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    Axon Enterprise Inc (AXON)

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    Axon Enterprise, Inc. is a leading provider of law enforcement technology solutions, focusing on enhancing public safety through integrated hardware and cloud-based software solutions. The company operates primarily in two segments: TASER and Software and Sensors, offering products such as conducted energy devices and digital evidence management solutions . Axon's revenue is derived from both product sales and services, with a significant portion coming from recurring revenue streams like subscriptions to their software . In 2023, the company reported strong growth across its segments, driven by increased demand for its cloud and services offerings .

    1. Software and Sensors - Encompasses body-worn cameras, in-car cameras, and cloud-hosted digital evidence management solutions like Axon Evidence. Includes productivity and real-time operations software designed to enhance law enforcement efficiency and transparency.
      • Axon Cloud and Services - Provides cloud-based solutions and services, contributing significantly to the company's growth.
    2. TASER - Develops, manufactures, and sells conducted energy devices (CEDs) such as TASER devices, used by law enforcement to de-escalate situations and minimize the use of force. Includes related accessories and extended warranties.
    NamePositionStart DateShort Bio
    Patrick W. SmithChief Executive Officer1993Patrick W. Smith is the Founder and Chief Executive Officer of Axon Enterprise, Inc. He co-founded the company in 1993 with his brother, Thomas P. Smith. He holds a bachelor's degree from Harvard University and an MBA from the University of Chicago. Mr. Smith is an inventor listed on 45 U.S. patents .
    Brittany BagleyChief Operating Officer and Chief Financial OfficerSeptember 2022Brittany Bagley joined Axon in September 2022. Prior to Axon, she was the Chief Financial Officer at Sonos, Inc. and served on its board of directors. She holds a B.A. in Economics from Brown University .
    Joshua M. IsnerPresident2009Joshua M. Isner joined Axon in 2009 and has held various roles, including Chief Revenue Officer and EVP of Global Sales. He holds a B.S. in Government & Political Science from Harvard University .
    Jeffrey C. KuninsChief Product Officer and Chief Technology OfficerSeptember 2019Jeffrey C. Kunins joined Axon in September 2019. He previously served as Vice President of Alexa Entertainment at Amazon and has held various positions at Microsoft and Tellme Networks, Inc. He holds a B.S. from Carnegie Mellon University .
    Cameron BrooksChief Revenue OfficerApril 1, 2024Cameron Brooks serves as the Chief Revenue Officer at Axon Enterprise, Inc. He was appointed to this position and began his role on April 1, 2024 .
    Isaiah FieldsChief Legal Officer and Corporate SecretaryN/AIsaiah Fields is responsible for overseeing legal matters and corporate governance at Axon. He is mentioned in various filings from 2023 and 2024, indicating his active involvement during this period .
    1. Q4 implies lower adjusted EBITDA margins than achieved in Q3 due to timing of expenses and Dedrone integration costs ; how confident are you in achieving your 25% margin target for 2025 , and what measures are you implementing to mitigate further integration costs or unexpected expenses?

    2. With TASER hitting revenue records for six consecutive quarters , but concerns about the sustainability of this growth emerging , what specific strategies do you have to ensure TASER remains a major growth driver, and how do you plan to address potential market saturation or increased competition?

    3. Regarding the Dedrone acquisition and its role in your Drone as a First Responder (DFR) program , how do you plan to expand this opportunity internationally, given the differing use cases and regulations, and what challenges do you anticipate in scaling this business outside the U.S.?

    4. Considering you're on track to deliver your initial $2 billion revenue target for 2025 a full year early , are there risks of overextending resources or facing capacity constraints, and how are you ensuring operational scalability to maintain service quality and customer satisfaction?

    5. With the importance of FedRAMP high status in winning U.S. federal contracts , how are you leveraging this advantage to significantly grow your federal business, and are there challenges or limitations in this sector compared to state and local markets that might impact your growth expectations?

    Program DetailsProgram 1
    Approval DateFebruary 2016
    End Date/DurationNo expiration date
    Total additional amount$50.0 million
    Remaining authorization$16.3 million
    DetailsSubject to stock market conditions and corporate considerations. Future purchases are discretionary.
    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2027690.0 Convertible Notes0.50 100.0% = (690.0 / 690.0) * 100

    Competitors mentioned in the company's latest 10K filing.

