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   Technology StocksAxon Enterprise, Inc. (AXON), formerly Taser Intl.


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From: J.F. Sebastian5/17/2019 8:59:34 AM
   of 972
 
AAXN has held up very well in the latest market turmoil. Unlike most of the rest of the market recently, the stock recovered quickly from the hit it took after earnings last week and was up another $2.77 yesterday to $68.18 yesterday, now trading higher than it was before earnings.

I think both things are a very good sign about the prospects for this company.

It's up over 50% YTD, I believe investors are getting the message about the value this company has, from TASER sales to their body and in-car cameras and cloud-based software subscriptions.

Nothing like having recurring revenue from subscriptions to drive profits

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From: J.F. Sebastian5/17/2019 11:05:20 AM
   of 972
 
Axon Enterprise's Growth Continues Ahead of New Product Launches

Axon Enterprise (NASDAQ: AAXN) has been working on new products like Taser 7, Body 3, and Axon Records for a few years now, and 2019 is when we'll see fruit from that labor. In the first quarter of 2019, the company set up product launches and began rolling out its newest stun gun, but it was largely anticipation about upcoming launches that management was focused on.

Axon reported its first-quarter results on May 9. Here's an overview of the numbers and what we can expect as new products hit the market.

Metric Q1 2019
Q1 2018
Year-Over-Year Change
Sales $115.8 M
$101.2 M
14.4%
Net Income
$6.4 M
$12.9 M
(50.3%)
Diluted EPS
$0.11 $0.24 (54.2%)
Data source: Axon Enterprise Q1 2019 earnings release.

What happened with Axon Enterprise this quarter?

The drop in net income may seem alarming, but when you look at segment results, it isn't surprising at all. And it shows how much management is investing in growing the business. Here are segment highlights and when we can expect new products:

  • Axon 3, which is an LTE cellular connected device, is set to ship in the third quarter of 2019. Management said it has demonstrated live streaming with carriers and begun the certification process.
  • Axon Records continues to take longer than hoped but should go live with a customer later this year. Investors will have to wait until 2020 for significant traction on this product, but if it works well it could be a game changer for Axon and law enforcement.
  • The drop in earnings that you see above was due in large part to the launch of Taser 7, which had low yields in early production runs. Management said margins should improve in coming quarters and expects gross margins of more than 70% long term.
  • Taser sales were up just 2.9% versus a year ago to $65.4 million, and gross margins fell 330 basis points to 64.4%. The changes were due largely to more subscription-based sales and lower yields, as noted above.
  • Axon Cloud sales rose 36.5% year over year to $27.6 million and generated a 73.6% gross margin.
  • Sensor sales, which include body cameras, were up 30.6% versus a year ago to $22.8 million and gross margin was 28.4%, lower than other segments because body cameras enabled the high-margin cloud sales.
  • As Axon builds its customer base, seats booked and recurring revenue are key operating metrics to watch. In the first quarter, seats booked increased to 371,100 from 226,900 a year ago, and annual recurring revenue rose from $83.3 million to $122.3 million with $930 million of total contracted revenue.

  • What management had to say

    The first quarter is like a setup for the new products coming later this year, and President Luke Larson summed up the quarter well, saying, "We feel confident that Taser 7 will be a major revenue and gross profit driver for our business over the next several years. In Q1, Taser segment gross margins were pressured by two main factors -- ASP, the average selling price, and scrap rates both will improve over time, and we are improving, even as we speak."

    The fact that Axon is growing double digits without the help of these new products is extremely impressive. Investors should be excited about what's to come later in 2019.

    Looking forward

    Management increased its 2019 revenue expectations by $5 million to between $485 million and $495 million. Second-quarter revenue is expected to be up 16% to 17% year over year, and growth should pick up in the second half of the year. With Taser 7 and Axon Records due out later this year, Axon could keep its double-digit growth streak growing for years to come.

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    From: Daniel Schumacher6/4/2019 3:29:29 PM
       of 972
     
    I think their Patent infringement case from Digital Ally could create a major headwind for them and a windfall for DGLY. Resolution by August.

