Summary
Axon Enterprise, Inc. (formerly TASER International, Inc.) reported significant revenue growth in 2012, driven by strong performance in both its Conducted Electrical Weapons (CEW) segment and its burgeoning Video segment. The CEW segment saw an increase in sales, largely due to the popularity of the TASER X2 and the continued upgrade cycle from older models. The Video segment experienced substantial growth, primarily fueled by the adoption of the AXON Flex on-officer recording system and EVIDENCE.COM platform, indicating a successful expansion into new technological areas. The company's strategic focus on innovation, expanding market penetration (both domestically and internationally), and leveraging its installed customer base appears to be yielding positive financial results. Despite some ongoing litigation and the inherent risks in the technology sector, Axon Enterprise demonstrated improved operational efficiency and a return to profitability in 2012, ending the year with a healthy cash position and a clear path for continued growth in its core and emerging product lines.
Financial Highlights
49 data points| Revenue | $114.13M |
| Cost of Revenue | $47.04M |
| Gross Profit | $67.72M |
| R&D Expenses | $8.14M |
| SG&A Expenses | $39.25M |
| Operating Expenses | $45.19M |
| Operating Income | $22.53M |
| Net Income | $14.74M |
| EPS (Basic) | $0.27 |
| EPS (Diluted) | $0.27 |
| Shares Outstanding (Basic) | 53.83M |
| Shares Outstanding (Diluted) | 54.72M |
Key Highlights
- 1TASER International, Inc. rebranded as Axon Enterprise, Inc., reflecting a broader technological focus beyond CEWs.
- 2Net sales increased by 27.5% to $114.8 million in 2012 compared to $90.0 million in 2011.
- 3The CEW segment sales grew by 25.8% to $109.1 million, driven by the TASER X2 and upgrade cycles.
- 4The Video segment sales grew by 69.9% to $5.7 million, with AXON Flex and EVIDENCE.COM showing strong adoption.
- 5The company returned to profitability in 2012, reporting net income of $14.7 million, a significant improvement from a net loss of $7.0 million in 2011.
- 6As of December 31, 2012, the company had $36.1 million in cash and cash equivalents.
- 7The company actively repurchased its stock, completing $20 million in buybacks during 2012 and announcing a new $25 million program in February 2013.