10 Tech News Updates Investors Should Not Miss

4. Axon Enterprise, Inc. (NASDAQ:AXON)

Number of Hedge Fund Holders: 64

Axon Enterprise, Inc. (NASDAQ:AXON) develops technology and weapons products for military, law enforcement and civilians. On March 5th, the company announced an offering of $1.5 billion in senior notes due 2030 and 2033, which will be utilized to support growth and investments in new products, services and technologies.

The company has set an ambitious target to decrease gun-related deaths between police and public to 50% by 2033 through its portfolio of Taser devices, body cameras, in-car cameras, cloud-based evidence management and real-time operations software.

This is backed by strong fourth quarter results, where it booked a 34% year-over-year increase in revenue with a non-GAAP EPS of $2.08, beating consensus estimates of $1.43. The Taser segment is thriving, with the company shipping more than 200,000 devices.

However, escalating costs and expenses could be an issue for the company with cost of sales surging 39% year over year in 2024. Increased operating expenses have impacted the company’s margins.