Axon Enterprise (AXON) FY2014 results: revenue $165 million, up 19.4% on the year
Axon Enterprise, Inc. (AXON) reported revenue of $165 million for fiscal 2014, the year ended 31 December 2014, up 19.4% on the year before. Net income was $20 million, up 9.2%, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2015.
Revenue
$165 million
+19.4% on the year
FY2009FY2014
Operating margin
19.8%
20.3% a year earlier
FY2009FY2014
Net income
$20 million
+9.2% on the year
FY2009FY2014
Diluted EPS
$0.37
+8.8% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
165
138
115
+19.4%
Cost of revenue
63.0
52.0
47.0
+21.1%
Gross profit
102
85.8
67.7
+18.3%
Gross margin
61.7%
62.3%
59.0%
Research and development
14.9
9.9
8.1
+50.5%
Selling, general and administrative
54.2
46.6
39.2
+16.3%
Operating income
32.5
27.9
22.5
+16.3%
Operating margin
19.8%
20.3%
19.6%
Pre-tax income
32.3
28.0
22.6
+15.3%
Income tax
12.4
9.8
7.9
+26.6%
Effective tax rate
38.4%
34.9%
34.8%
Net income
19.9
18.2
14.7
+9.2%
Net margin
12.1%
13.2%
12.8%
Diluted EPS
$0.37
$0.34
$0.27
+8.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
35.4
32.4
26.5
+9.3%
Capital expenditure
2.5
1.8
1.3
+40.5%
Free cash flow
32.9
30.6
25.2
+7.5%
Free cash flow margin
20.0%
22.2%
21.9%
Cash from investing
-24.6
-23.1
1.7
Cash from financing
-4.8
-3.2
-13.4
Depreciation and amortisation
4.3
5.1
6.5
-15.9%
Share-based compensation
5.6
4.3
3.4
+28.5%
Buybacks
22.4
25.0
20.0
-10.2%
Diluted shares, weighted
54m
54m
55m
+0.6%
Shares outstanding at period end
53m
53m
53m
+0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
129
108
87.3
+19.2%
Debt
0.0
0.0
n/a
Other liabilities
56.2
40.0
29.0
+40.5%
Total liabilities and equity
185
148
116
+24.9%
Fixed assets
17.5
19.0
22.0
-8.0%
Goodwill
2.2
2.2
0.0
-1.3%
Intangible assets
3.1
3.3
3.3
-6.1%
Investments
42.1
21.1
1.7
+99.2%
Cash and equivalents
48.4
42.3
36.1
+14.4%
Receivables
n/a
n/a
18.1
Inventory
18.3
11.1
11.0
+64.9%
Other assets
53.8
49.3
24.1
+9.1%
Total assets
185
148
116
+24.9%
10-K for the year ended 31 December 2014, filed 12 March 2015: the filing.