Axon Enterprise Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Axon Enterprise Inc reported revenue of $2.8B (+33.5% year on year) and net income of $124.7M (-66.9% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales | $2.8B | $2.1B | $1.6B | $1.2B |
| Cost of sales | $1.1B | $841.1M | $608.0M | $461.3M |
| Gross margin | $1.7B | $1.2B | $955.4M | $728.6M |
| Selling, general and administrative | $1.0B | $741.2M | $496.9M | $401.6M |
| Research and development | $684.3M | $441.6M | $303.7M | $233.8M |
| Total operating expenses | $1.7B | $1.2B | $800.6M | $635.4M |
| Income (loss) from operations | ($62.1M) | $58.5M | $154.8M | $93.3M |
| Interest income | $75.4M | — | — | — |
| Interest expense | ($94.2M) | — | — | — |
| Other income (loss), net | $99.9M | $286.4M | ($41.9M) | — |
| Income before provision for income taxes | $19.0M | $381.5M | $155.0M | $196.5M |
| Provision for (benefit from) income taxes | ($105.7M) | $4.5M | ($19.2M) | $49.4M |
| Basic (in dollars per share) | $1.60 | $4.98 | $2.35 | $2.07 |
| Diluted (in dollars per share) | $1.51 | $4.80 | $2.31 | $2.03 |
| Basic (in shares) | 78.1M | 75.7M | 74.2M | 71.1M |
| Diluted (in shares) | 82.4M | 78.6M | 75.5M | 72.5M |
| Net income | $124.7M | $377.0M | $174.2M | $147.1M |
| Foreign currency translation adjustments | $6.3M | ($7.9M) | ($4.4M) | ($4.8M) |
| Unrealized gain on available-for-sale investments | $113.0K | $369.0K | $852.0K | ($1.0M) |
| Comprehensive income | $131.0M | $369.5M | $170.7M | $141.3M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales | $904.4M | $807.3M | $710.6M | $668.5M |
| Cost of sales | $357.9M | $330.1M | $283.3M | $264.8M |
| Gross margin | $546.4M | $477.3M | $427.3M | $403.7M |
| Selling, general and administrative | $291.0M | $259.1M | $252.8M | $242.2M |
| Research and development | $208.7M | $188.9M | $176.7M | $162.6M |
| Total operating expenses | $499.7M | $448.0M | $429.5M | $404.8M |
| Income (loss) from operations | $46.8M | $29.2M | ($2.1M) | ($1.0M) |
| Interest income | $6.8M | $10.6M | $23.9M | $23.3M |
| Interest expense | ($28.1M) | ($28.6M) | ($28.9M) | ($28.7M) |
| Other income (loss), net | $7.2M | $189.0M | $22.8M | ($32.4M) |
| Income (loss) before provision for income taxes | $32.7M | $200.2M | $15.7M | ($38.9M) |
| Provision for (benefit from) income taxes | $3.3M | $30.9M | $17.9M | ($75.0M) |
| Basic (in dollars per share) | $0.37 | $2.11 | -$0.03 | $0.46 |
| Diluted (in dollars per share) | $0.36 | $2.05 | -$0.03 | $0.44 |
| Basic (in shares) | 80.6M | 80.2M | 78.4M | 78.0M |
| Diluted (in shares) | 82.5M | 82.5M | 78.4M | 82.1M |
| Net income | $29.4M | $169.3M | ($2.2M) | $36.1M |
| Foreign currency translation adjustments | ($5.1M) | $647.0K | ($25.0K) | $5.2M |
| Unrealized gain (loss) on available-for-sale investments | $0 | ($111.0K) | $213.0K | $73.0K |
| Comprehensive income | $24.3M | $169.8M | ($2.0M) | $41.3M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.2B | $454.8M | $598.5M | $353.7M |
| Short-term investments | $505.4M | $333.2M | $644.1M | $581.8M |
| Marketable securities | $27.2M | $198.3M | $77.9M | $39.2M |
