Axon (AAXN) reported earnings on Tue 27 Feb 2018 (a/h)

** charts before earnings **

 

** charts after earnings **

 

 ** the following day  **

Axon beats by $0.20, beats on revs; guides FY18 revs above consensus 

• Reports Q4 (Dec) earnings of $0.18 per share, excluding non-recurring items, $0.20 better thanthe Capital IQ Consensus of ($0.02); revenues rose 15.3% year/year to $94.65 mln vs the $89.43 mln Capital IQ Consensus.
• Q4 2017 bookings were strong, coming in at $71.2 million, while Q4 2017 future contracted revenue rose to $536 million from $494 million in Q3 2017. Annual bookings grew 15% year-over-year from $254 million in 2016 to $291 million in 2017. Unit shipments in Q4 2017 reflected the Q3 2017 or early Q4 completions of several large customer deployments.
• Unit shipments also reflect some large deployments that pushed into Q1 2018. Q1 2018 is already off to a strong start for new orders. Australia's Victoria Police will deploy 11,000 body cameras backed by Evidence.com, which will represent our second largest body camera deployment.
• Co issues upside guidance for FY18, sees FY18 revs of $399-406 mln (+16-18%) vs. $393.90 mln Capital IQ Consensus Estimate.
• Co also announced a ten-year CEO performance award for CEO and founder Rick Smith tied entirely to achieving market cap and financial performance milestones that would make Axon one of the most valuable companies in the public safety sector. For the award to fully vest, Axon's market cap would have to grow ten-fold from recent levels to $13.5 billion, and key revenue and profitability goals would also have to be achieved.