Axon Enterprise (AAXN) Tops Q2 EPS by 14c, Revenues Beat

August 7, 2018 4:02 PM EDT

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Axon Enterprise (NASDAQ: AAXN) reported Q2 EPS of $0.18, $0.14 better than the analyst estimate of $0.04. Revenue for the quarter came in at $99 million versus the consensus estimate of $95.84 million.

  • Revenue of $99 million grew 25% year-over-year.
    • International revenue grew 52% year-over-year to $20 million, driven by strength in Australia, Canada, France, and the UK.
  • Gross margin of 63.6% reflects a strong product mix in weapons and continued Axon Cloud growth, partially offset by low gross margin VIEVU contracts.
  • Operating expenses of $57.8 million were up 14% sequentially. Excluding one-time acquisition and integration costs of $1.4 million associated with the purchase of VIEVU, operating expenses were $56.4 million, up 11% sequentially, driven by continued hiring in R&D (up 22% sequentially) and investments in SG&A (up 6% sequentially excluding one-time acquisition and integration costs) as we scale.
  • GAAP EPS of $0.15 was favorably impacted by $0.06 of discrete tax benefits related to CEO stock option exercises in the quarter. Non-GAAP EPS of $0.18, which excludes $0.06 of discrete tax benefits, grew 100% year-over-year.
  • Adjusted EBITDA of $13.7 million, up 69% year-over-year, and Adjusted EBITDA margin of 13.8%.

For earnings history and earnings-related data on Axon Enterprise (AAXN) click here.

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