Axon Enterprise Inc. (AXON)

Quick 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	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
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
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
Quick ratio		2.08	2.18	2.31	2.30	2.16	1.76	1.64	1.60	1.69	2.01	3.14	3.26	3.16	2.63	2.93	2.53	2.65	2.50	2.88	2.92

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($598,545K + $644,054K + $422,490K) ÷ $799,969K
= 2.08

The quick ratio of Axon Enterprise Inc has shown a generally stable trend over the past eight quarters, ranging from 2.18 to 2.98. This indicates that the company has consistently maintained a strong ability to cover its short-term liabilities with its most liquid assets.

The increase in the quick ratio from Q1 2022 to Q2 2023 suggests an improved liquidity position, with the ratio peaking at 2.98 in Q2 2023. This uptrend reflects the company's ability to meet its current obligations using its quickly convertible assets.

Overall, the quick ratio values above 1.0 throughout the period indicate that Axon Enterprise Inc has more than enough liquid assets to cover its short-term liabilities, providing a reassuring level of financial health and stability in meeting its immediate payment obligations.