AXON ENTERPRISE, INC.

AXON 10-Q · Q3 2025

AXON Q3 2025 request

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Income Statement

Income Statement
Metric Q3 2025 Q3 2024 YoY
Revenue (Q) — — —
Show Product Lines breakouts
Personal Sensors 106,677 88,660 +20.3%
Personal Sensors · Connected Devices 106,677 88,660 +20.3%
Platform Solutions 60,772 35,628 +70.6%
Platform Solutions · Connected Devices 60,772 35,628 +70.6%
Product 405,399 327,900 +23.6%
Service 305,242 216,374 +41.1%
Software and Services 305,242 216,374 +41.1%
Software and Services · Software and Services 305,242 216,374 +41.1%
TASER 237,950 203,612 +16.9%
TASER · Connected Devices 237,950 203,612 +16.9%
Show Business Segments breakouts
Connected Devices 405,399 327,900 +23.6%
Connected Devices · Operating Segments 405,399 327,900 +23.6%
Software and Services 305,242 216,374 +41.1%
Software and Services · Operating Segments 305,242 216,374 +41.1%
Show Geography breakouts
Non Us 116,702 61,678 +89.2%
US 593,939 482,596 +23.1%
Show — breakouts
Revenue 710,641 544,274 +30.6%
Show Consolidation Items breakouts
Operating Segments 710,641 544,274 +30.6%
Cost of Revenue (Q) — — —
Show Product Lines breakouts
Product 203,173 156,167 +30.1%
Service 80,120 57,360 +39.7%
Show Business Segments breakouts
Connected Devices · Operating Segments 203,173 156,167 +30.1%
Software and Services · Operating Segments 80,120 57,360 +39.7%
Show — breakouts
Cost of Revenue 283,293 213,527 +32.7%
Show Consolidation Items breakouts
Operating Segments 283,293 213,527 +32.7%
Gross Profit (Q) — — —
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Gross Profit 427,348 330,747 +29.2%
Selling, General & Administrative (Q) — — —
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Selling, General & Administrative 252,803 192,189 +31.5%
Research & Development (Q) — — —
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Research & Development 176,674 114,477 +54.3%
Operating Expenses (Q) — — —
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Operating Expenses 429,477 306,666 +40.0%
Operating Income (Q) — — —
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Operating Income -2,129 24,081 -108.8%
Interest Income (Q) — — —
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Interest Income 23,941 12,624 +89.6%
Interest Expense (Q) — — —
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Interest Expense -28,912 -1,646 -1656.5%
Other Non-Operating Income (Expense) (Q) — — —
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Other Non-Operating Income (Expense) 22,803 44,510 -48.8%
Income Before Taxes (Q) — — —
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Income Before Taxes 15,703 79,569 -80.3%
Income Tax Expense (Benefit) (Q) — — —
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Income Tax Expense (Benefit) 17,889 12,544 +42.6%
Net Income (Q) — — —
Show Equity Components breakouts
Retained Earnings -2,186 67,025 -103.3%
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Net Income -2,186 67,025 -103.3%
EPS (Basic) (Q) — — —
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EPS (Basic) -0.03 0.89 -103.4%
EPS (Diluted) (Q) — — —
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EPS (Diluted) -0.03 0.86 -103.5%
Wtd Avg Shares (Basic) (Q) — — —
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Wtd Avg Shares (Basic) 78,416 75,697 +3.6%
Wtd Avg Shares (Diluted) (Q) — — —
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Wtd Avg Shares (Diluted) 78,416 78,080 +0.4%
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax (Q) — — —
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Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax -25 4,640 -100.5%
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent (Q) — — —
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Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent 213 434 -50.9%
Comprehensive Income (Q) — — —
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Comprehensive Income -1,998 72,099 -102.8%
Interest Expense (Q) — — —
Show Derivative Risk breakouts
2027 Note Hedge · Convertible Debt 686 1,665 -58.8%

