Axon Enterprise Inc. (AXON)

Receivables 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
Revenue (ttm)	US$ in thousands	1,569,959	1,468,095	1,366,248	1,277,256	1,187,386	1,070,477	990,712	923,894	862,707	871,660	806,113	728,577	680,248	626,197	590,674	561,872	530,795	473,735	447,652	434,421
Receivables	US$ in thousands	422,490	442,830	372,060	379,887	367,090	418,308	379,672	344,907	334,719	265,267	201,907	185,373	247,801	172,803	154,253	147,945	166,578	149,013	134,630	149,096
Receivables turnover		3.72	3.32	3.67	3.36	3.23	2.56	2.61	2.68	2.58	3.29	3.99	3.93	2.75	3.62	3.83	3.80	3.19	3.18	3.33	2.91

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $1,569,959K ÷ $422,490K
= 3.72

The receivables turnover ratio for Axon Enterprise Inc has shown a fluctuating trend in recent quarters. In Q4 2023, the receivables turnover ratio increased to 3.74, indicating that the company collected its accounts receivable approximately 3.74 times during the quarter. This represents an improvement from the previous quarter where the ratio was 3.31.

Looking back over the past year, Axon's receivables turnover ratio has generally been on an upward trajectory, with occasional fluctuations. The highest turnover ratio was observed in Q4 2022 at 3.32 and the lowest in Q2 2022 at 2.61.

Overall, the increasing trend in the receivables turnover ratio suggests that Axon has been managing its accounts receivable effectively, converting them into cash at a quicker pace. This can be a positive indication of the company's credit policies, collection efficiency, and overall financial health. However, it is important to continue monitoring this ratio to ensure sustainable and efficient management of accounts receivable in the future.