AXON ENTERPRISE, INC. AXON

Industrials SIC 3480 - Ordnance & Accessories, (No Vehicles/Guided Missiles) NAICS Manufacturing › Fabricated Metal Product Manufacturing › Other Fabricated Metal Product Manufacturing › All Other Fabricated Metal Product Manufacturing derived Nasdaq

Axon Enterprise, Inc. ("Axon," the "Company," "we" or "us") is a technology company that provides integrated hardware and software solutions. Founder-led since 1993, Axon began with a mission to protect life and has grown into a global technology company serving a range of customers. Our products and services allow customers across the public and private sector to capture and use critical data to support fully-connected operational workflows. Our trusted network seamlessly integrates software and hardware with a range of connected devices, including TASER energy devices, cameras and sensors, drones and robotics, cloud-based evidence management, records management, real-time operations software, critical incident and emergency response systems, immersive training, and productivity tools – all enhanced by artificial intelligence ("AI"). Designed to work together, these solutions create a unified, data-driven operating system that prioritizes safety and helps protect people and places with greater speed, accuracy, transparency, and accountability.

Last close 420.37 2026-10-23
Market cap $34.15B 2026-06-30 share count
52-week range 339.01 - 764.02

Valuation FY2025 figures against the last close

P/S12.3x
P/E278.4x
P/FCF454.8x
EV/EBITDA1,624.6x
Dividend yield—
Diluted EPS1.51

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other countries
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 2.3B (82.9%) 83% United States Other countries, FY2025: 474.5M (17.1%) 17% Other countries FY2024 United States, FY2024: 1.8B (85.2%) 85% Other countries, FY2024: 307.3M (14.8%) 15% FY2023 United States, FY2023: 1.3B (85.6%) 86% Other countries, FY2023: 225.2M (14.4%) 14%
Region FY2025FY2024FY2023
United States $2.31B $1.78B $1.34B
Other countries $474.5M $307.3M $225.2M

