Axon(US:AXON)2024-08-06 20:54Financial 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]