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  "documentTitle": "Axon Enterprise (formerly TASER) (AAXN)",
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  "presentationDate": "2019-06-19 00:00:00",
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  "notes": "The slide uses a table to highlight the discrepancy between claimed contingent consideration and the balance sheet entries.",
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      "kind": "callout",
      "text": "Axon: \"Additionally, the purchase price consisted of contingent consideration of up to $6.0 million, or 141,226 additional shares of common stock, if certain conditions relating to retention of certain VIEVU customers are met as of the first and second anniversaries of the acquisition date. The fair value of the contingent consideration as of the acquisition date was $5.8 million\".",
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      "text": "Therefore, we conclude either it never recorded VIEVU's contingent consideration, or it abruptly wrote it down to zero by year end which would signal its failure.",
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      "text": "Contingent Consideration Liability: $0.0",
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      "text": "Though Axon claims the VIEVU deal contained contingent consideration for future milestones, it does not appear to have recorded the liability on its balance sheet, as we would have expected the account to increase in Q2’19. Instead, by the end of 2018, Axon stopped reporting any contingent consideration and made just $2.3m of payments all year, as reported through the cash flow statement. Therefore, we conclude either it never recorded VIEVU’s contingent consideration, or it abruptly wrote it down to zero by year end which would signal its failure.",
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      "text": "Additionally, the purchase price consisted of contingent consideration of up to $6.0 million, or 141,226 additional shares of common stock, if certain conditions relating to retention of certain VIEVU customers are met as of the first and second anniversaries of the acquisition date. The fair value of the contingent consideration as of the acquisition date was $5.8 million. — Axon",
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      "text": "Source: Axon Financials",
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      "text": "Table showing contingent consideration liability vs cash payments across 2018 quarters.",
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      "kind": "title",
      "text": "VIEVU Failure As Seen Through Contingent Consideration",
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