Axon Enterprise, Inc. · AXON · FY2024 Q4 · Calendar Q1 2025
Axon sustains growth focus as AI adoption meets capacity and funding risks
The current analysis supports a constructive growth narrative centered on AI software, TASER 10, drones, international expansion and enterprise contracts. The evidence is balanced by supply constraints, funding uncertainty, competition and execution risks; the analysis does not establish a forward stock-return conclusion.
Earnings scorecard
Reported versus consensusMarket reaction
prior-close to event-session closeAsk FN2 about AXON FY2024 Q4
Transcript, numbers and history already loadedFree account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, the focus shifted from raised guidance and initial AI Era and Dedrone expansion toward maintained guidance, larger-scale operating metrics, TASER 10 capacity constraints, broader international and enterprise traction, and additional execution and funding risks.
Guidance delta
Management maintained its outlook, while the prior-quarter analysis had characterized guidance as raised.
Key takeaways
- Management highlighted revenue above $2 billion, ARR of $1 billion and 123% net revenue retention in the current analysis.
- TASER 10 demand remains strong, but supply constraints are still limiting fulfillment and require capacity expansion.
- AI Era Plan adoption, drone capabilities, international bookings and enterprise contracts are the principal growth themes.
- The current analysis identifies federal funding uncertainty, tariffs, competition and an Arizona headquarters dispute as risks.
Management priorities
- Scale TASER 10 production and reduce the supply gap.
- Extend the AI Era Plan, including real-time translation and report automation.
- Develop drone and autonomous-drone offerings through the Skydio partnership.
- Invest in sensors, robotics and AI-enabled software.
- Expand international sales and the enterprise go-to-market organization.
Follow AXON with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Argus Research | Buy | Buy | Maintain | Sep 3, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 6, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 6, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 6, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 6, 2026 |
| Needham | Buy | Buy | Maintain | Jul 6, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Jun 25, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | May 7, 2026 |
| TD Cowen | Buy | Buy | Maintain | Apr 8, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 8, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Feb 25, 2026 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Sep 29, 2025 |
| B of A Securities | Buy | Buy | Maintain | Aug 6, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Aug 5, 2025 |
| Northland Capital Markets | Outperform | Outperform | Maintain | Aug 5, 2025 |
| Craig-Hallum | Buy | Hold | Upgrade | Aug 5, 2025 |
| Citizens Capital Markets | Market Outperform | Market Outperform | Maintain | Feb 26, 2025 |
| Baird | Outperform | Outperform | Maintain | Dec 6, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | May 10, 2023 |
| Imperial Capital | In Line | In Line | Maintain | May 18, 2020 |
| Ladenburg Thalmann | Neutral | Buy | Downgrade | Oct 15, 2018 |
| CL King | Neutral | Buy | Downgrade | Mar 16, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $413.35. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Argus Research | Analyst unavailable | $600 | $506.98 | +45.2% | Sep 3, 2026 |
| Morgan Stanley | Meta Marshall | $640 | $528.41 | +54.8% | Aug 6, 2026 |
| Goldman Sachs | Analyst unavailable | $715 | $561.47 | +73.0% | Aug 6, 2026 |
| Piper Sandler | Analyst unavailable | $732 | $551.4 | +77.1% | Aug 6, 2026 |
| Barclays | Analyst unavailable | $688 | $609.49 | +66.4% | Aug 6, 2026 |
