Axon Enterprise is the leading provider of conducted electrical weapons under its TASER brand. The company also sells sensors (mainly body and fleet cameras) and software solutions (evidence management, records, justice discovery, etc.) to its customers. Over its history, Axon has transformed from mainly a hardware provider to a subscriptions based hardware + software solutions provider. In 2023, the company’s Software and Sensors segment accounted for 61% of its $1.56B in revenues. By contrast in 2015, this segment was just 18% of its $198M in revenues.
Nice job! I noticed this company back in 2017 when someone published an investment thesis on Seeking Alpha.