Balance Sheet

Balance Sheet
Metric Q3 2025 Q3 2024 YoY
Current Assets
Cash & Cash Equivalents (Q) — — —
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Cash & Cash Equivalents 1,423,871 695,144 +104.8%
Short-Term Investments (Q) — — —
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Short-Term Investments 952,786 — —
Marketable Securities (Q) — — —
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Marketable Securities 68,179 — —
Accounts Notes And Loans Receivable Net Current (Q) — — —
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Accounts Notes And Loans Receivable Net Current 700,742 — —
Contract With Customer Asset Net Current (Q) — — —
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Contract With Customer Asset Net Current 537,198 — —
Inventory (Q) — — —
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Inventory 317,513 — —
Prepaid Expenses & Other Current Assets (Q) — — —
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Prepaid Expenses & Other Current Assets 216,447 — —
Total Current Assets (Q) — — —
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Total Current Assets 4,216,736 — —
Non-Current Assets
Property, Plant & Equipment (Q) — — —
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Property, Plant & Equipment 283,208 — —
Deferred Tax Assets (Q) — — —
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Deferred Tax Assets 344,803 — —
Goodwill (Q) — — —
Show Business Segments breakouts
Connected Devices 51,242 — —
Software and Services 722,144 — —
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Goodwill 773,386 — —
Long Term Accounts Notes And Loans Receivable Net Noncurrent (Q) — — —
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Long Term Accounts Notes And Loans Receivable Net Noncurrent 2,893 — —
Contract With Customer Asset Net Noncurrent (Q) — — —
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Contract With Customer Asset Net Noncurrent 163,956 — —
Other Non-Current Assets (Q) — — —
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Other Non-Current Assets 326,388 — —
Total Assets (Q) — — —
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Total Assets 6,657,365 — —
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary 3,824 — —
Intangible Assets (Q) — — —
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Intangible Assets 131,754 80,026 +64.6%
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 26,364 14,919 +76.7%
Developed Technology Rights 100,088 61,053 +63.9%
Internet Domain Names 381 686 -44.5%
Patents 1,438 1,466 -1.9%
Trademarks 3,483 1,902 +83.1%
Other Assets
Intangible Assets Net Excluding Goodwill (Q) — — —
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Intangible Assets Net Excluding Goodwill 159,048 — —
Equity Securities Without Readily Determinable Fair Value Amount (Q) — — —
Show Financial Instrument breakouts
Call Option 11,600 — —
Call Option · Equity Securities 11,600 — —
Strategic investments 368,730 — —
Strategic investments · Debt Securities 546 — —
Strategic investments · Equity Securities 368,184 — —
Warrants 6,617 — —
Warrants · Equity Securities 6,617 — —
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Equity Securities Without Readily Determinable Fair Value Amount 386,947 — —
Show Fair Value By Asset Class breakouts
Debt Securities 546 — —
Equity Securities 386,401 — —
Current Liabilities
Accounts Payable (Q) — — —
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Accounts Payable 114,995 — —
Accrued Liabilities (Q) — — —
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Accrued Liabilities 293,344 — —
Deferred Revenue (Current) (Q) — — —
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Deferred Revenue (Current) 639,087 — —
Notes Payable Current (Q) — — —
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Notes Payable Current 279,560 — —
Customer Deposit Current (Q) — — —
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Customer Deposit Current 15,045 — —
Other Liabilities Current (Q) — — —
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Other Liabilities Current 7,699 — —
Total Current Liabilities (Q) — — —
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Total Current Liabilities 1,349,730 — —
Current Portion of Long-Term Debt (Q) — — —
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Current Portion of Long-Term Debt -279,560 — —
Non-Current Liabilities
Contract With Customer Liability Noncurrent (Q) — — —
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Contract With Customer Liability Noncurrent 364,519 — —
Liability For Uncertain Tax Positions Noncurrent (Q) — — —
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Liability For Uncertain Tax Positions Noncurrent 22,354 — —
Deferred Compensation Liability Classified Noncurrent (Q) — — —
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Deferred Compensation Liability Classified Noncurrent 22,675 — —
Operating Lease Liabilities (Q) — — —
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Operating Lease Liabilities 90,209 — —
Other Non-Current Liabilities (Q) — — —
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Other Non-Current Liabilities 50,762 — —
Total Liabilities (Q) — — —
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Total Liabilities 3,629,615 — —
Long-Term Debt (Q) — — —
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Long-Term Debt 2,008,926 — —
Long-Term Debt (Q) — — —
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Long-Term Debt 1,729,366 — —
Other Liabilities
Long Term Notes Payable (Q) — — —
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Long Term Notes Payable 1,729,366 — —
Stockholders' Equity
Common Stock (Q) — — —
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Common Stock 1 — —
Additional Paid In Capital Common Stock (Q) — — —
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Additional Paid In Capital Common Stock 2,262,306 — —
Treasury Stock Common Value (Q) — — —
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Treasury Stock Common Value -155,952 — —
Retained Earnings (Q) — — —
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Retained Earnings 933,925 — —
Accumulated Other Comprehensive Income (Q) — — —
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Accumulated Other Comprehensive Income -12,530 — —
Total Stockholders' Equity (Q) — — —
Show Equity Components breakouts
Accumulated Net Unrealized Investment Gain Loss 132 48 +175.0%
Accumulated Other Comprehensive Income -12,530 -9,120 -37.4%
Accumulated Translation Adjustment -12,662 -9,168 -38.1%
Additional Paid In Capital 2,262,306 1,588,072 +42.5%
Common Stock 1 1 0.0%
Retained Earnings 933,925 676,830 +38.0%
Treasury Stock Common -155,952 -155,947 -0.0%
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Total Stockholders' Equity 3,027,750 2,099,836 +44.2%
Total Liabilities & Equity (Q) — — —
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Total Liabilities & Equity 6,657,365 — —

