Axon Enterprise, Inc.

AXONUS

Axon Enterprise, Inc., founded in 1993 and headquartered in Scottsdale, Arizona, was previously known as TASER International, Inc. until its rebranding in April 2017. The company specializes in the development, production, and sale of conducted energy devices (CEDs) marketed under its well-known TASER brand, catering to both domestic and international clients. Axon's operations are divided into two primary segments: TASER, and Software and Sensors. In addition to its signature TASER devices, such as the TASER 7, X26P, X2, and consumer models, along with their corresponding cartridges, Axon offers an extensive portfolio of hardware and cloud-based software. These solutions are designed to equip law enforcement agencies with the means to capture, securely archive, manage, share, and analyze video and other digital evidence. Key products in this category include on-officer body cameras, Axon Fleet in-car systems, the Axon Evidence digital evidence management platform, Axon Signal-enabled devices, extended hardware warranties, and vital accessories like docks, cartridges, and batteries. Axon distributes its offerings through multiple channels, including its dedicated direct sales force, various distribution partners, its online storefront, and authorized third-party resellers. Furthermore, the company has established a strategic partnership with Fusus, Inc. to enhance the functionality of Axon Respond and the Fusus Real Time Crime Center in the Cloud solution, providing agencies with real-time operational awareness and more efficient investigative processes.

Founded1993IPO year2001As of2026-08-04
Market Cap
$48.29B
Enterprise Value
$49.40B
EV / LTM Revenue
17.8x
EV / NTM Revenue
11.5x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
11.5x
Gross Profit
19.4x
EBITDA
126.8x
Classification
Sector
Application Software
Sub-sector
Vertical Applications
Listing
AXON
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY38%31%33%33%32%29%
Revenue$863M$1.19B$1.56B$2.08B$2.78B$3.66B$4.73B
Gross Profit$541M$729M$957M$1.24B$1.66B
Gross Profit Margin62.7%61.2%61.3%59.6%59.7%
EBITDA($121M)$228M$196M$430M$263M$332M$429M
EBITDA Margin-14.0%19.1%12.6%20.7%9.4%9.1%9.1%
EBIT($167M)$93M$157M$59M$1M$244M$316M
Net Income($60M)$147M$176M$377M$125M$794M$919M
Free Cash Flow$74M$179M$129M$330M$75M
FCF Margin8.6%15.1%8.3%15.8%2.7%
Short-Term Debt$0M$0M$0M$680M$81M
Long-Term Debt$0M$674M$677M$680M$1.83B
Cash & Cash Equivalents$356M$354M$599M$455M$1.20B
Net Debt($356M)$320M$79M$906M$709M
Net Debt / EBITDA1.4x0.4x2.1x2.7x
Rule of 4052.9%39.5%49.2%36.2%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.