AAXN - Axon: Police Reform Growth And High Margins
Axon Enterprise, Inc (AAXN) is a market leader in non-lethal weapons, body cams and dash cams. And the company will continue to be a beneficiary of any future police reforms, particularly in the United States. Impressively, the company is successfully transitioning towards a more predictable subscription-based business model. Furthermore, the attractiveness of Axon’s subscription bundle is being boosted by continuous innovation and introduction of newer software offerings such as Axon Records. In this article, we review the evolving business model, the opportunity, growth trajectory, valuation and risks, and conclude with our opinion on