| Accounts and notes receivable, net of allowance of $4,198 and $3,322 as of December 31, 2025 and December 31, 2024, respectively | $777.5M | $547.6M | $417.7M | $358.2M |
| Contract assets, net | $582.6M | $367.9M | $275.8M | $196.9M |
| Inventory | $341.8M | $265.3M | $269.9M | $202.5M |
| Prepaid expenses and other current assets | $277.3M | $130.3M | $112.8M | $73.0M |
| Total current assets | $3.7B | $2.3B | $2.4B | $1.8B |
| Property and equipment, net | $331.0M | $247.3M | $200.5M | $169.8M |
| Deferred tax assets, net | $359.8M | $304.3M | $229.5M | $156.9M |
| Intangible assets, net | $197.0M | $175.2M | $19.5M | $12.2M |
| Goodwill | $1.4B | $756.8M | $57.9M | $45.0M |
| Long-term notes receivable, net | $6.1M | $3.5M | $2.6M | $5.2M |
| Long-term contract assets, net | $178.2M | $119.9M | $77.7M | $45.2M |
| Strategic investments | $416.8M | $332.6M | $231.7M | $296.6M |
| Other long-term assets | $428.2M | $237.6M | $220.6M | $159.6M |
| Total assets | $7.0B | $4.5B | $3.4B | $2.9B |
| Accounts payable | $139.1M | $72.0M | $88.3M | $59.9M |
| Accrued liabilities | $510.5M | $279.2M | $188.2M | $155.9M |
| Current portion of deferred revenue | $714.7M | $613.0M | $491.7M | $360.0M |
| Current portion of notes payable, net | $80.6M | — | — | — |
| Customer deposits | $16.2M | $20.6M | $21.9M | $20.4M |
| Other current liabilities | $9.1M | $12.9M | $9.8M | $6.4M |
| Total current liabilities | $1.5B | $997.6M | $800.0M | $602.6M |
| Deferred revenue, net of current portion | $359.9M | $360.7M | $281.9M | $248.0M |
| Liability for unrecognized tax benefits | $24.4M | $25.0M | $18.0M | $10.7M |
| Long-term deferred compensation | $23.7M | $15.9M | $11.3M | $6.3M |
| Long-term lease liabilities | $98.9M | $41.4M | $33.5M | $37.1M |
| Long-term notes payable, net | $1.7B | — | — | — |
| Other long-term liabilities | $50.4M | $26.1M | $2.9M | $4.6M |
| Total liabilities | $3.8B | $2.1B | $1.8B | $1.6B |
| Preferred stock, $0.00001 par value; 25,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 0 | 0 | — | — |
| Common stock, $0.00001 par value; 200,000,000 shares authorized, 100,444,971 shares issued and 80,211,537 shares outstanding as of December 31, 2025, and 200,000,000 shares authorized, 96,839,558 shares issued and 76,619,331 shares outstanding as of December 31, 2024 | 1.0K | 1.0K | 1.0K | 1.0K |
| Additional paid-in capital | $2.5B | $1.7B | $1.3B | $1.2B |
| Treasury stock at cost, 20,233,434 and 20,220,227 shares as of December 31, 2025 and December 31, 2024, respectively | -157.2M | -155.9M | — | — |
| Retained earnings | $936.7M | $812.0M | $431.2M | $257.0M |
| Accumulated other comprehensive loss | ($11.8M) | ($18.2M) | ($10.7M) | ($7.2M) |
| Total stockholders’ equity | $3.2B | $2.3B | $1.6B | $1.3B |
| Total liabilities and stockholders’ equity | $7.0B | $4.5B | $3.4B | $2.9B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $597.7M | $458.9M | $1.4B | $615.5M |
| Short-term investments | $75.7M | $260.0M | $952.8M | $1.5B |
| Marketable securities | $19.1M | $18.1M | $68.2M | $144.0M |
