Summary by Moomoo AI
Axon Enterprise reported strong Q3 2024 financial results with revenue increasing 31.7% to $544.3 million, driven by growth across both TASER and Software segments. TASER segment revenue rose 36.4% to $221.7 million on higher TASER 10 device volumes, while Software and Sensors revenue grew 28.7% to $322.5 million on increased cloud services adoption.Gross margin decreased to 60.8% from 62.1% year-over-year, primarily due to higher stock-based compensation expense and amortization of acquired intangibles. Operating expenses increased by $107.4 million reflecting increased headcount and stock compensation costs. The company recorded net income of $67.0 million, which included a $44.0 million unrealized gain on marketable securities.Looking ahead, Axon reported approximately $7.7 billion in remaining performance obligations, with 15-25% expected to be recognized over the next 12 months. The company continues to invest in growth initiatives while maintaining strong liquidity with $695.1 million in cash and equivalents. Management remains focused on expanding its public safety technology ecosystem through organic development and strategic acquisitions.
