Revenues

3 Months Ended

Mar. 31, 2022

Revenues

Revenues

Note 2 - Revenues

Nature of Products and Services

The following tables present our revenues by primary product and service offering (in thousands):

	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
			Software and						Software and
	TASER		Sensors		Total		TASER		Sensors		Total
TASER 7	$	50,066	$	—	$	50,066	$	33,991	$	—	$	33,991
TASER X26P		9,479		—		9,479		9,963		—		9,963
TASER X2		3,619		—		3,619		12,778		—		12,778
TASER Consumer devices		1,696		—		1,696		2,205		—		2,205
Cartridges		37,825		—		37,825		30,418		—		30,418
Axon Body		—		29,708		29,708		—		19,756		19,756
Axon Flex		—		1,329		1,329		—		905		905
Axon Fleet		—		13,820		13,820		—		3,763		3,763
Axon Dock		—		7,480		7,480		—		6,920		6,920
Axon Evidence and cloud services		3,017		79,939		82,956		1,396		52,294		53,690
Extended warranties		6,679		9,061		15,740		5,646		7,500		13,146
Other		1,979		729		2,708		2,602		4,882		7,484
Total	$	114,360	$	142,066	$	256,426	$	98,999	$	96,020	$	195,019

The following table presents our revenues disaggregated by geography (in thousands):

	Three Months Ended March 31,
	2022				2021
United States	$	214,214	84	%	$	160,386	82	%
Other countries		42,212	16			34,633	18
Total	$	256,426	100	%	$	195,019	100	%

Contract Balances

The following table presents our contract assets, contract liabilities and certain information related to these balances as of and for the three months ended March 31, 2022 (in thousands):

	March 31, 2022
Contract assets, net	$	177,477
Contract liabilities (deferred revenue)		467,565
Revenue recognized in the period from:
Amounts included in contract liabilities at the beginning of the period		104,043

Contract liabilities (deferred revenue) consisted of the following (in thousands):

	March 31, 2022						December 31, 2021
	Current		Long-Term		Total		Current		Long-Term		Total
Warranty:
TASER	$	27,476	$	1,401	$	28,877	$	21,257	$	4,766	$	26,023
Software and Sensors		21,736		15,621		37,357		23,175		18,137		41,312
		49,212		17,022		66,234		44,432		22,903		67,335
Hardware:
TASER		38,828		3,618		42,446		12,944		28,727		41,671
Software and Sensors		50,151		71,408		121,559		34,862		81,223		116,085
		88,979		75,026		164,005		47,806		109,950		157,756
Services:
TASER		4,309		2,066		6,375		2,701		3,482		6,183
Software and Sensors		184,127		46,824		230,951		170,652		49,386		220,038
		188,436		48,890		237,326		173,353		52,868		226,221
Total	$	326,627	$	140,938	$	467,565	$	265,591	$	185,721	$	451,312

	March 31, 2022						December 31, 2021
	Current		Long-Term		Total		Current		Long-Term		Total
TASER	$	70,613	$	7,085	$	77,698	$	36,902	$	36,975	$	73,877
Software and Sensors		256,014		133,853		389,867		228,689		148,746		377,435
Total	$	326,627	$	140,938	$	467,565	$	265,591	$	185,721	$	451,312

Remaining Performance Obligations

As of March 31, 2022, we had approximately $2.97 billion of remaining performance obligations, which included both recognized contract liabilities as well as amounts that will be invoiced and recognized in future periods. The remaining performance obligations are limited only to arrangements that meet the definition of a contract under Topic 606 as of March 31, 2022. We expect to recognize between 15% - 20% of this balance over the next twelve months, and generally expect the remainder to be recognized over the following five to seven years, subject to risks related to delayed deployments, budget appropriation or other contract cancellation clauses.