AXON ENTERPRISE, INC.

Ordnance & Accessories, (No Vehicles/Guided Missiles)·SCOTTSDALE, AZ·FY end 12/31·CIK 1069183

Financials

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$2.8B	$503.2M	$1.6B	$1.2B	$863.4M
Gross Profit	$1.7B	$306.2M	$955.4M	$728.6M	$540.9M
Operating Income	-$62.1M	$33.8M	$154.8M	$93.3M	-$168.1M
Net Income	$124.7M	$41.5M	$174.2M	$147.1M	-$60.0M
Operating CF	$211.3M	$408.3M	$189.3M	$235.4M	$124.5M
Capex	$136.3M	$78.8M	$59.6M	$55.8M	$49.9M
Free Cash Flow	$75.1M	$329.5M	$129.6M	$179.6M	$74.6M
Buybacks	—	—	—	—	—	—
Dividends	—	—	—	—	—	—

Gross Margin	59.7%	60.8%	61.1%	61.2%	62.7%
Operating Margin	-2.2%	6.7%	9.9%	7.8%	-19.5%
Net Margin	4.5%	8.2%	11.1%	12.4%	-7.0%
FCF Margin	2.7%	65.5%	8.3%	15.1%	8.6%
R&D / Revenue	24.6%	87.8%	19.4%	19.6%	22.5%
Effective Tax	-557.0%	19.4%	-12.4%	25.1%	57.5%
Debt / Equity	1.09	—	—	—	—	—
Buybacks / FCF	—	—	—	—	—	—

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