Axon Enterprise, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Axon Enterprise, Inc. has submitted its 2023 Form 10-K detailing its financial performance and operations.</b>

AI Summary

AXON ENTERPRISE, INC. (AXON) filed a Annual Report (10-K) with the SEC on February 27, 2024. Axon Enterprise, Inc. filed its annual report for the fiscal year ending December 31, 2023. The filing is a Form 10-K, a comprehensive report required by the SEC for public companies. The company's principal executive offices are located at 17800 N. 85th St., Scottsdale, AZ 85255. Axon Enterprise, Inc. was formerly known as TASER INTERNATIONAL INC, with a name change effective February 12, 2001. The report covers the period from January 1, 2023, to December 31, 2023.

Why It Matters

For investors and stakeholders tracking AXON ENTERPRISE, INC., this filing contains several important signals. This 10-K filing provides a detailed overview of Axon's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors and analysts to assess the company's performance and future outlook. As a key document for public companies, this filing offers insights into Axon's compliance with regulatory requirements and its commitment to transparency regarding its business activities and financial standing.

Risk Assessment

Risk Level: medium — AXON ENTERPRISE, INC. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for a public company, but the specific financial details and risk factors within the report will determine the actual risk level for investors.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Axon's performance and potential challenges in 2023.

Financial Highlights

revenue

75301424

revenue Growth

7.1474581

Key Numbers

• 20231231 — Report Period End Date (Conformed Period of Report)
• 20240227 — Filing Date (Filed as of Date)
• 132 — Public Document Count (Public Document Count)
• 3480 — Standard Industrial Classification (SIC Code for Ordnance & Accessories)

Key Players & Entities

• AXON ENTERPRISE, INC. (company) — Filer name
• 0001069183 (company) — Central Index Key
• 17800 N. 85TH ST. (company) — Business Address
• SCOTTSDALE (company) — Business Address City
• AZ (company) — Business Address State
• 85255 (company) — Business Address Zip
• TASER INTERNATIONAL INC (company) — Former Company Name
• 20010212 (company) — Date of Name Change

FAQ

Industry Context

Axon Enterprise operates in the ordnance and accessories sector, specifically focusing on non-vehicle related products like tasers and related technology for law enforcement and public safety.

Regulatory Implications

The filing is a standard Form 10-K, adhering to the reporting requirements of the Securities Exchange Act of 1934, ensuring transparency for investors.

What Investors Should Do

1. Analyze the revenue figures and growth percentages for the fiscal year 2023.
2. Examine the executive compensation details, if available in the full filing.
3. Review the risk factors section to understand potential challenges facing Axon Enterprise.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-27: Filing Date — Date the 10-K was officially filed with the SEC.
• 2001-02-12: Company Name Change — Date Axon Enterprise, Inc. changed its name from TASER INTERNATIONAL INC.

Year-Over-Year Comparison

This is the initial filing for the fiscal year 2023. Previous filings would provide comparative data.

Key Financial Figures

• $0.00001 — nge on which registered Common Stock, $0.00001 par value per share AXON The NASDAQ
• $697 million — annual recurring revenue, which totaled $697 million 1 as of December 31, 2023. We have many

Filing Documents

• axon-20231231x10k.htm (10-K) — 4111KB
• axon-20231231xex4d2.htm (EX-4.2) — 29KB
• axon-20231231xex21d1.htm (EX-21.1) — 6KB
• axon-20231231xex23d1.htm (EX-23.1) — 3KB
• axon-20231231xex31d1.htm (EX-31.1) — 12KB
• axon-20231231xex31d2.htm (EX-31.2) — 13KB
• axon-20231231xex32.htm (EX-32) — 13KB
• axon-20231231xex97.htm (EX-97) — 47KB
• axon-20231231x10k003.jpg (GRAPHIC) — 50KB
• 0001069183-24-000006.txt (&nbsp;) — 18866KB
• axon-20231231.xsd (EX-101.SCH) — 91KB
• axon-20231231_cal.xml (EX-101.CAL) — 116KB
• axon-20231231_def.xml (EX-101.DEF) — 397KB
• axon-20231231_lab.xml (EX-101.LAB) — 839KB
• axon-20231231_pre.xml (EX-101.PRE) — 701KB
• axon-20231231x10k_htm.xml (XML) — 4471KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 39 Item 1C. Cybersecurity 40 Item 2.

Properties

Properties 43 Item 3.

Legal Proceedings

Legal Proceedings 43 Item 4. Mine Safety Disclosures 43 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43 Item 6. [Reserved] 44 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 62 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 104 Item 9A.

Controls and Procedures

Controls and Procedures 104 Item 9B. Other Information 107 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 107 PART III Item 10. Directors, Executive Officers and Corporate Governance 107 Item 11.

Executive Compensation

Executive Compensation 107 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 107 Item 13. Certain Relationships and Related Transactions, and Director Independence 108 Item 14. Principal Accountant Fees and Services 108 PART IV Item 15. Exhibits, Financial Statement Schedules 108 Item 16. Form 10-K Summary 110 2 Table of Contents PART I We cannot guarantee that any forward-looking statement will be realized, although we believe we have been prudent in our plans and assumptions. Achievement of future results is subject to risks, uncertainties and potentially inaccurate assumptions. Many events beyond our control may determine whether results we anticipate will be achieved. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected. You should bear this i

Business

Item 1. Business Overview Axon Enterprise, Inc. ("Axon," the "Company," "we" or "us") is a market-leading provider of law enforcement technology solutions with a mission to protect life in service of promoting peace, justice and strong institutions. In 2022, we announced our moonshot goal to cut gun-related deaths between police and the public in the United States in half by 2033. Axon is building the public safety operating system of the future by integrating a suite of hardware devices and cloud software solutions that not only revolutionize modern policing but also cater to federal agencies, corrections, justice and enterprise-level security needs. Axon's suite includes cloud-hosted digital evidence management, productivity and real-time operations software, body-worn cameras, in-car cameras, TASER energy devices, robotic security and training solutions. Our hardware and software solutions advance our long-term strategic vision of (i) obsoleting the bullet, (ii) reducing social conflict, (iii) enabling a fair and effective justice system, and (iv) building for racial equity, diversity, and inclusion. Our products solve some of society's most challenging problems and our mission attracts top talent. We aim to invent and deliver public safety products that progressively make the right things easier and the wrong things harder every day. Our research & development ("R&D") investments support continuous innovation on behalf of our customers. Our financial strategy is to build highly recurring, highly profitable businesses and to drive growth through this purposeful product innovation. Axon's operations comprise two reportable segments: 1. TASER: Axon is the market leader in the development, manufacture and sale of CEDs, which we sell under our brand name, TASER. 2. Software and Sensors: We develop, manufacture and sell fully integrated hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share and analy

View Full Filing

View this 10-K filing on SEC EDGAR