Axon reaffirms FY18 revenue growth view 18%-20%
Sees FY18 adjusted EBITDA margins of 14%-16%, which compares with Adjusted EBITDA margin of 11.6% in 2017. This guidance aligns with our previously communicated outlook to achieve 300 to 400 basis points of operating margin expansion in 2018, excluding integration costs related to the VIEVU acquisition and the non-cash stock-based compensation expense associated with CEO Rick Smith's 10-year compensation plan. Going forward, we will be moving from operating margin to Adjusted EBITDA margin guidance, which provides a simpler and more relevant period-over-period comparison. Sees FY18 normalized tax rate of 20%-25%, which can fluctuate depending on geography of income and the effects of discrete items, including changes in our stock price; and Capital expenditures in the range of $12M-$16M.