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Axon Enterprise (AXON)

Participants
Andrea James Investor Relations
Rick Smith Chief Executive Officer
Luke Larson President
Jawad Ahsan Chief Financial Officer
Josh Isner Chief Revenue Officer
Jeff Kunins Chief Product Officer
Jonathan Ho William Blair
Josh Reilly Needham
Will Power Baird
Mita Marshall Morgan Stanley
Keith Housum Northcoast
Paul Chung JPMorgan
Call transcript
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Operator

[Started Abruptly] …in the meeting as an attendee and will be muted throughout the meeting.

Andrea James

Hello, everyone. Welcome to Axon’s Fourth Quarter 2021 Earnings Call. We appreciate you are tuning in today in the midst of considerable market volatility and global -- geopolitical risk. Today we have available Axon CEO, Rick Smith; President, Luke Larson; CFO, Jawad Ahsan; Chief Revenue Officer, Josh Isner; and Chief Product Officer, Jeff Kunins. had released to after all Letter, our you’ve was which the hope a read chance Shareholder I market closed.

it find can at You investor.axon.com.

in are upon Our to that information today robust remarks letter. meant the build

Any and uncertainties meaning they XXXX. and performance. materially. we Securities predictions on call, Litigation the pursuant results outlook in forward-looking today our today filings. During These Safe forward-looking within Harbor this made discussed the of discuss statements are as based our to are not and expectations future Private of are of All comments the subject and our guarantees to are Reform cause differ business statements forward-looking risks make Act SEC risks These statements. of and to of actual are provision

we today there’s before pre-recorded video This to video. we’re making to Rick, update in update we the events But to about was quarterly our the go escalated. because are decision play important it so information going our video. quarterly before global current Okay, share

Thank you, ahead. Operator. [Video Thank Okay. Go Presentation] you.

Rick Smith

Andrea. how and or transparency, We whether life. under times global democracy business. was can from All instability the respond. can Axon’s you, to day don’t a forward videos. is the for that to wars year creative will choose But we’ve when from on protecting got But best stand queue in truth principles -- watching I are love in and our you history. Thank just those We’ve the we waiting heavy in most What team include been we in looking finance the do here. we And and right. choose as breaking I this attack we the get pandemics. for to waiting video, hearted see sharing live geopolitical results out we’re Europe.

to national who foster designed thought as with and United institutions. strong XXth peace, law customer, Goal My to U.K., our they as in justice the are strengthen Nations police Our Ukraine Sustainable are products in the well support teammates Development and are trust especially Ukraine. rule excellent of our the

kick we off us. I’m Axon’s of best days As are XXXX, confident ahead

them a helping us today. they been Carmona shape and are Last to further has and to known product from month, retiring evolved giving single Dr. our do. people human wonderful is TASER are at announced he be what platform Richard excel a of a where as contributor from years after Axon, Board We Dr. service. Carmona as prioritizing will Axon simply positioning XX a strategy we being. to tremendous we company He Axon’s

of We’re only for but incredibly XX years he grateful the us to him not way define. for service, his forward to also helped

challenges better user As building user. test customers really of on our powerful real that of not core a I reflect lot experience great use at software to Axon what driving a solutions, experience. our solving the when well is them built been customer’s our of stand We’ve which but the our they needs boxes, and apart. creating competitors emphasis we combination ultimately, them. building passionate Historically, creates attracting user customers, about hands products fit in software that does it RFPs, a on strength, When a religious is check our for talent. and function delight It’s and understanding software

landscape. competitive consider the we As

Axon world. customers software down connects We continuing that winning on buyers to cloud. When about sets advance agencies look and software of award of employees about to welcoming we than their the apart a the me I ceremony are mission just the I important chiefs come built ecosystem. One great recently from road, State Colonel factors talk U.S. us for ecosystem that delivering a the aren’t users is Jenny. raving on to hear work, Police us a and customers from even to competitors our truly they for we’ve most headquarters Perhaps a recognized sets Axon. mindset Jenny usually don’t competing our seamlessly succeed. of integrated focused that a are because that hardware, technology suite, the from our call mostly rockstar upgrading who seamlessly high market their to Project the Schupp Axon with is margin from to achieve community regularly platform our Manager, those important so more Great performance mission hardware platforms upgrading where like value asking have experience highly got a the positive apart. about the our it’s they passionate share, here of them ready lower forward that many employees, get in a to safer helping to surprise

