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  "documentTitle": "AtriCure, Inc. (ATRC)",
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      "text": "AtriCure's valuation implies that the company's outlook is brighter than at any point in the last decade. But with the company's core surgical ablation market almost completely saturated, and the relentless improvements in catheter ablation technology accelerating, AtriCure is facing both rapidly decelerating revenue growth and the threat of technological obsolescence, simultaneously.",
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      "text": "Disclaimer: As of the publication date of this report, Kerrisdale Capital Management, LLC and its affiliates (collectively, “Kerrisdale”), have short positions in the stock of AtriCure, Inc.",
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      "text": "Meanwhile, new technologies, particularly pulsed field ablation (PFA) and real-time electrical mapping, are set to dramatically advance catheter ablation.",
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      "text": "At the root of AtriCure's impending difficulties is the company's reliance on surgical cardiac ablation procedures, which underlie roughly 80% of the company's revenue.",
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      "text": "But Convergent will fail because it doesn't consider the role of electrophysiologists at the center of AF treatment.",
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      "text": "We are short shares of AtriCure, a $1.9bn medical device company that manufactures and sells ablation equipment used in the surgical treatment of atrial fibrillation (AF).",
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      "text": "With the plateauing of surgical ablation growth in clear sight, AtriCure has been making a strong push for its “minimally invasive” Convergent procedure.",
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