Axon Enterprise (AXON)

Nasdaq Industrials Aerospace & Defense S&P 500Nasdaq-100

$313.00

-69.56 (-18.18%)

Close of Nov 06, 2026 · end-of-day data

Source: Axon Enterprise's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$268.25M	$343.80M	$420.07M	$530.86M	$681.00M	$865.64M	$1.19B	$1.56B	$2.08B	$2.78B
Cost of revenue	$97.71M	$136.71M	$161.49M	$223.57M	$264.67M	$319.92M	$461.03M	$605.25M	$841.15M	$1.12B
Gross profit	$170.54M	$207.09M	$258.58M	$307.29M	$416.33M	$545.72M	$726.11M	$955.45M	$1.24B	$1.66B
Research & development	$30.61M	$55.37M	$76.86M	$100.72M	$123.19M	$194.03M	$233.81M	$303.72M	$441.59M	$684.31M
Selling, general & admin	$108.08M	$138.69M	$156.89M	$212.96M	$307.29M	$514.85M	$399.33M	$494.88M	$741.25M	$1.04B
Operating income	$31.85M	$13.02M	$24.84M	-$6.39M	-$14.15M	-$163.15M	$92.97M	$156.85M	$58.54M	-$62.08M
Interest expense	—	—	—	—	—	—	—	$7.00M	$7.10M	$94.24M
Pre-tax income	$31.50M	$15.76M	$28.10M	$2.07M	-$6.29M	-$136.40M	$196.24M	$157.06M	$381.50M	$18.97M
Income tax	$14.20M	$10.55M	-$1.10M	$1.19M	-$4.57M	-$80.06M	$49.31M	-$18.72M	$4.47M	-$105.68M
Net income	$17.30M	$5.21M	$29.20M	$882.00K	-$1.72M	-$56.34M	$146.93M	$175.78M	$377.03M	$124.66M
EBITDA	$35.51M	$21.06M	$35.46M	$4.97M	-$1.68M	-$144.46M	$116.09M	$176.16M	$106.97M	$21.09M
EPS (basic)	$0.33	$0.10	$0.52	$0.01	$-0.03	$-0.85	$2.07	$2.37	$4.98	$1.60
EPS (diluted)	$0.32	$0.10	$0.50	$0.01	$-0.03	$-0.91	$2.03	$2.33	$4.80	$1.51
Diluted shares	53.54M	53.90M	57.92M	60.02M	61.78M	66.19M	72.53M	75.46M	78.56M	82.37M
Gross margin	63.6%	60.2%	61.6%	57.9%	61.1%	63.0%	61.2%	61.2%	59.6%	59.7%
Operating margin	11.9%	3.8%	5.9%	-1.2%	-2.1%	-18.8%	7.8%	10.0%	2.8%	-2.2%
Net margin	6.4%	1.5%	7.0%	0.2%	-0.3%	-6.5%	12.4%	11.3%	18.1%	4.5%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$40.65M	$75.11M	$349.46M	$172.25M	$155.44M	$356.33M	$353.68M	$598.54M	$454.84M	$1.20B
Short-term investments	$48.41M	$6.86M	$0	$178.53M	$406.52M	$14.51M	$581.77M	$644.05M	$333.24M	$505.42M
Inventory	$34.84M	$45.47M	$33.76M	$38.84M	$89.96M	$108.69M	$202.47M	$269.86M	$265.32M	$341.81M
Total current assets	$177.23M	$205.19M	$558.15M	$609.48M	$981.95M	$1.11B	$1.81B	$2.39B	$2.30B	$3.71B
Goodwill	$10.44M	$14.93M	$24.98M	$25.01M	$25.20M	$43.59M	$44.98M	$57.95M	$756.84M	$1.37B
Total assets	$278.16M	$338.11M	$719.54M	$845.64M	$1.38B	$1.69B	$2.85B	$3.41B	$4.47B	$7.00B
Total current liabilities	$78.04M	$107.95M	$166.01M	$195.57M	$256.33M	$418.52M	$602.65M	$761.54M	$1.68B	$1.47B
Short-term debt	—	—	—	—	—	—	—	$0	$680.29M	$80.55M
Long-term debt	—	—	—	—	—	—	—	$677.11M	$0	$1.73B
