Police body-camera maker TASER International, Inc. announced Wednesday that effective Thursday, it will change its name to Axon Enterprise Inc. (AAXN). In a separate move to encourage clients to pay for more of the company’s software offerings, Taser is set to offer free products to police departments around the U.S.
The Scottsdale, Arizona-based non-lethal weapons maker is offering to outfit every police officer in the U.S. with the company’s Axon body cameras free of charge for one year. But there is a catch: If a police department damages or decides to keep the cameras, they'll have to pay full price.
The name change comes as the long-time maker of electrically charged stun guns, used to temporarily incapacitate a person, as well as other law enforcement and self-defense products, tries to transition into a multi-purpose company with a huge software component.
Taser’s stock is up 0.46% to $22 per share in after-hours trading Wednesday, after being up 6% in intraday trading. TASER is currently a Zacks Rank #3 (Hold).
Body-cameras have been both in-demand and in the news a lot lately, due to the litany of high profile police shootings. But Taser hopes that by giving out body-cameras and some other services for free, police departments will sign up for the company’s newer software offerings.
But a bulk of Taser’s revenue still comes from its traditional taser gun and camera business.
Almost a quarter of Taser's revenue now comes from its software segment—which the company only really started to sell in 2012. Taser's subscription-based Evidence.com, which typically runs on five-year contracts, helps police departments manage video and other evidence.
The company recently acquired artificial intelligence start-up Dextro in order to help police search and redact footage. Taser also hopes to build an Artificial Intelligence division.
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Here's Why Police Body-Camera Maker TASER Changed Its Name
Police body-camera maker TASER International, Inc. announced Wednesday that effective Thursday, it will change its name to Axon Enterprise Inc. (AAXN). In a separate move to encourage clients to pay for more of the company’s software offerings, Taser is set to offer free products to police departments around the U.S.
The Scottsdale, Arizona-based non-lethal weapons maker is offering to outfit every police officer in the U.S. with the company’s Axon body cameras free of charge for one year. But there is a catch: If a police department damages or decides to keep the cameras, they'll have to pay full price.
The name change comes as the long-time maker of electrically charged stun guns, used to temporarily incapacitate a person, as well as other law enforcement and self-defense products, tries to transition into a multi-purpose company with a huge software component.
Taser’s stock is up 0.46% to $22 per share in after-hours trading Wednesday, after being up 6% in intraday trading. TASER is currently a Zacks Rank #3 (Hold).
Body-cameras have been both in-demand and in the news a lot lately, due to the litany of high profile police shootings. But Taser hopes that by giving out body-cameras and some other services for free, police departments will sign up for the company’s newer software offerings.
But a bulk of Taser’s revenue still comes from its traditional taser gun and camera business.
Almost a quarter of Taser's revenue now comes from its software segment—which the company only really started to sell in 2012. Taser's subscription-based Evidence.com, which typically runs on five-year contracts, helps police departments manage video and other evidence.
The company recently acquired artificial intelligence start-up Dextro in order to help police search and redact footage. Taser also hopes to build an Artificial Intelligence division.
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Stocks in today's headlines may be tempting buys, but how would you like to peek behind the curtain to see all the best stocks Zacks' team of experts are recommending? Starting today, for the next month, you can follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF and options moves...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). Click here for all Zacks trades >>