Axon has posted record first-quarter revenue and profit.
As a private company it doesn’t disclose actual numbers, but for the quarter ended January 31, revenue was up 20 percent, profit more than 30 percent and margins more than 25 percent, says chief executive Scott Green.
He says managed services now make up 40 percent of Axon’s business – expected to rise to 45 percent this fiscal year – compared with around 25 percent “four or five years ago”.
“Our business is heavily focused on infrastructure services which reduce existing operational and capital ICT infrastructure costs,” he says. This frees up funds for business transformation projects and creating platforms for future growth, he says.
Around 65 percent of ICT budgets are spent on “keeping the lights on” – maintaining and managing an existing ICT infrastructure, he says.
Axon’s annual revenues are approaching $100 million, he says.