Axon Enterprise Inc (AXON) 2023 Q1 法說會逐字稿

Hello, everyone. Welcome to our first quarter 2023 earnings call. We hope you have had a chance to read our shareholder letter, which you can find at investor.axon.com. Our prepared remarks today are meant to build upon the already robust information you find in that letter. During this call, we will discuss our business outlook, and make forward-looking statements. .

大家好。歡迎來到我們 2023 年第一季度的財報電話會議。我們希望您有機會閱讀我們的股東信，您可以在 investor.axon.com 上找到這封信。我們今天準備好的評論旨在建立在您在那封信中已經找到的可靠信息的基礎上。在這次電話會議中，我們將討論我們的業務前景，並做出前瞻性陳述。 .

Any forward-looking statements made today are pursuant to and within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These comments are based on our predictions and expectations as of today and are not guarantees of future performance. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and we discuss these risks in our SEC filings.

今天所做的任何前瞻性陳述均符合 1995 年《私人證券訴訟改革法案》的安全港條款，並符合其含義。這些評論基於我們截至今日的預測和預期，並非對未來業績的保證。所有前瞻性陳述均受風險和不確定因素的影響，這些風險和不確定因素可能導致實際結果出現重大差異，我們在 SEC 文件中討論了這些風險。

And before we turn the call over to Rick, we will play our quarterly update ideas about a 5-minute video today.

在我們將電話轉給 Rick 之前，我們將播放關於今天 5 分鐘視頻的季度更新想法。

(presentation)

（推介會）

All right. Thank you, and great job, Andrea and Angel. Hello, and welcome to our shareholders. We feel great that 2023 is off to a fantastic start. After announcing our moonshot goal last year to produce gun related deaths between police and the public by 50% over the next 10 years.

好的。謝謝你們，幹得好，Andrea 和 Angel。您好，歡迎來到我們的股東。我們很高興 2023 年有了一個美妙的開始。在去年宣布了我們的登月目標後，即在未來 10 年內將警察和公眾之間與槍支相關的死亡人數減少 50%。

We brought to market 2 major product releases that can serve as the workhorses to help get us there. When we talk about our moonshot goal to cut gun deaths, TASER 10 is our Saturn 5 rocket. And Axon Body 4 is mission control. Customer reception to TASER 10 has been great. We began shipping in March and many customers have called the product a true game changer. For those of you who are new to our business, new TASER devices take a few quarters to ramp in terms of sales as our customers need to trial and get trained before they can go into full deployment. Next, as you saw in the video, as Axon Accelerate last month, we announced Axon Body 4. Four years ago on our earnings call, I told you about our vision for the future of body cameras and public safety. And once our cameras can talk over wireless networks, they've become something more like an Alexa on your chest as opposed to just a camera you wear to record, and that would open up a whole host of really interesting services.

我們向市場推出了 2 個主要產品版本，它們可以作為主力幫助我們實現目標。當我們談論減少槍支死亡的登月目標時，TASER 10 就是我們的土星 5 號火箭。 Axon Body 4 是任務控制。 TASER 10 的客戶反響很好。我們於 3 月開始發貨，許多客戶稱該產品是真正的遊戲規則改變者。對於那些剛接觸我們業務的人來說，新的 TASER 設備需要幾個季度才能實現銷售增長，因為我們的客戶需要試用和接受培訓才能全面部署。接下來，正如您在視頻中看到的那樣，作為 Axon Accelerate 上個月，我們宣布了 Axon Body 4。四年前，在我們的財報電話會議上，我向您介紹了我們對隨身攝像頭和公共安全未來的願景。一旦我們的攝像頭可以通過無線網絡進行通信，它們就會變得更像是你胸前的 Alexa，而不僅僅是你戴在身上記錄的攝像頭，這將開啟一整套非常有趣的服務。

Well, now for the first time ever, officers and remote support teams can communicate with one another in real time with a 2-way device. We think this is going to provide an entirely new level of awareness and situational support, especially when officers are dealing with mental health crises or battling language barriers. Our customers are already thinking of new ways to apply this technology, and we can't wait to see what they'll do with it. Our vision for the future of public safety technology is coming together. When our new TASER and body cameras are paired with Axon respond, the full power of our real-time operational capabilities is unlocked.

好吧，現在有史以來第一次，官員和遠程支持團隊可以使用雙向設備實時相互通信。我們認為這將提供全新水平的意識和情境支持，尤其是當官員正在處理心理健康危機或與語言障礙作鬥爭時。我們的客戶已經在考慮應用這項技術的新方法，我們迫不及待地想看看他們會用它做什麼。我們對公共安全技術未來的願景正在融合。當我們的新 TASER 和隨身攝像頭與 Axon Response 配對時，我們實時操作能力的全部威力就會被釋放。

We can solve so many of the decision-making challenges public safety professionals space today. And I'm fortunate to be leading a company that has attracted the best talent across the globe to achieve what we set out to do. We believe people are inspired to do their best work when they are truly inspired to solve the problems that they care about. So we hire people who are passionate about our mission. And we saw big problems. We create value and everything else falls into place. Finally, I'd also like to take the opportunity to acknowledge Axon's inclusion in the S&P 500 as of May 4, a testament to Axon's stable business model, our growth mission and our global impact. Thank you to our customers, partners and employees for making this positive. We founded Axon 30 years ago in the Tucson garage, and it has been a remarkable journey and our best days are yet to come.

我們可以解決當今公共安全專業人員面臨的許多決策挑戰。我很幸運能夠領導一家吸引全球最優秀人才的公司來實現我們的目標。我們相信，當人們真正受到鼓舞去解決他們關心的問題時，他們就會受到鼓舞，努力做到最好。因此，我們聘請對我們的使命充滿熱情的人。我們看到了大問題。我們創造價值，其他一切都水到渠成。最後，我還想藉此機會感謝 Axon 於 5 月 4 日被納入標準普爾 500 指數，這證明了 Axon 穩定的商業模式、我們的增長使命和我們的全球影響力。感謝我們的客戶、合作夥伴和員工讓這一切變得積極。 30 年前，我們在圖森車庫創立了 Axon，這是一段非凡的旅程，我們最好的日子還在後頭。

And so with that, I'd like to turn over to our Chief Operating Officer, Josh Isner.

因此，我想轉交給我們的首席運營官 Josh Isner。

Thanks a lot, Rick. Enthusiasm from our customers has been infectious. What really moves me is when our customers see our passion and they become a part of it. Our annual Accelerate conference this year was the biggest and best we ever hosted. When customers tell me that we are motivating them and changing the way they approach their jobs for the better, I know we are doing our job. We see a strong and growing demand pipeline for 2023 and beyond, and we remain focused on doing our best work. In February, I spoke about 4 areas of focus for 2023, and I'm pleased to report we are executing well on each of these objectives. Our #1 operational focus is revenue. Top line growth remains a priority. We grow our business so that we can invest and deliver more value to the market. Our investments are paying off.

非常感謝，里克。我們客戶的熱情具有感染力。真正讓我感動的是，當我們的客戶看到我們的熱情並成為其中的一部分時。我們今年的年度 Accelerate 會議是我們舉辦過的規模最大、效果最好的會議。當客戶告訴我我們正在激勵他們並改變他們更好地完成工作的方式時，我知道我們正在做我們的工作。我們看到 2023 年及以後的需求渠道強勁且不斷增長，我們將繼續專注於盡力而為。 2 月，我談到了 2023 年的 4 個重點領域，我很高興地報告，我們在每個目標上都執行得很好。我們的第一運營重點是收入。收入增長仍然是一個優先事項。我們發展業務，以便我們可以投資並為市場創造更多價值。我們的投資正在取得回報。

We grew the top line 34% year-over-year in Q1, achieving a record quarterly revenue for the company. Our cloud business grew 51% year-over-year, and it's remarkable to reflect that just a few years ago, cloud applications were nearly unheard of in public safety. We've been proud to evangelize public safety cloud adoption in the U.S., and we will continue to do so globally. Our Taser weapons business grew 17% year-over-year, and most of that was tied to continuing strong demand of our TASER 7 platform. We are only in the early stages of shipping our newest product, TASER 10, which is seeing the strongest initial demand of any TASER weapon in the history of the economy.

我們在第一季度的收入同比增長了 34%，為公司創造了創紀錄的季度收入。我們的雲業務同比增長 51%，值得注意的是，就在幾年前，雲應用在公共安全領域幾乎聞所未聞。我們很自豪能夠在美國宣傳公共安全雲的採用，我們將繼續在全球範圍內這樣做。我們的 Taser 武器業務同比增長 17%，其中大部分與我們的 TASER 7 平台的持續強勁需求有關。我們的最新產品 TASER 10 剛剛開始發貨，這是經濟史上對任何 TASER 武器最強勁的初始需求。

I have seen several TASER product launches at Axon and customer enthusiasm for TASER 10 trumps any previous model. Our second operational focus is profitability, which we measure by adjusted EBITDA margin. Brittany will take you through the details in a minute, but at a high level, I'm pleased with our performance in Q1.

我在 Axon 看到了好幾款 TASER 產品的發布，客戶對 TASER 10 的熱情超過了之前的任何型號。我們的第二個運營重點是盈利能力，我們通過調整後的 EBITDA 利潤率來衡量。 Brittany 將在一分鐘內向您介紹詳細信息，但在較高的層面上，我對我們在第一季度的表現感到滿意。

Number three, new market expansion. In the first quarter, our international booking grew double digits, driven by nearly 100% year-over-year bookings growth in Europe. And we also saw triple-digit bookings growth in our Justice segment, an emerging market for us. We've invested heavily in our sales force and continue to support new capabilities in these new markets, and we're seeing leverage from these investments. Finally, number four, new product adoption. We are tirelessly investing to ensure that the products we build continue to be adopted by our customers. We saw double-digit bookings growth in a number of our emerging product categories, including ALPR, air and virtual reality. The foundation underpinning all of these priorities is our ability to attract and then retain world-class talent. We cannot accomplish any of this without the help of a team who brings financial discipline, a next play mindset and the skill sets to launch us through the stratosphere of our moonshot journey. We enjoy high employee retention rates, which outperformed tech averages, and this is a testament to our mission and our ability to focus on solving real problems.

