Welcome to our dedicated page for Axon Enterprise news (Ticker: AAXN), a resource for investors and traders seeking the latest updates and insights on Axon Enterprise stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Axon Enterprise's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Axon Enterprise's position in the market.
Axon (Nasdaq: AAXN) will change its ticker symbol to "AXON" effective January 26, 2021. The announcement was made in Scottsdale, Arizona, where Axon's CFO Jawad Ahsan emphasized the change symbolizes the company's commitment to transparency and reform in public safety. The company aims to enhance community relationships and promote justice through technology, stating it has saved over 244,000 lives and significant financial resources since its inception. Axon intends to drive change in law enforcement and community interactions, showcasing its dedication to societal improvement.
On January 15, 2021, Axon (Nasdaq: AAXN) announced the renewal of a 5-year contract with the Los Angeles Police Department (LAPD) for 5,260 TASER 7 energy weapons and 355 Axon Body 3 cameras. This renewal elevates LAPD's total Axon body camera deployment to 7,355 and TASER 7 energy weapons to 7,530, marking it as the largest deployment in the U.S. Additional orders from various police departments were also highlighted, reinforcing Axon's position as a leader in public safety technology.
Axon, a leader in connected law enforcement technologies, announced a partnership with the Green Bay Packers on Dec. 16, 2020. The Green Bay Police Department will receive 190 Axon Body 3 cameras, 45 in-car cameras, and 150 TASER 7 devices under a five-year Officer Safety Plan 7+. This initiative follows community efforts for social justice and aims to boost transparency and public safety. The technology includes various software tools like Virtual Reality Empathy Training and Axon Records, enhancing police efficacy and community trust.
Axon (Nasdaq: AAXN) has appointed Carmen Best, former Seattle police chief, to its AI Ethics Board to guide the responsible development of AI technologies. Best, who has a nearly 30-year career in policing and is recognized for her commitment to diversity in law enforcement, supports Axon's focus on ethical AI, particularly regarding its effects on communities of color. The board aims to ensure transparency and accountability in Axon's AI product development to enhance public safety. For more details on the board's work, visit www.axon.com/ethics.
Axon reported significant growth in Q3 2020, with bookings up 62% sequentially and 56% year-over-year, driven by strong demand for body cameras and cloud software. Federal bookings surged to a record $38 million, a 400% increase from the previous year. Revenue reached $166 million, a 27% year-over-year rise, with gross margin at 59%. The company has doubled its high-margin annual recurring revenue to over $200 million. International revenue also grew 15% year-over-year, contributing to a solid financial foundation with zero debt and cash reserves of $628 million.
Axon (Nasdaq: AAXN), a leader in law enforcement technology, has launched its Sprint for Justice initiative, introducing eight new product features aimed at enhancing racial equity, diversity, and inclusion within public safety. Developed by over 200 engineers, the features include tools for video auditing, use of force reporting, and interactive training. This initiative aligns with Axon's commitment to addressing systemic inequity in law enforcement, following the social unrest sparked by the death of George Floyd.
Axon (AAXN) will report its third quarter 2020 financial results on November 5, 2020, after market close. A live webinar hosted by CEO Rick Smith, President Luke Larson, and CFO Jawad Ahsan will follow at 5 p.m. ET, covering financial results and a Q&A session.
Axon is set to participate in several upcoming conferences: Northcoast Research 2020 Fall Conference on November 18, Raymond James Technology Conference on December 8, and Needham Virtual Growth Conference on January 11, 2021.
On September 30, 2020, Axon (AAXN) announced a $13 million contract with the U.S. Customs & Border Protection Agency to equip 3,800 border patrol agents with Axon Body 3 cameras and Axon Evidence, a cloud-based digital evidence management system. The contract aims to enhance agent safety and accountability through the deployment of Incident-Driven Video Recording System (IDVRS) starting in spring 2021 across several USBP sectors. This strategic partnership aims to improve efficiency and transparency in law enforcement.
Axon (Nasdaq: AAXN) announced that CFO Jawad Ahsan will partake in a fireside chat at the Raymond James North American Equities Conference on September 17, 2020. The event will be available for live streaming and archived on Axon's investor relations website. Axon is known for its technology that enhances public safety, with over 428,600 software seats booked globally, positively impacting numerous lives and resources.
Axon (Nasdaq: AAXN) announced that the UK police can now purchase and deploy its TASER 7, a cutting-edge Conducted Energy Device (CED). Approved by Home Secretary Priti Patel, officers will begin training before year's end. The TASER 7 integrates with Axon Evidence for efficient device management and improved reliability. Features include enhanced de-escalation capabilities and automated usage logs. The TASER 7 is currently available in the UK, US, Australia, and New Zealand, marking a significant advancement in law enforcement technology.