tech it a passionate and is and combination So just on you Great team. works. proud people magical to have our

our a capabilities delighting momentum allowed sheriff’s glad cameras, to I’m network, joining platforms cameras, ecosystem continue body The to community. suite see to ties year county centers our several in domestic from onto fleet We’ve share our TASER state here software with market. growing cities, weapons, our Our and major major it’s with drones has whole Fleet capture the converted in agencies competing third-party X controls and last us and the together customers. of

clear our on laser our and growth. asset. are it’s that best our pursuing people We’re focused mission And driving

grateful to have contributing I’m from on people our our heard success. people and we team over they been the attract these the years, you’ve are to fortunate As who to among these have do. in what thankful best Luke incredibly world

XXXX you detail. Luke to over more some to highlights of in Now, through our take

Luke Larson

on Thanks, our XXXX, to Axon and customers employees. our commitment focus Rick. our mission, In our

a We than hired continue company more by Axon to records we rapid and of teammates set XXX be we XXX filing scale. year in than Last applications. new period new patent more

of a period turbulence. We our supported also customers through

package launch of families Family law and a resource mental creation First, the for a and the confidential included enforcement. and initiatives our of free One training health

demos visited last we initiative agencies customer fantastic Axon course events Roadshow. Another where six We was and XXX the hosted our launched products. of we months, over gave the of year

our international markets Police National deployment. Dutch large grew undergoing the adopting camera large a Military Police and deployment also TASER with Paulo a São We body

launched and year product On demand expectations. ALPR, last the Fleet has and we X front exceeded our

an As Premiere justice a category result, Attorney far customers our projections new Fleet and for December and incredible surpassed have as of us opens first bookings in launch and for software sector. served XXXX our the raved up the entire in references

stellar we to be our due entire market While line last about platform. clearing of local industry-wide state we’re chips to quick quarter, shortages case. teams. in impacted done that new remains sight had in we business backlog Operationally, been the the told the that achieve X to that half told able work wins and continues you by you the highlight of our to first to and We segments, has TASER record key results XXXX our

delays We continue to team well. through extremely challenges supply navigating and delivery our manage including is chain

that environment. about intentional our chain. ability feel preparedness, We and Shareholder what as Letter, approximately manufacturing bookings to investing to great out our in $XX be also in thereby to meet pipeline flexibility, in our have demand. continues customer very supply a been and XXXX, also an and called million over improving capacity that elongated today’s dynamic We a is of we want of shifting result note I ABX into

in post often noted, hub finally, And Axon, that to make recruiting hear opening fifth people about them for talent so R&D Rick is Tampere, we City, please are an to as you will and you fantastic an teams have a us. announced our someone grow. wants we focus Finland; As our the We be world want Scottsdale, refer at we after London, Chi incomparable me Vietnam. to who the major Axon, us recently Seattle; we the if best Minh know impact, come Ho to in which

Jawad over call the our turn to Ahsan. Officer, I’ll that, with Chief Financial Now,

Jawad Ahsan

like by revenue to past some of plus recapping in of a start our over few I’d row is third XX% the growth. financial This highlights year our years. Excellent.

