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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.
Axon (NASDAQ: AXON) has appointed Josh Isner as the new Chief Operating Officer. Isner previously served as Chief Revenue Officer, contributing to revenue growth exceeding $1 billion and annual growth rates above 25%. In his new role, he will oversee operational functions and help drive Axon's growth strategy. Isner expressed gratitude for the trust from the team, customers, and shareholders, emphasizing a commitment to delivering value and enhancing public safety. This management change aims to strengthen leadership and operational execution.
Axon has initiated development on a non-lethal TASER drone system aimed at quickly addressing mass shooting incidents. The drone is designed to incapacitate shooters within 60 seconds, enhancing public safety through improved real-time situational awareness.
The strategy includes integrating camera networks with first responders and providing immersive VR training for enhanced preparedness. A key emphasis is on ethical use, with an authentication framework ensuring human accountability. The full operational proof of concept is expected in 2023, with the complete system ready by 2024.
Axon (NASDAQ: AXON) has launched its Virtual Reality (VR) Simulator Training, with Phoenix PD as one of the first users. This immersive training focuses on enhancing critical thinking and de-escalation skills for law enforcement officers. The platform allows training anytime, anywhere, reducing costs and time associated with traditional training. A study showed over 81% of participants found the VR modules effective in adapting their response approaches. The VR training combines the HTC VIVE Focus 3 headset with a portable design for ease of use and deployment.
Axon and Skydio have partnered to enhance public safety through the integration of Skydio's drones with Axon Respond, a real-time operations platform. This collaboration will allow agencies to access live drone feeds alongside existing body-worn and in-car camera footage, improving situational awareness and evidence management. The integration supports wireless streaming and will be available to customers later this year, backed by a comprehensive program management platform for drone operations.
Axon and Fūsus have announced a strategic partnership aimed at improving real-time crime response for public safety agencies. This collaboration will enhance Axon Respond and Fūsus' Real-Time Crime Center in the Cloud (RTC3) to integrate live video and sensor data from various sources, including CCTV and connected devices like Axon Body 3 and Fleet 3 cameras. The partnership also includes a $21 million minority investment from Axon into Fūsus to further advance their technology and collaboration, enhancing situational awareness and operational efficiency for law enforcement agencies.
Axon reported a strong start to the year, with first quarter revenue growth of 32%, driven by high demand for its solutions. Net income reached $55 million, and Adjusted EBITDA was $49 million. Operating cash flow was $44 million, with adjusted free cash flow of $32 million. The company anticipates annual revenue growth of 25% for the full year, supported by a 52% increase in bookings year over year in Q1, indicating robust market momentum.
Axon, a leader in connected public safety technologies, will report its Q1 2022 financial results after market close on May 10, 2022. A live webinar is scheduled for 5 p.m. ET on the same day to discuss these results. Additionally, Axon management will participate in multiple upcoming conferences, including the 17th Annual Needham Virtual Technology & Media Conference on May 16, 2022 and the 19th Annual Craig-Hallum Institutional Investor Conference on June 1, 2022.
Jim Zito has been appointed as interim Chief Financial Officer of Axon, succeeding Jawad Ahsan, who resigned to pursue other opportunities. The company has raised its 2022 revenue guidance to between $1.05 billion and $1.1 billion, marking a projected annual growth of 25%. Additionally, Axon affirmed its long-term revenue growth target of over 20% CAGR and updated its Adjusted EBITDA guidance to a range of $190 million to $200 million. Zito aims to maintain the momentum in Axon's financial performance during this transition.
Axon (Nasdaq: AXON) announced a 5-year contract with the Columbus Division of Police to deploy 2,000 Axon Body 3 cameras, 75 Axon Flex 2 cameras, and 460 Axon Fleet 3 in-car camera systems, among other technologies. This partnership aims to enhance public safety by allowing faster response times and better data management. The order was received in Q1 2022 and will commence shipping in May 2022. Axon's technology is designed to improve officer safety and community protection while providing unlimited 3rd party storage through Axon Evidence.
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