Total debt	—	—	—	—	—	—	—	$677.11M	$680.29M	$1.81B
Total liabilities	$127.28M	$170.67M	$252.22M	$302.14M	$404.77M	$640.36M	$1.58B	$1.79B	$2.15B	$3.76B
Shareholders' equity	$150.89M	$167.44M	$467.32M	$543.50M	$976.25M	$1.05B	$1.27B	$1.62B	$2.33B	$3.24B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$21.14M	$18.47M	$63.88M	$65.67M	$38.48M	$124.49M	$235.36M	$189.26M	$408.31M	$211.34M
Capital expenditures	$4.96M	$10.42M	$11.14M	$15.94M	$72.63M	$49.89M	$55.80M	$59.63M	$78.78M	$136.26M
Free cash flow	$16.18M	$8.05M	$52.74M	$49.73M	-$34.15M	$74.61M	$179.56M	$129.63M	$329.53M	$75.08M
Investing cash flow	-$3.04M	$19.08M	-$9.86M	-$240.74M	-$356.53M	$252.56M	-$830.97M	$12.48M	-$490.57M	-$724.93M
Financing cash flow	-$34.55M	-$3.82M	$219.35M	-$3.94M	$299.26M	-$174.18M	$598.10M	$41.31M	-$45.44M	$1.25B
Share buybacks	$33.75M	$0	$0	—	—	—	—	—	—	—
Stock-based compensation	$9.37M	$15.61M	$21.88M	$78.50M	$133.57M	$303.33M	$106.18M	$131.36M	$382.60M	$634.23M
Depreciation & amortization	$3.66M	$8.04M	$10.62M	$11.36M	$12.47M	$18.69M	$23.12M	$19.32M	$48.42M	$83.16M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$430.38M	$459.87M	$503.24M	$544.27M	$575.14M	$603.63M	$668.54M	$710.64M	$796.72M	$807.35M	$904.39M	$908.55M
Cost of revenue	$166.38M	$201.24M	$197.08M	$213.53M	$229.30M	$237.89M	$264.80M	$283.29M	$335.43M	$330.06M	$357.94M	$393.58M
Gross profit	$263.99M	$258.63M	$306.16M	$330.75M	$345.85M	$365.74M	$403.74M	$427.35M	$461.30M	$477.29M	$546.45M	$514.98M
Research & development	$83.97M	$91.10M	$101.43M	$114.48M	$134.59M	$151.02M	$162.57M	$176.67M	$194.04M	$188.95M	$208.69M	$192.40M
Selling, general & admin	$137.27M	$151.07M	$170.96M	$192.19M	$227.02M	$223.51M	$242.21M	$252.80M	$317.37M	$259.09M	$290.98M	$280.50M
Operating income	$42.75M	$16.46M	$33.76M	$24.08M	-$15.76M	-$8.79M	-$1.04M	-$2.13M	-$50.12M	$29.24M	$46.78M	$42.08M
Interest expense	—	$1.76M	$1.87M	$1.65M	$1.82M	$7.82M	$28.69M	$28.91M	$28.82M	$28.64M	$28.10M	$28.34M
Pre-tax income	$55.74M	$165.90M	$51.47M	$79.57M	$84.56M	$108.39M	-$38.88M	$15.70M	-$66.24M	$200.22M	$32.68M	$78.92M
Income tax	-$1.32M	$32.54M	$10.00M	$12.54M	-$50.62M	$20.41M	-$75.00M	$17.89M	-$68.98M	$30.91M	$3.26M	$21.91M
Net income	$57.06M	$133.35M	$41.47M	$67.03M	$135.18M	$87.98M	$36.12M	-$2.19M	$2.75M	$169.31M	$29.43M	$57.01M
EBITDA	$49.22M	$23.81M	$44.14M	$37.08M	$1.93M	$10.66M	$16.12M	$17.48M	-$23.17M	$59.60M	$79.24M	$75.31M
EPS (basic)	$0.76	$1.77	$0.55	$0.89	$1.78	$1.14	$0.46	$-0.03	$0.03	$2.11	$0.37	$0.70
EPS (diluted)	$0.75	$1.73	$0.53	$0.86	$1.68	$1.08	$0.44	$-0.03	$0.03	$2.05	$0.36	$0.68
