Axon sees third consecutive year of more than 30% growth

 

Key operational milestones of 2024 are as follows:

• Surpassed $2 billion in annual revenue and $1 billion in annual recurring revenue
• Annual bookings over $5 billion drove total future contracted bookings to $10.1 billion
• Awarded largest deal in company history, coming from an enterprise customer
• Full-year net income margin of 18.1% drove 25.0% Adjusted EBITDA margin with 60%+ free cash flow conversion
• Surpassed 1 million total software users
• Shipped more than 200,000 TASER devices, 300,000 body cameras and over 9 million cartridges

Axon sees third consecutive year of more than 30% annual growth closed 2024 with record quarterly revenue of $575 million in Q4, up 34% year over year, for our 12th consecutive quarter of 25%+ growth. TASER revenue of $221 million grew 37% year over year, fueled by the continued scaling of TASER 10 and growing adoption of Axon’s VR training solutions. Sensors & Other revenue of $124 million grew 18% year over year, supported by continued strong demand for Axon Body 4 and Axon Fleet 3. Axon Cloud & Services accounted for 40% of its total revenue, growing 41% year over year to $230 million as adoption of our premium subscription offerings continued to build.

Axon’s momentum is strong heading into a new year. Looking ahead, Axon expects to deliver 2025 annual revenue in a range of $2.55 billion to $2.65 billion and Adjusted EBITDA of $640 million to $670 million. This reflects approximately 25% annual growth and approximately 25% Adjusted EBITDA margin at the midpoint of our guidance ranges.

5 Big Innovative Leaps in 2024

1) Artificial Intelligence in Policing — We introduced a suite of AI-powered solutions that are transforming public safety by enhancing efficiency, accelerating decision-making, and streamlining workflows. Our AI Era Plan integrates cutting-edge technologies like Draft One—our fastest-growing software solution—contributing to over 100,000 incident reports and saving officers 2.2 million minutes of valuable time through AI-driven incident reporting. Axon is at the forefront of AI-driven public safety, with more major advancements expected in 2025 and beyond.

2) Interoperable Real-Time Crime Center Technology — We strengthened our Real-Time Operations (RTO) platform with the acquisition of Fusus, a global leader in real-time crime center technology. Axon Fusus supports millions of livestreams a year across over 2,000 agencies as it integrates data from diverse sources—CCTV, body cameras, ALPR, drones and sensors—into a unified, cloud-based platform, enabling decentralized, real-time access.

3) Unmatched Drone as First Responder — Axon Air has evolved into a comprehensive public safety drone platform through our acquisition of Dedrone and our expanded strategic partnership with Skydio. These advancements led to the Axon Drone as First Responder (DFR) solution, which integrates secure, autonomous aircraft with mission-critical software and airspace security capabilities. With the ability to arrive on scene in just 1-2 minutes, drones enable rapid assessment and intervention when every second counts. The full potential of our DFR solution is unlocked through its native integration with Axon Fusus. Together, these technologies  provide unparalleled situational awareness, improving response times and maximizing operational efficiency in this rapidly expanding space.