Company Performance - Axon Enterprise reported quarterly earnings of $1.20 per share, exceeding the Zacks Consensus Estimate of $1.06 per share, and up from $1.11 per share a year ago, representing an earnings surprise of 13.21% [1] - The company achieved revenues of $504.1 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5.70%, and an increase from $374.61 million year-over-year [1] - Over the last four quarters, Axon has consistently surpassed consensus EPS and revenue estimates [1] Future Outlook - The stock's immediate price movement will largely depend on management's commentary during the earnings call and future earnings expectations [2] - Current consensus EPS estimate for the upcoming quarter is $1.18 on revenues of $511.22 million, and for the current fiscal year, it is $4.64 on revenues of $1.98 billion [4] - The estimate revisions trend for Axon is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [4] Industry Context - The Security and Safety Services industry, to which Axon belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Applied DNA Sciences, is expected to report a quarterly loss of $0.64 per share, reflecting a year-over-year change of +86.7%, with revenues projected to decline by 67.5% from the previous year [5]

Financial Performance & Guidance - Axon is increasing its full-year 2024 revenue guidance from a range of $1.94 billion to $1.99 billion to a new range of $2.00 billion to $2.05 billion[74] - The midpoint revenue growth is now projected at 29.5%, up from the previous estimate of 26%[75] - The full-year Adjusted EBITDA is also being raised from a range of $430 million to $445 million to a new range of $460 million to $475 million[75] - Axon's Annual Recurring Revenue (ARR) reached $850 million as of Q2 2024[105] - Axon Cloud & Services revenue for Q2 2024 was $194.699 million, demonstrating a 47% Compound Annual Growth Rate (CAGR) from Q2 2020 to Q2 2024[104] Market Opportunity & Penetration - Axon estimates its Total Addressable Market (TAM) to be $77 billion[9, 33] - Fleet in-car cameras have a significant growth runway, with a TAM assuming approximately 800,000 vehicles in scope for the US and 650,000 internationally[63] - Axon has a strong customer base of 17,000+ public safety agencies globally, with a net revenue retention rate of 122%[9, 27] Product & Service Ecosystem - Axon is a market leader in cloud-powered integrated hardware and software for public safety[9] - Axon's technology platform is revolutionizing public safety, driven by a mission to protect life, capture truth, and accelerate justice[9] - Axon offers integrated bundles, such as the Officer Safety Plan 10+ Premium, with recurring cash flows, where over 90% of cash flows are recurring[100, 103]

Exhibit 99.1 CONTACT: Investor Relations Axon Enterprise, Inc. IR@axon.com Axon reports Q2 2024 revenue of $504 million, up 35% year over year, raises outlook ● Axon Cloud & Services revenue grows 47% to $195 million ● Annual recurring revenue grows 44% to $850 million ● Net income of $41 million supports non-GAAP net income of $93 million and Adjusted EBITDA of $123 million ● Raises full year revenue outlook to a range of $2.00 billion to $2.05 billion, up from $1.94 billion to $1.99 billion Fellow shareho ...