第三，新市場拓展。在第一季度，我們的國際預訂量增長了兩位數，這主要得益於歐洲近 100% 的同比預訂量增長。我們還看到司法部門的預訂量增長了三位數，這對我們來說是一個新興市場。我們對我們的銷售隊伍進行了大量投資，並繼續支持這些新市場的新功能，我們看到了這些投資的影響力。最後，第四，新產品的採用。我們孜孜不倦地投資，以確保我們製造的產品繼續被我們的客戶採用。我們在許多新興產品類別中看到了兩位數的預訂量增長，包括 ALPR、航空和虛擬現實。支撐所有這些優先事項的基礎是我們吸引並留住世界一流人才的能力。如果沒有團隊的幫助，我們無法完成這一切，團隊帶來了財務紀律、下一個遊戲的心態和技能組合，讓我們通過我們的登月之旅的平流層。我們的員工保留率很高，高於技術平均水平，這證明了我們的使命和我們專注於解決實際問題的能力。

In sum, we executed strongly in Q1, have launched into 2 new products. Our pipeline is solid, and we have line of sight to a very strong back half. I'm proud of our team for driving such a strong start to the year, but I'm even more proud that they have quickly turned the page and are focused on sustaining the momentum in Q2 and beyond.

總之，我們在第一季度表現強勁，推出了 2 款新產品。我們的管道很穩固，我們可以看到非常強大的後半部分。我為我們的團隊在今年取得如此強勁的開局感到自豪，但我更自豪的是他們迅速翻開了新的一頁，並專注於維持第二季度及以後的勢頭。

And with that, I'll turn it over to Brittany to take us through our financials in more detail. Thanks a lot.

有了這個，我會把它交給布列塔尼，讓我們更詳細地了解我們的財務狀況。多謝。

Thank you, Josh. We are pleased to report another strong quarter, reflecting broad-based strength across our business. Our top line growth of almost 34% year-over-year supported by 51% growth in our cloud business continues to demonstrate the value of our offering. Given Q1 performance, we are confident in our outlook and raising our revenue growth rate from 20% to 22% for the year. On gross margin, we had some sequential headwinds in Q1 coming from revenue mix as we grew Axon Fleet sales and the professional services associated with those and did repeat the gross margin benefit of catch-up software revenue that we saw in Q4 of '22.

謝謝你，喬希。我們很高興地報告另一個強勁的季度，反映了我們業務的廣泛實力。在我們的雲業務增長 51% 的支持下，我們的收入同比增長近 34%，繼續證明我們產品的價值。鑑於第一季度的表現，我們對我們的前景充滿信心，並將今年的收入增長率從 20% 提高到 22%。在毛利率方面，隨著我們增加 Axon Fleet 銷售和與之相關的專業服務，我們在第一季度遇到了一些來自收入組合的不利因素，並且確實重複了我們在 22 年第四季度看到的追趕軟件收入的毛利率優勢。

Gross margin also reflects an impact of onetime items related to inventory and other cost adjustments. Over the remaining quarters of '23, we expect fleet demand to remain strong. And as a result, we would expect gross margins to remain approximately flat or improve only modestly from Q1 level. To double-click on the impact of fleet, demand for Fleet 3 has consistently exceeded our expectations since we began shipping in 2021. Our fleet business carries a lower margin upfront and transitions to high-margin recurring software revenue over time. In the first quarter, for example, fleet revenue grew 139% year-over-year. Fulfilling this demand solidifies our market leadership and sets us up for long-term success. When our customers buy more of our hardware, they are also investing in our broader ecosystem of high-margin software offering.

毛利率還反映了與庫存和其他成本調整相關的一次性項目的影響。在 23 年的剩餘季度中，我們預計機隊需求將保持強勁。因此，我們預計毛利率將與第一季度水平基本持平或僅略有提高。雙擊車隊的影響，自我們 2021 年開始發貨以來，對 Fleet 3 的需求一直超出我們的預期。我們的車隊業務的前期利潤率較低，並隨著時間的推移過渡到高利潤率的經常性軟件收入。例如，第一季度，車隊收入同比增長 139%。滿足這一需求鞏固了我們的市場領導地位，並為我們的長期成功奠定了基礎。當我們的客戶購買更多我們的硬件時，他們也在投資我們更廣泛的高利潤軟件產品生態系統。

We also continue to invest in automation and improving our manufacturing efficiency, and we're pleased to see the supply chain stabilizing in 2023 as expected. Over time, these efforts along with ongoing growth in our high-margin software business should continue to benefit gross margins. Regarding operating expenses, R&D investment remains a priority to support our long-term revenue growth. We continue to digest SG&A investments we made over the past year and are balancing OpEx discipline with the investments needed to scale our business to $2 billion in revenue and beyond. As we had anticipated, travel expenses have also increased as everyone returns to in-person meetings and events.

我們還繼續投資於自動化並提高我們的製造效率，我們很高興看到供應鏈在 2023 年如期穩定。隨著時間的推移，這些努力以及我們高利潤軟件業務的持續增長應該會繼續有利於毛利率。關於運營費用，研發投資仍然是支持我們長期收入增長的優先事項。我們繼續消化我們在過去一年中進行的 SG&A 投資，並平衡 OpEx 紀律與將我們的業務擴展到 20 億美元及以上收入所需的投資。正如我們所預料的那樣，隨著每個人都返回參加面對面的會議和活動，差旅費用也有所增加。

I am pleased to upwardly revise our outlook. We are increasing our full year revenue range of $1.44 billion to $1.46 billion, representing 22% year-over-year revenue growth at the midpoint. We continue to target full year adjusted EBITDA margins of 20%, implying a range of $288 million to $292 million. We remain focused on delivering on both our near-term and long-term financial commitments. In addition to the above, these include free cash flow, moving towards long-term sustainable equity dilution, responsible management of our balance sheet and continuing to support our partner ecosystem. All of these are in great shape exiting Q1.

我很高興向上修正我們的前景。我們將全年收入範圍從 14.4 億美元增加到 14.6 億美元，中點收入同比增長 22%。我們繼續將全年調整後的 EBITDA 利潤率定為 20%，這意味著在 2.88 億美元至 2.92 億美元之間。我們仍然專注於履行我們的近期和長期財務承諾。除上述內容外，這些還包括自由現金流、轉向長期可持續的股權稀釋、對我們的資產負債表進行負責任的管理以及繼續支持我們的合作夥伴生態系統。所有這些都在退出 Q1 時處於良好狀態。

Longer term, we continue to focus on delivering on our top line growth while expanding our gross margins leveraging our OpEx and increasing our adjusted EBITDA as we work towards our 2025 target of 25% adjusted EBITDA margin. Great new products, including TASER 10, Axon Body 4, fleet and our software will all continue to support this outlook. I look forward to updating you further on our continued progress next quarter.

從長遠來看，我們將繼續專注於實現我們的收入增長，同時利用我們的運營支出擴大我們的毛利率並增加我們調整後的 EBITDA，因為我們正在努力實現 2025 年 25% 的調整後 EBITDA 利潤率目標。偉大的新產品，包括 TASER 10、Axon Body 4、fleet 和我們的軟件都將繼續支持這一前景。我期待著在下個季度進一步向您介紹我們的持續進展。

And with that, I would like to open it up to questions.

有了這個，我想打開它來提問。

(Operator Instructions) We'll take our first question from Tim Long at Barclays.

（操作員說明）我們將從巴克萊銀行的 Tim Long 那裡回答我們的第一個問題。

I was hoping I could sneak 2 in here. First, on the full year outlook, if you could just talk a little bit, obviously, growth in Q1 was pretty strong so implying a little bit of a decel in the second half of the year, I guess, towards the end, the compares get tougher. But can you just talk a little bit about the rest of the outlook and why -- what's built into a little bit more conservative growth than we saw in Q1?

我希望我能偷偷 2 在這裡。首先，關於全年展望，如果你能談談，顯然，第一季度的增長非常強勁，所以我想下半年的增長會有所放緩，到年底，比較變得更加強硬。但是你能談談其餘的前景以及為什麼 - 比我們在第一季度看到的更保守的增長是什麼？

And then second, if you could just touch on kind of the new products coming out. Obviously, it sounds like a lot of demand. How does that fit into those that have subscriptions if someone's not on a subscription, they want to upgrade or accelerated and upgrade. Can you just talk about how you could see a benefit from these new products even if people are tied into a medium to longer-term subscription deal.

其次，如果你能談談即將推出的新產品的種類。顯然，這聽起來像是很多需求。如果有人沒有訂閱，他們想要升級或加速和升級，這如何適合那些有訂閱的人。你能不能談談你如何從這些新產品中獲益，即使人們被捆綁在中長期訂閱交易中。

Maybe I'll take guidance and then turn customers over to Josh. Okay. So as we look at our guidance for the full year, obviously, we're really pleased with our strong Q1 performance. Part of what goes along with introducing new products, though, like TASER 10 and near term for Axon Body 4 as there is a transition period as our customers transition to those new products and are buying less of our existing older products.

也許我會接受指導，然後將客戶轉交給 Josh。好的。因此，當我們審視全年的指引時，顯然，我們對第一季度的強勁表現感到非常滿意。不過，隨著新產品的推出，如 TASER 10 和 Axon Body 4 的近期推出，部分原因是我們的客戶過渡到這些新產品並減少購買我們現有的舊產品，因此存在過渡期。

So as we look at our guidance, we're baking that transition into our guidance we're also baking in the fact that we had a really strong back half of last year, and so the comps get more difficult as we look at the second half.