| Accounts and notes receivable, net of allowance of $4,949 and $4,198 as of June 30, 2026 and December 31, 2025, respectively | $768.6M | $674.6M | $700.7M | $628.0M |
| Contract assets, net | $751.0M | $641.6M | $537.2M | $463.4M |
| Inventory | $486.6M | $408.0M | $317.5M | $308.5M |
| Prepaid expenses | $190.7M | $178.6M | — | — |
| Other current assets | $115.3M | $104.3M | — | — |
| Total current assets | $3.0B | $2.7B | $4.2B | $3.8B |
| Property and equipment, net | $341.5M | $336.4M | $283.2M | $271.2M |
| Deferred tax assets, net | $345.5M | $339.5M | $344.8M | $357.4M |
| Intangible assets, net | $281.6M | $295.1M | $159.0M | $162.6M |
| Goodwill | $1.9B | $1.9B | $773.4M | $762.2M |
| Long-term notes receivable, net | $1.6M | $1.9M | $2.9M | $1.6M |
| Long-term contract assets, net | $296.5M | $195.7M | $164.0M | $161.9M |
| Strategic investments | $853.8M | $838.2M | $386.9M | $403.5M |
| Other long-term assets | $457.1M | $421.4M | $326.4M | $266.4M |
| Total assets | $7.5B | $7.1B | $6.7B | $6.2B |
| Accounts payable | $270.0M | $175.1M | $115.0M | $118.1M |
| Accrued liabilities | $423.9M | $312.4M | $293.3M | $265.8M |
| Current portion of deferred revenue | $670.7M | $690.4M | $639.1M | $603.4M |
| Current portion of notes payable, net | $0 | $0 | $279.6M | $279.2M |
| Customer deposits | $16.5M | $18.1M | $15.0M | $19.4M |
| Other current liabilities | $17.1M | $12.2M | $7.7M | $11.1M |
| Total current liabilities | $1.4B | $1.2B | $1.3B | $1.3B |
| Deferred revenue, net of current portion | $385.7M | $362.2M | $364.5M | $329.0M |
| Liability for unrecognized tax benefits | $26.6M | $27.2M | $22.4M | $32.1M |
| Long-term deferred compensation | $33.1M | $29.3M | $22.7M | $20.5M |
| Long-term lease liabilities | $101.7M | $97.2M | $90.2M | $43.6M |
| Long-term notes payable, net | $1.7B | $1.7B | $1.7B | $1.7B |
| Other long-term liabilities | $129.6M | $77.5M | $50.8M | $31.9M |
| Total liabilities | $3.8B | $3.5B | $3.6B | $3.5B |
| Preferred stock, $0.00001 par value; 25,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 0 | 0 | 0 | 0 |
| Common stock, $0.00001 par value; 200,000,000 shares authorized, 101,510,494 shares issued and 81,235,921 shares outstanding as of June 30, 2026, and 200,000,000 shares authorized, 100,444,971 shares issued and 80,211,537 shares outstanding as of December 31, 2025 | 1.0K | 1.0K | 1.0K | 1.0K |
| Additional paid-in capital | $2.7B | $2.6B | $2.3B | $2.0B |
| Treasury stock at cost, 20,274,573 shares and 20,233,434 shares as of June 30, 2026 and December 31, 2025, respectively | -180.2M | -180.2M | -156.0M | -155.9M |
| Retained earnings | $1.1B | $1.1B | $933.9M | $936.1M |
| Accumulated other comprehensive loss | ($16.4M) | ($11.3M) | ($12.5M) | ($12.7M) |
| Total stockholders’ equity | $3.7B | $3.5B | $3.0B | $2.7B |
| Total liabilities and stockholders’ equity | $7.5B | $7.1B | $6.7B | $6.2B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $124.7M | $377.0M | — | — |
| Stock-based compensation | $634.2M | $382.6M | $131.4M | $106.2M |
| (Gain) loss on strategic investments and marketable securities, net | ($140.0M) | ($283.2M) | $41.8M | ($98.9M) |
| Debt inducement expense | $38.9M | — | — | — |
