7. Flock Safety
Flock Safety, a police tech company from Atlanta, kicked off intense competition in the crime-fighting business this year. Flock Safety sells surveillance technology, including light-post mounted cameras, license plate reading systems, and drones, to police departments, private sector companies and communities concerned about crime.
Flock Safety says its technology was used in 10% of all successful crime investigations in the country, and in the successful recovery of more than 1,000 missing persons. Recently, its system was used to help find a missing person with dementia in Indianola, Iowa, after an alert from a license plate camera. In another success story, Flock helped track down an armed man in New Mexico, who was wanted on suspicion of a shooting in Oklahoma.
Flock has a new coffer to help its growth: It recently announced a $275 million round and 2024 revenue of $300 million, a 70% year-over-year increase. With investors including Tiger Global, a16z, and Matrix Partners, Flock Safety's scale and growth position it for an IPO within the next few years. In October 2024, Flock Safety acquired Aerodome, a pioneer in DFR technology for aerial surveillance; it plans to build a 100,000 square foot drone manufacturing facility in Atlanta.
It is not just police departments using the technology. Flock Safety says it now works with seven of the 10 largest shopping malls in the U.S., and 10 out of 40 of the largest U.S. health-care providers. It continues to add customers from the public sector, last year bringing on major U.S. cities and state agencies as new customers, including Hempstead, NY, San Francisco, CA; Austin, TX; and the California Highway Patrol.
The established player in its industry is Axon, a publicly held company founded in 1993. With annual revenue over $2 billion and America's highest-paid CEO, according to a recent Wall Street Journal analysis, Axon is known for its Taser technology. But Axon is now following Flock Safety's lead, recently announcing that it is adding light post-hung video surveillance cameras and drones. It also announced a new collaboration with Amazon's camera company Ring.
The competition may come down to which company – others compete in the space as well, including Verkada, a Silicon Valley startup with a valuation of $4.5 billion, according to PitchBook – can spread the widest and easiest-to-use surveillance net that integrates information across public and private sectors and across America's fractured municipal police system.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 days ago
- Yahoo
Meta acquires AI audio startup WaveForms
Meta has acquired AI voice startup WaveForms for an undisclosed sum, The Information reports. It's the company's latest buy to strengthen its new AI unit, Superintelligence Labs, and Meta's second major AI audio acquisition in the last month after it bought PlayAI. WaveForms, founded just eight months ago, raised $40 million from Andreessen Horowitz in a round that valued the company at $160 million pre-money, per PitchBook data. Two of the startup's co-founders – former Meta and OpenAI researcher Alexis Conneau, and former Google advertising strategist Coralie Lemaitre – have reportedly joined Meta. While at OpenAI, Conneau co-created GPT4-o Advanced Voice Mode neural networks. TechCrunch has reached out to WaveForms to find out if its third co-founder and chief technologist, Kartikay Khandelwal, will also join Meta, as well as the outcome of the deal for the roughly 14 other staffers (per LinkedIn) at the company. WaveForms appears to have taken down its own website, but the company's LinkedIn page describes its mission as solving the 'Speech Turing Test,' which tries to measure if a listener can distinguish between human and AI-generated speech. WaveForms was also developing 'Emotional General Intelligence,' which focuses on understanding individual self-awareness and management. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
2 days ago
- Business Insider
Lightning Strikes Twice for AXON as Analysts Eye $1,000 Price Target
Excitement is peaking at Axon Enterprise (AXON), the company behind TASERs, security body cameras, and cutting-edge cloud software for public safety. Earlier this week, the company published stellar earnings results, helping the stock to repeat history, almost to the day. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. On August 6th, 2024, the company reported better-than-expected earnings of $1.15 per share and immediately spiked higher on the news, before consolidating its gains in the weeks ahead. Judging by the stock's reaction to this year's figures so far this week, it would seem AXON's upward trend remains intact. AXON's latest Q2 report hit like a bombshell, sending the stock up 17% since Monday and pushing its gain to ~150% over the past year. With accelerating top-line growth and surging profitability, Axon is leveraging AI and exceptional customer retention to strengthen its grip on a recession-resistant industry. While the valuation is undeniably rich, this is a unique business—one that rarely, if ever, trades at a discount. That's why AXON remains one of my largest holdings. Revenue Growth Keeps Punching Above 30% Axon's Q2 revenue clocked in at $669 million, a 33% jump from last year. Not only did this mark the sixth consecutive quarter of above 30% revenue growth, but in fact, it accelerated from Q1's already impressive 31% clip. The software and services segment was the star of the show, up 39% to $292 million, fueled by premium digital evidence management and new AI tools like auto-transcription. Management emphasized strong demand for TASER 10 and Axon Body 4 as well, with platform solutions like counter-drone tech growing 86%. AI's integration is streamlining police workflows, saving 6-12 hours per officer weekly, and with annual recurring revenue (ARR) hitting $1.2 billion, up 39%, this growth train's got serious momentum. International expansion, particularly in