Axon Enterprise (AXON) FY2020 results: revenue $681 million, up 28.3% on the year
Axon Enterprise, Inc. (AXON) reported revenue of $681 million for fiscal 2020, the year ended 31 December 2020, up 28.3% on the year before. Net income was -$2 million, and diluted earnings per share $-0.03. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$681 million
+28.3% on the year
FY2013FY2020
Operating margin
-2.1%
-1.2% a year earlier
FY2013FY2020
Net income
-$2 million
FY2013FY2020
Diluted EPS
-$0.03
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
681
531
420
+28.3%
Cost of revenue
265
224
161
+18.4%
Gross profit
416
307
259
+35.5%
Gross margin
61.1%
57.9%
61.6%
Research and development
123
101
76.9
+22.3%
Selling, general and administrative
307
213
157
+44.3%
Operating income
-14.2
-6.4
24.8
Operating margin
-2.1%
-1.2%
5.9%
Pre-tax income
-6.3
2.1
28.1
Income tax
-4.6
1.2
-1.1
Effective tax rate
n/a
57.4%
-3.9%
Net income
-1.7
0.9
29.2
Net margin
-0.3%
0.2%
7.0%
Diluted EPS
-$0.03
$0.01
$0.50
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
38.5
65.7
63.9
-41.4%
Capital expenditure
72.6
15.9
11.1
+355.7%
Free cash flow
-34.1
49.7
52.7
Free cash flow margin
-5.0%
9.4%
12.6%
Cash from investing
-357
-241
-9.9
Cash from financing
299
-3.9
219
Depreciation and amortisation
12.5
11.4
10.6
+9.8%
Share-based compensation
134
78.5
21.9
+70.2%
Buybacks
n/a
n/a
0.0
Diluted shares, weighted
62m
60m
58m
+2.9%
Shares outstanding at period end
64m
59m
59m
+7.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
976
543
467
+79.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
19.0
6.8
n/a
+179.0%
Other liabilities
386
295
252
+30.6%
Total liabilities and equity
1,381
846
720
+63.3%
Fixed assets
105
43.8
37.9
+141.0%
Goodwill
25.2
25.0
25.0
+0.8%
Intangible assets
9.4
12.8
15.9
-26.0%
Investments
497
224
0.0
+121.9%
Cash and equivalents
155
172
349
-9.8%
Inventory
90.0
38.8
33.8
+131.6%
Other assets
498
329
258
+51.5%
Total assets
1,381
846
720
+63.3%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.