| Piper Sandler | Analyst unavailable | $724 | $565.8 | +75.2% | Jul 13, 2026 |
| Needham | Analyst unavailable | $750 | $597.04 | +81.4% | Jul 6, 2026 |
| Piper Sandler | James Fish | $674 | $457.33 | +63.1% | Jun 15, 2026 |
| Barclays | Tim Long | $523 | $426.89 | +26.5% | May 8, 2026 |
| Morgan Stanley | Analyst unavailable | $600 | $433.82 | +45.2% | May 7, 2026 |
| Goldman Sachs | Analyst unavailable | $535 | $434.5 | +29.4% | May 7, 2026 |
| UBS | Analyst unavailable | $440 | $416.57 | +6.4% | May 7, 2026 |
| Morgan Stanley | Analyst unavailable | $675 | $391.53 | +63.3% | Apr 8, 2026 |
| Goldman Sachs | Analyst unavailable | $625 | $391.53 | +51.2% | Apr 8, 2026 |
| Robert W. Baird | Analyst unavailable | $800 | $523.63 | +93.5% | Feb 25, 2026 |
| Craig-Hallum | Jeremy Hamblin | $820 | $543.47 | +98.4% | Feb 25, 2026 |
| RBC Capital | David Paige | $735 | $543.24 | +77.8% | Feb 25, 2026 |
| Piper Sandler | James Fish | $690 | $548.22 | +66.9% | Feb 25, 2026 |
| Northcoast Research | Keith Housum | $742 | $591.16 | +79.5% | Jan 6, 2026 |
| Morgan Stanley | Meta Marshall | $713 | $555.06 | +72.5% | Dec 17, 2025 |
| RBC Capital | Analyst unavailable | $860 | $554.37 | +108.1% | Nov 17, 2025 |
| Piper Sandler | James Fish | $753 | $622.38 | +82.2% | Nov 5, 2025 |
| Raymond James | Analyst unavailable | $855 | $867.12 | +106.8% | Aug 5, 2025 |
| Northland Securities | Michael Latimore | $800 | $867.12 | +93.5% | Aug 5, 2025 |
| Needham | Joshua Reilly | $870 | $867.12 | +110.5% | Aug 5, 2025 |
| UBS | Analyst unavailable | $840 | $867.12 | +103.2% | Aug 5, 2025 |
| Craig-Hallum | Analyst unavailable | $900 | $867.12 | +117.7% | Aug 5, 2025 |
| Morgan Stanley | Meta Marshall | $885 | $729.62 | +114.1% | Jul 11, 2025 |
| Barclays | Analyst unavailable | $726 | $506.96 | +75.6% | Feb 27, 2025 |
| Morgan Stanley | Meta Marshall | $700 | $636.39 | +69.3% | Dec 3, 2024 |
| Needham | Joshua Reilly | $525 | $443.98 | +27.0% | Oct 22, 2024 |
| Goldman Sachs | Michael Ng | $441 | $443.98 | +6.7% | Oct 22, 2024 |
| Robert W. Baird | William Power | $400 | $364.39 | -3.2% | Sep 10, 2024 |
| Craig-Hallum | Jeremy Hamblin | $370 | $315.35 | -10.5% | May 7, 2024 |
| Needham | Joshua Reilly | $400 | $311.27 | -3.2% | Apr 10, 2024 |
| Argus Research | John Staszak | $380 | $306.78 | -8.1% | Mar 13, 2024 |
| Credit Suisse | Sami Badri | $300 | $225.13 | -27.4% | Apr 11, 2023 |
| Morgan Stanley | Analyst unavailable | $155 | $168.59 | -62.5% | Dec 13, 2022 |
Track every rating change on AXON the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAxon 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.…
Historical context
All AXON earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CTAS Cintas Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | -3.4% | Cintas raises FY2027 guidance as Q1 growth broadens |
| PAYX Paychex, Inc. | FY2027 Q1 · Calendar Q3 2026 | +1.5% | -8.8% | Paychex maintains FY27 outlook as PEO and AI momentum strengthen |
| FPS Forgent Power Solutions, Inc. | FY2026 Q4 · Calendar Q3 2026 | +4.3% | +9.5% | Forgent Power Solutions pairs record results with an aggressive FY27 buildout |
| CPRT Copart, Inc. | FY2026 Q4 · Calendar Q3 2026 | -8.7% | -2.6% | Copart pairs international growth with ACV investment amid higher costs |
| SUNB Sunbelt Rentals Holdings Inc | FY2027 Q1 · Calendar Q3 2026 | +19.2% | +5.9% | Sunbelt raises FY27 outlook as specialty rental demand accelerates |
| FRO Frontline Plc | FY2026 Q2 · Calendar Q3 2026 | +8.0% | +1.0% | Frontline posts a record quarter as tanker rates remain elevated |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the AXON recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-11T00:01:39.744939+00:00
- Polygon adjusted daily market bars · 2026-10-04T12:30:44.354432+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T12:30:44.350892+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.