因此，當我們查看我們的指導時，我們正在將這種轉變融入我們的指導中，我們也在考慮去年我們的後半段表現非常強勁，因此當我們看第二個時，比賽變得更加困難一半。

Yes, absolutely. And just to add to that, we never want to get out over our skis on guidance. I think certainly, there are paths to outperforming guidance. And like we're working towards those. But until we see that actually materialize in the pipeline and a way we can feel a lot of confidence in, it's important to be measured as to how we look at the data we have today. And so certainly, the focus is delivering as good of a year revenue-wise as we can, and we feel confident that we have the team to do that.

是的，一點沒錯。更重要的是，我們永遠不想在指導下走出滑雪板。我認為當然有超越指導的途徑。就像我們正在努力實現這些一樣。但是，在我們看到它真正在管道中實現並且我們可以對此充滿信心之前，重要的是要衡量我們如何看待我們今天擁有的數據。因此，當然，我們的重點是盡我們所能實現一年的收入，我們相信我們有團隊可以做到這一點。

And on top of that, in terms of how we build in new products into our bundles and offerings. I think those are actually the opportune times to rewrite a lot of contracts. And so whenever there's a new product that comes out either a flagship product like a TASER, new TASER CW or a new body camera or something like a new software offering that gives us the opportunity to go back to those customers and demo those products and as customers kind of value them, they start asking questions about, hey, how do we build this into our contract and that leads to conversations about upgrading the bundle or adding on to the bundle. So those are great opportunities for our sales team to rewrite these contracts for the longer term. So that's how we look at kind of new product introduction into the sales processes.

最重要的是，就我們如何將新產品構建到我們的捆綁和產品中而言。我認為那些實際上是重寫大量合同的最佳時機。因此，每當有新產品出現時，無論是旗艦產品，如 TASER、新 TASER CW 或新隨身相機，還是類似新軟件產品的產品，都讓我們有機會回到這些客戶那裡並演示這些產品，並且作為客戶有點重視他們，他們開始問問題，嘿，我們如何將其構建到我們的合同中，這導致了關於升級捆綁包或添加到捆綁包的對話。因此，對於我們的銷售團隊來說，這是長期重寫這些合同的絕佳機會。這就是我們如何看待將新產品引入銷售流程的方式。

We'll go next to Keith Housum at Northcoast.

我們將去 Northcoast 的 Keith Housum 旁邊。

Keith is in a public space doing our earnings call. So maybe we'll come back to Keith. Okay. We'll go to Sami Badri from Credit Suisse.

基思正在公共場所做我們的財報電話會議。所以也許我們會回到基思。好的。我們將去瑞士信貸的 Sami Badri。

I had first a tricky question and then maybe some less tricky questions. So first one, maybe to Rick. One thing that has been really clear is, as a company, you've released many products at various price points, many software capabilities and you're introducing virtual reality training and software. The kind of the big question is how are police departments making space for all these budget line items that they are now having to pay for? And maybe the justification could be very straightforward, but perhaps you could explain to us maybe how your customers are building this into their budgets? Is it taking away from other categories? Is it replacing some things? What have been the conversations in the field and the way that they're actually justifying this. And then I have a follow-up.

我首先遇到了一個棘手的問題，然後可能遇到了一些不太棘手的問題。所以第一個，也許是給瑞克的。一件非常清楚的事情是，作為一家公司，你已經發布了許多不同價位的產品、許多軟件功能，並且你正在引入虛擬現實培訓和軟件。最大的問題是警察部門如何為他們現在必須支付的所有這些預算項目騰出空間？也許理由可能非常簡單，但也許您可以向我們解釋一下您的客戶如何將其納入他們的預算？它是從其他類別中拿走的嗎？是不是要代替一些東西？該領域的對話以及他們實際證明這一點的方式是什麼。然後我有一個後續行動。

Yes. Great. So all these new services is we look at developing them upfront. We first asked ourselves is this solving a valuable problem that our customers will see great value in. And then we also look at, okay, where will the funding for these come from? So you mentioned VR. So that's a great example. Especially with our international customers, we've been looking at this very closely where the training costs associated with the TASER rollout can actually be several times greater than the cost of all the hardware in terms of logistics of bringing officers in, backfilling when they're off the street, all the time and effort that goes into it. And with VR, we're going to be able to dramatically streamline the training of officers by creating virtual training spaces, where a lot of it could happen without direct even human oversight from an instructor as they're learning the base its skills. We need a lot of repetition in.

是的。偉大的。因此，我們著眼於預先開發所有這些新服務。我們首先問自己，這是否解決了一個有價值的問題，我們的客戶會從中看到巨大的價值。然後我們也會看看，好吧，這些資金將從何而來？所以你提到了虛擬現實。所以這是一個很好的例子。特別是對於我們的國際客戶，我們一直在密切關注與 TASER 部署相關的培訓成本實際上可能比所有硬件成本高幾倍遠離街道，投入所有的時間和精力。借助 VR，我們將能夠通過創建虛擬培訓空間來顯著簡化軍官的培訓，其中很多培訓都可以在沒有教練直接監督的情況下進行，甚至是在他們學習基礎技能的情況下。我們需要大量的重複。

So for example, right now, agencies may fire somewhere between 6 and a maximum of maybe 18 cartridges per year. We compare that to the thousands of bullets that they hire. But with RVR, they can fire unlimited numbers of rounds. So our anticipation is by next year, every office are going through TASER certification training, will fire over 100 cartridges in VR, really building all the muscle memory and the skill and we'll be able to do it in a much more time-efficient way, and we can distribute that training. So for example, a lot of this training, including better recurrent training can happen out at the precinct level or the station level rather than having to bring officers into centralized training locations. If I look at some of the things we're doing around, for example, some of our AI services around transcription, for example, many of our customers, for example, in Canada, have to provide transcripts of every piece of evidence that is submitted, particularly in murder cases and I believe in other high-level felony type cases. So our ability to provide a machine transcript that's linked in with the video greatly reduces the amount of time. And we think over time, we'll be able to get to a point where there will be no need for human intervention. So everything that we're doing is designed to create value that will find a place somewhere where we're displacing inefficiency in the current budget or in some cases, competing products like what we did with our ALPR service, that historically, agencies might pay $18,000 to $20,000 per vehicle to put a bespoke ALPR dedicated hardware camera system. We've turned that into a virtualized service offering, which just sits as a layer on top of our existing in-car camera.

因此，例如，現在，機構每年可能會發射 6 到最多 18 個彈藥筒。我們將其與他們僱用的數千顆子彈進行比較。但是有了 RVR，他們可以發射無限數量的子彈。所以我們預計到明年，每個辦公室都將接受 TASER 認證培訓，將在 VR 中發射 100 多個彈藥筒，真正建立所有的肌肉記憶和技能，我們將能夠以更省時的方式完成方式，我們可以分發該培訓。因此，例如，很多此類培訓，包括更好的複訓，可以在轄區級別或車站級別進行，而不必將官員帶到集中培訓地點。如果我看看我們正在做的一些事情，例如，我們的一些圍繞轉錄的人工智能服務，例如，我們的許多客戶，例如在加拿大，必須提供每一個證據的轉錄本提交，特別是在謀殺案中，我相信其他高級重罪類型的案件。因此，我們提供與視頻鏈接的機器轉錄本的能力大大減少了時間。我們認為，隨著時間的推移，我們將能夠達到不需要人為乾預的地步。因此，我們所做的一切都是為了創造價值，這些價值將在我們正在取代當前預算中效率低下的某個地方找到一個地方，或者在某些情況下，競爭產品，比如我們對 ALPR 服務所做的，從歷史上看，機構可能會支付每輛車需要 18,000 到 20,000 美元才能安裝定制的 ALPR 專用硬件攝像頭系統。我們已將其轉變為虛擬化服務產品，它只是作為我們現有車載攝像頭之上的一層。

So our in-car camera is cost competitive, all on its own and provides really great value. And now they can choose to turn on ALPR just as a software service layer running on top. So I hope that's helpful. Just in general, as we're looking at all of these we both make sure we're solving problems that are valuable to solve and that there's a path for the budget to either come from increased efficiency, reduce costs or displacing some existing competitors.

因此，我們的車載攝像頭本身就具有成本競爭力，並提供了非常大的價值。現在他們可以選擇打開 ALPR，就像在上面運行的軟件服務層一樣。所以我希望這會有所幫助。總的來說，當我們審視所有這些時，我們都確保我們正在解決有價值的問題，並且預算有一條途徑來自提高效率、降低成本或取代一些現有競爭對手。

Got it. And then for a follow-up, it's for Josh. You talked about international bookings really ramping up and I was hoping you can kind of give us a bit more color and context in terms of what your international customers are buying? Are they buying fleet TASERS, body cameras? And how are they consuming everything? Are they assuming it within a bundle, or are they consuming it all kind of a la carte one by one product by product?

知道了。然後對於後續行動，它是給喬希的。你談到國際預訂量真的在增加，我希望你能就你的國際客戶購買的商品給我們更多的顏色和背景？他們在購買艦隊 TASERS 和隨身攝像機嗎？他們如何消費一切？他們是把它打包在一起，還是一個一個地消費它？

Yes. Thanks for the question, Sami. I think our strategy is really unchanged. It's one of landing and expanding. So we're -- there are some customers that start on the body cam side, and they say, "Hey, this is the #1 problem we're looking to solve right now. Then over time, our job is to make them really successful in their first deployment, and then evangelize our other products to in tandem with the body camera. And in a lot of cases, probably more commonly in international start on the TASER side and build a lot of trust and drive great results and then have kind of earned the right to sell other products in our product portfolio in.