Core Insights - Analysts forecast Axon Enterprise (AXON) to report quarterly earnings of $1.06 per share, reflecting a year-over-year decline of 4.5% and revenues of $476.92 million, which is an increase of 27.3% compared to the previous year [1] - There has been a downward revision of 3.6% in the consensus EPS estimate over the last 30 days, indicating a reconsideration of initial forecasts by analysts [1] Revenue Estimates - 'Net Sales- Software and Sensors' are expected to reach $296.36 million, showing a year-over-year increase of 34.6% [2] - 'Revenue- TASER' is projected at $180.71 million, indicating a change of +17% from the prior-year quarter [2] - 'Net Sales- Services- Software and Sensors' are forecasted to be $188.25 million, reflecting a year-over-year increase of 41.9% [2] Product Sales Estimates - 'Net Sales- Products- Software and Sensors' are anticipated to be $107.38 million, with a year-over-year change of +22.6% [3] - 'Net Sales- Products' are expected to reach $277.97 million, indicating a change of +19.1% from the previous year [3] - 'Net Sales- Services' are projected at $195.56 million, reflecting a year-over-year increase of 38.6% [3] - 'Net Sales- Products- TASER' are estimated to be $172.19 million, indicating a change of +18% from the prior-year quarter [3] - 'Net sales by Product- Software and Sensors segment- Axon Evidence and cloud services' are expected to be $189.07 million, reflecting a year-over-year change of +43.1% [3] Additional Sales Estimates - 'Net Sales- Services- TASER' are projected to reach $11.55 million, indicating a change of +35.9% from the prior-year quarter [4] - 'Net sales by Product- Software and Sensors segment- Axon Fleet' is estimated at $30.02 million, reflecting a decrease of 16.5% from the previous year [4] - 'Net sales by Product- Software and Sensors segment- Axon Body' is expected to be $52.79 million, indicating a year-over-year increase of 61.1% [4] - 'Net Sales- Products- TASER- Cartridges' are projected at $57.69 million, reflecting a change of +19.1% from the prior-year quarter [4] Stock Performance - Shares of Axon have experienced a change of +1.2% in the past month, compared to a +1.1% move of the Zacks S&P 500 composite [4]

The market expects Axon Enterprise (AXON) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 6, 2024, might help the stock move higher if these key numbers are ...

Company Overview - Axon Enterprise (AXON) closed at $310.81, reflecting a -0.73% change from the previous day, underperforming the S&P 500's loss of 0.51% [1] - The stock has increased by 6.91% over the past month, outperforming the Industrial Products sector's gain of 0.33% and the S&P 500's loss of 0.26% [1] Upcoming Earnings - The earnings report for Axon Enterprise is anticipated on August 6, 2024, with an expected EPS of $1.06, representing a 4.5% decline from the prior-year quarter [1] - Revenue is projected to be $476.92 million, indicating a 27.31% increase compared to the same quarter last year [1] Fiscal Year Estimates - For the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.64 per share and revenue of $1.98 billion, reflecting changes of +12.08% and +26.86% respectively from the previous year [2] Analyst Sentiment - Recent modifications to analyst estimates for Axon Enterprise indicate positive sentiment, as revisions often correlate with near-term business trends and stock price performance [2] - The Zacks Rank system currently rates Axon Enterprise at 3 (Hold), with a history of outperforming the market [3] Valuation Metrics - Axon Enterprise has a Forward P/E ratio of 67.5, which is significantly higher than the industry average Forward P/E of 24.54 [3] - The company also has a PEG ratio of 3.58, compared to the industry average PEG ratio of 2.18, indicating a premium valuation relative to expected earnings growth [3] Industry Context - The Security and Safety Services industry, part of the Industrial Products sector, holds a Zacks Industry Rank of 105, placing it in the top 42% of over 250 industries [4] - The top 50% rated industries tend to outperform the bottom half by a factor of 2 to 1, suggesting a favorable environment for Axon Enterprise within its industry [4]

SCOTTSDALE, Ariz., July 23, 2024 /PRNewswire/ -- Axon (Nasdaq: AXON), the global public safety technology leader, today announced that it will report second quarter 2024 financial results after the market closes on Tuesday, August 6, 2024. Axon will host a live Zoom video webinar to discuss the company's financial results at 5 p.m. ET that same day.The live webinar to discuss financial results, followed by Q&A, will be linked from Axon's investor relations website at https://investor.axon.com. An archived r ...

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The most recent trading session ended with Axon Enterprise (AXON) standing at $293.29, reflecting a -1.75% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.02%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.The maker of stun guns and body cameras's shares have seen an increase of 4.01% over the last month, surpassing the Industrial Products sector's loss of 2.29% and falling behind the S&P 500's gain of 4.44%.In ...

Axon Enterprise, Inc. (AXON) has been benefiting from strength in its TASER segment, driven by strong orders for devices and cartridge products. Stable demand for virtual reality training services also supports the segment’s growth. Solid momentum in Axon Evidence and cloud services, driven by growth in the number of users and average revenue per user, is driving the Software & Sensors segment’s growth. In the first quarter, revenues from TASER and Software & Sensors segments increased 33.1% and 34.9%, resp ...