AtriCure Inc
Buy, Hold or Sell?

Let's analyse Atricure together

Penke I guess you are interested in AtriCure Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of AtriCure Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Atricure (30 sec.)

What can you expect buying and holding a share of Atricure? (30 sec.)

How much money do you get?

$0.15

When do you have the money?

1 year

How often do you get paid?

27.5%

What is your share worth?

Current worth

$9.80

Expected worth in 1 year

$9.99

How sure are you?

47.5%

+ What do you gain per year?

Total Gains per Share

$0.35

Return On Investment

1.5%

For what price can you sell your share?

Current Price per Share

$22.61

Expected price per share

$0 - $43.00

How sure are you?

50%

1. Valuation of Atricure (5 min.)

Live pricePrice per Share (EOD)

$22.61

Book Value per Share

$9.80

Intrinsic Value Per Share

$-6.90 - $-2.94

Total Value Per Share

$2.90 - $6.86

My calculation of the intrinsic value of Atricure is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($-0.14) 3Y: ($-0.18) TTM: ($-0.20)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($0.00) TTM: ($0.03)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-0.70	$-0.52	$-0.75 - $-0.51
2	$-1.41	$-0.98	$-0.79 - $-0.47
3	$-2.12	$-1.39	$-0.84 - $-0.42
4	$-2.82	$-1.74	$-0.89 - $-0.38
5	$-3.52	$-2.05	$-0.93 - $-0.34
6	$-4.21	$-2.31	$-0.98 - $-0.29
7	$-4.90	$-2.53	$-1.03 - $-0.25
8	$-5.57	$-2.70	$-1.07 - $-0.20
9	$-6.24	$-2.84	$-1.12 - $-0.16
10	$-6.90	$-2.94	$-1.17 - $-0.11

2. Growth of Atricure (5 min.)

Is Atricure growing?

	Current year	Previous year	Grow	Grow %
How rich?	$466.1m	$456.6m	$4.9m	1.1%

How much money is Atricure making?

	Current year	Previous year	Grow	Grow %
Making money	-$7.6m	-$11.6m	$4m	52.7%
Net Profit Margin	-7.6%	-14.3%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Atricure (5 min.)

4. Comparing to competitors in the Medical Instruments & Supplies industry (5 min.)

Industry Rankings (Medical Instruments & Supplies)

Richest
#58 / 169

Most Revenue
#81 / 169

Most Profit
#140 / 169

Most Efficient
#119 / 169

What can you expect buying and holding a share of Atricure? (5 min.)

Welcome investor! Atricure's management wants to use your money to grow the business. In return you get a share of Atricure.

What can you expect buying and holding a share of Atricure?

First you should know what it really means to hold a share of Atricure. And how you can make/lose money.

Speculation

The Price per Share of Atricure is $22.61. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Atricure.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Atricure, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $9.80. Based on the TTM, the Book Value Change Per Share is $0.05 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.14 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.04 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Atricure.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	-0.21	-0.9%	-0.16	-0.7%	-0.24	-1.1%	-0.12	-0.5%	-0.12	-0.5%
Usd Book Value Change Per Share	0.07	0.3%	0.05	0.2%	-0.14	-0.6%	0.23	1.0%	0.21	0.9%
Usd Dividend Per Share	0.05	0.2%	0.04	0.2%	0.01	0.1%	0.01	0.1%	0.01	0.0%
Usd Total Gains Per Share	0.12	0.5%	0.09	0.4%	-0.13	-0.6%	0.24	1.1%	0.22	1.0%
Usd Price Per Share	35.69	-	42.58	-	47.50	-	46.62	-	33.93	-
Price to Earnings Ratio	-43.38	-	-72.95	-	-62.18	-	-55.81	-	-81.02	-
Price-to-Total Gains Ratio	298.28	-	196.91	-	-133.63	-	20.76	-	291.14	-
Price to Book Ratio	3.64	-	4.39	-	4.94	-	5.70	-	6.09	-
Price-to-Total Gains Ratio	298.28	-	196.91	-	-133.63	-	20.76	-	291.14	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	22.61
Number of shares	44

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.04	0.01
Usd Book Value Change Per Share	0.05	0.23
Usd Total Gains Per Share	0.09	0.24
Gains per Quarter (44 shares)	3.85	10.65
Gains per Year (44 shares)	15.39	42.60

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	7	9	5	3	40	33
2	13	17	20	5	80	76
3	20	26	35	8	120	119
4	27	35	50	10	160	162
5	33	44	65	13	200	205
6	40	52	80	15	241	248
7	47	61	95	18	281	291
8	53	70	110	20	321	334
9	60	78	125	23	361	377
10	67	87	140	25	401	420

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	0.0	4.0	0.0	0.0%	1.0	11.0	0.0	8.3%	1.0	19.0	0.0	5.0%	1.0	39.0	0.0	2.5%	2.0	76.0	1.0	2.5%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	5.0	7.0	0.0	41.7%	9.0	11.0	0.0	45.0%	18.0	22.0	0.0	45.0%	26.0	51.0	2.0	32.9%
Dividend per Share	4.0	0.0	0.0	100.0%	6.0	0.0	6.0	50.0%	8.0	0.0	12.0	40.0%	11.0	0.0	29.0	27.5%	13.0	0.0	66.0	16.5%
Total Gains per Share	3.0	1.0	0.0	75.0%	5.0	7.0	0.0	41.7%	9.0	11.0	0.0	45.0%	19.0	21.0	0.0	47.5%	28.0	49.0	2.0	35.4%

Fundamentals of Atricure

About AtriCure Inc

https://www.atricure.com
Medical Instruments & Supplies
1200
7555 Innovation Way, Mason, OH, United States, 45040
Google Maps Bing Maps

AtriCure, Inc. develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation. It also provides cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; EPi-Sense Systems, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation; cryoSPHERE probe, which provides temporary pain relief by applying cryothermic energy to targeted intercoastal peripheral nerves in the ribcage; AtriClip System, an implantable device coupled to a single-use disposable applier; and LARIAT System, a suture-based solution for soft-tissue closure. In addition, the company sells Lumitip dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; Subtle Cannula's to support access for EPi-Sense catheters; and various reusable cardiac surgery instruments. It markets and sells its products through independent distributors and direct sales personnel. The company was incorporated in 2000 and is headquartered in Mason, Ohio.

Fundamental data was last updated by Penke on 2024-04-11 01:23:05.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a loss.
Using its assets, the company is very inefficient in making profit.
Using its investors money, the company is very inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating very inefficient.
The company is inefficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is very able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is fair priced.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of AtriCure Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Atricure earns for each $1 of revenue.

Above 10% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
A Net Profit Margin of -9.2% means that $-0.09 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of AtriCure Inc:

The MRQ is -9.2%. The company is making a loss. -1
The TTM is -7.6%. The company is making a loss. -1

Trends

Current period		Compared to		+/-
MRQ	-9.2%	TTM	-7.6%	-1.6%
TTM	-7.6%	YOY	-14.3%	+6.7%
TTM	-7.6%	5Y	-8.6%	+1.0%
5Y	-8.6%	10Y	-12.7%	+4.1%

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	-9.2%	6.2%	-15.4%
TTM	-7.6%	6.2%	-13.8%
YOY	-14.3%	8.0%	-22.3%
5Y	-8.6%	7.3%	-15.9%
10Y	-12.7%	6.8%	-19.5%

Measures how much net profit Atricure earns for each $1 of revenue.

Revenue is the amount of profit Atricure generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Atricure earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
Can be used to compare companies within the Medical Instruments & Supplies industry.

You typically want a high profit margin. This means that for each $1 in sales, Atricure makes more profit. This shows the investor how efficiently Atricure is operating in general and compared to other companies in the same industry. Atricure operates in the Medical Instruments & Supplies industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Atricure. If profit margins remain low (compared to the Medical Instruments & Supplies industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Atricure is -0.09. This means that Atricure earned $-0.09 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Medical Instruments & Supplies industry is 6.2%.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Atricure with other companies in the same industry (Medical Instruments & Supplies).
Net profit margin should rise over the years.
Can be influenced when Atricure sells assets (profit will increase while costs remain the same).
It won’t show what part of Atricure is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Atricure

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Atricure = -9,789
Total revenue MRQ Atricure = 106,543
$-9,789 / $106,543 = -0.09 or -9.2%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Atricure is using its assets to generate profit.

Above 5% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
-1.6% Return on Assets means that Atricure generated $-0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of AtriCure Inc:

The MRQ is -1.6%. Using its assets, the company is very inefficient in making profit. -2
The TTM is -1.3%. Using its assets, the company is very inefficient in making profit. -2

Trends

Current period		Compared to		+/-
MRQ	-1.6%	TTM	-1.3%	-0.3%
TTM	-1.3%	YOY	-2.0%	+0.7%
TTM	-1.3%	5Y	-1.0%	-0.3%
5Y	-1.0%	10Y	-1.8%	+0.9%

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	-1.6%	1.3%	-2.9%
TTM	-1.3%	1.4%	-2.7%
YOY	-2.0%	1.9%	-3.9%
5Y	-1.0%	2.2%	-3.2%
10Y	-1.8%	2.0%	-3.8%

Shows how efficient Atricure is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Atricure is using its resources to generate profit. If the return on assets (-1.6%) from Atricure are higher than the Medical Instruments & Supplies mean (1.3%) that means Atricure is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Atricure is -1.6%. This means the company generated $-0.02 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Medical Instruments & Supplies industry is 1.3%.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Atricure

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Atricure = -9,789
Total assets MRQ (balance sheet) from Atricure = 613,932
-9,789 / 613,932 = -0.02 or -1.6%

ROA is an important ratio as it will tell you how effectively Atricure is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Atricure is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
-2.1% Return on Equity means Atricure generated $-0.02 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of AtriCure Inc:

The MRQ is -2.1%. Using its investors money, the company is very inefficient in making profit. -2
The TTM is -1.6%. Using its investors money, the company is very inefficient in making profit. -2

Trends

Current period		Compared to		+/-
MRQ	-2.1%	TTM	-1.6%	-0.5%
TTM	-1.6%	YOY	-2.5%	+0.9%
TTM	-1.6%	5Y	-1.9%	+0.2%
5Y	-1.9%	10Y	-2.9%	+1.0%

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	-2.1%	2.6%	-4.7%
TTM	-1.6%	2.8%	-4.4%
YOY	-2.5%	3.7%	-6.2%
5Y	-1.9%	3.9%	-5.8%
10Y	-2.9%	3.9%	-6.8%

Shows how efficient Atricure is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Medical Instruments & Supplies industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Atricure is -2.1%. This means Atricure generated $-0.02 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Medical Instruments & Supplies industry is 2.6%.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if Atricure existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Atricure

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Atricure = -9,789
Shareholders equity (balance sheet) MRQ Atricure = 466,168
-9,789 / 466,168 = -0.02 or -2.1%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of AtriCure Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Atricure is operating .

Measures how much profit Atricure makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
An Operating Margin of -8.1% means the company generated $-0.08 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of AtriCure Inc:

The MRQ is -8.1%. The company is operating very inefficient. -2
The TTM is -9.4%. The company is operating very inefficient. -2

Trends

Current period		Compared to		+/-
MRQ	-8.1%	TTM	-9.4%	+1.2%
TTM	-9.4%	YOY	-15.8%	+6.4%
TTM	-9.4%	5Y	-24.8%	+15.4%
5Y	-24.8%	10Y	-20.7%	-4.1%

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	-8.1%	7.9%	-16.0%
TTM	-9.4%	7.6%	-17.0%
YOY	-15.8%	10.9%	-26.7%
5Y	-24.8%	10.1%	-34.9%
10Y	-20.7%	10.5%	-31.2%

Measures how efficient Atricure is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Atricure is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Atricure is -8.1%. This means that Atricure earned $-0.08 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Medical Instruments & Supplies industry is 7.9%.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Atricure

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Atricure = -8,668
Total revenue MRQ Atricure = 106,543
$-8,668 / $106,543 = -0.08 or -8.1%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Atricure is keeping operating costs low.

Below 1 is considered healthy (always compare to Medical Instruments & Supplies industry mean).
An Operation Ratio of 1.08 means that the operating costs are $1.08 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of AtriCure Inc:

The MRQ is 1.081. The company is inefficient in keeping operating costs low. -1
The TTM is 1.067. The company is inefficient in keeping operating costs low. -1

Trends

Current period		Compared to		+/-
MRQ	1.081	TTM	1.067	+0.015
TTM	1.067	YOY	1.132	-0.065
TTM	1.067	5Y	1.149	-0.082
5Y	1.149	10Y	1.154	-0.005

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	1.081	1.153	-0.072
TTM	1.067	1.168	-0.101
YOY	1.132	1.105	+0.027
5Y	1.149	1.097	+0.052
10Y	1.154	1.056	+0.098

Measures how efficient Atricure is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Atricure is 108.1%. This means that Atricure earned $1.08 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Medical Instruments & Supplies industry is 1.15.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Atricure

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(27,466 +87,745) \ 106,543 = 1.08

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of AtriCure Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Atricure is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Medical Instruments & Supplies industry mean).
A Current Ratio of 3.57 means the company has $3.57 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of AtriCure Inc:

The MRQ is 3.570. The company is very able to pay all its short-term debts. +2
The TTM is 3.445. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	3.570	TTM	3.445	+0.126
TTM	3.445	YOY	3.811	-0.366
TTM	3.445	5Y	4.129	-0.684
5Y	4.129	10Y	3.737	+0.393

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	3.570	2.302	+1.268
TTM	3.445	2.333	+1.112
YOY	3.811	2.588	+1.223
5Y	4.129	2.627	+1.502
10Y	3.737	2.623	+1.114

Measures if Atricure is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Medical Instruments & Supplies industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Atricure if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Atricure is 3.57. This means Atricure has $3.57 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Medical Instruments & Supplies industry is 2.30.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Atricure

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
266,246 \ 74,569) = 3.57

The current ratio measures if Atricure is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Atricure is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Atricure does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Atricure is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Atricure is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
A Quick Ratio of 3.26 means the company can pay off $3.26 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of AtriCure Inc:

The MRQ is 3.256. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 3.316. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	3.256	TTM	3.316	-0.060
TTM	3.316	YOY	4.240	-0.925
TTM	3.316	5Y	5.035	-1.719
5Y	5.035	10Y	4.211	+0.824

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	3.256	1.098	+2.158
TTM	3.316	1.127	+2.189
YOY	4.240	1.306	+2.934
5Y	5.035	1.430	+3.605
10Y	4.211	1.533	+2.678

Measures if Atricure is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Atricure can pay off its short term debts. This shows if Atricure can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Atricure is 3.26. This means that Atricure can pay off $3.26 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Medical Instruments & Supplies industry is 1.10.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Atricure

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Atricure: (137,285 + 52,975 +52,501) / 74,569 = 3.26

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of AtriCure Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Atricure assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Atricure to Medical Instruments & Supplies industry mean.
A Debt to Asset Ratio of 0.24 means that Atricure assets are financed with 24.1% credit (debt) and the remaining percentage (100% - 24.1%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of AtriCure Inc:

The MRQ is 0.241. The company is very able to pay all its debts by selling its assets. +2
The TTM is 0.228. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.241	TTM	0.228	+0.013
TTM	0.228	YOY	0.219	+0.009
TTM	0.228	5Y	0.330	-0.102
5Y	0.330	10Y	0.317	+0.012

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	0.241	0.357	-0.116
TTM	0.228	0.360	-0.132
YOY	0.219	0.353	-0.134
5Y	0.330	0.365	-0.035
10Y	0.317	0.371	-0.054

Measures how much % of Atricure assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Atricure than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Atricure to Medical Instruments & Supplies industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Atricure is 0.24. This means means that Atricure is financed with 24.1% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Medical Instruments & Supplies industry is 230.2%.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Atricure has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Atricure

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
147,764 \ 613,932 = 24.1% or 0.24.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Atricure is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Atricure to the Medical Instruments & Supplies industry mean.
A Debt to Equity ratio of 31.7% means that company has $0.32 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of AtriCure Inc:

The MRQ is 0.317. The company is very able to pay all its debts with equity. +2
The TTM is 0.295. The company is very able to pay all its debts with equity. +2

Trends

Current period		Compared to		+/-
MRQ	0.317	TTM	0.295	+0.022
TTM	0.295	YOY	0.281	+0.014
TTM	0.295	5Y	0.557	-0.262
5Y	0.557	10Y	0.514	+0.043

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
MRQ	0.317	0.541	-0.224
TTM	0.295	0.561	-0.266
YOY	0.281	0.551	-0.270
5Y	0.557	0.653	-0.096
10Y	0.514	0.669	-0.155

Measures if Atricure is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Atricure is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Atricure is 0.32. This means that Atricure can pay off $0.32 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Medical Instruments & Supplies industry is 0.54.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Atricure

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
147,764 \ 466,168 = 0.32 or 31.7%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of AtriCure Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Atricure generates.

Above 15 is considered overpriced but always compare Atricure to the Medical Instruments & Supplies industry mean.
A PE ratio of -43.38 means the investor is paying $-43.38 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of AtriCure Inc:

The EOD is -27.479. Based on the earnings, the company is expensive. -2
The MRQ is -43.376. Based on the earnings, the company is expensive. -2
The TTM is -72.952. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	-27.479	MRQ	-43.376	+15.897
MRQ	-43.376	TTM	-72.952	+29.577
TTM	-72.952	YOY	-62.183	-10.769
TTM	-72.952	5Y	-55.805	-17.147
5Y	-55.805	10Y	-81.015	+25.210

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
EOD	-27.479	14.408	-41.887
MRQ	-43.376	15.934	-59.310
TTM	-72.952	16.376	-89.328
YOY	-62.183	22.147	-84.330
5Y	-55.805	20.830	-76.635
10Y	-81.015	25.069	-106.084

Measures how much money you pay for each share for every $1 in earnings Atricure generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Atricure to the Medical Instruments & Supplies industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Atricure is -43.38. This means the investor is paying $-43.38 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Medical Instruments & Supplies industry is 15.93.
What is the trend?
The trend is important because it shows you how Atricure is performing over time. The most recent quarter might be important if Atricure released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Atricure up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Atricure

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 46,447 = EPS
PE ratio MRQ = -43.38

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of AtriCure Inc:

The EOD is 216.231. Based on how much money comes from the company's main activities, the company is expensive. -2
The MRQ is 341.321. Based on how much money comes from the company's main activities, the company is expensive. -2
The TTM is -0.084. Based on how much money comes from the company's main activities, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	216.231	MRQ	341.321	-125.091
MRQ	341.321	TTM	-0.084	+341.406
TTM	-0.084	YOY	2,644.864	-2,644.948
TTM	-0.084	5Y	508.167	-508.251
5Y	508.167	10Y	149.058	+359.109

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
EOD	216.231	9.511	+206.720
MRQ	341.321	9.241	+332.080
TTM	-0.084	0.922	-1.006
YOY	2,644.864	3.453	+2,641.411
5Y	508.167	5.897	+502.270
10Y	149.058	-0.177	+149.235

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Atricure is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Medical Instruments & Supplies industry mean).
A PB ratio of 3.64 means the investor is paying $3.64 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of AtriCure Inc:

The EOD is 2.308. Based on the equity, the company is underpriced. +1
The MRQ is 3.643. Based on the equity, the company is fair priced.
The TTM is 4.391. Based on the equity, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	2.308	MRQ	3.643	-1.335
MRQ	3.643	TTM	4.391	-0.747
TTM	4.391	YOY	4.941	-0.551
TTM	4.391	5Y	5.695	-1.305
5Y	5.695	10Y	6.090	-0.395

Compared to industry (Medical Instruments & Supplies)

Period	Company	Industry (mean)	+/-
EOD	2.308	2.448	-0.140
MRQ	3.643	2.753	+0.890
TTM	4.391	2.691	+1.700
YOY	4.941	3.294	+1.647
5Y	5.695	3.563	+2.132
10Y	6.090	4.227	+1.863

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of AtriCure Inc.

