AXON Enterprise In 2005, TASER International began to offer an accessory for its taser products, TASER Cam, which adds a In April 2017, Rick Smith, CEO announced that the TASER International is now Axon Enterprise (NASDAC. least 45,000 TASER Cams had been sold., [14115][15] AXON). In 2008 , the company unveiled its first body camera, the Axon Pro. It was designed to be head-mounted, and upload footage for online storage on a web-based service known as Evidence.com. TASER's CEO Rick Smith Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona. explained that the products were designed to "help provide revolutionary digital evidence collection, storage and retrieval for law enforcement". (16] The company piloted Axon Pro in various small cities and towns. (16) In What a ride. I started as a 23 -year-old idealist working in an inventor's garage in Tucson, desperate to bring to 2009 , after prosecutor Daniel Shue exonerated Fort Smith police officer Brandon Davis based on footage from market the technology that would become our TASER weapons. I couldn't have predicted how our product and an Axon Pro camera, both Davis and Shue began to provide testimonials for the product in its marketing.!16] the company itself would evolve, but I'm incredibly proud of how it has. 23 years and 180,000 lives saved later, m more excited than ever by our mission to protect life and the impact we can continue to make in the world Especially in the wake of the Michael Brown shooting, the company's body camera business saw significant with our broader mission as Axon. growth. Smith argued that the company was "not just about weapons, but about providing transparency and solving related data problems." "(12] In April 2013, the Rialto Police Department released the results of a 12 - To all the men and women of public safety: We are grateful for the work you do every day, and for your month study on the impact of on-officer video using x on Flex cameras. The study found an 88%drop in partnership. We look forward to continuing to innovate together with you as we imagine what possibilities the complaints filed against officers and nearly a 60% reduction in officer use-of-force incidents. [IT] future can bring. We wouldn't be where we are today without you. TASER opened an office in Seattle in 2013,[18] and an intemational office in Amsterdam, Netherlands in May To the world at large: It's time for change. Our goal is to triple the time officers can spend serving their 2014[19] In June 2015, the company announced the formation of a new Seattle-based division known as Axon, communities by automating the burden of paperwork. Sound impossible? Good. We love proving doubters which would encompass the company's technology businesses, including body cameras, digital evidence wrong !) management, and analytics. Rick Smith explained that the branch was inspired by Microsoft's use of the Xbox brand to branch into entertainment businesses, stating that "Axon was the name that we used for Company History selling cameras historically, but we realized that brand had the room to grow and encompass all of our In 1969, NASA researcher Jack Cover began to develop a non-lethal electric weapon to help police officers connected technologies." The Taser brand would still be used for the company's weapons products. [20[21] control suspects, as an altemative to firearms. (4) By 1974, Cover had completed the device, which he named the On April 5, 2017, TASER announced that it had rebranded as Axon to reflect its expanded business. The "Tom Swift Electric Rifle" (TSER), referencing the 1911 novel Tom Swift and his Electric Rife; to make it company also announced an intent to offer free one-year trials of its body camera products and Evidence.com easier to pronounce as a word, Cover later added an "A" to the acronym to form "TASER". [5] The Taser Public services to U.S. law enforcement agencies. While the Taser product line still contributes to a significant portion Defender used gunpowder as its propellant, which led the Bureau of Alcobol, Tobacco and Firearms to classify of its revenue, the company's technologies business had seen major gains. [2i] As of 2017, they comprised a it as a firearm in 1976, 1617] a decision that limited sales. [1] In 1980 , the Los Angeles Police Department quarter of the company's business, while Axon cameras had a market share of 85% among police departments