Taser Maker Axon Enterprise Stock Soars To Lead S&P 500, Nasdaq

Axon Enterprise (AXON) shares surged nearly 14% to lead S&P 500 and Nasdaq gainers Thursday, a day after the Taser maker topped profit and sales forecasts and lifted its outlook on demand for its new artificial intelligence policing tool.

The Scottsdale, Arizona-based firm reported first-quarter adjusted earnings per share of $1.41 on sales that jumped 31% year-over-year to $603.6 million. Analysts surveyed by Visible Alpha expected $1.30 and $587.0 million, respectively.

Axon said the revenue figure exceeded its expectations, “driven by Software & Services, strong adoption of TASER 10, [body-worn camera system] Axon Body 4 and growing demand for platform sensors.” The company recently unveiled Axon Assistant, “an AI voice-enabled companion built into Axon Body 4.” On Axon’s earnings call Wednesday, CEO and founder Patrick Smith said Axon Assistant ensures police officers will “have an always available voice-driven AI assistant delivering critical information exactly when and where it’s needed” in the field.

Axon raised its full-year revenue outlook to a range of $2.6 billion to $2.7 billion from the prior $2.55 billion to $2.65 billion, representing roughly 27% annual growth at the midpoint. It also lifted its its adjusted EBITDA projection to $650 million to $675 million from $640 million to $670 million.

Shares of Axon rose almost 14% to about $685 in recent trading. They had been up just over 1% this year entering Thursday’s session.