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Axon Enterprise, Inc. (symbol: AXON) is a leading innovator in public safety technology, founded in 1993. The company, formerly known as TASER International, revolutionized less-lethal weaponry with its conducted electrical weapons (CEWs), providing a safer alternative for law enforcement. Today, Axon's suite of connected products, including body cameras and evidence management solutions, is used by over 18,000 agencies worldwide, promoting transparency and efficiency.
Axon operates in two primary segments: Taser and Software & Sensors. The Taser segment develops and sells conducted energy devices and virtual reality training solutions. The Software & Sensors segment produces integrated hardware and cloud-based software, such as body cameras, automated license plate readers, and digital evidence management systems. Axon's products enhance modern policing through innovative solutions, such as Axon Body 4 cameras and TASER 10 devices, which improve safety and operational efficiency.
In recent news, Axon announced third-quarter 2023 financial results, showing a seventh consecutive quarter of over 30% year-over-year revenue growth. The company also reported significant gains in its Axon Cloud & Services segment, which grew by 55% year-over-year. Axon’s international revenue increased by 52%, driven by new customer acquisitions and expanded cloud and software offerings.
Axon is committed to its moonshot goal of reducing gun-related deaths between police and the public by 50% before 2033. The company’s recent initiatives include the launch of the TASER 10, enhanced virtual reality training capabilities, and the introduction of a comprehensive public safety gun fatality database. Axon also supports disaster response efforts and participates in major industry conferences, further establishing its leadership in public safety technology.
For career opportunities, visit https://www.axon.com/company/careers. For more information about the company, visit www.axon.com.
Loomis US is deploying over 2,000 Axon Body 4 cameras to its vehicle armored service technicians nationwide, along with licenses to Axon Evidence digital management system. The implementation aims to enhance safety, provide real-time situational awareness, and improve transparency in pick-up and deliveries. Early trials have demonstrated increased client visibility and reduced claim errors. Loomis, with nearly 200 branch locations, 11,000 employees, and 3,300+ vehicles, will use the technology to improve route efficiency and provide seamless evidence sharing with law enforcement when needed.
Axon (AXON) has won a competitive contract to supply the Royal Canadian Mounted Police (RCMP) with Axon Body 4 body-worn cameras and Axon Evidence digital management system. The deployment will equip over 10,000 RCMP officers across Canada's rural, urban, and remote locations. The Axon Ecosystem provides seamless integration between hardware and software, featuring AI-powered tools for efficient evidence management, automatic video uploads to secure cloud storage, and advanced features for quick location, transcription, and redaction of critical footage.
Axon reported strong Q3 2024 results with revenue of $544 million, up 32% year over year. TASER revenue grew 36% to $222 million, while Cloud & Services revenue increased 36% to $203 million. The company achieved net income of $67 million with a 12.3% margin and Adjusted EBITDA of $145 million. Annual recurring revenue grew 36% to $885 million.
The company raised its full-year revenue outlook to approximately $2.07 billion, representing over 32% annual growth, with expected Adjusted EBITDA margin of 24.6%. Q4 revenue guidance is set at $560-570 million.
Axon (Nasdaq: AXON) has scheduled its Q3 2024 earnings release for November 7, 2024, after market close. The company will host a live Zoom video webinar to discuss financial results at 5 p.m. ET, followed by a Q&A session. Additionally, Axon announced its participation in three upcoming conferences: the Northcoast 2024 Fall Management Forum on November 13, the Needham Virtual SaaS 1x1 Conference on November 21, and the Barclays Global Technology Conference on December 11, 2024.
Axon announced that the Campbell Police Department in California received a groundbreaking FAA waiver for beyond visual line of sight (BVLOS) operations in its Drone as First Responder (DFR) program. This first-of-its-kind approval includes nighttime operations and allows the department to fly missions using DedroneBeyond technology without visual observers.
