Axon Body 4 body-worn cameras will be deployed to more than 10,000 RCMP officers across Canada, along with digital evidence management system Axon EvidenceSCOTTSDALE, Ariz., Nov. 14, 2024 /PRNewswire/ -- Axon (Nasdaq: AXON), the global public safety technology leader, today announced that, following a competitive procurement process, it has been awarded a Public Services and Procurement Canada-led contract to supply the Royal Canadian Mounted Police (RCMP) with Axon Body 4 body-worn cameras and digital evid ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Axon Enterprise (AXON) .Axon currently has an average brokerage recommendation (ABR) of 1.27, o ...

LISBON, PORTUGAL - NOVEMBER 28: A Maritime Police Commando carries a Taser 7 gun during a ceremony ... [+] to deliver them attended by State Secretary for National Defense Carlos Lopes Pires, the Portuguese Chief of the Naval Staff Admiral Henrique Gouveia e Melo, and the Director General of the Maritime Authority and Commander General of the Maritime Police Vice Admiral João Dores Aresta at the House of Scales, Central Navy facilities, on November 28, 2023, in Lisbon, Portugal. (Photo by Horacio Villalobos ...

Key TakeawaysThe S&P 500 added 0.4% on Friday, Nov. 8, posting its highest-ever close to end a momentous week that included an election and a Fed rate cut.Axon Enterprise shares surged after the Taser maker beat quarterly estimates, boosted by sales growth for its cloud products, software, and services.Shares of Akamai Technologies dropped as the cloud services provider issued lower-than-expected guidance and announced plans to reduce its workforce. Major U.S. equities indexes ticked higher to wrap up an ev ...

For those looking to find strong Industrial Products stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Axon Enterprise (AXON) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.Axon Enterprise is one of 213 individual stocks in the Industrial Products sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks S ...

▲AXON INVESTOR PRESENTATION AXON ENTERPRISE | NOVEMBER 2024 Safe-harbor statement Forward-looking statements in this letter include, without limitation, statements regarding: proposed products and services and related development efforts and activities; expectations about the market for our current and future products and services, including statements related to our user base and customer profiles; the impact of pending litigation; strategies and trends relating to subscription plan programs and revenues; ...

Financial Data and Key Metrics Changes - Revenue grew by 32% year-over-year, with adjusted EBITDA margin at 26.7%, marking a three-year record [19][26] - Future contracted revenue reached approximately $7.7 billion, up 33% year-over-year [23] - Adjusted gross margin was stable at 63.2%, up approximately 50 basis points from last year [25] Business Line Data and Key Metrics Changes - TASER revenue grew 36% year-over-year, the strongest growth in over two years [21] - Cloud and services revenue increased by 36% year-over-year, driven primarily by software revenue [22] - Sensors and other revenue rose 18% year-over-year, with strong demand for Axon Body 4 [22] Market Data and Key Metrics Changes - U.S. Federal bookings exceeded previous full-year totals, with significant contributions from agencies like DHS and IRS [16] - International bookings matched near-record levels, up 40% sequentially from Q2 and 40% year-to-date from last year [17] - Corrections customers in the justice segment showed strong bookings, alongside Fortune 500 companies conducting retail security trials [18] Company Strategy and Development Direction - The company is focusing on artificial intelligence as a key area for future growth, with plans to launch many new AI products [6][8] - The acquisition of Dedrone is expected to enhance capabilities in drone operations and counter-drone technology [8][46] - The company aims to modernize public safety operations and improve outcomes for communities [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving record bookings in Q4, driven by strong execution across all business segments [58][60] - The company is optimistic about the growth potential in both domestic and international markets, particularly in the AI and TASER segments [51][52] - Management emphasized the importance of maintaining R&D investments while achieving strong financial results [74] Other Important Information - The company raised its Q4 revenue guidance to a range of $560 million to $570 million, implying over 30% growth at the midpoint [27] - Adjusted EBITDA guidance for Q4 is set at $130 million to $135 million, reflecting a lower margin due to integration costs from the Dedrone acquisition [28] - The company is on track to meet its three-year targets for 2025, with confidence in achieving $2 billion in revenue a year early [29] Q&A Session Summary Question: Update on Draft One progress and revenue recognition - Management confirmed some orders were received in Q3, but significant contributions are expected in the future as the product is still in early stages [30][31] Question: Pricing for Draft One and AI Era bundle - Draft One is priced at $65 per month, with the AI Era bundle expected to be priced around $199 [33][36] Question: Opportunities and risks with administration changes - Management emphasized a non-partisan approach and the potential for new opportunities in border security under the new administration [87] Question: FedRAMP status and federal growth - FedRAMP status is a differentiator, but the company is winning deals based on product quality and execution [90] Question: TASER growth sustainability - Management expressed confidence in TASER's growth, particularly in international markets, and highlighted the product's improved capabilities [50][52]

