Axon Stock Skyrocketed on Tuesday. Here's Why Shares of the TASER Maker Popped.
The stock jumped 16% to an all-time high, pacing S&P 500 advancers today. Axon shares have risen 46% since the start of the year, far outpacing the benchmark index's 7% gain over the period.
The Scottsdale, Arizona-based company reported adjusted earnings per share of $2.12 on revenue that increased 33% year-over-year—its 14th consecutive quarter with a gain above 25%—to $668.5 million. Analysts polled by Visible Alpha had expected $1.44 and $641.0 million, respectively.
Software & Services revenue surged 39% to $292 million, paced "by growing adoption of premium digital evidence management solutions, real-time operations, virtual reality training and productivity tools," Axon said. Connected Devices revenue rose 29% to $376 million, "driven by demand for TASER 10."
Axon lifted its full-year revenue outlook to between $2.65 billion and $2.73 billion from the prior range of $2.60 billion to $2.70 billion. It also raised its 2025 adjusted EBITDA forecast to between $665 million and $685 million from $650 million to $675 million.
"Artificial intelligence, drones and robotics, real-time operations, cameras, and our newest TASER devices and virtual reality, each of those are resonating across our customer base," Axon founder and CEO Rick Smith said on the earnings call late Monday, according to a transcript provided by AlphaSense. "There's no one breakout product driving conversations. It's everything."
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