Every material Form 8-K Axon Enterprise filed with the SEC in 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
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.
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
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.
Axon reported second-quarter 2026 revenue of $904 million, up 35% year over year, and raised its full-year 2026 revenue growth outlook to 32% to 34% from 30% to 32%. Net income fell to $29 million from $36 million a year earlier, which the company attributes mainly to a large tax benefit recognized in the prior year, although pre-tax income increased.
Q2 2026 revenue was $904 million, up 35% year over year; Software & Services revenue was $398 million (up 36%) and Connected Devices revenue was $507 million (up 35%).
Net income was $29 million, or $0.36 per diluted share, down from $36 million a year earlier; the company cites a large prior-year tax benefit.
The 2026 revenue growth outlook was raised to 32% to 34%, while the 2026 Adjusted EBITDA margin outlook of 25.5% was maintained.
Future contracted bookings grew 41% year over year to $15.1 billion as of June 30, 2026.
Axon Enterprise appointed Vivek Mohindra and Eiso Kant as independent directors effective July 8, 2026, each filling an existing board vacancy. Mohindra also joins the Audit and Compensation Committees, and Kant became a non-voting observer of the Mergers & Acquisitions and Capital Structure Committee. The filing describes standard director pay and indemnification terms, which the company says are consistent with its current Board compensation program.
Vivek Mohindra and Eiso Kant were appointed to the Board effective July 8, 2026, with terms expiring at the 2027 annual meeting.
Each director receives an initial restricted stock unit award valued at $260,000 and annual RSU awards valued at $260,000, plus $40,000 in annual cash compensation.
Mohindra is a former senior leader at Dell Technologies, and Kant is co-founder and CTO of poolside, which he also co-leads as co-CEO.
Axon reported first-quarter 2026 revenue of $807 million, up 34% year over year, and raised its full-year 2026 revenue growth outlook to 30% to 32% from 27% to 30%. Net income rose to $169 million from $88 million, but gross margin fell 150 basis points and operating cash flow was an outflow of $32 million, so shareholders face stronger growth and profit alongside weaker margins and cash flow in the quarter.
Q1 2026 revenue of $807 million, up 34% year over year; Software & Services revenue of $355 million, up 35%
Net income of $169 million, or $2.05 per diluted share, versus $88 million a year earlier; non-GAAP net income of $133 million
Full-year 2026 revenue growth outlook raised to 30% to 32% from 27% to 30%; Adjusted EBITDA margin outlook of 25.5% unchanged
Total gross margin of 59.1%, down 150 basis points year over year; operating cash outflow of $32 million
Axon Enterprise director Matthew McBrady told the Board on April 6, 2026, that he will not seek re-election at the 2026 Annual Meeting of Shareholders. He will remain on the Board until his term ends at that meeting, and the company said his decision was not the result of any disagreement over operations, policies or practices.
Notice given to the Board on April 6, 2026
McBrady remains a director until his term expires at the 2026 Annual Meeting
The company states the decision involved no disagreement on operations, policies or practices
Axon Enterprise disclosed that director Julie Anne Cullivan will not seek re-election at the 2026 Annual Meeting of Shareholders. She will remain on the Board until her term ends at that meeting, and the company said the decision was not due to any disagreement over its operations, policies or practices.
Julie Anne Cullivan notified the Board on March 5, 2026 of her decision
She will continue as a director until her term expires at the 2026 Annual Meeting
The company states the decision was not the result of any disagreement with management on operations, policies or practices
Axon reported fourth-quarter 2025 revenue of $797 million, up 39% year over year, and set 2026 guidance of 27% to 30% revenue growth. GAAP net income fell to $3 million from $135 million a year earlier, with an operating loss of $50 million, while non-GAAP net income rose to $178 million.
Q4 2025 revenue of $797 million, up 39% year over year; Software & Services revenue of $343 million, up 40%
Operating loss of $50 million; net income of $3 million, or $0.03 per diluted share, versus $135 million a year earlier
Non-GAAP net income of $178 million, or $2.15 per diluted share, versus $168 million a year earlier
2026 outlook of 27% to 30% revenue growth and 25.5% Adjusted EBITDA margin; new 2028 target of $6 billion in annual revenue
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.
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