Axon Enterprise Stock Price, News & Analysis

On December 5, 2022, Axon Enterprise, Inc. (NASDAQ: AXON) announced its intention to offer $500 million in Convertible Senior Notes due 2027. This offering, targeting qualified institutional buyers, includes an option for an additional $75 million. The Notes will be senior unsecured obligations, maturing on December 15, 2027. Proceeds will support convertible note hedge transactions and general corporate purposes, including potential growth investments. The company anticipates possible market price fluctuations due to derivative transactions related to the Notes.

Axon reported Q3 2022 revenue of $312 million, achieving a 34% year-over-year growth, driven by strong demand in its Software & Sensors business. Notably, Axon Cloud revenue surged by 51%, reaching $95.7 million, with an annual recurring revenue of $403 million—up 40% YOY. The company’s EPS was $0.17, with a non-GAAP EPS of $0.60. Adjusted EBITDA was $68 million at a 21.7% margin. The firm is confident in its growth prospects, citing a robust product pipeline and the adoption of premium bundles, which represent less than 15% of potential market penetration.

Axon (Nasdaq: AXON) is set to release its third quarter 2022 financial results after market close on November 8, 2022. A live Zoom webinar will follow at 5 p.m. ET for discussions and Q&A regarding the results, accessible via its investor relations website. Additionally, Axon management will participate in several upcoming conferences, including the Northcoast Research Fall Management Forum on November 15, 2022, and the Credit Suisse Technology Conference on November 30, 2022.

Axon, the public safety technology leader, announced a commitment to reduce gun-related deaths between police and the public by 50% by 2033, during the IACP conference in Dallas. The initiative involves collaboration with law enforcement and community leaders and funding third-party research by the Institute for Intergovernmental Research. In 2021, 1,118 individuals died in such incidents. The company aims to enhance technology and training for law enforcement, focusing on non-lethal tools and better data collection.

The U.S. Department of Veterans Affairs (VA) has signed a $60 million IDIQ contract to deploy Axon's digital evidence management and AI technologies across all Veterans Integrated Services Networks (VISNs). This includes Axon Fleet 3 in-car cameras, Axon Body 3 cameras, and Axon Respond software. The FedRAMP-authorized platform ensures secure storage of digital evidence. This partnership highlights VA's commitment to enhancing security for Veterans and efficiency for officers, while also reinforcing Axon's position in the federal market.

Axon has appointed Andrea James as the new Chief Communications Officer, responsible for corporate communications including investor and media relations. Andrea previously held the position of SVP Corporate Strategy and Investor Relations and has a strong background in business analysis and reporting. This leadership change follows the announcement of Brittany Bagley as Chief Financial Officer. With the goal to grow revenue beyond $1 billion, Andrea aims to enhance the company's narrative and global presence in public safety technologies.

Axon (Nasdaq: AXON) has announced that Wellstar Health, a significant health system in Georgia, will equip its hospital security officers with TASER 7 devices and provide de-escalation training. This initiative aims to enhance safety across Wellstar's network, which serves one out of six Georgians and employs over 24,000 staff members. The partnership signifies Wellstar's commitment to improving workplace safety and violence prevention in healthcare settings, promoting a safer environment for patients and staff alike.

Axon (Nasdaq: AXON) has established an independent Ethics & Equity Advisory Council (EEAC) to guide the ethical development of new technologies. This council, led by Regina Holloway, aims to integrate community feedback into product design, placing an emphasis on racial equity and ethics. The EEAC includes notable members from various fields, such as Dr. Desmond Patton and Bertha Purnell, and will convene monthly to address technology-related concerns. This initiative reaffirms Axon's commitment to ensuring that its products meet the needs of diverse communities, vital for the future of public safety.

Axon (NASDAQ: AXON) announces that the Fairfax County Police Department (FCPD) is the first member of the Major City Chief's Association to implement Axon's My90 platform. This new community engagement tool allows the FCPD to collect confidential feedback from residents following service calls. In two months, over 3,000 responses have been gathered, helping the agency to understand public perceptions and improve services. The collaboration aims to foster trust and enhance public safety by encouraging genuine community engagement.