Axon Q3 Results: Record Revenue of $105 million; Software Annual Recurring Revenue Exceeds $100 million
Axon (Nasdaq: AAXN), the global leader in public safety technology, today released the following quarterly update letter to shareholders. Results included: Total quarterly revenue of $104.8 million, up 16% year-over-year. Axon Cloud revenue of $23.9 million, up 47% year-over-year. Software & Sensors annual recurring revenue of $101.6 million, up 60% year-over-year. All-new TASER 7 conducted energy weapon in active field trials, shipping soon. Introduced Axon Body 3, with LTE live-streaming capability
In early October, Axon introduced the Axon Body 3 camera, Axon's first LTE-connected device. Axon said, that will procure embedded LTE services directly from FirstNet, built with AT&T, and Verizon's dedicated Public Safety Private Core, eliminating the need for agencies to handle the logistics of a separate LTE bill. Axon Body 3 retains all the features that made Axon Body 2 the market leader, including full-shift battery life, ruggedness, simplicity, and ease of use. Improvements include better low-light capture, higher image clarity, GPS functionality, and audio that allows for ambient noise reduction.