是的。謝謝你的問題，薩米。我認為我們的戰略確實沒有改變。這是登陸和擴展之一。所以我們 - 有一些客戶從車身凸輪側開始，他們說，“嘿，這是我們現在要解決的頭號問題。然後隨著時間的推移，我們的工作就是製造它們他們的第一次部署真的很成功，然後宣傳我們的其他產品與隨身相機一起使用。在很多情況下，在國際上可能更常見的是從 TASER 方面開始，建立很多信任並取得很好的結果，然後已經獲得了在我們的產品組合中銷售其他產品的權利。

And so I think it's a healthy mix of those things. It usually starts with one of those 2 core products. And I think what you're seeing is some early signs that customers are getting a little more open to cloud internationally, which is exciting, but that will be a long-term process to move kind of major federal governments of these international customers over to cloud. And we're seeing more openness to deploy our next-generation TASER devices as well. So team is doing a great job executing, certainly playing the long game internationally, and there'll be some some really exciting quarters where we have double-digit or triple-digit bookings growth, and then there'll be others that are kind of more par for the course along the way. But when we add them all up at the end of the year, we're really excited about the year-over-year growth that we'll see internationally.

所以我認為這是這些東西的健康組合。它通常從這兩個核心產品之一開始。而且我認為你看到的是一些早期跡象，表明客戶對國際雲的開放程度有所提高，這令人興奮，但這將是一個長期的過程，將這些國際客戶的主要聯邦政府轉移到雲。我們也看到了部署下一代 TASER 設備的更多開放性。所以團隊在執行方面做得很好，當然是在國際上進行長期比賽，並且會有一些非常令人興奮的季度，我們有兩位數或三位數的預訂增長，然後會有其他一些沿途的課程更多。但是當我們在年底將它們全部加起來時，我們對我們將在國際上看到的同比增長感到非常興奮。

Next up, Mike Ng from Goldman Sachs.

接下來是來自高盛的 Mike Ng。

It was encouraging to see the strong fleet sales in the quarter. And I have 2 questions there. First, is there a better way to understand the sharp inflection in those fleet sales despite the fact that Fleet 3 was launched 2 years ago, it'd be helpful to understand not only for fleet but also to potentially just better understand how purchase dynamics may impact how to think about BodyCam 4 and TASER 10. And I have a follow-up.

看到本季度強勁的機隊銷售令人鼓舞。我有兩個問題。首先，是否有更好的方法來理解這些機隊銷售的急劇變化，儘管事實上 Fleet 3 是在 2 年前推出的，這不僅有助於了解機隊，而且有可能更好地了解購買動態可能如何變化影響如何思考 BodyCam 4 和 TASER 10。我有後續行動。

Yes. Absolutely, Mike. Thank you very much for the question. We're excited about fleet, and we see -- we talk about this from time to time, but 5 or 6 years ago when we launched Fleet 1 might have even been a little longer back than that, is really a body camera attached to a windshield. And we learned a lot. We built Fleet 2, which got us to kind of parity in the market. And then fleet 3 was a product that kind of accelerated us into a market leadership. Our customers were in existing upgrade cycles with Fleet 2 that led to a slower ramp and then a steeper climb or a steeper adoption later. Then another one is just the supply chain environment we've been in the last -- been in the last few years. Fleet 3 is relying on third-party hardware. And the supply chain team at Axon has just done a fantastic job navigating the COVID supply chain challenges. But now we're seeing the supply chains opening up and we're able to deploy more at a faster clip to customers.

是的。當然，邁克。非常感謝你的提問。我們對艦隊感到興奮，我們看到 - 我們不時談論這個，但 5 或 6 年前，當我們推出艦隊 1 時甚至可能比那個時間長一點，實際上是一個隨身相機擋風玻璃我們學到了很多。我們建造了 Fleet 2，這讓我們在市場上處於同等地位。然後 fleet 3 是一種加速我們成為市場領導者的產品。我們的客戶處於現有的 Fleet 2 升級週期中，這導致了更慢的爬升，然後是更陡峭的爬升或後來更陡峭的採用。然後另一個就是我們過去幾年的供應鏈環境。 Fleet 3 依賴第三方硬件。 Axon 的供應鏈團隊剛剛在應對 COVID 供應鏈挑戰方面做得非常出色。但現在我們看到供應鏈正在開放，我們能夠以更快的速度向客戶部署更多產品。

So I think it's a healthy mix of those. Maybe a distant fourth would be when customers have to upgrade systems across hundreds of police cars that they use every day, just their requirements for how they do that over certain time frames, can be one that's a little back-end loaded as well for each of those deployments. So we manage things but we certainly think fleet will continue to scale throughout the next couple of years, and we're really proud of the team for delivering such an awesome product to our customers.

所以我認為這是一個健康的組合。也許遙遠的第四個是當客戶必須升級他們每天使用的數百輛警車的系統時，只是他們對他們在特定時間範圍內如何做到這一點的要求，可以是一個對每個警車都有一點後端加載的要求這些部署。所以我們管理事情，但我們當然認為車隊將在未來幾年繼續擴大規模，我們為團隊為我們的客戶提供如此出色的產品感到非常自豪。

Thank you for the very comprehensive answer. And then the follow-up would be, could you just talk about how to think about the translation between fleet sales into Axon cloud growth. Are there any lagged effects to the benefit to cloud or ways to think about how much of the fleet 3 sales are upgrades versus growth in the installed base does that even matter as we try to think about how that translates into Axon cloud.

感謝您提供非常全面的答案。然後是後續行動，你能否談談如何考慮車隊銷售與 Axon 雲增長之間的轉化。對雲的好處是否有任何滯後效應，或者考慮 fleet 3 銷售中有多少是升級與安裝基數的增長是否有任何滯後效應，這甚至很重要，因為我們試圖考慮如何將其轉化為 Axon 雲。

Yes, it's a great question. It's really just our hardware strategy paying off, right? Like we really believe that what we're building at Axon is a network of connected hardware devices, whether they're on the officer's body in the police car, on the officer's belt in the skies in the case of Axon Air and so forth. And so whenever we launch a very competitive hardware platform, the biggest value proposition of any one of those products is it connects to the rest of your evidence in ecosystem that you use day-to-day as a police officer or a police administrator. And so that's really the magic of Fleet 3 is it just -- it's one more thing that plugs into this network that you already use day-to-day. And it leads to a fantastic customer experience. I think this was very much an existing market that we entered into and had to compete against a lot of established incumbents and that took some time. But as we're really thrilled to be the market leader in this category, and now it's about distancing ourselves even more.

是的，這是一個很好的問題。這真的只是我們的硬件戰略得到回報，對吧？就像我們真的相信我們在 Axon 正在構建的是一個連接硬件設備的網絡，無論它們是在警車上的警官身體上，還是在 Axon Air 的情況下在空中警官的腰帶上等等。因此，每當我們推出一個非常有競爭力的硬件平台時，這些產品中的任何一個的最大價值主張都是它與您作為警察或警察行政人員日常使用的生態系統中的其他證據相關聯。所以這就是 Fleet 3 的真正魔力——它只是插入您已經日常使用的網絡的另一件事。它帶來了美妙的客戶體驗。我認為這在很大程度上是我們進入的一個現有市場，必須與許多老牌企業競爭，這需要一些時間。但由於我們真的很高興成為這一類別的市場領導者，現在我們要更加疏遠自己。

Mike, the only thing I add, Josh's answer was very comprehensive, but I think tactically a little bit what you're seeing this year is that we now have the supply of fleet that we need, and so we're able to start fulfilling some of that demand. The only thing that's really limiting us at this point is how fast we can actually get those cameras installed, which is why we called out the professional services component of just how fast can we get them out and installed at our customer. And then that's really what will trigger being able to turn on the higher-margin cloud revenue is getting the cameras installed and up running at the customer.

邁克，我唯一要補充的是，喬希的回答非常全面，但我認為從戰術上講，你今年看到的是我們現在擁有所需的艦隊供應，因此我們能夠開始履行一些需求。在這一點上，唯一真正限制我們的是我們實際安裝這些攝像頭的速度有多快，這就是為什麼我們需要專業服務組件來了解我們能夠多快將它們取出並安裝在我們的客戶身上。然後，真正能夠觸發利潤率更高的雲收入的真正原因是讓客戶安裝並運行攝像頭。

One last kind of thing to add there and ties back to what Rick was saying before. In addition to the price inversion that ALPR made for making this broad available versus the traditional peer expensive on a handful of cars thing. What this does, when a department adopts fleet 3 with ALPR and respond that turns every car all day every day into a cloud software use case. Where all day, every day, every car across their entire fleet and across their entire city, those vehicles and those cameras are being used as active sensors connected to cloud software to help power the results they're getting. So that further reinforces their connection to the value they're getting out of our overall ecosystem.

最後要添加的一件事與 Rick 之前所說的聯繫起來。除了 ALPR 為使這種廣泛可用與傳統同行在少數汽車上昂貴而進行的價格倒置之外。這是做什麼的，當一個部門採用帶 ALPR 的車隊 3 並做出響應，將每天全天的每輛車變成雲軟件用例。全天候，每一天，他們整個車隊和整個城市的每輛車，這些車輛和那些攝像頭都被用作連接到雲軟件的主動傳感器，以幫助他們獲得結果。因此，這進一步加強了他們與他們從我們的整體生態系統中獲得的價值的聯繫。

Josh Riley at Needham.

Needham 的 Josh Riley。

How should we think about the backlog for TASER 10 post Accelerate? I was able to speak with some customers there at the event who were thinking about buying the 7, but they were then evaluating whether to switch to the 10. Is that something that you are seeing coming out of the conference? And is there any implication for the model here for the balance of the year from that?

