2021 Q4 Form 10-K Financial Statement

#000155837022002006 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $217.6M $863.4M $226.1M
YoY Change -3.77% 26.78% 31.57%
Cost Of Revenue $82.52M $322.5M $84.80M
YoY Change -2.69% 21.84% 7.07%
Gross Profit $135.1M $540.9M $141.3M
YoY Change -4.42% 29.92% 52.53%
Gross Profit Margin 62.07% 62.65% 62.49%
Selling, General & Admin $111.5M $515.0M $97.50M
YoY Change 14.31% 67.6% 24.52%
% of Gross Profit 82.52% 95.21% 69.0%
Research & Development $50.67M $194.0M $38.00M
YoY Change 33.35% 57.5% 32.4%
% of Gross Profit 37.52% 35.87% 26.89%
Depreciation & Amortization $5.274M $18.69M $3.540M
YoY Change 48.98% 49.85% 12.03%
% of Gross Profit 3.9% 3.46% 2.51%
Operating Expenses $162.1M $709.0M $135.6M
YoY Change 19.56% 64.71% 26.73%
Operating Profit -$27.07M -$168.1M $5.700M
YoY Change -574.84% 1088.15% -139.69%
Interest Expense -$10.15M $26.75M $3.300M
YoY Change -407.52% 240.35% 32.0%
% of Operating Profit 57.89%
Other Income/Expense, Net $25.27M
YoY Change
Pretax Income -$37.21M -$141.4M $9.000M
YoY Change -513.49% 2147.26% -175.63%
Income Tax -$23.71M -$81.36M -$16.80M
% Of Pretax Income -186.67%
Net Earnings -$13.51M -$60.02M $25.80M
YoY Change -152.36% 3381.32% -308.42%
Net Earnings / Revenue -6.21% -6.95% 11.41%
Basic Earnings Per Share -$0.91
Diluted Earnings Per Share -$194.8K -$0.91 $405.0K
COMMON SHARES
Basic Shares Outstanding 68.47M 66.19M 63.55M
Diluted Shares Outstanding 66.19M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $428.5M $443.0M $562.0M
YoY Change -23.75% -21.17% 60.21%
Cash & Equivalents $356.3M $356.3M $155.4M
Short-Term Investments $72.18M $86.69M $406.5M
Other Short-Term Assets $56.54M $56.54M $36.90M
YoY Change 53.22% 53.22% 5.73%
Inventory $108.7M $108.7M $89.96M
Prepaid Expenses
Receivables $501.2M $501.2M $293.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.109B $1.109B $982.0M
YoY Change 12.99% 12.98% 61.11%
LONG-TERM ASSETS
Property, Plant & Equipment $138.5M $161.7M $105.5M
YoY Change 31.25% 26.55% 141.02%
Goodwill $43.59M $25.21M
YoY Change 72.95% 0.77%
Intangibles $15.47M $9.448M
YoY Change 63.74% -26.02%
Long-Term Investments $114.8M $114.8M $102.4M
YoY Change 12.06% 12.06% 125.05%
Other Assets $98.25M $202.2M $68.21M
YoY Change 44.04% 120.47% 69.75%
Total Long-Term Assets $578.7M $578.7M $399.1M
YoY Change 45.02% 45.04% 68.98%
TOTAL ASSETS
Total Short-Term Assets $1.109B $1.109B $982.0M
Total Long-Term Assets $578.7M $578.7M $399.1M
Total Assets $1.688B $1.688B $1.381B
YoY Change 22.24% 22.25% 63.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.22M $32.22M $24.14M
YoY Change 33.46% 33.69% -6.69%
Accrued Expenses $103.7M $106.5M $59.84M
YoY Change 73.3% 90.2% 32.98%
Deferred Revenue $265.6M $164.0M
YoY Change 61.99% 39.11%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $418.5M $418.5M $256.3M
YoY Change 63.27% 63.29% 31.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.392M $221.0M $27.33M
YoY Change -80.27% 49.55% 159.8%
Total Long-Term Liabilities $5.392M $221.0M $27.33M
YoY Change -80.27% 49.55% 159.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $418.5M $418.5M $256.3M
Total Long-Term Liabilities $5.392M $221.0M $27.33M
Total Liabilities $640.4M $640.4M $404.8M
YoY Change 58.2% 58.19% 33.97%
SHAREHOLDERS EQUITY
Retained Earnings $109.9M $169.9M
YoY Change -35.33% -1.37%
Common Stock $1.095B $962.2M
YoY Change 13.83% 82.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $155.9M $155.9M
YoY Change 0.0% 0.0%
Treasury Stock Shares $20.22M $20.22M
Shareholders Equity $1.048B $1.048B $976.3M
YoY Change
Total Liabilities & Shareholders Equity $1.688B $1.688B $1.381B
YoY Change 22.24% 22.25% 63.31%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$13.51M -$60.02M $25.80M
YoY Change -152.36% 3381.32% -308.42%
Depreciation, Depletion And Amortization $5.274M $18.69M $3.540M
YoY Change 48.98% 49.85% 12.03%
Cash From Operating Activities $12.93M $124.5M $34.32M
YoY Change -62.33% 223.52% -25.08%
INVESTING ACTIVITIES
Capital Expenditures -$13.62M $49.89M -$6.670M
YoY Change 104.2% -31.31% 71.03%
Acquisitions $22.39M
YoY Change
Other Investing Activities $172.8M $302.8M -$49.57M
YoY Change -448.53% -206.76% -32.92%
Cash From Investing Activities $159.1M $252.6M -$56.24M
YoY Change -382.97% -170.84% -27.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $105.5M
YoY Change -65.61%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -97.28M -174.2M -920.0K
YoY Change 10473.8% -158.2% 17.95%
NET CHANGE
Cash From Operating Activities 12.93M 124.5M 34.32M
Cash From Investing Activities 159.1M 252.6M -56.24M
Cash From Financing Activities -97.28M -174.2M -920.0K
Net Change In Cash 74.79M 200.9M -22.84M
YoY Change -427.47% -1295.47% -30.32%
FREE CASH FLOW
Cash From Operating Activities $12.93M $124.5M $34.32M
Capital Expenditures -$13.62M $49.89M -$6.670M
Free Cash Flow $26.55M $74.61M $40.99M
YoY Change -35.23% -318.48% -17.54%

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CY2021 us-gaap Gain Loss On Investments
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CY2021 axon Credit Loss Reserve
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CY2020 us-gaap Increase Decrease In Accounts And Notes Receivable
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CY2019 us-gaap Increase Decrease In Accounts And Notes Receivable
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CY2021 us-gaap Increase Decrease In Inventories
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CY2020 us-gaap Increase Decrease In Inventories
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CY2019 us-gaap Increase Decrease In Inventories
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CY2021 axon Increase Decrease In Prepaid Expense And Other Current Assets
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CY2020 axon Increase Decrease In Prepaid Expense And Other Current Assets
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CY2019 axon Increase Decrease In Prepaid Expense And Other Current Assets
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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CY2020 us-gaap Increase Decrease In Contract With Customer Liability
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Payments To Acquire Investments
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CY2020 us-gaap Payments To Acquire Investments
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CY2019 us-gaap Payments To Acquire Investments