3.1. Institutions holding AtriCure Inc

Institutions are holding 102.251% of the shares of AtriCure Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Vanguard Group Inc	10.0152	0.0037	4766029	76146	1.6236
2023-12-31	BlackRock Inc	8.8129	0.0038	4193887	235245	5.9426
2023-12-31	AllianceBernstein L.P.	7.1321	0.0466	3394036	166827	5.1694
2023-12-31	Champlain Investment Partners, LLC	4.4242	0.4455	2105395	253855	13.7105
2023-12-31	Macquarie Group Ltd	3.0464	0.0598	1449726	-8775	-0.6016
2023-12-31	First Light Asset Management, LLC	2.8357	3.8747	1349443	-139964	-9.3973
2023-12-31	Wellington Management Company LLP	2.7937	0.0089	1329457	95824	7.7676
2023-12-31	State Street Corporation	2.5309	0.0021	1204415	56896	4.9582
2023-12-31	Amvescap Plc.	2.4419	0.0099	1162050	127579	12.3328
2023-12-31	Fred Alger Management, LLC	2.4251	0.2222	1154058	-281756	-19.6234
2023-12-31	Geode Capital Management, LLC	2.1697	0.0039	1032524	46117	4.6753
2023-12-31	Nuveen Asset Management, LLC	2.149	0.0117	1022678	3608	0.354
2023-12-31	Dimensional Fund Advisors, Inc.	2.1038	0.0104	1001161	9176	0.925
2023-12-31	Credit Suisse First Boston (CSFB)	2.0812	0.0341	990381	-39942	-3.8766
2023-12-31	TimesSquare Capital Management, LLC	2.0512	0.5123	976110	71275	7.8771
2023-12-31	Fiera Capital Corporation	1.853	0.0966	881826	193769	28.1618
2023-12-31	Hood River Capital Management LLC	1.7675	0.8255	841102	-6240	-0.7364
2023-12-31	Loomis, Sayles & Company LP	1.7528	0.0456	834130	-26408	-3.0688
2023-12-31	Bellevue Group AG	1.7187	0.4465	817883	70323	9.407
2023-12-31	GW&K Investment Management, LLC	1.6918	0.2679	805109	-61418	-7.0878
Total		65.7968	6.9317	31311400	+842137	+2.7%

3.2. Funds holding AtriCure Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Champlain Small Company Fund, LLC	4.209	1.5373	2036095	440120	27.5769
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.9172	0.0032	1411181	-14839	-1.0406
2023-12-31	Macquarie US Small Cap Core Equity	2.4576	0.5677	1188868	0	0
2024-02-29	Delaware Small Cap Core I	2.4292	0.5582	1175115	330	0.0281
2024-02-29	Vanguard Small Cap Index	2.3991	0.0289	1160538	10727	0.9329
2024-03-28	iShares Russell 2000 ETF	2.3653	0.0532	1144185	552	0.0483
2024-02-29	AB Small Cap Growth A	2.3234	0.978	1123955	53458	4.9938
2024-02-29	CS (Lux) Digital Health Equity SB USD	1.8605	2.0207	900000	0	0
2023-12-31	Champlain Small Company Adv	1.7985	1.2679	870000	105000	13.7255
2024-01-31	Alger Small Cap Focus Composite	1.7748	1.8281	858558	-166938	-16.2788
2024-01-31	Alger Small Cap Focus I	1.7748	1.8281	858558	-166938	-16.2788
2023-11-30	Bellevue Healthcare Ord	1.5895	3.0975	768915	768915	0
2024-02-29	AB Discovery Growth A	1.5802	0.9255	764410	31480	4.2951
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.4427	0.0239	697922	542	0.0777
2024-02-29	Vanguard Small Cap Growth Index Inv	1.3465	0.0653	651368	10800	1.686
2023-12-31	UBS: US Equity Small Cap Growth	1.2059	0.8549	583329	0	0
2024-01-31	CREF Stock R1	1.0209	0.0143	493867	0	0
2024-01-31	Old Westbury Small & Mid Cap Strategies	1.0129	0.2262	490000	75000	18.0723
2023-12-31	Wasatch Ultra Growth	1.0077	1.4524	487489	-46438	-8.6974
2024-02-29	Loomis Sayles Small Cap Growth Instl	0.9731	0.718	470745	-12666	-2.6201
Total		37.4888	18.0493	18135098	+1089105	+6.0%

3.3. Insider Transactions

Insiders are holding 3.076% of the shares of AtriCure Inc.

Date	Owner	Type	Amount	Price
2024-04-01	Justin J Noznesky	SELL	1500	30.39
2024-03-18	Karl S Dahlquist	SELL	1885	32.16
2024-03-12	Justin J Noznesky	SELL	1500	36.72
2024-03-05	Karl S Dahlquist	SELL	8231	37.36
2023-11-01	Karl S Dahlquist	SELL	1248	34.43
2023-07-26	Karl S Dahlquist	SELL	3417	57.09
2023-06-08	Karen Prange	SELL	713	47.89
2023-06-06	Karl S Dahlquist	SELL	1422	47.03
2023-05-26	Maggie Yuen	SELL	4313	47.04

4. Summary

4.1. Key Performance Indicators

The key performance indicators of AtriCure Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	0.070	0.049	+42%	-0.142	+302%	0.228	-69%	0.207	-66%
Book Value Per Share	-	-	9.796	9.699	+1%	9.596	+2%	8.281	+18%	5.808	+69%
Current Ratio	-	-	3.570	3.445	+4%	3.811	-6%	4.129	-14%	3.737	-4%
Debt To Asset Ratio	-	-	0.241	0.228	+6%	0.219	+10%	0.330	-27%	0.317	-24%
Debt To Equity Ratio	-	-	0.317	0.295	+7%	0.281	+13%	0.557	-43%	0.514	-38%
Dividend Per Share	-	-	0.050	0.038	+30%	0.014	+254%	0.014	+248%	0.009	+483%
Eps	-	-	-0.206	-0.160	-22%	-0.244	+19%	-0.116	-44%	-0.123	-40%
Free Cash Flow Per Share	-	-	0.026	-0.197	+854%	-0.205	+884%	-0.161	+716%	-0.139	+631%
Free Cash Flow To Equity Per Share	-	-	0.076	-0.197	+361%	-0.242	+420%	0.038	+101%	0.071	+7%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	-2.937	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-6.896	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	-0.518	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-0.704	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	-1.387	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-2.116	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	-2.049	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-3.519	-	-	-	-	-	-	-	-
Market Cap	1075964680.000	-58%	1698415720.000	2026059100.000	-16%	2260548970.000	-25%	2218623942.000	-23%	1614827398.000	+5%
Net Profit Margin	-	-	-0.092	-0.076	-17%	-0.143	+56%	-0.086	-6%	-0.127	+38%
Operating Margin	-	-	-0.081	-0.094	+15%	-0.158	+94%	-0.248	+205%	-0.207	+154%
Operating Ratio	-	-	1.081	1.067	+1%	1.132	-4%	1.149	-6%	1.154	-6%
Pb Ratio	2.308	-58%	3.643	4.391	-17%	4.941	-26%	5.695	-36%	6.090	-40%
Pe Ratio	-27.479	+37%	-43.376	-72.952	+68%	-62.183	+43%	-55.805	+29%	-81.015	+87%
Price Per Share	22.610	-58%	35.690	42.575	-16%	47.503	-25%	46.622	-23%	33.934	+5%
Price To Free Cash Flow Ratio	216.231	-58%	341.321	-0.084	+100%	2644.864	-87%	508.167	-33%	149.058	+129%
Price To Total Gains Ratio	188.965	-58%	298.282	196.907	+51%	-133.625	+145%	20.765	+1336%	291.145	+2%
Quick Ratio	-	-	3.256	3.316	-2%	4.240	-23%	5.035	-35%	4.211	-23%
Return On Assets	-	-	-0.016	-0.013	-20%	-0.020	+25%	-0.010	-40%	-0.018	+15%
Return On Equity	-	-	-0.021	-0.016	-22%	-0.025	+21%	-0.019	-11%	-0.029	+39%
Total Gains Per Share	-	-	0.120	0.087	+37%	-0.128	+207%	0.242	-51%	0.215	-44%
Usd Book Value	-	-	466168000.000	461567000.000	+1%	456649250.000	+2%	394098700.000	+18%	276393875.000	+69%
Usd Book Value Change Per Share	-	-	0.070	0.049	+42%	-0.142	+302%	0.228	-69%	0.207	-66%
Usd Book Value Per Share	-	-	9.796	9.699	+1%	9.596	+2%	8.281	+18%	5.808	+69%
Usd Dividend Per Share	-	-	0.050	0.038	+30%	0.014	+254%	0.014	+248%	0.009	+483%
Usd Eps	-	-	-0.206	-0.160	-22%	-0.244	+19%	-0.116	-44%	-0.123	-40%
Usd Free Cash Flow	-	-	1244000.000	-9378500.000	+854%	-9755500.000	+884%	-7659500.000	+716%	-6608925.000	+631%
Usd Free Cash Flow Per Share	-	-	0.026	-0.197	+854%	-0.205	+884%	-0.161	+716%	-0.139	+631%
Usd Free Cash Flow To Equity Per Share	-	-	0.076	-0.197	+361%	-0.242	+420%	0.038	+101%	0.071	+7%
Usd Market Cap	1075964680.000	-58%	1698415720.000	2026059100.000	-16%	2260548970.000	-25%	2218623942.000	-23%	1614827398.000	+5%
Usd Price Per Share	22.610	-58%	35.690	42.575	-16%	47.503	-25%	46.622	-23%	33.934	+5%
Usd Profit	-	-	-9789000.000	-7609500.000	-22%	-11616500.000	+19%	-5502700.000	-44%	-5871100.000	-40%
Usd Revenue	-	-	106543000.000	99811250.000	+7%	82594750.000	+29%	72064550.000	+48%	55248875.000	+93%
Usd Total Gains Per Share	-	-	0.120	0.087	+37%	-0.128	+207%	0.242	-51%	0.215	-44%
	EOD	+3 -5	MRQ	TTM	+20 -15	YOY	+27 -8	5Y	+19 -16	10Y	+23 -12

4.2. Fundamental Score

Let's check the fundamental score of AtriCure Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	-27.479
Price to Book Ratio (EOD)	Between	0-1	2.308
Net Profit Margin (MRQ)	Greater than	0	-0.092
Operating Margin (MRQ)	Greater than	0	-0.081
Quick Ratio (MRQ)	Greater than	1	3.256
Current Ratio (MRQ)	Greater than	1	3.570
Debt to Asset Ratio (MRQ)	Less than	1	0.241
Debt to Equity Ratio (MRQ)	Less than	1	0.317
Return on Equity (MRQ)	Greater than	0.15	-0.021
Return on Assets (MRQ)	Greater than	0.05	-0.016
Total			4/10 (40.0%)

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4.3. Technical Score

Let's check the technical score of AtriCure Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	27.612
Ma 20	Greater than	Ma 50	25.132
Ma 50	Greater than	Ma 100	30.094
Ma 100	Greater than	Ma 200	32.242
Open	Greater than	Close	22.620
Total			1/5 (20.0%)

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Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	613,932
Total Liabilities	147,764
Total Stockholder Equity	466,168

	As reported
Total Liabilities	147,764
Total Stockholder Equity	+ 466,168
Total Assets	= 613,932

Assets

Total Assets	613,932
Total Current Assets	266,246
Long-term Assets	347,686

Total Current Assets

Total Current Assets (as reported)	266,246
Cash And Cash Equivalents	84,310
Short-term Investments	52,975
Net Receivables	52,501
Inventory	67,897
Other Current Assets	8,563
Total Current Assets (calculated)	266,246
+/-	0

Long-term Assets

Long-term Assets (as reported)	347,686
Property Plant Equipment	46,759
Goodwill	234,781
Intangible Assets	63,986
Long-term Assets Other	2,160
Long-term Assets (calculated)	347,686
+/-	0

Liabilities & Shareholders' Equity

Total Current Liabilities	74,569
Long-term Liabilities	73,195
Total Stockholder Equity	466,168

Total Current Liabilities

Total Current Liabilities (as reported)	74,569
Short-term Debt	2,533
Short Long Term Debt	2,533
Accounts payable	27,354
Other Current Liabilities	44,682
Total Current Liabilities (calculated)	77,102
+/-	2,533

Long-term Liabilities

Long-term Liabilities (as reported)	73,195
Long term Debt	60,593
Capital Lease Obligations	11,368
Long-term Liabilities Other	1,234
Long-term Liabilities (calculated)	73,195
+/-	0

Total Stockholder Equity

Total Stockholder Equity (as reported)	466,168
Common Stock	48
Retained Earnings	-357,057
Accumulated Other Comprehensive Income	-993
Other Stockholders Equity	824,170
Total Stockholder Equity (calculated)	466,168
+/-	0

Other

Capital Stock	48
Cash and Short Term Investments	137,285
Common Stock Shares Outstanding	46,447
Liabilities and Stockholders Equity	613,932
Net Debt	-9,816
Net Invested Capital	529,294
Net Working Capital	191,677
Property Plant and Equipment Gross	99,183
Short Long Term Debt Total	74,494

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2003-12-31

> Total Assets

14,759
0
0
12,731
12,408
12,514
54,310
50,040
46,973
44,140
41,501
39,128
39,128
49,778
45,942
46,071
43,620
40,609
45,642
43,369
27,976
34,789
36,074
34,982
32,989
34,754
35,673
33,716
36,730
36,137
34,121
33,859
36,588
36,024
33,744
32,431
58,127
57,481
57,637
111,947
158,554
155,933
157,140
158,404
153,406
159,309
165,642
273,092
261,710
281,513
279,316
276,421
266,423
268,510
268,451
267,704
269,702
270,847
271,962
356,759
338,360
343,120
560,756
557,880
527,734
704,233
707,797
714,539
699,902
701,075
612,969
615,312
584,983
587,389
581,911
585,448
583,100
594,171
600,271
613,932

613,932

600,271

594,171

583,100

585,448

581,911

587,389

584,983

615,312

612,969

701,075

699,902

714,539

707,797

704,233

527,734

557,880

560,756

343,120

338,360

356,759

271,962

270,847

269,702

267,704

268,451

268,510

266,423

276,421

279,316

281,513

261,710

273,092

165,642

159,309

153,406

158,404

157,140

155,933

158,554

111,947

57,637

57,481

58,127

32,431

33,744

36,024

36,588

33,859

34,121

36,137

36,730

33,716

35,673

34,754

32,989

34,982

36,074

34,789

27,976

43,369

45,642

40,609

43,620

46,071

45,942

49,778

39,128

41,501

44,140

46,973

50,040

54,310

12,514

12,408

12,731

14,759

> Total Current Assets

0
0
0
9,896
8,600
7,541
45,663
41,648
36,904
34,143
30,301
30,688
30,688
40,948
34,097
33,863
31,195
28,453
27,735
26,103
23,592
30,593
31,141
31,351
29,559
31,341
32,287
30,648
33,949
33,047
31,740
31,193
33,110
31,428
30,119
28,539
54,357
53,466
48,557
52,487
107,248
92,765
90,721
93,508
93,415
90,739
84,113
74,752
65,393
86,465
84,410
85,717
79,109
81,111
82,146
82,258
84,769
86,765
88,429
174,673
155,019
146,525
137,853
143,160
127,024
292,034
296,212
306,737
298,304
235,944
195,707
196,076
199,607
206,166
212,285
215,214
238,325
237,975
252,719
266,246

266,246

252,719

237,975

238,325

215,214

212,285

206,166

199,607

196,076

195,707

235,944

298,304

306,737

296,212

292,034

127,024

143,160

137,853

146,525

155,019

174,673

88,429

86,765

84,769

82,258

82,146

81,111

79,109

85,717

84,410

86,465

65,393

74,752

84,113

90,739

93,415

93,508

90,721

92,765

107,248

52,487

48,557

53,466

54,357

28,539

30,119

31,428

33,110

31,193

31,740

33,047

33,949

30,648

32,287

31,341

29,559

31,351

31,141

30,593

23,592

26,103

27,735

28,453

31,195

33,863

34,097

40,948

30,688

30,301

34,143

36,904

41,648

45,663

7,541

8,600

9,896

Cash And Cash Equivalents

10,399
0
0
5,175
2,452
1,091
38,336
27,433
23,058
19,814
15,816
14,890
14,890
27,736
17,230
13,001
13,015
10,023
12,280
11,448
8,608
13,728
10,574
8,905
3,656
6,854
3,526
4,231
7,686
4,112
3,432
9,759
11,418
8,660
8,203
7,753
30,784
31,044
25,821
14,892
68,639
41,978
35,526
28,384
23,559
29,987
28,714
23,764
20,768
19,917
16,107
24,208
19,154
21,013
19,444
21,809
21,229
13,866
17,999
32,231
20,720
25,247
33,182
28,483
21,766
88,522
33,381
41,944
85,380
67,619
39,886
43,654
28,141
54,556
48,823
58,099
77,341
67,240
80,598
84,310

84,310

80,598

67,240

77,341

58,099

48,823

54,556

28,141

43,654

39,886

67,619

85,380

41,944

33,381

88,522

21,766

28,483

33,182

25,247

20,720

32,231

17,999

13,866

21,229

21,809

19,444

21,013

19,154

24,208

16,107

19,917

20,768

23,764

28,714

29,987

23,559

28,384

35,526

41,978

68,639

14,892

25,821

31,044

30,784

7,753

8,203

8,660

11,418

9,759

3,432

4,112

7,686

4,231

3,526

6,854

3,656

8,905

10,574

13,728

8,608

11,448

12,280

10,023

13,015

13,001

17,230

27,736

14,890

15,816

19,814

23,058

27,433

38,336

1,091

2,452

5,175

10,399

Short-term Investments

0
0
0
0
0
0
0
6,369
4,920
5,175
3,689
4,598
4,598
999
3,979
7,006
1,904
1,895
0
0
0
2,007
4,712
6,817
8,189
5,126
7,930
8,340
7,974
11,799
11,787
4,424
3,871
4,795
4,845
4,247
5,245
3,898
3,864
11,319
10,716
21,223
23,908
31,265
32,174
24,492
19,712
10,814
2,556
22,510
25,236
19,801
15,311
13,965
14,942
12,642
14,809
23,202
22,220
92,171
79,910
65,594
46,557
53,318
46,771
143,976
199,688
202,274
141,825
92,246
79,860
75,436
83,256
63,898
73,821
63,014
58,519
59,785
52,416
52,975

