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Axon Enterprise, Inc. develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, TASER, and Software and Sensors. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence. Its products include TASER 7, TASER X26P, TASER X2, TASER Consumer devices, and related cartridges; on-officer body cameras, Axon Fleet in-car systems, and other devices; Axon Evidence digital evidence management software; Axon Signal enabled devices, as well as hardware extended warranties; and Axon docks, cartridges, and batteries. It sells its products through its direct sales force, distribution partners, online store, and third-party resellers. Axon Enterprise, Inc. has a strategic partnership with Fusus, Inc. to expand the capabilities of Axon Respond and the Fusus Real Time Crime Center in the Cloud solution to provide agencies real-time operations situational awareness, including streamlined investigative workflows. The company was formerly known as TASER International, Inc. and changed its name to Axon Enterprise, Inc. in April 2017. Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona.

Axon Enterprise

Andrea James: Okay. Welcome to our Second Quarter Earnings Call. Thanks for joining our executives on the call. A quick note about the faces you're going to see on the call today. We want to welcome Erik Lapinski to the team at Axon. He joined us earlier this year and he's our Director of Investor Relations and Financial Communications and we're thrilled to have him. And just Angel Ambrosio, I just want to say, we want to thank her so much. She's been on these calls for over 3 years and she's really helped to lead the way in making us Zoom-first on our earnings call. She's also helped us lead the way in ESG reporting. Angel is not going anywhere. We still work together side-by-side every day. Okay; on to business. 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. And our prepared remarks today are meant to build upon that very robust shareholder 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 meaning 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 and we discuss these risks in our SEC filings. And before we turn it over to Rick, we will play our video which is under 4 minutes today.
Patrick Smith: All right. Great job, Andrea and Angel and welcome, everyone, to our second quarter 2023 earnings call. It's great to be coming back to you with another excellent quarter and an even brighter outlook. I'm fortunate to spend most of my time talking to customers. Reception to our new products has been fantastic. Recently, I met with police chiefs who said, once their officers take TASER 10 out in the field, they will not go out again without it. After trials and successful de-escalations in the field, some have even joked that their officers are saying, you'd have to pry my TASER 10 from my cold dead fingers. This is the type of feedback that motivates us and keeps us moving forward. Axon Body 4 began shipping in June and we're also getting a great response. Later, you will hear from Brittany, who we recently promoted to Chief Operating Officer in addition to her role as CFO. Bringing these two roles together under Brittany sets us up for our next phase of operational excellence. As COO and CFO, Brittany will oversee our margin profile from end to end to ensure we execute on our ambition to deliver profitable growth for many years to come. Brittany has been a star addition to our team. She brings operational rigor, foresight, stewardship and candor. We also promoted Josh Isner who previously served as our CRO, then COO and is now President. Josh has been an instrumental leader at Axon for more than a decade. And during his tenure, he and I have worked side-by-side evolving and growing the company. I have given Josh many challenges over the years and he's never failed to exceed my expectations. As President, Josh will continue to oversee day-to-day operations while taking on an expanded role within the executive team and with our Board members. Expanding responsibilities for my team allows me to focus on what inspires me: our products and our customers. Product development will always be a key part of my job description. For years, you've heard me talk about my sometimes-futuristic views of what the market needs. And for years, we have successfully innovated. So what's around the corner? I'll touch on 2 key areas: robotic security and generative AI. In June, we acquired Sky-Hero which builds upon our strategy for robotic security and is highly synergistic with our product road map. Sky-Hero gives us a leading indoor tactical drone solution that complements our existing Axon Air strategy. While the acquisition will not be a meaningful revenue contributor this year, it fits into our long-term vision. We want to make the world a safer place and avoid situations where we have to send people through the door into highly dangerous, even deadly situations. Sky-Hero is already selling to U.S. federal government customers and SWAT teams in the U.S. and all across Europe who give very strong feedback about the value, durability, usability and reliability of their technology. Sky-Hero is based in Belgium and unlocks many new customer relationships across Europe. I was especially impressed with CEO, Yves and his team which is small and scrappy and they really move fast. They're going to fit in great here at Axon. And finally, here's how we're thinking about generative AI and large language models. Like we've already been doing with traditional AI, we will use these newer technologies to create game-changing products for our law enforcement customers. Several years ago, we published a video on the future of policing. This video features scenes where a police officer was able to feed their body camera video into an AI system which then created a draft report, auto populated of the details in the audio/video record. The point is, we were talking about generative AI before it really even existed in a usable form. Now I'm not sharing this for bragging rights but what it means for you is that we don't have to pivot our strategy because our strategy has anticipated this future reality for years. We spend a lot of our time and I spend most of my mental energy studying key technology trends and then mapping those trends against customer needs. We don't wait for the customer to ask for it. We don't even wait for the technology to exist. We map evolving technologies that we believe will mature in the coming years against existing customer pain points and then we invest early, so our ecosystem will be ready to catch the ball when the underlying technology matures. This is precisely what is happening now with large language models and with broader generative AI. Our mission-driven philosophy to leverage exponential technologies to solve the problems we care about is the core to our value creation engine. An investment in Axon is investing in the future of AI and it has been for several years. The flywheel for AI technologies, including LLMs, is powered by signals and data. We have invested hundreds of millions of dollars into building out an ecosystem of wearable cameras and sensors and the world's leading cloud platform that securely hosts the enormous data generated by this expansive ecosystem. Everything we have built over the past decade has been in a -- position us to be able to safely and ethically and securely collect, share and analyze that data for our customers, paving the way for public safety adoption of ever more advanced AI tools. These tools will build upon and expand the AI applications that are already a critical component of the Axon ecosystem. And just like we evangelized and we're the first to bring cloud software at scale to public safety, we think Axon will lead the way and bring advanced AI designed with thoughtful, ethical controls at scale to public safety. We're already seeing really promising results from our early work here and we're just getting started. You're up, Josh.

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