A plain-English look at Axon Enterprise's revenue, profit, and market value, built entirely from its most recent public filings and market data.
A TASER Maker Turned Software Company
Most people know Axon Enterprise for the TASER, but the Scottsdale, Arizona company now describes itself as building a full "public safety operating system." That means stun guns and body cameras, yes, but also cloud software that stores digital evidence, plus drones and robotic security tools sold to police departments and other agencies.
Two Businesses Under One Roof
Axon organizes its work into two segments: Software and Services, and Connected Devices. The hardware side—conducted energy devices, cameras, drones—actually brings in the majority of revenue, even as the company leans harder into subscription-style software and cloud services.
What the Revenue Number Tells Us
In its fiscal year 2025, Axon reported revenue of $2.8B. That's a meaningful sum for a company built around law-enforcement hardware, and it reflects years of expansion beyond the original TASER product line into evidence management and other cloud tools.
Growth That Stands Out
What's notable isn't just the size of that revenue figure but the pace of change behind it: Axon's revenue grew 222% from fiscal year 2021 to fiscal year 2025. That kind of multi-year climb suggests a company that has been steadily winning new customers and expanding what it sells to existing ones, rather than growing through a single one-time jump.
Profitability, in Plain Terms
Axon is profitable, posting net income of $124.7M in FY2025. Set against $2.8B in revenue, that works out to a net margin of 4.5%—meaning for every dollar of sales, about four and a half cents made it through to the bottom line after all costs and expenses.
Where the Money Goes Before It Becomes Profit
The company's gross margin sits at 59.7%, which measures what's left after the direct costs of making and delivering its products, before other expenses like research, sales, and administration are subtracted. The gap between that 59.7% gross margin and the much thinner 4.5% net margin shows how much gets absorbed by everything else it takes to run a hardware-and-software business at this scale.
Sizing Up the Balance Sheet
Axon's total assets stand at $7.0B, giving a sense of the resources—cash, equipment, receivables, and more—the company has built up over time. That figure is more than double its annual revenue, which is common for a company that has grown quickly and holds a mix of physical inventory and long-term investments.
How the Market Currently Values It
On the stock market, Axon (NASDAQ: AXON) carries a market capitalization of $39.2B, with shares recently trading at $510.28 on a 15-minute delayed basis. That valuation is well above the company's revenue and considerably further above its net income, reflected in a price-to-earnings ratio of 337.9—a figure that signals investors are pricing in a great deal of future growth rather than just current profits.
A Stock Well Off Its Recent Peak
Despite that valuation, shares are currently trading 41% below their 52-week high, a reminder that even richly valued, fast-growing companies see meaningful swings in how the market prices them from month to month.
A Long Public History
Axon has been a publicly traded company since its IPO in June 2001, giving it more than two decades on the public markets. Today it employs approximately 6,300 people and is classified within the Tools & Hardware industry, even as software increasingly shapes its story.
The Bottom Line
Taken together, the numbers describe a company that has grown revenue dramatically over four years, turned a modest but real profit, and is valued by the market at a level that implies confidence in future growth well beyond where earnings stand today. This summary is factual reporting drawn from public filings and market data, not investment advice.
