Axon Enterprise, Inc. (AXON) Announced Q4 2025 Earnings on February 24, 2026, Reporting Revenue of $797 million for the Quarter and Revenue Growth of 39%

In Q4 2025, Axon Enterprise, Inc. reported that revenue grew 39% year-over-year to $797 million. Adjusted gross margin came in at 61.1%, which was down sequentially due to the impact of tariffs and an increased mix from Platform Solutions. Adjusted EBITDA grew 46% year-over-year to $206 million, outperforming expectations with an adjusted EBITDA margin of 25.9%. Operating cash flow was $217 million for the quarter. For the full year 2025, bookings surpassed $7 billion (up more than 40% from the previous year), and net revenue retention expanded to 125% in the fourth quarter.

Management highlighted substantial momentum across its product lines and new markets. The newly launched AI Era plan accounted for approximately $750 million worth of bookings in its first full year. The company also noted record results internationally, with the international team crossing $1 billion in annual bookings for the first time. Other strategic updates included the announcement of the new Axon Body Mini arriving later in the spring, and the recent acquisitions of 911 tech providers Prepared and Carbyne.... Management emphasized their strategic vision to build the world's largest AI-supercharged global sensor network, seamlessly integrating hardware and software to eliminate manual workflows for their users....

Looking ahead, Axon provided its financial outlook for the full year 2026, guiding for revenue growth in the range of 27% to 30% year-over-year and maintaining an adjusted EBITDA margin expectation of 25.5%. In addition to its 2026 guidance, the company unveiled new 2028 financial targets, which include an approximate revenue target of $6 billion and an adjusted EBITDA margin target of 28%.