AXON · NasdaqGS
Aerospace & Defense · United States
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Axon Enterprise, Inc. provides public safety technology solutions in the United States and internationally. The company operates in two segments, Software and Services, and Connected Devices. The Software and Services segment develops, manufactures, and sells cloud-based software-as-a-service solutions to capture, store, manage, share, and analyze video and other digital evidence. This segment also offers Axon Evidence, Draft One, Axon Records, Axon Standards, Axon Fusus, Axon Assistant, and others. The Connected Devices segment engages in the development, manufacture, and sale of integrated hardware solutions, such as conducted energy devices under the TASER brand, body cameras, fixed and in-car cameras, drone and counter-drone technologies, accessories, extended warranties, and related hardware products, as well as virtual reality training hardware. The company serves first responders across international, federal, state, and local governments, international governmental entities, commercial enterprises, and consumers through direct sales, distribution partners, and third-party resellers. The company was formerly known as TASER International, Inc. and changed its name to Axon Enterprise, Inc. in April 2017. Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona.
Company websiteQ3 2026
Published 2026-11-08
Q3 2026 REPORT HIGHLIGHTS
Software is accelerating, but federal timing, hardware margins and the Skydio funding commitment raise the cash hurdle; our updated base value is $310.
Three Federal Dedrone deployments, totaling approximately $130M, leave the 2026 outlook. The filing supports a timing problem; it does not establish cancellation or a guaranteed recovery date.
Software & Services reached $437.0M, up 43.2%, contributing a computed two-thirds of the company’s incremental year-over-year revenue.
Connected Devices gross margin fell to 43.0% from 49.9%; counter-drone mix, memory costs and new-product scaling matter alongside demand.
Approximately $127.5M cash was paid at the November 5 primary closing; further tender and secondary investments remain conditional.
Negative quarterly FCF and inventory above $550M confirm the old cautions. A much lower share price brings the updated $310 reference close to the market.
Comparable businesses
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No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.
| Metric | AXONAxon Enterprise, Inc.Snapshot 2026-11-11Financial period: 2026-09-30 |
|---|---|
| Market capMarket value, converted to USD | US$25.69B |
| Forward P/EProvider forward earnings estimate | 33.40x |
| EV / EBITDAEnterprise value / trailing EBITDA | 147.94x |
| Revenue growthLatest quarter vs prior-year quarter | 27.9% |
| Operating marginLatest reported quarter | 1.5% |
| Free cash flow yieldTrailing cash flow / market cap | 0.3% |
| Net debt / EBITDANet debt / trailing EBITDA | 7.59x |
| Debt / equityTotal debt / positive book equity | 0.79x |
| Trailing P/ETrailing twelve-month earnings | 101.42x |
| Price / bookPrice / positive book equity per share | 6.82x |
| EV / salesEnterprise value / trailing revenue | 7.60x |
| Earnings growthLatest quarter vs prior-year quarter | — |
| Gross marginTrailing twelve months | 57.3% |
| Net marginTrailing twelve months | 7.6% |
| Return on equityProvider trailing return; positive equity only | 7.6% |
| Free cash flow marginTrailing free cash flow / revenue | 1.9% |
| Dividend yieldIndicated annual dividend / price | — |
| Earnings payoutProvider trailing dividend payout | 0.0% |
| Current ratioCurrent assets / current liabilities | 3.00x |
| BetaProvider historical market sensitivity | 1.47 |
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Reported performance
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Market context
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THE RESEARCH RECORD
FREE RESEARCH PACKET · Q3 2026
Software is accelerating, but federal timing, hardware margins and the Skydio funding commitment raise the cash hurdle; our updated base value is $310.
Research published November 8, 2026 · Download original report
Read Research PacketPresentation · 2026-11-08 · YouTube
Presentation · 2026-08-05 · YouTube
Presentation · 2026-05-07 · YouTube
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