AXON financial statements

The full income statement, balance sheet, and cash-flow statement for Axon Enterprise Inc. (AXON), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	2.78B YoY+33.5%	2.08B YoY+33.4%	1.56B YoY+31.5%	1.19B YoY+37.1%	866M YoY+27.1%
	1.66B YoY+33.6%	1.24B YoY+29.9%	955M YoY+31.6%	726M YoY+33.1%	546M YoY+31.1%
Cost of revenue	1.12B YoY+33.3%	841M YoY+39.0%	605M YoY+31.3%	461M YoY+44.1%	320M YoY+20.9%
	1.72B YoY+45.4%	1.18B YoY+48.1%	799M YoY+26.1%	633M YoY-10.7%	709M YoY+64.7%
Research & development	684M YoY+55.0%	442M YoY+45.4%	304M YoY+29.9%	234M YoY+20.5%	194M YoY+57.5%
Selling, general & administrative	1.04B YoY+39.8%	741M YoY+49.8%	495M YoY+23.9%	399M YoY-22.4%	515M YoY+67.5%
Amortization of intangibles	29.8M YoY+71.3%	17.4M YoY+286.7%	4.50M YoY+12.5%	4.00M YoY+37.9%	2.90M YoY-12.1%
Provision for credit losses	—	4.03M YoY-26.5%	5.48M YoY+682.3%	701K YoY+1623.9%	-46.0K YoY-103.8%
Operating income	-62.1M YoY-206.0%	58.5M YoY-62.7%	157M YoY+68.7%	93.0M YoY+157.0%	-163M YoY-1053.0%
Interest expense	94.2M YoY+1227.7%	7.10M YoY+1.5%	7.00M	—	—
Interest & investment income	75.4M YoY+72.6%	43.7M YoY-11.0%	49.1M	—	—
Other non-operating income	99.9M YoY-65.1%	286M YoY+783.4%	-41.9M YoY-142.3%	99.0M YoY+291.7%	25.3M
Pre-tax income	19.0M YoY-95.0%	382M YoY+142.9%	157M YoY-20.0%	196M YoY+243.9%	-136M YoY-2068.2%
Income tax	-106M YoY-2464.3%	4.47M YoY+123.9%	-18.7M YoY-138.0%	49.3M YoY+161.6%	-80.1M YoY-1653.1%
Net income	125M YoY-66.9%	377M YoY+114.5%	176M YoY+19.6%	147M YoY+360.8%	-56.3M YoY-3167.9%
	$1.51 YoY-68.5%	$4.80 YoY+106.0%	$2.33 YoY+14.8%	$2.03 YoY+323.1%	-$0.91 YoY-2933.3%
EPS (basic)	$1.60 YoY-67.9%	$4.98 YoY+110.1%	$2.37 YoY+14.5%	$2.07 YoY+343.5%	-$0.85 YoY-2733.3%
	78.1M YoY+3.1%	75.7M YoY+2.1%	74.2M YoY+4.4%	71.1M YoY+7.4%	66.2M YoY+7.1%
	82.4M YoY+4.9%	78.6M YoY+4.1%	75.5M YoY+4.0%	72.5M YoY+9.6%	66.2M YoY+7.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.71B YoY+61.6%	2.30B YoY-4.0%	2.39B YoY+32.6%	1.81B YoY+62.7%	1.11B YoY+13.0%
Cash & equivalents	1.20B YoY+164.1%	455M YoY-24.0%	599M YoY+69.2%	354M YoY-0.7%	356M YoY+129.2%
Short-term investments	505M YoY+51.7%	333M YoY-48.3%	644M YoY+10.7%	582M YoY+3909.4%	14.5M YoY-96.4%
Inventory	342M YoY+28.8%	265M YoY-1.7%	270M YoY+33.3%	202M YoY+86.3%	109M YoY+20.8%
Prepaid expenses	277M YoY+112.8%	130M YoY+26.5%	103M YoY+41.1%	73.0M YoY+29.2%	56.5M YoY+53.3%
Other current assets	128M	—	—	—	—
	7.00B YoY+56.4%	4.47B YoY+31.3%	3.41B YoY+19.5%	2.85B YoY+68.9%	1.69B YoY+22.2%
Property, plant & equipment	331M YoY+33.8%	247M YoY+23.3%	201M YoY+18.1%	170M YoY+22.7%	138M YoY+31.2%
