Welcome to our dedicated page for Axon Enterprise news (Ticker: AXON), a resource for investors and traders seeking the latest updates and insights on Axon Enterprise stock.
Axon Enterprise, Inc. reports developments across connected public safety technology, combining TASER conducted energy devices, body-worn and in-car cameras, Axon Evidence cloud software, real-time operations tools, drones and counter-drone products, and training solutions. Company updates commonly cover Software & Services and Connected Devices performance, new AI capabilities such as Axon Assistant and Axon Vision, and product expansion across field devices, emergency response workflows and enterprise security use cases.
Axon news also includes quarterly and annual results, revenue outlooks, conference participation, completed technology acquisitions, and responsible-innovation governance around privacy, transparency, data management and product controls.
Jim Zito has been appointed as interim Chief Financial Officer of Axon, succeeding Jawad Ahsan, who resigned to pursue other opportunities. The company has raised its 2022 revenue guidance to between $1.05 billion and $1.1 billion, marking a projected annual growth of 25%. Additionally, Axon affirmed its long-term revenue growth target of over 20% CAGR and updated its Adjusted EBITDA guidance to a range of $190 million to $200 million. Zito aims to maintain the momentum in Axon's financial performance during this transition.
Axon (Nasdaq: AXON) announced a 5-year contract with the Columbus Division of Police to deploy 2,000 Axon Body 3 cameras, 75 Axon Flex 2 cameras, and 460 Axon Fleet 3 in-car camera systems, among other technologies. This partnership aims to enhance public safety by allowing faster response times and better data management. The order was received in Q1 2022 and will commence shipping in May 2022. Axon's technology is designed to improve officer safety and community protection while providing unlimited 3rd party storage through Axon Evidence.
Axon (Nasdaq: AXON) announced the addition of new members to its Community Advisory Coalition (CAC), emphasizing its commitment to diversity, equity, and inclusion in public safety technologies. The CAC, formed in 2021, aims to integrate community feedback into product development. Key members include community leaders and advocates like Dr. Desmond Patton and Bertha Purnell. Axon stresses that the coalition will enhance relationships between public safety and communities, ensuring a focus on justice and equity in technological advances.
On April 6, 2022, Axon (Nasdaq: AXON) announced its acquisition of Foundry 45, a virtual reality training studio aimed at enhancing public safety training. The acquisition closed on April 5, 2022, and will integrate Foundry 45 into Axon's VR division. Founded in 2015, Foundry 45 has partnered with Fortune 100 companies to develop innovative training modules. This acquisition is expected to enhance Axon's training capabilities, making them more accessible and effective for public safety professionals, while opening new growth markets globally.
São Paulo State Military Police (PMESP) is set to enhance its public safety measures by deploying an additional 7,000 Axon Body 3 cameras. This expansion follows a significant 85% drop in police intervention deaths, according to a recent study. PMESP will also utilize Axon Respond, improving real-time situational awareness for law enforcement. The agency initially equipped 2,500 officers with Axon technology in June 2021, demonstrating its commitment to leveraging advanced technology for community safety.
Axon (Nasdaq: AXON) announces that Fresno Police Department has implemented its Axon Dispatch, a cloud-based computer-aided dispatch (CAD) system. This innovative platform aims to enhance the efficiency of 9-1-1 call handling, managing nearly one million calls annually. Key features include real-time notifications, modern mapping, and a user-friendly interface. Officials emphasize the importance of advanced technology for effective police response. Axon aims to improve situational awareness and resource allocation in public safety through this partnership.
Axon has announced the deployment of 200 Axon Body 3 cameras by the Maldives Police Service (MPS) to enhance public safety and accountability. This initiative incorporates Axon's real-time situational awareness software, Axon Respond, enabling supervisors to access live streaming and location mapping. MPS Commissioner Mohamed Hameed emphasized the importance of this technology in policing, which aims to improve evidence collection and officer safety. Axon's partnership with MPS represents a critical step in advancing public safety technology in the region.
Axon reported a 27% revenue increase to $863 million in 2021, with a net loss of $60 million impacted by stock-based compensation. Adjusted EBITDA reached $178 million, showcasing a 20.6% margin. The company tripled its annual recurring revenue to $327 million, supported by record bookings of $1.7 billion, up 54% year-over-year. Notable product launches include Attorney Premier and TASER Bolt 2. Despite a 4% revenue decline in Q4 due to supply chain issues, Axon remains optimistic with a target of 20% CAGR. The firm also expanded globally and made strategic acquisitions in the forensic video and drone detection markets.
STORE Capital Corporation (NYSE: STOR) announced the addition of David Edwards, Ph.D., and Jawad Ahsan as new members of its Board of Directors, effective February 17, 2022. This expands the board to nine directors, with eight being independent. David brings expertise in data-driven optimization and risk management, while Jawad's strong finance background enhances the board's capabilities. The company also noted the retirement of board member Einar Seadler, who has served for six years. The addition of these members aims to bolster STORE's governance and strategic direction.
Axon, a leader in connected public safety technologies, announced it will release its fourth quarter 2021 financial results after market close on February 24, 2022. A live webinar will occur at 5 p.m. ET the same day, featuring CEO Rick Smith and other executives, to discuss financial performance. Axon also plans to participate in the Morgan Stanley Technology, Media and Telecom Conference on March 9, 2022. More than 262,000 lives have been positively impacted by Axon's technologies. Archived recordings of the events will be available on their investor relations website.