Drone Deal Boosts Axon Earnings Beyond Expectations, Yet AXON Stock Drops: Unraveling the Paradox
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- Axon (AXON) surpassed first-quarter earnings estimates and announced an acquisition of Dedrone, a leader in “airspace security”.
- The company’s stock remained near a buy point despite a slight dip early Tuesday.
- Axon’s sales pipeline is described as “the strongest and healthiest it has ever been across all major customer segments.”
Axon (AXON) beats Q1 earnings estimates and acquires Dedrone, expanding its target markets. Despite a slight dip, the stock remains near a buy point.
Axon Acquires Dedrone
Axon, known for its Taser stun-gun and body camera, has continually expanded its target markets. The company took another step with the acquisition of Dedrone, a leader in airspace security. The terms of the deal were not disclosed. CEO Rick Smith stated that the acquisition will help create a more advanced end-to-end drone solution. The company sees the Dedrone deal expanding its potential market opportunity by $14 billion to $77 billion.
