Short answer
Axon Enterprise (AXON) filed its fiscal 2024 10-K annual report with the SEC on Feb 28, 2025. It reported revenue of $2.1B (+33.2% year over year) and net income of $377M.
- Top risk flagged: Regulatory risk from ATF oversight under National Firearms Act, Gun Control Act, and Firearms Owners’ Protection Act impacting TASER 10 CED production and sales
FY2024 key financial metrics · XBRL
- Revenue
- $2.1B
- +33.2% YoY
- Net income
- $377M
- +116.4% YoY
- Operating margin
- 2.8%
- −7.1 pp YoY
- Gross margin
- 59.6%
- −1.5 pp YoY
- EPS (diluted)
- $4.80
- +107.8% YoY
- ROE
- 16.2%
- +5.4 pp YoY
- Operating cash flow
- $408M
- +115.7% YoY
Source: XBRL data from the Axon Enterprise (AXON) FY2024 10-K on SEC EDGAR. USD.
Axon Enterprise FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: integrated public safety operating system combining hardware devices and cloud software for law enforcement and related sectors
- Enhanced emphasis on cloud-hosted digital evidence management and real-time operations software within the Software and Sensors segment
- Strategic mission to cut gun-related deaths in U.S. by 50% by 2033, reinforcing focus on social conflict reduction and justice system fairness
- Largest segment TASER maintains market leadership in conducted energy devices, integrating VR training content to expand service offerings
- R&D investments prioritized for continuous innovation aimed at building highly recurring, profitable businesses
Management Discussion & Analysis
- Revenue $2.1B, up $521.8M or 33.4% YoY
- Gross margin 59.6% vs 61.2%, adjusted gross margin 63.2% vs 61.8% YoY
- Income from operations $58.5M vs $156.9M prior year
- Net income $377.0M including $283.2M fair value gains, prior year $175.8M including $41.8M losses
- Operating expenses up $384.2M due to higher salaries, stock comp, and consulting fees
Risk Factors
- Regulatory risk from ATF oversight under National Firearms Act, Gun Control Act, and Firearms Owners’ Protection Act impacting TASER 10 CED production and sales
- Geopolitical exposure to import/export controls, tariffs, and sanctions affecting international operations and product/component sourcing
- Operational risk from reliance on third-party cloud providers causing potential service disruptions impacting law enforcement customers’ evidence management
- Competitive risk from evolving AI data privacy regulations affecting use of Axon Customer Evidence Improvement Program (ACEIP) data in AI training
- Financial risk from identified material weakness in revenue recognition controls related to customer contracts under ASC 606 affecting financial reporting accuracy
Generated from the filing text; verify against the original. How to read a 10-K
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