Axon Enterprise's (AAXN) Q3 Earnings Miss, Revenues Up Y/Y
Zacks Investment Research | Nov 07, 2017 08:45PM ET
Axon Enterprise, Inc.’s (NASDAQ:AAXN) third-quarter 2017 earnings came in at 1 cent per share, missing the Zacks Consensus Estimate of 5 cents by 80%. The bottom line also declined 85.7% year over year, mainly due to lower operating income.
Total Revenue
In the quarter, the company generated revenues of $90.3 million that increased 25.6% year over year. The upside can be attributed to higher sales from both the TASER Weapon as well as the Software and sensors segments.
Revenues from the TASER Weapons segment rose 12.2% year over year to $59.4 million. Software and sensors segment revenues surged 41.9% to $14.6 million.
Segment bookings declined 4.8% to $78 million as of Sep 30, from $81.9 million in the preceding quarter. However, bookings increased 35.6% year over year.
Highlights From the Quarter
Axon’s gross margin contracted 1000 basis points year over year to 55% from 65% a year ago.
Total operating expenses increased 42.5% year over year to $50.6 million. The uptick was primarily owing to higher sales, general and administrative expenses (up 29.4%) and research and development expenses (up 92.5%).
Axon Enterprise, Inc. Price, Consensus and EPS Surprise
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