Axon Q1 revenue rises 31% to $604 million; restates 2024 results for note classification
Axon reported first-quarter 2025 revenue of $604 million, up 31% year over year, and raised its full-year 2025 revenue outlook to $2.60 billion to $2.70 billion. The company also said on May 1, 2025, its Audit Committee concluded that its 2024 annual financial statements and the 2024 quarterly statements for March 31 and September 30 should no longer be relied upon, because $690.0 million of convertible notes were presented as long-term rather than current liabilities. Total assets, total liabilities and stockholders' equity were not affected, but the filing discloses an additional material weakness in internal control over financial reporting.
Key points
- Q1 2025 revenue of $604 million, up 31% year over year; net income of $88 million, or $1.08 per diluted share
- Full-year 2025 revenue outlook raised to $2.60 billion to $2.70 billion, from $2.55 billion to $2.65 billion
- Audit Committee concluded on May 1, 2025 that 2024 annual and 2024 Q1 and Q3 financial statements should no longer be relied upon
- The $690.0 million 2027 convertible notes are reclassified from long-term to current liabilities; an additional material weakness in internal controls was identified
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2025.
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.