TASER |
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| THREE MONTHS ENDED |
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| 31 MAR 2024 |
| 31 DEC 2023 |
| 31 MAR 2023 | ||||||
Net sales |
| $ | 178,748 |
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| $ | 161,343 |
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| $ | 134,282 |
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Cost of sales |
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| 88,058 |
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| 69,163 |
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| 50,763 |
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Gross margin |
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| 90,690 |
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| 92,180 |
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| 83,519 |
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Stock-based compensation expense |
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| 19,781 |
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| 713 |
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| 310 |
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Adjusted gross margin |
| $ | 110,471 |
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| $ | 92,893 |
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| $ | 83,829 |
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Gross margin |
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| 50.7 | % |
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| 57.1 | % |
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| 62.2 | % |
Adjusted gross margin |
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| 61.8 | % |
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| 57.6 | % |
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| 62.4 | % |
AXON ENTERPRISE, INC. CONSOLIDATED BALANCE SHEETS (in thousands) |
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| 31 MAR 2024 |
| 31 DEC 2023 | ||
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| (Unaudited) |
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| ASSETS |
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| Current Assets: |
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| Cash and cash equivalents |
| $ | 403,870 |
| $ | 598,545 |
| Marketable securities |
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| 99,720 |
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| 77,940 |
| Short-term investments |
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| 560,186 |
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| 644,054 |
| Accounts and notes receivable, net |
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| 476,764 |
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| 417,690 |
| Contract assets, net |
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| 266,172 |
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| 275,779 |
| Inventory |
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| 271,318 |
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| 269,855 |
| Prepaid expenses and other current assets |
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| 123,677 |
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| 112,786 |
| Total current assets |
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| 2,201,707 |
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| 2,396,649 |
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| Property and equipment, net |
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| 209,166 |
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| 200,533 |
| Deferred tax assets, net |
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| 208,861 |
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| 229,513 |
| Intangible assets, net |
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| 89,419 |
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| 19,539 |
| Goodwill |
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| 308,470 |
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| 57,945 |
| Long-term notes receivable, net |
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| 2,397 |
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| 2,588 |
| Long-term contract assets, net |
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| 88,209 |
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| 77,710 |
| Strategic investments |
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| 295,497 |
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| 231,730 |
| Other long-term assets |
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| 212,470 |
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| 220,638 |
| Total assets |
| $ | 3,616,196 |
| $ | 3,436,845 |
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| LIABILITIES AND STOCKHOLDERS' EQUITY |
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| Current Liabilities: |
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| Accounts payable |
| $ | 82,075 |
| $ | 88,326 |
| Accrued liabilities |
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| 127,415 |
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| 188,230 |
| Current portion of deferred revenue |
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| 516,404 |
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| 491,691 |
| Customer deposits |
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| 21,979 |
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| 21,935 |
| Other current liabilities |
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| 9,601 |
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| 9,787 |
| Total current liabilities |
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| 757,474 |
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| 799,969 |
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| Deferred revenue, net of current portion |
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| 293,878 |
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| 281,852 |
| Liability for unrecognized tax benefits |
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| 18,610 |
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| 18,049 |
| Long-term deferred compensation |
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| 14,700 |
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| 11,342 |
| Long-term lease liabilities |
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| 32,546 |
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| 33,550 |
| Convertible notes, net |
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| 677,895 |
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| 677,113 |
| Other long-term liabilities |
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| 3,078 |
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| 2,936 |
| Total liabilities |
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| 1,798,181 |
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| 1,824,811 |
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| Stockholders' Equity: |
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| Preferred stock |
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| — |
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| — |
| Common stock |
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| 1 |
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| 1 |
| Additional paid-in capital |
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| 1,421,080 |
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| 1,347,410 |
| Treasury stock |
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| (155,947) |
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| (155,947) |
| Retained earnings |
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| 564,467 |
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| 431,249 |
| Accumulated other comprehensive loss |
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| (11,586) |
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| (10,679) |
| Total stockholders' equity |
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| 1,818,015 |
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| 1,612,034 |
| Total liabilities and stockholders' equity |
| $ | 3,616,196 |
| $ | 3,436,845 |
