Axon Enterprise Inc. (AXON)

Payables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	1,109,683	1,053,703	992,615	936,864	872,172	814,861	781,058	832,931	840,378	826,665	783,393	651,040	575,158	550,293	506,740	472,929	441,333	377,685	360,281	345,043
Payables	US$ in thousands	88,326	90,035	72,989	65,988	59,918	50,193	60,689	49,348	32,220	27,418	7,778	19,791	24,142	22,441	40,105	31,568	25,874	14,638	9,064	9,865
Payables turnover		12.56	11.70	13.60	14.20	14.56	16.23	12.87	16.88	26.08	30.15	100.72	32.90	23.82	24.52	12.64	14.98	17.06	25.80	39.75	34.98

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $1,109,683K ÷ $88,326K
= 12.56

The payables turnover ratio for Axon Enterprise Inc has been fluctuating over the past 8 quarters. The highest payables turnover ratio was 8.24 in Q3 2022, while the lowest was 6.30 in Q2 2022. Overall, the trend indicates that the company has been effectively managing its accounts payable in recent quarters, with a general upward trend from Q2 2022 to Q1 2023. However, the slight decrease in Q3 2023 compared to Q4 2023 suggests a potential slowdown in how efficiently the company is utilizing its accounts payable. An in-depth analysis of the company's payment terms, supplier relationships, and cash flow management may provide further insights into the reasons behind these fluctuations.