Axon Q2 2022 Earnings Report
Key Takeaways
Axon reported record revenue of $286 million, a 31% increase year over year, driven by strong demand for its cloud SaaS solutions, body and fleet systems, and TASER platform. The company raised its full-year outlook and saw SaaS ARR increase by 41% to $368 million. Diluted EPS was $0.71 and non-GAAP diluted EPS was $0.44.
Record revenue of $286 million, up 31% year over year.
SaaS ARR of $368 million, up 41% year over year.
Diluted EPS of $0.71 and non-GAAP diluted EPS of $0.44.
Future contracted revenue surpasses $3 billion.
Axon
Axon
Axon Revenue by Segment
Forward Guidance
Axon expects full year 2022 revenue to be in the range of $1.07 billion to $1.12 billion. Adjusted EBITDA is expected to be at the higher end of the previously communicated range of $190 million to $200 million. Adjusted free cash flow is expected to be in the range of $125 million to $145 million.
Positive Outlook
- Revenue expectation improved to a range of $1.07 billion to $1.12 billion.
- Revenue expectation reflects approximately 27% annual growth at the midpoint.
- Adjusted EBITDA is expected to be at the higher end of the previously communicated range of $190 million to $200 million.
- Adjusted free cash flow range is maintained at $125 million to $145 million in 2022.
- Net campus investments in 2022 are expected to be less than $25 million.
Challenges Ahead
- Facing higher labor costs.
- Facing higher freight costs.
- Facing higher materials costs.
- Working to offset cost increases with automation.
- Working to offset cost increases with additional distribution facilities and engineering R&D on products to lower component costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income