← Filings of AXON

Tables in the 10-Q of AXON ENTERPRISE, INC.

58 tables with numbers, filed Nov 6, 2026. Each one downloads as a CSV for Excel or Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed. Open the filing on sec.gov ↗

	Page
Special Note Regarding Forward-Looking Statements	ii
PART I - FINANCIAL INFORMATION	1
	Item 1. Financial Statements (unaudited)	1
	Consolidated Balance Sheets	2
	Consolidated Statements of Operations and Comprehensive Income	3
	Consolidated Statements of Stockholders’ Equity	4
	Consolidated Statements of Cash Flows	6

	September 30, 2026	December 31, 2025
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$1,458,817		$1,201,147
Short-term investments	181,587		505,417
Marketable securities	14,751		27,213
Accounts and notes receivable, net of allowance of $4,451 and $4,198 as of September 30, 2026 and December 31, 2025, respectively	838,294		777,486

	Three Months Ended September 30,	Nine Months Ended September 30,
	2026	2025		2026	2025
Net sales from products	$471,524		$405,399		$1,430,898	$1,122,655
Net sales from services	437,030		305,242		1,189,390	860,157
Net sales	908,554		710,641		2,620,288	1,982,812
Cost of product sales	268,629		203,173		744,646	566,861
Cost of service sales	124,947		80,120		336,931	219,121
Cost of sales	393,576		283,293		1,081,577	785,982

	Common Stock	Additional Paid-in Capital	Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount		Shares		Amount
Balance, December 31, 2025	80,211,537	$1		$2,475,035			20,233,434		$(157,242)		$936,670		$(11,806)		$3,242,658
Issuance of common stock under employee plans, net	189,933	—		(12,169)			—		—		—		—		(12,169)
Stock-based compensation	—	—		134,701			—		—		—		—		134,701
Issuance of replacement awards in connection with acquisitions	—	—		1,345			—		—		—		—		1,345
Conversion of convertible debt and shares received from convertible note hedge, net	170,731	—		22,979		41,139		(22,922)		—		—		57
Tax effect of redemption and voluntary conversions of convertible debt	—	—		(2,327)			—		—		—		—		(2,327)

	Three Months Ended September 30, 2026	Three Months Ended September 30, 2025
	Connected Devices	Software and Services		Total	Connected Devices	Software and Services		Total
TASER (1)	$233,040		$—		$233,040		$237,950		$—	$237,950
Personal Sensors (2)	113,532		—		113,532		106,677		—	106,677
Platform Solutions (3)	124,952		—		124,952		60,772		—	60,772
Software and Services	—		437,030		437,030		—		305,242	305,242
Total	$471,524		$437,030		$908,554		$405,399		$305,242	$710,641

	Nine Months Ended September 30, 2026	Nine Months Ended September 30, 2025
	Connected Devices	Software and Services		Total	Connected Devices	Software and Services		Total
TASER (1)	$727,214		$—		$727,214		$649,679		$—	$649,679
Personal Sensors (2)	317,675		—		317,675		287,901		—	287,901
Platform Solutions (3)	386,009		—		386,009		185,075		—	185,075
Software and Services	—		1,189,390		1,189,390		—		860,157	860,157
Total	$1,430,898		$1,189,390		$2,620,288		$1,122,655		$860,157	$1,982,812

	As of September 30, 2026
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Fair Value	Cash and Cash Equivalents	Marketable Securities	Short-Term Investments
Cash	$160,684	$—	$—	$160,684	$160,684	$—	$—
Level 1:
Money market funds	1,057,391	—	—	1,057,391	1,057,391	—	—
U.S. Treasury bills	99,138	—	(7)	99,131	50,110	—	49,021
Marketable securities	13,100	1,651	—	14,751	—	14,751	—
Agency bonds	400	—	—	400	—	—	400

