Axon Enterprise Thesis

Axon has created a powerful ecosystem for law enforcement with its TASER devices, body cameras, and Evidence.com cloud platform. This creates a strong moat with high switching costs and network effects. The growth driver is the expansion into new areas of public safety and enterprise, such as fire departments and emergency medical services, and the increasing adoption of its high-margin cloud software. The investment thesis is based on the continued digitization of public safety and Axon's dominant position in this mission-critical market.