back And our years revenue EBITDA five million recurring over of the same has XX% over period, revenue annual XXXX. over from CAGR at our adjusted three years, grown tripled to has Our past $XXX and a has to same CAGR of XXXX looking while making and trends more that only help importantly, operating investments will continue achieve all life. come, to not growth exciting us topline leverage, delivered these a mission strong our We’ve at grown protect both but for those XX%. years to

to does that bottomline our look generation. As on to look financial beyond, ahead third growth like? to XXXX third today this topline to We’re going we cash strategy, of a our What use leverage, pillar introducing in intend that and to addition and advantage momentum and pillar offense. is and stay we

sustainable in keep a This for years that for of cash make laser on plus enterprise that and free We that as recently flows. We’re the increasing build our to on to of will foundation us return grow business XX% will businesses long-term nimble growth an and about highly profitability terms of amounts will shareholders talked flow cash for revenue and be subscription-based generates flexibility recurring stable come, the built model investing deliver generating machine we flexible. growth a building R&D. our focused

and those sites as capabilities, our new also reasons flow as making around than pace of to customer our world, Shareholder more in both feedback more paramount to of usual to move CapEx partner this as need our importance than But our and topic. know ability we spaces R&D. itself. new is well technology, we’ll at and we for this Letter color offices quickly investments. new depend you gave continued opportunity us We’ll and new footprint growth manufacturing, showcase finally, expect from formal presents on still will where with also the including need expands. base. inorganic can about these for We’ll can terms diverse Transparency facilities our It’s We’re we need for you on hear when more expectations, our and the streamline in from XXXX. just the us cash that increasingly with gather and collaborate guidance automation global And that right

And the of positioned number cash operating be number performance continued recap, ramp years forward. a we’ve us strong of after to lead terms pillars can business To cash discipline from two rule expect going flow. a for on XX. three, in strong flow strong continued of We’re the topline. in by in It’s, be to we’ve in free cash that laid one, three how operations, what Number that the to the will investments which incredibly ramp will out, come. our outperforming evidenced the generative proud you

technologies going story growth our to in Looking by their wave and excited that ahead, right. we’re of part become the next of new own important very also are products an

facing all Before questions, I global echo Rick’s we to citizens. want about are the move geopolitical we as comments to crisis

very Our Andrea, much to Ukraine been questions. citizens are thoughts with move had our proud and of to Axon protect have never life. mission we more today that, with the of And let’s

Andrea James

so everyone much, we Let when we’re guys. you that, into bring Awesome. in up Okay. gallery gallery Matt, me all view? Thanks know can in Are gallery. when view?

our We’ll Ho question ahead, Okay. Jonathan. first Jonathan take Great. Blair. William from at Go

Jonathan Ho

out maintain, what the ended up Hi. supply clearing different wanted to to that Good sort backlog able you the your afternoon. what what’s around be second sort by sort start chain materializing you’ll maybe around of was And between and with expectations quarter? of I the giving confidence of, quarter? backlog

Rick Smith

line delays. some may say, year really we that on strong we impacted the just some job ensuring of I some to we revenue a very We it, original our had just And quarter-to-quarter some phenomenal about year see based that material key material delays Jonathan, feel chain total guidance We strong that But published. drivers. question. thinking. summarize had of I thanks to of our that we supply feel the have teams still sight would those done Yeah. If still mix for outlook. for

Jonathan Ho

that, continue over Okay. as how customers. Thank you types customers to follow-up, as And of a What going new increasing for, then that coming much referenced bookings can we time? contribute to look that get I of get just of can sort ratio? those sense a at forward, just from XX% to wanted you.

Jawad Ahsan

States to in Nice specifically, to international Jonathan. Thanks, you long-term. have again. our goal the United I’d international see for bookings say, is outperformed

our federal So right in think federal the the we’re just entire will that and scratching I team. acknowledge surface segment government now

just short a Just $XX ago, year last bookings closer end million of million again, in business we a $XX kind -- the was and of think to million we’re $XXX two we’re the segment. And growth. years every beginning to that year then we’re of that

segments one segment, Justice in to -- momentum well. especially as segments pretty then, times And confidence, of domestic the where two substantially. the our bigger outpace hope things of challenging part expect it so we and we and segments. starting some over And correction segment I a lot But we’re time. the have still enterprise, domestic mix those at certainly, and makes bigger that of as that to a new see encouraging those grows and become

Jonathan Ho

Thank you.

Andrea James

Thanks, Okay. Jonathan.

Next Josh Reilly ahead, at question Go Josh. from Needham.

