Axon Enterprise (AXON) reported $374.61 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 31.2%. EPS of $1.11 for the same period compares to $0.44 a year ago.
The reported revenue represents a surprise of +7.79% over the Zacks Consensus Estimate of $347.53 million. With the consensus EPS estimate being $0.62, the EPS surprise was +79.03%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Axon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Annual recurring revenue: $559 compared to the $548.43 average estimate based on three analysts.
- Revenue- TASER: $154.41 million versus the four-analyst average estimate of $147.76 million. The reported number represents a year-over-year change of +13.9%.
- Net Sales- Software and Sensors: $220.20 million versus the four-analyst average estimate of $199.77 million. The reported number represents a year-over-year change of +46.8%.
- Net Sales- Services- TASER: $8.49 million compared to the $6.50 million average estimate based on two analysts. The reported number represents a change of +119.8% year over year.
- Net Sales- Products- Software and Sensors: $87.56 million compared to the $83.78 million average estimate based on two analysts. The reported number represents a change of +28.1% year over year.
- Net Sales- Products- TASER: $145.92 million versus $144.90 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +10.8% change.
- Net Sales- Services- Software and Sensors: $132.64 million versus the two-analyst average estimate of $112.75 million. The reported number represents a year-over-year change of +62.4%.
- Gross Margin- Software and Sensors: $138.76 million versus $117.33 million estimated by four analysts on average.
- Gross Margin- TASER: $93.36 million versus $90.42 million estimated by three analysts on average.
Shares of Axon have returned -8% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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