Press release
Axon (AXON) Reports 2020 Revenue of $681 Million, Up 28%, Raises 2021 Outlook
Q4 2020 revenue grows 32% year over year to $226 million on strong demand for TASER devices, cloud software SCOTTSDALE, Ariz., Feb. 25, 2021 /PRNewswire/ --
About this update from Axon Enterprise, Inc.
[{"type":"text","content":"Q4 2020 revenue grows 32% year over year to $226 million on strong demand for TASER devices, cloud software\n\n\nSCOTTSDALE, Ariz., Feb. 25, 2021 /PRNewswire/ --\n \nDear Shareholders,\nEvery day, we hear stories about how our products are improving policing and driving safer outcomes for everyone.\nSITUATION: OFFICER IN TROUBLE\nAgency: Midwestern agency with about 1,000 sworn officers\nIncident: An officer was involved in a struggle with a subject and began to radio for help, but couldn't complete the communication or broadcast her location or status. The agency's real- time crime center personnel used Axon Respond to geographically locate her and livestream from her Axon Body 3 camera — accessing critical awareness simply and securely from a Web browser.\nPersonnel saw that the suspect had grabbed ahold of one of the officer's arms. The agency dispatched backup support and the responding officers completed the arrest with no injuries to the officer or suspect. An agency supervisor said, \"The technology is irreplaceable in critical incidences. It's always been well-appreciated by the police officers. Can't say enough about how important it was for that officer that day.\"\nIn 2020, we solidified the foundation for our next decade of growth. First and foremost, we served our customers, team members and communities during a global pandemic. At the same time, we secured our first Dispatch customer, established a solid foothold in the Federal market, launched our Respond platform and grew our international revenue by more than 70%. We are proud to have delivered a record $681 million in revenue, representing 28% growth, $1.2 billion in contract bookings, and $221 million in annual recurring revenue. We wrapped up the year with an exceptional fourth quarter, highlighted by revenue growth of 32%, strong profitability and robust global demand for our TASER devices. The results showcase the leverage in our business model.\nOur mission — from day one of our founding — has always been to obsolete the bullet. That has evolved in tandem with societal changes. Today we also aim to reduce social conflict and enable a fair and effective social justice system. We are on a clear path to making Axon synonymous with public and personal safety. We are investing today for a reality where officers reach for their TASER device before they reach for...