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Mar 31, 2022
Axon Q1 2022 Earnings Report
Axon's Q1 2022 results showed strong growth, with revenue up 32% and increased full year outlook.
Key Takeaways
Axon reported a strong start to the year with Q1 2022 revenue up 32% to $256 million. The company raised its full year outlook, expecting 25% annual revenue growth. Net income was $55 million and Adjusted EBITDA was $49 million.
Revenue increased by 32% year-over-year to $256 million, driven by strong demand for Axon's solutions.
Axon Cloud revenue grew by 47% due to strong SaaS demand.
Net income reached $55 million, with an Adjusted EBITDA of $49 million.
The company raised its full year outlook, now expecting approximately 25% annual revenue growth.
Axon
Axon
Axon Revenue by Segment
Revenue by Segment
TASER Revenue
CapyFin.comSoftware & Services Revenue
CapyFin.com Forward Guidance
Axon expects full year 2022 revenue to be in the range of $1.05 billion to $1.1 billion, reflecting approximately 25% annual growth at the midpoint. Adjusted EBITDA is expected to be in the range of $190 million to $200 million.
Positive Outlook
- Improved full year 2022 revenue expectation to a range of $1.05 billion to $1.1 billion.
- Expects approximately 25% annual growth at the midpoint.
- Adjusted EBITDA range is $190 million to $200 million.
- Reinvesting anticipated revenue outperformance into R&D.
- Maintaining adjusted free cash flow range of $125 million to $145 million in 2022.
Challenges Ahead
- Subject to risks and uncertainties.
- Facing higher labor, freight and materials costs.
- Stock-based compensation expense expected to be more than $104 million for the full year.
- Capital expenditures of approximately $135 million to $160 million remain unchanged.
- Uncertainties related to ability to manage supply chain and avoid production delays.
Revenue & Expenses
Visualization of income flow from segment revenue to net income