The waiver enables 24/7 drone use, improving response times and safety. Campbell PD can now use DedroneBeyond's ground-based detect and avoid system for both daytime and nighttime operations, with drones deployed up to 400 feet altitude. The DFR program integrates technology from Dedrone by Axon, Axon Air Remote powered by DroneSense, and MatrixSpace, providing a unified view for airspace awareness and mission control.
Repairify, a global leader in automotive repair technologies, has announced two key additions to its leadership team at asTech®. Mike Gugino joins as Chief Revenue Officer, bringing experience from Axon (NASDAQ: AXON), investment banking, and military service. Kennedy Taylor takes the role of Senior Vice President of Marketing, with over a decade of marketing expertise.
Gugino's background includes managing global sales and operations at Axon, investment banking roles at Evercore Partners and J.P. Morgan, and military service as an Army Airborne Ranger. Taylor is known for her skills in brand development, digital marketing, and successful product launches. She has been a keynote speaker for Google on marketing trends.
Craig Edmonds, asTech's president, expressed confidence that these appointments will drive growth, expand market presence, and enhance the company's brand and outreach in providing cutting-edge diagnostic and calibration solutions.
Axon reported Q2 2024 revenue of $504 million, a 35% year-over-year increase, and raised its full-year revenue outlook to $2.00-$2.05 billion.
Net income was $41 million, supporting non-GAAP net income of $93 million and Adjusted EBITDA of $123 million. Axon Cloud & Services revenue surged 47% to $195 million, while annual recurring revenue grew 44% to $850 million. The company achieved a net income margin of 8.1% and an Adjusted EBITDA margin of 24.5%.
Key growth drivers included Axon Evidence, AI-driven products like Draft One, and strong sales of TASER 10 and Axon Body 4 cameras. Despite increased stock-based compensation expenses, Axon maintained a positive outlook, projecting 29.5% annual revenue growth.
Operating cash flow increased to $83 million, supporting free cash flow of $71 million. Axon had $969 million in cash and equivalents as of June 30, 2024.
Axon (Nasdaq: AXON), a leader in public safety technology, has announced its schedule for releasing second quarter 2024 financial results. The company will report its earnings after market close on Tuesday, August 6, 2024, followed by a live Zoom video webinar at 5 p.m. ET to discuss the results and conduct a Q&A session.
Investors can access the webinar link and an archived replay from Axon's investor relations website. Additionally, Axon has confirmed its participation in three upcoming conferences:
- Northcoast Research Summer Management Forum on August 7
- Jefferies Semiconductor IT Hardware & Communications Technology Summit on August 28
- Goldman Sachs 2024 Communacopia + Technology Conference on September 11
These events, if applicable, will be webcast live and archived on Axon's investor relations website.
Axon (Nasdaq: AXON), a leader in public safety technology, announced that the U.S. Marshals Service (USMS) has deployed TASER 10, their latest less-lethal energy weapon. The new TASER can deploy 10 individually targeted probes at distances of up to 45 feet, enhancing safety and decision-making capabilities. Additionally, the USMS will pilot Axon's VR Training solution, which offers immersive, cost-effective training for real-world scenarios. This initiative aims to improve the performance and safety of Deputy U.S. Marshals engaged in fugitive apprehension, judiciary security, and witness protection. The TASER 10's integration with Axon's body-worn cameras will provide automatic activation and enhance situational awareness and accountability.
Axon and Skydio have partnered to launch an end-to-end drone solution for public safety, including a scalable 'Drone as First Responder' (DFR) system. The DFR allows drones to be dispatched to emergency calls, arriving before ground units to provide real-time situational awareness. This collaboration aims to improve incident response times, enhance safety, and optimize resource allocation. The offering includes Skydio’s autonomous drones, docking stations, and integrated flight control software, along with Axon’s real-time operations, crime center capabilities, and evidence management tools. This integrated solution promises to make DFR a reality for public safety agencies across the U.S., enhancing community safety and operational efficiency.
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