How the Company Behind TASER Guns Is Becoming a SaaS Powerhouse

Axon Enterprise (NASDAQ: AXON) is a company few investors know about, but it has a product (the TASER stun gun) that most people are familiar with. It started a few decades ago with the release of the first TASER, but it has since morphed into a full-scale technology company that develops hardware and software tools for law enforcement agencies. Here is why Axon Enterprise is one of the highest quality businesses out there, and why investors should take a hard look at the stock.

Image source: Axon Enterprise.

As already mentioned, before the last 5-10 years, Axon's main focus was perfecting the TASER. The projectile weapon is still a big part of Axon's business, but a lot of growth is now coming from its new software-as-a-service (SaaS) offerings. With its Evidence.com platform, Axon allows police departments and government agencies to store, manage, and automate their evidence databases from one source in the cloud. It also uses artificial intelligence to audit officers and automatically redact videos to make sure everyone is following the proper protocols, an important part of running a police department. Axon also sells productivity software to help officers with records management, saving officers time that used to be spent filing physical paperwork by hand.

Source Fool.com