Loading...
Docoh

Axon Enterprise (AXON)

Axon is a network of devices, apps and people that helps public safety personnel become smarter and safer. With a mission of protecting life, its technologies give customers the confidence, focus and time they need to keep their communities safe. Its products impact every aspect of a public safety officer's day-to-day experience with the goal of helping everyone get home safe.

Company profile

Ticker
AXON
Exchange
Website
CEO
Patrick Smith
Employees
Incorporated
Location
Fiscal year end
Former names
TASER INTERNATIONAL INC
SEC CIK
Subsidiaries
Axon Public Safety B.V. • Axon Public Safety Southeast Asia LLC • Axon Public Safety UK Limited • TASER Holland B.V. ...
IRS number
860741227

AXON stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 214.69M 214.69M 214.69M 214.69M 214.69M 214.69M
Cash burn (monthly) 57.92M 4.32M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 176.69M 13.17M n/a n/a n/a n/a
Cash remaining 38M 201.52M n/a n/a n/a n/a
Runway (months of cash) 0.7 46.7 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
27 Sep 22 Jeffrey C Kunins Common Stock Sell Dispose S No Yes 112.9375 400 45.18K 199,561
27 Sep 22 Jeffrey C Kunins Common Stock Sell Dispose S No Yes 112.0967 1,529 171.4K 199,961
26 Sep 22 Jeffrey C Kunins Common Stock Sell Dispose S No Yes 112.422 1,271 142.89K 201,490
26 Sep 22 Brittany Bagley Common Stock Grant Acquire A No No 0 28,378 0 94,592
26 Sep 22 Brittany Bagley Common Stock Grant Acquire A No No 0 66,214 0 66,214
1 Sep 22 James Zito Common Stock Sell Dispose S No No 115.133 2,032 233.95K 35,330
8 Jun 22 Kroll Mark W Common Stock Sell Dispose S No No 102.816 3,159 324.8K 13,691
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

