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Core Insights - Axon Enterprise, Inc. reported third-quarter 2025 adjusted earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.63, with a year-over-year decrease of 19.3% due to rising operating costs and expenses [1][6] Revenue Performance - Total revenues reached $710.6 million, exceeding the consensus estimate of $700 million, and reflecting a 31% year-over-year increase driven by strong demand for TASER 10, Axon Body 4, and counter-drone equipment, along with growing adoption of premium software solutions [2] Business Segment Performance - **Connected Devices**: Revenues increased by 23.6% year over year to $405.4 million, driven by demand for TASER 10 devices and Axon Body 4, although adjusted gross margin decreased to 52.1% from 54.5% [4] - **Software & Services**: Revenues surged 41.1% year over year to $305.2 million, supported by an increase in users and premium software adoption, with adjusted gross margin improving to 76.8% from 76.3% [5] Margin Profile - Cost of sales rose 32.7% year over year to $283.3 million, while total operating expenses climbed 40% to $429.5 million, leading to a decrease in adjusted gross margin to 62.7% from 63.2% [6] Balance Sheet & Cash Flow - At the end of Q3 2025, cash and cash equivalents stood at $1.42 billion, a significant increase from $454.8 million at the end of 2024. However, net cash used from operating activities was $5.9 million compared to $158.1 million generated in the previous year [7] - Adjusted free cash flow was negative $71.4 million in the first nine months of 2025, down from $117.5 million in the prior-year period [8] Outlook - For Q4 2025, Axon anticipates revenues between $750 million and $755 million, indicating a 31% increase at the midpoint, with projected adjusted EBITDA of $178-$182 million [9] - For the full year 2025, revenues are expected to be around $2.74 billion, reflecting approximately 31% year-over-year growth, with an adjusted EBITDA margin of about 25% [11] Major Developments - Axon signed a definitive agreement to acquire Carbyne for $625 million, expected to close in Q1 2026, pending customary closing conditions [13]

P&L = tracks profit over time.Balance sheet = snapshot of assets and debts.Both reveal different sides of a company’s financial story.https://t.co/EPpAPO36q8 https://t.co/3oiKFfLSAV ...

INVESTOR PRESENTATION CREATING ENERGY | CREATING VALUE NOVEMBER 2025 ADVISORY In this presentation, we refer to certain specified financial measures which do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS"). While these measures are commonly used in the oil and natural gas industry, our determination of these measures may not be comparable with calculations of similar measures presented by other reporting issuers. This presentation also contains oil and ga ...

JUST IN: 🇺🇸 Fed Chair Jerome Powell says "we'll be adding reserves at a certain point" to their balance sheet 👀 https://t.co/bngGQVgsMW ...

Steve Leeman, CNBC. Mr. . Chairman, can you characterize the uh the meeting in terms of you said strongly differing views was this a close call this cut or was it a close call maybe the other way because you had dissents on both sides.Thanks. >> So I was referring to uh the discussion about to the extent it related to December. You saw we had we had two descents, one for 50 and one for no cut.So, um, you know, that was a strong solid vote in favor of this cut. This the strongly, uh, uh, differing views were ...

you know, we we've we've we've just heard from you that that the um the discussion in December and the conclusion of the discussion is not a foregone conclusion. I'd like to just dig into that a little bit more about what sort of arguments were brought up. Was there any consideration for instance of the investment we're seeing in AI and some of the the generation of household wealth through rises in stock prices related to the AI boom.Thank you. You know, I wouldn't say that's a that's that's a factor in ev ...

The Federal Reserve cutting interest rates by a quarter point to a new range of 375 to 4%. There were two descents on this. The second one by new Fed Governor Myron who wanted 50. First one by Kansas City Fed President Jeff Smith who wanted no change.So dissents on both sides. A kind of a rare occurrence for the Fed. The Federal Reserve announcing it is stopping quantitative tightening or the roll off of its balance sheet as soon as December.Um, all rolloffs of treasuries from here on out and mortgage back ...

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Financial Data and Key Metrics Changes - For Q3 2025, funds from operations (FFO) were $0.49 per diluted share, slightly above internal projections, supported by leasing progress and disciplined expense management [3][14] - Total revenue for the quarter was $110 million, with net income attributable to common stockholders at $0.07 per diluted share [14] - Same-store cash NOI combined decreased by 0.8% compared to Q3 2024, reflecting a transition year [15] Business Line Data and Key Metrics Changes - The office portfolio ended the quarter 82% leased, with same-store office NOI increasing by 3.6% compared to Q3 2024 [4][15] - The retail portfolio was 98% leased, with same-store retail NOI declining by 2.6% due to credit-related rent losses [7][16] - The multifamily portfolio's same-store NOI declined by 8.3%, impacted by supply headwinds in San Diego [9][16] Market Data and Key Metrics Changes - The broader economic backdrop remains mixed, with interest rates stabilizing and inflation moderating but still above long-term targets [4] - Retail availability remains near record lows nationally, with asking rents continuing to rise [7] - In San Diego, multifamily occupancy improved to 94% leased, with recent leasing momentum noted [9] Company Strategy and Development Direction - The company focuses on owning irreplaceable coastal assets and maintaining a strong balance sheet, emphasizing long-term value creation [3][4] - The strategy includes converting leasing momentum into signed leases and sustaining positive leasing spreads across office and retail sectors [12] - The company is optimistic about capturing demand in healthy office submarkets, particularly with new developments like La Jolla Commons Tower 3 [6][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledges a mixed economic environment but remains confident in the long-term fundamentals of their assets [4][16] - There is optimism regarding leasing activity and potential recovery in tourism, particularly in Hawaii, as outbound travel trends improve [11][17] - The company anticipates raising its full-year 2025 guidance range to $1.93 to $2.01 per FFO share, reflecting year-to-date performance [19] Other Important Information - The board approved a quarterly dividend of $0.34 per share for Q4, payable on December 18 [13] - The company has total liquidity of approximately $539 million, with a net debt to EBITDA ratio of 6.7 times [18] Q&A Session Summary Question: Update on leasing pipeline for La Jolla Commons Tower 3 and One Beach Street - Management noted increased activity and signed leases with an international bank, indicating positive momentum towards stabilization [22][23] Question: Known move-outs for 2026 - Management forecasted about 180,000 square feet of potential move-outs but expressed confidence in strong leasing activity to offset this [26] Question: Current leverage profile and plans to reduce it - Management outlined plans to lease up One Beach Street and La Jolla Commons Tower 3 to improve leverage ratios, aiming for a net debt to EBITDA ratio below 6 times [28][29] Question: Multifamily segment performance and expectations - Management expects stability to improve as supply is absorbed and expenses normalize, with recent leasing success noted in San Diego [34][38] Question: Active tenant industries in the office market - Management highlighted a strong interest from AI-driven companies and law firms, indicating a flight to quality in leasing trends [40][41]