Axon Enterprise, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Axon Enterprise, Inc. has filed its Q1 2024 10-Q report, detailing financial activities and corporate information.</b>

AI Summary

AXON ENTERPRISE, INC. (AXON) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Axon Enterprise, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is 17800 N. 85TH ST., SCOTTSDALE, AZ 85255. Axon was formerly known as TASER INTERNATIONAL INC, with a date of name change on 2001-02-12. The filing includes data related to common stock, retained earnings, and various stock incentive plans.

Why It Matters

For investors and stakeholders tracking AXON ENTERPRISE, INC., this filing contains several important signals. This 10-Q filing provides the latest financial snapshot of Axon Enterprise, Inc., crucial for investors to assess performance and make informed decisions. The detailed financial data and disclosures within the report are essential for understanding the company's operational health and strategic direction in the current fiscal year.

Risk Assessment

Risk Level: low — AXON ENTERPRISE, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative disclosures, indicating a routine update.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand Axon's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 2001-02-12 — Name Change Date (Former company name date of change)

Key Players & Entities

• AXON ENTERPRISE, INC. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• 17800 N. 85TH ST. (address) — Business address street 1
• SCOTTSDALE (location) — Business address city
• AZ (location) — Business address state
• 85255 (postal_code) — Business address zip
• TASER INTERNATIONAL INC (company) — Former company name

FAQ

Industry Context

Axon Enterprise operates in the public safety technology sector, providing solutions for law enforcement and defense.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for Q1 2024.
2. Review any new disclosures or risk factors mentioned in the Management's Discussion and Analysis section.
3. Compare key financial metrics to previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, following the 10-K annual report filed previously.

Key Financial Figures

• $0.00001 — ange on which registered Common Stock, $0.00001 Par Value AXON The NASDAQ Global Se

Filing Documents

• axon-20240331x10q.htm (10-Q) — 2665KB
• axon-20240331xex31d1.htm (EX-31.1) — 23KB
• axon-20240331xex31d2.htm (EX-31.2) — 22KB
• axon-20240331xex32.htm (EX-32) — 17KB
• 0001069183-24-000032.txt (&nbsp;) — 12039KB
• axon-20240331.xsd (EX-101.SCH) — 63KB
• axon-20240331_cal.xml (EX-101.CAL) — 72KB
• axon-20240331_def.xml (EX-101.DEF) — 278KB
• axon-20240331_lab.xml (EX-101.LAB) — 581KB
• axon-20240331_pre.xml (EX-101.PRE) — 457KB
• axon-20240331x10q_htm.xml (XML) — 2676KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 5

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 37

- OTHER INFORMATION

PART II - OTHER INFORMATION 37

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 63

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 63

Other Information

Item 5. Other Information 64

Exhibits

Item 6. Exhibits 64

SIGNATURES

SIGNATURES 65 Table of Contents Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding our expectations, beliefs, intentions and strategies regarding the future. We intend that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. From time to time, we also provide forward-looking statements in other materials we release to the public as well as verbal forward-looking statements. These forward-looking statements include, without limitation, statements regarding: proposed products and services and related development efforts and activities; expectations about the market for our current and future products and services; the impact of pending litigation; strategies and trends relating to subscription plan programs and revenues; statements related to recently completed acquisitions; our anticipation that contracts with governmental customers will be fulfilled; strategies and trends, including the amounts and benefits of, research and development ("R&D") investments; the sufficiency of our liquidity and financial resources; expectations about customer behavior; the impact on our investment portfolio of changes in interest rates; our potential use of foreign currency forward and option contracts; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; statements of management's strategies, goals and objectives and other similar expressions; as well as the ultimate resolution of financial statement items requiring critical accounting estimates, including those set forth in our Annual Report on Form

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AXON ENTERPRISE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) March 31, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 403,870 $ 598,545 Marketable securities 99,720 77,940 Short-term investments 560,186 644,054 Accounts and notes receivable, net of allowance of $ 2,298 and $ 2,392 as of March 31, 2024 and December 31, 2023, respectively 476,764 417,690 Contract assets, net 266,172 275,779 Inventory 271,318 269,855 Prepaid expenses and other current assets 123,677 112,786 Total current assets 2,201,707 2,396,649 Property and equipment, net 209,166 200,533 Deferred tax assets, net 208,861 229,513 Intangible assets, net 89,419 19,539 Goodwill 308,470 57,945 Long-term notes receivable, net 2,397 2,588 Long-term contract assets, net 88,209 77,710 Strategic investments 295,497 231,730 Other long-term assets 212,470 220,638 Total assets $ 3,616,196 $ 3,436,845 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 82,075 $ 88,326 Accrued liabilities 127,415 188,230 Current portion of deferred revenue 516,404 491,691 Customer deposits 21,979 21,935 Other current liabilities 9,601 9,787 Total current liabilities 757,474 799,969 Deferred revenue, net of current portion 293,878 281,852 Liability for unrecognized tax benefits 18,610 18,049 Long-term deferred compensation 14,700 11,342 Long-term lease liabilities 32,546 33,550 Convertible notes, net 677,895 677,113 Other long-term liabilities 3,078 2,936 Total liabilities 1,798,181 1,824,811 Commitments and contingencies (Note 13) Stockholders' equity: Preferred stock, $ 0.00001 par value; 25,000,000 shares authorized; no shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively — — Common sto

View Full Filing

View this 10-Q filing on SEC EDGAR