Axon Enterprise (AXON -2.81%) is best known for developing software and technology for law enforcement. But their consumer market may end up surpassing their law enforcement market.
In this "Industry Focus" video, recorded on Dec. 1, Motley Fool Analyst Emily Flippen and Fool.com Contributor Brian Stoffel discuss why investors shouldn't worry about Axon's market expansions.
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Emily Flippen: The reason why I think that when you talk about the consumer market investors like myself shouldn't get too hung up on the idea of tasers as part of that, is because as Smith did say that they believe the consumer market will be bigger than the law enforcement market. The only way that comes to fruition is if you're offering a product that is much bigger than just a one-time sale of stun gun or of a body camera.
We're talking about software for the masses, useful to everyone regardless of whether or not they want to carry a firearm, regardless of whether or not they want to carry pepper spray or even in some cases, I suppose a taser.
For that reason, I think that there are wheels turning here behind the scenes for management, thinking about "How can we use this technology that we still have effectively dispatched for government agencies and the private market for consumers?"
I don't know what it looks like. If I had to guess, I think this is also something alongside their dispatch and records management that is three to five years out at the earliest.
But I like the fact that management is thinking about this optionality, and I'll be super happy if I'm proven wrong on that.
Brian Stoffel: Absolutely. I'm very curious to continue owning and following the stock. Also, I'm very interested to see what the software solution looks like.