Jun 2026 (Q2 FY26) — Aug 5, 2026
Axon Q2 FY26 — Record Revenue and Strong Bookings Growth Driven by Ecosystem Expansion
Read the full callAxon (AXON) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Axon earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 904 | +35.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 5.2 | +5.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 29.4 | −18.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
14 of 18 judged targets kept · 16 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Scaled automated production of Apollo cartridge | Begin | Mar 2025 | Ghosted | |
| Revenue growth | 27% to 30% | Dec 2025 | We're raising our full year revenue guidance to a range of 32% to 34%, 200 basis points above our prior range of 30% to 32%. | Revised Up |
| Adjusted EBITDA margin | lower than 25.5% | Dec 2025 | This improves upon the 25% adjusted EBITDA margin we delivered in Q1 with operating leverage expected in the second half of the year, allowing us to hit that annual target. | Achieved |
4 of AXON ENTERPRISE, INC.'s 34 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 31 more targets are in the full ledger.
Claimed
- Revenue reached $904 million, up 35% YoY, marking the tenth consecutive quarter of over 30% growth.
- Software & Services revenue increased 36% YoY to $398 million, with newer offerings growing ~70% and AI Era Plan growing almost 700%.
- Net revenue retention (NRR) reached 126%, up from 119% previously, indicating strong customer expansion.
- Q2 gross bookings were up 20% YoY, with 5-year normalized bookings up over 30%, showing broad-based demand.
- Full-year revenue guidance was raised to 32%-34% growth, up from the prior range of 30%-32%.
Qualified
- Free cash flow outflow of $1 million in Q2, reflecting substantial inventory investments to support demand.
- Increased component costs, especially for memory, are expected to impact Q3 adjusted EBITDA margin.
- Newer product offerings, while scaling rapidly, are absorbing mix impact on overall margins.
Price
$383.09 −1.84% · −$7.2
Performance −42.9% 1Y
1Y: $670.68 on 17 Oct 2025 → $383.09. High $759.44 (29 Oct 2025), low $345.94 (10 Apr 2026).
- Previous close
- $390.29
- 52-week range
- $345.94 – $759.44
- One year
- −43.92%
Overview
- Symbol
- AXON
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
14 of 18 judged targets kept · 16 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Scaled automated production of Apollo cartridge | Begin | Mar 2025 | Ghosted | |
| Revenue growth | 27% to 30% | Dec 2025 | We're raising our full year revenue guidance to a range of 32% to 34%, 200 basis points above our prior range of 30% to 32%. | Revised Up |
| Adjusted EBITDA margin | lower than 25.5% | Dec 2025 | This improves upon the 25% adjusted EBITDA margin we delivered in Q1 with operating leverage expected in the second half of the year, allowing us to hit that annual target. | Achieved |
Claimed
- Revenue reached $904 million, up 35% YoY, marking the tenth consecutive quarter of over 30% growth.
- Software & Services revenue increased 36% YoY to $398 million, with newer offerings growing ~70% and AI Era Plan growing almost 700%.
- Net revenue retention (NRR) reached 126%, up from 119% previously, indicating strong customer expansion.
- Q2 gross bookings were up 20% YoY, with 5-year normalized bookings up over 30%, showing broad-based demand.
- Full-year revenue guidance was raised to 32%-34% growth, up from the prior range of 30%-32%.
Qualified
- Free cash flow outflow of $1 million in Q2, reflecting substantial inventory investments to support demand.
- Increased component costs, especially for memory, are expected to impact Q3 adjusted EBITDA margin.
- Newer product offerings, while scaling rapidly, are absorbing mix impact on overall margins.
The full ledger
Open AXON ENTERPRISE, INC.’s full ledger
A free account opens 5 company ledgers a month. All 34 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Axon Enterprise Q1 FY26 — Record first quarter with AI and Dedrone driving broad-based growth
Read the full callDec 2025 (Q4 FY25) — Feb 24, 2026
Axon Q4 FY25 — Record Bookings and Strong Growth Drive Optimistic 2028 Targets
Read the full callEvery analysed call
Axon earnings calls (AXON)
Financials
What the filings say
Net profit, year on year: −19% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 544 | 575 | 604 | 669 | 711 | 797 | 807 | 904 |
| Operating profit | 24 | -16 | -9 | -1 | -2 | -50 | 29 | 47 |
| Operating margin | 4.4% | −2.7% | −1.5% | −0.1% | −0.3% | −6.3% | 3.6% | 5.2% |
| Interest | 2 | 2 | 8 | 29 | 29 | 29 | 29 | 28 |
| Profit before tax | 80 | 85 | 108 | -39 | 16 | -66 | 200 | 33 |
| Tax rate | 15.8% | −59.9% | 18.8% | 192.9% | 113.9% | 104.1% | 15.4% | 10.0% |
| Net profit | 67 | 135 | 88 | 36 | -2 | 3 | 169 | 29 |
| EPS ($ per share) | 0.89 | — | 1.14 | 0.46 | -0.03 | — | 2.11 | 0.37 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 171 | 172 | 170 | 110 | 257 | 435 | 812 | 937 |
| Total liabilities | 252 | 302 | 405 | 640 | 1,583 | 1,793 | 2,147 | 3,758 |
| Fixed assets | 38 | 44 | 105 | 138 | 170 | 201 | 247 | 331 |
| Investments | 0 | 179 | 407 | 15 | 582 | 644 | 333 | 505 |
| Total assets | 720 | 846 | 1,381 | 1,688 | 2,852 | 3,409 | 4,475 | 7,000 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 64 | 66 | 38 | 124 | 235 | 189 | 408 | 211 |
| Cash from investing | -10 | -241 | -357 | 253 | -831 | 12 | -491 | -725 |
| Cash from financing | 219 | -4 | 299 | -174 | 598 | 41 | -45 | 1,252 |
| Net cash flow | 273 | -179 | -17 | 201 | -1 | 245 | -134 | 747 |
