AXON ENTERPRISE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) |
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| THREE MONTHS ENDED | |||||||
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| 31 MAR 2024 |
| 31 DEC 2023 |
| 31 MAR 2023 | |||
Net sales from products |
| $ | 272,048 |
| $ | 258,405 |
| $ | 219,389 |
Net sales from services |
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| 188,688 |
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| 173,737 |
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| 123,654 |
Net sales |
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| 460,736 |
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| 432,142 |
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| 343,043 |
Cost of product sales |
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| 151,698 |
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| 125,664 |
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| 107,584 |
Cost of service sales |
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| 48,992 |
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| 42,591 |
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| 31,357 |
Cost of sales |
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| 200,690 |
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| 168,255 |
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| 138,941 |
Gross margin |
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| 260,046 |
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| 263,887 |
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| 204,102 |
Operating expenses: |
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Sales, general and administrative |
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| 152,669 |
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| 137,106 |
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| 116,567 |
Research and development |
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| 91,097 |
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| 83,972 |
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| 70,927 |
Total operating expenses |
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| 243,766 |
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| 221,078 |
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| 187,494 |
| Income from operations |
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| 16,280 |
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| 42,809 |
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| 16,608 |
| Interest Income, net |
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| 10,374 |
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| 12,325 |
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| 9,666 |
| Other income, net |
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| 139,066 |
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| 668 |
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| 15,610 |
| Income before provision for income taxes |
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| 165,720 |
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| 55,802 |
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| 41,884 |
| Provision for (benefit from) income taxes |
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| 32,502 |
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| (1,469) |
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| (3,255) |
| Net income |
| $ | 133,218 |
| $ | 57,271 |
| $ | 45,139 |
| Net income per common and common equivalent shares: |
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| Basic |
| $ | 1.77 |
| $ | 0.76 |
| $ | 0.62 |
| Diluted |
| $ | 1.73 |
| $ | 0.75 |
| $ | 0.61 |
| Weighted average number of common and common equivalent shares outstanding: |
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| Basic |
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| 75,355 |
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| 75,060 |
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| 72,638 |
| Diluted |
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| 77,132 |
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| 76,178 |
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| 73,880 |
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Axon reports Q1 2024 revenue of $461 million, up 34% year over year, raises outlook
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