Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Axon Enterprise Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Accounts payable	65,988)	59,918)	50,193)	60,689)	49,348)	32,220)	27,418)	7,778)	19,791)	24,142)	22,441)	40,105)	31,568)	25,874)	14,638)	9,064)	9,865)	15,164)	8,998)	9,213)	11,692)
Accrued liabilities	120,607)	155,934)	112,766)	100,980)	69,435)	103,707)	88,894)	66,908)	41,097)	59,843)	74,114)	64,467)	36,404)	45,001)	35,745)	34,011)	36,348)	41,092)	36,908)	29,995)	34,869)
Current portion of deferred revenue	408,061)	360,037)	246,446)	253,185)	326,627)	265,591)	250,651)	186,909)	165,086)	163,959)	154,731)	129,518)	119,827)	117,864)	127,160)	113,351)	110,063)	107,016)	89,637)	76,583)	76,141)
Customer deposits	13,961)	20,399)	15,317)	11,330)	18,411)	10,463)	6,118)	4,872)	8,134)	2,956)	2,132)	3,858)	3,325)	2,974)	2,294)	3,395)	3,604)	2,702)	4,111)	2,970)	3,155)
Current portion of business acquisition contingent consideration	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,736)	1,946)	2,505)
Other current liabilities	7,510)	6,358)	6,801)	6,787)	6,858)	6,540)	6,809)	6,404)	5,667)	5,431)	5,137)	4,882)	3,891)	3,853)	3,997)	3,852)	3,914)	37)	115)	191)	348)
Current liabilities	616,127)	602,646)	431,523)	432,971)	470,679)	418,521)	379,890)	272,871)	239,775)	256,331)	258,555)	242,830)	195,015)	195,566)	183,834)	163,673)	163,794)	166,011)	141,505)	120,898)	128,710)
Deferred revenue, net of current portion	250,366)	248,003)	313,823)	269,477)	140,938)	185,721)	111,892)	113,815)	116,107)	111,222)	87,733)	83,150)	91,886)	87,936)	82,149)	74,586)	74,784)	74,417)	69,382)	61,456)	58,003)
Liability for unrecognized tax benefits	16,198)	10,745)	7,317)	7,692)	5,162)	3,797)	4,580)	4,550)	4,697)	4,503)	4,406)	4,445)	4,173)	3,832)	3,443)	3,462)	3,156)	2,849)	1,805)	1,918)	1,810)
Long-term deferred compensation	7,983)	6,285)	5,369)	5,517)	5,833)	5,679)	5,125)	5,216)	4,825)	4,732)	4,150)	3,990)	3,430)	3,936)	3,694)	3,755)	3,675)	3,235)	3,590)	3,560)	3,998)
Deferred tax liability, net	—)	1)	1)	1)	348)	811)	155)	377)	684)	649)	560)	447)	342)	354)	—)	—)	—)	—)	—)	—)	—)
Long-term operating lease liabilities	35,045)	37,143)	16,311)	18,210)	20,112)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Convertible notes, net	674,724)	673,967)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Business acquisition contingent consideration, net of current portion	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	203)	201)
Other long-term liabilities	4,511)	4,613)	4,773)	4,504)	4,593)	25,832)	29,842)	32,360)	27,866)	27,331)	28,592)	28,237)	23,015)	10,520)	11,537)	11,967)	13,247)	5,704)	5,751)	5,520)	934)
Long-term liabilities	988,827)	980,757)	347,594)	305,401)	176,986)	221,840)	151,594)	156,318)	154,179)	148,437)	125,441)	120,269)	122,846)	106,578)	100,823)	93,770)	94,862)	86,205)	80,528)	72,657)	64,946)
Total liabilities	1,604,954)	1,583,403)	779,117)	738,372)	647,665)	640,361)	531,484)	429,189)	393,954)	404,768)	383,996)	363,099)	317,861)	302,144)	284,657)	257,443)	258,656)	252,216)	222,033)	193,555)	193,656)
Preferred stock, $0.00001 par value; no shares issued and outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.00001 par value	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)
Additional paid-in capital	1,262,099)	1,174,594)	1,167,218)	1,139,086)	1,118,859)	1,095,229)	1,147,478)	1,179,005)	1,044,724)	962,159)	908,584)	883,609)	543,305)	528,272)	480,747)	467,904)	460,146)	453,400)	447,933)	442,717)	202,344)
Treasury stock at cost	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)	(155,947)
Retained earnings	302,161)	257,022)	227,847)	215,716)	164,754)	109,883)	123,391)	74,867)	121,984)	169,901)	144,067)	144,940)	175,699)	172,265)	184,644)	178,540)	177,802)	171,383)	169,301)	163,590)	155,105)
Accumulated other comprehensive income (loss)	(5,319)	(7,179)	(7,806)	(5,205)	(2,878)	(1,317)	(1,020)	(227)	142)	141)	(1,552)	(2,790)	(3,468)	(1,096)	(1,798)	(1,571)	(1,463)	(1,513)	(1,626)	(1,519)	(2,174)
Stockholders’ equity	1,402,995)	1,268,491)	1,231,313)	1,193,651)	1,124,789)	1,047,849)	1,113,903)	1,097,699)	1,010,904)	976,255)	895,153)	869,813)	559,590)	543,495)	507,647)	488,927)	480,539)	467,324)	459,662)	448,842)	199,329)
Total liabilities and stockholders’ equity	3,007,949)	2,851,894)	2,010,430)	1,932,023)	1,772,454)	1,688,210)	1,645,387)	1,526,888)	1,404,858)	1,381,023)	1,279,149)	1,232,912)	877,451)	845,639)	792,304)	746,370)	739,195)	719,540)	681,695)	642,397)	392,985)

Accounts payable: The accounts payable balance exhibited volatility over the reported quarters, initially decreasing from 11,692 thousand USD in March 2018 to 8,998 thousand USD in September 2018, followed by sharp increases reaching a peak of 65,988 thousand USD by March 2023. The trend indicates growing short-term obligations.
