Published on 28 Feb 2024 on Zacks via Yahoo Finance
Axon Enterprise (AXON) Q4 Earnings & Revenues Top Estimates
Axon Enterprise, Inc. AXON reported fourth-quarter 2023 adjusted earnings of $1.12 per share, surpassing the Zacks Consensus Estimate of 86 cents. The bottom line increased 60% year over year despite a significant rise in cost of sales.Total revenues of $432.1 million outperformed the Zacks Consensus Estimate of $419 million and increased 28.6% year over year. The top line benefited from strength in Axon Cloud software, demand for Axon Fleet systems, and the ramp-up of TASER 10 and Axon Body 4. In 2023, the company shipped more than 50,000 units of TASER 10 and the product became the highest selling TASER device in the fourth quarter.Annual recurring revenues ascended 47.4% year over year to $697 million in the fourth quarter. The upside was due to strong sales of premium software bundles and connected devices. Net revenue retention was 122% in the period.Total operating expenses climbed 20.8% year over year to $221.1 million in the quarter. Gross margin declined to 61.1% from 61.2% in the year-ago period.For 2023, AXON’s adjusted earnings came in at $4.14, up 89% year over year. The company generated revenues of $1.56 billion, marking an increase of 31% year over year.
Axon Enterprise, Inc Price, Consensus and EPS Surprise