Josh Reilly

quarter on Hey, there. Thanks questions my and and for the nice taking job year.

So, on? over what’s the maybe know do any potential Ukraine going as news in And this disruption pipeline opportunity, impacts anticipate of last in business here curious I result the region? your you there think, the given European but I that week, given it’s early, how a

Rick Smith

our against pipeline We’ve Europe. building spent really years and team And and years in year a team the well really last performed goals. strong up

bookings normalized of XX%. terms In about are up we five-year

we’re to close bookings, XX-year up of terms XX% international. in In

that to sales deals lot a these energy and through of cycle. So are time the take move

ones working that to this close been quite for on we we’ve the year, so some already expect largely And time.

terms we’re place how like think where future one predict that, we out play I no in feel in will the this of can they’re a now said from term. longer But of uncertainty. So the having some insulated

we more our course, bit last in EMEA was there there’s but than confident there of little XXXX. risk and feel throughout business today a really week, international So, still

Josh Reilly

look for versus increase pushed then that XXXX. much related at the guidance products? and TASER if other million adjust $XX ABX million And revenue you to How of around the increasing is Okay. of increase assumptions that’s to $XX

Rick Smith

mix. healthy a it’s think I

business and We the we TASER there. segments, contribute to on believe other did is book some this the think QX, QX, and to really bookings really year. the team a and hardware products, for video QX across a growth domestic only trend not pipeline -- shipments year. hard develop grow we our then both year make continuing to going we’re newer and -- side nice software of this will I pushing job significant And the of last throughout continue expect out in but a closing and over that strong really year both

think that it’ll drive there. of mix a revenue bookings we So result that be and factors

Josh Reilly

guys. Got it. Thanks,

Andrea James

you. right. All Will Baird. ahead, at Power Go Thank Will.

Will Power

out Rick, Management starting a new maybe of Fleet you, it’s whether Thanks. Great. on Digital right. Evidence All for Bolt rolled bunch justice. on VR, exciting with X, you all X, products, and

can five next excited for most should these growth You opportunity, company? new categories be I product you biggest the look over the guess, the what years, get and what

Rick Smith

the Sorry, of -- like I technology side That’s crazy of new we’ve the TASER on muted pick. my myself the there, it’s over my XX the years. had to move. of it’s I patented next awesome which kind again, actually It’s got love like business, over some asking hard children coming most. Like, me

pistol business, And opportunity attorneys the in deals and confident. by rapidly, by the work the system, fairness am who their out that need. software. scaling may team talks able going highly are defenders, the efficiency to for the to able justice other tools of that’s have be We passionate, enable quickly. literally to with they in we’re clients what over system impact process efficiently having minutes have find video to make outperform and to about criminal X-millimeter high there the public evidence really XXXX. only margin side to them a solving Over problems justice our I It’s on like plea

do, people’s because important across whole is, much pretty work foundational a So to we an really important our impacts society. business, safety everything modern it’s public way, and in lives

something give and spending medieval consumer, the improving efficiency life friends, two board, better something putting citizen bullet. lives need the space the saving across my whether to system the given a XXXX justice lives or of on board. consumer jail. started ruining killed the It’s people focus to their it’s I his excited business and in We across a than after mean, I’m technology this just So because better. now we’ve shelf, private the of world on the or I

excited the board. We’re across just

feel it a be come like think, just and just fits love But world agencies before my Europe. it the hoping of major five turning I’m just I can watching enthusiasm, I’ll feel were a can’t capricious war? job. pumped. the got day all about literally global saw modern the always the what doesn’t happening It an I and use XX gone. got and hoping that I think quite minutes revolves, forgive such is half I we’re was but world is it we I roadshow, corner And I you rid of century. I a actually think two what’s we’re back home at I was people to tell It’s help in. of it So like also, is circles, even you to super being going all my back and at this it call. I’m get in awesome And ago. Like, in XXX this, years in business but And looking from military the seeing here. we’re killing what next And accepted acceptance hopefully, not the this differently.