Operating lease right-of-use	99.5M YoY+123.3%	44.6M YoY+23.3%	36.2M YoY-5.8%	38.4M YoY+64.9%	23.3M YoY+4.3%
Goodwill	1.37B YoY+81.0%	757M YoY+1206.1%	57.9M YoY+28.8%	45.0M YoY+3.2%	43.6M YoY+72.9%
Intangible assets	197M YoY+12.5%	175M YoY+796.4%	19.5M YoY+60.7%	12.2M YoY-21.4%	15.5M YoY+63.7%
Long-term investments	—	—	—	156M YoY+400.2%	31.2M YoY-65.6%
Deferred tax assets	360M YoY+18.2%	304M YoY+33.6%	228M YoY+45.2%	157M YoY+23.3%	127M YoY+177.9%
Other non-current assets	428M YoY+80.2%	238M YoY+24.4%	191M YoY+19.7%	160M YoY+62.5%	98.2M YoY+44.0%
	1.47B YoY-12.4%	1.68B YoY+120.3%	762M YoY+26.4%	603M YoY+44.0%	419M YoY+63.3%
Accounts payable	139M YoY+93.3%	72.0M YoY+9.3%	65.9M YoY+9.9%	59.9M YoY+86.0%	32.2M YoY+33.5%
Accrued liabilities	511M YoY+82.9%	279M YoY+44.2%	194M YoY+24.1%	156M YoY+50.4%	104M YoY+73.3%
Deferred revenue	715M YoY+16.6%	613M YoY+30.3%	470M YoY+30.7%	360M YoY+35.6%	266M YoY+62.0%
Short-term & current debt	80.6M YoY-88.2%	680M	0.00	—	—
Current lease liability	6.99M YoY-26.1%	9.45M YoY+19.1%	7.94M YoY+24.9%	6.36M YoY-2.8%	6.54M YoY+20.4%
Other current liabilities	9.11M YoY-29.2%	12.9M YoY+31.4%	9.79M YoY+53.9%	6.36M YoY-2.8%	6.54M YoY+20.4%
	3.76B YoY+75.0%	2.15B YoY+19.7%	1.79B YoY+13.3%	1.58B YoY+147.3%	640M YoY+58.2%
Long-term debt	1.73B	0.00 YoY-100.0%	677M	—	—
Deferred revenue (non-current)	360M YoY-0.2%	361M YoY+33.1%	271M YoY+9.2%	248M YoY+33.5%	186M YoY+67.0%
Non-current lease liability	98.9M YoY+139.1%	41.4M YoY+23.3%	33.5M YoY-9.7%	37.1M YoY+81.7%	20.4M YoY+7.9%
Deferred tax liabilities	1.64M YoY-30.7%	2.37M	0.00 YoY-100.0%	1.00K YoY-99.9%	811K YoY+25.0%
Other non-current liabilities	50.4M YoY+93.3%	26.1M YoY+24.8%	20.9M YoY+353.4%	4.61M YoY-14.4%	5.39M YoY-80.3%
	3.24B YoY+39.3%	2.33B YoY+44.1%	1.62B YoY+27.2%	1.27B YoY+21.0%	1.05B YoY+7.6%
Preferred stock	0.00	0.00	0.00	—	—
Common stock	1.00K YoY+0.0%	1.00K YoY+0.0%	1.00K YoY+0.0%	1.00K YoY+0.0%	1.00K YoY+0.0%
Additional paid-in capital	2.48B YoY+46.5%	1.69B YoY+25.4%	1.35B YoY+14.7%	1.17B YoY+7.2%	1.10B YoY+13.8%
Retained earnings	937M YoY+15.4%	812M YoY+86.7%	435M YoY+69.2%	257M YoY+133.9%	110M YoY-35.3%
Treasury stock	157M YoY+0.8%	156M YoY+0.0%	156M YoY+0.0%	156M YoY+0.0%	156M YoY+0.0%
Accumulated other comprehensive income	-11.8M YoY+35.1%	-18.2M YoY-70.3%	-10.7M YoY-48.8%	-7.18M YoY-445.1%	-1.32M YoY-1034.0%
Total liabilities & equity	7.00B YoY+56.4%	4.47B YoY+31.3%	3.41B YoY+19.5%	2.85B YoY+68.9%	1.69B YoY+22.2%
	100M YoY+3.7%	96.8M YoY+1.4%	95.5M YoY+33.6%	71.5M YoY+0.8%	70.9M YoY+11.2%
	80.2M YoY+4.7%	76.6M YoY+1.8%	75.3M YoY+5.4%	71.5M YoY+0.8%	70.9M YoY+11.2%