Financial Performance - Revenues for the three months ended September 30, 2024, were $544.3 million, an increase of $131.0 million, or 31.7%, from the same period in the prior year [167]. - For the nine months ended September 30, 2024, revenues reached $1.5 billion, an increase of $377.1 million, or 33.4%, compared to the prior year [168]. - Net income for the three months ended September 30, 2024, was $67.0 million, compared to $61.3 million for the same period in 2023, representing an increase of 9.2% [190]. - Net income for the nine months ended September 30, 2024, was $241.9 million, compared to $118.7 million for the same period in 2023, with diluted earnings per share increasing to $3.12 from $1.58 [211]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $379.8 million, up from $240.4 million in the prior year, reflecting an increase of 58.0% [217]. Revenue Segmentation - Net sales for the TASER segment increased 36.4% for the three months ended September 30, 2024, driven by a $43.8 million increase in TASER devices revenue [176]. - Net sales for the Software and Sensors segment increased 28.7% for the three months ended September 30, 2024, attributed to user growth and adoption of premium features [177]. - Net sales from products for the nine months ended September 30, 2024, were $891.1 million, a 25.8% increase from $707.6 million in the same period last year [193]. - TASER segment net sales increased by $145.3 million, or 32.1%, primarily due to a $94.7 million increase in TASER devices and a $32.3 million increase in cartridge revenue [196]. - Software and Sensors segment net sales rose by $231.8 million, or 34.2%, driven by an increase in users and adoption of premium features, with Axon Evidence revenue increasing by $168.9 million [196]. Expenses and Margins - Gross margin for the three months ended September 30, 2024, decreased to 60.8% from 62.1% in the prior year, primarily due to higher stock-based compensation expenses [167]. - Operating expenses increased by $107.4 million for the three months ended September 30, 2024, reflecting higher headcount and stock-based compensation [167]. - Research and development expenses for the three months ended September 30, 2024, were $114.5 million, up $37.6 million or 48.9% from $76.9 million in the same period last year [184]. - Total sales, general, and administrative expenses for the three months ended September 30, 2024, were $192.2 million, a 57.1% increase from $122.4 million in the prior year [181]. - Gross margin for the TASER segment decreased to 57.7% from 61.8% year-over-year, primarily due to increased stock-based compensation expenses [197]. Cash Flow and Liquidity - Cash and cash equivalents increased to $695.1 million as of September 30, 2024, from $598.5 million at the end of 2023, a change of $96.6 million [219]. - Net cash provided by operating activities for the nine months ended September 30, 2024, was $158.1 million, significantly higher than $49.2 million in the comparable period of 2023, an increase of $108.9 million [224]. - The company reported a total liquidity of $1.0 billion as of September 30, 2024, down from $1.2 billion at the end of 2023, a decrease of $235.9 million [219]. - Net cash used in investing activities was $48.8 million for the nine months ended September 30, 2024, compared to $40.7 million in the prior year, reflecting increased investment activity [225]. - The company has a $200.0 million revolving credit facility available for additional working capital needs or investment opportunities [219]. Tax and Other Income - Interest income, net, for the three months ended September 30, 2024, was $11.0 million, compared to $10.5 million in the same period last year [186]. - The effective tax rate for the three months ended September 30, 2024, was 15.8%, up from 14.5% in the prior year [189]. - The estimated annual effective income tax rate for 2024 is 23.3%, with a favorable impact from a discrete tax benefit of $13.0 million related to stock-based compensation [209]. - The company recorded other income, net, of $44.5 million for the three months ended September 30, 2024, compared to $3.9 million in the same period last year [187]. - Other income, net, was $191,510,000 for the nine months ended September 30, 2024, a significant increase from a loss of $42,569,000 in the same period of 2023 [208]. Stock-Based Compensation - Stock-based compensation expense increased by $42.4 million in the three months ended September 30, 2024, primarily due to the 2024 Employee XSP and increased headcount [181]. - Stock-based compensation expense for the nine months ended September 30, 2024, was $251.7 million, compared to $96.2 million in the same period of 2023, an increase of 161.0% [224]. International Revenue - International revenue decreased compared to the prior year due to a large hardware deal in the EMEA region during Q3 2023 [172]. - International revenue increased to $208.6 million for the nine months ended September 30, 2024, representing 14% of total revenue, up from 16% in the prior year [194]. Risk and Accounting - The company has not engaged in any currency hedging activities to date, which may expose it to foreign exchange rate risks [237]. - The majority of sales to international customers are transacted in foreign currencies, increasing exposure to exchange rate fluctuations [236]. - The company evaluates its accounting estimates and assumptions on an ongoing basis, although no significant changes have been noted for the nine months ended September 30, 2024 [229]. - The company may adjust provisional amounts recorded for assets acquired and liabilities assumed within one year from the acquisition date [231]. - The fair values of intangible assets are determined using reasonable expectations and assumptions, often with assistance from third-party valuation specialists [230].

For the quarter ended September 2024, Axon Enterprise (AXON) reported revenue of $544.27 million, up 31.6% over the same period last year. EPS came in at $1.45, compared to $1.02 in the year-ago quarter.The reported revenue represents a surprise of +3.25% over the Zacks Consensus Estimate of $527.12 million. With the consensus EPS estimate being $1.22, the EPS surprise was +18.85%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

Axon Enterprise (AXON) came out with quarterly earnings of $1.45 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $1.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.85%. A quarter ago, it was expected that this maker of stun guns and body cameras would post earnings of $1.06 per share when it actually produced earnings of $1.20, delivering a surprise of 13.21%.Over the last ...