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Mar 31, 2021
Axon Q1 2021 Earnings Report
Revenue increased driven by strong product demand and international expansion.
Key Takeaways
Axon Enterprise reported a strong start to 2021 with revenue growth of 33% year over year, driven by strong demand for TASER devices and software-heavy body camera bundles. The company is raising its full-year outlook.
Revenue of $195 million grew 33% year over year.
Annual Recurring Revenue up 39% to $242 million.
Gross margin of 63.3% improved 310 basis points year over year.
New products bookings up 130% year over year, and new market bookings up 35% year over year.
Revenue by Segment
Forward Guidance
Axon expects to achieve revenue in the range of $780 million to $820 million and Adjusted EBITDA to $140 million to $150 million for 2021.
Positive Outlook
- Revenue in the range of $780 million to $820 million.
- Adjusted EBITDA to $140 million to $150 million.
- Investments are yielding results ahead of expectations.
- Continue investing for growth.
- Early view of the business in 2022 includes approximately $920 million in revenue.
Challenges Ahead
- Inherent difficulty of forecasting certain types of expenses such as stock-based compensation and income tax expenses
- Stock-based compensation expense to be at least $175 million for the full year.
- Stock-based compensation expense may fluctuate significantly based on changes in the probability of attaining certain operational metrics or attainment of such metrics and with changes in the expected or actual timing of such attainment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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