SEGMENT AND GEOGRAPHIC INFORMATION
The Company evaluates reporting segments in accordance with FASB ASC 280, “Segment Reporting”. The Company develops, manufactures and sells devices designed primarily for the surgical ablation of cardiac tissue, systems designed for the exclusion of the left atrial appendage and devices designed to block pain by temporarily ablating peripheral nerves. These devices are developed and marketed to a broad base of medical centers globally. Management considers all such sales to be part of a single operating segment. Revenue attributed to customer geographic locations is as follows:
| | | | | | | | | | | | | | | | | |
| | 2021 | | 2020 | | 2019 |
| United States | $ | 229,131 | | $ | 169,244 | | $ | 185,829 |
| Europe | 27,931 | | 23,217 | | 27,929 |
| Asia | 16,077 | | 13,118 | | 15,976 |
| Other international | 1,190 | | 952 | | 1,073 |
| Total international | 45,198 | | 37,287 | | 44,978 |
| Total revenue | $ | 274,329 | | $ | 206,531 | | $ | 230,807 |
United States revenue by product type is as follows:
| | | | | | | | | | | | | | | | | |
| | 2021 | | 2020 | | 2019 |
| Open ablation | $ | 93,895 | | $ | 75,399 | | $ | 80,205 |
| Minimally invasive ablation | 39,380 | | 25,647 | | 34,842 |
| Appendage management | 94,568 | | 66,981 | | 68,166 |
| Total ablation and appendage management | 227,843 | | 168,027 | | 183,213 |
| Valve tools | 1,288 | | 1,217 | | 2,616 |
| Total United States | $ | 229,131 | | $ | 169,244 | | $ | 185,829 |
International revenue by product type is as follows:
| | | | | | | | | | | | | | | | | |
| | 2021 | | 2020 | | 2019 |
| Open ablation | $ | 23,206 | | $ | 18,655 | | $ | 24,945 |
| Minimally invasive ablation | 6,409 | | 6,171 | | 8,349 |
| Appendage management | 15,534 | | 12,353 | | 11,476 |
| Total ablation and appendage management | 45,149 | | 37,179 | | 44,770 |
| Valve tools | 49 | | 108 | | 208 |
| Total international | $ | 45,198 | | $ | 37,287 | | $ | 44,978 |
The Company’s long-lived assets are located in the United States, except for $1,399 as of December 31, 2021 and $1,693 as of December 31, 2020 located primarily in Europe.
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.