in conducted a successful field test of an improved version (having reconsidered its earlier rejections of the the United States' major cities. [1] The rebranding was also intended to help distance the company from the technology after the shooting of Eula Love), but the device remained commercially unsuccessful and Cover's negative stigma surrounding the Taser brand, with Smith acknowledging that they were "a bit of a distraction" company, Taser Systems Inc,, collapsed., [3] when recruiting employees for its technology business. [3] In 1993, Rick and Tom Smith formed AIR TASER, Inc, to, with Cover, design a version of the device that would use compressed nitrogen instead of gunpowder as a propellant. [9 [10] During development, the company In May 2018, Axon acquired competitor Yjelus for $4.6 million in cash and $2.5 million in common stock. [23] faced competition from another vendor, Tisedpou, whose product had become associated with its alleged ineffectiveness during the police confrontation of Rodney King. [11] After nearly going bankrupt marketing other products such as an electroshock-based anti-theft system for automobiles known as "Auto Taser",[12] the company, later renamed TASER International, introduced its TASER M26 weapon in 1999.[11] With a $6.8 million deficit in 2001, TASER International took steps to improve sales by offering to pay police officers to train others on how to use their products; this marketing 1. Analyze the firm's financial statements by preparing common-size financial statements. Identify technique helped improve the company's market share, reaching $24.5 million in net sales by 2003 , and nearly the weakness and strength of the company. $68 million in 2004. (11) In May 2001, they filed for an initial public offering and began trading 2. Do a trend analysis of the ratios and it indicate whether the ratios are improving or deteriorating? on NASDAQ under the stock symbol TASR. [ohation neotul 3. Prepare the key financial ratios which illustrate short-term solvency and long-term solvency. What is the capital strueture of the company and how well the company uses its leverage ratios to The company also took significant action against competitors, having acquired the aforementioned Taseetroo increase the value of the firm? and aggressively defending its patents. Patent lawsuits by TASER Intemational led to the shutdown of both Stinger Systems and its suceessor company, Karbon Arms; both companies were founded by Robert Gruder. 4. Prepare the operating efficiency, profitability ratios, and market ratios. How effectively the Despite the controversies that have centered around the products (including deaths attributed to taser usage), the company has managed its resources? company maintained its dominant market position, [13] 5. Perform an extend DuPont analysis for the three years and indicate what the results tell you? Shift towards bodycams \begin{tabular}{|l|l|l|l|} \hline Total Liabilities & $64,036 & $40,477 & $30,214 \\ \hline SHAREHOLDER'S EQuITY & $64,036 & $40,476 & $30,215 \\ \hline Treasury Stock Value & $15,595 & $15,595 & $15,595 \\ \hline Additional Paid in Capital Common Stock & $109,523 & $96,216 & $52,827 \\ \hline Retained Earnings / Accumulated Deficit & $10,988 & $16,990 & $17,227 \\ \hline Other Equity & $132 & $14 & $110 \\ \hline Total Stockholder's Equity & $104,785 & $97,626 & $54,350 \\ \hline Liabilities \& Stockholder's Equity & $168,821 & $138,102 & $84,564 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline EBIT & $168,123 & $14,150 & $6,394 \\ \hline EBITDA & & & \\ \hline Reconciled Cost of Revenue & $313,601 & $258,276 & $217,952 \\ \hline Reconciled Depreciation & $18,694 & $12,475 & $11,361 \\ \hline NetlncomefromContinuingOperationNetMinorityInterest & $60,018 & $1,724 & $882 \\ \hline Normalized EBITDA & $149,429 & $1,675 & $4,967 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline End Cash Position & 356,438 & 155,551 & 172,355 \\ \hline Changes in Cash & 202,869 & 18,780 & 179,001 \\ \hline Effect of Exchange Rate Changes & 1,982 & 1,976 & 329 \\ \hline Beginning Cash Position & 155,551 & 172,355 & 351,027 \\ \hline Income Tax Paid Supplemental Data & & 10,893 & \\ \hline Gapital Expenditure & 50,278 & 72,870 & 16,343 \\ \hline Issuance of Capital Stock & 105,514 & 306,779 & 0 \\ \hline Free Cash Flow & 74,216 & 34,389 & 49,330 \\ \hline \end{tabular} AXON