52,975

52,416

59,785

58,519

63,014

73,821

63,898

83,256

75,436

79,860

92,246

141,825

202,274

199,688

143,976

46,771

53,318

46,557

65,594

79,910

92,171

22,220

23,202

14,809

12,642

14,942

13,965

15,311

19,801

25,236

22,510

2,556

10,814

19,712

24,492

32,174

31,265

23,908

21,223

10,716

11,319

3,864

3,898

5,245

4,247

4,845

4,795

3,871

4,424

11,787

11,799

7,974

8,340

7,930

5,126

8,189

6,817

4,712

2,007

1,895

1,904

7,006

3,979

999

4,598

3,689

5,175

4,920

6,369

Net Receivables

0
0
0
3,521
4,397
4,205
3,769
4,865
5,491
5,599
6,086
6,562
6,562
7,248
7,362
7,190
8,553
9,458
8,716
6,512
7,593
7,357
6,503
7,248
8,697
7,721
13,517
9,480
9,271
9,899
8,853
9,514
9,723
10,383
9,391
9,948
11,135
11,344
11,031
13,652
14,713
15,058
15,177
17,558
19,786
17,590
16,643
19,409
19,446
21,354
21,066
21,094
21,661
23,110
22,580
23,083
22,325
24,895
23,290
25,195
26,662
27,955
26,798
28,046
22,131
22,892
25,448
23,146
29,741
33,835
33,498
33,021
40,878
41,488
41,466
42,693
45,661
48,362
51,528
52,501

52,501

51,528

48,362

45,661

42,693

41,466

41,488

40,878

33,021

33,498

33,835

29,741

23,146

25,448

22,892

22,131

28,046

26,798

27,955

26,662

25,195

23,290

24,895

22,325

23,083

22,580

23,110

21,661

21,094

21,066

21,354

19,446

19,409

16,643

17,590

19,786

17,558

15,177

15,058

14,713

13,652

11,031

11,344

11,135

9,948

9,391

10,383

9,723

9,514

8,853

9,899

9,271

9,480

13,517

7,721

8,697

7,248

6,503

7,357

7,593

6,512

8,716

9,458

8,553

7,190

7,362

7,248

6,562

6,086

5,599

5,491

4,865

3,769

4,205

4,397

3,521

Other Current Assets

210
0
0
113
500
500
1,133
845
726
499
1,460
1,248
1,248
988
1,353
1,400
1,419
1,228
1,380
1,782
1,700
1,568
3,873
3,511
3,569
5,652
682
2,918
3,004
1,228
1,125
933
16,349
1,099
802
873
1,500
1,152
779
2,410
2,098
1,840
1,547
2,044
2,790
2,597
2,477
3,106
3,608
3,373
3,016
2,954
4,145
3,080
2,615
2,273
3,835
3,120
2,662
2,592
3,605
3,297
3,527
3,899
4,293
3,835
3,369
4,347
5,214
4,636
3,876
5,001
6,570
4,932
4,222
5,477
7,956
7,179
6,283
8,563

8,563

6,283

7,179

7,956

5,477

4,222

4,932

6,570

5,001

3,876

4,636

5,214

4,347

3,369

3,835

4,293

3,899

3,527

3,297

3,605

2,592

2,662

3,120

3,835

2,273

2,615

3,080

4,145

2,954

3,016

3,373

3,608

3,106

2,477

2,597

2,790

2,044

1,547

1,840

2,098

2,410

779

1,152

1,500

873

802

1,099

16,349

933

1,125

1,228

3,004

2,918

682

5,652

3,569

3,511

3,873

1,568

1,700

1,782

1,380

1,228

1,419

1,400

1,353

988

1,248

1,460

499

726

845

1,133

500

113

210

> Long-term Assets

0
0
0
2,835
3,808
4,973
8,647
8,393
10,069
9,997
11,200
0
8,440
8,830
11,845
12,209
12,425
12,155
17,907
17,266
4,384
4,195
4,933
3,631
3,430
3,412
3,386
3,067
2,781
3,090
2,380
2,666
3,478
4,596
3,625
3,892
3,770
4,015
9,080
59,460
51,306
63,168
66,419
64,896
59,991
68,570
81,529
198,340
196,317
195,048
194,906
190,704
187,314
187,399
186,305
185,446
184,933
184,082
183,533
182,086
183,341
196,595
422,903
414,720
400,710
412,199
411,585
407,802
401,598
465,131
417,262
419,236
385,376
381,223
369,626
370,234
344,775
356,196
347,552
347,686

347,686

347,552

356,196

344,775

370,234

369,626

381,223

385,376

419,236

417,262

465,131

401,598

407,802

411,585

412,199

400,710

414,720

422,903

196,595

183,341

182,086

183,533

184,082

184,933

185,446

186,305

187,399

187,314

190,704

194,906

195,048

196,317

198,340

81,529

68,570

59,991

64,896

66,419

63,168

51,306

59,460

9,080

4,015

3,770

3,892

3,625

4,596

3,478

2,666

2,380

3,090

2,781

3,067

3,386

3,412

3,430

3,631

4,933

4,195

4,384

17,266

17,907

12,155

12,425

12,209

11,845

8,830

8,440

11,200

9,997

10,069

8,393

8,647

4,973

3,808

2,835

Property Plant Equipment

1,876
0
0
2,410
2,561
2,673
3,551
3,360
3,273
3,272
3,534
3,643
3,643
4,170
4,386
4,466
4,764
4,455
4,239
3,683
3,564
3,380
3,086
3,009
2,883
2,943
2,970
2,723
2,554
2,282
2,111
2,351
2,544
2,653
3,205
3,430
3,455
3,685
4,135
5,643
5,769
6,462
9,842
11,552
13,874
19,352
27,455
31,279
31,155
30,902
30,742
29,995
29,930
29,959
29,267
28,749
28,549
28,126
27,964
27,080
28,828
29,719
35,101
36,678
36,063
32,809
31,452
30,204
29,255
32,858
32,366
36,170
37,376
40,294
42,525
42,620
44,212
44,893
45,443
46,759

46,759

45,443

44,893

44,212

42,620

42,525

40,294

37,376

36,170

32,366

32,858

29,255

30,204

31,452

32,809

36,063

36,678

35,101

29,719

28,828

27,080

27,964

28,126

28,549

28,749

29,267

29,959

29,930

29,995

30,742

30,902

31,155

31,279

27,455

19,352

13,874

11,552

9,842

6,462

5,769

5,643

4,135

3,685

3,455

3,430

3,205

2,653

2,544

2,351

2,111

2,282

2,554

2,723

2,970

2,943

2,883

3,009

3,086

3,380

3,564

3,683

4,239

4,455

4,764

4,466

4,386

4,170

3,643

3,534

3,272

3,273

3,360

3,551

2,673

2,561

2,410

1,876

Goodwill

0
0
0
0
0
0
3,840,837
4,828
3,841
3,841
3,841
3,841
3,841
3,841
6,222
6,763
6,763
6,763
6,812
6,812
6,812
428
358
288
217
147
106
89
73
56
48
45
42
39
36
32
29
26
23
35,386
35,386
35,386
35,386
35,386
35,386
35,386
35,386
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
105,257
236,316
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781
234,781

234,781

236,316

105,257

35,386

106

147

217

288

358

428

6,812

6,763

6,222

3,841

4,828

3,840,837

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
510
0
0
600
1,499
0
0
0
0
4,678
7,914
0
11,387
11,749
8,894
2,025
5,209
10,381
7,706
6,150
5,525
6,017
3,000
0
0
0
0
0
0
0
0
0
12,860
20,354
12,675
0
15,339
16,516
14,178
9,127
69,770
105,097
104,338
70,514
64,295
51,413
51,509
25,561
7,598
0
0

7,598

25,561

51,509

51,413

64,295

70,514

104,338

105,097

69,770

9,127

14,178

16,516

15,339

12,675

20,354

12,860

3,000

6,017

5,525

6,150

7,706

10,381

5,209

2,025

8,894

11,749

11,387

7,914

4,678

1,499

600

510

Intangible Assets

0
0
0
0
0
0
4,881
4,828
933
880
826
773
773
666
1,096
851
780
710
640
569
499
428
358
288
217
147
106
89
73
56
48
45
42
39
36
32
29
26
23
10,299
9,944
9,588
9,233
8,878
8,575
8,272
7,970
53,775
53,364
52,953
52,542
52,131
51,789
51,447
51,105
50,764
50,422
50,080
49,738
49,254
48,770
48,286
130,370
129,881
129,392
128,904
128,437
128,199
127,961
127,234
43,963
42,992
42,020
41,049
40,078
39,339
38,601
67,383
65,684
63,986

63,986

65,684

67,383

38,601

39,339

40,078

41,049

42,020

42,992

43,963

127,234

127,961

128,199

128,437

128,904

129,392

129,881

130,370

48,286

48,770

49,254

49,738

50,080

50,422

50,764

51,105

51,447

51,789

52,131

52,542

52,953

53,364

53,775

7,970

8,272

8,575

8,878

9,233

9,588

9,944

10,299

106

147

217

288

358

428

499

569

640

710

780

851

1,096

666

773

826

880

933

4,828

4,881

Long-term Assets Other

0
0
0
425
1,246
2,300
215
206
2,022
2,004
2,999
183
183
153
141
129
117
227
6,216
6,201
321
387
377
335
330
322
311
255
154
243
222
271
293
405
384
430
286
304
244
218
207
345
209
186
131
351
337
323
391
411
348
321
338
736
676
676
705
619
574
495
486
473
762
705
474
366
399
440
474
488
1,055
955
685
804
829
1,985
1,620
1,541
1,644
2,160

2,160

1,644

1,541

1,620

1,985

829

804

685

955

1,055

488

474

440

399

366

474

705

762

473

486

495

574

619

705

676

736

338

321

348

411

391

323

337

351

131

186

209

345

207

218

244

304

286

430

384

405

293

271

222

243

154

255

311

322

330

335

377

387

321

6,201

6,216

227

117

129

141

153

183

2,999

2,004

2,022

206

215

2,300

1,246

425

> Total Liabilities

891
0
0
40,062
41,724
43,993
7,315
6,857
6,707
6,803
7,049
8,434
8,434
10,036
8,218
9,835
10,221
8,143
14,441
14,250
5,794
12,673
17,783
17,893
17,165
19,014
19,961
16,980
20,696
19,216
18,028
18,244
21,936
21,088
20,183
19,931
19,527
19,341
21,392
39,343
24,291
21,713
22,105
25,866
24,847
30,618
40,158
86,407
80,683
104,513
105,882
107,979
105,565
107,009
109,532
106,538
116,579
111,160
108,194
107,378
99,068
101,572
302,535
310,537
300,368
287,371
290,265
302,145
308,659
315,992
124,500
131,556
122,158
130,679
131,603
128,694
128,255
131,749
137,438
147,764

147,764

137,438

131,749

128,255

128,694

131,603

130,679

122,158

131,556

124,500

315,992

308,659

302,145

290,265

287,371

300,368

310,537

302,535

101,572

99,068

107,378

108,194

111,160

116,579

106,538

109,532

107,009

105,565

107,979

105,882

104,513

80,683

86,407

40,158

30,618

24,847

25,866

22,105

21,713

24,291

39,343

21,392

19,341

19,527

19,931

20,183

21,088

21,936

18,244

18,028

19,216

20,696

16,980

19,961

19,014

17,165

17,893

17,783

12,673

5,794

14,250

14,441

8,143

10,221

9,835

8,218

10,036

8,434

7,049

6,803

6,707

6,857

7,315

43,993

41,724

40,062

891

> Total Current Liabilities

891
0
0
3,306
3,983
5,266
6,021
5,773
5,675
5,855
6,185
7,657
7,657
9,214
7,500
9,239
9,664
7,278
8,269
8,107
5,684
9,027
11,375
11,807
11,680
14,141
15,704
13,035
11,528
10,603
9,972
10,809
11,818
11,742
11,604
12,205
12,694
13,403
16,275
26,713
16,013
16,880
21,892
25,643
24,629
30,141
39,065
31,588
26,194
25,189
26,490
28,828
28,409
31,695
36,072
31,903
26,872
27,420
33,744
40,216
35,465
39,432
44,282
49,916
39,071
38,052
44,754
49,137
58,463
67,433
53,954
56,445
47,375
56,316
57,598
58,392
62,471
71,410
82,538
74,569

74,569

82,538

71,410

62,471

58,392

57,598

56,316

47,375

56,445

53,954

67,433

58,463

49,137

44,754

38,052

39,071

49,916

44,282

39,432

35,465

40,216

33,744

27,420

26,872

31,903

36,072

31,695

28,409

28,828

26,490

25,189

26,194

31,588

39,065

30,141

24,629

25,643

21,892

16,880

16,013

26,713

16,275

13,403

12,694

12,205

11,604

11,742

11,818

10,809

9,972

10,603

11,528

13,035

15,704

14,141

11,680

11,807

11,375

9,027

5,684

8,107

8,269

7,278

9,664

9,239

7,500

9,214

7,657

6,185

5,855

5,675

5,773

6,021

5,266

3,983

3,306

891

Short-term Debt

0
0
0
0
0
0
324
398
374
379
385
391
391
408
413
825
443
33
33
34
35
2,202
2,203
2,227
2,219
2,211
2,202
2,193
1,533
1,534
1,535
1,543
2,044
2,039
2,034
2,029
2,030
2,031
2,037
2,038
38
41
2,541
3,981
5,996
9,237
13,571
450
462
473
492
1,688
3,489
5,291
7,093
561
575
589
1,559
4,717
8,039
6,955
2,158
2,218
3,614
7,701
12,070
8,417
13,308
18,493
4,581
1,756
1,760
1,820
2,031
5,472
10,677
15,715
20,702
2,533

2,533

20,702

15,715

10,677

5,472

2,031

1,820

1,760

1,756

4,581

18,493

13,308

8,417

12,070

7,701

3,614

2,218

2,158

6,955

8,039

4,717

1,559

589

575

561

7,093

5,291

3,489

1,688

492

473

462

450

13,571

9,237

5,996

3,981

2,541

2,038

2,037

2,031

2,030

2,029

2,034

2,039

2,044

1,543

1,535

1,534

1,533

2,193

2,202

2,211

2,219

2,227

2,203

2,202

443

825

413

408

391

385

379

374

398

324

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
74
0
0
0
14,160
0
0
0
1,688
38,827
38,760
7,093
561
575
589
1,559
0
8,039
6,955
2,158
2,218
3,614
7,701
12,070
8,417
13,308
18,493
4,581
1,756
0
0
0
5,472
10,677
15,715
20,702
2,533

2,533

20,702

15,715

10,677

5,472

1,756

4,581

18,493

13,308

8,417

12,070

7,701

3,614

2,218

2,158

6,955

8,039

1,559

589

575

561

7,093

38,760

38,827

1,688

14,160

Accounts payable

279
0
0
733
1,104
1,204
2,191
1,243
1,463
1,355
1,547
1,930
1,930
5,662
3,658
4,651
5,267
3,902
4,106
5,150
3,232
4,316
3,813
3,600
4,765
3,804
4,752
4,512
4,437
5,185
4,831
5,270
5,229
4,847
4,795
5,103
5,429
5,196
5,720
8,605
7,921
7,522
7,785
7,621
9,659
9,344
11,174
12,744
12,801
11,926
10,990
10,673
11,259
11,697
10,791
12,431
11,583
9,670
10,587
9,659
10,375
12,592
13,966
14,948
17,302
12,467
13,554
12,736
15,459
16,496
17,527
18,597
20,294
23,721
24,405
19,898
23,561
23,709
24,542
27,354

27,354

24,542

23,709

23,561

19,898

24,405

23,721

20,294

18,597

17,527

16,496

15,459

12,736

13,554

12,467

17,302

14,948

13,966

12,592

10,375

9,659

10,587

9,670

11,583

12,431

10,791

11,697

11,259

10,673

10,990

11,926

12,801

12,744

11,174

9,344

9,659

7,621

7,785

7,522

7,921

8,605

5,720

5,196

5,429

5,103

4,795

4,847

5,229

5,270

4,831

5,185

4,437

4,512

4,752

3,804

4,765

3,600

3,813

4,316

3,232

5,150

4,106

3,902

5,267

4,651

3,658

5,662

1,930

1,547

1,355

1,463

1,243

2,191

1,204

1,104

733

279

Other Current Liabilities

612
0
0
2,572
2,879
4,062
1,573
4,132
3,838
4,121
4,253
5,336
5,335
3,144
3,429
3,762
3,954
3,343
4,129
2,923
2,417
2,509
5,360
5,979
4,696
8,126
8,751
6,330
5,558
3,197
3,606
3,547
227
4,856
4,775
4,707
4,763
5,650
7,819
14,617
7,094
8,434
9,964
12,769
8,160
10,825
13,595
17,482
10,717
11,931
14,051
15,178
12,553
13,931
17,318
18,277
14,095
16,638
21,047
24,954
16,181
19,078
27,041
31,092
16,984
16,748
17,965
26,728
28,367
30,828
30,359
36,092
25,321
30,775
31,162
33,022
28,233
31,986
37,294
44,682

44,682

37,294

31,986

28,233

33,022

31,162

30,775

25,321

36,092

30,359

30,828

28,367

26,728

17,965

16,748

16,984

31,092

27,041

19,078

16,181

24,954

21,047

16,638

14,095

18,277

17,318

13,931

12,553

15,178

14,051

11,931

10,717

17,482

13,595

10,825

8,160

12,769

9,964

8,434

7,094

14,617

7,819

5,650

4,763

4,707

4,775

4,856

227

3,547

3,606

3,197

5,558

6,330

8,751

8,126

4,696

5,979

5,360

2,509

2,417

2,923

4,129

3,343

3,954

3,762

3,429

3,144

5,335

5,336

4,253

4,121

3,838

4,132

1,573

4,062

2,879

2,572

612

> Long-term Liabilities

0
0
0
36,756
37,742
38,727
1,294
1,084
1,031
948
864
0
777
822
719
596
557
865
6,173
6,143
110
3,647
6,408
6,086
5,485
4,874
4,256
3,945
9,167
8,613
8,057
7,435
10,118
9,346
8,579
7,726
6,833
5,938
5,117
12,630
8,278
4,833
213
223
218
477
1,093
54,819
54,489
79,324
79,392
79,151
77,156
75,314
73,460
74,635
89,707
83,740
74,450
67,162
63,603
62,140
258,253
260,621
261,297
249,319
245,511
253,008
250,196
248,559
70,546
75,111
74,783
74,363
74,005
70,302
65,784
60,339
54,900
73,195

