AXON ENTERPRISE Reports Record Q2 FY2023 Revenue Growth of 31.2%
August 20, 2023
☀️Earnings Overview
AXON ENTERPRISE ($NASDAQ:AXON) announced their financial earnings for the second quarter of FY2023 on August 8 2023. Total revenue for the quarter was USD 374.6 million, a 31.2% increase from the same period in the previous year. Unfortunately, net income for the quarter experienced a 75.6% decrease from the same time last year, amounting to USD 12.4 million.
Analysis
GoodWhale’s analysis of AXON ENTERPRISE‘s financials reveals that the company has been classified as a ‘gorilla’, or a company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. Therefore, AXON ENTERPRISE is an attractive option for investors who are looking to capitalize on the strong performance of a highly competitive enterprise. Additionally, AXON ENTERPRISE has a high health score of 9/10 with regard to its cashflows and debt, meaning that it is capable of safely riding out any crisis without the risk of bankruptcy. Furthermore, AXON ENTERPRISE has strong indicators in asset, growth, and profitability, only bearing a weak indicator in dividend. All these factors combined make AXON ENTERPRISE an attractive option for investors who are looking for a safe and lucrative long-term investment. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Axon Enterprise. More…
| Total Revenues | Net Income | Net Margin |
| 1.37k | 98.86 | 7.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Axon Enterprise. More…
| Operations | Investing | Financing |
| 158.35 | -550.92 | 652.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Axon Enterprise. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.08k | 1.63k | 19.33 |
Key Ratios Snapshot
Some of the financial key ratios for Axon Enterprise are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 32.2% | -11.1% | 8.2% |
| FCF Margin | ROE | ROA |
| 8.1% | 4.9% | 2.3% |
Peers
Its competitors include Shi Corp, Ultra Electronics Holdings PLC, and Shenzhen TVT Digital Technology Co Ltd.
– Shi Corp ($OTCPK:SHCC)
Shi Corp is a publicly traded company with a market capitalization of 1.39k as of 2022. The company has a Return on Equity of -0.64%. Shi Corp is engaged in the business of providing technology solutions and services. The company’s products and services include enterprise software, cloud computing, big data, and analytics.
– Ultra Electronics Holdings PLC ($SZSE:002835)
Shenzhen TVT Digital Technology Co Ltd has a market cap of 2.64B as of 2022, a Return on Equity of 8.41%. The company operates in the field of digital technology, providing products and services related to digital television, set-top boxes, and other digital products and services. It is headquartered in Shenzhen, China.
Summary
AXON ENTERPRISE reported significant financial growth in the second quarter of its FY2023, with total revenue increasing 31.2% year over year. However, net income was significantly lower at a decrease of 75.6%. Investors should take a closer look at the earnings report to determine the cause of this discrepancy and assess the sustainability of AXON’s growth before investing. Although revenue growth is a positive sign, it is important to note that profitability is a key factor in any investment decision.
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