Nov 5, 4:54 PM ET
Axon Enterprise announced an incremental minority investment of about $1.2 billion in drone maker Skydio, which it expects will raise Axon's fully diluted ownership from about 15% to about 37%. The primary purchase closed on November 5, 2026, and the remaining transactions are expected to close in the fourth quarter of 2026 and first quarter of 2027. The deal adds a large cash outlay and share issuance for Axon, and Axon also becomes Skydio's exclusive public safety distributor in the U.S. and Canada.
- Primary purchase closed November 5, 2026: 25,000,000 Series G preferred shares at $10.19617 per share, for about $254.9 million in aggregate.
- Total investment is about $1.2 billion, with about $720 million (approximately 60%) expected in cash and the remainder in Axon common stock.
- Axon stock issued for the investment is capped at 19.99% of shares outstanding before the primary closing.
- Tender offer to begin within ten business days of the primary closing; the Committed Secondary is expected to close in the first quarter of 2027.
Read the filing on SEC.gov ↗
Nov 5, 4:18 PM ET
Axon Enterprise reported third-quarter 2026 revenue of $909 million, an increase of 28% year over year, driven by strong growth in Software & Services. The company also announced a $1.2 billion investment in Skydio, raising its ownership stake to 37% and establishing an exclusive public safety distribution partnership. Net income reached $57 million, recovering from a net loss in the prior-year period.
- Q3 2026 total revenue grew 28% year over year to $909 million, with net income of $57 million.
- Announced a $1.2 billion investment in Skydio, increasing the ownership stake to 37%.
- Full-year 2026 revenue growth is expected to be approximately 30%, reflecting $130 million in excluded Federal Dedrone deployments.
- Annual recurring revenue grew 40% year over year to $1.8 billion as of September 30, 2026.
Read the filing on SEC.gov ↗
Sep 21, 6:02 AM ET
Axon issued and sold $1,150.0 million of 0% convertible senior notes due September 15, 2031, on September 18, 2026, including $150.0 million from the full exercise of the underwriters' over-allotment option. The initial conversion price is about $652.06 per share, compared with a last reported sale price of $442.08 on September 15, 2026, so conversion could dilute existing shareholders. The company said capped call transactions are expected to reduce that potential dilution, subject to a cap price of $1,049.94.
- Principal of $1,150.0 million issued September 18, 2026, including $150.0 million from full exercise of the over-allotment option
- Notes bear no regular interest and mature September 15, 2031; initial conversion rate of 1.5336 shares per $1,000 principal
- Expected net proceeds of about $1,134.3 million if the over-allotment option is exercised in full, with about $114.9 million used for capped call transactions
- Holders may require repurchase at par on or around March 20, 2031, and the company may redeem for cash on or after September 20, 2029, under specified conditions
Read the filing on SEC.gov ↗
Sep 15, 7:20 AM ET
Axon announced a proposed offering of $1.0 billion of 0% convertible senior notes due 2031 and filed an amendment to its credit agreement that would raise its revolving credit facility from $300.0 million to $500.0 million, conditioned on the notes offering closing. The filing shows added borrowing capacity and potential share dilution, with proceeds partly used for capped call transactions and the rest for general corporate purposes, including possible acquisitions.
- Proposed $1.0 billion of 0% convertible senior notes due September 15, 2031, with underwriters able to buy up to an additional $150.0 million.
- Revolving facility expected to increase from $300.0 million to $500.0 million, with an option to add $150.0 million more; maturity extended to up to five years from closing.
- Part of net proceeds will pay for capped call transactions meant to reduce potential dilution; the remainder is for general corporate purposes, which may include acquisitions.
- Noteholders may require repurchase on March 20, 2031, and Axon may settle conversions in cash, shares, or both.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.