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Nasdaq · Industrials

AXON ENTERPRISE, INC. (AXON)

As-reported financials and recent SEC filings for AXON ENTERPRISE, INC., latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About AXON ENTERPRISE, INC.

Axon Enterprise, Inc. is a technology company that provides integrated hardware and software solutions primarily for public safety and justice system customers. Its products include cloud-based software-as-a-service platforms for digital evidence management, productivity, and real-time operations, as well as connected hardware devices such as TASER energy devices, body cameras, drones, and in-car video systems. Axon serves government agencies, commercial enterprises, and consumers with a focus on enhancing safety, transparency, and operational efficiency.

Snapshot

Revenue
$2.78B
Revenue growth (YoY)
33.5%
Net income
$124.7M
Diluted EPS
$1.51
Gross margin
59.7%
Operating margin
-2.2%
Net margin
4.5%
FCF margin
2.7%
ROE
3.8%
P/E (TTM)
213.6×
Market cap
$42.35B
Debt / equity
0.5×

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at Axon Enterprise

  • Revenue grew 33.5% to $2.8B in FY2025, in line with the 33.4% the year before.
  • Operating margin is -2.2% in FY2025, +17.2 pp against -19.5% in FY2021.
  • Most recent quarter Q1 FY2026: revenue $807M, up 33.7% from Q1 FY2025.
  • Free cash flow was $75M in FY2025, 2.7% of revenue.
  • Net income fell 66.9% to $125M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Axon Enterprise’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin59.7%
92nd percentile of 467
Operating margin-2.2%
24th percentile of 606
Net margin4.5%
55th percentile of 646
FCF margin2.7%
41st percentile of 561
Revenue growth (YoY)+33.5%
91st percentile of 669
ROE3.8%
41st percentile of 601
P/E (TTM)213.6×
97th percentile of 435
Debt / equity0.53×
54th percentile of 406
Short interest3.49d
45th percentile of 676

Axon Enterprise’s P/E of 213.6 ranks in the 97th percentile of the 435 peers with a meaningful P/E. Axon Enterprise’s gross margin of 59.7% ranks in the 92nd percentile of the 467 Industrials companies reporting it. Axon Enterprise’s revenue growth of +33.5% ranks in the 91st percentile of the 669 Industrials companies reporting it.

No open-market insider buys in the last 90 days; 61 insider sales totaling $33.4M. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 4 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
3
+4 quant / multi-strat
Initiated / added
4
1 new, 3 added
Reduced / exited
5
3 trimmed, 2 exited
Combined position
$887.4M
reported long value
InvestorAs ofPosition valueSharesChange
Sands Capital ManagementQ1 2026$664.4M1.6MReduced
Citadel AdvisorsquantQ1 2026$85.2M200.6KReduced
Altimeter Capital ManagementQ1 2026$63.3M149.0KNew
Millennium ManagementquantQ1 2026$52.9M124.6KAdded
AQR Capital ManagementquantQ1 2026$11.8M28.4KAdded
Gotham Asset ManagementQ1 2026$6.2M14.7KReduced
D. E. ShawquantQ1 2026$3.5M8.2KAdded

No longer held by: Coatue Management (as of Q1 2026), Two Sigma Investments (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
open-market
Bought (90d)
open-market value
Sells (90d)
61
$33.4M
Signal
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell1.8K$646.94$1.2M
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell1.3K$643.76$842K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell1.0K$642.73$672K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell931$649.02$604K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell772$640.41$494K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell744$644.76$480K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell500$647.97$324K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell379$641.66$243K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell371$638.12$237K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell366$639.41$234K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell274$650.20$178K
2026-07-07
filed 2026-07-09
SMITH PATRICK WCHIEF EXECUTIVE OFFICERSell251$631.35$158K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.7M
settled 2026-07-15
Change vs prior
-8.8%
vs previous settlement
Days to cover
3.49
at avg daily volume
Avg daily volume
1.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-153.7M-8.8%3.49
2026-06-304.1M+6.2%3.22
2026-06-153.8M+16.4%3.50
2026-05-293.3M-1.7%2.77
2026-05-153.4M-4.2%2.44
2026-04-303.5M+14.0%3.92
2026-04-153.1M+8.8%2.19
2026-03-312.8M+10.6%3.51

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$2.78B$2.08B$1.56B$1.19B$863.4M
Gross profit$1.66B$1.24B$955.5M$726.1M$540.9M
Operating income$-62.1M$58.5M$156.8M$93.0M$-168.1M
Net income$124.7M$377.0M$175.8M$146.9M$-60.0M
Diluted EPS$1.51$4.80$2.33$2.03$-0.91

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$1.20B$454.8M$598.5M$353.7M$356.3M
Current assets$3.71B$2.30B$2.39B$1.81B$1.11B
Total assets$7.00B$4.47B$3.41B$2.85B$1.69B
Current liabilities$1.47B$1.68B$761.5M$602.6M$418.5M
Long-term debt$1.73B$0$677.1M
Total liabilities$3.76B$2.15B$1.79B$1.58B$640.4M
Total equity$3.24B$2.33B$1.62B$1.27B$1.05B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$211.3M$408.3M$189.3M$235.4M$124.5M
Capital expenditure$136.3M$78.8M$59.6M$55.8M$49.9M
Free cash flow$75.1M$329.5M$129.6M$179.6M$74.6M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$807.3M33.7%$169.3M$2.05
Q4 FY2025$796.7M38.5%$2.7M$0.03
Q3 FY2025$710.6M30.6%$-2.2M$-0.03
Q2 FY2025$668.5M32.8%$36.1M$0.44
Q1 FY2025$603.6M31.3%$88.0M$1.08
Q4 FY2024$575.1M33.6%$135.2M$1.66
Q3 FY2024$544.3M31.7%$67.0M$0.86
Q2 FY2024$503.2M35.0%$41.5M$0.53

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorIndustrials
SIC industryOrdnance & Accessories, (No Vehicles/Guided Missiles)
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2015
SEC CIK1069183

Recent SEC filings

10-K2026-02-25
View on EDGAR →
10-K/A2025-05-07
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
10-Q2025-11-05
View on EDGAR →
10-Q2025-08-05
View on EDGAR →
10-Q2025-05-07
View on EDGAR →
8-K2026-07-10
View on EDGAR →
8-K2026-06-01
View on EDGAR →

Largest Industrials peers

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.