Europe, and enterprise customer wins are also juicing numbers. In the post-earnings call, CEO Rick Smith discussed their 'product-led flywheel,' where new products drive subscriptions, which in turn drive more innovation. AI's role here is enormous, as tools like Draft One and live translation are boosting adoption, and with $10 billion in future contracted bookings, Axon's growth looks locked in for years. Then you have new tools like Evidence Translation and Smart Capture that are set to roll out, and make Axon's ecosystem even stickier. Evidently, with a net revenue retention rate of 124%, customers aren't just renewing their subscriptions, but they're spending more year after year. Margin Expansion Fuels Profit Powerhouse Profitability-wise, Axon's adjusted EBITDA hit $172 million in Q2, up 37%, with a margin of 25.7%, beating expectations. Management credited higher revenue and operating leverage, but the real magic seems to be in the product mix. Software and services, with a 75.6% gross margin, grew way faster than hardware, offsetting lower device margins from newer products like counter-drone systems. AXON's management commented in the earnings call that AI-driven efficiencies, like video auditing and real-time operations tools, are raising margins by cutting manual work. This focus on high-margin software helped adjusted net income reach $174 million, driving EPS to $2.12, well above analyst estimates. Earlier, Axon had flagged tariffs as a potential margin hit, but it seems they are easily absorbing those costs while still targeting a 25% adjusted EBITDA margin for the year. AXON Stock Valuation Remains Pricey Yet Justified Axon's current valuation is eye-watering. Trading at a P/S of 25 and a P/E of 131 based on 2025's projected $2.72 billion revenue and $6.60 EPS, this is easily one of the most expensive stocks in the market. However, the truth is that Axon has been trading at these lofty multiples for years, and time after time it has delivered. With revenue growth showing no signs of slowing and AI efficiencies kicking in, I'm not betting on multiple contractions anytime soon. Then you have to think of Axon's monopoly-like grip on public safety tech (TASERs, body cams, and cloud software), on top of operating in a recession-proof space. Police budgets don't decline in downturns, and Axon's ecosystem is sticky, with customers locked into long-term contracts. At the same time, AI is set to supercharge profitability, potentially shrinking that P/E as EPS grows faster than the stock price. I would argue that a run to $1,000 per share, which would imply a P/S near 30, might raise eyebrows, but for a business this dominant, it's not crazy. What is the Price Target for AXON in 2025? There are 16 analysts offering price targets on AXON stock via TipRanks, with an overwhelming bullish consensus. Currently, the stock carries a Strong Buy consensus rating based on 15 Buy and one Hold ratings over the past three months. No analyst rates the stock a sell. AXON's average stock price target of $857.07 implies less than 1% downside over the next twelve months. However, Wall Street has yet to update its post-earnings estimates, which will likely move higher after such a strong beat. Time to Back AXON as a Generational Compounder At the end of the day, Axon is doing what top-tier companies do: beating growth expectations, widening margins, and securing long-term customers with essential technology. Sure, the valuation may look toppy and extreme through a traditional lens—but with AI amplifying its model and public safety spending proving recession-proof, AXON's fundamentals remain rock-solid. I'm not trimming a single share because I believe it's wiser to add to generational compounders—history shows the market usually ends up playing catch-up to their long-term potential.
Boston Globe
3 days ago
- Boston Globe
Sarepta soars as revenue beats estimates on Elevidys milestone
Controversial surveillance startup Flock adds AI to police tech Flock Safety holds a ribbon cutting for their office in Boston's Seaport on July 22. Danielle Parhizkaran/Globe Staff Flock Safety said Thursday it will add artificial intelligence to its surveillance products used by US police departments, an update the company said will help make society safer and that privacy advocates have called 'abominable.' The sometimes controversial $7.5 billion Atlanta-based startup, which opened a second office last month in Boston, is best known for providing customers with automated license plate readers they can use to track vehicles nationwide. The new tool, Flock Intelligence, lets users investigate crimes using natural language to surface relevant records, images, and other data troves. The new, more powerful software offers a few dozen relevant images in a few seconds rather than requiring a manual review of thousands. The software also automatically pulls data, including footage collected in real-time from relevant Flock camera locations the moment a 911 call begins. Infusing AI into the software is designed to automate investigative work, narrowing thousands of leads to dozens 'instantly,' said Flock chief executive officer Garrett Langley. — BLOOMBERG NEWS Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up FINANCE Advertisement Trump opens the door for private equity and crypto as 401(k) retirement plan options Advertisement Millions of Americans saving for retirement through 401(k) accounts could have the option of putting their money in higher-risk private equity and cryptocurrency investments, according to an executive order signed Thursday by President Trump that could give those financial players long-sought access to a pool of funds worth trillions. There is no immediate change in how people invest part of their work earnings. Federal agencies would need to rewrite regulations to allow the expanded choices, and that would take months or more to complete. But once done, employers could offer a broader array of mutual funds and