AXON Stock — Axon Enterprise, Inc.

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Next earnings call

Feb 23, 2027 Est · unconfirmed · in 14 wks

Q3 2026 earnings call transcript

call held Nov 5, 2026

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Latest documents

what the company just published, in one sentence each

2026

Nov 6

Quarterly report 10-Q FY2026 Q3, ended Sep 30

Revenue rises 32.2%, net income reaches $255.7 million

Axon Enterprise, Inc. reported nine-month revenue of $2.6 billion, up 32.2%, and net income of $255.7 million for 2026. It also agreed to make incremental minority investments of up to $1.2 billion in Skydio.

Revenue $908.55M ▲ 27.8% Net income $57.01M Diluted EPS $0.68

Read from the MD&A section

3 source passages

Our revenues for the nine months ended September 30, 2026 were $2.6 billion, an increase of $637.5 million, or 32.2%, from the nine months ended September 30, 2025. Net income of $255.7 million included net realized and unrealized gains of $266.4 million related to our strategic investments and a $56.1 million tax provision, partially offset by a net realized and unrealized loss of $8.8 million related to our marketable securities. On November 5, 2026, we entered into agreements to make incremental minority investments of up to $1.2 billion in Skydio. Open the document at this passage

Nov 5

Earnings call

28% revenue growth paired with $1.2 billion Skydio investment

Axon Enterprise, Inc. reported third-quarter revenue of $909 million, up 28% year-over-year, and announced an additional $1.2 billion Skydio investment that raises fully diluted ownership to 37%.

3 source passages

our third quarter 2026 earnings conference call Revenue was $909 million, up 28% year-over-year. today we announced an expanded commercial partnership with Skydio along with an additional $1.2 billion investment that takes our fully diluted ownership to 37% Open the document at this passage

Nov 5

Current report 8-K

Skydio investment lifts stake to approximately 37%

Axon Enterprise, Inc. announced approximately $1.2 billion investment in Skydio, Inc., expected to increase ownership from approximately 15% to approximately 37% fully diluted. Consideration is expected to be approximately 60% cash, or approximately $720 million, with the remainder in common stock.

Entered into a material agreement, Unregistered sale of equity, Regulation FD disclosure Read from the first part of this long document

2 source passages

On November 5, 2026, Axon Enterprise, Inc. (“Axon”) announced an incremental minority investment of approximately $1.2 billion in Skydio, Inc., a Delaware corporation (“Skydio”, and such transaction, the “Skydio Investment”), which is expected to increase Axon’s ownership from approximately 15% as of September 30, 2026, to approximately 37% on a fully diluted basis after giving effect to the Skydio Investment. As further described below, the approximately $1.2 billion of consideration is expected to consist of approximately 60% cash, or approximately $720 million, with the remainder to be paid in shares of Axon’s common stock (“Axon Stock”). Open the document at this passage

Nov 5

Current report 8-K

Record Q3 revenue and $1.2 billion Skydio investment

Axon Enterprise reported Q3 2026 revenue of $909 million, up 28% year over year, and announced a $1.2 billion Skydio investment increasing ownership to 37%. Software & Services revenue grew 43% to $437 million.

Financial results Read from the first part of this long document

3 source passages

Axon reports record Q3 2026 revenue of $909 million, up 28% year over year Today, we announce the largest single investment in Axon’s history: a $1.2 billion investment in Skydio. Skydio is one of America’s leading drone technology companies, and this investment increases our ownership stake to 37%. Software & Services revenue grew 43% year over year to $437 million. Open the document at this passage

Sep 21

Current report 8-K Events of Sep 15

Entered into a material agreement, New debt or off-balance-sheet obligation, Regulation FD disclosure

Axon Enterprise, Inc. issued $1,150.0 million of 0% Convertible Senior Notes due 2031 on September 18, 2026, including $150.0 million from the underwriters’ over-allotment. The notes carry an initial conversion price of approximately $652.06 per share and mature September 15, 2031.

Read from the first part of this long document

All documents

Metrics snapshot

Useful current figures from the complete screener profile.

View all 125 metrics

Revenue (TTM)

$3.42B

Trailing 12 months

Net income (TTM)

$258.49M

Trailing 12 months

Revenue growth YoY

+27.8%

Year over year

Operating margin

2.0%

Trailing 12 months

P / E (TTM)

101.4

Trailing earnings · reciprocal yield 1.0%

FCF yield

0.3%

TTM · current market cap

Return on invested capital

—

Trailing 12 months

Net cash

−$1.23B

Latest balance sheet

Dividend yield

—

Trailing 12 months

Shares change YoY

+6.7%

Year over year · more shares

Price change (1Y)

-43.4%

Trailing year

Short interest

5.0%

Latest settlement · 4.3 days to cover

View all 125 metrics

Quarterly results

Revenue Net income Net loss

▲33.6% $575.14M $135.18M '24 Q4* ▲31.3% $603.63M $87.98M '25 Q1 ▲32.8% $668.54M $36.12M '25 Q2 ▲30.6% $710.64M −$2.19M '25 Q3 ▲38.5% $796.72M $2.75M '25 Q4* ▲33.7% $807.35M $169.31M '26 Q1 ▲35.3% $904.39M $29.43M '26 Q2 LATEST ▲27.8% $908.55M $57.01M '26 Q3

* Q4 derived as the full year minus Q1 to Q3.

