How does Axon Enterprise (AXON) make money?

Axon Enterprise (AXON) primarily makes money through Software And Sensors Segment, which accounts for 29.7% of total revenue. For TTM through Q4 2025, Axon Enterprise generated $2.78B in total revenue with a net profit margin of 4.5%.

What is Axon Enterprise (AXON) gross profit margin?

Axon Enterprise (AXON) reported a gross profit margin of 59.7% for TTM through Q4 2025, equivalent to $1.66B in gross profit. This means Axon Enterprise retains 59.7% of each revenue unit after direct costs of production.

What is Axon Enterprise (AXON) operating profit margin?

Axon Enterprise (AXON) reported an operating profit margin of 0% for TTM through Q4 2025, equivalent to $1.04M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Axon Enterprise (AXON) net profit margin?

Axon Enterprise (AXON) reported a net profit margin of 4.5% for TTM through Q4 2025, equivalent to $124.91M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Axon Enterprise (AXON) invest in R&D?

Axon Enterprise (AXON) invested $624.26M in research and development in TTM through Q4 2025 (22.5% of total revenue). R&D spending reflects investment in future products, services, and technologies.

How much does Axon Enterprise (AXON) spend on capital expenditures?

Axon Enterprise (AXON) spent $136.26M on capital expenditures in TTM through Q4 2025 (4.9% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Axon Enterprise (AXON) free cash flow?

Axon Enterprise (AXON) generated $75.08M in free cash flow for TTM through Q4 2025 (2.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What are Axon Enterprise (AXON) main revenue segments?

Axon Enterprise (AXON) reports revenue across 6 reportable product segments, led by Software And Sensors Segment at 29.7% of total revenue in TTM through Q4 2025. The full segment-by-segment breakdown is shown in the revenue-by-segment table on this page.

Where does Axon Enterprise (AXON) generate most of its revenue?

Geographically, 82.9% of Axon Enterprise (AXON) revenue came from UNITED STATES in the most recent annual filing. The full regional split is shown in the revenue-by-geography table on this page.

How Axon Enterprise (AXON) Makes Money: A Visual Guide

Axon Enterprise (AXON) generated $2.78B in revenue, earning $124.91M in net profit (4.5% margin). Its largest revenue source is Software And Sensors Segment (29.7% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

In TTM through Q4 2025, Axon Enterprise (AXON) generated revenue across 6 reportable product segments; the largest contributor was Software And Sensors Segment at 29.7%, followed by TASER X2 (22.6%) and Taser Weapons Segment (17.7%). Geographically, UNITED STATES accounted for 82.9% of revenue, followed by Non-US (17.1%).

Axon Enterprise (AXON) Income Statement Flow — TTM through Q4 2025

Calculated from the four most recent reported quarters, ending December 31, 2025 (reported February 25, 2026).

Axon Enterprise (AXON) Revenue by Product Segment — TTM through Q4 2025

Software And Sensors Segment
Revenue
$825.05M
% of total
29.7%
TASER X2
Revenue
$626.94M
% of total
22.6%
Taser Weapons Segment
Revenue
$492.05M
% of total
17.7%
Software and Sensors Segment
Revenue
$380.68M
% of total
13.7%
Axon Body
Revenue
$272.37M
% of total
9.8%
Platform Solutions
Revenue
$182.44M
% of total
6.6%
Total
Revenue
$2.78B
% of total
100%

Segment	Revenue	% of total
Software And Sensors Segment	$825.05M	29.7%
TASER X2	$626.94M	22.6%
Taser Weapons Segment	$492.05M	17.7%
Software and Sensors Segment	$380.68M	13.7%
Axon Body	$272.37M	9.8%
Platform Solutions	$182.44M	6.6%
Total	$2.78B	100%

View Axon Enterprise (AXON) revenue history

Axon Enterprise (AXON) Revenue by Geography — TTM through Q4 2025

Aggregated across the four most recent quarters, matching the TTM through Q4 2025 income statement above. Region totals sum quarterly disclosures; minor differences vs the company's annual filing can occur if reported regions changed mid-year.

UNITED STATES
Revenue
$2.31B
% of total
82.9%
Non-US
Revenue
$474.52M
% of total
17.1%
Total
Revenue
$2.78B
% of total
100%

Region	Revenue	% of total
UNITED STATES	$2.31B	82.9%
Non-US	$474.52M	17.1%
Total	$2.78B	100%

View Axon Enterprise (AXON) revenue history

Frequently asked questions

How does Axon Enterprise (AXON) make money?: Axon Enterprise (AXON) primarily makes money through Software And Sensors Segment, which accounts for 29.7% of total revenue. For TTM through Q4 2025, Axon Enterprise generated $2.78B in total revenue with a net profit margin of 4.5%.
What is Axon Enterprise (AXON) gross profit margin?: Axon Enterprise (AXON) reported a gross profit margin of 59.7% for TTM through Q4 2025, equivalent to $1.66B in gross profit. This means Axon Enterprise retains 59.7% of each revenue unit after direct costs of production.
What is Axon Enterprise (AXON) operating profit margin?: Axon Enterprise (AXON) reported an operating profit margin of 0% for TTM through Q4 2025, equivalent to $1.04M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Axon Enterprise (AXON) net profit margin?: Axon Enterprise (AXON) reported a net profit margin of 4.5% for TTM through Q4 2025, equivalent to $124.91M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Axon Enterprise (AXON) invest in R&D?: Axon Enterprise (AXON) invested $624.26M in research and development in TTM through Q4 2025 (22.5% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Axon Enterprise (AXON) spend on capital expenditures?: Axon Enterprise (AXON) spent $136.26M on capital expenditures in TTM through Q4 2025 (4.9% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Axon Enterprise (AXON) free cash flow?: Axon Enterprise (AXON) generated $75.08M in free cash flow for TTM through Q4 2025 (2.7% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What are Axon Enterprise (AXON) main revenue segments?: Axon Enterprise (AXON) reports revenue across 6 reportable product segments, led by Software And Sensors Segment at 29.7% of total revenue in TTM through Q4 2025. The full segment-by-segment breakdown is shown in the revenue-by-segment table on this page.
Where does Axon Enterprise (AXON) generate most of its revenue?: Geographically, 82.9% of Axon Enterprise (AXON) revenue came from UNITED STATES in the most recent annual filing. The full regional split is shown in the revenue-by-geography table on this page.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
Where do segment and geographic numbers come from?: Product-segment shares come from the same TTM income statement that powers the Sankey chart. Geographic splits are first rebuilt from the four most recent quarterly geographic-segmentation filings so they align with the same TTM window; if quarterly geo data is missing, we fall back to the latest annual disclosure (the table heading shows which one is in use).
When was this data last updated?: Based on company filings through TTM through Q4 2025.