73,195

54,900

60,339

65,784

70,302

74,005

74,363

74,783

75,111

70,546

248,559

250,196

253,008

245,511

249,319

261,297

260,621

258,253

62,140

63,603

67,162

74,450

83,740

89,707

74,635

73,460

75,314

77,156

79,151

79,392

79,324

54,489

54,819

1,093

477

218

223

213

4,833

8,278

12,630

5,117

5,938

6,833

7,726

8,579

9,346

10,118

7,435

8,057

8,613

9,167

3,945

4,256

4,874

5,485

6,086

6,408

3,647

110

6,143

6,173

865

557

596

719

822

777

864

948

1,031

1,084

1,294

38,727

37,742

36,756

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,670
5,286
4,926
7,873
7,366
6,866
6,407
5,899
5,391
4,922
4,412
69
65
55
74
79
68
68
13,710
13,592
38,473
38,446
37,205
35,338
33,469
31,599
36,861
51,939
51,891
50,890
47,743
32,737
33,886
59,517
59,634
58,323
54,154
49,985
53,435
48,552
43,669
56,354
59,741
59,848
59,954
60,061
56,834
51,940
47,047
0
0

47,047

51,940

56,834

60,061

59,954

59,848

59,741

56,354

43,669

48,552

53,435

49,985

54,154

58,323

59,634

59,517

33,886

32,737

47,743

50,890

51,891

51,939

36,861

31,599

33,469

35,338

37,205

38,446

38,473

13,592

13,710

4,412

4,922

5,391

5,899

6,407

6,866

7,366

7,873

4,926

5,286

5,670

Other Liabilities

0
0
0
0
0
0
0
0
43
56
70
84
323
337
334
314
314
327
128
106
82
66
3,314
3,416
3,310
3,198
3,084
3,283
3,113
2,943
2,771
2,509
2,245
1,980
1,713
1,319
934
547
195
8,218
8,209
4,768
158
149
139
409
1,025
41,109
40,897
40,851
40,946
41,946
41,818
41,845
41,861
37,774
37,768
31,849
23,560
19,419
17,524
15,270
183,998
186,417
188,871
182,207
183,030
187,424
189,929
192,517
2,282
1,220
1,225
1,215
1,223
1,226
1,236
0
0
0

1,236

1,226

1,223

1,215

1,225

1,220

2,282

192,517

189,929

187,424

183,030

182,207

188,871

186,417

183,998

15,270

17,524

19,419

23,560

31,849

37,768

37,774

41,861

41,845

41,818

41,946

40,946

40,851

40,897

41,109

1,025

409

139

149

158

4,768

8,209

8,218

195

547

934

1,319

1,713

1,980

2,245

2,509

2,771

2,943

3,113

3,283

3,084

3,198

3,310

3,416

3,314

106

128

327

314

334

337

323

> Total Stockholder Equity

13,868
0
0
-27,331
-29,316
-31,479
46,996
43,183
40,266
37,336
34,453
30,694
30,694
39,742
37,723
36,237
33,399
32,465
31,201
29,119
22,182
22,115
18,291
17,090
15,824
15,739
15,713
16,736
16,035
16,921
16,092
15,615
14,652
14,936
13,561
12,500
38,600
38,140
36,245
72,604
134,263
134,220
135,035
132,538
128,559
128,691
125,484
186,685
181,027
177,000
173,434
168,442
160,858
161,501
158,919
161,166
153,123
159,687
163,768
249,381
239,292
241,548
258,221
247,343
227,366
416,862
417,532
412,394
391,243
385,083
488,469
483,756
462,825
456,710
450,308
456,754
454,845
462,422
462,833
466,168

466,168

462,833

462,422

454,845

456,754

450,308

456,710

462,825

483,756

488,469

385,083

391,243

412,394

417,532

416,862

227,366

247,343

258,221

241,548

239,292

249,381

163,768

159,687

153,123

161,166

158,919

161,501

160,858

168,442

173,434

177,000

181,027

186,685

125,484

128,691

128,559

132,538

135,035

134,220

134,263

72,604

36,245

38,140

38,600

12,500

13,561

14,936

14,652

15,615

16,092

16,921

16,035

16,736

15,713

15,739

15,824

17,090

18,291

22,115

22,182

29,119

31,201

32,465

33,399

36,237

37,723

39,742

30,694

34,453

37,336

40,266

43,183

46,996

-31,479

-29,316

-27,331

13,868

Common Stock

2
0
0
2
2
2
12
12
12
12
12
12
12
14
14
14
14
14
14
14
15
15
15
15
15
16
16
16
16
16
16
16
16
17
17
17
21
21
21
23
27
27
27
28
28
28
28
32
33
33
33
33
34
34
34
35
35
35
36
39
39
39
40
40
40
45
45
45
46
46
46
46
46
46
46
47
47
47
47
48

Retained Earnings Total Equity

-338,213

-333,095

-326,619

-322,449

-310,177

-295,336

-280,153

-266,412

-363,520

-347,269

-330,352

-311,790

-306,841

-298,605

-282,197

-266,101

-256,739

-252,638

-247,003

-243,574

-236,338

-236,000

-225,866

-223,286

-216,040

-209,157

-198,974

-190,349

-183,566

-175,360

-165,636

-154,722

-148,581

-143,690

-138,424

-133,080

-132,614

-129,922

-122,213

-117,233

-114,485

-112,694

-110,751

-108,731

-106,163

-104,837

-103,217

-101,138

-99,981

Accumulated Other Comprehensive Income

0
0
0
-982
-645
-740
-669
-599
-6
-7
38
-4,508
91
-66
12
5
96
57
-180
-57
-112
109
206
144
53
-107
134
80
95
101
-87
-38
16
-90
7
77
-67
-56
37
-139
-139
-178
-588
-348
-798
-543
-490
-611
-284
-490
-449
-468
-393
-47
-10
34
112
-98
-136
-199
-286
-154
-376
-158
-371
-96
57
312
-18
-87
-213
-948
-3,465
-4,344
-5,295
-4,096
-3,072
-2,609
-2,184
-993

-993

-2,184

-2,609

-3,072

-4,096

-5,295

-4,344

-3,465

-948

-213

-87

-18

312

-96

-371

-158

-376

-154

-286

-199

-136

-98

112

-10

-47

-393

-468

-449

-490

-284

-611

-490

-543

-798

-348

-588

-178

-139

-56

-67

-90

-38

-87

101

134

-107

144

206

109

-112

-57

-180

-66

-4,508

-7

-6

-599

-669

-740

-645

-982

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
116,786
117,300
118,853
119,456
121,172
122,268
123,157
151,340
152,660
153,420
194,933
264,297
266,985
268,676
271,282
273,019
277,787
280,668
352,900
356,638
361,023
364,199
367,851
370,374
377,554
382,181
386,963
388,976
396,088
407,442
496,544
492,177
498,402
524,658
529,658
526,302
723,754
729,220
742,389
738,484
748,644
755,048
764,811
761,580
771,185
778,006
787,422
790,965
803,197
0
0

803,197

790,965

787,422

778,006

771,185

761,580

764,811

755,048

748,644

738,484

742,389

729,220

723,754

526,302

529,658

524,658

498,402

492,177

496,544

407,442

396,088

388,976

386,963

382,181

377,554

370,374

367,851

364,199

361,023

356,638

352,900

280,668

277,787

273,019

271,282

268,676

266,985

264,297

194,933

153,420

152,660

151,340

123,157

122,268

121,172

119,456

118,853

117,300

116,786

Treasury Stock

Other Stockholders Equity

0
0
0
3,281
3,335
-4,763
85,981
86,108
85,687
85,967
86,194
0
86,646
102,938
103,439
103,525
104,202
104,900
105,643
106,637
107,719
108,874
109,650
110,900
111,734
112,574
113,336
114,402
114,958
116,786
117,300
118,853
119,456
121,172
122,268
123,157
151,340
152,660
153,420
194,933
264,297
266,985
268,676
271,282
273,019
277,787
280,668
352,900
356,638
361,023
364,199
367,851
370,374
377,554
382,181
386,963
388,976
396,088
407,442
496,544
492,177
498,402
524,658
529,658
526,302
723,754
729,220
742,389
738,484
748,644
755,048
764,811
761,580
771,185
778,006
787,422
790,965
803,197
812,238
824,170

