Axon Revenue Growth Continues, Profit Drops

By Zach Segal, Published Jun 09, 2021, 10:44am EDT

Axon's revenue beat expectations with 33% YoY growth in Q1 2021, but earnings fell due to the CEO's lucrative compensation plan.

IPVM Image

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 *******

****'* ******* **** **% YoY ** ** **** to $*** ******* ********** strong ****** ***** * years ** **% ****. However, ******* **** $** million *** ** ** due ** *** ***'* large (***** ****) ************ plan, ****** *** **** is ********** ** ********** market *** *** ******* or *******, ********* ******.

****'* ***** *** ******** after ********, ****** ****** reform ** *** ****** States ***** ******* *** company *** ******** ** invest ** ******.

Company **********

****, ******** *****, ***** ******, ********, Dashboard ****, *** ******* services ********* ** ***-*********** customers. **** ** ****** at $*.* *******, ** times *******, *** ******* for * ****-******* **** company.

1st ******* *** **** ******* **

**** ************ ** ******* **** 33% **** **** **** to $**** ***** **** exceeded ****'* ************ ** 12% **** ********* ****** *********** ******. **** ******* *** $680m, ** **% **** 2019 ******* * ******** years ** **+% ****** with * **% ******** annual ****** **** (****) since ****. **** ** well ********** *** **** ** 20% ****.

IPVM Image

***** ******* ****** ******* 60%. ***** ****** ********* to **** ** ** 2021 ** * **** of $** *******, **** was ****** ** *** expected ***** ** ******* awarded ** **** ******* *****.

*** **** ***** **** 8-minute ***-******** ***** ***** the ** ******** **** Axon:

CEO ******* ****** ************ ****

IPVM Image

****'* *** ****** ** make $*** ******* ** market *** *** ******* targets *** *** **** if *** *******'* ******* do *** **** ** even ****. (*** *** *********** ***** terms.)

****’* *** ** ******* options ********** ** ~*% of *** *******'* ******** share ***** **** **** hit * ****** *** and * ******* ** EBITDA ****** ** **** of *** ******. *** options **** * ****** price ** $**.**, **** when **** *** ***** $1.8 ******* ** **** (today's ***** ***** ** 5 ***** *** ****** price ** ~$***). ** all *** ******* *** met ** ****, ********* a ****** *** ** $13.5b, *** ******* **** be ***** $**. *********, only *** ******* ** options *** **** ******* to ****’* ****** ******* * $*.** market *** *** $**** adjusted ****** (**** *** take **** ******* *** value ** ***** ***** options ** ******** ***** based-compensation). *********, */** ****** cap ***** *** *** but ******* *** ******** EBITDA ******* *** ******.

$9.5 ******* *******, ** **% ***

****'* ************** **** *% ** May ***, *** ***** full *** ***** *******, from $*** * ***** to $*** **** ******** were *********. ** ** June ***, ****, *** stock *** ***** **% more ** $****** ** ***** *** all-time **** ** $*** in ******** ****.

IPVM Image

Impact ** ****** ****** ** *** ****** ******

** ************ ******** ****, ****’* ***** **** that ****** ****** ****** by ****** *****’* ****** and ********** ******** **** bolster ***** ** *** company's **** ******* *** Tasers:

*********, *** ************ **** communities, *** ** ** a *** ******* ****** and *** ******* ** the ****** ***** ** transform ****** ******. ** hear ******* ***** ***** customers ***** *** ******** to **** ***** *** protect ***** ***********. *** we ******* *** *******-******* approach ** ***** ***** challenges **** ******** ** drive *** ******.

Transition ******* ****

**** *** **** ************* to* **** *************** $**** ** ****** recurring ******* *** **** up **% **** $**** in ****.**** ******* ******* ** increase ********* ** $** million * *******.**** *** *** ******* churn ** ***** ********* earnings **** *** ******** net ******* ********* ** 119%, ******** **** *** average ******** ********* ** expand *** *** ** Axon ********.

**** ********** ******* **** makes *** ******* **** attractive ** ************ ******* of *** ******** ****-**** rewards ** ********* *******.

Axon ******* ************ **% ********/** **% **** ** *****

**** ** ******* * times ** ***** ** the ** ** **** are ** *** **** of *** *****. **** continue ** **** ******* equally ** *** *** of *** **:

IPVM Image

Revenue ********* ** *******

*** *******'* ******* ** roughly ** / ** split ******* ***** ******* and ***** *********:

IPVM Image

Tasers **** ******* ****** **** **** *******

***** **** ***** ****** was ******* ****** **** that ** **** *******, despite **** ******* ****** lower *********** *** *** company ******** *** ******* to *** **** ****** offering.***** ***** **** **** 36% *** ** ** 2021 *** **% ** FY **** ***** **** Camera ***** **** **** 15% *** ** ** 2021 *** **% ** FY ****.

IPVM Image

Competitor ******** ******** ******* ******, ***** ******* **** ** **** *****

******** *** ******* ******** in *** **** ****** market********* ** **** ********* 100%(+**,***) ** ** **** YoY ** **% (+*,***) for ****. *** **** still **** ***** ** many ***** ** ******** in ** ****, *** vs ***.

******* *** *** **** Motorola *** ***** *** gap **** **** ******* to ** ****.

Investing ** ****** *** *** ********

**** *** ******** ********* ******* ****** * ********* plan ** ****** ** growth:

** *** *** *** from *** *********** ******, we've *** ** *********** start ** *** ****. Our ***** **** ******** heads ****, ********* ** our ******* *** ******* growth ****** *** ** our ******** *** *******. I ******'* ** **** proud ** **** **'** built, ** ****'* ******** as * **** ****** agent, *** **********, *** most ********, ***** **'** heading. **'** ****** **** passionate ***** **********, *** the ******** ***** ********* to ****** *** ******** forward. - **-*******, *** & ******** ******* *****

*** ***** ** * management **** ** ** invest ** ******, ** that ** *** ******** delivering ************ ** ******* life *** ***** - Axon ********* **** *. Larson

Comments (0)

Read this IPVM report for free.

This article is part of IPVM's 7,028 reports, 935 tests and is only available to members. To get a one-time preview of our work, enter your work email to access the full article.

Already a member? Login here | Join now
Loading Related Reports