Axon 2022 Financials And 2025 $2 Billion Revenue Goal Examined
Axon revealed a plan to reach $2 billion in annual revenue by 2025, nearly double its current revenue, after surprising Wall Street with the strength of its fourth quarter 2022 results.
In this note, IPVM examines the body camera and stun gun maker's latest projections, executives’ statements from a recent fourth-quarter earnings call, earnings announcements and a letter to shareholders, and underlying financials as they relate to the following areas:
- $2 Billion Forecast
- Core Markets
- SaaS Growth
- Consumer Pullback
- TASER Segment
- Body Cams/Sensors
- Strategic Investment
- Drone Controversy
$2 ******* ********
** ****. **, **** ******** *******, **** **** **** ** ** “positioned ** ***** ***** *** *** bottom-line ******” ***** *** “****** ********** of *********** ********** ** ****, “********* regarding *** ******* ****** ** *** business *** *** ********* **** ******* to *** ****** ** ***** ** us.” ***** ** ***** ***********, ** anticipates ******** $* ******* ******* ** 2025.
*** *** ****** ******* ** ****, Axon ******** ******* ** $***.* *******, up ****** **% ***. *** ******* for *** **** **** **** ****** 37.8% ** $*.** ******* ** **** compared **** $*** ******* ** ****, according ** *****-* ***** **** *** ***.
**** *****, *** *******’* ******* ****-**** year **** ***** ****, ******** ****** top-line ****** ** **%-**% **** ******* *** **** * *****. ********* ******* ** “** ***** $2 *******” ** **** ******* * continued ****** ****** **** ** ** least **%,*** ******* ****. ***********, **** ***** **** **** to **** **.**% *** **** ** go **** $*.** ******* ** **** to $* ******* ** ****.
***** **** *** ****** ******** ** annual ******* ** *** **** ***** years *** **%, **% ****** **** year ******* **** ** *** ************. However, ** *** ***** ****, *********, growth *********** *** **** ********* ** obtain *** ****** *** ******* **.
*** ****** **** **** ************* ** 2022, ******** ** $***.* ******* ** 2022 ******** **** * $** ******* loss ** ****. ************* ******** ** large **** ******* *****-***** ************ *** $187.5 ******* ***** ** **** **** in ****. ** ****,*** **** ************* * $***.* ******* *********** *****.
***** ****** **** ******* ****** ** 61.2% ** **** ******** **** **.*% in ****.
Core *******
****** **********’* ******** ******** ********* ** ***. **, ****, Chief ********* *********** ********* *** *******'* **** ** $* billion ** ******* "*** ******":
**** ** ****** ** * *********** of ******* *** ******** **** *** existing ******* *** ** ******* ******** products **** *** *******. ** ******** to ********* *** ******** **** ******* value ** *** ******** ******** **** of *.*. ***** *** ***** *** enforcement, *** ** ******* ** **** continue ** **** *** ***** ** wallet ** **** ******.
********* ** *** **** ****** **-*, Axon's ******* ******** ******* ********* ** be *.*. ***** *** ***** *** enforcement, *** ** *** ******** ************* with **** **% ** ***** ********. Additional ******* ******** ***** ******* *********, fire *** *** *********, *********** *********, and *** *.*. ********. *** ******* has **** ********* ** ***** *********, "and ** ****, ** **** ***** on ********* ********* ********* ** ******* key *** ******* *** ***** ********," it ****.
SaaS ******
* *********** ********* ** *** *******'* overall ******* ****** **** *** **** year *** **** *** ** *** SaaS *****. *** *******'***** ***** ********, ***** ****** *** *** ****** management ** **** **** **** ******* such ** **** *******, ********* **** that *** ** **** ** ******** in ***** *****, "********* ** ** our *** ******-******," ********** ****.
"********" *******, ***** ****** ******** ** Axon ***** *******, **** ** **** than **% ** $***.* ******* ** 2022 **** ***.* ******* ** ****. "Services," ** ******** **** "********" **** as ******, **** *******, *** *******, has **** **** ******** ********** ** a ********** ** ******* **** *** past **** *****.
******** ******* *********** **.*% ** ***** revenue ** ****. *** ***** *** 29.5% ** ****, **.*% ** ****, and **.*% ** ****, ********* ** the*******'* **-**.
** *** ******** ****,***** ********* ******* ******** ******, **** **** "**** ******** *** hardware *** ******* ****** ***********" *** the ******* ********** ** "********** ***** of *** ********* *** **** *** done ******* ******** *** ************ *******."
***** ******* ** *** $*** *******, with * ***** ****** ** **%, and ***** ****** ********* ******* ** $473 *******, *** ****. *** ***** that **** ******** * ***** ********* market ** $** ******* ******* ****** public ******, *.*. *******, *************, *** commercial ***********. ** *** ********* ********* of **** ***** *** ***********, ****** even ** *** *** ** *** lower **** **** **** *****, ** is ***** ***** ****** ** ** feasible *** **** ** ******** ******** billions ** *******.
Consumer ********
***** **** ******** ****** ****** ****** for *** ******** *** ******** **** law ***********, ********** *** ****** ******-******* entities, ** *** *********** *** ********* for ******* ********, **** ** ******, to ********** *********. *** ******* *** anticipates * ***** ********* ******** ****** of $* *******, **** ************* **** $18 *******. ****** *** ******** ****, Bagley ****:
*** ******** ******** ********** ****** ******* an ***********, *** *'* ********* ********** for * ********* ** ** **** the ********. *******, ** ** ***** in *** *********** ******, ** *** refarming *** ******** ** **** ****** from $** ******* ** $* ******* in ***** ** ***** ***.