Enterprise In 2005, TASER International began to offer an accessory for its taser products, TASER Cam, which adds a In April 2017, Rick Smith, CEO announced that the TASER International is now Axon Enterprise (NASDAC. least 45,000 TASER Cams had been sold., [14115][15] AXON). In 2008 , the company unveiled its first body camera, the Axon Pro. It was designed to be head-mounted, and upload footage for online storage on a web-based service known as Evidence.com. TASER's CEO Rick Smith Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona. explained that the products were designed to "help provide revolutionary digital evidence collection, storage and retrieval for law enforcement". (16] The company piloted Axon Pro in various small cities and towns. (16) In What a ride. I started as a 23 -year-old idealist working in an inventor's garage in Tucson, desperate to bring to 2009 , after prosecutor Daniel Shue exonerated Fort Smith police officer Brandon Davis based on footage from market the technology that would become our TASER weapons. I couldn't have predicted how our product and an Axon Pro camera, both Davis and Shue began to provide testimonials for the product in its marketing.!16] the company itself would evolve, but I'm incredibly proud of how it has. 23 years and 180,000 lives saved later, m more excited than ever by our mission to protect life and the impact we can continue to make in the world Especially in the wake of the Michael Brown shooting, the company's body camera business saw significant with our broader mission as Axon. growth. Smith argued that the company was "not just about weapons, but about providing transparency and solving related data problems." "(12] In April 2013, the Rialto Police Department released the results of a 12 - To all the men and women of public safety: We are grateful for the work you do every day, and for your month study on the impact of on-officer video using x on Flex cameras. The study found an 88%drop in partnership. We look forward to continuing to innovate together with you as we imagine what possibilities the complaints filed against officers and nearly a 60% reduction in officer use-of-force incidents. [IT] future can bring. We wouldn't be where we are today without you. TASER opened an office in Seattle in 2013,[18] and an intemational office in Amsterdam, Netherlands in May To the world at large: It's time for change. Our goal is to triple the time officers can spend serving their 2014[19] In June 2015, the company announced the formation of a new Seattle-based division known as Axon, communities by automating the burden of paperwork. Sound impossible? Good. We love proving doubters which would encompass the company's technology businesses, including body cameras, digital evidence wrong !) management, and analytics. Rick Smith explained that the branch was inspired by Microsoft's use of the Xbox brand to branch into entertainment businesses, stating that "Axon was the name that we used for Company History selling cameras historically, but we realized that brand had the room to grow and encompass all of our In 1969, NASA researcher Jack Cover began to develop a non-lethal electric weapon to help police officers connected technologies." The Taser brand would still be used for the company's weapons products. [20[21] control suspects, as an altemative to firearms. (4) By 1974, Cover had completed the device, which he named the On April 5, 2017, TASER announced that it had rebranded as Axon to reflect its expanded business. The "Tom Swift Electric Rifle" (TSER), referencing the 1911 novel Tom Swift and his Electric Rife; to make it company also announced an intent to offer free one-year trials of its body camera products and Evidence.com easier to pronounce as a word, Cover later added an "A" to the acronym to form "TASER". [5] The Taser Public services to U.S. law enforcement agencies. While the Taser product line still contributes to a significant portion Defender used gunpowder as its propellant, which led the Bureau of Alcobol, Tobacco and Firearms to classify of its revenue, the company's technologies business had seen major gains. [2i] As of 2017, they comprised a it as a firearm in 1976, 1617] a decision that limited sales. [1] In 1980 , the Los Angeles Police Department quarter of the company's business, while Axon cameras had a market share of 85% among police departments