?
Risks
  • We are materially dependent on acceptance of our products by law enforcement markets, throughout the world. If law enforcement agencies do not continue to purchase and use our products, our revenues will be adversely affected.
  • We substantially depend on sales of our TASER CEDs, and if these products do not continue to be widely accepted, our growth prospects will be diminished.
  • If we are unable to design, introduce, sell and deploy new products or new product features successfully, our business and financial results could be adversely affected.
  • We face risks associated with rapid technological change and new competing products.
  • Our future success is dependent on our ability to expand sales through direct sales and distributors and our inability to increase direct sales or recruit new distributors would negatively affect our sales.
  • Acquisitions, joint ventures, and other strategic investments may have an adverse effect on our business.
  • We are highly dependent on the services of Patrick W. Smith, our Chief Executive Officer.
  • Catastrophic events may disrupt our business.
  • Higher costs or unavailability of materials could adversely affect our financial results.
  • To the extent demand for our products increases, our future success will be dependent upon our ability to manage our growth and to increase manufacturing production capacity, which may be accomplished by the implementation of customized manufacturing automation equipment.
  • Delays in product development schedules may adversely affect our revenues and cash flows.
  • We expend significant resources in anticipation of a sale due to our lengthy sales cycle and may receive no revenue in return.
  • Changes in civil forfeiture laws may affect our customers’ ability to purchase our products.
  • If our security measures or those of our third-party cloud storage providers are breached and unauthorized access is obtained to customers’ data or our data, our network, data centers and service may be perceived as not being secure, customers may curtail or stop using our service and we may incur significant legal and financial exposure and liabilities.
  • Defects or disruptions in our services could impact demand for our services and subject us to substantial liability.
  • Defects in our products could reduce demand for our products and result in a loss of sales, delay in market acceptance and damage to our reputation.
  • Our international operations expose us to additional risks that could harm our business, operating results, and financial condition.
  • We depend on our ability to attract and retain our key management, sales and technical personnel.
  • An increasing percentage of our revenue is derived from subscription billing arrangements which may result in delayed cash collections and may increase customer credit risk on receivables and contract assets.
  • We may experience a decline in gross margins due to a shift in product sales from CEDs to software and sensors products and services which may continue to carry a lower gross margin.
  • SaaS revenue for Axon Evidence is recognized over the terms of the contracts, which may be several years, and, as such, trends in new business may not be immediately reflected in our operating results.
  • Most of our end-user customers are subject to budgetary and political constraints that may delay or prevent sales.
  • Due to municipal government funding rules, certain of our contracts are subject to appropriation, termination for convenience, or similar cancellation clauses, which could allow our customers to cancel or not exercise options to renew contracts in the future.
  • We maintain most of our cash balances, some of which are not insured, at four depository institutions.
  • Stock compensation expense may have a material, unpredictable impact on our results of operations.
  • Our financial performance is subject to risks associated with changes in the value of the U.S. dollar versus local currencies.
  • Unanticipated changes in our effective tax rate and additional tax liabilities may impact our operating results.
  • We may face personal injury, wrongful death and other liability claims that harm our reputation and adversely affect our sales and financial condition.
  • Other litigation may subject us to significant litigation costs and judgments and divert management attention from our business.
  • We have been, and may be in the future, subject to intellectual property infringement and other claims, which could incur substantial litigation costs, result in significant damage awards, inhibit our use of certain technologies, and divert management attention from our business.
  • If we are unable to protect our intellectual property, the value of our brands and products may decrease and we may lose our competitive market advantage.
  • Internationally, we can enforce patent rights only in the jurisdictions in which our patent applications have been granted.
  • A variety of new and existing laws and/or interpretations could materially and adversely affect our business.
Management Discussion
  • Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Axon is the global leader in connected public safety technologies. We are a mission-driven company whose overarching goal is to protect life. Our vision is a world where bullets are obsolete, where social conflict is dramatically reduced, where everyone has access to a fair and effective justice system and where racial equity, diversity and inclusion is centered in all of our work. Axon is also a leading provider of body cameras for US public safety, providing more transparency and accountability to communities than ever before.
  • Our revenues for the three months ended June 30, 2022 were $285.6 million, an increase of $66.8 million, or 30.5%, from the comparable period in the prior year. We had income from operations of $21.4 million compared to a loss from operations of $93.7 million for the same period in the prior year. Gross margin dollars increased $36.0 million but decreased as a percentage of revenue compared to the three months ended June 30, 2021, reflecting higher freight and labor costs. Operating expenses decreased $79.1 million, reflecting a decrease of $115.6 million in stock-based compensation expense primarily related to the CEO Performance Award and XSPP, partially offset by an increase in salaries, benefits, and bonus expense, and increases in sales, marketing, and professional and consulting expense.  Net income of $51.0 million included net unrealized gains of $59.7 million related to observable price changes for our existing investments and related warrants and an unrealized loss of $11.7 million on marketable securities related to our investment in CLBT, compared to net loss of $47.1 million for the comparable period in the prior year.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: APAC, centered, Chase, competitor, conference, conform, conforming, declassification, dedicating, Dedrone, deny, director, dramatically, DroneSense, expanding, Flex, footprint, foregoing, hereto, hundred, infrastructure, insolvent, interfere, JPMorgan, land, leader, London, overarching, Overnight, plat, racial, reimbursement, senior, text, user, vision
Removed: acceleration, Africa, ahead, allocated, ascribed, aspect, budgeting, bundled, comfortable, commensurate, confidence, consist, contrast, defending, defer, duration, East, EMEA, emergency, employer, equaled, Europe, fashion, flow, front, home, improved, incur, installment, lump, maintaining, match, matter, Middle, occurrence, participant, participate, partnership, people, postpone, presently, principal, produce, protecting, receive, regularly, remedial, renew, retirement, revisit, Safariland, safe, safer, salary, select, selected, separation, shipment, smarter, sum, taxation, termination, traditional, unforeseeable, upfront, wide