****** $* ******* ** ***** ***** opportunity **** **'** ********** ** ********, but ** *** *********** *** ***** to ****** ******* *** ****** *********** we *** ** *** **** ********
TASER *******
*** ***** ******* ** ****, ***** includes *******, **********, ******** **********, *** related ********, ******* ******** ******* ** a ******* ** *** *******'* ***** revenue ** ****. *** ***** ******* represented **.*% ** ***** ** **** compared **** **.*% ** ***** ** 2021.
*** *******'* ****** ***** *******, ******** **, ***** *** ******** ** ******* 2023, *** ********* ********** ************ **** its ******** ***** ********. **** ***** products **** *** ********** "********" ** the *.*. ****** ** *******, *******, Firearms *** **********.
**** ******* ******* *** *** ***** 10, ***** *** ****** ** ** ****, ****** ****** *** ******** ***** of ** **** *** **** ****** than ******** ******. **** **** *** maintain * ******* ******** ******* ** manufacture *** **** *** ***** ** and **** ****** **** ******** *** inspections, *** ******* ****. ***** *** newest ***** ***** *** **** ******* sales, ********** ************ *** ******** ***** for *** ***** ******* ***** *******.
Body *******/*******
*** ******** *** ******* ******* ******** devices, *********, *** ****** ******** **** as **** ******* ** **** ** related ************, ***** ********, *** ********. Overall, *** ***** ** ******* **** the ******* **** ** **.*% ** 2022 **** **.*% ** ****.
*** ** *** ******* ***** ** growth *** ** "**** ****" ********, which *** ****** ******* ************* ***** and ***** ********* *******, **** ********* by *** ***********, ** ***********, *** in *** ******** *** ** ********-******* contexts. **** **** ***** ****** **.*% to $***.* ******* ** **** **** $75.5 ******* ** ****.
"**** *****,"*** *******'* **-*** ***** *******, **** saw ******** ****** **** ****, ****** from * *** ****. ******* **** the ******* **** ***% ** $** million ** **** **** $**.* ******* in ****.
Strategic **********
******* ** ******** ****** ******, *** company *** ******** ****** **** **** strategic ***********. ****** *** ******** ****, Isner ****:
*'* **** ******* ** *** ** deliver ** *** ******* ** ******** strong **** ****. *** *** **** year, ** ********* $*** ******* ** adjusted **** **** ****. **** *** an **% ********** ** ******** ****** of $*** *******. **** ******* ** to ******** * *** **** ******** roughly **** ** **** ****, ***** investing ***** ** ***** ****** ***** in ********* $** ******* ** ********* ecosystem *********** ** ****** ** **** at *** ********* ** ******** **********.
******** ** * ******** **** ** analyst, ****** ********* **** *** ******* is *********** ***********, ********* ************ *** M&A *************.
*** **, ** ****** ** ***** either ******* ********** ** ***** **** fit ** **** **** *** ******* and/or *** ******** *****. *** ** there *** ******** ********** **** ** are ******* ** ******** ********* **. And ** **'* ****** **** ** a ************ ******** *** ** ** we ***** ******* ****. ****'* *** to *** **** ** ****'* ******* at ******* ** *** ********* ** financially ********** ** **. *** ** could ** ****** ********* *******. ** could ************* ******** *** ***.
** ***** **** ** *** ********** on ********** **** **% ****** ****, long, **** ****? ** ** ***** be ********* ** *** ***** ******* or ****** *******. ** ***** ***'* sort ** *** *** ** ****** we're ******* **, *** **'** ****** looking ** **** **** ** *** find ********* **** **** **** *** ecosystem. **'** ******* ** ****** ********* the ********** *** ******* * ******** Axon ******** ** ** **** *******.
****** *********** **** **** ************** ******* $** ******* **** ************** ****** $**+ ******* *** ** Axon.
Drone ***********
*** **** *** ********* ** *** earnings ****, ******** *******, **-*, ** letter ** ************ *** ******** ******** ** ****** *** ******* ** ******* * "remotely-operated ***** ***** ******," ************ ** response ** **** *********. ******* ** 2021, ***** **** ** * ************:
* ******* **** [******] ** *** we *** *** ****** *********, ****** lives *** ******* **** *** ** the ***** ******** ******* **** *****.
*** ******** ***** ********* ********, *******, from **** *** ****** *** *** company's*** ****** *****. **** ** *** ** ******* resigned **** ******** ***** ********** *** drones ** *******,********* ** **********. ********** *** ****** ******** ** *** ***********.
****** *** ****, ***** *** ******* on ****** *** ******** ** ***** an **** ** *********** *** ****. The ******* *** **** **** ***** * "********" ****** ******** ********* ******* *** ****** and ****** ** **% ** ** years, *** **** ****** *** ******** as ******* **** **** *********.
** **** ***** *** ******** **********, first *** ********, ** * *** to ****** ********** *** ************** *** first **********. ******* ******** ** ******* playing ** ************ ********* **** ** search *** ******* ******* ******** ********, crime *** ******** ***** ************** *** a *** ******** ** *** ** drone ** * ***** *********.
** *** ********* *** ******* ******** to **** * ******* **** ** de-escalation. ******** ****-******* *****. **'** *** seen ***** ********* ** *** **** have ******** ****** *********** ** ** everything ******** ** ****** *** ********* of *** ** ***** *********.
*********** ** ***, **** ********* *** unbothered. ***** *** ******* ******** *** Q4 **** ******** *** ***** ** $0.70 *** *****, ******* * **** Street********* ******** ** $*.**, *** *******'* ***** ***** **** to ** ***-**** ****, **** ** 68% **** *** **** ** ******, in ***** ******** ** *** ******** market: