Taser maker Axon forecasts full-year revenue above estimates

By Thomson Reuters Feb 27, 2024 | 4:02 PM

(Reuters) – Taser maker Axon Enterprise on Tuesday forecast full-year revenue ahead of Wall Street estimates, banking on strong demand for its software products and recently launched Taser 10.

The company expects full-year 2024 revenue between $1.88 billion and $1.94 billion, compared with analysts’ expectations of $1.88 billion, according to LSEG data.

Axon’s shares were up 6.7% in extended trading.

The company, which is the leading maker of U.S. police body cameras and supplier of drones to law enforcement authorities in North America, Europe, and Australia, also reported a better- than-expected profit for the fourth quarter.

It posted $1.12 per share, above estimates of 85 cents per share.

Axon Cloud software was the primary driver of growth in the quarter, the company said.

“Ramping shipments of Taser 10 and Axon Body 4 also supported our growth as demand for both new products continues to build,” the company said.

The overall quarterly revenue came in at $432.1 million, above estimates of $420.9 million in the October-to-December quarter.

(Reporting by Pratyush Thakur and Kannaki Deka in Bengaluru; Editing by Shailesh Kuber)