Axon Enterprise Inc., founded in 1993 and headquartered in Scottsdale, Arizona, United States, is a premier provider of public safety technology, including TASER devices, body cameras, and the Evidence.com digital evidence management platform. The company earns revenue through both hardware sales and recurring SaaS subscriptions, serving law enforcement agencies with integrated solutions. Led by CEO Rick Smith, Axon holds a strong market position and is investing in AI innovations and international growth to drive future performance.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
2,779,540
2,082,530
1,560,700
1,187,140
Cost of Sales
1,121,410
841,146
605,246
461,030
Gross Profit
1,658,130
1,241,380
955,453
726,113
Selling, General & Administrative Expenses
1,035,890
741,247
494,884
399,330
Research & Development Expenses
684,308
441,593
303,719
233,810
Operating Profit
(62,076)
58,540
156,850
92,973
Interest and Investment Income
75,431
36,595
42,112
4,294
Interest Expense
(94,238)
—
—
—
Non-Operating Income
99,857
286,369
(41,901)
98,971
Total Non-Operating Income
81,050
322,964
211
103,265
Income Before Provision for Income Taxes
18,974
381,504
157,061
196,238
Provision for Income Taxes
(105,682)
4,470
(18,722)
49,308
Consolidated Net Income
124,656
377,034
175,783
146,930
Net Income Attributable to Common Shareholders
124,656
377,034
175,783
146,930
Basic EPS
1.60
4.98
2.37
2.07
Diluted EPS
1.51
4.80
2.33
2.03
Basic Weighted Average Shares Outstanding
78,081
75,748
74,195
71,093
Diluted Weighted Average Shares Outstanding
82,370
78,558
75,456
72,534
Shares Outstanding
80,212
76,619
75,301
71,475
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
1,201,150
454,844
598,545
353,684
Short-Term Investments
532,630
531,505
721,994
621,009
Total Cash and Cash Equivalents
1,733,780
986,349
1,320,540
974,693
Accounts Receivable
777,486
547,572
412,961
358,190
Other Receivables
582,630
367,929
287,232
196,902
Total Trade Receivables
1,360,120
915,501
700,193
555,092
Inventories
341,811
265,316
269,855
202,471
Other Current Assets
277,348
130,315
103,055
73,022
Total Current Assets
3,713,050
2,297,480
2,393,640
1,805,280
Net Property, Plant & Equipment
330,979
247,324
200,533
169,843
Net Intangible Assets
196,972
175,157
19,539
12,158
Goodwill
1,370,190
756,838
57,945
44,983
Long-Term Investments
601,148
455,886
318,700
503,150
Other Long-Term Assets
787,973
541,902
418,815
316,482
Total Assets
7,000,310
4,474,590
3,409,170
2,851,890
Accounts Payable
139,086
71,955
65,852
59,918
Accrued Expenses
510,538
279,193
193,550
155,934
Current Portion of Long-Term Debt
80,552
680,289
—
—
Unearned Revenue
730,864
633,581
492,350
380,436
Other Current Liabilities
9,107
12,857
9,787
6,358
Total Current Liabilities
1,470,150
1,677,880
761,539
602,646
Long-Term Debt
1,730,170
—
677,113
673,967
Leases
98,942
41,383
33,550
37,143
Other Long-Term Liabilities
458,396
427,665
321,207
269,647
Total Long-Term Liabilities
2,287,510
469,048
1,031,870
980,757
Total Liabilities
3,757,660
2,146,920
1,793,410
1,583,400
Common Stock
1
1
1
1
Treasury Stock
(157,242)
(155,947)
(155,947)
(155,947)
Additional Paid-in Capital
2,475,040
1,689,780
1,347,410
1,174,590
Accumulated Other Comprehensive Income
(11,806)
(18,184)
(10,679)
(7,179)
Retained Earnings
936,670
812,014
434,980
257,022
Total Common Shareholders' Equity
3,242,660
2,327,670
1,615,770
1,268,490
Total Shareholders' Equity
3,242,660
2,327,670
1,615,770
1,268,490
Total Liabilities and Shareholders' Equity
7,000,310
4,474,590
3,409,170
2,851,890
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
124,656
377,034
175,783
146,930
Depreciation & Amortization
83,161
48,425
19,315
23,116
Share-Based Compensation Expense
634,231
382,604
131,358
106,176
Other Adjustments
(148,965)
(327,063)
(12,375)
(60,192)
Changes in Trade Receivables
(505,560)
(245,842)
(178,989)
(78,226)
Changes in Inventories
(81,951)
607
(77,626)
(95,011)
Changes in Accounts Payable
286,885
54,519
65,329
80,978
Changes in Unearned Revenue
83,476
155,641
146,819
155,566
Changes in Other Operating Activities
(264,594)
(37,613)
(80,351)
(43,976)
Cash from Operating Activities
211,339
408,312
189,263
235,361
Capital Expenditure
(136,258)
(78,785)
(59,635)
(55,802)
Purchases of Investments
(2,076,300)
(793,419)
(563,680)
(845,179)
Proceeds from Sale of Investments
2,134,560
1,003,390
657,418
72,138
Payments for Business Acquisitions
(646,875)
(621,817)
(21,090)
(2,104)
Other Investing Activities
(49)
54
(537)
(20)
Cash from Investing Activities
(724,930)
(490,573)
12,476
(830,967)
Issuance of Long-Term Debt
1,750,000
—
94,705
673,695
Repayments of Long-Term Debt
(608,890)
—
—
—
Net Issuance / (Repayments) of Long-Term Debt
1,141,110
—
94,705
673,695
Issuance of Common Shares
2,239,550
14,576
149,208
124,195
Repurchases of Common Shares
(350,981)
(58,178)
(107,894)
(4,870)
Net Issuance / (Repurchases) of Common Shares
1,888,570
(43,602)
41,314
119,325
Other Financing Activities
(27,218)
(1,835)
—
(194,994)
Cash from Financing Activities
1,252,470
(45,437)
41,314
598,100
Effect of Exchange Rate Changes on Cash and Cash Equivalents
7,756
(6,209)
2,065
(3,380)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash