Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Axon Enterprise Inc., consolidated cash flow statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Net income (loss)
- The net income shows significant volatility throughout the periods. The company experienced a large loss in December 2019 and again in June and September 2020, followed by a sharp rebound in December 2020. After fluctuating losses and profits around 2021 and early 2022, net income turned positive and trended upward in 2023, reaching its highest value in the March 2023 quarter.
- Depreciation and amortization
- This expense category generally increased steadily from 2018 through 2023, reflecting growing non-cash charges likely related to asset growth and intangible asset amortization. The rise was consistent and showed no major fluctuations.
- Stock-based compensation
- Stock-based compensation rose significantly from 2018 to 2021, peaking in mid-2021. Post-peak, it decreased but remained high relative to earlier years, indicating sustained employee incentive costs or equity-related expenses.
- Deferred income taxes
- Deferred income taxes showed substantial fluctuations, oscillating between positive and negative values across quarters. A notable large negative impact occurred in late 2021, indicating considerable tax adjustments.
- Accounts and notes receivable and contract assets
- Values fluctuated widely with no clear trend and extremes in both positive and negative directions, suggesting volatility in collections or contract asset management. Notably, large negative values appeared in 2020 and several large positive and negative swings in 2021 and 2022.
- Inventory
- Inventory values similarly varied with large negative values appearing frequently from 2019 onward, pointing to possible inventory reductions, write-downs, or adjustments throughout the period.
- Accounts payable, accrued, and other liabilities
- This category exhibited notable irregular volatility, oscillating from negative to large positive values and back again, indicating variable short-term liabilities management or settlement timing.
- Deferred revenue
- Deferred revenue fluctuated but generally increased from 2018 through 2023, implying growth in advance customer payments or contract liabilities over the periods, especially with peaks in 2021 and early 2022.
- Net cash provided by operating activities
- Operating cash flow showed large swings from positive to negative values. There were strong positive inflows notably in the fourth quarter of 2020 and throughout 2023, while several quarters in 2020 showed negative cash flows, indicating inconsistency in operating cash generation.
- Purchases and proceeds of investments
- Purchases of investments showed heavy outflows particularly during 2019-2023, at times exceeding hundreds of millions, contrasted with proceeds from calls/maturities of investments fluctuating widely. This pattern suggests active portfolio management or acquisition activity with significant capital allocation to investments.
- Purchases of property and equipment
- Capital expenditure displayed a generally high and volatile pattern, with some extremely large outflows in 2020, indicative of substantial investments in physical assets or expansion activities during that year.
- Net cash used in investing activities
- Investing cash flow consistently reflected negative values with significant outflows at multiple points, especially in 2020 and 2023, indicating heavy investment spending or acquisition activities relative to proceeds from asset sales or investment maturities.
- Net cash provided by financing activities
- Financing activities were highly variable. There were substantial inflows in the mid-2018 period and again in 2020 and 2023 related to equity offerings and convertible note issuances. Some quarters, particularly in 2021 and early 2022, showed large outflows, indicating debt repayments or distributions.
- Effect of exchange rate changes on cash and cash equivalents
- The impact of foreign exchange fluctuations on cash was mostly minor but sporadic, with some quarters showing small positive or negative effects, consistent with changes in currency valuations.
- Overall cash position
- The net change in cash and cash equivalents exhibited large positive and negative swings, with substantial increases notably in mid-2018, 2020 Q2, and 2023 Q1, balanced by sharp declines in 2019 and late 2022. This reflects significant volatility in liquidity positions over time.
- Other notable items
- Losses on disposal and impairment of assets and intangible assets showed recurring charges throughout the periods, indicating ongoing asset writedowns or disposals. The presence of bond amortization and issuance costs starting in later years suggests activity related to debt issuance and related financing instruments.