Axon Enterprise (AXON) Stock Rises on Q4 2025 Earnings

Axon Enterprise Inc. (AXON) reported Q4 2025 results, with the stock up 14.05% since market close.

Key income-statement highlights:

Total revenues of $796.7 million (up 38.53% year-over-year).

Gross profit of $461.3 million (up 33.38% year-over-year).

Cost of sales of $335.4 million (up 46.29% year-over-year).

Operating loss of $50.1 million (a 218.11% year-over-year change).

Net income attributable to common shareholders of $2.7 million, with diluted earnings per share of $0.03 (net income down 97.97% and EPS down 98.2% year-over-year).

Cash flow and balance-sheet snapshot:

Cash provided by operating activities of $2.7 million (down 98.9% year-over-year).

Capital expenditures (purchases of property, plant and equipment) of $26.6 million (up 7.39% year-over-year).

Cash and cash equivalents of $1.2 billion (up 164.08% year-over-year).

Total liabilities of $3.8 billion (up 75.03% year-over-year).

In summary, Axon (AXON) delivered strong top-line growth and expanded cash reserves, while profitability metrics swung sharply—net income and operating results were materially weaker year-over-year, and liabilities increased meaningfully.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Axon Enterprise Inc. Insider Trading Activity

Axon Enterprise Inc. insiders have traded $AXON stock on the open market 107 times in the past 6 months. Of those trades, 0 have been purchases and 107 have been sales.

Here’s a breakdown of recent trading of $AXON stock by insiders over the last 6 months:

PATRICK W SMITH (CHIEF EXECUTIVE OFFICER) has made 0 purchases and 75 sales selling 50,000 shares for an estimated $32,193,503.
JOSHUA ISNER (PRESIDENT) has made 0 purchases and 10 sales selling 22,041 shares for an estimated $12,144,156.
BRITTANY BAGLEY (COO & CFO) has made 0 purchases and 9 sales selling 10,370 shares for an estimated $6,927,113.
JENNIFER H MAK (Chief Accounting Officer) has made 0 purchases and 5 sales selling 2,254 shares for an estimated $1,324,602.
JEFFREY C KUNINS (CPO & CTO) has made 0 purchases and 5 sales selling 1,797 shares for an estimated $968,992.
JERI WILLIAMS has made 0 purchases and 3 sales selling 200 shares for an estimated $130,317.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Axon Enterprise Inc. Hedge Fund Activity

We have seen 548 institutional investors add shares of Axon Enterprise Inc. stock to their portfolio, and 692 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 1,750,713 shares (-74.9%) from their portfolio in Q4 2025, for an estimated $994,282,434
BAILLIE GIFFORD & CO added 1,516,099 shares (+1198.7%) to their portfolio in Q4 2025, for an estimated $861,038,105
EDGEWOOD MANAGEMENT LLC added 1,490,528 shares (+inf%) to their portfolio in Q4 2025, for an estimated $846,515,567
WELLINGTON MANAGEMENT GROUP LLP added 1,179,038 shares (+326.9%) to their portfolio in Q4 2025, for an estimated $669,611,051
CAPITAL WORLD INVESTORS removed 773,024 shares (-47.5%) from their portfolio in Q4 2025, for an estimated $439,023,520
ALLIANCEBERNSTEIN L.P. removed 606,691 shares (-87.6%) from their portfolio in Q4 2025, for an estimated $344,558,019
FMR LLC removed 441,140 shares (-14.6%) from their portfolio in Q4 2025, for an estimated $250,536,640

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Axon Enterprise Inc. Government Contracts

We have seen $72,238,625 of award payments to $AXON over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

PROCUREMENT OF CONGRESSIONAL MANDATED BODY WORN CAMERA (BWC) COMMODITIES AND SERVICES TO INCLUDE AUTOMATICA...: $5,076,758
TASER SUPPLIES FOR CUSTOMS AND BORDER PROTECTION: $3,960,727
THIS DELIVERY ORDER PROCURES TASER SUPPLIES/CARTRIDGES UNDER THE ICE INDEFINITE DELIVERY/INDEFINITE QUANTIT...: $3,846,869
THIS DELIVERY AWARD PROCURES TASER WEAPONS AND REPLACEMENT SUPPLIES/CARTRIDGES FOR ICE- OFFICE OF FIREARMS ...: $3,527,756
TASK ORDER FOR DEMS: $3,402,000

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Axon Enterprise Inc. Analyst Ratings

Wall Street analysts have issued reports on $AXON in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Morgan Stanley issued a "Overweight" rating on 12/17/2025
RBC Capital issued a "Outperform" rating on 11/17/2025
JMP Securities issued a "Market Outperform" rating on 09/29/2025
Needham issued a "Buy" rating on 09/24/2025

To track analyst ratings and price targets for Axon Enterprise Inc., check out Quiver Quantitative's $AXON forecast page.

Axon Enterprise Inc. Price Targets

Multiple analysts have issued price targets for $AXON recently. We have seen 8 analysts offer price targets for $AXON in the last 6 months, with a median target of $733.0.

Here are some recent targets:

Joshua Reilly from Needham set a target price of $600.0 on 02/20/2026
Meta Marshall from Morgan Stanley set a target price of $713.0 on 12/17/2025
An analyst from RBC Capital set a target price of $860.0 on 11/17/2025
Tim Long from Barclays set a target price of $702.0 on 11/06/2025
Andrew Spinola from UBS set a target price of $610.0 on 11/05/2025
James Fish from Piper Sandler set a target price of $753.0 on 11/05/2025
Michael Ng from Goldman Sachs set a target price of $800.0 on 11/05/2025