AI Brief

Q2 FY26 earnings call · Aug 5, 2026

Q2 FY26

TL;DR. Axon delivered a record Q2 with revenue up 35% YoY to $904 million, GAAP net income declined YoY due to a prior-year tax benefit, and the company raised full-year revenue growth guidance to 32%–34% while reiterating ~25.5% adjusted EBITDA margin despite rising memory costs.

Bullish

+ Raised full-year 2026 revenue growth guidance to 32%–34%, up from prior 30%–32% range.
+ Future contracted bookings grew ~41% YoY to $15.1 billion, including a record-largest individual TASER order and two nine-figure deals with major U.S. cities.
+ Platform Solutions revenue grew 123% YoY to $150 million with Dedrone surpassing $100 million in quarterly revenue; international and enterprise bookings each roughly tripled YoY.

Bearish

− GAAP Q2 net income declined YoY to $29 million ($0.36 diluted EPS) from $36 million ($0.44) due to a large prior-year tax benefit, despite higher pre-tax income.
− Q2 free cash flow was a $1 million outflow, with continued heavy inventory investment weighing on conversion; full-year memory component cost increases offset Q2 tariff refunds, leaving full-year EBITDA margin guidance unchanged.
− Software & Services gross margin compressed to 71.3% from 75.6% YoY, as higher professional services and scaling newer offerings pressured mix.

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Research

our published analysis of this company

Scientific Research October 24, 2026

How Much Do Stocks Move After Earnings? Evidence From 12,353 S&P 500 Reports

In 2026 so far, 13.3% of S&P 500 earnings reports moved the stock 10% or more on the next trading day, more than one in eight, against one in 23 in 2021, and the average move grew from 3.4% to 5.3%. Technology stocks moved 8.0% on average over the last four quarters, utilities 1.9%.

Equibles Rating

blended score · not investment advice

Overall

Sell

SellHoldBuy

Technical Strong Sell Momentum Very Weak Sentiment Bearish Fundamentals Strong Quant / Vol Very High

Market backdrop VIX 19.3 · elevated Equity put/call 0.63

Technical

price trend

Strong Sell

50 / 200-day cross No cross

Price vs 200-day avg −32%

below

Price vs 50-day avg −24%

below

RSI (14) 30

oversold

MACD trend Negative

52-week position 4%

near low

Volume (OBV) Confirms

volume backs price

Momentum

relative strength

Very Weak

1-month return −19%

trailing

6-month return −18%

trailing

YTD return −44%

this year

Relative strength −19%

vs S&P · 6-mo

Sentiment

smart money

Bearish

Trend (MA cross) No cross

50d $418 › 200d $466 — 200d above 50d

Institutional flow Distributing

1,028 of 1,146 funds reported for Sep 30 · net -1.9M sh shares · +92 new

Insider flow Flat

No net insider activity over 90 days

Short interest Rising

5.05% of shares out · ▲ +1.2% MoM · 4.3 days cover

Volume signal Normal

Volume near normal

Institution breadth Steady

1,146 holders — mid 3-yr range

Squeeze score 59

elevated · 0–100

Fundamentals

Strong

Revenue growth +33%

Y/Y

Gross margin 60%

expanding

EPS growth −69%

Y/Y

Free cash flow $75.1M

Buyback $16.3M

remaining

Balance sheet $609.6M

net debt

Quant / Vol

risk profile

Very High

Volatility 64%

annualized · 1-yr

Max drawdown −53%

past year

ATR 7.2%

of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

what management promised — and delivered

Beat or met 6 of last 6

Latest guidance · from the 8-K filed Aug 5, 2026

2026 Revenue growth · full-year 2026 Raised 32% – 34%

Feb 24, 2026 27% – 30% Aug 5, 2026 32% – 34%

2026 Adjusted EBITDA margin · full-year 2026 Maintained 25.5%

May 6, 2026 25.5% Aug 5, 2026 25.5%

2026 Stock-based compensation expense · full-year 2026 Maintained $590M – $620M

May 6, 2026 $590M – $620M Aug 5, 2026 $590M – $620M

2026 CapEx · full-year 2026 Maintained $160M – $190M

May 6, 2026 $160M – $190M Aug 5, 2026 $160M – $190M

Previous outlook earlier release · from the 8-K filed May 6, 2026

Still-open targets the latest release did not restate under the same label.

