Axon Enterprise - AXON STOCK NEWS

Axon, the public safety technology leader, announced a commitment to reduce gun-related deaths between police and the public by 50% by 2033, during the IACP conference in Dallas. The initiative involves collaboration with law enforcement and community leaders and funding third-party research by the Institute for Intergovernmental Research. In 2021, 1,118 individuals died in such incidents. The company aims to enhance technology and training for law enforcement, focusing on non-lethal tools and better data collection.

The U.S. Department of Veterans Affairs (VA) has signed a $60 million IDIQ contract to deploy Axon's digital evidence management and AI technologies across all Veterans Integrated Services Networks (VISNs). This includes Axon Fleet 3 in-car cameras, Axon Body 3 cameras, and Axon Respond software. The FedRAMP-authorized platform ensures secure storage of digital evidence. This partnership highlights VA's commitment to enhancing security for Veterans and efficiency for officers, while also reinforcing Axon's position in the federal market.

Axon has appointed Andrea James as the new Chief Communications Officer, responsible for corporate communications including investor and media relations. Andrea previously held the position of SVP Corporate Strategy and Investor Relations and has a strong background in business analysis and reporting. This leadership change follows the announcement of Brittany Bagley as Chief Financial Officer. With the goal to grow revenue beyond $1 billion, Andrea aims to enhance the company's narrative and global presence in public safety technologies.

Axon (Nasdaq: AXON) has announced that Wellstar Health, a significant health system in Georgia, will equip its hospital security officers with TASER 7 devices and provide de-escalation training. This initiative aims to enhance safety across Wellstar's network, which serves one out of six Georgians and employs over 24,000 staff members. The partnership signifies Wellstar's commitment to improving workplace safety and violence prevention in healthcare settings, promoting a safer environment for patients and staff alike.

Axon (Nasdaq: AXON) has established an independent Ethics & Equity Advisory Council (EEAC) to guide the ethical development of new technologies. This council, led by Regina Holloway, aims to integrate community feedback into product design, placing an emphasis on racial equity and ethics. The EEAC includes notable members from various fields, such as Dr. Desmond Patton and Bertha Purnell, and will convene monthly to address technology-related concerns. This initiative reaffirms Axon's commitment to ensuring that its products meet the needs of diverse communities, vital for the future of public safety.

Axon (NASDAQ: AXON) announces that the Fairfax County Police Department (FCPD) is the first member of the Major City Chief's Association to implement Axon's My90 platform. This new community engagement tool allows the FCPD to collect confidential feedback from residents following service calls. In two months, over 3,000 responses have been gathered, helping the agency to understand public perceptions and improve services. The collaboration aims to foster trust and enhance public safety by encouraging genuine community engagement.

Axon has appointed Brittany Bagley as the new Chief Financial Officer and Chief Business Officer, effective September 26, 2022, replacing Jim Zito. Bagley, formerly CFO at Sonos, brings 17 years of financial experience, including a background at KKR & Co. and Goldman Sachs. Axon’s CEO, Rick Smith, expressed confidence in her ability to guide the company’s finance organization during its growth phase. Bagley aims to leverage Axon’s rapid software growth to enhance profitability and shareholder value.

Axon reported a strong second quarter in 2022, achieving 286 million in revenue, a 31% year-over-year increase. The growth was driven by Axon Cloud SaaS solutions and TASER 7 device adoption. The company boasts an annual recurring revenue of 368 million, reflecting 41% growth, with future contracted revenue exceeding 3 billion. Net income for the quarter was 51 million, or 0.71 per diluted share. In strategic moves, Axon renewed its partnership with Microsoft Azure and appointed new executives, positioning itself for continued growth.

Axon (Nasdaq: AXON) will release its second quarter 2022 financial results on August 9, 2022, after market close. A live Zoom webinar for discussing the results will take place at 5 p.m. ET on the same day. Investors can access the presentation and follow-up Q&A through Axon’s investor relations website. An archived replay will be available post-call. Axon focuses on enhancing public safety through connected technologies, having reportedly saved over 269,000 lives and significant funds to date.