This Companys Cloud Offering Should Put It on Your Radar
Summary
Despite seeing its stock rise over 4,000% in the last decade, Axon Enterprise still has a lot to offer investors with its growing subscription bundles and fascinating growth optionality. Despite having many product-based offerings, including tasers, body cameras, and even drones, Axon is quickly becoming a SaaS success story, with 73% of its 2020 revenue coming from recurring bundles. Generally speaking, net dollar retention compares a SaaS companys churn, or loss of customers, versus its upsell, upgraded or additional products. Naturally, a figure above 100% implies business expansion, so Axons rate of 119% highlights minimal customer churn and successful service upselling so far. Overall, I believe Axon Clouds offerings are essential to most customers, as they want full functionality from its products, enabling the company to sign agencies up for mutually beneficial five and 10-year subscription bundles.