| Depreciation and amortization | $83.2M | $48.4M | $32.6M | $24.4M |
| Provision for bad debts and inventory | $11.3M | $20.1M | — | — |
| Deferred income taxes | ($82.7M) | ($85.1M) | ($73.0M) | $22.1M |
| Other noncash items | $23.5M | $21.2M | $2.3M | — |
| Receivables and contract assets | ($505.6M) | ($245.8M) | ($172.5M) | ($73.2M) |
| Inventory | ($82.0M) | $607.0K | ($71.9M) | ($96.0M) |
| Deferred revenue | $83.5M | $155.6M | $164.0M | $159.7M |
| Accounts payable, accrued and other liabilities | $286.9M | $54.5M | $64.4M | $80.8M |
| Prepaid expenses and other assets | ($264.6M) | ($37.6M) | ($102.4M) | ($52.2M) |
| Net cash provided by operating activities | $211.3M | $408.3M | $189.3M | $235.4M |
| Purchases of investments | ($2.1B) | ($793.4M) | ($546.0M) | ($764.4M) |
| Business combinations, net of cash acquired | ($646.9M) | ($621.8M) | ($21.1M) | ($2.1M) |
| Proceeds from call, maturity, and sale of investments | $2.1B | $1.0B | $657.4M | $72.1M |
| Purchases of property and equipment | ($136.3M) | ($78.8M) | ($59.6M) | ($55.8M) |
| Other, net | ($49.0K) | $54.0K | — | — |
| Net cash provided by (used in) investing activities | ($724.9M) | ($490.6M) | $12.5M | ($831.0M) |
| Net proceeds from equity offering | $489.6M | $0 | $94.7M | ($74.0K) |
| Proceeds from issuance of notes | $1.8B | — | — | — |
| Proceeds from options exercised | $0 | $14.6M | $54.5M | — |
| Principal payments for conversion of convertible debt | ($608.9M) | — | — | — |
| Payments to third parties for debt issuance, amendment and repurchase activity | ($27.0M) | — | — | — |
| Income and payroll tax payments for net-settled stock awards | ($351.0M) | ($58.2M) | ($107.9M) | ($4.9M) |
| Other, net | ($224.0K) | ($1.8M) | — | — |
| Net cash provided by (used in) financing activities | $1.3B | ($45.4M) | $41.3M | $598.1M |
| Effect of exchange rate changes on cash and cash equivalents | $7.8M | ($6.2M) | $2.1M | ($3.4M) |
| Net increase (decrease) in cash and cash equivalents | $746.6M | ($133.9M) | $245.1M | ($886.0K) |
| Cash and cash equivalents and restricted cash, beginning of period | $466.8M | $600.7M | $355.6M | $356.4M |
| Cash and cash equivalents and restricted cash, end of period | $1.2B | $466.8M | $600.7M | $355.6M |
| Cash and cash equivalents | $1.2B | $454.8M | — | — |
| Restricted cash (Note 1) | $12.2M | $11.9M | — | — |
| Total cash, cash equivalents and restricted cash shown in the statements of cash flows | $1.2B | $466.8M | — | — |
| Cash paid for interest | $57.2M | $3.5M | — | — |
| Cash paid for income taxes, net of refunds | $51.1M | $67.8M | — | — |
| Leased assets obtained in exchange for new operating lease liabilities | $62.8M | — | — | — |
| Expense for induced conversion of convertible debt, debt offering and revolver modification | $43.5M | — | — | — |
| Property and equipment purchases in accounts payable and accrued liabilities | $7.3M | $5.2M | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $198.7M | $169.3M | $121.9M | $124.1M |
| Stock-based compensation | $278.7M | $134.7M | $425.6M | $279.5M |