Will Power

Yeah.

you’re into how does which a and seeing Okay. challenging I whoever ask terms hub sense. opening for London, employee makes in has can just know been in environment, or second Maybe one, wants there? talk take all Maybe That I new outlook and hiring difficulty you especially It just presumably if that Thank or retention, Luke talent it. R&D for you. you’re about to a plants of technology. helps. factor what the either hiring,

Rick Smith

expand to the a Yeah. have And we’ve world ball. really well, I’m a of Luke, global to we’re us take got that around to it’s sourcing really first, continue that, we’re really we as London and talent Europe. talent going Part customers U.K. you footprint, to what and putting in in customers. our across of have doing Scotland it’s where the global feel incumbent we’re footprint and to take I’ll beginning our that closer and on lot the important,

sourcing So you help this with getting but there helps that, rest talent, it’s With Luke, retention. as also can customer a we take perspective, from both on intimacy a think well. the

Luke Larson

Yeah. Great question.

like we, opportunities. work world acceleration this lot years the every in remote in and employee seen given last As a of two that’s the of we’ve look,

Axon, super are environment? I company. to going, we we in heads are lot because an to kind going beneficiary about companies excited of that the how that, of think I’m think people I scratching possibly of going we’re built a be retain their this because amazing

So when we talk we’ve we about the we that and candidates, out we’ve mission that go We talked purpose the to talent and built talk the great team have. and attracted. about the that

I us. see the future of we think exciting part one is of the ahead really business that growth

that’s so, And it’s employees, for for employees not existing as well. prospective only

it’s so, about confident And to one going that thrive, challenging we we’re it’s but think a we because we built business. team feel hiring and be really the I definitely a such going to where environment, built great

Rick Smith

works even who of to the humanity place people. but doing our have to what Stay are us. of bit that the don’t of really the work and aspire together, celebrates and a We’ve a who not team video really know for good time people has from it it. only more want come seeing tuned at online, We we one for a we who do, big It showcases we’re recognizes you, the end rave got problems, put on is that reviews call. getting that

on and to in. together care in about and is trying recruit employees that our working current folks with we we’re all problems resonating with this We’re

Will Power

Yeah. forward to that. Look

Andrea James

Thanks. Yeah.

video you that excited end. with really to at We’re the share

stick So around. do

at Morgan Okay. Mita Marshall Stanley.

next. are You

Mita Marshall

Thanks. Great.

you listed that quarter. were having kind You guys number the with of international agencies success a in of

the whether for Just they’re kind s the customers there’s body either software wanted that you’re bundle sense TASER camera whether and products, able different And price of where you the just if just or passed but guys a you’re of most and there? seeing were -- increases getting maybe sense needs international alternatives to side of there’s more need think the likely be front digging maybe get to like kind or of in that a traction, on seeing to to sounded up with customers? and to lot find then, around any second, if traction a what on of, it work Thanks. you will those for

Rick Smith

Thanks much Yeah. for the very question.

think, product. I customer our on of regardless focus So, international, is acquisition

some less in to time and in-car and are are for are sure cams TASER, there. make that’s say think common we TASER interview get more video differentiator over States I And time to those and United as strategy for products countries each believe we at But within cameras any common it’s markets, interested become s body So of moment internationally customers a customers bundling trusting our and we with more be ecosystem most s competitive little Commonwealth or and can been of suited pursuing one in productive us for the really always will relationships. body agency. of a I’d better there delight room. products our in in others lot really in or and can TASER strong the how build the even delight a still, it And these expand over then markets, customers might us see of well. the our it’s little has a with

out We’ve the announced our of in anticipate fair along to we how about We providing. be customers. pricing, at really where terms passing the feel pricing point, address that of we’re and meet market or We So in don’t any to it. our think, pricing pricing we And any every terms this in focus stand of new value right January. that’s we a great passing good increases and internationally. best about And team now. I to as feel year the go kind and really we of -- decide

contracts We many supplier our of have locked in.

that. year starting and and capabilities six to forth, products inflation account and contain and do so escalator deals new XX-year Our for good continue feel about in we new to

Mita Marshall

Great.