824,170

812,238

803,197

790,965

787,422

778,006

771,185

761,580

764,811

755,048

748,644

738,484

742,389

729,220

723,754

526,302

529,658

524,658

498,402

492,177

496,544

407,442

396,088

388,976

386,963

382,181

377,554

370,374

367,851

364,199

361,023

356,638

352,900

280,668

277,787

273,019

271,282

268,676

266,985

264,297

194,933

153,420

152,660

151,340

123,157

122,268

121,172

119,456

118,853

117,300

116,786

114,958

114,402

113,336

112,574

111,734

110,900

109,650

108,874

107,719

106,637

105,643

104,900

104,202

103,525

103,439

102,938

86,646

86,194

85,967

85,687

86,108

85,981

-4,763

3,335

3,281

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Accounts Payable	27,354	19,898	18,597	12,736	14,948	9,659	12,431	10,673	12,744	7,621	8,605	5,103	5,270	4,512	3,600	5,150	4,651	1,930	1,243	733	279	-	-
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Accumulated Other Comprehensive Income	-993	-4,096	-948	312	-158	-199	34	-468	-611	-348	-139	77	-38	80	144	-57	5	91	-599	-982	0	-	-
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Capital Lease Obligations	11,368	12,242	15,906	12,149	14,570	12,172	12,761	13,319	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Capital Stock	48	47	46	45	40	39	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Capital Surpluse	0	787,422	764,811	742,389	529,658	496,544	386,963	367,851	352,900	271,282	194,933	123,157	118,853	0	0	0	0	0	0	0	0	-	-
Cash	84,310	58,099	43,654	41,944	28,483	32,231	21,809	24,208	23,764	28,384	14,892	7,753	9,759	4,231	8,905	11,448	13,001	14,890	27,433	5,175	10,399	-	-
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Cash And Short Term Investments	137,285	121,113	119,090	244,218	81,801	124,402	34,451	44,009	34,578	59,649	26,211	12,000	14,183	12,571	15,722	11,448	20,007	19,488	33,802	5,175	0	-	-
Common Stock	48	47	46	45	40	39	35	33	32	28	23	17	16	16	15	14	14	12	12	2	2	-	-
Common Stock Shares Outstanding	46,309	45,740	46,039	42,125	37,589	34,087	32,387	31,609	28,058	26,374	20,431	16,190	15,672	15,095	14,564	14,191	13,382	12,137	6,025	1,828	1,792	1,777	1,766
Common Stock Total Equity	0	47	46	45	40	39	35	33	32	28	23	17	16	16	15	14	14	12	12	2	0	-	-
Current Deferred Revenue	0	0	0	0	0	886	634	1,289	912	1,272	1,453	366	449	0	3,752	0	0	0	0	0	0	-	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Good Will	234,781	234,781	234,781	234,781	234,781	105,257	105,257	105,257	105,257	35,386	35,386	32	45	89	288	6,812	6,763	3,841	4,828	0	0	-	-
Intangible Assets	63,986	39,339	42,992	128,199	129,881	49,254	50,764	52,131	53,775	8,878	10,299	32	45	89	288	569	851	773	4,828	0	0	-	-
Inventory	67,897	45,931	38,964	35,026	29,414	22,484	22,451	17,660	17,659	14,257	10,214	5,718	6,563	5,680	4,870	6,361	5,266	3,389	2,135	1,087	639	-	-
Liabilities And Stockholders Equity	613,932	585,448	615,312	714,539	557,880	356,759	267,704	276,421	273,092	158,404	111,947	32,431	33,859	33,716	34,982	43,369	46,071	39,128	50,040	12,731	14,759	17,586	2,051
Long Term Debt	60,593	56,834	59,741	53,435	59,634	35,571	24,100	23,886	13,710	74	4,412	6,407	4,926	662	2,669	6,037	283	693	1,084	0	0	-	-
Long Term Debt Total	0	56,834	59,741	53,435	59,634	47,743	36,861	37,205	13,710	74	4,412	6,407	4,926	0	0	0	0	0	0	0	0	-	-
Long Term Investments	0	51,509	104,338	14,178	12,675	0	0	3,000	7,706	8,894	7,914	0	0	0	0	0	0	0	0	0	0	-	-
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Debt	-9,816	10,977	31,993	32,057	47,939	20,229	15,613	14,685	-9,604	-24,329	-8,442	683	-3,290	-1,376	-6,236	-5,378	-11,893	-13,806	-25,951	-5,175	0	-	-
Net Invested Capital	529,294	513,588	543,497	474,246	309,195	289,669	185,827	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Receivables	52,501	42,693	33,021	23,146	28,046	25,195	23,083	21,094	19,409	17,558	13,652	9,948	9,514	9,480	7,248	6,512	7,190	6,562	4,865	3,521	0	-	-
Net Tangible Assets	0	182,634	205,983	49,414	-117,319	94,870	5,145	11,054	27,653	88,274	26,919	12,468	15,570	0	0	0	0	0	0	0	0	-	-
Net Working Capital	191,677	156,822	139,631	257,600	93,244	134,457	50,355	56,889	43,164	67,865	25,774	16,334	20,384	17,613	19,545	17,997	24,624	23,031	35,875	6,590	0	-	-
Non Current Assets Total	347,686	370,234	419,236	407,802	414,720	182,086	185,446	190,704	198,340	64,896	59,460	3,892	2,666	3,067	3,631	17,266	12,209	8,440	8,393	2,835	0	-	-
Non Current Liabilities Other	1,234	13,468	15,370	199,573	200,987	19,419	37,774	41,946	41,109	149	8,218	1,319	2,510	0	0	0	0	0	0	0	0	-	-
Non Current Liabilities Total	73,195	70,302	75,111	253,008	260,621	67,162	74,635	79,151	54,819	223	12,630	7,726	7,435	3,945	6,086	6,143	596	777	1,084	36,756	0	-	-
Non Currrent Assets Other	2,160	1,985	955	440	705	495	676	321	323	186	218	430	271	255	335	6,201	129	183	206	425	0	-	-
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Other Assets	0	1,985	955	16,532	705	495	676	321	323	186	218	430	270	255	334	6,202	129	183	206	425	14,759	17,586	2,051
Other Current Assets	8,563	5,477	5,001	4,347	3,899	2,592	2,273	2,954	3,106	2,044	2,410	873	933	2,918	19,233	1,782	1,400	1,248	845	113	210	-	-
Other Current Liab	44,682	33,022	36,092	27,984	32,750	24,954	18,277	15,178	17,482	12,769	14,617	4,707	3,547	6,330	2,227	2,923	3,762	5,335	4,132	2,572	612	-	-
Other Liab	0	1,226	1,220	187,424	186,417	19,419	37,774	41,946	41,109	149	8,218	1,319	2,509	3,283	3,416	106	314	84	0	0	0	-	-
Other Stockholder Equity	824,170	787,422	764,811	742,389	529,658	496,544	386,963	367,851	352,900	271,282	194,933	123,157	118,853	114,402	110,900	106,637	103,525	86,646	86,108	3,281	1,198	26,067	5,205
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36,756	32,805	-	-
Property Plant And Equipment Gross	99,183	42,620	36,170	30,204	36,678	27,080	28,749	29,995	31,279	11,552	5,643	3,430	2,351	2,723	3,009	3,683	4,466	3,643	3,360	2,410	0	-	-
Property Plant And Equipment Net	46,759	42,620	36,170	30,204	36,678	27,080	28,749	29,995	31,279	11,552	5,643	3,430	2,351	2,723	3,009	3,683	4,466	3,643	3,360	2,410	0	-	-
Property Plant Equipment	0	42,620	36,170	28,290	32,646	27,080	28,749	29,995	31,279	11,552	5,643	3,430	2,351	2,724	3,009	3,683	4,466	3,643	3,359	2,410	1,876	-	-
Retained Earnings	-357,057	-326,619	-280,153	-330,352	-282,197	-247,003	-225,866	-198,974	-165,636	-138,424	-122,213	-110,751	-103,217	-97,762	-93,970	-77,475	-67,308	-56,055	-42,337	-29,633	-20,135	-9,047	-3,474
Retained Earnings Total Equity	0	-326,619	-280,153	-330,352	-282,197	-247,003	-225,866	-198,974	-165,636	-138,424	-122,213	-110,751	-103,217	0	0	0	0	0	0	0	0	-	-
Short Long Term Debt	2,533	5,472	1,756	8,417	2,218	4,717	561	1,688	14,160	74	0	0	0	0	0	0	0	0	0	0	0	-	-
Short Long Term Debt Total	74,494	69,076	75,647	74,001	76,422	52,460	37,422	38,893	14,160	4,055	6,450	8,436	6,469	2,855	2,670	6,071	1,108	1,084	1,482	0	0	-	-
Short Term Debt	2,533	5,472	1,756	8,417	2,218	4,717	561	1,688	450	3,981	2,038	2,029	1,543	2,193	2,227	34	825	391	398	0	0	-	-
Short Term Investments	52,975	63,014	75,436	202,274	53,318	92,171	12,642	19,801	10,814	31,265	11,319	4,247	4,424	8,340	6,817	0	7,006	4,598	6,369	0	0	-	-
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Total Assets	613,932	585,448	615,312	714,539	557,880	356,759	267,704	276,421	273,092	158,404	111,947	32,431	33,859	33,716	34,982	43,369	46,071	39,128	50,040	12,731	14,759	17,586	2,051
Total Current Assets	266,246	215,214	196,076	306,737	143,160	174,673	82,258	85,717	74,752	93,508	52,487	28,539	31,193	30,648	31,351	26,103	33,863	30,688	41,648	9,896	0	-	-
Total Current Liabilities	74,569	58,392	56,445	49,137	49,916	40,216	31,903	28,828	31,588	25,643	26,713	12,205	10,809	13,035	11,807	8,107	9,239	7,657	5,773	3,306	891	-	-
Total Liab	147,764	128,694	131,556	302,145	310,537	107,378	106,538	107,979	86,407	25,866	39,343	19,931	18,244	16,980	17,893	14,250	9,835	8,434	6,857	40,062	33,696	566	320
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Total Stockholder Equity	466,168	456,754	483,756	412,394	247,343	249,381	161,166	168,442	186,685	132,538	72,604	12,500	15,615	16,736	17,090	29,119	36,237	30,694	43,183	-27,331	-18,937	17,020	1,731
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2003-12-31
Accounts Payable	27,354	24,542	23,709	23,561	19,898	24,405	23,721	20,294	18,597	17,527	16,496	15,459	12,736	13,554	12,467	17,302	14,948	13,966	12,592	10,375	9,659	10,587	9,670	11,583	12,431	10,791	11,697	11,259	10,673	10,990	11,926	12,801	12,744	11,174	9,344	9,659	7,621	7,785	7,522	7,921	8,605	5,720	5,196	5,429	5,103	4,795	4,847	5,229	5,270	4,831	5,185	4,437	4,512	4,752	3,804	4,765	3,600	3,813	4,316	3,232	5,150	4,106	3,902	5,267	4,651	3,658	5,662	1,930	1,930	1,547	1,355	1,463	1,243	2,191	1,204	1,104	733	0	-	279
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Other Comprehensive Income	-993	-2,184	-2,609	-3,072	-4,096	-5,295	-4,344	-3,465	-948	-213	-87	-18	312	57	-96	-371	-158	-376	-154	-286	-199	-136	-98	112	34	-10	-47	-393	-468	-449	-490	-284	-611	-490	-543	-798	-348	-588	-178	-139	-139	37	-56	-67	77	7	-90	16	-38	-87	101	95	80	134	-107	53	144	206	109	-112	-57	-180	57	96	5	12	-66	91	-4,508	38	-7	-6	-599	-669	-740	-645	-982	0	-	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Lease Obligations	11,368	11,520	12,072	12,608	12,242	14,752	15,014	15,470	15,906	11,910	12,373	11,715	12,149	12,496	12,958	14,103	14,570	14,738	12,984	13,342	12,172	12,336	12,492	12,626	12,761	12,910	13,048	13,184	13,319	13,423	13,504	13,592	0	68	68	79	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Stock	48	47	47	47	47	46	46	46	46	46	46	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Surpluse	0	0	803,197	790,965	787,422	778,006	771,185	761,580	764,811	755,048	748,644	738,484	742,389	729,220	723,754	526,302	529,658	524,658	498,402	492,177	496,544	407,442	396,088	388,976	386,963	382,181	377,554	370,374	367,851	364,199	361,023	356,638	352,900	280,668	277,787	273,019	271,282	268,676	266,985	264,297	194,933	153,420	152,660	151,340	123,157	122,268	121,172	119,456	118,853	117,300	116,786	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash	84,310	80,598	67,240	77,341	58,099	48,823	54,556	28,141	43,654	39,886	67,619	85,380	41,944	33,381	88,522	21,766	28,483	33,182	25,247	20,720	32,231	17,999	13,866	21,229	21,809	19,444	21,013	19,154	24,208	16,107	19,917	20,768	23,764	28,714	29,987	23,559	28,384	35,526	41,978	68,639	14,892	25,821	31,044	30,784	7,753	8,203	8,660	11,418	9,759	3,432	4,112	7,686	4,231	3,526	6,854	3,656	8,905	10,574	13,728	8,608	11,448	12,280	10,023	13,015	13,001	17,230	27,736	14,890	14,890	15,816	19,814	23,058	27,433	38,336	1,091	2,452	5,175	0	-	10,399
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash And Short Term Investments	137,285	133,014	127,025	135,860	121,113	122,644	118,454	111,397	119,090	119,746	159,865	227,205	244,218	233,069	232,498	68,537	81,801	79,739	90,841	100,630	124,402	40,219	37,068	36,038	34,451	34,386	34,978	34,465	44,009	41,343	42,427	23,324	34,578	48,426	54,479	55,733	59,649	59,434	63,201	79,355	26,211	29,685	34,942	36,029	12,000	13,048	13,455	15,290	14,183	15,219	15,911	15,659	12,571	11,456	11,980	11,845	15,722	15,286	15,736	8,608	11,448	12,280	11,919	14,918	20,007	21,209	28,736	19,488	0	19,505	24,989	27,979	33,802	38,336	1,091	2,452	5,175	0	-	0
Common Stock	48	47	47	47	47	46	46	46	46	46	46	46	45	45	45	40	40	40	39	39	39	36	35	35	35	34	34	34	33	33	33	33	32	28	28	28	28	27	27	27	23	21	21	21	17	17	17	16	16	16	16	16	16	16	16	15	15	15	15	15	14	14	14	14	14	14	14	12	12	12	12	12	12	12	2	2	2	0	-	2
Common Stock Shares Outstanding	46,447	46,411	46,266	46,107	45,912	45,823	45,692	45,528	45,331	46,100	45,035	44,632	44,124	44,012	41,649	38,671	38,190	37,842	37,334	36,976	36,480	33,601	33,252	32,926	32,654	32,576	32,288	32,020	31,794	31,706	31,575	31,358	30,634	27,462	27,304	27,069	26,935	26,915	26,849	24,766	20,785	20,725	20,652	19,544	16,332	16,278	16,132	16,016	16,016	15,811	15,613	15,396	15,396	15,149	15,026	14,997	14,997	14,614	14,457	14,297	14,297	14,208	14,185	14,150	14,150	14,125	12,944	12,298	12,298	12,149	12,118	12,096	12,096	8,151	1,888	1,882	1,882	1,823	1,806	1,792
Common Stock Total Equity	0	0	47	47	47	46	46	46	46	46	46	46	45	45	45	40	40	40	39	39	39	36	35	35	35	34	34	34	33	33	33	33	32	28	28	28	28	27	27	27	23	21	21	21	17	17	17	16	16	16	16	16	16	16	16	15	15	15	15	15	14	14	14	14	14	14	14	12	12	12	12	12	12	12	2	2	2	0	-	0
Current Deferred Revenue	0	0	0	0	0	0	0	0	0	1,487	1,616	1,329	1,256	1,165	1,136	1,171	1,658	1,117	807	870	886	551	523	619	634	870	776	1,108	1,289	957	859	2,214	912	725	735	814	1,272	1,602	883	960	1,453	699	526	472	366	0	0	4,319	449	0	688	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,933	0	0	0	0	-	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Good Will	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	234,781	236,316	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	105,257	35,386	35,386	35,386	35,386	35,386	35,386	35,386	35,386	23	26	29	32	36	39	42	45	48	56	73	89	106	147	217	288	358	428	6,812	6,812	6,812	6,763	6,763	6,763	6,222	3,841	3,841	3,841	3,841	3,841	3,841	4,828	3,840,837	0	0	0	0	-	0
Intangible Assets	63,986	65,684	67,383	38,601	39,339	40,078	41,049	42,020	42,992	43,963	127,234	127,961	128,199	128,437	128,904	129,392	129,881	130,370	48,286	48,770	49,254	49,738	50,080	50,422	50,764	51,105	51,447	51,789	52,131	52,542	52,953	53,364	53,775	7,970	8,272	8,575	8,878	9,233	9,588	9,944	10,299	23	26	29	32	36	39	42	45	48	56	73	89	106	147	217	288	358	428	499	569	640	710	780	851	1,096	666	773	773	826	880	933	4,828	4,881	0	0	0	0	-	0
Inventory	67,897	61,894	55,409	48,848	45,931	43,953	41,292	40,762	38,964	38,587	37,608	36,144	35,026	34,326	32,809	32,063	29,414	27,789	24,432	24,122	22,484	22,258	21,682	22,571	22,451	22,565	19,943	18,838	17,660	18,985	19,311	19,015	17,659	16,567	16,073	15,106	14,257	14,563	12,666	11,082	10,214	7,062	6,028	5,693	5,718	6,878	6,491	7,037	6,563	6,543	6,010	6,015	5,680	6,631	5,989	5,449	4,870	5,478	5,932	5,691	6,361	5,359	5,848	6,305	5,266	4,172	3,976	3,389	3,389	3,250	3,056	2,709	2,135	2,425	1,553	1,050	1,087	0	-	639
Liabilities And Stockholders Equity	613,932	600,271	594,171	583,100	585,448	581,911	587,389	584,983	615,312	612,969	701,075	699,902	714,539	707,797	704,233	527,734	557,880	560,756	343,120	338,360	356,759	271,962	270,847	269,702	267,704	268,451	268,510	266,423	276,421	279,316	281,513	261,710	273,092	165,642	159,309	153,406	158,404	157,140	155,933	158,554	111,947	57,637	57,481	58,127	32,431	33,744	36,024	36,588	33,859	34,121	36,137	36,730	33,716	35,673	34,754	32,989	34,982	36,074	34,789	27,976	43,369	45,642	40,609	43,620	46,071	45,942	49,778	39,128	39,128	41,501	44,140	46,973	50,040	54,310	12,514	12,408	12,731	0	-	0
Long Term Debt	60,593	42,153	47,047	51,940	56,834	60,061	59,954	59,848	59,741	56,354	43,669	48,552	53,435	49,985	54,154	58,323	59,634	59,517	33,886	32,737	35,571	38,554	39,399	39,313	24,100	18,689	20,421	22,154	23,886	25,023	24,969	13,592	13,710	68	68	79	74	55	65	69	4,412	4,922	5,391	5,899	6,407	6,866	7,366	7,873	4,926	5,286	5,670	6,054	662	1,172	1,676	2,175	2,669	3,094	3,581	28	6,037	6,044	538	243	283	385	485	590	693	793	893	989	1,084	1,245	0	0	0	0	-	0
Long Term Debt Total	0	0	47,047	51,940	56,834	60,061	59,954	59,848	59,741	56,354	43,669	48,552	53,435	49,985	54,154	58,323	59,634	59,517	33,886	32,737	47,743	50,890	51,891	51,939	36,861	31,599	33,469	35,338	37,205	38,446	38,473	13,592	13,710	68	68	79	74	55	65	69	4,412	4,922	5,391	5,899	6,407	6,866	7,366	7,873	4,926	5,286	5,670	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Long Term Investments	0	0	7,598	25,561	51,509	51,413	64,295	70,514	104,338	105,097	69,770	9,127	14,178	16,516	15,339	0	12,675	20,354	12,860	0	0	0	0	0	0	0	0	0	3,000	6,017	5,525	6,150	7,706	10,381	5,209	2,025	8,894	11,749	11,387	0	7,914	4,678	0	0	0	0	1,499	600	0	0	510	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Debt	-9,816	-6,223	7,594	-2,116	10,977	25,990	20,412	47,177	31,993	32,959	6,916	-11,805	32,057	41,170	-13,709	54,274	47,939	43,231	28,578	33,398	20,229	34,450	38,614	31,285	15,613	19,248	17,747	19,673	14,685	22,831	19,029	-6,714	-9,604	-15,075	-20,682	-17,484	-24,329	-32,930	-41,872	-68,532	-8,442	-18,862	-23,622	-22,855	683	697	745	-1,502	-3,290	3,389	3,092	-99	-1,376	-152	-2,967	739	-4,008	-5,277	-7,946	-8,546	-5,378	-6,202	-9,452	-12,328	-11,893	-16,433	-26,844	-13,806	-13,806	-14,638	-18,543	-21,695	-25,951	-36,767	-1,091	-2,452	-5,175	0	-	0
Net Invested Capital	529,294	525,688	525,184	517,462	513,588	510,369	516,664	522,673	543,497	549,404	447,245	453,103	474,246	479,587	478,717	289,303	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Receivables	52,501	51,528	48,362	45,661	42,693	41,466	41,488	40,878	33,021	33,498	33,835	29,741	23,146	25,448	22,892	22,131	28,046	26,798	27,955	26,662	25,195	23,290	24,895	22,325	23,083	22,580	23,110	21,661	21,094	21,066	21,354	19,446	19,409	16,643	17,590	19,786	17,558	15,177	15,058	14,713	13,652	11,031	11,344	11,135	9,948	9,391	10,383	9,723	9,514	8,853	9,899	9,271	9,480	13,517	7,721	8,697	7,248	6,503	7,357	7,593	6,512	8,716	9,458	8,553	7,190	7,362	7,248	6,562	6,562	6,086	5,599	5,491	4,865	3,769	4,205	4,397	3,521	0	-	0
Net Tangible Assets	0	0	160,258	181,463	182,634	175,449	180,880	186,024	205,983	209,725	23,068	28,501	49,414	54,314	53,177	-136,807	-117,319	-108,465	88,005	85,265	94,870	8,773	4,350	-2,556	5,145	2,557	4,797	3,812	11,054	15,635	18,790	22,406	27,653	82,128	85,033	84,598	88,274	90,416	89,246	88,933	26,919	36,222	38,114	38,571	12,468	13,525	14,897	14,610	15,570	16,044	16,866	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Working Capital	191,677	170,181	166,565	175,854	156,822	154,687	149,850	152,232	139,631	141,753	168,511	239,841	257,600	251,458	253,982	87,953	93,244	93,571	107,093	119,554	134,457	54,685	59,345	57,897	50,355	46,074	49,416	50,700	56,889	57,920	61,276	39,199	43,164	45,048	60,598	68,786	67,865	68,829	75,885	91,235	25,774	32,282	40,063	41,663	16,334	18,515	19,686	21,291	20,384	21,769	22,444	22,421	17,613	16,583	17,200	17,878	19,545	19,765	21,567	17,908	17,997	19,466	21,175	21,531	24,624	26,597	31,734	23,031	23,031	24,116	28,288	31,228	35,875	39,642	2,274	4,617	6,590	0	-	0
Non Current Assets Total	347,686	347,552	356,196	344,775	370,234	369,626	381,223	385,376	419,236	417,262	465,131	401,598	407,802	411,585	412,199	400,710	414,720	422,903	196,595	183,341	182,086	183,533	184,082	184,933	185,446	186,305	187,399	187,314	190,704	194,906	195,048	196,317	198,340	81,529	68,570	59,991	64,896	66,419	63,168	51,306	59,460	9,080	4,015	3,770	3,892	3,625	4,596	3,478	2,666	2,380	3,090	2,781	3,067	3,386	3,412	3,430	3,631	4,933	4,195	4,384	17,266	17,907	12,155	12,425	12,209	11,845	8,830	8,440	0	11,200	9,997	10,069	8,393	8,647	4,973	3,808	2,835	0	-	0
Non Current Liabilities Other	1,234	1,227	13,292	1,236	13,468	13,944	14,409	14,935	15,370	14,192	192,517	201,644	199,573	195,526	195,165	202,974	200,987	198,736	28,254	30,866	19,419	23,560	31,849	37,768	37,774	41,861	41,845	41,818	41,946	40,946	40,851	40,897	41,109	1,025	409	139	149	158	4,768	8,209	8,218	195	547	934	1,319	1,713	1,980	2,245	2,510	2,771	2,943	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Current Liabilities Total	73,195	54,900	60,339	65,784	70,302	74,005	74,363	74,783	75,111	70,546	248,559	250,196	253,008	245,511	249,319	261,297	260,621	258,253	62,140	63,603	67,162	74,450	83,740	89,707	74,635	73,460	75,314	77,156	79,151	79,392	79,324	54,489	54,819	1,093	477	218	223	213	4,833	8,278	12,630	5,117	5,938	6,833	7,726	8,579	9,346	10,118	7,435	8,057	8,613	9,167	3,945	4,256	4,874	5,485	6,086	6,408	3,647	110	6,143	6,173	865	557	596	719	822	777	0	864	948	1,031	1,084	1,294	38,727	37,742	36,756	0	-	0
Non Currrent Assets Other	2,160	1,644	1,541	1,620	1,985	829	804	685	955	1,055	488	474	440	399	366	474	705	762	473	486	495	574	619	705	676	676	736	338	321	348	411	391	323	337	351	131	186	209	345	207	218	244	304	286	430	384	405	293	271	222	243	154	255	311	322	330	335	377	387	321	6,201	6,216	227	117	129	141	153	183	183	2,999	2,004	2,022	206	215	2,300	1,246	425	0	-	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Other Assets	0	0	0	1,620	1,985	829	804	685	955	1,055	488	474	16,532	19,278	366	474	705	762	473	486	495	574	619	156,384	156,697	157,038	157,440	157,384	160,709	164,164	164,146	165,162	167,061	54,074	49,218	46,117	53,344	56,577	56,706	45,537	53,817	4,945	330	315	462	420	1,943	935	315	270	809	227	344	417	469	547	622	1,847	815	820	13,583	13,668	7,701	7,660	7,742	7,459	4,660	4,728	4,797	7,666	6,726	6,796	5,033	5,096	2,300	1,246	425	0	-	7
Other Current Assets	8,563	6,283	7,179	7,956	5,477	4,222	4,932	6,570	5,001	3,876	4,636	5,214	4,347	3,369	3,835	4,293	3,899	3,527	3,297	3,605	2,592	2,662	3,120	3,835	2,273	2,615	3,080	4,145	2,954	3,016	3,373	3,608	3,106	2,477	2,597	2,790	2,044	1,547	1,840	2,098	2,410	779	1,152	1,500	873	802	1,099	16,349	933	1,125	1,228	3,004	2,918	682	5,652	3,569	3,511	3,873	1,568	1,700	1,782	1,380	1,228	1,419	1,400	1,353	988	1,248	1,248	1,460	499	726	845	1,133	500	500	113	0	-	210
Other Current Liab	44,682	37,294	31,986	28,233	33,022	31,162	30,775	25,321	36,092	30,359	30,828	28,367	26,728	17,965	16,748	16,984	31,092	27,041	19,078	16,181	24,954	21,047	16,638	14,095	18,277	17,318	13,931	12,553	15,178	14,051	11,931	10,717	17,482	13,595	10,825	8,160	12,769	9,964	8,434	7,094	14,617	7,819	5,650	4,763	4,707	4,775	4,856	227	3,547	3,606	3,197	5,558	6,330	8,751	8,126	4,696	5,979	5,360	2,509	2,417	2,923	4,129	3,343	3,954	3,762	3,429	3,144	5,335	5,336	4,253	4,121	3,838	4,132	1,573	4,062	2,879	2,572	0	-	612
Other Liab	0	0	0	1,236	1,226	1,223	1,215	1,225	1,220	2,282	192,517	189,929	187,424	183,030	182,207	188,871	186,417	183,998	15,270	17,524	19,419	23,560	31,849	37,768	37,774	41,861	41,845	41,818	41,946	40,946	40,851	40,897	41,109	1,025	409	139	149	158	4,768	8,209	8,218	195	547	934	1,319	1,713	1,980	2,245	2,509	2,771	2,943	3,113	3,283	3,084	3,198	3,310	3,416	3,314	66	82	106	128	327	314	314	334	337	323	84	70	56	43	0	0	0	0	0	0	-	0
Other Stockholder Equity	824,170	812,238	803,197	790,965	787,422	778,006	771,185	761,580	764,811	755,048	748,644	738,484	742,389	729,220	723,754	526,302	529,658	524,658	498,402	492,177	496,544	407,442	396,088	388,976	386,963	382,181	377,554	370,374	367,851	364,199	361,023	356,638	352,900	280,668	277,787	273,019	271,282	268,676	266,985	264,297	194,933	153,420	152,660	151,340	123,157	122,268	121,172	119,456	118,853	117,300	116,786	114,958	114,402	113,336	112,574	111,734	110,900	109,650	108,874	107,719	106,637	105,643	104,900	104,202	103,525	103,439	102,938	86,646	0	86,194	85,967	85,687	86,108	85,981	-4,763	3,335	3,281	0	-	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	38,727	37,741	36,756	0	-	32,805
Property Plant And Equipment Gross	99,183	45,443	44,893	44,212	42,620	42,525	0	0	0	0	32,858	29,255	30,204	31,452	32,809	36,063	36,678	35,101	29,719	28,828	27,080	27,964	28,126	28,549	28,749	29,267	29,959	29,930	29,995	30,742	30,902	31,155	31,279	27,455	19,352	13,874	11,552	9,842	6,462	5,769	5,643	4,135	3,685	3,455	3,430	3,205	2,653	2,544	2,351	2,111	2,282	2,554	2,723	2,970	2,943	2,883	3,009	3,086	3,380	3,564	3,683	4,239	4,455	4,764	4,466	4,386	4,170	3,643	3,643	3,534	3,272	3,273	3,360	3,551	2,673	2,561	2,410	0	-	0
Property Plant And Equipment Net	46,759	45,443	44,893	44,212	42,620	42,525	40,294	37,376	36,170	32,366	32,858	29,255	30,204	31,452	32,809	36,063	36,678	35,101	29,719	28,828	27,080	27,964	28,126	28,549	28,749	29,267	29,959	29,930	29,995	30,742	30,902	31,155	31,279	27,455	19,352	13,874	11,552	9,842	6,462	5,769	5,643	4,135	3,685	3,455	3,430	3,205	2,653	2,544	2,351	2,111	2,282	2,554	2,723	2,970	2,943	2,883	3,009	3,086	3,380	3,564	3,683	4,239	4,455	4,764	4,466	4,386	4,170	3,643	0	3,534	3,272	3,273	3,360	3,551	2,673	2,561	2,410	0	-	0
Property Plant Equipment	0	0	0	44,212	42,620	38,556	36,053	32,867	36,170	29,901	32,858	27,633	28,290	29,089	30,236	32,324	32,646	30,788	28,095	27,050	27,080	27,964	28,126	28,549	28,749	29,267	29,959	29,930	29,995	30,742	30,902	31,155	31,279	27,455	19,352	13,874	11,552	9,842	6,462	5,769	5,643	4,135	3,685	3,455	3,430	3,205	2,653	2,544	2,351	2,111	2,282	2,554	2,724	2,969	2,944	2,883	3,009	3,086	3,381	3,564	3,683	4,239	4,455	4,765	4,466	4,386	4,170	3,768	3,643	3,534	3,271	3,273	3,359	3,551	2,673	2,562	2,410	0	-	1,876
Retained Earnings	-357,057	-347,268	-338,213	-333,095	-326,619	-322,449	-310,177	-295,336	-280,153	-266,412	-363,520	-347,269	-330,352	-311,790	-306,841	-298,605	-282,197	-266,101	-256,739	-252,638	-247,003	-243,574	-236,338	-236,000	-225,866	-223,286	-216,040	-209,157	-198,974	-190,349	-183,566	-175,360	-165,636	-154,722	-148,581	-143,690	-138,424	-133,080	-132,614	-129,922	-122,213	-117,233	-114,485	-112,694	-110,751	-108,731	-106,163	-104,837	-103,217	-101,138	-99,981	-99,035	-97,762	-97,773	-96,744	-95,979	-93,970	-91,580	-86,883	-85,440	-77,475	-74,276	-72,506	-70,913	-67,308	-65,742	-63,144	-56,055	-56,055	-51,791	-48,636	-45,427	-42,337	-38,328	-34,360	-32,009	-29,633	0	-	0