| Capital expenditure | -11 | -16 | -73 | -50 | -56 | -60 | -79 | -136 |
| Free cash flow | 53 | 50 | -34 | 75 | 180 | 130 | 330 | 75 |
AXON revenue by segment
Software and Sensors shrank from 59% to 44% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Connected Devices | — | — | 56% | 56% | 57% | 57% | 56% | 56% | +34.6% |
| Software and Sensors | 59% | 61% | 44% | 44% | 43% | 43% | 44% | 44% | +36.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
AXON operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Backlog | $9.9BOur comfort in raising guidance is based on the strong Q1 bookings performance as well as the pipeline we see for the year and the future contracted bookings of $9.9 billion.Source: earnings call transcript | $14.3BFuture contracted bookings was up 44% year-over-year to $14.3 billion, reflecting this broad-based momentum.Source: earnings call transcript | $15.1BFuture contracted bookings grew more than 40% year-over-year to $15.1 billion, reflecting the broad-based momentum we're seeing across products and end markets.Source: earnings call transcript | +5.6% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 82% ↓ 7 pt
- Non Us 18% ↑ 7 pt
As AXON cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
347 filings between Oct 31, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$129.57M
281 sales by 11 insiders
75% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 32
- Award — granted as compensation
- 33
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| SMITH PATRICK W | — | $60.24M | Sep 8, 2026 |
| Isner Joshua | — | $46.61M | Aug 31, 2026 |
| Bagley Brittany | — | $7.94M | Jun 2, 2026 |
| Kunins Jeffrey C | — | $6.99M | Aug 21, 2026 |
| Fields Isaiah | — | $2.36M | Sep 11, 2026 |
| Mak Jennifer H | — | $2.07M | Mar 2, 2026 |
| Brooks Cameron | — | $1.31M | Jun 4, 2026 |
| Kalinowski Caitlin Elizabeth | — | $768.0K | Jun 1, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Brooks Cameron CHIEF REVENUE OFFICER | Tax withheld | 5,850 | $2.47M |
| Sep 11, 2026 | Fields Isaiah Chief Legal Officer | Sale 10b5-1 plan | 1,017 | $488.6K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 1,104 | $558.2K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 1,033 | $529.6K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 1,774 | $902.0K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 71 | $35.6K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 744 | $376.8K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 410 | $206.5K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 1,348 | $688.3K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 1,251 | $639.8K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 1,319 | $671.8K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 197 | $101.1K |
| Sep 8, 2026 | SMITH PATRICK W CHIEF EXECUTIVE OFFICER | Sale 10b5-1 plan | 749 | $380.1K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 565 | $330.9K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 120 | $69.9K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 677 | $387.2K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 1,684 | $958.1K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 318 | $185.0K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 359 | $202.3K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 1,232 | $695.4K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 661 | $373.7K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 373 | $209.7K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 314 | $180.0K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 280 | $164.8K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 643 | $367.1K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 188 | $106.5K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 347 | $194.7K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 280 | $164.2K |
| Aug 31, 2026 | Coughlin Elizabeth Reid Chief Human Officer | Tax withheld | 479 | $271.5K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 477 | $278.8K |
| Aug 31, 2026 | Fields Isaiah Chief Legal Officer | Tax withheld | 763 | $432.4K |
| Aug 31, 2026 | Brooks Cameron CHIEF REVENUE OFFICER | Tax withheld | 735 | $416.3K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 109 | $64.3K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 1,108 | $638.0K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 283 | $162.6K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 1,379 | $798.1K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 625 | $361.1K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 193 | $109.5K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 91 | $53.9K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 1,663 | $964.1K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 1,075 | $620.1K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 898 | $511.6K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 793 | $460.4K |
| Aug 31, 2026 | Isner Joshua PRESIDENT | Sale 10b5-1 plan | 40 | $23.8K |
| Aug 31, 2026 | Mak Jennifer H Chief Accounting Officer | Tax withheld | 156 | $88.2K |
| Aug 21, 2026 | Kunins Jeffrey C CPO & CTO | Sale 10b5-1 plan | 1,074 | $670.0K |
| Aug 21, 2026 | Kunins Jeffrey C CPO & CTO | Sale 10b5-1 plan | 240 | $147.3K |
| Aug 21, 2026 | Kunins Jeffrey C CPO & CTO | Sale 10b5-1 plan | 40 | $24.9K |
| Aug 21, 2026 | Kunins Jeffrey C CPO & CTO | Sale 10b5-1 plan | 160 | $97.5K |
| Aug 21, 2026 | Kunins Jeffrey C CPO & CTO | Sale 10b5-1 plan | 80 | $49.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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