Luke Larson

automation, for investment help estimates the investment it manufacturing, that’s you why big this to a add labor on we side. our that working laid on, is hear standpoint a streamlining, cash right, cost in attack we’re that’s in from out thing we want CapEx making to one reduction, are our I from

Mita Marshall

context. the for Thanks Perfect.

Andrea James

Thanks, Mita. at Housum Keith Good. Northcoast.

You’re next. up

Keith Housum

guys. updating a year Thanks, product us give it. of this terms highlight expect a for terms ball perhaps, three now rollouts new or existing can in being bit, Can and in the ones, guys in us in you give guys a or out crystal update you new bit little ones? of Perhaps, perhaps, to ABX process. Appreciate here, old little are you products the speak a old, changing years of is an in where improvements or TASER, what it’s or the updating

Rick Smith

expected Well, coming to where ones my I’ve The here, that along. we we that, the see are, getting contain excitement to their know new are to start expect to got do you some end of Keith. surprised products lifecycle,

stuff going can’t we I launched that, TASERs. three years on a unfortunately, than Fleet a So body and And on. cadence share you on cameras get X. five you on a any let every we with do specifics. my two I you and than just and you the good give But, got of to give years lot other we more approximately But half to way. There’s coming can’t know, smile on

Keith Housum

guys XXXX, comment -- probably May is that so in am Xs no My for Jawad. on my the correct, question more buy you for I It’s one. XXXX, just I assumption missing that mass, and Okay. for like necessary, next one.

supply perhaps in we context issues, fourth the in some got how quarter, you in costs freight costs increased guys should fourth you the give us and other the can I’m that about XXXX? what you quarter. impact noted assumed chain was that did think guys You

Jawad Ahsan

ahead it supply we due had, we when Yeah. The that saw impact you is muted gross talked on bit were get unable But, really investments compression, actually about costs shortages allocated again we that. pointing to that the in so automation back little that to making overall, and caused unable demand big a the processes, fixed largely to disruption. inventory margins fairly compression. to some and margin of our over we’re to not our was fulfill chain This is when had manufacturing, out in of margin be a

that’s making those been been of to short-term that for those to We’ve XX%. of great now drive benefits And bit target results. a the again, we years, smaller a because that as and we’re pay we, seeing in a long-term of such something expect up few ramping They’ve on and to over couple seeing towards years. dividends from continue and we’re We’re the those. scale next margin investments try

Keith Housum

Okay.

to Jawad recap, don’t XXXX of either So you significant compression [ph], issues. any those expect because in

Jawad Ahsan

correct. That’s

Keith Housum

…on cost side.

Okay. it. All right. Thanks, guys. Appreciate

Andrea James

Thank you, Keith.

looks ahead, Paul. Next Chung we’ll Paul like Go go JPMorgan. dropped off, has so up it at to Eric

Paul Chung

questions. Thanks Hey. for taking my

want -- I’ve between a how the higher on XQ do the push just a revenues Then impact follow-up. that bundles, of in less and And given we So just XXXX. your expect side I contribution on then about to volatility talk kind little of is out your of quarters? the kind in shape weapons TASER subscription visibility then the and

Rick Smith

Yeah.

it’s TASER and as for teams sight hard credit supply good lot chain into think to get deserve The can a question. of a much that. the line I really, of we really worked as they

outlook feel chain supply our we support on think revenue new guidance. much the that very does I

QX, speaks guide And that to we and that in million think promising $XXX surpassed regard. remember to as forward did I good able a that in think to be so, and we and path could got a job you that around guidance that they every that, really to the the did in we’ve team component just pulling fact beat

substantial became to and is a between revenue the getting more There and pipeline less team have in swing QX. risk little execution last quarter-to-quarter fairly better us a and of allows better terms consistent building that because that at year of the is results quarter-to-quarter. less it kind was QX do In flux, overall. across think segments I

the continue to that how pipeline be in to So with, the and regard. really percentage strong start focus, quarter a that going that’s we of year primed we certainly for every really I close maximize we can is and believe another the team

