Axon (AXON) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Axon Enterprise (AXON) reported $413.6 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 32.7%. EPS of $1.02 for the same period compares to $0.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $393.77 million, representing a surprise of +5.04%. The company delivered an EPS surprise of +34.21%, with the consensus EPS estimate being $0.76.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $619 compared to the $593.45 average estimate based on two analysts.
Revenue- TASER: $162.57 million versus $163.11 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +12.2% change.
Net Sales- Software and Sensors: $251.03 million versus the five-analyst average estimate of $230.66 million. The reported number represents a year-over-year change of +50.4%.
Net Sales- Services- Software and Sensors: $147.96 million versus $136.75 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +54.6% change.
Net Sales- Products- Software and Sensors: $103.07 million compared to the $93.91 million average estimate based on five analysts. The reported number represents a change of +44.9% year over year.
Net Sales- Products: $256.44 million versus the four-analyst average estimate of $251.26 million. The reported number represents a year-over-year change of +21.9%.
Net Sales- Products- TASER: $153.38 million compared to the $156.90 million average estimate based on four analysts. The reported number represents a change of +10.1% year over year.
Net Sales- Services: $157.16 million compared to the $144.09 million average estimate based on three analysts. The reported number represents a change of +55.1% year over year.
Net Sales- Services- TASER: $9.20 million versus the three-analyst average estimate of $8.73 million. The reported number represents a year-over-year change of +63.7%.
Net Sales- Products- TASER- Extended warranties: $8.08 million versus $8.72 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +10.8% change.
Net Sales- Products- TASER- Other: $4.52 million versus the two-analyst average estimate of $6.86 million. The reported number represents a year-over-year change of +9.1%.
Net sales by Product- Software and Sensors segment- Axon Body: $52.49 million versus $39.23 million estimated by two analysts on average.
View all Key Company Metrics for Axon here>>>
Shares of Axon have returned +3.9% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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