AXON ENTERPRISE Reports Second Quarter Earnings Results for FY2023
August 21, 2023
🌥️Earnings Overview
AXON ENTERPRISE ($NASDAQ:AXON) reported their fiscal year 2023 second quarter earnings (ending June 30, 2023) on August 8, 2023. Total revenue for this period was USD 374.6 million, representing a 31.2% increase year over year; meanwhile, net income saw a decrease of 75.6%, amounting to USD 12.4 million.
Price History
On Tuesday, AXON ENTERPRISE reported their second quarter earnings results for the fiscal year 2023. The stock opened at $179.2 and closed at $175.7, down by 2.2% from the prior closing price of 179.7. This is the first quarter that AXON ENTERPRISE has experienced a decrease in their stock price since the beginning of the fiscal year. Despite the decrease in earnings, AXON ENTERPRISE still remains committed to providing their shareholders with long-term value.
The company is looking to invest in new technologies and expand into new markets to remain competitive in the ever-changing business landscape. They are confident that their efforts will ensure sustained growth over time and are optimistic about their future prospects. Live Quote…
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% |
Analysis
At GoodWhale, we have done a thorough analysis of AXON ENTERPRISE‘s fundamentals. Based on our Risk Rating, we found that AXON ENTERPRISE is a medium risk investment in terms of both its financial and business aspects. We have detected four risk warnings in the income sheet, balance sheet, non-financial and financial journals. If you want to learn more, register with us at goodwhale.com and you can take a look at our detailed report. Our Risk Rating system is designed to provide investors with an insight into the risks associated with a specific investment. With our analysis of AXON ENTERPRISE’s fundamentals, we have identified various risk factors that could potentially have an impact on the business’s financials and performance. We believe that having a better understanding of the risk factors associated with any given investment is fundamental to making an informed decision. That’s why we strive to provide investors with the best possible insight into the risks associated with different investments. At GoodWhale, we are committed to providing our clients with the most comprehensive risk analysis of any company’s fundamentals. All of our reports are prepared by a team of highly experienced analysts who use advanced data analysis techniques to uncover any potential risks. So if you want to make an informed investment decision, register with us at goodwhale.com and take a look at our detailed report on AXON ENTERPRISE’s fundamentals. More…
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 had a strong quarter with revenue increasing by 31.2% year over year to USD 374.6 million. Despite this strong growth, net income unfortunately decreased by 75.6% compared to the same time period last year. This should be concerning for investors in AXON ENTERPRISE going forward, as it may suggest that their current growth strategies are not generating enough profit to sustain growth. Investors should continue to monitor the company closely and consider diversifying their portfolio in order to protect their investments.