我們應該如何考慮 Accelerate 後 TASER 10 的積壓？我能夠在活動中與一些正在考慮購買 7 的客戶交談，但他們當時正在評估是否改用 10。你在會議中看到的是這種情況嗎？這對今年餘下的模型有什麼影響嗎？

Yes. Josh, as Rick said in his remarks, it does take a little time once we announce a TASER for trials and evaluations to take place. And so you see a little bit of a lag between the interest in the demand and the purchasing. But the good news for us is this is the seventh or eighth time we've been through this. We've worked through this. We understand what the puts and takes are.

是的。喬什，正如里克在他的發言中所說，一旦我們宣布泰瑟槍進行試驗和評估，確實需要一點時間。因此，您會發現需求興趣和購買興趣之間存在一點滯後。但對我們來說，好消息是這是我們第七次或第八次經歷這種情況。我們已經解決了這個問題。我們了解什麼是看跌期權和看跌期權。

We understand how to communicate with customers on this project plan and on how they evaluate and what the timing is. But I think in the back half of the year, you'll see a really striking kind of demand -- or I'm sorry, sales growth in TASER 10, and that will continue for the next several years. We feel fantastic about the product market fit. We feel fantastic about the customer reaction to the product. And now it's on us to just manage the upgrade site both from 7 to TASER 10, and we have a lot of confidence that we'll be able to do that very effectively.

我們了解如何就此項目計劃與客戶溝通，了解他們如何評估以及時間安排。但我認為在今年下半年，你會看到一種非常驚人的需求——或者對不起，TASER 10 的銷售增長，而且這種情況將持續幾年。我們對產品市場契合度感到非常滿意。我們對客戶對產品的反應感到非常滿意。現在我們只需管理從 7 到 TASER 10 的升級站點，我們非常有信心我們能夠非常有效地做到這一點。

Awesome. Great to hear. And then could we get an update on the Axon Records pipeline? And maybe highlight some -- what are some of the key product development priorities for records here near term? And then is there any profile in terms of customer size or any other characteristics that's adopting the platform kind of fully from their legacy system and moving on?

驚人的。很高興聽到。然後我們可以獲得 Axon Records 管道的更新嗎？也許強調一些 - 近期記錄的一些關鍵產品開發優先事項是什麼？然後在客戶規模或任何其他特徵方面是否有任何概況完全從他們的遺留系統中採用該平台並繼續前進？

Maybe I'll start with the pipeline, and then I'll pass it over to Jeff to talk about the feature set and some of the differentiators and investments just in the pipeline where we've got a 2- to 3-year view of customers that are looking to deploy Axon Records. And part of that is our motion of selling it as part of the Officer Safety Plan and bundle. And I want to give Brian Wheeler and the entire Axon Records team a huge shout out for -- we talk about responding to adversity and building really mentally tough teams. I don't know that there's a better example of this at Axon and the records team hearing a lot of early feedback at times complaints early on in the product's life cycle. And now we just -- we see this as the thing that allows us to become the operating system of public safety for the long term. And -- so we're very confident in the demand and our ability to deploy customers over the next several years to get closer to a market leadership position there.

也許我會從管道開始，然後我會把它交給 Jeff 來談談功能集以及管道中的一些差異化因素和投資，我們對管道有 2 到 3 年的看法希望部署 Axon Records 的客戶。其中一部分是我們將其作為軍官安全計劃和捆綁包的一部分出售的動議。我想向 Brian Wheeler 和整個 Axon Records 團隊大聲疾呼——我們談論應對逆境和建立真正堅韌的團隊。我不知道在 Axon 有更好的例子，在產品生命週期的早期，唱片團隊有時會聽到很多早期反饋和抱怨。現在我們只是 - 我們認為這是讓我們能夠長期成為公共安全操作系統的東西。而且 - 所以我們對未來幾年的需求和我們部署客戶的能力非常有信心，以更接近那裡的市場領導地位。

Totally. So just on the numbers, right now, actually deployed, we've got nearly 60 agencies that represent nearly 20,000 sworn officers who are live on at least 1 module of action records, and that includes 17 agencies out of today that are already fully transitioned to use -- to replace their entirely their legacy RMS. And that already includes some great major cities such as Tucson, Baltimore, Virginia Beach and Fresno with more coming soon. So we feel fantastic about the case of adoption that we've got, as Josh said, both in the pipeline as well as what's already deployed and this overall strategy of getting agencies to get going with at least one module of records, which then very, very frequently transitioned to them wanting to adopt the full product for their -- to replace their entire legacy RMS. And you heard me talk when I first joined the company nearly 4 years ago that this was going to be a long journey, but we were confident that over time, exactly as Josh said, we'd be positioned to become the clear leader in this space and both on the strength of the product itself, but again, on its connections and inherent coherence with the rest of the Axon ecosystem, and that's one of the things that our customers value the most as we sell in.

完全。因此，就目前實際部署的數字而言，我們有近 60 個機構，代表近 20,000 名宣誓就職的軍官，他們至少有 1 個行動記錄模塊，其中包括今天已經完全過渡的 17 個機構使用——完全取代他們的遺留 RMS。這已經包括一些大城市，如圖森、巴爾的摩、弗吉尼亞海灘和弗雷斯諾，更多城市即將推出。因此，正如 Josh 所說，我們對採用的案例感到非常滿意，無論是在管道中還是已經部署的，以及讓機構開始使用至少一個記錄模塊的總體策略，然後非常, 非常頻繁地過渡到他們希望為他們採用完整的產品 - 以取代他們的整個遺留 RMS。當我大約 4 年前第一次加入公司時，你聽到我說過這將是一段漫長的旅程，但我們相信隨著時間的推移，正如喬希所說，我們將成為這個領域的明確領導者空間和產品本身的優勢，但同樣，它與 Axon 生態系統的其他部分的聯繫和內在一致性，這是我們的客戶在我們銷售時最看重的事情之一。

Will Power at Baird.

Baird 的 Will Power。

Okay. Great. Yes, I'll try to a couple of questions. I guess, first, it would be great to get any kind of early feedback you're receiving on AB 4. What are some of the features, officers are most excited about? And what's kind of the feedback you're getting on the bidirectional voice capability? I mean is that something they're really going to utilize? Do they think they're utilized, they won't utilize, I'd just be curious kind of what you're hearing so far.

好的。偉大的。是的，我會嘗試回答幾個問題。我想，首先，如果你能收到關於 AB 4 的任何類型的早期反饋，那就太好了。軍官們最感興趣的功能是什麼？您對雙向語音功能的反饋是什麼？我的意思是他們真的要利用這些東西嗎？他們認為他們被利用了嗎，他們不會利用，我只是想知道你到目前為止聽到了什麼。

Yes, absolutely. Thanks for the question. So as you saw in the video and a bit in the shareholder letter, it's, of course, early days, but we're incredibly excited about the initial response both from customers, perspective customers hearing about it and accelerate as well as the customers that are actively trialing it.

是的，一點沒錯。謝謝你的問題。因此，正如您在視頻中和股東信中看到的那樣，當然，現在還處於早期階段，但我們對客戶的初步反應感到非常興奮，有遠見的客戶聽到了它並加速了，以及客戶正在積極試用。

So far, there's both the meat and potatoes things of our best ever battery life and sensor and all of those things, there's the return of the POV accessory and having it unified with the court camera in a way that we have never had before. There's a ton of excitement for both of those things. And then on the comp side, you've heard us talking about respond for multiple years now in the growing really, really healthy, both sales and adoption of that in the field, even when there's only been the one way they are consuming streams up until now. And as agencies are trialing and talking about the bidirectional, we're getting a lot of enthusiasm for what that makes possible, and in particular, a lot of excitement for this idea of the dedicated WATCH MEET button on the camera.

到目前為止，有我們有史以來最好的電池壽命和傳感器等肉和土豆的東西，還有所有這些東西，POV 配件的回歸，並以我們以前從未有過的方式與法庭攝像機統一。這兩件事都讓人興奮不已。然後在 comp 方面，你已經聽到我們談論了多年的響應，在該領域的銷售和採用方面都非常、非常健康地增長，即使他們只有一種方式消費 stream up到目前為止。隨著各機構正在試驗和談論雙向，我們對它的可能性產生了很大的熱情，尤其是對相機上專用的 WATCH MEET 按鈕的想法感到非常興奮。

And the reason why we think we're getting a lot of excitement for that is, as you heard in the video and from Rick, it inverts the control or the perceived control and puts it right in the hands of the individual officer, it makes the conversation for an officer being, hey, if I need help, if I want someone to watch my back, I can request that, and that creates a proactive signal to command staff, support staff, whoever it is, encouraging the and asking them to jump in on that right now as opposed to today's live streaming, which requires someone to be deciding to be passively watching and deciding to go in or with signal alerts like that might come in from time to time. So there's a lot of excitement about all of that. And overall, we expect it to keep ramping just as response has over the past couple of years.

我們認為我們為此感到非常興奮的原因是，正如您在視頻中和 Rick 那裡聽到的那樣，它顛倒了控制權或感知到的控制權，並將其正確地放在了個別官員的手中，這使得軍官的對話是，嘿，如果我需要幫助，如果我希望有人照顧我，我可以提出要求，這會產生一個積極的信號來指揮員工、支持人員，無論是誰，鼓勵他們並詢問他們現在就加入進來，而不是今天的直播，後者需要有人決定被動觀看並決定進入，或者不時收到類似的信號警報。因此，所有這些都令人興奮。總的來說，我們預計它會像過去幾年的反應一樣繼續上升。

Yes. I'll jump in with one of my favorite quotes from Science Victor author, William Gibson, who says the future is here, it's just not evenly distributed. Live streaming when we introduced it a few years ago was a totally new concept. And my tech when we first launched body cameras, this is in an industry where new concepts take a little while to really take hold. But there's ONE agency in Texas called the Texas Medical Center.

