How a Pivot to AI Helped Axon Enterprise Stock Climb 144% in a Year

Key Takeaways

• Axon Enterprise stock has more than doubled in value in the past year.
• Originally known for law enforcement equipment, Axon is increasingly prominent as a software and AI company.
• The popularity of Axon’s AI tools has helped drive significant sales growth.

Axon Enterprise has been one of the standout stocks of the past year, with the company’s share price more than doubling in the past year.

Originally known for its police-issue tasers, in recent years Axon has expanded into software for law enforcement, including a range of AI tools that have driven massive commercial growth for the company.

From Tasers to Software

Founded in 1993, Axon Enterprise initially focused on tasers, before branching out into body cameras and other equipment used by law enforcement.

In 2009, the company launched Axon Evidence (formerly Evidence.com), a cloud-based evidence management system that allows law enforcement agencies to manage, review and share footage captured with Axon-branded cameras.

The move into digital services proved to be a good strategy for Axon, which has since developed a suite of software solutions that help agencies manage data, streamline workflows and enhance operations.

In 2019, the company launched its first AI product, Redaction Assistant, which uses computer vision to detect and redact faces and number plates from bodycam and dashcam footage.

Since then, Axon has doubled down on the technology, developing new AI solutions for law enforcement that range from automatic drone trackers to report-writing assistants.

Riding the AI Wave

In hindsight, Redaction Assistant was ahead of its time. But as it has elsewhere, AI adoption in law enforcement has surged in the past two years, a trend that has played into Axon’s hand.

While it mostly caters to local, state and federal law enforcement agencies, Axon is also expanding its reach into foreign markets, announcing a major contract to supply the Royal Canadian Mounted Police with bodycams and associated digital solutions, last November.

Investors Take Note

Investors have taken note of the bullish growth, boosting Axon’s share price by more than 144%, in the past year. Since the beginning of 2025, Axon stock is up nearly 17%.

Now, as the company prepares to expand into new markets and continue to roll out new products, some analysts are forecasting even more growth.

In a recent note to investors, Baird senior analyst Will Power highlighted Axon’s “much better-than-average growth” and “continued strong operating momentum.” This and the company’s “AI narrative tailwinds” made the stock one of his top picks.