AXON

Axon Enterprise
D

AXON

Arincen51/100B

Axon Enterprise financials

Yes. Axon Enterprise earned 258.49M USD of net income over the last twelve months, 7.6% of its revenue. It made a profit in 19 of its 26 fiscal years since 2000. Its last loss was in fiscal year 2021.

Revenue (TTM)
3.42B USD
Net income (TTM)
258.49M USD
Free cash flow (TTM)
80.91M USD
Cash and short-term investments
1.66B USD
Total debt
2.97B USD
Shareholders' equity
3.76B USD

Cash, debt and equity as of 30 Sept 2026.

Axon Enterprise earnings

Next earnings · Q4 FY2026
EPS estimate
1.98 USD
Revenue estimate
1.00B USD
Last quarter · Q3 FY2026
EPS1.72Missed -9.0%Revenue908.55MMissed -2.8%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20272.43——+41.10%1.16B——+27.64%
Q2 FY20272.20——+17.12%1.13B——+25.31%
Q1 FY20271.93——+19.96%1.02B——+26.10%
Q4 FY20261.98——-7.91%1.00B——+26.14%
Q3 FY20261.891.72-8.99%+47.01%934.33M908.55M-2.76%+27.85%
Q2 FY20261.841.88+2.17%-11.32%876.42M904.39M+3.19%+35.28%
Q1 FY20261.601.61+0.63%+14.18%780.66M807.35M+3.42%+33.75%
Q4 FY20251.602.15+34.37%+3.37%755.56M796.72M+5.45%+38.53%
Q3 FY20251.521.17-23.03%-19.31%704.84M710.64M+0.82%+30.57%
Q2 FY20251.452.12+46.21%+76.67%641.02M668.54M+4.29%+32.62%

Axon Enterprise growth and profitability

Full income statement
Revenue (TTM)
3.42B USD
Net income (TTM)
258.49M USD
Gross margin
58.53%
Operating margin
1.99%
Net margin
7.56%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY20252.78B+33.47%124.91M-66.87%59.65%-2.23%4.49%196.37M-55.07%
FY20242.08B+33.44%377.03M+114.49%59.61%2.81%18.10%437.03M+138.33%
FY20231.56B+31.16%175.78M+19.47%61.22%10.05%11.26%183.37M-16.99%
FY20221.19B+37.82%147.14M—61.23%7.84%12.37%220.90M—
FY2021863.38M+26.78%-60.02M—61.51%-18.90%-6.95%-122.68M-2,052.28%

Axon Enterprise revenue breakdown

By product

FY2025
Software And Sensors: 43.3%TASER X2: 32.9%Axon Body: 14.3%Platform Solutions: 9.6%43.3%Software And Sensors32.9%TASER X214.3%Axon Body9.6%Platform Solutions
SegmentRevenueShare of revenueChange on the year
Software And Sensors1.20B43.3%+26.5%
TASER X2913.88M32.9%—
Axon Body397.04M14.3%—
Platform Solutions265.95M9.6%—

By region

FY2025
United States: 82.9%Non-US: 17.1%82.9%United States17.1%Non-US
RegionRevenueShare of revenueChange on the year
United States2.31B82.9%+29.8%
Non-US474.52M17.1%+54.4%

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY2025211.34M75.08M
FY2024408.31M329.53M
FY2023189.26M129.63M
FY2022235.36M179.25M
FY2021124.49M74.22M
FY202038.48M-34.39M
FY201965.67M49.33M
FY201863.88M52.18M
FY201718.49M7.05M
FY201617.93M9.47M

Axon Enterprise financial health

Full balance sheet
Cash and short-term investments
1.66B USD
Total debt
2.97B USD
Net cash
-1.31B USD
Free cash flow (TTM)
80.91M USD
Current ratio
3.00
Debt to equity
0.79
Piotroski score
4 / 9
Altman Z-score
4.78

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20251.71B1.91B75.08M
FY2024986.35M1.40B329.53M
FY20231.32B710.66M129.63M
FY2022974.69M711.11M179.25M
FY2021443.02M20.44M74.22M

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY20257.00B3.76B3.24B
FY20244.47B2.15B2.33B
FY20233.41B1.79B1.61B
FY20222.85B1.58B1.27B
FY20211.69B640.36M1.05B
FY20201.38B404.77M976.26M
FY2019845.64M302.14M543.50M
FY2018719.54M252.22M467.32M
FY2017338.11M170.67M167.44M
FY2016278.16M127.28M150.89M

Axon Enterprise valuation

Price to earnings ratio (TTM)
94.59
Forward P/E (FY2026)
42.23
Price to sales (TTM)
7.24
Price to book
6.57
EV / EBITDA (TTM)
57.19

Capital structure

Market capitalization
24.72B USD
+
Total debt
2.97B USD
−
Cash and short-term investments
1.66B USD
=
Enterprise value
26.04B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)24.03————
FY2027 (est.)32.1624.03———
FY2026 (est.)42.2332.16———
Now (TTM)94.5933.207.246.5757.19
FY2025354.9679.0216.4314.08236.13
FY2024119.3450.3021.6219.34105.18
FY2023109.0050.3012.2811.89105.14
FY202280.1643.019.919.3055.02
FY2021-172.5378.5312.049.92-81.97

Axon Enterprise against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Rocket Lab USA, HEICO, Honeywell Aerospace, L3Harris Technologies, Woodward, and FTAI Aviation, the US Aerospace & Defense companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Below its median94.6
    54.8359.4
  • Gross marginBelow its median59.7%
    59.6%61.5%
    Against its peers: 1 of 7Peers' median 32.8%
  • Operating marginBelow its median-2.2%
    -18.9%10.0%
    Against its peers: 6 of 7Peers' median 16.5%
  • Net marginBelow its median4.5%
    -7.0%18.1%
    Against its peers: 6 of 7Peers' median 11.3%
  • Return on equityBelow its median3.9%
    -5.7%16.2%
    Against its peers: 6 of 7Peers' median 16.6%
  • Free cash flow marginLowest in 5 years2.7%
    2.7%15.8%
    Against its peers: 5 of 7Peers' median 10.9%
  • Revenue growthAbove its median33.5%
    26.8%37.8%
    Against its peers: 3 of 7Peers' median 14.5%
  • EPS growthLowest in 5 years-68.5%
    -68.5%106.0%
    Against its peers: 5 of 5Peers' median 14.0%
  • Debt to EBITDAHighest in 5 years9.72×
    3.21×9.72×
    Against its peers: 6 of 6Peers' median 1.80×
  • Current ratioBelow its median2.53
    1.373.14
    Against its peers: 4 of 7Peers' median 2.45

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Axon Enterprise ownership

Institutions
91.06%
Institutional holders
1,192 (+83)
Free float
93.93%

Who owns the shares

Institutions 91.1% Others 8.9%
As of 30 Jun 2026

Shares free to trade

Free float 76.49M shares ·93.9% Closely held 4.94M shares ·6.1%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 2026000.005.85K
Q3 20260121405.24K90.17K
Q2 20260344.94K54.84K
Q1 20260700.0077.05K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY202580.40M82.37M+4.85%
FY202475.75M78.56M+4.11%
FY202374.20M75.46M+4.03%
FY202271.09M72.53M+9.58%
FY202166.19M66.19M+7.14%

Common questions about Axon Enterprise's financials

Source: Financial Modeling Prep