	As of December 31, 2025
	Amortized Cost	Gross Unrealized Gains		Gross Unrealized Losses	Fair Value	Cash and Cash Equivalents	Marketable Securities	Short-Term Investments
Cash	$168,294		$—		$—	$168,294		$168,294	$—	$—
Level 1:
Money market funds	821,711		—		—	821,711		821,711	—	—
Marketable securities	15,093		12,120		—	27,213		—	27,213	—
U.S. Treasury bills	231,766		69		—	231,835		200,200	—	31,635
Agency bonds	6,456		3		—	6,459		—	—	6,459

	September 30, 2026	December 31, 2025
Raw materials	$273,597		$152,680
Work-in-process	12,299		8,866
Finished goods	293,329		180,265
Total inventory	$579,225		$341,811

		September 30, 2026	December 31, 2025
	Useful Life	Gross Carrying Amount	Accumulated Amortization		Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization		Net Carrying Amount
Amortizable (definite-lived) intangible assets:
Developed technology	3 ‑ 8 years	$262,122		$(73,940)		$188,182		$183,122		$(44,399)	$138,723
Customer relationships	5 ‑ 10 years	68,193		(14,875)		53,318		41,329		(8,960)	32,369
Issued trademarks	3 ‑ 23 years	11,984		(6,187)		5,797		9,900		(3,856)	6,044
Issued patents	8 ‑ 26 years	3,021		(1,642)		1,379		3,017		(1,602)	1,415
Domain names	5 ‑ 10 years	5,022		(3,120)		1,902		3,043		(2,738)	305

	Nine Months Ended September 30,
	2026	2025
Cash flows from operating activities:
Net income	$255,745		$121,911
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation	435,062		425,635
Gain on strategic investments and marketable securities, net	(257,616)		(134,647)
Debt inducement expense	—		28,584

	Nine Months Ended September 30,
	2026	2025
Balance, beginning of period	$10,858		$8,284
Utilization of reserve	(10,864)		(6,757)
Warranty expense	10,188		9,378
Balance, end of period	$10,182		$10,905

	Three Months Ended September 30,	Nine Months Ended September 30,
	2026	2025		2026	2025
Numerator for basic and diluted earnings per share:
Net income (loss)	$57,006		$(2,186)		$255,745	$121,911
Denominator:
Weighted average shares outstanding	81,044		78,416		80,592	77,774
Dilutive effect of stock-based awards	1,340		—		1,352	1,846
Dilutive effect of 2027 Notes (1)	—		—		31	1,092

	Three Months Ended September 30,	Nine Months Ended September 30,
	2026	2025		2026	2025
Stock-based awards	3,256		5,138		3,441	3,299
2027 Notes	—		1,235		—	401
2027 Warrants	1,682		3,017		1,815	1,511
2031 Notes	2,566		—		2,769	—
Total potentially dilutive securities	7,504		9,390		8,025	5,211

2026 remaining	$13,445
2027	52,567
2028	50,334
2029	47,381
2030	35,772
2031	18,386
Thereafter	32,693
Total	$250,578

	September 30, 2026	December 31, 2025
Equity securities:
Non-marketable equity securities (1)	$918,922		$416,236
Debt securities:
Non-marketable debt securities	6,012		597
Total strategic investments	$924,934		$416,833

	September 30, 2026	December 31, 2025
Accrued commissions	$83,953		$150,811
Accrued third-party product costs	78,597		73,497
Accrued cloud hosting fees	32,689		14,049
Accrued professional and IT fees	30,696		24,359
Accrued inventory in transit	30,468		15,728
Accrued salaries and benefits	29,060		35,251
Accrued income and other taxes	27,601		27,339

	September 30, 2026	December 31, 2025
2030 Notes	$1,000,000		$1,000,000
2031 Notes	1,150,000		—
2033 Notes	750,000		750,000
2027 Notes	—		81,110
Total principal	2,900,000		1,831,110
Unamortized debt issuance costs	(31,963)		(20,388)
Total carrying amount of notes payable, net	2,868,037		1,810,722

