Thesis
After the recent market selloff, Axon looks like a compelling investment and I initiated a position.
The company, formerly known as TASER, has diversified itself into a company that sells more than just stun guns to police departments. The company now also sells body cameras and subscriptions to a Software-as-a-Service (SaaS) called evidence.com that stores digital evidence on behalf of police departments.
Prior to the strategy shift, Axon operated in a stun gun market that had an addressable market size of $1.5 billion. Now, total addressable market is $7.7 billion. With $344