Axon Enterprise (AXON) in Infuse Partners 2023 Q1

Innovative Public Safety Solutions with Strong Market Position

Jul 01, 2025

Summary

Founded by visionary Rick Smith, maintaining strong leadership.
Dominant player in public safety technology with a strong brand.
Expanding product offerings, including body-worn cameras and cloud-based evidence management.
Significant recurring revenue from Evidence.com and other software solutions.
Strong financial position with $550 million in net cash and $180 million in free cash flow.

In Infuse Partners' Q1 2023 letter, Axon Enterprise (AXON, Financial) was highlighted as a key portfolio holding due to its innovative approach to public safety technology and its strong market position. The fund, managed by Ryan Reeves, emphasized Axon's commitment to reducing police-related deaths and its diversified product offerings, which include Tasers, body-worn cameras, and cloud-based evidence management systems.

"Axon is a perfect example of a company with the qualitative characteristics that I look for. A dominant position in a large market, incredible economics, a founder at the helm, a good chunk of recurring revenue, a strong and growing competitive advantage, and a strong preference to internally innovate." — Ryan Reeves, Infuse Partners, Q1 2023 Fund Letter

Read full letter at gurufocus Infuse Partners 2023 Q1 page.

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