	Maturity Date	Conversion Price per Share	Conversion Rate per $1,000 Par Value	Number of Shares
2031 Notes	September 15, 2031	$652.06	1.5336 shares	1,763,640

	Proceeds (in thousands)	Initial Shares		Strike Price		First Expiration
2027 Warrants	$124,269		3,016,680		$338.86		March 15, 2028

	Operational Goals (1)(in millions)	Stock Price Goal		Minimum Service Requirement
Tranche (2)	Revenue	Adj. EBITDA			Employee XSP	CEO Performance Award	Goal Expiration
1	$1,834	or	$382	and	$247.40	and	June 2025	December 2028	December 31, 2026
2	2,293	or	497	and	309.25	and	December 2025	December 2028	December 31, 2027
3	2,866	or	611	and	386.56	and	June 2026	December 2029	December 31, 2028
4	3,583	or	792	and	483.20	and	December 2026	December 2029	December 31, 2029
5	4,479	or	1,027	and	604.00	and	June 2027	December 2030	December 31, 2030
6	5,599	or	1,339	and	755.00	and	December 2027	December 2030	December 31, 2031

	Unrealized (Losses) Gainson Available-for-SaleInvestments (1)	Foreign Currency Translation		Total
Balance, December 31, 2025	$83		$(11,889)		$(11,806)
Other comprehensive income (loss)	(111)		647		536
Balance, March 31, 2026	(28)		(11,242)		(11,270)
Other comprehensive loss	—		(5,147)		(5,147)
Balance, June 30, 2026	(28)		(16,389)		(16,417)
Other comprehensive income (loss)	(36)		2,261		2,225
Balance, September 30, 2026	$(64)		$(14,128)		$(14,192)

	Three Months Ended September 30,	Dollar Change		Percent Change
	2026	2025
Connected Devices segment:
TASER (1)	$233,040		25.6%		$237,950	33.5%	$(4,910)	(2.1)%
Personal Sensors (2)	113,532		12.5		106,677	15.0	6,855	6.4
Platform Solutions (3)	124,952		13.8		60,772	8.5	64,180	105.6
Total Connected Devices segment	471,524		51.9		405,399	57.0	66,125	16.3
Total Software and Services segment	437,030		48.1		305,242	43.0	131,788	43.2

	Nine Months Ended September 30,	Dollar Change		PercentChange
	2026	2025
Connected Devices segment:
TASER (1)	$727,214		27.8%		$649,679	32.8%	$77,535	11.9%
Personal Sensors (2)	317,675		12.1		287,901	14.5	29,774	10.3
Platform Solutions (3)	386,009		14.7		185,075	9.3	200,934	108.6
Total Connected Devices segment	1,430,898		54.6		1,122,655	56.6	308,243	27.5
Total Software and Services segment	1,189,390		45.4		860,157	43.4	329,233	38.3

Tables in the 10-Q of AXON ENTERPRISE, INC.

Table 1 after “FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2026”

Table 2 after “(in thousands, except share data)”

Table 3 after “(unaudited)”

Table 4 after “(unaudited)”

Table 5 after “Table of Contents”

Table 6 after “(unaudited)”

Table 7 after “Changes in our estimated product warranty liabilities were as follows (in thousands):”

Table 8 after “The calculation of the weighted average number of shares outstanding and earnings per share is as follows (in thousands except per share dat”

Table 9 after “n thousands):”

Table 10 after “The following table presents our revenues by primary product and service offering and reportable segment (in thousands):”

Table 11 after “Table of Contents”

Table 12 after “The following table presents our revenues disaggregated by geography (dollars in thousands):”

Table 13 after “The following tables summarize our cash, cash equivalents, marketable securities and available-for-sale debt investments at September 30, 20”

Table 14 after “Table of Contents”

Table 15 after “(in thousands):”

Table 16 after “were as follows (in thousands):”

Table 17 after “and December 31, 2025 (in thousands):”

Table 18 after “, the next five years ended December 31, and thereafter, is as follows (in thousands):”

Table 19 after “The following table presents the carrying value of our strategic investments at September 30, 2026 and December 31, 2025 (in thousands):”

