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Netflix Profits Soar Thanks to Crackdown on Password Sharing – Will Subscriber Numbers Reveal a Decline Next Year?

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Carl Nightbridge

Los Angeles, California – Netflix, the streaming giant headquartered in Los Gatos, California, reported a significant surge in profits during ...

Business and Technology

Netflix’s Operating Income Surges 54% Amid Crackdown on Password Sharing – What Will Investors Think?

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Carl Nightbridge

Los Gatos, California – Netflix’s first-quarter performance showcased a remarkable 54 percent increase in operating income, driven by the addition ...

Finance, Investing, Stocks

**Netflix** Unlock the Latest Netflix Investment Thesis Update! Why Analysts are Bullish on NFLX Stock Amid Cracking Down on Password Sharing and Scaling Advertising Revenue?

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Carl Nightbridge

Los Angeles, California – The streaming giant Netflix is poised for further growth as it implements strategic initiatives to expand ...

Finance, Investing, Stocks

Disney+ CEO Bob Iger Announces Password Sharing Crackdown Starting June – Massive Impact Expected on Streaming Industry!

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Carl Nightbridge

Orlando, Florida – Disney’s CEO, Bob Iger, revealed plans for a crackdown on password sharing for its streaming services during ...

Crime Report

Student Sentenced to Death for Sharing ‘Blasphemous’ WhatsApp Messages in Pakistan: Defense Lawyers Claim ‘False Case’

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Carl Nightbridge

Lahore, Pakistan – In a recent ruling by a court in Punjab Province, a 22-year-old student has been sentenced to ...

Business and Technology

Profit Sharing: Stellantis NV Workers to Receive Checks of $13,860 – Details Inside!

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Carl Nightbridge

Detroit, Michigan – Stellantis NV employees, represented by the United Auto Workers, may receive profit-sharing checks of up to $13,860, ...

Finance, Investing, Stocks

Marissa Bych – Gilmartin Group, Investor Relations Great. Thank you, and good afternoon. By now, you should have received a copy of the earnings press release. If you have not received a copy, please call 513-644-4484 to have one e-mail to you. Before we begin, let me remind you that the company’s remarks include forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond AtriCure’s control, including risks and uncertainties described from time to time in AtriCure’s SEC filings. These statements include, but are not limited to, financial expectations and guidance, expectations regarding the potential market opportunity for AtriCure’s franchises and growth initiatives, future product approvals, clearances, reimbursement and clinical trial outcomes. AtriCure’s results may differ materially from those projected. AtriCure undertakes no obligation to publicly update any forward-looking statements. Additionally, we refer to non-GAAP financial measures, specifically revenue reported on a constant currency basis, adjusted EBITDA and adjusted loss per share. A reconciliation of these non-GAAP financial measures with the most directly comparable GAAP measures is included in our press release, which is available on our website. And with that, I would like to turn the call over to Mike Carrel, President and CEO. Good afternoon, and thank you for joining us today. 2023 was an exceptional year at AtriCure, and I am proud to report a strong finish with fourth quarter growth of 21%, showing robust momentum throughout our entire business. Our full year revenue of $399 million represents 21% over 2022, our third consecutive year of above 20% revenue growth, and globally, we saw increasing adoption of our broad portfolio of products for the treatment of atrial fibrillation, the left atrial appendage, and postoperative pain. Our patient impact extended further than before, resulting in the achievement of our one millionth patient treated with AtriCare technology. In addition, our top line performance and increasing leverage drove $19 million of positive adjusted EBITDA in 2023, making significant progress towards sustained profitability throughout our business. Before sharing operational highlights of the fourth quarter of 2023, I would like to frame the opportunity in front of AtriCare now. We identify markets where patients are underserved and create standards-of-care to improve these patients’ lives. We know that creating new standards-of-care requires sustained investment in innovation, clinical science, and comprehensive education and awareness. Investing across these areas has allowed us to unlock new opportunities over the last two decades, and we are now positioned to offer solutions for millions of patients worldwide. This translates to a more than $5 billion global market opportunity today, with significant potential to expand our market opportunity in the future. AtriCare is in a unique position as a leader in each of our markets, with every market still significantly underpenetrated. Therefore, we remain focused on driving adoption, as well as identifying and cultivating new opportunities to drive strong growth for many years to come. As such, we are reiterating our expectations for full year 2024 revenue of $459 million to $466 million, reflecting 15% to 17% growth over 2023. We are also reaffirming our expectations to achieve adjusted EBITDA of $26 million to $29 million for the full year, with improvements annually thereafter as we progress towards positive cash flow. Now shifting to highlights of the quarter and 2023. Starting with the open ablation franchise, where our ablation solutions for the treatment of Afib are used concomitant to open heart surgery. In the fourth quarter, we surpassed 10,000 patients treated with our EnCompass clamp and achieved the best quarter yet for EnCompass clamp sales, which accounted for nearly half of our U.S. open ablation revenue for the quarter. The uptake of this product has been extraordinary since the BoD commercial launch in early 2022. At the recent Society of Thoracic Surgeons Conference, I heard from many surgeons about the impact this device is having on patients, expanding our reach throughout cardiac surgery procedures. Globally, our open ablation franchise achieved 21% annual growth in 2023, showing a continued elevation over historical growth rates in this franchise. As we begin 2024, we are confident in the increasing adoption of the EnCompass clamp in the United States and look forward to the European launch later in the year and other markets in the future. Next, turning to appendage management. AtriClip products for left atrial appendage closure in both open heart and minimally invasive procedures remaina foundation of our business. In many markets around the world, AtriClip devices are leading our growth as left atrial appendage management becomes the standard-of-care in cardiac surgery. We are excited to have seen the STS, AHA, and ACC all elevate surgical LA

BY
Carl Nightbridge

AtriCure, Inc., based in Mason, Ohio, reported impressive financial results for the fourth quarter and full year of 2023, showcasing ...

Business and Technology

“Netflix Surges: Crackdown on Password Sharing Drives Record Sign-Ups and Revenue” – Indie News

BY
Carl Nightbridge

Los Gatos, California – One of the biggest streaming platforms, Netflix, has witnessed a significant surge in new subscriber sign-ups. ...

Business and Technology

Costco Cracks Down on Membership Card Sharing with New ID Requirements at Self-Checkout – CNN Report

BY
Carl Nightbridge

Costco warehouses in Jacksonville, Florida are implementing new measures to prevent non-members from accessing discounted goods. To combat the increasingly ...

Business and Technology

Costco Cracks Down on Membership Card Sharing – New Scanners in Use!

BY
Carl Nightbridge

New York – Costco is implementing new measures to crack down on non-members using membership cards that don’t belong to ...

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