As the company reported it, from the “Revenues - Revenues by Geographic Area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.78B$2.08B$1.56B$1.19B$863.4M$681.0M$530.9M$420.1M$343.8M$268.2M
Cost of revenue $1.12B$841.1M$605.2M$461.0M$322.5M$264.7M$223.6M$161.5M$136.7M$97.7M
Gross profit $1.66B$1.24B$955.5M$726.1M$540.9M$416.3M$307.3M$258.6M$207.1M$170.5M
R&D $684.3M$441.6M$303.7M$233.8M$194.0M$123.2M$100.7M$76.9M$55.4M$30.6M
SG&A $1.04B$741.2M$494.9M$399.3M$515.0M$307.3M$213.0M$156.9M$138.7M$108.1M
Total operating expenses $1.72B$1.18B$798.6M$633.1M$709.0M$430.5M$313.7M$233.7M$194.1M$138.7M
Operating income -$62.1M$58.5M$156.8M$93.0M-$168.1M-$14.2M-$6.4M$24.8M$13.0M$31.9M
Interest expense $94.2M$7.1M$7.0M———————
Pre-tax income $19.0M$381.5M$157.1M$196.2M-$141.4M-$6.3M$2.1M$28.1M$15.8M$31.5M
Income tax $105.7M$4.5M$18.7M$49.3M$81.4M$4.6M$1.2M$1.1M$10.6M$14.2M
Net income $124.7M$377.0M$175.8M$146.9M-$56.3M-$1.7M$882.0K$29.2M$5.2M$17.3M
EPS, basic 1.604.982.372.07-0.91-0.030.010.520.100.33
EPS, diluted 1.514.802.332.03-0.91-0.030.010.500.100.32
Shares, diluted (wtd. avg.) 82.4M78.6M75.5M72.5M66.2M61.8M60.0M57.9M53.9M53.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.20B$454.8M$598.5M$355.6M$356.4M$155.6M$172.4M$351.0M$78.4M$44.0M
Short-term investments $505.4M$333.2M$644.1M$581.8M$14.5M$406.5M$178.5M$0$6.9M$48.4M
Inventory $341.8M$265.3M$269.9M$202.5M$108.7M$90.0M$38.8M$33.8M$45.5M$34.8M
Total current assets $3.71B$2.30B$2.39B$1.81B$1.11B$982.0M$609.5M$558.2M$205.2M$177.2M
Property, plant and equipment $331.0M$247.3M$200.5M$169.8M$138.5M$105.5M$43.8M$37.9M$31.2M$24.0M
Goodwill $1.37B$756.8M$57.9M$45.0M$43.6M$25.2M$25.0M$25.0M$14.9M$10.4M
Other intangibles $197.0M$175.2M$19.5M$12.2M$15.5M$9.4M$12.8M$15.9M$18.8M$15.2M
Total assets $7.00B$4.47B$3.41B$2.85B$1.69B$1.38B$845.6M$719.5M$338.1M$278.2M
Accounts payable $139.1M$72.0M$65.9M$59.9M$32.2M$24.1M$25.9M$15.2M$8.6M$10.7M
Short-term debt $80.6M$680.3M$0———————
Total current liabilities $1.47B$1.68B$761.5M$602.6M$418.5M$256.3M$195.6M$166.0M$108.0M$78.0M
Long-term debt $1.73B$0$677.1M———————
Total liabilities $3.76B$2.15B$1.79B$1.58B$640.4M$404.8M$302.1M$252.2M$170.7M$127.3M
Retained earnings $936.7M$812.0M$435.0M$257.0M$109.9M$169.9M$172.3M$171.4M$123.2M$118.3M
Total equity $3.24B$2.33B$1.62B$1.27B$1.05B$976.3M$543.5M$467.3M$167.4M$150.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $211.3M$408.3M$189.3M$235.4M$124.5M$38.5M$65.7M$63.9M$18.5M$21.1M
Depreciation and amortisation $83.2M$48.4M$19.3M$23.1M$18.7M$12.5M$11.4M$10.6M$8.0M$3.7M
Stock-based compensation $634.2M$382.6M$131.4M$106.2M$303.3M$133.6M$78.5M$21.9M$15.6M$9.4M
Capital expenditure $136.3M$78.8M$59.6M$55.8M$49.9M$72.6M$15.9M$11.1M$10.4M$5.0M
Investing cash flow -$724.9M-$490.6M$12.5M-$831.0M$252.6M-$356.5M-$240.7M-$9.9M$19.1M-$3.0M
Financing cash flow $1.25B-$45.4M$41.3M$598.1M-$174.2M$299.3M-$3.9M$219.3M-$3.8M-$34.6M
Buybacks ———————$0$0$33.7M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-025521.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 268.2M Gross profit, FY2016: 170.5M Net income, FY2016: 17.3M Revenue, FY2017: 343.8M Gross profit, FY2017: 207.1M Net income, FY2017: 5.2M Revenue, FY2018: 420.1M Gross profit, FY2018: 258.6M Net income, FY2018: 29.2M Revenue, FY2019: 530.9M Gross profit, FY2019: 307.3M Net income, FY2019: 882K Revenue, FY2020: 681M Gross profit, FY2020: 416.3M Net income, FY2020: -1.7M Revenue, FY2021: 863.4M Gross profit, FY2021: 540.9M Net income, FY2021: -56.3M Revenue, FY2022: 1.2B Gross profit, FY2022: 726.1M Net income, FY2022: 146.9M Revenue, FY2023: 1.6B Gross profit, FY2023: 955.5M Net income, FY2023: 175.8M Revenue, FY2024: 2.1B Gross profit, FY2024: 1.2B Net income, FY2024: 377M Revenue, FY2025: 2.8B Gross profit, FY2025: 1.7B Net income, FY2025: 124.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $268.2M $343.8M $420.1M $530.9M $681.0M $863.4M $1.19B $1.56B $2.08B $2.78B
Gross profit $170.5M $207.1M $258.6M $307.3M $416.3M $540.9M $726.1M $955.5M $1.24B $1.66B
Net income $17.3M $5.2M $29.2M $882.0K -$1.7M -$56.3M $146.9M $175.8M $377.0M $124.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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