investments to workers, according to the White House. The president's order directs the Labor Department and other agencies to redefine what would be considered a qualified asset under 401(k) retirement rules. — ASSOCIATED PRESS MERGER Paramount and Skydance close their merger, kicking off reign of new entertainment giant Paramount Pictures Studio will be part of the conglomerate. Apu Gomes/Getty Skydance and Paramount officially closed their $8 billion merger on Thursday — kicking off the reign of a new entertainment giant after a contentious, year-long endeavor to get the transaction over the finish line. The new company — which will trade under the 'PSKY' ticker on Wall Street — brings Paramount's legacy Hollywood footprint, major TV networks CBS and MTV, streaming services, and more under the roof of a new power player: billionaire Skydance founder David Ellison. The merger's close came just two weeks after it received regulatory approval from the Trump administration. While now a done deal, the path toward that approval was far from smooth. Months of scrutiny and turmoil surrounded the transaction — particularly amid President Trump's legal battle with '60 Minutes,' the crown jewel of Paramount-owned broadcast network CBS. With the specter of the Trump administration potentially blocking the hard-fought deal with Skydance, Paramount agreed to pay a $16 million settlement to the president in early July. — ASSOCIATED PRESS Advertisement CHIPMAKER Intel's stock tumbles after Trump says its CEO must resign Intel CEO Lip-Bu Tan has been urged to divest investments in Chinese companies. Chiang Ying-ying/Associated Press Shares of Intel slumped Thursday after President Trump said in a social media post that the chipmaker's CEO needs to resign. 'The CEO of Intel is highly CONFLICTED and must resign, immediately,' Trump posted on Truth Social. 'There is no other solution to this problem. Thank you for your attention to this problem!' Trump made the post after Senator Tom Cotton sent a letter to Intel chairman Frank Yeary expressing concern over CEO Lip-Bu Tan's investments and ties to semiconductor firms that are reportedly linked to the Chinese Communist Party and the People's Liberation Army, and asked the board whether Tan had divested his interests in these companies to eliminate any conflicts of interest. Intel did not immediately respond to a request for comment, so it is not immediately clear if Tan, who took over as Intel's CEO in March, has divested his interests in the companies. — ASSOCIATED PRESS MEDIA Closure of Midwest-based newspaper chain leaves dozens of communities without a news source Dozens of communities in the Midwest and West learned Thursday they had lost their newspapers after an Illinois-based publisher announced it would abruptly close because of financial problems. News Media Corp., which owns local newspapers across five states, said it will close 14 operations in Wyoming, seven in Illinois, five in Arizona, four in South Dakota, and one in Nebraska. Touting itself as 'the voice of small town America,' NMC's closure affects longtime newspapers that were often the primary source of news in numerous small towns, worsening the problem of news deserts in rural areas. The closure follows a decades-long pattern of financial challenges for local newspapers — the US has lost over one-third of its print newspapers and two-thirds of its newspaper journalists since 2004 as the news media has struggled to adopt to a changing readership and revenue landscape, according to the Medill Local News Initiative at Northwestern University. — ASSOCIATED PRESS Advertisement HEALTH CARE GLP-1 weight-loss pills are coming. So are doubts about their potency. The Eli Lilly headquarters in Indianapolis. AJ Mast/Photographer: AJ Mast/Bloomberg Next-generation weight-loss pills could hit the market in the coming months, with new data raising a key question: Will patients embrace a more convenient alternative to injecting themselves, even if it means losing less weight? Eli Lilly said Thursday it will seek regulatory approval for its experimental weight-loss pill by the end of the year, announcing results from its latest clinical trial that, while positive, did not appear to be as potent as injectable anti-obesity medications. The pharmaceutical giant said clinical trial participants taking the highest dose of its once-a-day pill lost an average of 12.4 percent of their body weight, compared with a placebo group that lost less than 1 percent, over 72 weeks. That fell short of the weight loss achieved by participants injecting semaglutide, the active ingredient in Ozempic and Wegovy, in an earlier clinical trial. — WASHINGTON POST Trump orders federal regulators to probe alleged bank discrimination against conservatives President Trump has accused JPMorgan and Bank of America of debanking him and his companies in the past, something both banks have denied. HARUKA SAKAGUCHI/NYT President Trump on Thursday signed an executive order mandating a probe into whether banks have discriminated against conservatives and certain industries including gun manufacturers and cryptocurrency companies, invoking the vast powers to go after entities that the Republican president alleges have discriminated against him and his allies. The executive order deals with an issue known as 'debanking,' which is when banks close accounts of individuals or declines to go into business with certain industries. Trump has accused JPMorgan and Bank of America of debanking him and his companies in the past, something both banks have denied. Trump ordered federal bank regulators to make sure banks do not discriminate against individuals or companies for their political or religious beliefs. He also ordered bank regulators to probe when banks may have allegedly discriminated and refer the cases to the Department of Justice. The move could open banks to potential civil or criminal investigations, fines, or punishments. — ASSOCIATED PRESS Advertisement
