Axon Enterprise (AXON) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.83

$1.53$2.18

vs $2.12-13.9%

18 analysts

Next Qtr

$2.02

$1.70$2.45

vs $1.17+72.5%

18 analysts

Current Yr

$7.69

$6.70$9.39

vs $6.85+12.3%

20 analysts

Next Yr

$10.57

$9.22$12.71

vs $7.69+37.5%

20 analysts

Revenue Estimates

Current Qtr

$876.46M

$857.44M$889.32M

vs $668.54M+31.1%

15 analysts

Next Qtr

$937.57M

$917.21M$964.56M

vs $710.64M+31.9%

15 analysts

Current Yr

$3.66B

$3.61B$3.70B

vs $2.78B+31.5%

17 analysts

Next Yr

$4.73B

$4.52B$5.10B

vs $3.66B+29.3%

17 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for AXON on EDGAR.

AXON filing events and research context
Filed	Item	Context
May 7, 2026	mda_quarterly	Axon reported first-quarter 2026 revenues of $807.3 million, a 33.7% increase year-over-year, with operating income improving to $29.2 million from a prior-year loss. Net income reached $169.3 million, significantly bolstered by $196.6 million from strategic investments. Gross margin declined to 59.1% (adjusted 61.6%), pressured by global tariffs, higher professional services costs, and a revenue shift toward Platform Solutions. Growth in the Connected Devices segment (+32.8%) was driven by TASER 10 volume, AB4 body camera adoption, and increased demand for counter-drone equipment and fleet systems. Software and Services revenue rose 34.9% due to user expansion and premium feature adoption. Geographically, international revenue grew to 20% of total sales, led by the EMEA region. Operating expenses increased due to higher headcount and sales commissions. Liquidity decreased, with cash and equivalents ending at $458.9 million following the $549.7 million acquisition of Carbyne and other strategic investments. The company maintains $1.75 billion in outstanding Senior Notes. While the Supreme Court ruled that IEEPA tariffs were unauthorized, Axon has not recorded any recovery benefits as refunds are not considered probable.
Feb 25, 2026	business	AXON operates extensively within U.S. and foreign government markets, subjecting it to the Federal Acquisition Regulation (FAR) and risks associated with the potential cancellation of defense programs that exceed budget or schedule targets by more than 15%. The company faces increasing operational costs and reputational risks stemming from evolving ESG mandates, including the UK Modern Slavery Act and the EU’s Corporate Sustainability Reporting Directive. Financial stability is tied to its ability to service debt, including 2030 and 2033 Notes and a revolving credit facility governed by restrictive covenants that limit additional indebtedness, distributions, and asset disposals. Furthermore, 2027 Note Hedge and Warrant transactions introduce potential common stock dilution and market price volatility, compounded by unsecured counterparty credit risk. To protect sensitive law enforcement and employee data, AXON employs a cybersecurity framework aligned with ISO, SOC 2, CJIS, FedRAMP, and NIST standards. This program is managed by the Chief Information Security Officer and overseen by the Board’s Enterprise Risk and Compliance Committee to mitigate threats to critical information systems and ensure regulatory compliance. Legal risks are further managed through amended bylaws that establish the Delaware Chancery Court and U.S. federal courts as exclusive forums for specific shareholder claims.
Feb 25, 2026	mda	Axon reported 2025 revenues of $2.8 billion, a 33.5% increase over 2024. The company realigned into two reportable segments: Connected Devices and Software and Services. Connected Devices revenue rose 29.1% to $1.58 billion, driven by TASER 10 volume, AB4 body camera adoption, and growth in counter-drone equipment and VR training. Software and Services revenue grew 39.6% to $1.20 billion, fueled by increased user counts and premium add-on adoption. Despite top-line growth, Axon shifted to an operating loss of $62.1 million, primarily due to increased headcount and stock-based compensation. Adjusted gross margin declined to 62.6% from 63.2%, pressured by global tariffs and a higher revenue mix from Platform Solutions. Net income fell to $124.7 million, though it remained positive due to $186.4 million in strategic investment gains and a $105.7 million tax benefit. Liquidity strengthened significantly, with cash and equivalents reaching $1.2 billion, supported by the issuance of Senior Notes in March 2025. International growth was primarily concentrated in the Americas region.

Filed

Item

Context

May 7, 2026

mda_quarterly

Axon reported first-quarter 2026 revenues of $807.3 million, a 33.7% increase year-over-year, with operating income improving to $29.2 million from a prior-year loss. Net income reached $169.3 million, significantly bolstered by $196.6 million from strategic investments. Gross margin declined to 59.1% (adjusted 61.6%), pressured by global tariffs, higher professional services costs, and a revenue shift toward Platform Solutions. Growth in the Connected Devices segment (+32.8%) was driven by TASER 10 volume, AB4 body camera adoption, and increased demand for counter-drone equipment and fleet systems. Software and Services revenue rose 34.9% due to user expansion and premium feature adoption. Geographically, international revenue grew to 20% of total sales, led by the EMEA region. Operating expenses increased due to higher headcount and sales commissions. Liquidity decreased, with cash and equivalents ending at $458.9 million following the $549.7 million acquisition of Carbyne and other strategic investments. The company maintains $1.75 billion in outstanding Senior Notes. While the Supreme Court ruled that IEEPA tariffs were unauthorized, Axon has not recorded any recovery benefits as refunds are not considered probable.

Feb 25, 2026

business

AXON operates extensively within U.S. and foreign government markets, subjecting it to the Federal Acquisition Regulation (FAR) and risks associated with the potential cancellation of defense programs that exceed budget or schedule targets by more than 15%. The company faces increasing operational costs and reputational risks stemming from evolving ESG mandates, including the UK Modern Slavery Act and the EU’s Corporate Sustainability Reporting Directive. Financial stability is tied to its ability to service debt, including 2030 and 2033 Notes and a revolving credit facility governed by restrictive covenants that limit additional indebtedness, distributions, and asset disposals. Furthermore, 2027 Note Hedge and Warrant transactions introduce potential common stock dilution and market price volatility, compounded by unsecured counterparty credit risk. To protect sensitive law enforcement and employee data, AXON employs a cybersecurity framework aligned with ISO, SOC 2, CJIS, FedRAMP, and NIST standards. This program is managed by the Chief Information Security Officer and overseen by the Board’s Enterprise Risk and Compliance Committee to mitigate threats to critical information systems and ensure regulatory compliance. Legal risks are further managed through amended bylaws that establish the Delaware Chancery Court and U.S. federal courts as exclusive forums for specific shareholder claims.

Feb 25, 2026

mda

Axon reported 2025 revenues of $2.8 billion, a 33.5% increase over 2024. The company realigned into two reportable segments: Connected Devices and Software and Services. Connected Devices revenue rose 29.1% to $1.58 billion, driven by TASER 10 volume, AB4 body camera adoption, and growth in counter-drone equipment and VR training. Software and Services revenue grew 39.6% to $1.20 billion, fueled by increased user counts and premium add-on adoption. Despite top-line growth, Axon shifted to an operating loss of $62.1 million, primarily due to increased headcount and stock-based compensation. Adjusted gross margin declined to 62.6% from 63.2%, pressured by global tariffs and a higher revenue mix from Platform Solutions. Net income fell to $124.7 million, though it remained positive due to $186.4 million in strategic investment gains and a $105.7 million tax benefit. Liquidity strengthened significantly, with cash and equivalents reaching $1.2 billion, supported by the issuance of Senior Notes in March 2025. International growth was primarily concentrated in the Americas region.

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AXON filing events and research context

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