Name: Axon Enterprise Inc. (NASDAQ:AXON) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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Axon Enterprise Inc., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income (loss)	147,139)	(60,018)	(1,724)	882)	29,205)
Foreign currency translation adjustments	(4,818)	(1,251)	1,237)	417)	(46)
Unrealized (gains) losses on available-for-sale investments	(1,044)	(207)	—)	—)	—)
Other comprehensive income (loss)	(5,862)	(1,458)	1,237)	417)	(46)
Comprehensive income (loss)	141,277)	(61,476)	(487)	1,299)	29,159)

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).

The financial trajectory from 2018 through 2022 is characterized by extreme volatility in profitability, concluding with a significant recovery in the final fiscal year.

Net Income Performance: A sharp decline in net income is observed between 2018 and 2021, moving from a profit of US$ 29.2 million to a substantial loss of US$ 60.0 million. This downward trend reached its nadir in 2021 before a rapid reversal in 2022, where net income surged to US$ 147.1 million, marking the most profitable year in the analyzed period.
Analysis of Other Comprehensive Income (OCI): Other comprehensive income has transitioned from modest gains in 2019 and 2020 to accelerating losses. Foreign currency translation adjustments, which contributed a gain of US$ 1.2 million in 2020, shifted to a loss of US$ 4.8 million by 2022. Furthermore, unrealized losses on available-for-sale investments became a factor in 2021 and increased to US$ 1.0 million in 2022, contributing to a total OCI loss of US$ 5.9 million in the final year.
Comprehensive Income Trends: Comprehensive income movements closely track the fluctuations of net income, indicating that operational results are the primary driver of overall financial performance rather than external translation or investment adjustments. The progression from a comprehensive loss of US$ 61.5 million in 2021 to a comprehensive income of US$ 141.3 million in 2022 reflects a significant positive shift in the organization's total financial position.

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