Retained Earnings Total Equity	0	0	-338,213	-333,095	-326,619	-322,449	-310,177	-295,336	-280,153	-266,412	-363,520	-347,269	-330,352	-311,790	-306,841	-298,605	-282,197	-266,101	-256,739	-252,638	-247,003	-243,574	-236,338	-236,000	-225,866	-223,286	-216,040	-209,157	-198,974	-190,349	-183,566	-175,360	-165,636	-154,722	-148,581	-143,690	-138,424	-133,080	-132,614	-129,922	-122,213	-117,233	-114,485	-112,694	-110,751	-108,731	-106,163	-104,837	-103,217	-101,138	-99,981	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt	2,533	20,702	15,715	10,677	5,472	0	0	0	1,756	4,581	18,493	13,308	8,417	12,070	7,701	3,614	2,218	2,158	6,955	8,039	0	1,559	589	575	561	7,093	38,760	38,827	1,688	0	0	0	14,160	0	0	0	74	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt Total	74,494	74,375	74,834	75,225	69,076	74,813	74,968	75,318	75,647	72,845	74,535	73,575	74,001	74,551	74,813	76,040	76,422	76,413	53,825	54,118	52,460	52,449	52,480	52,514	37,422	38,692	38,760	38,827	38,893	38,938	38,946	14,054	14,160	13,639	9,305	6,075	4,055	2,596	106	107	6,450	6,959	7,422	7,929	8,436	8,900	9,405	9,917	6,469	6,821	7,204	7,587	2,855	3,374	3,887	4,394	4,897	5,297	5,782	62	6,071	6,079	571	687	1,108	797	892	1,084	1,084	1,178	1,272	1,363	1,482	1,569	0	0	0	0	-	0
Short Term Debt	2,533	20,702	15,715	10,677	5,472	2,031	1,820	1,760	1,756	4,581	18,493	13,308	8,417	12,070	7,701	3,614	2,218	2,158	6,955	8,039	4,717	1,559	589	575	561	7,093	5,291	3,489	1,688	492	473	462	450	13,571	9,237	5,996	3,981	2,541	41	38	2,038	2,037	2,031	2,030	2,029	2,034	2,039	2,044	1,543	1,535	1,534	1,533	2,193	2,202	2,211	2,219	2,227	2,203	2,202	35	34	33	33	443	825	413	408	391	391	385	379	374	398	324	0	0	0	0	-	0
Short Term Investments	52,975	52,416	59,785	58,519	63,014	73,821	63,898	83,256	75,436	79,860	92,246	141,825	202,274	199,688	143,976	46,771	53,318	46,557	65,594	79,910	92,171	22,220	23,202	14,809	12,642	14,942	13,965	15,311	19,801	25,236	22,510	2,556	10,814	19,712	24,492	32,174	31,265	23,908	21,223	10,716	11,319	3,864	3,898	5,245	4,247	4,845	4,795	3,871	4,424	11,787	11,799	7,974	8,340	7,930	5,126	8,189	6,817	4,712	2,007	0	0	0	1,895	1,904	7,006	3,979	999	4,598	4,598	3,689	5,175	4,920	6,369	0	0	0	0	0	-	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Assets	613,932	600,271	594,171	583,100	585,448	581,911	587,389	584,983	615,312	612,969	701,075	699,902	714,539	707,797	704,233	527,734	557,880	560,756	343,120	338,360	356,759	271,962	270,847	269,702	267,704	268,451	268,510	266,423	276,421	279,316	281,513	261,710	273,092	165,642	159,309	153,406	158,404	157,140	155,933	158,554	111,947	57,637	57,481	58,127	32,431	33,744	36,024	36,588	33,859	34,121	36,137	36,730	33,716	35,673	34,754	32,989	34,982	36,074	34,789	27,976	43,369	45,642	40,609	43,620	46,071	45,942	49,778	39,128	39,128	41,501	44,140	46,973	50,040	54,310	12,514	12,408	12,731	0	-	14,759
Total Current Assets	266,246	252,719	237,975	238,325	215,214	212,285	206,166	199,607	196,076	195,707	235,944	298,304	306,737	296,212	292,034	127,024	143,160	137,853	146,525	155,019	174,673	88,429	86,765	84,769	82,258	82,146	81,111	79,109	85,717	84,410	86,465	65,393	74,752	84,113	90,739	93,415	93,508	90,721	92,765	107,248	52,487	48,557	53,466	54,357	28,539	30,119	31,428	33,110	31,193	31,740	33,047	33,949	30,648	32,287	31,341	29,559	31,351	31,141	30,593	23,592	26,103	27,735	28,453	31,195	33,863	34,097	40,948	30,688	30,688	30,301	34,143	36,904	41,648	45,663	7,541	8,600	9,896	0	-	0
Total Current Liabilities	74,569	82,538	71,410	62,471	58,392	57,598	56,316	47,375	56,445	53,954	67,433	58,463	49,137	44,754	38,052	39,071	49,916	44,282	39,432	35,465	40,216	33,744	27,420	26,872	31,903	36,072	31,695	28,409	28,828	26,490	25,189	26,194	31,588	39,065	30,141	24,629	25,643	21,892	16,880	16,013	26,713	16,275	13,403	12,694	12,205	11,604	11,742	11,818	10,809	9,972	10,603	11,528	13,035	15,704	14,141	11,680	11,807	11,375	9,027	5,684	8,107	8,269	7,278	9,664	9,239	7,500	9,214	7,657	7,657	6,185	5,855	5,675	5,773	6,021	5,266	3,983	3,306	0	-	891
Total Liab	147,764	137,438	131,749	128,255	128,694	131,603	130,679	122,158	131,556	124,500	315,992	308,659	302,145	290,265	287,371	300,368	310,537	302,535	101,572	99,068	107,378	108,194	111,160	116,579	106,538	109,532	107,009	105,565	107,979	105,882	104,513	80,683	86,407	40,158	30,618	24,847	25,866	22,105	21,713	24,291	39,343	21,392	19,341	19,527	19,931	20,183	21,088	21,936	18,244	18,028	19,216	20,696	16,980	19,961	19,014	17,165	17,893	17,783	12,673	5,794	14,250	14,441	8,143	10,221	9,835	8,218	10,036	8,434	8,434	7,049	6,803	6,707	6,857	7,315	43,993	41,724	40,062	0	-	891
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Stockholder Equity	466,168	462,833	462,422	454,845	456,754	450,308	456,710	462,825	483,756	488,469	385,083	391,243	412,394	417,532	416,862	227,366	247,343	258,221	241,548	239,292	249,381	163,768	159,687	153,123	161,166	158,919	161,501	160,858	168,442	173,434	177,000	181,027	186,685	125,484	128,691	128,559	132,538	135,035	134,220	134,263	72,604	36,245	38,140	38,600	12,500	13,561	14,936	14,652	15,615	16,092	16,921	16,035	16,736	15,713	15,739	15,824	17,090	18,291	22,115	22,182	29,119	31,201	32,465	33,399	36,237	37,723	39,742	30,694	30,694	34,453	37,336	40,266	43,183	46,996	-31,479	-29,316	-27,331	0	-	13,868
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31
Begin Period Cash Flow	58,099	43,654	41,944	28,483	32,231	21,809	24,208	23,764	28,384	14,892	7,753	9,759	4,231	8,905	11,448	13,001	14,890	27,433	5,175	10,399	0
Capital Expenditures	41,998	16,881	9,753	5,259	12,182	6,211	6,384	7,692	23,997	9,207	2,864	2,985	1,522	1,814	1,360	1,748	3,045	1,681	1,952	1,513	1,254
Cash And Cash Equivalents Changes	0	14,806	1,710	13,461	-3,748	10,422	-2,399	444	-4,620	13,492	7,139	-2,006	5,528	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-2,297	-3,466	7	-828	266	249	118	-486	264	-1,027	-141	-199	0	0	0	0	0	0	0	0
Change In Cash	26,211	14,445	1,710	13,461	-3,748	10,422	-2,399	444	-4,620	13,492	7,139	-2,006	5,528	-4,675	-2,543	-1,552	-1,890	-12,543	22,258	-5,224	0
Change In Working Capital	-18,240	-18,880	-4,846	-6,639	-4,615	1,399	-2,002	-5,079	2,603	-11,038	996	78	-1,510	-1,621	-507	-1,182	-1,036	-1,741	204	-246	0
Change Receivables	0	-8,989	-10,087	5,087	-3,201	-2,837	-1,464	-1,982	-900	-4,168	-1,248	-417	-199	0	0	0	0	0	0	0	0
Change To Account Receivables	-9,872	-8,989	-10,087	5,087	-3,201	-2,837	-1,464	-1,982	-900	-4,168	-1,248	-417	-199	-2,300	-686	609	0	0	92	0	0
Change To Inventory	-21,830	-7,305	-4,274	-5,265	-5,151	-146	-4,477	-79	-2,950	-4,343	-2,288	865	-924	-850	1,505	-1,149	-1,381	-1,254	-194	-448	0
Change To Liabilities	0	-289	12,981	-6,468	5,898	4,618	3,518	-2,987	7,083	-2,791	5,559	-229	-188	656	0	0	851	1,616	605	2,415	315
Change To Netincome	0	29,510	-72,815	23,632	13,846	6,158	10,700	13,506	9,707	262	3,060	3,509	2,877	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-5,263	4,805	-4,901	947	6,780	2,649	-1,946	2,440	-1,583	0	0	0	0	0	0	0	0	0	0	0
Depreciation	14,813	11,710	10,441	9,548	9,366	8,754	9,128	9,299	6,278	4,774	2,020	1,899	1,922	2,363	2,773	2,682	2,322	1,885	1,554	962	0
Dividends Paid	-60	-6,041	-12,356	14,165	3,864	25,776	4,402	28,337	3,043	6,935	2,508	10,659	0	0	0	0	0	0	0	0	0
End Period Cash Flow	84,310	58,099	43,654	41,944	28,483	32,231	21,809	24,208	23,764	28,384	14,892	7,753	9,759	4,231	8,905	11,448	13,001	14,890	27,433	5,175	10,399
Exchange Rate Changes	0	0	-372	136	-163	-179	24	-53	-238	-156	-316	65	-57	0	0	0	0	0	0	0	0
Free Cash Flow	-37,574	-39,022	-23,533	-25,128	-27,993	-10,382	-15,328	-22,811	-31,839	-30,807	-8,086	-4,921	-3,509	-1,847	-941	-7,458	-11,160	-14,146	-9,568	-5,313	0
Investments	21,817	60,887	33,257	-151,739	27,236	-79,199	10,145	-4,390	21,077	-21,493	-15,043	164	3,857	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	188,958	0	82,873	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-899	3,829	-35	19,671	14,490	-1,739	24,441	-391	-6,563	-2,154	1,777	3,373	0	0	0	0	0	0	0	0
Net Income	-30,438	-46,466	50,199	-48,155	-35,194	-21,137	-26,892	-33,338	-27,212	-16,211	-11,462	-7,534	-5,456	-3,792	-16,495	-10,167	-11,253	-13,717	-12,683	-9,452	0
Other Cashflows From Financing Activities	60	6,041	16,185	28,295	24,035	49,291	8,754	56,554	16,510	13,689	4,917	21,191	9,088	353	6,298	6,240	-394	-370	1,395	-1,513	0
Other Cashflows From Investing Activities	0	0	0	800	-17,201	6	10,145	3	-7,581	77	3,756	24	389	0	6,000	0	0	0	0	0	0
Other Non Cash Items	93,440	2,724	-182,434	1,222	-3,790	-10,406	-3,814	1,187	61	-7,824	115	100	-5,302	-16	10,823	343	1,851	1,107	3,308	4,936	0
Sale Purchase Of Stock	-6,557	-12,201	-18,011	-13,029	-9,033	-4,457	-2,013	-1,701	-782	-331	-398	-401	-783	0	0	0	0	0	0	0	0
Stock Based Compensation	35,728	28,771	28,078	22,642	17,977	16,495	14,615	11,697	8,997	7,571	3,080	3,468	2,939	2,772	3,886	2,671	0	0	0	0	0
Total Cash From Financing Activities	28	-7,059	-7,642	189,392	14,373	100,176	2,760	27,695	13,961	65,871	26,828	2,662	4,847	-1,443	-914	5,281	15,028	-277	44,615	89	18
Total Cash From Operating Activities	4,424	-22,141	-13,780	-19,869	-15,811	-4,171	-8,944	-15,119	-7,842	-21,600	-5,222	-1,936	-1,986	-33	420	-5,710	-8,116	-12,466	-7,616	-3,800	0
Total Cashflows From Investing Activities	0	44,006	23,504	-156,198	-2,147	-85,404	3,761	-12,079	-10,501	-30,623	-14,151	-2,797	2,724	0	0	0	0	115	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2003-12-31
Begin Period Cash Flow	80,598	67,240	77,341	58,099	48,823	54,556	28,141	43,654	39,886	67,619	85,380	41,944	33,381	88,522	21,766	28,483	33,182	25,247	20,720	32,231	17,999	13,866	21,229	21,809	19,444	21,013	19,154	24,208	16,107	19,917	20,768	23,764	28,714	29,987	23,559	28,384	35,526	41,978	68,639	14,892	25,821	31,044	30,784	7,753	8,203	8,660	11,418	9,759	3,432	4,112	7,686	4,231	3,526	6,854	3,656	8,905	10,574	13,728	8,608	11,448	12,280	10,023	13,015	13,001	17,230	27,736	13,186	15,816	15,816	19,814	23,058	27,433	38,336	1,091	2,452	5,175	6,841	8,306	0
Capital Expenditures	2,786	3,630	33,080	2,502	4,171	5,145	4,184	3,381	2,710	1,504	4,213	1,326	1,052	1,263	1,112	1,832	4,357	3,369	2,747	1,709	1,083	1,655	1,387	2,086	1,249	1,647	1,760	1,728	1,590	1,761	1,537	2,804	6,582	8,532	5,627	3,256	4,818	1,914	1,455	1,020	934	739	736	455	613	977	733	662	670	214	249	389	279	498	640	397	354	248	385	373	163	492	260	832	776	827	915	302	302	735	450	193	465	603	434	450	250	426	1,254
Cash And Cash Equivalents Changes	0	0	-10,075	19,217	9,030	-5,428	26,611	-15,407	3,513	-27,478	-17,761	43,436	8,563	-55,141	66,756	-6,717	-4,699	7,935	4,527	-11,511	14,232	4,133	-7,363	-580	2,365	-1,569	1,859	-5,054	8,101	-3,810	-851	-2,996	-4,950	-1,273	6,428	-4,825	-7,142	-6,452	-26,661	53,747	-10,929	-5,223	260	23,031	-450	-457	-2,758	1,659	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	559	-2,256	-2,554	550	1,241	-1,534	-2,237	-350	370	-1,249	-1,369	876	1,119	-619	326	-338	239	-1,055	700	374	711	-1,519	161	582	836	-1,330	174	518	156	-730	-440	364	341	-751	244	374	-611	257	-1,351	425	406	-507	-89	295	-151	-196	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	3,712	13,358	-10,101	19,242	9,276	-5,733	26,415	-15,513	3,768	-27,733	-17,761	43,436	8,563	-55,141	66,756	-6,717	-4,699	7,935	4,527	-11,511	14,232	4,133	-7,363	-580	2,365	-1,569	1,859	-5,054	8,101	-3,810	-851	-2,996	-4,950	-1,273	6,428	-4,825	-7,142	-6,452	-26,661	53,747	-10,929	-5,223	260	23,031	-450	-457	-2,758	1,659	6,327	-680	-3,574	3,455	705	-3,328	3,199	-5,250	-1,668	-3,154	5,120	-2,840	-832	2,257	-2,991	14	-4,230	-10,506	14,550	-926	-926	-3,998	-3,244	-4,375	-10,903	37,245	-1,361	-2,724	-1,666	-1,465	0
Change In Working Capital	-496	-2,968	-5,020	-9,756	-5,511	-696	7,717	-20,390	2,261	-822	-1,710	-4,575	8,259	-312	-5,091	-9,495	2,491	2,207	3,305	-12,618	1,092	6,487	-749	-5,431	1,985	1,600	-241	-5,346	2,216	2,313	-3,141	-6,467	1,801	4,725	3,424	-7,347	-575	1,436	-1,749	-10,150	290	2,170	187	-1,651	834	560	-621	-695	37	-361	-2	-1,183	266	39	546	-2,471	447	1,037	1,012	-3,003	680	2,029	-2,320	-1,570	72	-738	-632	749	-1,085	-1,238	29	-1,280	-966	2,111	-84	-857	461	145	0
Change Receivables	0	0	-2,663	-2,900	-4	-228	-807	-7,950	496	216	-4,103	-6,696	2,412	-2,452	-748	5,875	-1,156	814	-1,312	-1,547	-2,110	1,219	-2,729	783	-434	643	-1,276	-397	-205	120	-1,927	30	-1,471	1,039	2,217	-2,685	-2,383	-337	-403	-1,045	-199	414	-232	-1,231	-542	1,041	-739	-177	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-932	-3,377	-2,663	-2,900	-4	-228	-807	-7,950	496	216	-4,103	-6,696	2,412	-2,452	-748	5,875	-1,156	814	-1,312	-1,547	-2,110	1,219	-2,729	783	-434	643	-1,276	-397	-205	120	-1,927	30	-1,471	1,039	2,217	-2,685	-2,383	-337	-403	-1,045	-199	414	-232	-1,231	-542	1,041	-739	-177	-705	973	-647	180	-741	-921	848	-1,487	-770	939	261	-1,116	609	0	0	42,872	0	0	0	-66,624	0	0	0	-605,449	92	1,188	0	0	0	0	0
Change To Inventory	-5,793	-6,660	-6,530	-2,847	-1,595	-2,983	-793	-1,934	-465	-1,102	-1,443	-1,264	-519	-1,344	-674	-2,728	-1,508	-1,677	-267	-1,699	-256	-593	746	-43	155	-2,538	-949	-1,145	1,155	361	-363	-1,232	-489	-484	-873	-1,104	212	-2,098	-1,595	-862	-975	-993	-319	-1	1,184	-358	489	-450	-43	-611	23	-292	936	-539	-625	-622	591	477	-209	647	-995	402	451	-1,007	-1,044	250	140	-140	-140	-194	-347	-573	290	-18	-502	37	-56	-20	0
Change To Liabilities	0	0	3,614	-1,753	-1,358	1,965	8,076	-8,972	4,467	414	736	4,634	7,735	2,608	-4,788	-12,023	5,696	3,640	4,776	-8,214	3,356	5,391	523	-4,652	1,931	2,913	1,148	-2,474	1,241	1,314	-1,007	-4,535	4,345	3,806	1,739	-2,807	1,352	3,497	860	-8,500	2,815	2,324	332	88	281	-418	-220	128	0	0	0	0	656	701	0	0	0	0	0	0	0	64	0	730	851	0	294	506	1,616	364	0	0	605	841	160	676	2,415	0	315
Change To Netincome	0	0	9,322	8,920	6,478	7,780	7,865	7,387	8,182	-100,366	10,645	9,375	11,396	5,952	-950	7,234	6,724	1,963	2,339	2,820	569	3,870	-2,135	3,854	-30	3,461	3,694	3,575	4,484	3,100	2,944	2,978	2,703	2,381	2,491	2,132	2,557	-3,762	-767	2,234	972	719	828	541	601	1,069	1,150	689	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	0	0	0	-914	1,080	6,806	-12,235	2,047	-892	3,100	550	7,411	2,029	823	-15,164	3,067	4,775	2,915	-9,810	4,364	4,921	3,258	-5,763	2,649	4,005	1,772	-1,330	-1,946	518	156	0	2,440	0	0	0	-1,583	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	4,179	4,111	3,580	2,943	2,919	2,987	2,937	2,867	2,833	2,828	2,658	2,122	2,167	2,479	2,458	2,444	2,383	2,393	2,362	2,228	2,223	2,128	2,204	2,199	2,271	2,267	2,286	2,304	2,441	2,358	2,289	2,211	2,066	1,519	1,382	1,311	1,303	1,254	1,132	1,085	555	508	496	461	379	467	574	531	430	414	548	530	588	539	606	631	626	602	604	582	517	742	686	738	660	616	544	520	520	480	458	427	493	428	334	299	298	257	0
Dividends Paid	-2,359	-815	-3,536	-522	2,284	383	0	0	0	0	0	0	3,423	0	0	0	0	0	238	0	0	0	0	0	0	0	0	0	0	0	0	0	282	0	0	0	0	0	950	1,395	0	0	564	1,002	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	84,310	80,598	67,240	77,341	58,099	48,823	54,556	28,141	43,654	39,886	67,619	85,380	41,944	33,381	88,522	21,766	28,483	33,182	25,247	20,720	32,231	17,999	13,866	21,229	21,809	19,444	21,013	19,154	24,208	16,107	19,917	20,768	23,764	28,714	29,987	23,559	28,384	35,526	41,978	68,639	14,892	25,821	31,044	30,784	7,753	8,203	8,660	11,418	9,759	3,432	4,112	7,686	4,231	3,526	6,854	3,656	8,905	10,574	13,728	8,608	11,448	12,280	10,023	13,015	13,001	17,230	27,736	14,890	14,890	15,816	19,814	23,058	27,433	38,336	1,091	2,452	5,175	6,841	8,306
Exchange Rate Changes	0	0	0	0	0	0	0	0	-257	0	13	-128	221	0	42	-127	77	-135	15	-120	-56	-49	-110	36	-19	17	36	-10	-127	5	-80	149	-49	-4	48	-233	-110	-52	11	-5	-206	-11	-16	-83	6	52	4	3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	1,244	-2,108	-30,069	-6,581	-4,125	-6,929	45	-28,013	-2,409	-1,736	-8,746	-10,642	2,902	2,549	-12,660	-17,919	-7,886	-5,959	999	-15,147	-98	3,558	-2,322	-11,520	279	-1,516	-2,817	-11,274	-829	-685	-7,562	-13,735	-10,662	-5,900	-3,051	-12,226	-6,831	-3,128	-5,430	-15,418	-3,998	-65	-994	-3,029	-804	-1,440	-931	-1,746	-1,797	-569	118	-1,260	1,255	-181	452	-3,374	-264	1,283	856	-2,816	-988	1,133	-2,942	-4,661	-1,102	-2,994	-3,580	-2,819	-2,819	-4,468	-2,900	-3,959	-4,468	-1,496	-1,375	-2,228	-1,675	-1,544	0
Investments	-2,786	11,870	17,000	31,315	11,173	1,906	24,705	23,103	3,787	-23,597	-11,846	64,913	-928	-57,474	-112,500	19,163	977	11,724	1,817	12,718	-69,743	1,054	-8,351	-2,159	2,314	-952	1,329	7,454	8,403	-3,257	-19,336	9,800	11,428	-509	4,345	5,813	-4,695	-3,225	-22,007	8,434	-10,757	-4,642	1,350	-994	602	1,454	-1,833	-59	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	-243	-300	-237	-662	-220	-217	3,829	-1,870	-201	-198	-1	-30	-4	-94	459	19,815	-154	-449	-147	-139	-165	14,941	-1,324	-124	-171	-120	-96	-125	24,769	-107	-293	-11	-73	-14	-20	-22	-78	-6,443	-508	-534	-580	-532	-577	-507	-562	3,423	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	-9,789	-9,055	-5,118	-6,476	-4,170	-12,272	-14,841	-15,183	-13,741	97,108	-16,251	-16,917	-18,562	-4,949	-8,236	-16,408	-16,096	-9,362	-4,101	-5,635	-3,430	-7,235	-338	-10,134	-2,580	-7,246	-6,883	-10,183	-8,625	-6,783	-8,206	-9,724	-10,914	-6,141	-4,891	-5,266	-5,344	-466	-2,692	-7,709	-4,980	-2,748	-1,791	-1,943	-2,020	-2,567	-1,326	-1,620	-2,079	-1,156	-947	-1,273	12	-1,029	-765	-2,009	-2,390	-4,697	-1,443	-7,965	-3,199	-1,770	-1,593	-3,605	-1,565	-2,598	-2,787	-4,264	-4,264	-3,156	-3,208	-3,090	-4,010	-3,964	-2,343	-2,366	-3,486	-2,662	0
Other Cashflows From Financing Activities	2,359	815	3,536	462	2,284	383	3,019	355	6,165	1,010	4,422	4,588	6,845	493	191,807	4,036	1,581	20,730	-1	-219	84,311	407	3,616	18,054	232	1,096	3,598	631	742	294	26,272	1,896	1,922	5,229	5,166	2,338	4,570	8	1,831	2,690	905	36	1,055	1,979	19	-18	542	10,188	613	11	1,061	7,227	234	150	177	17	231	-197	6,671	-51	160	5,238	302	-523	-101	-101	-97	-94	1,591	-93	-91	-91	-87	1,483	-434	-950	-250	-426	0
Other Cashflows From Investing Activities	0	0	-30,000	0	0	0	0	0	0	0	0	0	0	0	800	800	779	-17,988	14,543	8	-79,193	0	6	0	0	0	0	0	0	3	0	0	-7,581	0	0	0	77	0	0	0	3,754	2	0	0	0	0	0	24	300	0	0	0	0	0	0	0	6,000	6,000	6,000	6,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	23,189	606	449	450	-389	1,196	892	1,025	842	-189,097	2,943	2,878	4,782	548	-7,067	2,959	2,445	-2,706	-2,020	-1,509	-3,955	-752	-5,792	93	-4,012	66	66	66	1,035	66	71	15	15	15	15	16	14	-5,351	-2,641	154	46	23	25	21	5,614	-2,568	-1,326	-1,620	-2,079	-1,156	-2,226	159	5	-6	3	-17	318	3,724	143	-5	-1,758	624	546	609	508	553	211	478	478	180	272	177	478	533	1,152	1,146	1,301	1,142	0
Sale Purchase Of Stock	-84	-435	-299	-5,739	-65	-563	-938	-10,635	-111	-1,400	-1,403	-15,097	-100	-606	-547	-11,776	-57	-281	-94	-8,601	-35	-698	-59	-3,665	-22	-90	-166	-1,735	-623	-45	-34	-999	-132	-78	-69	-503	-133	-45	-65	-88	-119	-10	-24	-245	352	562	-30	-198	-47	-213	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	9,312	8,661	8,995	8,760	7,197	7,001	7,524	7,049	7,539	6,794	7,141	6,604	6,516	5,549	6,193	4,384	5,161	4,287	4,375	4,154	4,829	4,242	3,534	3,890	3,668	3,622	3,697	3,628	2,901	2,927	3,027	2,842	2,464	2,392	2,417	1,724	1,867	1,716	1,846	2,142	1,008	734	820	518	527	1,112	1,141	688	690	711	735	803	628	705	627	812	1,148	767	860	1,111	2,993	0	0	565,877	0	0	0	641,940	0	250,288	254,677	197,377	0	0	0	0	0	0	0
Total Cash From Financing Activities	2,359	132	2,994	-5,517	1,982	-405	1,861	-10,497	2,507	-2,260	2,818	-10,707	6,453	-301	191,074	-7,834	1,354	20,293	1,696	-8,970	84,129	-430	3,414	13,063	-209	882	3,311	-1,224	654	124	26,127	790	1,914	5,140	5,086	1,821	4,417	-47	765	60,736	278	-507	-80	27,137	-254	-523	1	3,438	423	-585	678	4,332	-117	-407	-379	-539	-409	-624	6,179	-6,059	25	5,303	364	-411	-166	-1,265	16,428	-86	-86	-47	-83	-62	-66	44,662	14	5	9	80	18
Total Cash From Operating Activities	4,030	1,522	3,011	-4,079	46	-1,784	4,229	-24,632	301	-232	-4,533	-9,316	3,954	3,812	-11,548	-16,087	-3,529	-2,590	3,746	-13,438	985	5,213	-935	-9,434	1,528	131	-1,057	-9,546	761	1,076	-6,025	-10,931	-4,080	2,632	2,576	-8,970	-2,013	-1,214	-3,975	-14,398	-3,064	674	-258	-2,574	-191	-463	-198	-1,084	-1,127	-356	368	-872	1,534	317	1,092	-2,977	90	1,531	1,241	-2,443	-824	1,625	-2,682	-3,828	-326	-2,167	-2,664	-2,517	-2,517	-3,733	-2,450	-3,765	-4,004	-893	-941	-1,778	-1,425	-1,118	0
Total Cashflows From Investing Activities	0	0	-16,080	28,813	7,002	-3,239	20,521	19,722	1,077	-25,101	-16,059	63,587	-1,980	-58,737	-112,812	17,331	-2,601	-9,633	-930	11,017	-70,826	-601	-9,732	-4,245	1,065	-2,599	-431	5,726	6,813	-5,015	-20,873	6,996	-2,735	-9,041	-1,282	2,557	-9,436	-5,139	-23,462	7,414	-7,937	-5,379	614	-1,449	-11	477	-2,566	-697	2,724	-4,209	-4,515	69	0	0	653	0	0	0	3,233	5,627	0	0	3,586	4,266	0	0	2,167	1,275	115	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31
Cost Of Revenue	101,828	84,439	68,469	57,222	60,472	54,510	48,553	44,008	36,880	31,704	22,326	20,233	17,406	13,618	12,751	13,225	10,137	7,626	8,057	5,202	2,612	681	8
Depreciation And Amortization	14,813	11,710	-102,500	9,548	9,366	8,754	9,128	9,299	6,278	4,774	2,020	1,899	1,922	2,363	2,773	2,682	2,322	1,885	1,554	962	0	-	-
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Ebit	-31,095	-42,669	-47,295	-44,233	-33,122	-17,127	-24,979	-31,138	-26,720	-16,360	-10,891	-7,198	-4,715	-3,170	-845	-10,616	-13,148	-14,842	-10,888	-5,653	-3,357	-5,662	-3,140
Ebitda	-16,282	-30,959	-149,795	-34,685	-23,756	-8,373	-15,851	-21,839	-20,442	-11,586	-8,871	-5,299	-2,792	-806	1,928	-7,934	-10,826	-12,956	-9,333	-4,690	-3,357	-5,662	-3,140
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Extraordinary Items	0	0	0	0	0	1,157	-1,157	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Gross Profit	297,417	245,940	205,860	149,309	170,335	147,120	126,163	111,101	92,875	75,750	59,563	50,014	46,996	45,388	41,783	42,033	38,172	30,617	22,900	13,955	7,180	1,085	12
Income Before Tax	-29,847	-46,198	50,387	-48,041	-34,995	-20,911	-26,878	-33,298	-27,176	-16,178	-11,444	-7,484	-5,425	-3,773	-16,554	-10,225	-11,253	-12,683	-12,636	0	0	-	-
Income Tax Expense	591	268	188	114	199	226	14	40	36	33	18	50	31	19	-59	-57	-1,315	-1,052	47	3,799	7,108	9,031	3,596
Interest Expense	6,925	4,986	4,918	4,885	4,111	4,607	2,264	1,801	292	305	566	802	814	862	812	364	213	2,332	2,332	0	0	0	0
Interest Income	3,792	1,994	466	1,101	2,398	1,006	227	227	441	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Income	-30,438	-46,466	50,199	-48,155	-35,194	-21,137	-26,892	-33,338	-27,212	-16,211	-11,462	-7,534	-5,456	-3,792	-16,495	-10,167	-11,253	-13,717	-12,683	-9,452	-7,108	-9,031	-3,596
Net Income Applicable To Common Shares	0	-46,466	50,199	-48,155	-35,194	-21,137	-26,892	-33,338	-27,212	-16,211	-11,462	-7,534	-5,456	0	0	0	0	0	0	0	0	-	-
Net Income From Continuing Ops	-30,438	-46,466	50,199	-48,155	-35,194	-21,137	-26,892	-33,338	-27,212	-16,211	-11,462	-7,534	-5,456	0	0	0	0	0	0	0	0	-	-
Net Interest Income	-3,133	-2,992	-4,452	-3,784	-1,713	-3,601	-2,037	-1,574	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Non Operating Income Net Other	0	1,457	100	1,077	2,238	823	365	-359	-164	487	13	516	120	0	0	0	0	0	0	0	0	-	-
Non Recurring	0	0	82,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Operating Income	-31,095	-42,669	-47,295	-44,233	-33,122	-17,127	-24,979	-31,138	-26,720	-16,360	-10,891	-7,198	-4,731	-3,192	-15,512	-10,998	-12,568	-14,769	-10,803	-5,653	-3,357	-5,662	-3,140
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Other Operating Expenses	430,340	373,048	321,624	250,764	263,929	218,757	199,695	186,247	156,475	123,814	92,780	77,445	69,133	62,198	63,233	66,255	60,877	53,012	41,760	24,810	13,149	7,428	3,160
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Reconciled Depreciation	14,813	11,710	10,441	9,548	9,366	8,754	9,128	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Research Development	73,915	57,337	48,506	43,070	41,230	34,723	34,144	35,824	25,742	18,600	13,440	12,147	11,857	11,531	11,415	10,609	10,987	12,216	9,109	4,422	2,501	-	-
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Selling General Administrative	253,138	231,272	19,849	150,472	162,227	129,524	116,998	106,415	93,853	73,510	57,014	45,065	39,870	37,049	35,112	42,422	39,753	33,170	24,594	15,186	10,537	-	-
Tax Provision	591	268	188	114	199	226	14	40	36	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Total Operating Expenses	328,512	288,609	253,155	193,542	203,457	164,247	151,142	142,239	119,595	92,110	70,454	57,212	51,727	48,580	50,482	53,031	50,740	45,386	33,703	19,608	10,537	6,747	3,152
Total Other Income Expense Net	1,248	-3,529	97,682	-3,808	-1,873	-3,784	-1,899	-2,160	-456	182	-553	-286	104	259	-7,854	756	580	73	85	0	0	-	-
Total Revenue	399,245	330,379	274,329	206,531	230,807	201,630	174,716	155,109	129,755	107,454	81,889	70,247	64,402	59,006	54,534	55,257	48,309	38,243	30,957	19,157	9,792	1,766	20