Accrued liabilities: Accrued liabilities showed a general upward trend, with notable increases starting in 2020, reaching a maximum of 155,934 thousand USD in December 2022 before some decline by March 2023. This reflects rising expenses incurred but not yet paid.
Current portion of deferred revenue: This liability steadily increased throughout the period, from 76,141 thousand USD in March 2018 to 408,061 thousand USD by March 2023, indicating growing customer prepayments or obligations expected to be recognized as revenue within a year.
Customer deposits: Customer deposits fluctuated but trended upwards overall, rising markedly from 3,155 thousand USD in early 2018 to a peak of 20,399 thousand USD at the end of 2022, with some decrease in early 2023, reflecting higher advance payments from customers.
Current liabilities: Current liabilities experienced a steady increase, more than quadrupling from 128,710 thousand USD in March 2018 to over 616,127 thousand USD in March 2023, consistent with the growth in accounts payable, accrued liabilities, and deferred revenue, indicating expansion in short-term financial obligations.
Deferred revenue, net of current portion: Long-term deferred revenue also increased substantially, with some fluctuations. It rose from 58,003 thousand USD in March 2018 to a peak of 313,823 thousand USD in September 2022, then decreased somewhat by March 2023, suggesting continuing deferred revenue recognized beyond one year.
Liability for unrecognized tax benefits: This liability increased over time, notably accelerating post-2020, reaching 16,198 thousand USD by March 2023, reflecting potential tax contingencies becoming more significant.
Long-term deferred compensation: The balance of long-term deferred compensation trended upward overall, from 3,998 thousand USD in March 2018 to 7,983 thousand USD in March 2023, indicating a rise in deferred employee-related liabilities.
Deferred tax liability, net: Deferred tax liability was minimal and sporadic, with small amounts reported mainly between 2019 and 2021, showing no clear trend or significant impact on overall liabilities.
Long-term operating lease liabilities: The data for long-term operating lease liabilities is only available from 2021 onwards, showing a substantial amount fluctuating between 16,311 thousand USD and 37,143 thousand USD, possibly impacted by lease accounting standard changes.
Convertible notes, net: Convertible notes appeared only in 2022 and 2023, with balances of approximately 674 million USD, indicating the introduction of significant long-term debt instruments during this period.
Other long-term liabilities: Other long-term liabilities fluctuated, peaking around 32,360 thousand USD in mid-2021 then decreasing to about 4,511 thousand USD by March 2023, reflecting variability in less defined long-term obligations.
Long-term liabilities: Long-term liabilities generally increased considerably, from approximately 65 million USD in early 2018 to nearly 989 million USD by March 2023, substantially influenced by new convertible notes and growing deferred revenue.
Total liabilities: Total liabilities more than octupled from 193.7 million USD in March 2018 to over 1.6 billion USD by March 2023, driven by sharp increases in both current and long-term liabilities, reflecting expansive business growth and financing activities.
Common stock and Additional paid-in capital: Common stock par value remained constant at 1 thousand USD across all periods. Additional paid-in capital showed notable growth, particularly post-2019, increasing from roughly 202 million USD in March 2018 to over 1.26 billion USD by March 2023, suggesting substantial equity financing or capital increases.
Treasury stock at cost: Treasury stock remained constant at -155.9 million USD throughout, indicating no repurchases or disposals of treasury stock during the examined periods.
Retained earnings: Retained earnings showed growth with fluctuations, peaking at 302 million USD in March 2023 after some decreases in interim periods, indicating accumulation of net income less dividends over time.
Accumulated other comprehensive income (loss): This item displayed increasing net losses over time, deepening the negative balance from -2.2 million USD in early 2018 to -5.3 million USD by March 2023, indicating unfavorable changes in comprehensive income components such as foreign currency adjustments or unrealized gains/losses.
Stockholders’ equity: Stockholders' equity expanded markedly, driven by increased additional paid-in capital and retained earnings, rising from approximately 199 million USD in early 2018 to over 1.4 billion USD at the end of the reported period.
Total liabilities and stockholders’ equity: The total of liabilities and stockholders' equity rose commensurately with liabilities and equity increases, growing more than sevenfold from roughly 393 million USD to approximately 3 billion USD by March 2023, indicative of significant company growth and asset expansion.

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Axon Enterprise Inc. (NASDAQ:AXON)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data