是的。我將引用我最喜歡的 Science Victor 作者 William Gibson 的名言之一，他說未來就在這裡，只是分佈不均。幾年前我們推出直播時，它是一個全新的概念。當我們第一次推出隨身相機時，我的技術是在一個新概念需要一段時間才能真正紮根的行業。但是在得克薩斯州有一個機構叫做得克薩斯醫療中心。

We had the chief up during my teeno. He's now livestreaming every call for service into dispatch, and his results have been just phenomenal. Imagine just for a moment that you're a police dispatcher in today's world, you're probably supporting 5 different calls happening with 10 to 15 different officers. You've got to keep track of what's happening largely through these cryptic radio messages on a shared channel with the officers you're managing as well as what other people are managing. And you have very little idea about what's actually happening at these calls.

在我十幾歲的時候，我們讓酋長升職了。他現在將每一次服務呼叫都直播到調度中，他的結果非常驚人。試想一下，您是當今世界的一名警察調度員，您可能正在支持 10 到 15 名不同警官打來的 5 個不同電話。你必須通過與你管理的官員以及其他人正在管理的共享頻道上的這些神秘無線電消息來跟踪正在發生的事情。而且您對這些電話中實際發生的事情知之甚少。

And then flip to a different world where as you're doing this, you can have a screen where you can see visually what's happening for all those officers. And it turns out that our visual system is highly tuned to notice things that are abnormal or out of the ordinary. For example, you're sitting next to somebody on an airplane, right? None of us want to you to creepy person reading the phone the person next to us. And you don't notice it when there's tech is going on, but if they get some photo or something, they'll just grab your attention. And even though it's far in your periphery, you immediately who, I don't even mean to invade this person precut your visual system is really good at that.

然後切換到另一個世界，當你這樣做的時候，你可以有一個屏幕，你可以在其中直觀地看到所有這些官員正在發生的事情。事實證明，我們的視覺系統經過高度調整，可以注意到異常或不同尋常的事物。例如，您在飛機上坐在某人旁邊，對嗎？我們都不想讓你成為我們旁邊那個讀電話的令人毛骨悚然的人。當技術在發展時你不會注意到它，但如果他們得到一些照片或其他東西，他們就會引起你的注意。即使它在你的外圍很遠，你馬上誰，我什至不想入侵這個人預先切割你的視覺系統真的很擅長。

Well, now if you're a dispatcher, what we're hearing from TMC is that these officers or the dispatchers are rapidly able to wait a minute, something doesn't look right with what's happening here, and they'll then tune in and focus. They may call for a supervisor to tune in live, build dispatch additional resources. In some cases, they're helping officers One of them notice somebody who'd been in a different call, who then gave that officer of fake ID or a false name. So I have high confidence that in another 5 to 10 years, the idea of trying to run a police department with only radio voice traffic is going to see just crazy once you can do this with audio and video and more sophisticated integration of sensors. And we believe we're really on the kind of the edge book clubs we made the decision with AB 3 to put LTE into every camera and then allow that to start iterating together with our customers to learn about these new use cases. So the 2-way voice, once you can see a video, the next thing frequently you want to do is communicate with that person and not have to do it over a radio that air traffic is very tightly controlled. It's not one-on-one. You can't have a rich conversation. You have to use cryptic codes because you're also transmitting to 15 or 20 other people that aren't involved in that conversation.

好吧，現在如果你是一名調度員，我們從 TMC 那裡聽到的是，這些官員或調度員很快就能等一分鐘，這裡發生的事情看起來不對勁，然後他們會收聽和重點。他們可能會要求主管進行現場調音，建立派遣額外資源。在某些情況下，他們正在幫助警官 其中一個人注意到有人打過另一個電話，然後這個人給了那個警官假身份證或假名字。所以我非常有信心，再過 5 到 10 年，一旦你可以用音頻和視頻以及更複雜的傳感器集成來做到這一點，那麼嘗試只用無線電語音流量來管理警察部門的想法就會變得瘋狂。我們相信我們確實處於邊緣圖書俱樂部的邊緣，我們決定與 AB 3 一起將 LTE 放入每台相機，然後允許它開始與我們的客戶一起迭代以了解這些新用例。因此，雙向語音，一旦您可以看到視頻，接下來您經常要做的就是與那個人交流，而不必通過空中交通受到嚴格控制的無線電進行交流。這不是一對一的。你無法進行豐富的對話。您必須使用加密代碼，因為您還向其他 15 或 20 個未參與該對話的人傳輸信息。

So we're still early in AB 4 rolling out, but we think the feature set hits both the transformative capability and then some simple things like some people love to have the head mounted camera, some like to mount it on the shoulder, some officers prefer the body camera. Those have always been 2 separate SKUs where you couldn't reconfigure them. We now have one SKU where we can reconfigure if you go from SWAT to petrol or whatever you can now have many mounting options, and the ability to recharge while you are in the car with a magnetic disconnect map gives us effectively infinite battery life. So we think this has been a great combination of both transformative and just continuing to deliver on the basics.

所以我們還處於 AB 4 推出的早期階段，但我們認為該功能集既有變革能力，也有一些簡單的東西，比如有些人喜歡頭戴式攝像頭，有些人喜歡把它安裝在肩膀上，有些軍官更喜歡隨身相機。這些一直是 2 個單獨的 SKU，您無法重新配置它們。我們現在有一個 SKU，如果您從 SWAT 轉到汽油或任何您現在可以有許多安裝選項的地方，我們可以重新配置，並且當您在車內使用磁斷開地圖充電時，我們可以有效地無限電池壽命。因此，我們認為這是變革和繼續提供基礎知識的完美結合。

If I can get a question in for Brittany on free cash flow, has some impacts in the quarter, I think more so than we've seen in past years. So any other color there? Just maybe any thoughts just on the free cash flow outlook for the year.

如果我能就自由現金流向布列塔尼提出問題，對本季度產生一些影響，我認為比我們在過去幾年看到的影響更大。那麼還有其他顏色嗎？也許只是關於今年自由現金流前景的任何想法。

More than what we shared. I wouldn't say it changes any of my view in terms of our ability to generate free cash flow over the course of the year. We just had some strong seasonality in Q1 in terms of uses of cash, including bonus, commissions, some timing around, permitting stock taxes for stock options, a little bit of inventory, but mostly some of those more onetime items.

比我們分享的更多。我不會說這會改變我對我們在這一年中產生自由現金流的能力的任何看法。就現金使用而言，我們在第一季度有一些強烈的季節性，包括獎金、佣金、一些時間安排、允許對股票期權徵收股票稅、一點庫存，但主要是一些一次性項目。

Okay. So cadence of the year is we'll see our price step back beginning in Q2, I suppose, and...

好的。所以今年的節奏是我們會看到我們的價格從第二季度開始回落，我想，而且......

Yes. I think you'll still see good healthy free cash flow for the year.

是的。我認為您今年仍會看到良好健康的自由現金流。

So I'm going to read Keith Housum's question, allowed he's in a public place with bad background noise. So Keith Housum at north coast asking, can we provide an update on VR in terms of modules growth, geographic availability, number of users over the past year and our goals for 2023.

所以我要閱讀 Keith Housum 的問題，允許他在背景噪音很差的公共場所。因此，北海岸的 Keith Housum 問，我們能否提供 VR 的最新信息，包括模塊增長、地理可用性、過去一年的用戶數量以及我們 2023 年的目標。

Sure. I can start there, and maybe Rick can fill any blanks in. The -- I don't think we're ready quite yet to talk about user growth in VR or any kind of detailed financials on the product line. Instead, we're really focused on building a platform here for training police officers at a much higher quality well into the future. And so -- so for us, it's really about, hey, how do we have the foundation built with the skills needed in terms of training between the TASER, a firearm and verbal communication in our community engagement modules.

當然。我可以從這裡開始，也許 Rick 可以填補任何空白。我認為我們還沒有準備好談論 VR 用戶增長或產品線的任何詳細財務信息。相反，我們真正專注於在這裡建立一個平台，以便在未來以更高的質量培訓警官。所以 - 所以對我們來說，這真的是，嘿，我們如何在泰瑟槍、槍支和社區參與模塊中的口頭交流之間建立培訓所需技能的基礎。

And over time, what you'll see is you'll see more specific scenario-based modules being released to the market. In order to start, it will be in the U.S., but we are more rapidly integrating scenarios from some of our growing markets such as international and federal and corrections and otherwise. But again, the foundation of the product has to be very solid between the sensors the officers use and the software that accompanies the experience for the trainers themselves. And so just like with our other products, whether TASER, body camera fleet, it's about getting the basics right first and then moving quickly once we have that platform very solidly built.

隨著時間的推移，您會看到更多基於特定場景的模塊被投放市場。為了開始，它將在美國，但我們正在更快地整合來自我們一些不斷增長的市場的場景，例如國際和聯邦以及更正等。但同樣，產品的基礎必須在官員使用的傳感器和伴隨培訓師自身體驗的軟件之間非常牢固。因此，就像我們的其他產品一樣，無論是 TASER、隨身相機車隊，都是先做好基礎知識，然後在我們非常穩固地構建該平台後迅速行動。

And so we continue to be excited about the bookings we're seeing in VR. It's one of our fastest growing products ever. And we expect that trend to continue for the long term, but we want to make sure we don't get ahead of ourselves and really do things right from the ground up.

因此，我們繼續對在 VR 中看到的預訂感到興奮。它是我們有史以來增長最快的產品之一。我們預計這種趨勢將長期持續下去，但我們希望確保我們不會超前，真正從頭開始做正確的事情。

Okay. And we have 4 more analysts in the queue and we're going to try to get to everybody. today. Jonathan Ho at William Blair.

好的。我們還有 4 位分析師在排隊，我們將嘗試聯繫到每個人。今天。威廉·布萊爾的喬納森·何。

I'll just stick to one question, just to keep things probing. Can you help us maybe understand some of, I guess, the gross margin dynamics around some of your newer products. And maybe how you expect that to trend over the course of the year.