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    From: J.F. Sebastian8/8/2019 9:04:18 PM
       of 972
     
    Axon Q2 2019: Record bookings of $142 million, up 60% on new product strength, adoption of Officer Safety Plan 7

    SCOTTSDALE, Ariz., Aug. 8, 2019 /PRNewswire/ -- Axon ( AAXN), the global leader in connected public safety technologies, today released the following quarterly update letter to shareholders.

    Dear Shareholders,

    In Q2, we delivered excellent progress on our long-term strategic goals while also working through some operational challenges in our TASER segment that resulted in revenue and EBITDA below our expectations.

    Unexpected short-term pressure on the TASER segment at quarter-end was tied to an inventory shortfall relating to a battery component supplier issue, as well as engineering actions we took to improve the long-term cost structure of our TASER 7 cartridges. We discuss these below in more detail.

    Key highlights since our last update include:
    • Our three largest deals feature monthly software ARPUs at more than double historic levels on our new Officer Safety Plan 7+ (OSP 7+), which is clearly resonating with customers.
    • Axon Records passed acceptance testing with two major city law enforcement agencies, which is a critical milestone where the agency verifies that Axon Records is functional and meets the agency's needs.
    • Future contracted revenue surpassed $1 billion for the first time.
    • Axon Cloud revenue grew 41% annually and 15% sequentially; and annual recurring revenue grew 40% annually to $129 million.
    • Bookings in our Software & Sensors segment set a new record at $142 million, up 60% over last year and 86% sequentially. Bookings were driven by strong customer reception for the Officer Safety Plan (both OSP 7 and OSP 7+), our new bundle composed of the TASER 7 platform, Axon Body 3, and several software features including digital evidence management and Axon Records, at a price of $149 to $199 per officer per month over 60 months. We are thrilled to welcome Atlanta, Minneapolis and Baltimore City police departments onto OSP 7+, and are in the process of signing several more major agencies.
    • Software and Sensors segment gross profit grew 45% year over year, aided by steady user additions and sound execution, allowing our body-worn camera and digital evidence management business to become self-supporting.

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    To: J.F. Sebastian who wrote (965)8/8/2019 9:14:48 PM
    From: J.F. Sebastian
       of 972
     
    AAXN down 5.90 (-8.62%) to 62.51 after hours, post Q2 earnings results.

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    From: J.F. Sebastian11/8/2019 1:25:11 PM
       of 972
     
    Axon Reports Record Revenue of $131 million; Axon Cloud Grows 42%; Raising Full-Year Revenue Outlook to $500-$510 million

    SCOTTSDALE, Ariz., Nov. 7, 2019 /PRNewswire/ -- Axon ( AAXN), the global leader in connected public safety technologies, today released the following quarterly update letter to shareholders.

    Dear Shareholders,

    Since our August update, we executed on a series of objectives across our product, people, and adjacent markets, and we feel as confident as ever in our strategy and trajectory. We set and delivered on several large goals thus far in 2019 — all with the purpose of driving adoption of our growing software platform, transforming Axon into the leading technology provider for public safety, and serving our ultimate goal of creating safer communities and protecting life.

    Importantly, we continue to make substantial progress driving long-term subscriptions. Customers have been rapidly adopting our best-value plans to gain access to more of the Axon network, building upon our historical strength with TASER device and body camera solution subscriptions. Our highest value tiered integrated bundle, for example, of $199 per officer per month over five years, known as the Officer Safety Plan, includes access to a wide range of benefits including TASER 7, Axon Body 3, and a host of cloud services including Axon Records. In Q3 2019, about a third of our total quarterly bookings, which average about five years per contract, were tied to some version of the Officer Safety Plan.

    We are thrilled to be approaching year end with a strong market position and powerful operating platform that will support the next several years of revenue and profit growth.

    Product

    We have a number of positive updates across our product portfolio.

    After completing carrier certification with AT&T FirstNet Ready™ and Verizon Responder Private Core, we began shipping Axon Body 3, our latest generation camera, in September, as planned. Axon Body 3's cellular communication, wireless data, and geolocation capabilities are poised to revolutionize public safety workflows. And because the majority of our body camera customers are on a multi-year subscription, we expect the majority of our customer base to automatically upgrade to Axon Body 3 over the next three years as we build upon our unmatched, rapidly growing network of cloud-connected cameras and other devices. The portion of agencies choosing to activate the LTE connectivity built into every Axon Body 3 camera is exceeding our expectations and we continue to drive that forward in support of our future vision, where cameras use real-time signals and AI to automate transcription and automatically feed information into Axon Records.

