$AXON (-1.23%) Enterprise Q3 '24 Earnings Highlights:
Revenue and Earnings:
🔹 Revenue: $544M (Est. $525M) 🟢; UP +32% YoY
🔹 Adjusted EPS: $1.45 (Est. $1.20) 🟢; UP from $1.05 in Q3 '23
🔹 Adj EBITDA: $145M (Est. $119M) 🟢; UP +54% YoY
Q4 '24 Financial Guidance:
🔹 Revenue: $560M-$570M (Est. $547M) 🟢
🔹 Adjusted EBITDA: $130M-$135M (Est. $127M) 🟢
🔹 FY2024 Revenue Outlook: ~$2.07B; >32% growth YoY
🔹 Full-year Adjusted EBITDA Margin: Expected at ~24.6%
Segment Revenue:
🔸 TASER: $221.7M; UP +36.4% YoY
🔸 Software & Sensors: $322.5M; UP +28.7% YoY
🔸 Axon Cloud & Services: $202.5M; UP +35.9% YoY
Sensors & Other: $120M; UP +18% YoY
Other Key Metrics:
🔸 Gross Margin: 60.8%, down from 62.1% in Q3 '23
🔸 Net Income: $67M; UP +9% YoY
🔸 Annual Recurring Revenue (ARR): $885M; UP +36% YoY
🔸 Net Revenue Retention: 123%
Business Highlights:
🔸 Launched AI Era Plan in Q4 to expand AI-driven capabilities
🔸 Record demand for Axon Body cameras with over 100,000 units shipped
🔸 Completed acquisition of Dedrone to enhance airspace security technology
🔸 Strong adoption of TASER 10 devices and cartridges
🔸 Introduced Axon Body 4 with live translation capability
CEO Rick Smith's Commentary:
🔸 "Axon AI represents our commitment to continuous innovation, with a suite of AI-powered products designed to meet the evolving needs of modern law enforcement. Our solutions are built to integrate seamlessly, enhancing workflows for our customers."