in conducted a successful field test of an improved version (having reconsidered its earlier rejections of the the United States' major cities. [1] The rebranding was also intended to help distance the company from the technology after the shooting of Eula Love), but the device remained commercially unsuccessful and Cover's negative stigma surrounding the Taser brand, with Smith acknowledging that they were "a bit of a distraction" company, Taser Systems Inc,, collapsed., [3] when recruiting employees for its technology business. [3] In 1993, Rick and Tom Smith formed AIR TASER, Inc, to, with Cover, design a version of the device that would use compressed nitrogen instead of gunpowder as a propellant. [9 [10] During development, the company In May 2018, Axon acquired competitor Yjelus for $4.6 million in cash and $2.5 million in common stock. [23] faced competition from another vendor, Tisedpou, whose product had become associated with its alleged ineffectiveness during the police confrontation of Rodney King. [11] After nearly going bankrupt marketing other products such as an electroshock-based anti-theft system for automobiles known as "Auto Taser",[12] the company, later renamed TASER International, introduced its TASER M26 weapon in 1999.[11] With a $6.8 million deficit in 2001, TASER International took steps to improve sales by offering to pay police officers to train others on how to use their products; this marketing 1. Analyze the firm's financial statements by preparing common-size financial statements. Identify technique helped improve the company's market share, reaching $24.5 million in net sales by 2003 , and nearly the weakness and strength of the company. $68 million in 2004. (11) In May 2001, they filed for an initial public offering and began trading 2. Do a trend analysis of the ratios and it indicate whether the ratios are improving or deteriorating? on NASDAQ under the stock symbol TASR. [ohation neotul 3. Prepare the key financial ratios which illustrate short-term solvency and long-term solvency. What is the capital strueture of the company and how well the company uses its leverage ratios to The company also took significant action against competitors, having acquired the aforementioned Taseetroo increase the value of the firm? and aggressively defending its patents. Patent lawsuits by TASER Intemational led to the shutdown of both Stinger Systems and its suceessor company, Karbon Arms; both companies were founded by Robert Gruder. 4. Prepare the operating efficiency, profitability ratios, and market ratios. How effectively the Despite the controversies that have centered around the products (including deaths attributed to taser usage), the company has managed its resources? company maintained its dominant market position, [13] 5. Perform an extend DuPont analysis for the three years and indicate what the results tell you? Shift towards bodycams \begin{tabular}{|l|l|l|l|} \hline Total Liabilities & $64,036 & $40,477 & $30,214 \\ \hline SHAREHOLDER'S EQuITY & $64,036 & $40,476 & $30,215 \\ \hline Treasury Stock Value & $15,595 & $15,595 & $15,595 \\ \hline Additional Paid in Capital Common Stock & $109,523 & $96,216 & $52,827 \\ \hline Retained Earnings / Accumulated Deficit & $10,988 & $16,990 & $17,227 \\ \hline Other Equity & $132 & $14 & $110 \\ \hline Total Stockholder's Equity & $104,785 & $97,626 & $54,350 \\ \hline Liabilities \& Stockholder's Equity & $168,821 & $138,102 & $84,564 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline EBIT & $168,123 & $14,150 & $6,394 \\ \hline EBITDA & & & \\ \hline Reconciled Cost of Revenue & $313,601 & $258,276 & $217,952 \\ \hline Reconciled Depreciation & $18,694 & $12,475 & $11,361 \\ \hline NetlncomefromContinuingOperationNetMinorityInterest & $60,018 & $1,724 & $882 \\ \hline Normalized EBITDA & $149,429 & $1,675 & $4,967 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|} \hline End Cash Position & 356,438 & 155,551 & 172,355 \\ \hline Changes in Cash & 202,869 & 18,780 & 179,001 \\ \hline Effect of Exchange Rate Changes & 1,982 & 1,976 & 329 \\ \hline Beginning Cash Position & 155,551 & 172,355 & 351,027 \\ \hline Income Tax Paid Supplemental Data & & 10,893 & \\ \hline Gapital Expenditure & 50,278 & 72,870 & 16,343 \\ \hline Issuance of Capital Stock & 105,514 & 306,779 & 0 \\ \hline Free Cash Flow & 74,216 & 34,389 & 49,330 \\ \hline \end{tabular}