Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Axon Enterprise Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net sales from products	801,388)	608,525)	500,250)	399,474)	327,635)
Net sales from services	388,547)	254,856)	180,753)	131,386)	92,433)
Net sales	1,189,935)	863,381)	681,003)	530,860)	420,068)
Cost of product sales	(363,219)	(260,098)	(224,131)	(190,683)	(139,337)
Cost of service sales	(98,078)	(62,373)	(40,541)	(32,891)	(22,148)
Cost of sales	(461,297)	(322,471)	(264,672)	(223,574)	(161,485)
Gross margin	728,638)	540,910)	416,331)	307,286)	258,583)
Sales, general and administrative	(401,575)	(515,007)	(307,286)	(212,959)	(156,886)
Research and development	(233,810)	(194,026)	(123,195)	(100,721)	(76,856)
Operating expenses	(635,385)	(709,033)	(430,481)	(313,680)	(233,742)
Income (loss) from operations	93,253)	(168,123)	(14,150)	(6,394)	24,841)
Interest expense	(488)	(28)	(55)	(46)	(86)
Investment interest income	4,782)	1,511)	4,086)	7,040)	3,002)
Other income, net	98,971)	25,265)	3,828)	1,470)	347)
Interest and other income, net	103,265)	26,748)	7,859)	8,464)	3,263)
Income (loss) before (provision) benefit for income taxes	196,518)	(141,375)	(6,291)	2,070)	28,104)
(Provision) benefit for income taxes	(49,379)	81,357)	4,567)	(1,188)	1,101)
Net income (loss)	147,139)	(60,018)	(1,724)	882)	29,205)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Axon Enterprise Inc. net sales increased from 2020 to 2021 and from 2021 to 2022.
Income (loss) from operations	The net result for the period of deducting operating expenses from operating revenues.	Axon Enterprise Inc. income (loss) from operations decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Income (loss) before (provision) benefit for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Axon Enterprise Inc. income (loss) before (provision) benefit for income taxes decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Net income (loss)	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Axon Enterprise Inc. net income (loss) decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Axon Enterprise Inc. (NASDAQ:AXON)

Income Statement