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31
Cost Of Revenue	27,466	24,421	23,841	23,885	22,915	21,533	21,010	18,981	18,202	18,234	17,298	14,735	15,288	14,423	13,170	14,341	16,547	14,817	15,013	14,095	14,303	13,993	13,723	12,491	13,379	11,232	12,677	11,265	12,260	10,868	10,854	10,026	10,318	8,945	9,466	8,151	8,995	7,786	7,733	7,190	6,215	5,461	5,306	5,344	5,362	4,590	5,557	4,725	5,023	4,137	4,502	3,744	4,083	3,299	2,964	3,273	3,420	3,278	3,108	2,945	3,103	3,396	3,495	3,231	2,619	2,760	2,547	2,355	2,355	1,886	1,785	1,600	2,144	2,015	1,978	1,920	1,564	1,162	1,385	920	2,074
Depreciation And Amortization	4,179	4,111	3,580	2,943	2,919	2,987	2,937	2,890	2,833	2,828	2,658	2,122	2,167	2,479	2,458	2,444	2,383	2,393	2,362	2,228	2,223	2,128	2,204	2,199	2,271	2,267	2,286	2,304	2,441	2,358	2,289	2,211	2,066	1,519	1,382	1,311	1,303	1,254	1,132	1,085	555	508	496	461	379	467	574	531	430	414	548	530	588	539	606	631	626	602	604	582	517	742	686	738	660	616	544	520	520	480	458	427	493	428	334	299	298	257	-27	-	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	-8,668	-12,200	-7,724	-8,725	-7,055	-13,710	-16,597	-14,150	-15,335	-119,359	-14,988	-18,007	-19,670	-6,470	-6,993	-17,898	-15,326	-8,637	-3,839	-5,320	-4,830	-5,938	958	-9,430	-2,135	-9,114	-6,302	-9,606	-10,136	-6,251	-7,712	-9,460	-10,630	-6,127	-4,819	-5,144	-4,779	-803	-2,853	-7,925	-4,838	-3,122	-1,654	-1,800	-2,231	-2,526	-1,318	-1,496	-1,692	-1,186	-767	-1,070	-234	-826	-427	-1,684	-2,107	-4,424	-1,018	-1,099	-2,562	-1,960	-2,029	-4,065	-1,516	-2,983	-3,357	-4,455	-4,455	-3,391	-3,626	-3,370	-4,296	-3,852	-1,361	-1,411	-2,552	-1,734	-224	0	0
Ebitda	-4,489	-8,089	-4,144	-5,782	-4,136	-10,723	-13,660	-11,260	-12,502	-116,531	-12,330	-15,885	-17,503	-3,991	-4,535	-15,454	-12,943	-6,244	-1,477	-3,092	-2,607	-3,810	3,162	-7,231	136	-6,847	-4,016	-7,302	-7,695	-3,893	-5,423	-7,249	-8,564	-4,608	-3,437	-3,833	-3,476	451	-1,721	-6,840	-4,283	-2,614	-1,158	-1,339	-1,852	-2,059	-744	-965	-1,262	-771	-218	-540	354	-287	179	-1,053	-1,481	-3,821	-414	-518	-2,045	-1,218	-1,343	-3,327	-856	-2,367	-2,813	-3,934	-3,934	-2,911	-3,168	-2,943	-3,803	-3,424	-1,027	-1,112	-2,255	-1,477	-250	-	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,157	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	79,077	73,869	77,077	69,609	65,113	61,713	63,519	55,595	55,016	52,226	54,078	44,540	42,437	40,334	27,654	38,884	44,774	41,797	43,893	39,871	38,590	35,948	38,079	34,503	32,683	30,918	32,554	30,008	28,897	27,472	28,818	25,914	25,545	22,478	23,117	21,735	20,420	18,892	18,781	17,657	15,669	14,685	15,123	14,086	13,002	11,549	12,711	12,752	11,741	11,085	12,277	11,893	12,306	11,174	11,229	10,679	10,380	10,003	10,670	10,729	8,964	11,406	11,364	10,299	10,533	9,294	9,805	8,244	8,244	7,472	7,864	7,037	6,415	5,154	5,752	5,578	4,166	3,338	3,739	0	7,718
Income Before Tax	-9,416	-9,008	-5,025	-6,398	-4,049	-12,226	-14,796	-15,127	-13,688	97,146	-16,185	-16,886	-18,464	-4,953	-8,224	-16,400	-16,048	-9,287	-4,091	-5,569	-3,351	-7,184	-290	-10,086	-2,632	-7,220	-6,866	-10,160	-8,609	-6,781	-8,189	-9,719	-10,898	-6,135	-4,883	-5,260	-5,347	-462	-2,687	-7,682	-4,976	-2,744	-1,786	-1,938	-1,990	-2,556	-1,320	-1,617	-2,075	-1,144	-937	-1,269	31	-1,028	-764	-2,011	-2,403	-4,700	-1,454	-7,996	-3,217	-1,769,978	-1,592,616	-3,605,435	-11,253	-2,598	-2,787,090	-9,593	0	-3,155,598	-3,481	-3,090	-4,005	-3,955	0	0	0	-2,662	-197	0	0
Income Tax Expense	373	47	93	78	121	46	45	56	53	38	66	31	98	-4	12	8	48	75	10	66	79	51	48	48	-52	26	17	23	16	2	17	5	16	6	8	6	-3	4	5	27	4	4	5	5	30	11	6	3	5	12	9	5	19	1	0	-2	-13	-3	-11	-31	879	-48	-233	-291	-9,688	-311	-373	-6,364	0	235,613	-345	5	5	9	981	955	3,862	0	17	0	0
Interest Expense	1,798	-1,772	-1,719	-1,636	1,561	1,324	1,101	1,000	1,083	1,449	1,197	1,189	1,194	1,232	1,231	1,228	1,257	1,113	879	862	1,320	1,246	1,221	820	570	576	564	554	535	530	477	259	241	16	17	18	15	24	29	237	138	123	132	173	186	190	201	223	163	170	172	309	184	200	215	263	232	241	278	61	108	173,952	43,125	39,388	213	49	45,509	2,332	50	51,218	53,084	54,922	2,332	379,669	976	976	976	976	977	976	3,905
Interest Income	1,041	915	961	875	1,432	370	76	116	112	117	103	134	187	246	263	405	465	577	636	720	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	-9,789	-9,055	-5,118	-6,476	-4,170	-12,272	-14,841	-15,183	-13,741	97,108	-16,251	-16,917	-18,562	-4,949	-8,236	-16,408	-16,096	-9,362	-4,101	-5,635	-3,430	-7,235	-338	-10,134	-2,580	-7,246	-6,883	-10,183	-8,625	-6,783	-8,206	-9,724	-10,914	-6,141	-4,891	-5,266	-5,344	-466	-2,692	-7,709	-4,980	-2,748	-1,791	-1,943	-2,020	-2,567	-1,326	-1,620	-2,079	-1,156	-947	-1,273	12	-1,029	-765	-2,009	-2,390	-4,697	-1,443	-7,965	-3,199	-1,770	-1,593	-3,605	-1,565	-2,598	-2,787	-4,264	-4,264	-3,156	-3,208	-3,090	-4,010	-3,964	-2,343	-2,366	-6,415	-1,686	-197	0	0
Net Income Applicable To Common Shares	0	0	-5,118	-6,476	-4,170	-12,272	-14,841	-15,183	-13,741	97,108	-16,251	-16,917	-18,562	-4,949	-8,236	-16,408	-16,096	-9,362	-4,101	-5,635	-3,430	-7,235	-338	-10,134	-2,580	-7,246	-6,883	-10,183	-8,625	-6,783	-8,206	-9,724	-10,914	-6,141	-4,891	-5,266	-5,344	-466	-2,692	-7,709	-4,980	-2,748	-1,791	-1,943	-2,021	-2,567	-1,326	-1,620	0	-1,156	-947	0	11	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income From Continuing Ops	-9,789	-9,055	-5,118	-6,476	-4,170	-12,272	-14,841	-15,183	-13,741	97,108	-16,251	-16,917	-18,562	-4,949	-8,236	-16,408	-16,096	-9,362	-4,101	-5,635	-3,430	-7,235	-338	-10,134	-2,580	-7,246	-6,883	-10,183	-8,625	-6,783	-8,206	-9,724	-10,914	-6,141	-4,891	-5,266	-5,344	-466	-2,692	-7,709	-4,980	-2,748	-1,791	-1,943	-2,021	-2,567	-1,326	-1,620	0	-1,156	-947	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-757	-857	-758	-761	-129	-954	-1,025	-884	-971	-1,332	-1,094	-1,055	-1,007	-986	-968	-823	-792	-536	-243	-142	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Non Operating Income Net Other	0	0	838	1,020	1,648	-179	-35	23	-103	-74	89	188	233	270	292	282	535	463	627	613	576	110	-27	164	73	203	53	36	-379	35	26	-41	-27	8	-47	-98	-553	365	195	480	0	-7	-15	35	49	163	201	103	0	217	6	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Non Recurring	0	0	0	0	0	0	0	0	0	82,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	-8,668	-8,089	-4,144	-5,782	-4,136	-10,723	-13,660	-14,150	-12,502	98,669	-15,077	-15,885	-17,503	-3,991	-7,285	-15,454	-15,326	-8,637	-3,839	-5,320	-2,607	-6,048	958	-9,430	-2,135	-6,847	-6,355	-9,642	-7,695	-6,286	-7,738	-9,419	-10,630	-6,127	-4,819	-5,144	-4,779	-803	-2,853	-7,925	-4,838	-2,614	-1,639	-1,800	-1,852	-2,529	-1,320	-1,496	-1,695	-1,191	-771	-1,074	-238	-831	-433	-1,690	-2,114	-4,432	-1,033	-7,932	-3,458	-1,818	-1,825	-3,896	-1,627	-2,909	-3,160	-4,455	-4,455	-3,391	-3,554	-3,370	-4,296	-3,767	-1,361	-1,411	-2,552	-1,710	-224	0	0
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	115,211	106,379	105,062	99,276	92,164	93,969	98,189	88,726	85,720	79,391	86,453	75,160	75,228	58,748	48,109	68,679	76,647	65,251	62,745	59,286	55,500	55,989	50,844	56,424	48,197	48,997	51,586	50,915	48,852	44,626	47,410	45,359	46,493	37,550	37,402	35,030	34,194	27,481	29,367	32,772	26,722	22,760	22,068	21,230	20,216	18,668	19,588	18,972	18,458	16,413	17,551	16,711	16,627	15,304	14,625	15,642	15,915	17,713	14,811	14,794	15,525	16,620	16,684	17,426	14,779	14,963	15,512	15,054	15,054	12,749	13,203	12,006	12,855	10,937	9,092	8,908	8,283	6,210	5,348	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Reconciled Depreciation	4,179	4,111	3,580	2,943	2,919	2,987	2,937	2,867	2,833	2,828	2,658	2,122	2,167	2,479	2,458	2,444	2,383	2,393	2,362	2,228	2,223	2,128	2,204	2,199	2,271	2,267	2,286	2,304	2,441	2,358	2,289	2,211	2,066	1,519	1,382	1,311	1,303	1,254	1,132	1,085	555	508	496	461	379	467	574	479	430	414	548	530	588	539	606	631	626	602	604	582	517	742	686	738	660	616	544	520	520	480	458	427	493	428	334	299	298	257	-	-	0
Research Development	20,796	20,354	17,438	15,327	13,748	15,169	14,791	13,629	13,808	11,284	12,197	11,217	10,871	10,576	10,036	11,587	13,096	10,154	9,804	8,176	8,455	8,556	8,655	9,057	7,721	7,966	8,907	9,550	9,866	8,271	9,124	8,563	7,767	6,504	5,862	5,609	4,997	5,033	4,569	4,001	3,648	3,237	3,049	3,506	2,967	2,905	2,885	3,389	2,964	3,069	2,879	2,944	3,513	2,937	2,422	2,658	2,779	2,581	3,138	2,917	2,573	3,009	2,594	2,433	2,532	2,398	2,928	3,205	3,205	3,172	2,928	2,910	2,788	2,613	1,971	1,737	1,504	1,167	768	984	2,501
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Selling General Administrative	67,687	61,604	63,783	60,064	55,501	57,267	62,388	56,116	53,710	140,027	56,958	49,208	49,069	33,749	24,903	42,751	47,004	40,280	37,928	37,015	32,742	33,440	28,466	34,876	27,097	29,799	30,002	30,100	26,726	25,487	27,432	26,770	28,408	22,101	22,074	21,270	20,202	14,662	17,065	21,581	16,859	14,062	13,713	12,380	11,887	11,173	11,146	10,859	10,471	9,207	10,170	10,023	9,030	9,068	9,239	9,712	9,527	8,088	8,565	8,932	9,849	10,215	10,595	11,762	9,627	9,805	10,037	9,494	9,494	7,691	8,489	7,496	7,924	6,309	5,143	5,252	6,701	3,881	3,196	3,896	10,537
Tax Provision	373	47	93	78	121	46	45	56	53	38	66	31	98	-4	12	8	48	75	10	66	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Total Operating Expenses	87,745	81,958	81,221	75,391	69,249	72,436	77,179	69,745	67,518	61,157	69,155	60,425	59,940	44,325	34,939	54,338	60,100	50,434	47,732	45,191	41,197	41,996	37,121	43,933	34,818	37,765	38,909	39,650	36,592	33,758	36,556	35,333	36,175	28,605	27,936	26,879	25,199	19,695	21,634	25,582	20,507	17,299	16,762	15,886	14,854	14,078	14,031	14,248	13,435	12,276	13,049	12,967	12,544	12,005	11,661	12,369	12,494	14,435	11,704	11,849	12,422	13,224	13,189	14,196	12,160	12,203	12,965	12,699	12,699	10,864	11,417	10,407	10,712	8,921	7,114	6,989	6,718	5,048	3,963	0	0
Total Other Income Expense Net	-748	-919	-881	-616	87	-1,503	-1,136	-977	-1,186	106,077	-14	-1,001	-961	-962	29	-946	-722	-650	-252	-249	-744	-41	-1,248	-656	-497	-373	5	-18	-914	-32	-34	-80	-268	-8	-64	-116	-568	341	166	243	-138	-130	-17	-138	-138	160	199	101	-219	212	2	110	448	-2	-123	-64	-64	-35	-158	-6,836	241	142	203	169	-111	74	197	-9,058	0	235,849	73	280	292	85	0	0	0	24	27	0	0
Total Revenue	106,543	98,290	100,918	93,494	88,028	83,246	84,529	74,576	73,218	70,460	71,376	59,275	57,725	54,757	40,824	53,225	61,321	56,614	58,906	53,966	52,893	49,941	51,802	46,994	46,062	42,150	45,231	41,273	41,157	38,340	39,672	35,940	35,863	31,423	32,583	29,886	29,415	26,678	26,514	24,847	21,884	20,146	20,429	19,430	18,364	16,139	18,268	17,476	16,764	15,222	16,780	15,637	16,389	14,473	14,192	13,952	13,800	13,281	13,778	13,674	12,066	14,802	14,859	13,530	13,152	12,054	12,352	10,599	10,599	9,358	9,649	8,637	8,559	7,170	7,730	7,498	5,730	4,500	5,125	3,802	9,792