我只會堅持一個問題，只是為了讓事情繼續探索。你能幫助我們了解一些，我想，你的一些新產品的毛利率動態。也許你期望它在一年中的趨勢如何。

Yes. No, I appreciate that. So we've really called out gross margins as probably being very similar to Q1. And if they improve, it will be only slightly. So we're really expecting that to be the dynamic for the rest of the year. A couple of things that really go into that are this continued revenue mix that we're seeing from fleet and the growth we're seeing in fleet let inherently has a lower margin upfront, plus we have professional services to get it installed. So that's an impact to us, which will be a benefit over time. This continued growth in our software revenue over time will be a tailwind, but this year, it is a mix impact for us. And then I would say we would expect as we continue to ramp in T10 to see that improve towards the back half of the year like we were talking about, but that will be offset with some of these fleet dynamics.

是的。不，我很感激。所以我們真的稱毛利率可能與第一季度非常相似。如果他們有所改善，那也只是輕微的。所以我們真的很期待這將成為今年餘下時間的動力。真正涉及到的幾件事是我們從機隊中看到的這種持續的收入組合，以及我們在機隊中看到的增長本身就具有較低的前期利潤率，而且我們有專業的服務來安裝它。所以這對我們有影響，隨著時間的推移這將是一個好處。隨著時間的推移，我們軟件收入的持續增長將是一個順風，但今年，這對我們來說是一個混合的影響。然後我會說，隨著我們繼續增加 T10，我們預計會像我們所說的那樣在今年下半年看到這種改善，但這將被其中一些機隊動態所抵消。

Jeremy Hamblin from Craig-Hallum.

來自 Craig-Hallum 的 Jeremy Hamblin。

And my congratulations to Rick and the team on this milestone of being at the S&P 500. It's a pretty amazing journey over the last -- where you guys were 15 years ago. I wanted to ask just about your ARR, which is up nearly 50% I think probably like the fastest growth on a year-over-year basis, maybe in the company's history, but certainly in the last 5 years. And you provided a little bit of color in the release on that, but just wanted to see if you could add a little bit more in terms of the dynamics between booked seats versus ARPU.

我祝賀 Rick 和團隊在標準普爾 500 指數成份股這一里程碑式的成就。與過去相比，這是一段非常了不起的旅程——你們 15 年前所在的地方。我想問一下你的 ARR，我認為這可能是同比增長最快的 50%，這可能是公司歷史上的，但肯定是在過去 5 年裡。你在發布中提供了一些顏色，但只是想看看你是否可以在預訂座位與 ARPU 之間的動態方面添加更多一點。

You talked about premium packages that you're getting clients to sign up for. But I wanted to see if you could share a little bit more color around that and how we should be thinking about with their product launches around TASER 10, AB 4. I imagine you'll be getting some higher bundled packages on a go-forward basis. But any color you could share on that.

你談到了讓客戶註冊的高級套餐。但我想看看你是否可以分享更多關於它的顏色，以及我們應該如何考慮他們圍繞 TASER 10、AB 4 推出的產品。我想你會在未來獲得一些更高的捆綁包基礎。但是你可以分享任何顏色。

Yes. I'm going to -- I mean I'll jump in and then maybe, Josh, we'll see if Josh wants to add to it. But I would say it really is the sort of flywheel taking effect, and so you're starting to see the benefits of that. Certainly, moving some of our customers into our more premium offerings is continuing to benefit us in terms of ARR growth. And then I think you're seeing many,many years of work to get people added into this software and the rep we're seeing from some of the hardware products and to move up the curve start to come to fruition.

是的。我打算——我的意思是我會加入，然後也許，Josh，我們會看看 Josh 是否想加入它。但我會說這確實是一種飛輪在起作用，所以你開始看到它的好處。當然，將我們的一些客戶轉移到我們更優質的產品中繼續使我們在 ARR 增長方面受益。然後我想你會看到很多很多年的工作，讓人們加入這個軟件，我們從一些硬件產品中看到的代表，並開始取得成果。

Yes. The only thing I'd add there, and Jeremy, I appreciate all the kind words. Thank you very much, and it's been fun to have you guys on a lot of these calls for a long time now. But in terms of the ARR growth, it's really doing 2 things very well. And give Jeff a lot of credit for simplifying this upon his entry tax on a few years ago. So we got to sell new products to our existing customers, and we got to sell our existing products to new customers.

是的。我唯一要補充的是，傑里米，我感謝所有客氣話。非常感謝你們，很長一段時間以來，你們都參與了很多這樣的電話會議，這很有趣。但就 ARR 增長而言，它確實在兩件事上做得很好。並給予傑夫很多功勞，因為他在幾年前簡化了他的入場稅。所以我們必須向現有客戶銷售新產品，我們必須將現有產品銷售給新客戶。

And when we do those things, in parallel very well, you see the types of results that we're seeing now. And so as Brittany said, in our existing markets, getting the flywheel going across OSP, but then supplementing now with great results in federal and enterprise and corrections in international, it's doing those 2 things in parallel, that's leading to great and exciting growth.

當我們同時做這些事情時，你會看到我們現在看到的結果類型。正如 Brittany 所說，在我們現有的市場中，讓飛輪跨越 OSP，但現在補充聯邦和企業的巨大成果以及國際上的修正，它同時做這兩件事，這導致了巨大而令人興奮的增長。

Got it. And just one other follow-up here with the launch of AB 4 and TASER 10. Any color you can share in terms of the adoption kind of cycle times versus what you've seen in the prior ramps, whether you want to compare it to TASER 7 or 83 faster, slower, more depth on that, that would be great.

知道了。 AB 4 和 TASER 10 的發布是這裡的另一個後續行動。任何你可以分享的關於採用周期時間的顏色與你在之前的坡道中看到的顏色，無論你想將它與TASER 7 或 83 更快、更慢、更深入，那就太好了。

Sure. I'd say in the TASER business in general, it's generally a 5-year upgrade cycle. So when you launch -- whenever you launch a new TASER device, you see the customers that bought 5-ish years ago as your customers that have the most early interest. And we're seeing that with T10, but the thing we're most excited about, that's very different from previous generations of the TASER is that customers that are early on or midway through their cycle with TASER 7 are expressing a lot of interest in upgrading early to TASER 10.

當然。我會說在一般的 TASER 業務中，它通常是 5 年的升級週期。因此，當您啟動時——每當您啟動新的 TASER 設備時，您都會看到 5 年前購買的客戶是最早期感興趣的客戶。我們在 T10 上看到了這一點，但我們最興奮的是，與前幾代 TASER 截然不同的是，處於 TASER 7 週期早期或中期的客戶對 TASER 7 表達了極大的興趣提早升級到 TASER 10。

So I think that speaks to the kind of the huge improvements in terms of effectiveness, range and so forth that our customers really see and value, and that's driving them to maybe not only upgrade early but line up the resources on their end in terms of training to also allow that upgrade to happen on a faster cycle. So we're very excited and encouraged. Of course, we've got to execute, and we've got to drive that into fruition, but we've got a lot of confidence that our team is capable of doing that.

因此，我認為這說明了我們的客戶真正看到和重視的有效性、範圍等方面的巨大改進，這促使他們不僅可能提前升級，而且在他們的末端排列資源培訓還可以讓升級以更快的周期發生。所以我們感到非常興奮和鼓舞。當然，我們必須執行，我們必須將其付諸實踐，但我們非常有信心我們的團隊有能力做到這一點。

One anecdote I'll share, forgive my enthusiasm, but we had 1 customer at TASER Con, midsize is in several hundred officer agency that was sitting in the keynote and called back to their chief and they actually changed in order that was in process, and they got the order through, I believe, the Chief Signature and the purchasing department of the city by the end of that day.

我要分享一個軼事，請原諒我的熱情，但我們在 TASER Con 有 1 個客戶，中型公司在數百名官員機構中，他們坐在主題演講中並回電給他們的主管，他們實際上改變了正在進行的順序，我相信他們在那天結束前通過了首席簽名和城市採購部門的訂單。

We've not seen something like that again, I don't want to get too excited from a projection standpoint, but that reaction to me was just extremely meaningful that they saw this as something that was worth really disrupting the the whole process to stop an existing order pivot on a dime and get the new thing approved.

我們再也沒有看到過類似的事情，從預測的角度來看我不想太興奮，但對我的反應非常有意義，因為他們認為這是值得真正擾亂整個過程以停止的事情現有訂單以一毛錢為中心並獲得新事物的批准。

And then the other thing I would tell you is where I think TASER 10 make a really huge difference is in the international markets. TASER 10, for the first time, I think we have a weapon that could become the officer's primary defensive tool, probably not in the U.S. because we live in a country that was and officers need to have their legal lemons. But picked your average European country where Police are all wearing pistols in nations that really don't have a gun prime problem. And previous versions of the TASER weapon probably didn't have enough capability range, enough shots that you would rely on it as the primary tool to defend yourself. And I think we're now crossing that Rubicon. And I think that can really open up the international markets where we have the opportunity to become the primary defensive tool.

然後我要告訴你的另一件事是我認為 TASER 10 在國際市場上真正發揮巨大作用的地方。 TASER 10，我認為我們第一次擁有了一種可以成為軍官主要防禦工具的武器，可能不是在美國，因為我們生活在一個曾經是軍官需要合法檸檬的國家。但是選擇你的普通歐洲國家，在這些國家，警察都戴著手槍，而這些國家確實沒有槍支問題。以前版本的 TASER 武器可能沒有足夠的射程和足夠的射擊次數，以至於您無法將其作為自衛的主要工具。我認為我們現在正在跨越那個 Rubicon。我認為這真的可以打開我們有機會成為主要防禦工具的國際市場。

Erik Suppiger at JMP.