Full-year 2026 revenue growth · full-year 2026 30% – 32%

Full-year 2026 stock-based compensation expenses · full-year 2026 $590M – $620M

Guided vs delivered · last 6 settled

Q4 revenue Q4 2025

guided $750M – $755M

guided $750M – $755M $796.72M Beat +5.9%

Full-year 2025 revenue Full Year 2025

guided $2.74B

guided $2.74B $2.78B Beat +1.4%

Revenue 2023

guided $1.43B

guided $1.43B $1.56B Beat +9.1%

Revenue 2022

guided at least $1B

guided at least $1B $1.19B In line

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Strong Sell

4 · 3 · 0

50 / 200-day cross

No cross Neutral

Price vs 200-day avg

−32% Bearish

Price vs 50-day avg

−24% Bearish

RSI (14)

30 Neutral

MACD trend

Negative Bearish

52-week position

4% Bearish

Volume (OBV)

Confirms Neutral

Market signals — smart money & positioning

Bearish · 2 of 6

Trend (MA cross) No cross

50d $418 › 200d $466 — 200d above 50d

Institutional flow Distributing

1,028 of 1,146 funds reported for Sep 30 · net -1.9M sh shares · +92 new

Insider flow Flat

No net insider activity over 90 days

Short interest Rising

5.05% of shares out · ▲ +1.2% MoM · 4.3 days cover

Volume signal Normal

Volume near normal

Institution breadth Steady

1,146 holders — mid 3-yr range

Price context

position in its 52-week range

Range low $303 Now $315 · 4% Range high $646

vs 200-day avg -32% vs 50-day avg -24%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings

Metric	Latest	Period	YoY
Adjusted gross margin for the Connected Devices segment non-GAAP	53.4%	the three months ended June 30, 2026 filing	—
Adjusted gross margin for the Software and Services segment non-GAAP	75.1%	the three months ended June 30, 2026 filing	—
EBITDA non-GAAP	$85.59M	Three Months Ended June 30, 2026 filing	—
Adjusted EBITDA non-GAAP	443.65M	six months ended 30 JUN 2026	—
Adjusted free cash flow, a non-GAAP measure non-GAAP	-54.83M	six months ended 30 JUN 2026	—
Annual recurring revenue	$1.64B	Q2 FY2026	—
Free cash flow, a non-GAAP measure non-GAAP	-55.61M	six months ended 30 JUN 2026	—
Future contracted bookings	$15.1B	Q2 FY2026	—
Net revenue retention	126%	Q2 FY2026	—

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Aerospace & Defense — same industry group

Open screener →

Company	Mkt cap	YTD	Rev growth Y/Y	P/E	Short % shares
AXON Axon Enterprise, Inc. this stock	$25.69B	-44.5%	+33.5%	—	5.0%
SPCX Space Exploration Technologies Corp	$1.89T	—	—	—	1.0%
GE General Electric Co	$342.88B	+7.7%	+18.5%	38.3	1.2%
RTX RTX Corp	$267.97B	+8.3%	+17.1%	32.2	1.0%
EADSF Airbus SE	$178.35B	-3.2%	—	—	0.1%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section

Ownership

Institutional Holders Reducing

Holders

1,135

% held: 91.5%
Reported: 1,028 of 1,146
Top holder: BlackRock, Inc.

Held Float

View

Held by Funds

Fund positions

892

View

Short & Settlement

Short Interest Rising

Shares short

4.1M

Days to cover: 4.3d
Change: +48.7K sh

View

Short Volume

Short vol %

55%

As of: Nov 13, 2026

Short Total

View

Fails to Deliver

FTD shares

2

Value: $827
As of: Oct 14, 2026

View

Off-Exchange

Off-exchange %

43.4%

Week of: Oct 5, 2026

Off-exch Lit

View

Smart Money

Congressional Trades Buy

Member

Alan Armstrong

Amount: $1.0K–$15.0K
Traded: Mar 27, 2026

View

Financials

Revenue (FY)

$2.8B

Net income (FY): $124.7M
EPS diluted: $1.51

View

Buybacks

Authorized

$50.0M

Remaining: $16.3M

Spent Remaining

View

Filings

SEC Filings

Latest

10-Q

Filed: Nov 6, 2026
This year: 23

Axon Enterprise, Inc. reported nine-month revenue of $2.6 billion, up 32.2%, and net income of $255.7 million for 2026. It also agreed to make incremental minority investments of up to $1.2 billion in Skydio.

View

Proposed Sales

Value

$487.0K

Shares: 1.0K
Filed: Sep 11, 2026

View

Earnings & Events

Webcasts Upcoming

Next webcast

Nov 18, 2026

Last webcast: Nov 5, 2026

View

Investor Relations

	5D	20D	120D	MTD	YTD
AXON	+0.8%	-19.2%	-18.1%	-26.3%	-44.5%
SPY	+2.6%	-1.2%	+0.5%	-0.2%	+10.6%
vs SPY	-1.8%	-18.0%	-18.6%	-26.1%	-55.1%

AXON · Axon Enterprise, Inc.

Price & Indicators

Up next

Latest documents

Metrics snapshot

Quarterly results

AI Brief

Equibles Research

Equibles Rating

Guidance & track record

Technicals

Key metrics

Versus peers

At a glance

Performance

Capital returns