AtriCure makes surgical devices used to treat atrial fibrillation (Afib), manage the left atrial appendage (LAA), and control post-operative pain. AtriCure sells exclusively to hospitals through a direct sales force, plus distributors in Asia, parts of Europe, and South America. The company sells single-use disposable devices and places capital equipment with hospitals at no charge, so revenue is driven almost entirely by disposable unit volume and pricing from new premium products. AtriCure operates across four product franchises. The AtriClip mechanically clamps the LAA shut during open cardiac surgery to reduce stroke risk, and is AtriCure's largest franchise. The open ablation franchise centers on the EnCompass Clamp, which destroys abnormal electrical tissue causing Afib, typically during open-heart surgery performed for another reason. The pain management franchise uses cryogenic probes to freeze peripheral nerves during surgery, blocking pain signals for up to 90 days without opioids — AtriCure's fastest-growing franchise. A minimally invasive ablation franchise offers the only FDA-approved standalone surgical Afib treatment, though this franchise faces pressure from pulsed field ablation catheters that electrophysiologists are increasingly prioritizing. AtriCure's growth strategy rests on expanding the eligible patient population through large randomized clinical trials. The LeAAPS trial could expand AtriClip's addressable market from roughly 500,000 pre-operative Afib patients to approximately 2 million cardiac surgery patients globally. The BoxX-NoAF trial could expand the open ablation market by targeting prophylactic ablation in cardiac surgery patients without pre-existing Afib.