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2020 us-gaap Payments To Acquire Intangible Assets
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CY2019 us-gaap Payments To Acquire Intangible Assets
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CY2021 axon Payments To Acquire Equity Securities Without Readily Determinable Fair Value
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CY2020 axon Payments To Acquire Equity Securities Without Readily Determinable Fair Value
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Debt Securities Available For Sale Change In Present Value Expense Reversal
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CY2019Q4 us-gaap Product Warranty Accrual
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CY2021 us-gaap Product Warranty Accrual Payments
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CY2020 us-gaap Product Warranty Accrual Payments
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CY2021Q4 us-gaap Product Warranty Accrual
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CY2020Q4 us-gaap Product Warranty Accrual
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CY2021 us-gaap Research And Development Expense
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CY2020 us-gaap Research And Development Expense
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CY2019 us-gaap Research And Development Expense
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CY2021 axon Number Of Depository Institutions
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CY2021Q4 axon Cash And Cash Equivalent At Four Depository Institutions
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CY2021 axon Investment In Number Of Unconsolidated Affiliates
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Number Of Reportable Segments
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2021 us-gaap Net Income Loss
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CY2020 us-gaap Net Income Loss
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CY2019 us-gaap Net Income Loss
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Earnings Per Share Diluted
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CY2020 us-gaap Earnings Per Share Diluted
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-0.03
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2019Q4 us-gaap Contract With Customer Asset Net
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CY2020Q4 us-gaap Contract With Customer Liability
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CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021 us-gaap Earnings Per Share Basic
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CY2019 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Reclassifications
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Reclassification of Prior Year Presentation</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:21.6pt;margin:0pt 0pt 12pt 0pt;">Certain prior year amounts, including strategic investments, have been reclassified for consistency with the current year presentation. These reclassifications are not material and had no effect on the reported results of operations.</p>
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CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q4 us-gaap Unbilled Receivables Current
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CY2021 axon Revenue From Contract With Customer Payment Due Date From Date Of Invoice
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CY2021 us-gaap Contract With Customer Liability Revenue Recognized
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CY2020 us-gaap Contract With Customer Liability Revenue Recognized
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135513000
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
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CY2021Q4 us-gaap Contract With Customer Liability Current
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CY2021Q4 us-gaap Contract With Customer Liability
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CY2020Q4 us-gaap Contract With Customer Liability Current
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163959000
CY2020Q4 us-gaap Contract With Customer Liability
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CY2021Q4 us-gaap Contract With Customer Liability Current
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CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
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CY2021Q4 us-gaap Contract With Customer Liability
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CY2020Q4 us-gaap Contract With Customer Liability
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54028000
CY2020Q4 us-gaap Capitalized Contract Cost Net Noncurrent
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32455000
CY2021Q4 us-gaap Capitalized Contract Cost Net
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73990000
CY2020Q4 us-gaap Capitalized Contract Cost Net
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45771000
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CY2020Q4 us-gaap Held To Maturity Securities
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401000
CY2020Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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128000
CY2020Q4 us-gaap Held To Maturity Securities Fair Value
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653089000
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155443000
CY2020Q4 axon Cash And Cash Equivalents Expected Credit Loss Reserve
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3000
CY2020Q4 axon Cash And Cash Equivalents Amortized Cost After Expected Credit Loss Reserve
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155440000
CY2020Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
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200000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
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3376000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
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1567000
CY2020 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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768000
CY2021 us-gaap Provision For Doubtful Accounts
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