percent)	90.30%
Market index average correlation (in percent)	0.3350
Range of risk-free interest rate (in percent)	1.40%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price (in usd per share)	$ 69.59
Expected term (years)	2 years 9 months 18 days
Company volatility (in percent)	46.90%
Market index average volatility (in percent)	92%
Market index average correlation (in percent)	0.3540
Range of risk-free interest rate (in percent)	2.70%

Equity Compensation Plans (Weig

Equity Compensation Plans (Weighted Average Estimated Grant Date Fair Value Per Share Of Stock Options, Restricted Stock Granted, And Performance Awards) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average estimated grant date fair value per share of the stock options granted (in usd per share)	$ 0	$ 27.31	$ 15.25
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average estimated grant date fair value per share of the restricted stock granted (in usd per share)	63.14	67.51	40.77
Performance Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average estimated grant date fair value per share of the restricted stock granted (in usd per share)	$ 91.05	$ 89.36	$ 38.42

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 483,756	$ 412,394	$ 247,343
Ending balance	456,754	483,756	412,394
Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(948)	312	(158)
Ending balance	(4,096)	(948)	312
Unrealized (losses) gains on investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(887)	54	100
Other comprehensive (loss) income before reclassifications	(2,739)	(941)	(70)
Amounts reclassified from accumulated other comprehensive (loss) income to interest income	(72)	0	24
Ending balance	(3,698)	(887)	54
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(61)	258	(258)
Other comprehensive (loss) income before reclassifications	(774)	(768)	555
Amounts reclassified from accumulated other comprehensive (loss) income to interest income	437	449	(39)
Ending balance	$ (398)	$ (61)	$ 258