	80.4M YoY+4.9%	76.6M YoY+1.8%	75.3M YoY+3.3%	72.9M YoY+2.7%	70.9M YoY+11.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	211M YoY-48.2%	408M YoY+115.7%	189M YoY-19.6%	235M YoY+89.1%	124M YoY+223.5%
Depreciation & amortization	83.2M YoY+71.7%	48.4M YoY+150.7%	19.3M YoY-16.4%	23.1M YoY+23.7%	18.7M YoY+49.9%
Share-based compensation	634M YoY+65.8%	383M YoY+191.3%	131M YoY+23.7%	106M YoY-65.0%	303M YoY+127.1%
Deferred income taxes	-82.7M YoY+2.8%	-85.1M YoY-17.4%	-72.5M YoY-429.2%	22.0M YoY+127.1%	-81.3M YoY-391.9%
Change in inventory	82.0M YoY+13601.0%	-607K YoY-100.8%	77.6M YoY-18.3%	95.0M YoY+420.0%	18.3M YoY-65.0%
	-725M YoY-47.8%	-491M YoY-4032.1%	12.5M YoY+101.5%	-831M YoY-429.0%	253M YoY+170.8%
Capital expenditure	136M YoY+72.9%	78.8M YoY+32.1%	59.6M YoY+6.9%	55.8M YoY+11.9%	49.9M YoY-31.3%
Free cash flow	75.1M YoY-77.2%	330M YoY+154.2%	130M YoY-27.8%	180M YoY+140.7%	74.6M YoY+318.5%
Acquisitions	647M YoY+4.0%	622M YoY+2848.4%	21.1M YoY+902.4%	2.10M YoY-90.6%	22.4M
Purchases of investments	2.08B YoY+161.7%	793M YoY+40.8%	564M YoY-33.3%	845M YoY+133.2%	362M YoY-44.8%
Proceeds from sale of PP&E	—	—	98.0K YoY-65.9%	287K YoY+567.4%	43.0K YoY-54.7%
Other investing activities	49.0K YoY+190.7%	-54.0K YoY-110.1%	537K YoY+2585.0%	20.0K	—
	1.25B YoY+2856.5%	-45.4M YoY-210.0%	41.3M YoY-93.1%	598M YoY+443.4%	-174M YoY-158.2%
Long-term debt issued	1.75B	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00 YoY-100.0%	106M YoY-65.6%
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	-224K YoY+87.8%	-1.83M	0.00	0.00	—
FX effect on cash	7.76M YoY+224.9%	-6.21M YoY-400.7%	2.06M YoY+161.1%	-3.38M YoY-70.5%	-1.98M YoY-200.3%
Net change in cash	747M YoY+657.6%	-134M YoY-154.6%	245M YoY+27765.7%	-886K YoY-100.4%	201M YoY+1295.5%
Interest paid	57.2M YoY+1557.2%	3.45M YoY-1.7%	3.51M	0.00	—
Income taxes paid	51.1M YoY-24.7%	67.8M YoY+5.2%	64.5M YoY+513.7%	10.5M YoY+105.7%	5.11M YoY-53.1%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	45.7B YoY+0.3%	45.5B YoY+135.2%	19.4B YoY+63.9%	11.8B YoY+6.0%	11.1B YoY+42.5%
P/E	366.3× YoY+203.3%	120.8× YoY-7.9%	131.1× YoY+20.0%	109.2×	—
P/S	16.4× YoY-24.9%	21.9× YoY+65.3%	13.2× YoY+20.2%	11.0× YoY-14.5%	12.9× YoY+12.1%
P/B	14.1× YoY-28.0%	19.6× YoY+54.1%	12.7× YoY+32.4%	9.6× YoY-9.6%	10.6× YoY+32.5%
P/FCF	608.1× YoY+340.1%	138.2× YoY-5.0%	145.4× YoY-26.7%	198.2× YoY+32.8%	149.3×
	0.27% YoY-67.0%	0.83% YoY+8.5%	0.76% YoY-16.7%	0.92%	—
	0.16% YoY-77.3%	0.72% YoY+5.2%	0.69% YoY+36.3%	0.50% YoY-24.7%	0.67%
Source filing	10-K	10-K/A	10-K	10-K	10-K

About this data

Source: AXON's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AXON filings on SEC EDGAR → Not investment advice.