    • Axis Communications AB - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Digital Ally Inc. - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Getac Technology Corporation - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Halo Body Cameras - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • i-PRO - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • LensLock Inc. - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Motorola Solutions - Competitor in the body-worn camera and in-car video/automatic license plate readers industry and in software solutions for public safety agency workflows .
    • Reveal Media - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Safe Fleet - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Utility Associates - Competitor in the body-worn camera and in-car video/automatic license plate readers industry and in software solutions for public safety agency workflows .
    • Versaterm Inc. - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Wolfcom Enterprises - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Wrap Technologies Inc. - Competitor in the body-worn camera and in-car video/automatic license plate readers industry and in VR de-escalation training .
    • Zepcam B.V. - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Applied Concepts Inc. - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • Genetec Inc. - Competitor in the body-worn camera and in-car video/automatic license plate readers industry and in software solutions for public safety agency workflows .
    • Insight LPR - Competitor in the body-worn camera and in-car video/automatic license plate readers industry .
    • FileOnQ - Competitor in software solutions for public safety agency workflows .
    • FotoWare - Competitor in software solutions for public safety agency workflows .
    • IBM - Competitor in software solutions for public safety agency workflows .
    • NICE - Competitor in software solutions for public safety agency workflows .
    • OpenText Corporation - Competitor in software solutions for public safety agency workflows .
    • Oracle - Competitor in software solutions for public safety agency workflows .
    • QueTel Corporation - Competitor in software solutions for public safety agency workflows .
    • Revir Technologies - Competitor in software solutions for public safety agency workflows .
    • Vidizmo, LLC - Competitor in software solutions for public safety agency workflows .
    • 365Labs - Competitor in RMS and CAD software .
    • Beacon Software Solutions Inc. - Competitor in RMS and CAD software .
    • Caliber Public Safety - Competitor in RMS and CAD software .
    • Central Square Technologies - Competitor in RMS and CAD software .
    • CivicEye - Competitor in RMS and CAD software .
    • Core Technology Corporation - Competitor in RMS and CAD software .
    • CSI Technology Group - Competitor in RMS and CAD software .
    • EForce Software - Competitor in RMS and CAD software .
    • Executive Information Services Inc. - Competitor in RMS and CAD software .
    • Hexagon AB - Competitor in RMS and CAD software .
    • Kologik - Competitor in RMS and CAD software .
    • LawSoft Inc. - Competitor in RMS and CAD software .
    • Mark43 Inc - Competitor in RMS and CAD software .
    • Niche Technology Inc. - Competitor in RMS and CAD software .
    • Saab - Competitor in RMS and CAD software .
    • SmartCop - Competitor in RMS and CAD software .
    • SOMA Global - Competitor in RMS and CAD software .
    • Sopra Steria - Competitor in RMS and CAD software .
    • Southern Software - Competitor in RMS and CAD software .
    • Sun Ridge Systems Inc. - Competitor in RMS and CAD software .
    • Tyler Technologies - Competitor in RMS and CAD software .
    • Combined Systems, Inc. - Competitor in less-lethal alternatives to firearms .
    • Byrna Technologies Inc. - Competitor in less-lethal alternatives to firearms and personal safety .
    • SABRE Corporation - Competitor in less-lethal alternatives to firearms and personal safety .
    • Mace Security International, Inc. - Competitor in less-lethal alternatives to firearms and personal safety .
    • UZI - Competitor in less-lethal alternatives to firearms .
    • Jolt - Competitor in less-lethal alternatives to firearms .
    • B.E. Meyers & Co., Inc. - Competitor in less-lethal alternatives to firearms .
    • Genasys Inc. - Competitor in less-lethal alternatives to firearms .
    • Monadnock - Competitor in less-lethal alternatives to firearms .
    • Armament Systems and Procedures, Inc. - Competitor in less-lethal alternatives to firearms .
    • Adaptive VR Ltd. - Competitor in VR de-escalation training .
    • Apex Officer - Competitor in VR de-escalation training .
    • Hologate GmbH - Competitor in VR de-escalation training .
    • InVeris Training Solutions Inc. - Competitor in VR de-escalation training .
    • Laser Shot Inc. - Competitor in VR de-escalation training .
    • MILO - Competitor in VR de-escalation training .
    • Street Smarts VR - Competitor in VR de-escalation training .
    • Ti Training Corp - Competitor in VR de-escalation training .
    • V-Armed - Competitor in VR de-escalation training .
    • VirTra Inc. - Competitor in VR de-escalation training .
    • Salt Supply Co. - Competitor in personal safety .
    • Vipertek - Competitor in personal safety .
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLPFollowing the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2023 PresentCurrent auditor.
    Grant Thornton LLPN/AEffective immediately following the completion of their engagement for the year ended December 31, 2023 The Audit Committee approved the dismissal as part of a process to appoint a new independent registered public accounting firm. There were no disagreements or reportable events, except for a material weakness in internal controls related to revenue recognition.

    Recent developments and announcements about AXON.

    Financial Reporting

      Auditor Changes

      ·
      Feb 27, 2024, 12:00 AM

      Axon Changes Auditor

      On February 26, 2024, Axon Enterprise, Inc. announced a change in its certifying accountant. The Audit Committee of the Board of Directors approved the appointment of PricewaterhouseCoopers LLP as the new independent registered public accounting firm. This change will take effect after the filing of Axon's Annual Report for the year ended December 31, 2023. Concurrently, Grant Thornton LLP, which has served as Axon's auditor since 2005, was dismissed following the completion of their engagement for the 2023 fiscal year. There were no disagreements or reportable events with Grant Thornton during their tenure .