The Marked Chart Wire · Series of events
Series of events · Axon
Axon misses earnings, then invests $1.2 billion in Skydio
Axon reported a quarterly miss and a stock drop before announcing a major investment in drone maker Skydio.
Updated
The flow in 3 points
- EPS of $1.72 missed the $1.89 estimate
- Revenue of $908.6 million missed the $934.3 million forecast
- Axon invests $1.2 billion in Skydio for drone rights
What happened, in order
Times are Eastern-
Where it began
Earnings miss estimates
Axon reported EPS of $1.72 and revenue of $908.6 million, missing estimates of $1.89 and $934.3 million.
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Shares hit two-year low
Shares fell to a two-year low after the revenue miss, attributed to delays in Federal Dedrone deployments.
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Latest
Axon agreed to invest $1.2 billion in Skydio for sole North American sales rights to emergency services.
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How they connect
Axon first reported quarterly results that missed analyst estimates for both earnings and revenue. Following the stock drop linked to deployment delays, the company announced a $1.2 billion investment in Skydio to secure drone sales rights.
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