JMP 的 Erik Suppiger。

Just kind of a follow-on from what Rick was just saying. You've talked about the international opportunity for TASER as being multiples of the domestic opportunity. As you said you've seen some strength in Europe, can you talk a little bit about the dynamics of how they're adopting your products. Is it more of a shift towards the TASER. Is that getting -- is that something that can be a bigger opportunity than the body camera? Or what are some of the dynamics in terms of the adoption in Europe?

只是 Rick 剛才所說的後續內容。你談到 TASER 的國際機會是國內機會的倍數。正如您所說，您在歐洲看到了一些優勢，您能談談他們如何採用您的產品的動態嗎？它更像是向 TASER 的轉變嗎？那是不是 - 這會比隨身相機帶來更大的機會嗎？或者在歐洲的採用方面有哪些動態？

Yes. To start, Erik, I'd say it's really some of the actions we took 3 or 4 years ago are really just starting to pay off in TASER programs regardless of geography or market, it generally starts with a lower number of units that are aimed at a particular use case, whether it's SWAT or a certain number of users in a police force.

是的。首先，埃里克，我想說的是，我們 3 或 4 年前採取的一些行動實際上才剛剛開始在 TASER 計劃中獲得回報，無論地理位置或市場如何，它通常以較少數量的目標單位開始在特定用例中，無論是特警還是警察部隊中的一定數量的用戶。

But then once they start seeing early success, that's really when and we see the willingness to adopt the much higher quantities. And really, that's happening in a number of European markets at this point, and that's driving some of the exciting growth there. And as we start to reap the benefits of that. We also are planting seeds in other markets where they're, for the first time adopting either dozens or low hundreds number of TASER devices.

但是一旦他們開始看到早期的成功，那才是真正的時候，我們就會看到願意採用更高數量的產品。實際上，目前許多歐洲市場正在發生這種情況，並且正在推動那裡的一些令人興奮的增長。當我們開始從中獲益時。我們還在他們所在的其他市場播下種子，首次採用數十個或數百個 TASER 設備。

And then in a couple of years, we'll see more proliferation there as well. In terms of the relative opportunity, generally, I'd still say body cameras are the longer term, the higher TAM only because you've got higher ARPUs associated with our video business versus the TASER at scale. But they're both very, very compelling opportunities in international and guess is TASERS will move a little faster as we still -- especially in Europe as we still start to evangelize the cloud more and more there. But over the long term, certainly the body camera and cloud business is very attractive and one that we're really exciting about or excited to continue to grow in some of our international markets.

然後在幾年內，我們也會在那裡看到更多的擴散。就相對機會而言，一般來說，我仍然會說隨身相機是長期的，TAM 更高，只是因為與 TASER 規模相比，與我們的視頻業務相關的 ARPU 更高。但它們在國際上都是非常非常有吸引力的機會，並且猜測 TASERS 會像我們一樣移動得更快一些——尤其是在歐洲，因為我們仍然開始在那裡越來越多地宣傳云。但從長遠來看，隨身相機和雲業務肯定非常有吸引力，我們真的很興奮或很高興能在我們的一些國際市場繼續增長。

Paul Chung at JP Morgan.

摩根大通的Paul Chung。

Just on -- most of the questions have been asked, but just on TASER 10, thanks for all the details on the upgrade cycle. So the use for -- use case for the upgrade is pretty clear given the effectiveness we got to try to accelerate it is quite easy to use. Can you expand on more of the cartridge volume dynamics? And you mentioned kind of a boost on overall margin profile there. Talk about the magnitude would be helpful as well. And is this more of a gradual ramp in the second half?

就在——大多數問題都被問到了，但只是在 TASER 10 上，感謝您提供有關升級週期的所有詳細信息。因此，考慮到我們嘗試加速它的有效性，升級的用例非常清楚，它非常易於使用。你能擴展更多的墨盒體積動力學嗎？你提到了整體利潤率的提升。談論幅度也會有所幫助。這在下半場是否更像是一個漸進的斜坡？

I can probably start with just what the bundle looks like, and then I might hand it over to Britt to talk more about the cartridge gross margins and the ramp -- the -- in the bundle on this product, it's really important since you have 10 shots in the device to be able to train and thus, that drives training cartridge demand up, and -- because each shot is an individual shot, I think over time, we'll see duty values go up as well.

我可能可以從捆綁包的外觀開始，然後我可能會把它交給 Britt 來更多地討論墨盒毛利率和斜坡——在這個產品的捆綁包中，這真的很重要，因為你有設備中的 10 次射擊能夠進行訓練，因此，這推動了訓練彈藥筒的需求，而且——因為每次射擊都是一次單獨的射擊，我認為隨著時間的推移，我們會看到任務值也會上升。

So we've priced all that into the bundle and you can go on the website to look at the relative pricing versus T7, but that contemplates some of the growing cartridge demand. And of course, as we get up to speed with selling high volumes of these, that has implications for us on automation and how fast we're able to ramp our manufacturing, maybe if Brittany has anything to add there on the margin side.

因此，我們已將所有這些定價到捆綁包中，您可以在網站上查看與 T7 的相對定價，但考慮到一些不斷增長的墨盒需求。當然，隨著我們加快銷售大量這些產品的速度，這對我們的自動化以及我們能夠以多快的速度提高製造能力產生了影響，也許如果布列塔尼在利潤方面有什麼可以增加的話。

I think you pretty much nailed it, which is because it's starting to get bundled in. We're not really thinking about cartridges versus handles separately from a gross margin standpoint. We're really thinking about the full TASER package together. And so as we talk about teaser margins improving as we go through the year and get to the back half of the year. We've sort of -- because that's bundled together, I would view it as bundled together in our margin outlook as well.

我認為您幾乎搞定了它，這是因為它開始捆綁在一起。我們並沒有真正從毛利率的角度考慮墨盒與手柄。我們真的在一起考慮完整的 TASER 包。因此，當我們談論預告片利潤率隨著我們經歷這一年並進入下半年而提高時。我們有點——因為它是捆綁在一起的，我認為它在我們的利潤率展望中也是捆綁在一起的。

Got you. That's helpful. And that's the anemic for the Axon, the body cam, the new one as well.

明白了這很有幫助。這就是 Axon 的貧血，身體凸輪，也是新的。

Yes. Paul, I think on the body cam, the only thing I'd add there is, because respond is the thing that drives some of the features in terms of the streaming and communication features in AB 4, there is a real opportunity to sell more outside of the core body camera hardware and service. And -- while we're excited about the growth and respond, we see some opportunity there for the volume of respond licenses sold to grow over time as a result of some of the new capabilities of the AB 4 hardware.

是的。保羅，我認為在身體攝像頭上，我唯一要補充的是，因為響應是驅動 AB 4 中流媒體和通信功能方面的某些功能的東西，這是一個真正的銷售機會在核心機身相機硬件和服務之外。而且——雖然我們對增長和響應感到興奮，但我們看到了一些機會，由於 AB 4 硬件的一些新功能，響應許可的銷售量會隨著時間的推移而增長。

Okay. Great. I think that's everyone. Do we have any follow-ups, I'll give it a second. It looks like no. Thank you for joining us. Let's have Rick close this out.

好的。偉大的。我想每個人都是這樣。我們有任何後續行動嗎，我等一下。好像沒有。感謝您加入我們。讓 Rick 結束這個吧。

Awesome. Obviously, excited to a good start, 2 major new product launches. I think VR, which you guys asked some questions about here is really going to start getting it strived the back half of this year? We've integrated new sensors so that TASER 10 will be first. We'll have a really fine-tuned very smooth, integrated product experience. TASER 7 will follow, and then we'll start rolling out various firearms and other platforms. So we -- we think we're really setting the right stage with these 2 new products and these progress towards our moonshot to continue to sell value-added premium services and to really go wide with VR by next year. We think that will be common for pretty much every officer, an instructor who's getting trained on TASER that we believe VR can become the standard. And that's going to create an opportunity for us to then launch a whole lot more content and services through our VR platform. So Jeff has just been doing a great job with the team, hiring and bringing in great talent to build all of this and then putting together a strategy for how to layer all the hardware and the software pieces.

驚人的。顯然，令人興奮的是一個良好的開端，2 項主要的新產品發布。我認為 VR，你們在這裡問了一些問題，真的會在今年下半年開始努力嗎？我們已經集成了新的傳感器，因此 TASER 10 將是第一個。我們將擁有經過精心調整的非常流暢的集成產品體驗。 TASER 7 將緊隨其後，然後我們將開始推出各種槍支和其他平台。所以我們 - 我們認為我們真的為這 2 種新產品奠定了正確的階段，這些進展使我們的登月計劃繼續銷售增值優質服務，並在明年真正擴大 VR 範圍。我們認為這對幾乎每個軍官來說都是常見的，一個正在接受 TASER 培訓的教員，我們相信 VR 可以成為標準。這將為我們創造機會，然後通過我們的 VR 平台推出更多的內容和服務。因此，Jeff 剛剛在團隊中做得很好，他僱用並引進了優秀人才來構建所有這些，然後製定了一個策略來分層所有硬件和軟件部分。

So we're just really excited to have you shareholders and analysts who've been of our journey, and we're just getting started. We got an exciting 10-year march ahead of us to cut gun related deaths in half, and I'm confident we're going to do it. So with that, we'll see you all at our next shareholder meeting and then at our next quarterly results, I have to wrap up Q2. So thanks, everybody, and have a great night.

所以我們真的很高興有你們的股東和分析師參與我們的旅程，我們才剛剛開始。我們前面有一個激動人心的 10 年征程，即將槍支相關死亡人數減少一半，我相信我們會做到這一點。因此，我們將在下一次股東大會上與大家見面，然後在我們的下一個季度業績中，我必須結束第二季度。所以謝謝大家，祝你有個愉快的夜晚。