Axon Enterprise shares falter as huge number of Taser orders have problems

Posted at 8:24 AM, Aug 12, 2019
and last updated 2019-08-12 11:24:46-04

Shares of Axon Enterprise Inc., the Scottsdale body camera and Taser manufacturer, dropped sharply Friday when it reported $6 million in orders for its Taser 7 product were not met during the second quarter.

Axon had a supply disruption when its battery component supplier for the new Taser 7 “was unable to meet” Axon’s “stringent quality standards as it scaled,” Axon CEO Rick Smith said.

“We since worked closely with the supplier to help them scale, and it is now producing at production volumes,” Smith said in a call with analysts on Aug. 8.

“Unfortunately, as a result, about $3 million worth of forecasted Taser 7 sales shifted from Q2 into Q3 2019.”

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