    Axon Records also achieved a critical milestone in September when the Fresno Police Department went live with a full agency-wide Records Management System (RMS) deployment using our cloud subscription service. Cincinnati Police Department has also started using Axon Records for several critical workloads, including use-of-force reporting, and will continue to deploy additional modules throughout 2020 and beyond as part of an agency-wide RMS upgrade to our service. Fresno and Cincinnati PDs are positive reference customers for Axon as we sign new customers and enhance Axon Records' capabilities over time. As a reminder, Axon Records intends to disrupt the law enforcement software category known as Records Management Systems, or RMS, which powers the workloads for writing, storing, managing and sharing official police incident reports. Axon's strategic advantages in this category include our growing network of cloud-connected sensors and our industry-leading cloud SaaS platform, Axon Evidence (Evidence.com), which today is one of the world's largest repositories of data of any type. Cincinnati PD Police Chief Eliot Isaac said, "We are seeing exceptional benefits with how body camera footage can be directly embedded in our use-of-force, officer accident, citizen complaint and other internal reports."

    Link: finance.yahoo.com

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    From: J.F. Sebastian11/26/2019 10:18:46 AM
       of 972
     
    AAXN hitting a new ATH today at 77.29.

    Anyone out there still in this stock? It's had quite a nice run since Q3 earnings and their latest announcements after raising full year guidance.

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    From: J.F. Sebastian6/1/2020 7:56:32 PM
       of 972
     
    Shares of Axon, a maker of non lethal weapons and cameras for police, jump amid nationwide protests

    Shares of law enforcement supplier Axon Enterprise spiked more than 18% on Monday after protests against police brutality turned violent in many cities across the country.

    Axon, formerly known as Taser International, sells electrical weapons and body cameras for law enforcement officers. The stock’s jump on Monday followed a gain of 3.8% during Friday’s session.

    The company was one of several that Oppenheimer identified in a note as providing technology that could be beneficial in reforming government agencies, such as police departments. The firm’s analysts praised Axon’s CEO, writing, “CEO Rick Smith has a company vision and personal passion to arm police agencies with technology and disarm them of lethal weapons.”

    Over the weekend, Smith said released a statement on the company’s website in which he included quotes from police chiefs from Arizona and Washington and said “everyone deserves to get home safe.”

    “We offer our sincere condolences to all those who loved George Floyd and we empathize with the citizens and communities who are angry and acknowledge the pain and suffering they are experiencing in the wake of this event,” Smith said in the statement.

    The company, which has a market cap of roughly $4.5 billion, changed its name to Axon from Taser in 2017.

    The stock has gained more than 22% year-to-date.

    Link: cnbc.com

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    From: J.F. Sebastian6/16/2020 9:51:53 AM
       of 972
     
    Shares of AAXN down so far today on news of secondary offering:

    Axon Announces Proposed Public Offering of Common Stock

    SCOTTSDALE, Ariz., June 15, 2020 /PRNewswire/ -- Axon Enterprise, Inc. (NASDAQ: AAXN), the global leader in connected law enforcement technologies, today announced that it has commenced a proposed public offering of 3,000,000 of shares of its common stock. The underwriters have a 30-day option to purchase up to 450,000 additional shares of common stock in the public offering. Axon intends to use the net proceeds from this offering for working capital and other general corporate purposes.

    J.P. Morgan Securities LLC is acting as book-running manager for the proposed offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the final size or terms of the offering.

    More at: finance.yahoo.com

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    From: J.F. Sebastian1/15/2021 10:56:58 AM
       of 972
     
    Axon Enterprise, Inc. Expected to Post Earnings of $0.35 Per Share

    Brokerages forecast that Axon Enterprise, Inc. (NASDAQ:AAXN) will post $0.35 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Axon Enterprise’s earnings, with estimates ranging from $0.31 to $0.43. Axon Enterprise reported earnings of $0.41 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 14.6%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 25th.

    On average, analysts expect that Axon Enterprise will report full year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.23. For the next year, analysts expect that the company will report earnings of $1.29 per share, with EPS estimates ranging from $1.12 to $1.46. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Axon Enterprise.

    More at: dailypolitical.com

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