Axon enables law enforcement to better protect people through electro-shock weapons and body cameras.
Axon EnterpriseJanuary 17, 2021
Thesis - Axon Enterprise might be better known by the name of its first product, Taser. Axon enables law enforcement to better protect people without the loss of life. As well as the Taser, an electroshock weapon, they also produce body cameras, vehicle cameras and a suite of cloud-based tools to enable tracking, monitoring, dispatching and communication between law enforcement teams. Axon management have successfully grown the company from being simply a producer of devices, to an integrated technology solution. Axon’s mission “protect life, capture truth, accelerate justice” embodies a future without the negative headlines around police enforcement.
Financials & Performance - Axon have increased revenue between 20-30% annually for the past 4 years. As software (Axon Cloud) becomes a greater part of their business, they are targeting an increase in gross margins, from 62% currently to 70% in the future. Impressively, management have shown an ability to grow the business in breadth and depth at each stage of its maturity. Whilst still not profitable, they are the leader in an important niche with specialised relationships.