Axon raises annual revenue forecast on strong security demand
The headquarters for Axon Enterprise Inc, formerly Taser International, is seen in Scottsdale, Aizona, U.S., May 17, 2017. REUTERS/Ricardo Arduengo/File Photo
TASER maker Axon Enterprise raised its full-year revenue forecast on Monday, betting on continued demand for its software products and security devices.
Shares of Axon were up 3.5 per cent in aftermarket trading.
The Arizona-based company — known for its law enforcement technology, including TASER energy weapons, body-worn cameras, and digital evidence management systems — has benefited from rising corporate spending on executive security and increased federal investment in immigration enforcement.
Axon now expects 2025 revenue to be between $2.65 billion and $2.73 billion, up from its earlier forecast of $2.60 billion to $2.70 billion. Analysts on average expect $2.66 billion, according to data compiled by LSEG.
For the quarter ended June 30, Axon reported adjusted earnings of $2.12 per share, well above analysts’ average estimate of $1.46.
Quarterly revenue came in at $668.54 million, compared with expectations of $631.56 million.