| Gain on strategic investments and marketable securities, net | ($197.9M) | ($191.1M) | ($134.6M) | ($111.8M) |
| Debt inducement expense | $0 | $0 | $28.6M | $28.7M |
| Depreciation and amortization | $62.8M | $30.4M | $56.2M | $36.6M |
| Provision for bad debts and inventory | $2.6M | $2.0M | $8.8M | $6.3M |
| Deferred income taxes | $11.5M | $18.0M | ($53.7M) | ($70.1M) |
| Other noncash items | $18.5M | $11.7M | $15.9M | $19.3M |
| Receivables and contract assets | ($256.9M) | $48.9M | ($366.1M) | ($212.8M) |
| Inventory | ($145.1M) | ($64.7M) | ($58.2M) | ($48.1M) |
| Deferred revenue | ($35.3M) | ($40.3M) | $21.6M | ($51.1M) |
| Accounts payable, accrued and other liabilities | $105.5M | ($151.0M) | $44.7M | $21.2M |
| Prepaid expenses and other assets | ($54.6M) | $656.0K | ($116.7M) | ($87.6M) |
| Net cash used in operating activities | ($11.4M) | ($31.5M) | ($5.9M) | ($65.9M) |
| Purchases of investments | ($302.8M) | ($292.0M) | ($2.0B) | ($1.8B) |
| Business combinations, net of cash acquired | ($551.6M) | ($549.7M) | ($22.8M) | ($3.8M) |
| Proceeds from call, maturity, and sale of investments | $434.3M | $249.3M | $1.6B | $756.7M |
| Purchases of property and equipment | ($44.2M) | ($23.1M) | ($74.5M) | ($47.8M) |
| Other, net | ($1.5M) | ($1.5M) | ($49.0K) | $83.0K |
| Net cash used in investing activities | ($465.8M) | ($616.9M) | ($498.5M) | ($1.1B) |
| Net proceeds from equity offering | $100.5M | — | $362.2M | $184.0M |
| Principal payments for conversion and redemption of convertible debt | ($81.1M) | ($81.1M) | ($407.5M) | ($407.5M) |
| Income and payroll tax payments for net-settled stock awards | ($140.2M) | ($10.2M) | ($209.6M) | ($192.8M) |
| Payments to third parties for debt issuance, amendment, conversion and redemption activity | ($964.0K) | ($964.0K) | ($26.9M) | ($24.7M) |
| Proceeds from issuance of notes | $0 | $0 | $1.8B | $1.8B |
| Other, net | ($829.0K) | ($4.0K) | ($226.0K) | ($76.0K) |
| Net cash (used in) provided by financing activities | ($122.6M) | ($92.3M) | $1.5B | $1.3B |
| Effect of exchange rate changes on cash and cash equivalents | ($3.9M) | ($1.5M) | $5.7M | $6.5M |
| Net change in cash and cash equivalents | ($603.8M) | ($742.2M) | $969.4M | $160.7M |
| Cash and cash equivalents and restricted cash, beginning of period | $1.2B | $1.2B | $466.8M | $466.8M |
| Cash and cash equivalents and restricted cash, end of period | $609.6M | $471.2M | $1.4B | $627.5M |
| Cash and cash equivalents | $597.7M | $458.9M | $1.4B | $615.5M |
| Restricted cash | $11.9M | $12.2M | $12.3M | $12.0M |
| Total cash, cash equivalents and restricted cash shown in the statements of cash flows | $609.6M | $471.2M | $1.4B | $627.5M |
| Cash paid for interest | $54.1M | $54.1M | $56.5M | — |
| Leased assets obtained in exchange for new operating lease liabilities | $8.5M | — | $51.8M | $5.6M |
| Property and equipment purchases in accounts payable and accrued liabilities | $8.1M | $6.0M | $3.4M | $3.1M |
| Expense for induced conversion of convertible debt, debt offering and revolver modification | $0 | $0 | $31.6M | $33.7M |
Axon Enterprise Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.