Brittany Bagley, the Chief Operating Officer and Chief Financial Officer of Axon Enterprise, Inc. (NASDAQ:AXON), recently sold 3,500 shares of the company's common stock. The shares were sold at a price of $640 each, resulting in a total transaction value of $2.24 million. Following this sale, Bagley retains ownership of 76,635 shares in the company. The transaction took place on November 22, 2024, and was disclosed in a filing with the Securities and Exchange Commission.
In other recent news, Axon Enterprise Inc. reported a strong third-quarter performance, marked by record bookings and significant revenue growth. The company's revenue in Q3 increased by 32% year-over-year, and the adjusted EBITDA margin reached 26.7%. Axon's focus on innovation, particularly in artificial intelligence (AI) and TASER products, has been a key driver of this success.
The company's recent acquisition, Dedrone, has been fully integrated, and the launch of new AI-driven products is underway. These developments have led Axon to raise its Q4 revenue guidance to $560-570 million and project a full-year revenue exceeding $2.07 billion.
Despite some sequential margin decline expected in Q4 due to integration costs, Axon maintains a confident outlook. The company anticipates maintaining a 25% adjusted EBITDA margin by 2025 and is on track to meet its 2025 revenue target one year early. TASER business has achieved six consecutive quarters of record revenue, indicating strong demand for TASER 10 and potential for international expansion.
The company continues to innovate in AI and TASER products, aiming to modernize public safety through technology and enhance its growth prospects. These are the recent developments in Axon Enterprise Inc.
InvestingPro Insights
As Axon Enterprise's COO and CFO Brittany Bagley reduces her stake in the company, investors may find additional context in recent financial data and expert insights. According to InvestingPro, Axon's market capitalization stands at an impressive $47.16 billion, reflecting strong investor confidence in the company's future.
The company's revenue growth remains robust, with a 32.32% increase over the last twelve months as of Q3 2024, reaching $1.94 billion. This aligns with an InvestingPro Tip indicating that analysts anticipate continued sales growth in the current year. Additionally, Axon boasts impressive gross profit margins, which stood at 59.75% for the same period, underscoring the company's operational efficiency.
Despite the recent insider sale, Axon's stock performance has been remarkable. InvestingPro data shows a staggering 178.85% price total return over the past year, with a 71.82% gain in just the last three months. This exceptional performance is complemented by an InvestingPro Tip highlighting Axon's strong returns over various timeframes, including the last month, three months, and decade.
It's worth noting that while the company's growth trajectory appears strong, the stock is trading at a high P/E ratio of 158.3, which some investors might consider elevated. This valuation metric is consistent with another InvestingPro Tip suggesting that Axon is trading at high multiples across various metrics, including EBIT, EBITDA, and revenue.
For investors seeking a more comprehensive analysis, InvestingPro offers 22 additional tips on Axon Enterprise, providing a deeper dive into the company's financial health and market position.
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