Axon Enterprise (AXON) FY2019 results: revenue $531 million, up 26.4% on the year
Axon Enterprise, Inc. (AXON) reported revenue of $531 million for fiscal 2019, the year ended 31 December 2019, up 26.4% on the year before. Net income was $882,000, down 97.0%, and diluted earnings per share $0.01. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$531 million
+26.4% on the year
FY2012FY2019
Operating margin
-1.2%
5.9% a year earlier
FY2012FY2019
Net income
$882,000
-97.0% on the year
FY2012FY2019
Diluted EPS
$0.01
-98.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
531
420
344
+26.4%
Cost of revenue
224
161
137
+38.4%
Gross profit
307
259
207
+18.8%
Gross margin
57.9%
61.6%
60.2%
Research and development
101
76.9
55.4
+31.1%
Selling, general and administrative
213
157
139
+35.7%
Operating income
-6.4
24.8
13.0
Operating margin
-1.2%
5.9%
3.8%
Pre-tax income
2.1
28.1
15.8
-92.6%
Income tax
1.2
-1.1
10.6
Effective tax rate
57.4%
-3.9%
67.0%
Net income
0.9
29.2
5.2
-97.0%
Net margin
0.2%
7.0%
1.5%
Diluted EPS
$0.01
$0.50
$0.10
-98.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
65.7
63.9
18.5
+2.8%
Capital expenditure
15.9
11.1
10.4
+43.1%
Free cash flow
49.7
52.7
8.1
-5.7%
Free cash flow margin
9.4%
12.6%
2.3%
Cash from investing
-241
-9.9
19.1
Cash from financing
-3.9
219
-3.8
Depreciation and amortisation
11.4
10.6
8.0
+7.0%
Share-based compensation
78.5
21.9
15.6
+258.8%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
60m
58m
54m
+3.6%
Shares outstanding at period end
59m
59m
53m
+1.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
543
467
167
+16.3%
Debt
0.0
0.0
0.0
Operating lease liabilities
6.8
n/a
n/a
Other liabilities
295
252
171
+17.1%
Total liabilities and equity
846
720
338
+17.5%
Fixed assets
43.8
37.9
31.2
+15.5%
Goodwill
25.0
25.0
14.9
+0.1%
Intangible assets
12.8
15.9
18.8
-19.9%
Investments
224
0.0
6.9
Cash and equivalents
172
349
75.1
-50.7%
Inventory
38.8
33.8
45.5
+15.1%
Other assets
329
258
146
+27.7%
Total assets
846
720
338
+17.5%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.