Cash Flow Statement

Cash Flow Statement
Metric YTD Q3 2025 YTD Q3 2024 YoY
Operating Activities
Stock-Based Compensation (YTD) — — —
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Stock-Based Compensation 425,635 251,716 +69.1%
Show Income Statement Location breakouts
Cost Of Sales 38,151 48,235 -20.9%
Research And Development Expense 168,878 86,445 +95.4%
Selling General And Administrative Expenses 218,606 117,036 +86.8%
Gain Loss On Investments (YTD) — — —
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Gain Loss On Investments -134,647 -192,158 +29.9%
Gains Losses On Extinguishment Of Debt (YTD) — — —
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Gains Losses On Extinguishment Of Debt 28,584 — —
Depreciation & Amortization (YTD) — — —
Show Business Segments breakouts
Connected Devices · Operating Segments 26,783 15,393 +74.0%
Software and Services · Operating Segments 12,381 8,120 +52.5%
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Depreciation & Amortization 56,216 30,745 +82.8%
Show Consolidation Items breakouts
Operating Segments 39,164 23,513 +66.6%
Provision For Bad Debt And Inventory (YTD) — — —
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Provision For Bad Debt And Inventory 8,828 13,824 -36.1%
Deferred Income Taxes (YTD) — — —
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Deferred Income Taxes -53,696 -27,061 -98.4%
Other Noncash Expense (YTD) — — —
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Other Noncash Expense 15,930 13,183 +20.8%
Increase Decrease In Accounts And Notes Receivable (YTD) — — —
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Increase Decrease In Accounts And Notes Receivable -366,053 -226,759 -61.4%
Change in Inventory (YTD) — — —
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Change in Inventory -58,177 -11,629 -400.3%
Change in Deferred Revenue (YTD) — — —
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Change in Deferred Revenue 21,556 56,720 -62.0%
Increase Decrease In Accounts Payable And Accrued Liabilities (YTD) — — —
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Increase Decrease In Accounts Payable And Accrued Liabilities 44,730 10,243 +336.7%
Change in Prepaid & Other Assets (YTD) — — —
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Change in Prepaid & Other Assets -116,713 -2,528 -4516.8%
Net Cash from Operations (YTD) — — —
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Net Cash from Operations -5,896 158,146 -103.7%
Investing Activities
Payments To Acquire Investments (YTD) — — —
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Payments To Acquire Investments -2,045,738 -615,414 -232.4%
Payments To Acquire Businesses Net Of Cash Acquired (YTD) — — —
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Payments To Acquire Businesses Net Of Cash Acquired -22,809 -237,796 +90.4%
Proceeds From Sale And Maturity Of Marketable Securities (YTD) — — —
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Proceeds From Sale And Maturity Of Marketable Securities 1,644,556 858,326 +91.6%
Capital Expenditures (YTD) — — —
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Capital Expenditures -74,450 -53,984 -37.9%
Other Investing Activities (YTD) — — —
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Other Investing Activities -49 34 -244.1%
Net Cash from Investing (YTD) — — —
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Net Cash from Investing -498,490 -48,834 -920.8%
Financing Activities
Net Proceeds From Equity Offering (YTD) — — —
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Net Proceeds From Equity Offering 362,241 — —
Proceeds From Debt Net Of Issuance Costs (YTD) — — —
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Proceeds From Debt Net Of Issuance Costs 1,750,000 — —
Repayments Of Convertible Debt (YTD) — — —
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Repayments Of Convertible Debt -407,472 — —
Debt Issuance Costs (YTD) — — —
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Debt Issuance Costs -26,888 — —
Tax Withholding for Share Compensation (YTD) — — —
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Tax Withholding for Share Compensation -209,631 -22,325 -839.0%
Proceeds From Payments For Other Financing Activities (YTD) — — —
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Proceeds From Payments For Other Financing Activities -226 — —
Net Cash from Financing (YTD) — — —
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Net Cash from Financing 1,468,024 -12,608 +11743.6%
Amortization of Financing Costs (YTD) — — —
Show Debt Instrument breakouts
Senior Notes Due 2030 And 2033 · Senior Notes 1,741 — —
Show Derivative Risk breakouts
2027 Note Hedge · Convertible Debt 1,411 2,368 -40.4%
Supplemental
Restricted Cash And Cash Equivalents (Q) — — —
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Restricted Cash And Cash Equivalents 12,271 2,305 +432.4%
Interest Paid (YTD) — — —
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Interest Paid 56,468 1,725 +3173.5%
Income Taxes Paid (YTD) — — —
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Income Taxes Paid 51,608 60,670 -14.9%
Right Of Use Asset Obtained In Exchange For Operating Lease Liability (YTD) — — —
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Right Of Use Asset Obtained In Exchange For Operating Lease Liability 51,780 11,728 +341.5%
Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction (YTD) — — —
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Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction 31,570 — —
Other Noncash Investing And Financing Items Taxes Withheld On Stock Based Awards Included In Accrued Expenses (YTD) — — —
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Other Noncash Investing And Financing Items Taxes Withheld On Stock Based Awards Included In Accrued Expenses 10,510 — —
Unpaid Capital Expenditures (YTD) — — —
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Unpaid Capital Expenditures 3,432 10,214 -66.4%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (YTD) — — —
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Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 5,741 75 +7554.7%
Net Change in Cash (YTD) — — —
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Net Change in Cash 969,379 96,779 +901.6%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (Q) — — —
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1,436,142 697,449 +105.9%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

This table is rendered from the same JSON returned by /api/financials.

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