Luke Larson

half we over a over of we your Paul bookings strong one on of then indicator reasons booked, future to -- the little question, because our growth. visibility half revenue is have highlight to And really got number, half, it’s like visibility and it’s about our

Paul Chung

then of And then here, the year, flow, about we the as shortages of some despite flows year cash the you then would move expect so through kind very and base a shape of the component Thanks. be subscription the cash and over of helpful. on talk cap strong, that dynamics larger benefits working

Rick Smith

one is personally I’m This extremely… really Yeah. we’re about. excited

Paul Chung

Yeah.

Rick Smith

had for to Last years we’ve something bit We’ve out it’s foundation that expect to campus, we in that’s a flow automation, going obviously building going to our generative the and really years itself about year out of the investment And for of the working been new built half we the first come. the -- a is …excited in the is laid year. be that and of that itself hugely manufacturing capital cash it. a use we cash in starting going business to statements. work manifest This initiatives. many

We have new around sites and world. the facilities opening

broken one business that our And We’ve reasons so excluding out the more recurring given capital versus sort expenditure. of of ongoing, we’ve that items. visibility into that’s the like one-time

going couple significant once next we visibility to we’re that of couple to going be cash. investments those years through and years next give of really expect with one-time pretty throwing the over the those we’re are you that of items We off amounts to

Andrea James

us the hand spot, off, -- a Go second. off to jump And have has anybody you Paul. Don’t you ahead. going James. has we from has Power Is put Oh, mean assume up on Astrid? to I’m all joined You but your a once. looks not. because it is I’ll mute. Will his do of up? question, video another Okay. have can Astrid come there like Raymond kind follow Thanks, else joined up. Don’t at give you who

Will Power

a market was on corrections follow There in was a with intrigued up, nice I -- the like one I believe. Ohio, look

we forward? like looks for So, further so opportunity of pipeline kind It a of color win, at I’d cusp seems of how the a what more as we get love been the opportunity Are significant to a about think that’s to that budding moving do finally like. opportunities while.

Rick Smith

big is was often account. to for Ohio the in multiple at NYPD every body Yeah. Department deliver. and corrections a about market facility of office years one took for that here. huge California camera like, Corrections size a There’s Absolutely. the team the win about internally talk Deploying example, correctional We of and

get. out here. the team a some the there’s and offerings go of over customers a build to to half suit market and So corrections that year and and We’ve out packaging better there bundling reworked continued to big last we’ve our

but of So of more are a still conventional be to part different part of really progress. forward. and we There moving lot of a growth a growth sure do lot only the law work customers. than about forward, to But enforcement state not we’re local that also do a moving for expect sale our excited and our our a to federal

Andrea James

follow Go a Jonathan Thanks, Will. has ahead, up. Jonathan.

Jonathan Ho

Hi, there.

that programs of in us Thank we when sort maybe started adoption? be that adoption can success given VR given you’re just So just VR to you seeing Are you. the from of stimulus VR, the space? step I see faster can ask, that it’d any or ASPs in thought there in remind funding of drive there. much call just And can maybe even up and how a you appropriate

Rick Smith

Absolutely. Yeah.

this with as carte all emerging our more technology say, have I’d going ASP from that VR of packages extremely a $XX and that able So, making of if we’re sure of offering well. TASER early the better the a that to the on buy that adoption products, do and uplift that through X, side like an obviously, right the TASER better about that now. VR, we’re X our simulate can is TASER of than focused the right a We we and month bullet, you officers some on a is to disruptive mission, it’s far now, we believe our type we stress in But will. building is course, field. other la and further experience

becoming million in year can is which as leader the believe body kind this our up one category And past both fast of space. a market $XXX in we business driving indicator. and focused the this here. team’s so XXX cameras great And said outperformed this really sales, we big product we’re is as in on we focused this on and segment product our like, bookings of really next really And

Jonathan Ho

Thank you.

Andrea James

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Rick Smith

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