Table 20 after “(in thousands):”

Table 21 after “(in thousands):”

Table 22 after “(in thousands):”

Table 23 after “Table of Contents”

Table 24 after “Interest expense related to the 2031 Notes was as follows (in thousands):”

Table 25 after “Interest expense related to the Senior Notes was as follows (in thousands):”

Table 26 after “Interest expense related to the 2027 Notes was as follows (in thousands):”

Table 27 after “The estimated fair value of our outstanding debt at September 30, 2026 and December 31, 2025 is as follows (in thousands):”

Table 28 after “2027 Convertible Note Warrants”

Table 29 after “independent vesting conditions are described in the following table:”

Table 30 after “The following table summarizes the composition of stock-based compensation expense for the three and nine months ended September 30, 2026 an”

Table 31 after “The following tables reflect the changes in accumulated other comprehensive income (loss), net of tax (in thousands):”

Table 32 after “Table of Contents”

Table 33 after “):”

Table 34 after “Table of Contents”

Table 35 after “The following table presents supplemental information included within the measure of profit or loss, adjusted gross margin, reviewed by our ”

Table 36 after “The following table presents supplemental information included within the measure of profit or loss, adjusted gross margin, reviewed by our ”

Table 37 after “as the percentage relationship to total net sales (dollars in thousands):”

Table 38 after “The following table presents our revenues disaggregated by geography (dollars in thousands):”

Table 39 after “Net sales by product line were as follows (dollars in thousands):”

Table 40 after “SG&A expenses were as follows (dollars in thousands):”

Table 41 after “R&D expenses were as follows (dollars in thousands):”

Table 42 after “Interest income (expense), net, was as follows (in thousands):”

Table 43 after “, was as follows (in thousands):”

Table 44 after “Provision for income taxes and effective tax rates were as follows (dollars in thousands):”

Table 45 after “The following table presents data from our consolidated statements of operations as well as the percentage relationship to total net sales (”

Table 46 after “The following table presents our revenues disaggregated by geography (dollars in thousands):”

Table 47 after “Net sales by product line were as follows (dollars in thousands):”

Table 48 after “SG&A expenses were as follows (dollars in thousands):”

Table 49 after “R&D expenses were as follows (dollars in thousands):”

Table 50 after “Interest income (expense), net, was as follows (in thousands):”

Table 51 after “Other income, net, was as follows (in thousands):”

Table 52 after “Provision for (benefit from) income taxes and effective tax rates were as follows (dollars in thousands):”

Table 53 after “EBITDA and adjusted EBITDA reconcile to net income as follows (in thousands):”

Table 54 after “Adjusted gross margin reconciles to gross margin as follows (in thousands):”

Table 55 after “Table of Contents”

Table 56 after “Summary”

Table 57 after “The following table summarizes our cash flows from operating, investing and financing activities (in thousands):”

Table 58 after “Exhibits”

3.1	Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to theQuarterly Report on Form 10-Q, filed August 9, 2022)
3.2	Bylaws, as amended and restated (incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K, filed December 21, 2023)
4.1	Base Indenture, dated as of September 18, 2026, between Axon Enterprise, Inc. and U.S. Bank Trust Company, National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, filed September 21, 2026)
4.2	First Supplemental Indenture, dated as of September 18, 2026, between Axon Enterprise, Inc. and U.S. Bank Trust Company, National Association, as trustee (incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K, filed September 21, 2026)
4.3	Form of 0% Convertible Senior Note due 2031 (incorporated by reference to Exhibit A in Exhibit 4.2 to the Current Report on Form 8-K, filed September 21, 2026)
10.1	Form of Capped Call Confirmation (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K, filed September 21, 2026)
10.2	Amendment No. 2, dated September 15, 2026 amending the Credit Agreement dated December 15, 2022, among the Company, the Lenders party thereto and the Administrative Agent (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K, filed September 21, 2026)
31.1*	Principal Executive Officer Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a)