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Axon (Nasdaq: AAXN) announced a record attendance of 10,150 public safety professionals at its first virtual Axon Accelerate user conference held on August 25, 2020. The conference, which included diverse public safety agencies, featured over 25 sessions on critical topics like police reform and virtual reality training. A correction was made regarding Axon Records, revealing that only 23 agencies are implementing this solution, supporting almost 11,000 users. Axon's mission is to enhance public safety through connected technologies, having reportedly saved over 237,000 lives to date.
On August 25, 2020, Axon (Nasdaq: AAXN) announced the launch of six new training scenarios as part of its Virtual Reality (VR) Training program. These scenarios focus on officer intervention, post-traumatic stress injury (PTSI) training, and communication strategies for individuals with Alzheimer's, dementia, or hearing impairments. Available to law enforcement agencies, the first two scenarios will launch in Q4 2020, while the remaining four will be offered in the first half of 2021. The initiative aims to enhance officer preparedness and community relations.
Axon (Nasdaq: AAXN) launched Axon Respond, a unified real-time operations platform designed for public safety. This cloud-based platform enhances incident management and situational awareness, enabling faster response times and improved communication for law enforcement. The Maricopa Police Department is the first to implement the system. Key features include real-time visibility into field situations, unified messaging, improved coordination, and tiered user licensing options. Axon aims to revolutionize public safety operations with this innovative technology.
Axon (Nasdaq: AAXN) announced the launch of its Axon Auto-Transcribe features, designed to streamline evidence review for public safety agencies. Two initial tools, Review Assistant and Transcription Assistant, utilize AI to enhance the transcription process, potentially saving agencies 65-75% of time spent on video evidence. Agencies including Fredericton Police Force and Rowlett Police Department are already utilizing these tools. Axon aims to improve efficiencies in evidence management, and future updates will include automatic event highlighting.
Axon (Nasdaq: AAXN) has formed an exclusive partnership with Fotokite to enhance its Axon Air program. This collaboration allows law enforcement agencies to utilize Fotokite's actively tethered Unmanned Aerial System (UAS) for real-time live-streaming and evidence management within Axon Evidence, increasing operational efficiency. Key benefits include autonomous flight capabilities, real-time situational awareness, and simplified program management, which eliminate the need for drone pilot licenses. The integration will be available to U.S. and Canadian law enforcement starting in 2021, with pricing details forthcoming.
Axon (Nasdaq: AAXN) announced on Aug. 21, 2020, that Toronto Police Service (TPS) is deploying 2,350 Axon Body 3 cameras, along with an additional 3,000 licenses for Axon Evidence, totaling 5,350. This deployment follows an extensive vendor review process, aiming to enhance community relations, reduce IT infrastructure costs, and improve digital evidence management. The phased shipment will begin in August 2020. Axon is focused on providing transparency and efficiency through its innovative technology, benefiting both law enforcement and the community.
On August 20, 2020, Axon (AAXN) announced a partnership with Occam Video Solutions to enhance its video evidence management system, Axon Evidence. This integration allows law enforcement agencies to convert and play back third-party video evidence accurately, addressing the challenges of managing diverse video formats. By using Occam's iNPUT-ACE software, agencies can ensure a complete and reliable analysis of video evidence, vital for investigations. Axon aims to improve transparency and community trust through this innovation.
Axon reported a strong Q2 2020 with revenue of $141 million, up 26% year-over-year, driven by body cameras and cloud software solutions. International revenue soared by 80%, contributing to 24% of total sales. Adriane Brown joined the board, strengthening leadership. Gross margin reached 62.4%, though expected to decrease in Q3 due to large shipments of body cameras. Adjusted EBITDA increased 142% year-over-year to $28 million. Despite a GAAP EPS of ($0.51), the company maintained a robust cash position of $675 million with zero debt.
Axon (Nasdaq: AAXN) announced confirmed sponsorship for the Axon Accelerate event from major companies including Microsoft, Verizon, Cradlepoint, and FirstNet. The event will be held virtually on August 25, 2020, due to the COVID-19 pandemic. Attendees can expect key discussions and product announcements tailored for public safety professionals. Following the event, a certification day will take place on August 26, offering training on Axon products. The initiative reflects Axon's commitment to adapt and enhance its offerings in a rapidly changing environment.
Axon (Nasdaq: AAXN) announces the appointment of Regina Holloway as its new VP of Community Impact effective July 13, 2020. Holloway aims to enhance community relationships and promote racial equity, diversity, and inclusion within the justice system. Her previous experience includes roles at NYU's Policing Project and Suffolk University Law School. Axon's mission focuses on empowering public safety personnel through innovative technologies, already impacting over 233,000 lives globally.
