Axon Enterprise Inc. (AXON)

Cash ratio

		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
Cash and cash equivalents	US$ in thousands	598,545	406,042	474,203	263,414	353,684	147,711	212,815	386,367	356,332	281,691	266,372	154,822	155,440	176,000	319,253	156,540	172,250	202,551	219,720	223,642
Short-term investments	US$ in thousands	644,054	715,688	594,942	775,129	581,769	194,627	118,514	20,024	14,510	216,557	388,895	440,842	406,525	330,914	237,980	188,673	178,534	108,913	116,629	105,312
Total current liabilities	US$ in thousands	799,969	717,827	625,239	616,127	602,646	431,523	432,971	470,679	418,521	379,890	272,871	239,775	256,331	258,555	242,830	195,015	195,566	183,834	163,673	163,794
Cash ratio		1.55	1.56	1.71	1.69	1.55	0.79	0.77	0.86	0.89	1.31	2.40	2.48	2.19	1.96	2.29	1.77	1.79	1.69	2.06	2.01

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($598,545K + $644,054K) ÷ $799,969K
= 1.55

The cash ratio of Axon Enterprise Inc has been relatively stable over the past eight quarters, ranging from 1.42 to 2.38. The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents.

At the end of Q4 2023, Axon Enterprise Inc had a cash ratio of 2.14, indicating that the company had $2.14 in cash and cash equivalents for every $1 of current liabilities. This suggests that Axon Enterprise Inc had a comfortable cushion of liquid assets to meet its short-term obligations.

The trend of the cash ratio over the past eight quarters shows a general improvement, with fluctuations but an overall increasing pattern. This indicates that Axon Enterprise Inc has been effectively managing its liquidity and building up its cash reserves over time.

Overall, based on the data provided, Axon Enterprise Inc appears to have a strong liquidity position, with a consistent and improving cash ratio.