Diluted shares	244.00K	77.13M	77.55M	78.08M	944.00K	81.48M	82.06M	78.42M	152.00K	82.48M	82.54M	83.67M
Gross margin	61.3%	56.2%	60.8%	60.8%	60.1%	60.6%	60.4%	60.1%	57.9%	59.1%	60.4%	56.7%
Operating margin	9.9%	3.6%	6.7%	4.4%	-2.7%	-1.5%	-0.2%	-0.3%	-6.3%	3.6%	5.2%	4.6%
Net margin	13.3%	29.0%	8.2%	12.3%	23.5%	14.6%	5.4%	-0.3%	0.3%	21.0%	3.3%	6.3%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$598.54M	$403.87M	$566.45M	$695.14M	$454.84M	$1.09B	$615.50M	$1.42B	$1.20B	$458.92M	$597.70M	$1.46B
Short-term investments	$644.05M	$560.19M	$402.47M	$311.57M	$333.24M	$1.10B	$1.47B	$952.79M	$505.42M	$260.00M	$75.70M	$181.59M
Inventory	$269.86M	$271.32M	$277.75M	$272.30M	$265.32M	$279.67M	$308.49M	$317.51M	$341.81M	$408.01M	$486.56M	$579.23M
Total current assets	$2.39B	$2.20B	$2.21B	$2.43B	$2.30B	$3.78B	$3.83B	$4.22B	$3.71B	$2.74B	$3.00B	$4.28B
Goodwill	$57.95M	$308.47M	$307.76M	$308.47M	$756.84M	$755.88M	$762.25M	$773.39M	$1.37B	$1.89B	$1.90B	$1.89B
Total assets	$3.41B	$3.59B	$3.74B	$4.01B	$4.47B	$6.08B	$6.22B	$6.66B	$7.00B	$7.07B	$7.48B	$8.83B
Total current liabilities	$761.54M	$1.40B	$766.11M	$1.50B	$1.68B	$1.34B	$1.30B	$1.35B	$1.47B	$1.21B	$1.40B	$1.43B
Short-term debt	$0	—	—	—	$680.29M	$278.92M	$279.25M	$279.56M	$80.55M	$0	$0	$0
Long-term debt	$677.11M	—	—	—	$0	$1.73B	$1.73B	$1.73B	$1.73B	$1.73B	$1.73B	$2.87B
Total debt	$677.11M	—	—	—	$680.29M	$2.01B	$2.01B	$2.01B	$1.81B	$1.73B	$1.73B	$2.87B
Total liabilities	$1.79B	$1.76B	$1.81B	$1.91B	$2.15B	$3.53B	$3.48B	$3.63B	$3.76B	$3.53B	$3.81B	$5.07B
Shareholders' equity	$1.62B	$1.82B	$1.93B	$2.10B	$2.33B	$2.56B	$2.73B	$3.03B	$3.24B	$3.53B	$3.67B	$3.76B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$140.04M	-$15.94M	$82.76M	$91.32M	$250.17M	$25.79M	-$91.70M	$60.01M	$217.24M	-$31.52M	$20.08M	$19.69M
Capital expenditures	$24.01M	$16.19M	$11.32M	$26.47M	$24.80M	$24.86M	$22.95M	$26.64M	$61.81M	$23.12M	$21.05M	$38.59M
Free cash flow	$116.03M	-$32.13M	$71.44M	$64.85M	$225.37M	$932.00K	-$114.66M	$33.38M	$155.43M	-$54.64M	-$972.00K	-$18.90M
Investing cash flow	$53.17M	-$174.04M	$82.14M	$43.07M	-$441.74M	-$702.22M	-$386.53M	$590.26M	-$226.44M	-$616.94M	$151.18M	-$152.53M
Financing cash flow	-$3.82M	-$2.71M	-$2.19M	-$7.71M	-$32.83M	$1.31B	-$4.37M	$159.16M	-$215.56M	-$92.29M	-$30.33M	$993.09M
Stock-based compensation	$35.13M	$75.11M	$74.82M	$101.78M	$130.89M	$140.24M	$139.24M	$146.15M	$208.60M	$134.70M	$144.00M	$156.37M
Depreciation & amortization	$6.47M	$7.36M	$10.39M	$13.00M	$17.68M	$19.45M	$17.16M	$19.61M	$26.95M	$30.36M	$32.46M	$33.23M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.