Financials

Axon Enterprise Inc. financials

AXON Commercial Services and Supplies

Axon Enterprise Inc., founded in 1993 and headquartered in Scottsdale, Arizona, United States, is a premier provider of public safety technology, including TASER devices, body cameras, and the Evidence.com digital evidence management platform. The company earns revenue through both hardware sales and recurring SaaS subscriptions, serving law enforcement agencies with integrated solutions. Led by CEO Rick Smith, Axon holds a strong market position and is investing in AI innovations and international growth to drive future performance.

Snapshot

Axon Enterprise Inc. reported $2.78B in revenue in fiscal 2025, up 33.5% year over year, with an operating margin of -2.2%.

Revenue (FY2025)
$2.78B
YoY growth
+33.5%
Operating margin
-2.2%
Direction
Expanding

Financial statements

In thousands, USD · annual
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Total Revenues2,779,5402,082,5301,560,7001,187,140
Cost of Sales1,121,410841,146605,246461,030
Gross Profit1,658,1301,241,380955,453726,113
Selling, General & Administrative Expenses1,035,890741,247494,884399,330
Research & Development Expenses684,308441,593303,719233,810
Operating Profit(62,076)58,540156,85092,973
Interest and Investment Income75,43136,59542,1124,294
Interest Expense(94,238)———
Non-Operating Income99,857286,369(41,901)98,971
Total Non-Operating Income81,050322,964211103,265
Income Before Provision for Income Taxes18,974381,504157,061196,238
Provision for Income Taxes(105,682)4,470(18,722)49,308
Consolidated Net Income124,656377,034175,783146,930
Net Income Attributable to Common Shareholders124,656377,034175,783146,930
Basic EPS1.604.982.372.07
Diluted EPS1.514.802.332.03
Basic Weighted Average Shares Outstanding78,08175,74874,19571,093
Diluted Weighted Average Shares Outstanding82,37078,55875,45672,534
Shares Outstanding80,21276,61975,30171,475
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Cash and Cash Equivalents1,201,150454,844598,545353,684
Short-Term Investments532,630531,505721,994621,009
Total Cash and Cash Equivalents1,733,780986,3491,320,540974,693
Accounts Receivable777,486547,572412,961358,190
Other Receivables582,630367,929287,232196,902
Total Trade Receivables1,360,120915,501700,193555,092
Inventories341,811265,316269,855202,471
Other Current Assets277,348130,315103,05573,022
Total Current Assets3,713,0502,297,4802,393,6401,805,280
Net Property, Plant & Equipment330,979247,324200,533169,843
Net Intangible Assets196,972175,15719,53912,158
Goodwill1,370,190756,83857,94544,983
Long-Term Investments601,148455,886318,700503,150
Other Long-Term Assets787,973541,902418,815316,482
Total Assets7,000,3104,474,5903,409,1702,851,890
Accounts Payable139,08671,95565,85259,918
Accrued Expenses510,538279,193193,550155,934
Current Portion of Long-Term Debt80,552680,289——
Unearned Revenue730,864633,581492,350380,436
Other Current Liabilities9,10712,8579,7876,358
Total Current Liabilities1,470,1501,677,880761,539602,646
Long-Term Debt1,730,170—677,113673,967
Leases98,94241,38333,55037,143
Other Long-Term Liabilities458,396427,665321,207269,647
Total Long-Term Liabilities2,287,510469,0481,031,870980,757
Total Liabilities3,757,6602,146,9201,793,4101,583,400
Common Stock1111
Treasury Stock(157,242)(155,947)(155,947)(155,947)
Additional Paid-in Capital2,475,0401,689,7801,347,4101,174,590
Accumulated Other Comprehensive Income(11,806)(18,184)(10,679)(7,179)
Retained Earnings936,670812,014434,980257,022
Total Common Shareholders' Equity3,242,6602,327,6701,615,7701,268,490
Total Shareholders' Equity3,242,6602,327,6701,615,7701,268,490
Total Liabilities and Shareholders' Equity7,000,3104,474,5903,409,1702,851,890
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Net Income124,656377,034175,783146,930
Depreciation & Amortization83,16148,42519,31523,116
Share-Based Compensation Expense634,231382,604131,358106,176
Other Adjustments(148,965)(327,063)(12,375)(60,192)
Changes in Trade Receivables(505,560)(245,842)(178,989)(78,226)
Changes in Inventories(81,951)607(77,626)(95,011)
Changes in Accounts Payable286,88554,51965,32980,978
Changes in Unearned Revenue83,476155,641146,819155,566
Changes in Other Operating Activities(264,594)(37,613)(80,351)(43,976)
Cash from Operating Activities211,339408,312189,263235,361
Capital Expenditure(136,258)(78,785)(59,635)(55,802)
Purchases of Investments(2,076,300)(793,419)(563,680)(845,179)
Proceeds from Sale of Investments2,134,5601,003,390657,41872,138
Payments for Business Acquisitions(646,875)(621,817)(21,090)(2,104)
Other Investing Activities(49)54(537)(20)
Cash from Investing Activities(724,930)(490,573)12,476(830,967)
Issuance of Long-Term Debt1,750,000—94,705673,695
Repayments of Long-Term Debt(608,890)———
Net Issuance / (Repayments) of Long-Term Debt1,141,110—94,705673,695
Issuance of Common Shares2,239,55014,576149,208124,195
Repurchases of Common Shares(350,981)(58,178)(107,894)(4,870)
Net Issuance / (Repurchases) of Common Shares1,888,570(43,602)41,314119,325
Other Financing Activities(27,218)(1,835)—(194,994)
Cash from Financing Activities1,252,470(45,437)41,314598,100
Effect of Exchange Rate Changes on Cash and Cash Equivalents7,756(6,209)2,065(3,380)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash746,630(133,907)245,118(886)

Quarterly trend

last 8 quarters
QuarterRevenueYoY growthOperating marginOperating income
Q1 2026$807M+33.7%3.6%$29M
Q4 2025$797M+38.5%-6.3%$-50M
Q3 2025$711M+30.6%-0.3%$-2M
Q2 2025$669M+32.8%-0.2%$-1M
Q1 2025$604M—-1.5%$-9M
Q4 2024$575M—-2.7%$-16M
Q3 2024$544M—4.4%$24M
Q2 2024$503M—6.7%$34M
Revenue by quarter$M
$503M
Q2 '24
$544M
Q3 '24
$575M
Q4 '24
$604M
Q1 '25
$669M
Q2 '25
$711M
Q3 '25
$797M
Q4 '25
$807M
Q1 '26
59.7%
Gross margin
-2.2%
Operating margin
4.5%
Net margin
SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated

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