Axon Enterprise, Inc. (NASDAQ:AXON) Q4 2023 Earnings Call Transcript
Axon Enterprise, Inc. (NASDAQ:AXON) Q4 2023 Earnings Call Transcript February 27, 2024
Axon Enterprise, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Erik Lapinski: All right. Hello, everyone. Thank you for joining Axon's executive team today. I hope you've all had a chance to read our shareholder letter, which was released after the market closed. You can find it at investor.axon.com. Our prepared remarks today are meant to build upon the information and the financial tables 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 meeting 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.
We discuss these risks in our SEC filings. We will also discuss certain non-GAAP financial measures. A description of each non-GAAP measure and a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure can be found in our shareholder letter as well as in the Investor Relation section on our website. All right, every quarter we play a video to kick off our call. We love how this helps you get a closer view and feel for our business. To start us off today, we're going to play a video we put together that hits on a bit of what we talk about when we tell you about our moonshot. It's a little under three minutes. Let's pull up the video. [Video Presentation]
Rick Smith: All right. Thank you, Erik, and thanks all of you for joining us today. Welcome everyone to our fourth quarter 2023 earnings. It's great to come back to you with another incredible year in the books for Axon. We kick off these calls with those videos to help you understand what we do. Sometimes seeing these kinds of scenes brings out different emotions. But that's what our customers face every day. And making those complex situations safer for everyone involved is what energizes us in our work. I've talked about my abhorrence for violence many times in the past. [Technical Difficulty] everyone who chooses to come to work here. We envision a world where violence is just far out thought, but we are constantly trying to find new forms of technology to make this a reality, and we're really proud of the progress we've made over the last year.
First, with seemingly small things like adding a warning sound to TASER 10 to help communicate to someone on the other end that something unpleasant is impending with the hopes that that person will rethink their decisions and alleviate the need for a use of force action at all. And adding a watch me button to our body camera so that an officer can proactively request a second set of eyes for them during their most high risk situations. Next, we thought a bit more outside the box, introducing individually targeted probes, enabling far more effective range on TASER 10 and making our innovative TASER technology more effective in more situations. And we reimagined real-time operations, introducing two modern communication capabilities with two-way voice communication through our body cameras to help complex decision trees in real time.
As we look ahead, we're solving for higher level challenges like enabling better decision making in potentially life threatening encounters, or effectively expanding a police force by reducing the extensive time that they spend on paperwork. And we envision accelerating the speed of the entire justice system. We're innovating in diverse areas from robotic security to Generative AI to virtual reality. And there's really so much more that's still left for us to do. When I think back to the video we just showed you, think about what would happen in those situations if an officer didn't have one of our TASER devices or was not wearing one of our body cameras so we could all understand what unfolded and why. It excites me that we made huge strides and that our technology is driving better outcomes.
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