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	399,245
Cost of Revenue	-101,828
Gross Profit	297,417	297,417

Operating Income (+$)
Gross Profit	297,417
Operating Expense	-328,512
Operating Income	-31,095	-31,095

Operating Expense (+$)
Research Development	73,915
Selling General Administrative	253,138
Selling And Marketing Expenses	0
Operating Expense	328,512	327,053

Net Interest Income (+$)
Interest Income	3,792
Interest Expense	-6,925
Other Finance Cost	-0
Net Interest Income	-3,133

Pretax Income (+$)
Operating Income	-31,095
Net Interest Income	-3,133
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	-29,847	-32,343 EBIT - interestExpense = -38,020 -29,847 -23,513
Interest Expense	6,925
Earnings Before Interest and Taxes (EBIT)	-31,095	-22,922
Earnings Before Interest and Taxes (EBITDA)	-16,282

After tax Income (+$)
Income Before Tax	-29,847
Tax Provision	-591
Net Income From Continuing Ops	-30,438	-30,438
Net Income	-30,438
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	430,340
Total Other Income/Expenses Net	1,248	3,133

Technical Analysis of Atricure
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Atricure. The general trend of Atricure is BEARISH with 100.0% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Atricure's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (-100.0%)		Bearish trend (100.0%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of AtriCure Inc.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 30.74 < 39.05 < 43.00.

The bearish price targets are: .

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AtriCure Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of AtriCure Inc. The current mas is .

The long score for the Moving Averages is 0/14.
The longshort score for the Moving Averages is -14/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 < MA 50: The MA 20 is lower than the MA 50. -1
MA 20 < MA 100: The MA 20 is lower than the MA 100. -1
MA 20 < MA 200: The MA 20 is lower than the MA 200. -1
MA 50 trending down: The MA 50 is trending down. -1
Close < MA 50: The price is below the MA 50. -1
MA 50 < MA 100: The MA 50 is lower than the MA 100. -1
MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
MA 100 trending down: The MA 100 is trending down. -1
Close < MA 100: The price is below the MA 100. -1
MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
MA 200 trending down: The MA 200 is trending down. -1
Close < MA 200: The price is below the MA 200. -1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

AtriCure Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of AtriCure Inc. The current macd is -2.15874233.

The long score for the Moving Average Convergence/Divergence (MACD) is 3/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 2/(-4 +4).

MACD line > signal line: The MACD line is above the signal line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Atricure price going up in the near term. +2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Atricure. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Atricure price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

AtriCure Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of AtriCure Inc. The current adx is 41.67.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -4/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Atricure shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX > 25 && ADX trending up: The ADX is above 25 and indicates a strong bearish trend. The ADX is trending up, so the bearish trend is strengthening.

AtriCure Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of AtriCure Inc. The current sar is 24.17.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of AtriCure Inc. The current rsi is 27.61. The current phase is Oversold in bear market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is 0/(-13 +13).

Oversold in bear market: Short-term excessive selling, potential for relief rally. Be cautious, consider taking short-term long positions. +1
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

AtriCure Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of AtriCure Inc. The current phase is Oversold in bear market.

The long score for the Stochastic Oscillator is 0/6.
The longshort score for the Stochastic Oscillator is -6/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH < 20: The STOCH %K is below 20 and oversold. -2
STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Atricure price going down in the near term. -2
Trending down: The STOCH %K is trending down. -1

AtriCure Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of AtriCure Inc. The current cci is -91.01410267.

AtriCure Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of AtriCure Inc. The current cmo is -47.99232141.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

AtriCure Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of AtriCure Inc. The current willr is -90.28776978.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of AtriCure Inc.

AtriCure Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of AtriCure Inc. The current atr is 1.18733364.

AtriCure Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of AtriCure Inc. The current obv is -9,334,463.

AtriCure Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of AtriCure Inc. The current mfi is 35.68.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

AtriCure Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for AtriCure Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-06	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-07	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2023-12-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2023-12-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-14	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-15	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-19	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-22	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-26	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2023-12-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-29	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-03	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-04	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-08	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-10	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-11	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-17	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-18	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-23	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-01-24	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-26	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-01-29	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-30	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-31	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-02	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-02-08	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-02-12	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-13	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-15	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-16	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-22	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-27	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-29	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-12	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-13	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-03-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-20	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-03-25	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-03-26	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-28	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-02	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-04	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-08	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
2024-04-10	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-11	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-15	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-04-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-23	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-24	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-04-25	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of AtriCure Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	27.612
Ma 20	Greater than	Ma 50	25.132
Ma 50	Greater than	Ma 100	30.094
Ma 100	Greater than	Ma 200	32.242
Open	Greater than	Close	22.620
Total			1/5 (20.0%)

Create your own Symbol Scanner

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AtriCure Inc Buy, Hold or Sell?

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Quick analysis of Atricure (30 sec.)

What can you expect buying and holding a share of Atricure? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Atricure (5 min.)

$22.61

$9.80

$-6.90 - $-2.94

$2.90 - $6.86

2. Growth of Atricure (5 min.)

Is Atricure growing?

How much money is Atricure making?

How much money comes from the company's main activities?

3. Financial Health of Atricure (5 min.)

4. Comparing to competitors in the Medical Instruments & Supplies industry (5 min.)

Industry Rankings (Medical Instruments & Supplies)

What can you expect buying and holding a share of Atricure? (5 min.)

What can you expect buying and holding a share of Atricure?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Atricure

About AtriCure Inc

Financial Health

Valuation

1.1. Profitability of AtriCure Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Medical Instruments & Supplies)

1.1.2. Return on Assets

Trends

Compared to industry (Medical Instruments & Supplies)

1.1.3. Return on Equity

Trends

Compared to industry (Medical Instruments & Supplies)

1.2. Operating Efficiency of AtriCure Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Medical Instruments & Supplies)

1.2.2. Operating Ratio

Trends

Compared to industry (Medical Instruments & Supplies)

1.3. Liquidity of AtriCure Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Medical Instruments & Supplies)

1.3.2. Quick Ratio

Trends

Compared to industry (Medical Instruments & Supplies)

1.4. Solvency of AtriCure Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Medical Instruments & Supplies)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Medical Instruments & Supplies)

2. Market Valuation of AtriCure Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Medical Instruments & Supplies)

AtriCure Inc
Buy, Hold or Sell?