Axon Revenue Growth Continues, Profit Drops
Axon's revenue beat expectations with 33% YoY growth in Q1 2021, but earnings fell due to the CEO's lucrative compensation plan.
In this report, IPVM examines:
- Company Background
- Q1 2021 revenue shows strong growth
- Axon's Transition to SaaS
- Impact of Police Reform in US
- US Market Consistently 80% of Revenue
- Taser Segment >50% of Revenue
- Motorola Bodycams Growing Faster, Still Selling Half as Many Units
- CEO's Billion Dollar Compensation Plan
**********:****'* ** **** ***************** ****-**** **********.
Executive *******
****'* ******* **** **% *** ** Q1 **** ** $*** ******* ********** strong ****** ***** * ***** ** 28% ****. *******, ******* **** $** million *** ** ** *** ** the ***'* ***** (***** ****) ************ plan, ****** *** **** ** ********** on ********** ****** *** *** ******* or *******, ********* ******.
****'* ***** *** ******** ***** ********, saying ****** ****** ** *** ****** States ***** ******* *** ******* *** pledging ** ****** ** ******.
Company **********
****, ******** *****, ***** ******, ********, ********* ****, and ******* ******** ********* ** ***-*********** customers. **** ** ****** ** $*.* billion, ** ***** *******, *** ******* for * ****-******* **** *******.
1st ******* *** **** ******* **
**** ************ ** ******* **** **% **** over **** ** $**** ***** **** exceeded ****'* ************ ** **% **** their**** ****** *********** ******. **** ******* *** $****, ** 28% **** **** ******* * ******** years ** **+% ****** **** * 28% ******** ****** ****** **** (****) since ****. **** ** **** ********** *** **** ** **% ****.
***** ******* ****** ******* **%. ***** profit ********* ** **** ** ** 2021 ** * **** ** $** million, **** *** ****** ** *** expected ***** ** ******* ******* ** Axon ******* *****.
*** **** ***** **** *-****** ***-******** video ***** *** ** ******** **** Axon:
CEO ******* ****** ************ ****
****'* *** ****** ** **** $*** million ** ****** *** *** ******* targets *** *** **** ** *** company's ******* ** *** **** ** even ****. (*** *** *********** ***** *****.)
****’* *** ** ******* ******* ********** to ~*% ** *** *******'* ******** share ***** **** **** *** * Market *** *** * ******* ** EBITDA ****** ** **** ** *** salary. *** ******* **** * ****** price ** $**.**, **** **** **** was ***** $*.* ******* ** **** (today's ***** ***** ** * ***** the ****** ***** ** ~$***). ** all *** ******* *** *** ** 2028, ********* * ****** *** ** $13.5b, *** ******* **** ** ***** $1b. *********, **** *** ******* ** options *** **** ******* ** ****’* CEO*** ******* * $*.** ****** *** and $**** ******** ****** (**** *** take **** ******* *** ***** ** these ***** ******* ** ******** ***** based-compensation). *********, */** ****** *** ***** are *** *** ******* *** ******** EBITDA ******* *** ******.
$9.5 ******* *******, ** **% ***
****'* ************** **** *% ** *** ***, the ***** **** *** ***** *******, from $*** * ***** ** $*** when ******** **** *********. ** ** June ***, ****, *** ***** *** risen **% **** ** $****** ** ***** *** ***-**** **** of $*** ** ******** ****.
Impact ** ****** ****** ** *** ****** ******
** ************ ******** ****, ****’* ***** **** **** ****** reform ****** ** ****** *****’* ****** and ********** ******** **** ******* ***** of *** *******'* **** ******* *** Tasers:
*********, *** ************ **** ***********, *** us ** * *** ******* ****** and *** ******* ** *** ****** drive ** ********* ****** ******. ** hear ******* ***** ***** ********* ***** our ******** ** **** ***** *** protect ***** ***********. *** ** ******* our *******-******* ******** ** ***** ***** challenges **** ******** ** ***** *** growth.
Transition ******* ****
**** *** **** ************* *** **** *************** $**** ** ****** ********* ******* for **** ** **% **** $**** in ****.**** ******* ******* ** ******** ********* by $** ******* * *******.**** *** *** ******* ***** ** their ********* ******** **** *** ******** net ******* ********* ** ***%, ******** that *** ******* ******** ********* ** expand *** *** ** **** ********.
**** ********** ******* **** ***** *** company **** ********** ** ************ ******* of *** ******** ****-**** ******* ** recurring *******.
Axon ******* ************ **% ********/** **% **** ** *****
**** ** ******* * ***** ** large ** *** ** ** **** are ** *** **** ** *** world. **** ******** ** **** ******* equally ** *** *** ** *** US:
Revenue ********* ** *******
*** *******'* ******* ** ******* ** / ** ***** ******* ***** ******* and ***** *********:
Tasers **** ******* ****** **** **** *******
***** **** ***** ****** *** ******* higher **** **** ** **** *******, despite **** ******* ****** ***** *********** and *** ******* ******** *** ******* to *** **** ****** ********.***** ***** **** **** **% *** in ** **** *** **% ** FY **** ***** **** ****** ***** sold **** **% *** ** ** 2021 *** **% ** ** ****.
Competitor ******** ******** ******* ******, ***** ******* **** ** **** *****
******** *** ******* ******** ** *** body ****** *************** ** **** ********* ***%(+**,***) ** ** **** *** ** 16% (+*,***) *** ****. *** **** still **** ***** ** **** ***** as ******** ** ** ****, *** vs ***.
******* *** *** **** ******** *** close *** *** **** **** ******* to ** ****.
Investing ** ****** *** *** ********
**** *** ******** ********* ******* ****** * ********* **** ** invest ** ******:
** *** *** *** **** *** shareholder ******, **'** *** ** *********** start ** *** ****. *** ***** have ******** ***** ****, ********* ** our ******* *** ******* ****** ****** all ** *** ******** *** *******. I ******'* ** **** ***** ** what **'** *****, ** ****'* ******** as * **** ****** *****, *** ultimately, *** **** ********, ***** **'** heading. **'** ****** **** ********** ***** innovation, *** *** ******** ***** ********* to ****** *** ******** *******. - Co-Founder, *** & ******** ******* *****
*** ***** ** * ********** **** is ** ****** ** ******, ** that ** *** ******** ********** ************ to ******* **** *** ***** - Axon ********* **** *. ******