Analysis of Reportable Segments
Axon Enterprise Inc. operates in 2 segments: TASER and Software and Sensors.
Segment Profit Margin
Axon Enterprise Inc., profit margin by reportable segment
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| TASER | 63.32% | 65.70% | 62.65% | 61.94% | 68.25% |
| Software and Sensors | 59.55% | 59.53% | 59.37% | 53.30% | 51.40% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | TASER | TASER segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Software and Sensors | Software and Sensors segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Segment Profit Margin: TASER
Axon Enterprise Inc.; TASER; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Gross margin | 336,609) | 287,043) | 229,627) | 174,473) | 172,761) |
| Net sales | 531,566) | 436,927) | 366,552) | 281,661) | 253,115) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 63.32% | 65.70% | 62.65% | 61.94% | 68.25% |
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).
1 2022 Calculation
Segment profit margin = 100 × Gross margin ÷ Net sales
= 100 × 336,609 ÷ 531,566 = 63.32%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | TASER | TASER segment profit margin ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Segment Profit Margin: Software and Sensors
Axon Enterprise Inc.; Software and Sensors; segment profit margin calculation
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Gross margin | 392,029) | 253,867) | 186,704) | 132,813) | 85,822) |
| Net sales | 658,369) | 426,454) | 314,451) | 249,199) | 166,953) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 59.55% | 59.53% | 59.37% | 53.30% | 51.40% |
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).
1 2022 Calculation
Segment profit margin = 100 × Gross margin ÷ Net sales
= 100 × 392,029 ÷ 658,369 = 59.55%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Software and Sensors | Software and Sensors segment profit margin ratio improved from 2020 to 2021 and from 2021 to 2022. |
Net sales
Axon Enterprise Inc., net sales by reportable segment
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| TASER | 531,566) | 436,927) | 366,552) | 281,661) | 253,115) |
| Software and Sensors | 658,369) | 426,454) | 314,451) | 249,199) | 166,953) |
| Total | 1,189,935) | 863,381) | 681,003) | 530,860) | 420,068) |
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).
Gross margin
Axon Enterprise Inc., gross margin by reportable segment
US$ in thousands
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
|---|---|---|---|---|---|
| TASER | 336,609) | 287,043) | 229,627) | 174,473) | 172,761) |
| Software and Sensors | 392,029) | 253,867) | 186,704) | 132,813) | 85,822) |
| Total | 728,638) | 540,910) | 416,331) | 307,286) | 258,583) |
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).