Axon Enterprise, Inc. (AXON) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 9, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Andrea James

Hello, everyone. Welcome to our First Quarter 2023 Earnings Call. We hope you have had a chance to read our shareholder letter, which you can find at investor.axon.com. Our prepared remarks today are meant to build upon the already robust information you find in that letter.

During this call, we will discuss our business outlook, and make forward-looking statements. Any forward-looking statements made today are pursuant to and within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These comments are based on our predictions and expectations as of today and are not guarantees of future performance. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and we discuss these risks in our SEC filings.

And before we turn the call over to Rick, we will play our quarterly update video. It's about a 5-minute video today.

[Video Presentation]

Patrick Smith

All right. Thank you, and great job, Andrea and Angel. Hello, and welcome to our shareholders. We feel great that 2023 is off to a fantastic start. After announcing our moonshot goal last year to reduce gun related deaths between police and the public by 50% over the next 10 years.

We've brought to market two major product releases that can serve as the workhorses to help get us there. When we talked about our moonshot goal to cut gun deaths, TASER 10 is our Saturn 5 rocket. And Axon Body 4 is mission control. Customer reception to TASER 10 has been great. We began shipping in March and many customers have called the product a true game changer. For those of you who are new to our business, new TASER devices take a few quarters to ramp in terms of sales as our customers need to trial and get trained before they can go to full deployment.

Next, as you saw in the video, as Axon Accelerate last month, we announced Axon Body 4. Four years ago on our earnings call, I told you about our vision for the future of body cameras and public safety, but once our cameras can talk over wireless networks, they've become something more like an Alexa on your chest as opposed to just a camera you wear to record, and that would open up a whole host of really interesting services.