Analyst Consensus ?
ConsensusBuy21 ratings
Bullish1781.0%
Neutral419.0%
Bearish00.0%
Axon Enterprise, Inc. · AXON · FY2026 Q1 · Calendar Q2 2026
Axon Q1 FY2026: AI and Counter-Drone Surge Drive Record Revenue, Raised Guidance
Axon's Q1 FY2026 results signal that AI and counter-drone are transitioning from emerging categories to material growth drivers. Revenue of $807.3 million beat consensus by 3.4%, with AI bookings up 140% year-over-year and Dedrone bookings up 500%. Management raised full-year revenue growth guidance to 30-32%, supported by expanding adoption of the AI Era Plan across large agencies and a $40 million enterprise telecom deal that extends Axon's reach beyond public safety. The stock surged nearly 11% on the report with continued positive drift of roughly 14% afterward. The key tension to watch is whether the proactive inventory build can sustainably buffer memory-cost inflation and whether Dedrone's event-driven bookings convert to recurring infrastructure demand.
Reported After market closeNASDAQIndustrials
$42.82B market cap
90quality score
Company 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.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.61
Consensus $2
EPS surprise
+0.6%
Reported versus consensus
Reported revenue
$807.3M
Consensus $780.7M
Revenue surprise
+3.4%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$531.2Current
$300Low
$663.09Average
$900High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 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 |
|---|---|---|---|---|
| Piper Sandler | Overweight | Overweight | Maintain | Jul 13, 2026 |
| Needham | Buy | Buy | Maintain | Jul 6, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Jun 25, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 8, 2026 |
| UBS | Neutral | Neutral | Maintain | May 7, 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 |
| Morgan Stanley | Overweight | Overweight | 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 $531.2. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Piper Sandler | Analyst unavailable | $724 | $565.8 | +36.3% | Jul 13, 2026 |
| Needham | Analyst unavailable | $750 | $597.04 | +41.2% | Jul 6, 2026 |
| Piper Sandler | James Fish | $674 | $457.33 | +26.9% | Jun 15, 2026 |
| Barclays | Tim Long | $523 | $426.89 | -1.5% | May 8, 2026 |
| Morgan Stanley | Analyst unavailable | $600 | $433.82 | +13.0% | May 7, 2026 |
| Goldman Sachs | Analyst unavailable | $535 | $434.5 | +0.7% | May 7, 2026 |
| UBS | Analyst unavailable | $440 | $416.57 | -17.2% | May 7, 2026 |
| Morgan Stanley | Analyst unavailable | $675 | $391.53 | +27.1% | Apr 8, 2026 |
| Goldman Sachs | Analyst unavailable | $625 | $391.53 | +17.7% | Apr 8, 2026 |
| Robert W. Baird | Analyst unavailable | $800 | $523.63 | +50.6% | Feb 25, 2026 |
| Craig-Hallum | Jeremy Hamblin | $820 | $543.47 | +54.4% | Feb 25, 2026 |
| RBC Capital | David Paige | $735 | $543.24 | +38.4% | Feb 25, 2026 |
| Piper Sandler | James Fish | $690 | $548.22 | +29.9% | Feb 25, 2026 |
| Northcoast Research | Keith Housum | $742 | $591.16 | +39.7% | Jan 6, 2026 |
| Morgan Stanley | Meta Marshall | $713 | $555.06 | +34.2% | Dec 17, 2025 |
| RBC Capital | Analyst unavailable | $860 | $554.37 | +61.9% | Nov 17, 2025 |
| Piper Sandler | James Fish | $753 | $622.38 | +41.8% | Nov 5, 2025 |
| Raymond James | Analyst unavailable | $855 | $867.12 | +61.0% | Aug 5, 2025 |
| Northland Securities | Michael Latimore | $800 | $867.12 | +50.6% | Aug 5, 2025 |
| Needham | Joshua Reilly | $870 | $867.12 | +63.8% | Aug 5, 2025 |
| UBS | Analyst unavailable | $840 | $867.12 | +58.1% | Aug 5, 2025 |
| Craig-Hallum | Analyst unavailable | $900 | $867.12 | +69.4% | Aug 5, 2025 |
| Morgan Stanley | Meta Marshall | $885 | $729.62 | +66.6% | Jul 11, 2025 |
| Barclays | Analyst unavailable | $726 | $506.96 | +36.7% | Feb 27, 2025 |
| Morgan Stanley | Meta Marshall | $700 | $636.39 | +31.8% | Dec 3, 2024 |
| Needham | Joshua Reilly | $525 | $443.98 | -1.2% | Oct 22, 2024 |
| Goldman Sachs | Michael Ng | $441 | $443.98 | -17.0% | Oct 22, 2024 |
| Robert W. Baird | William Power | $400 | $364.39 | -24.7% | Sep 10, 2024 |
| Craig-Hallum | Jeremy Hamblin | $370 | $315.35 | -30.3% | May 7, 2024 |
| Needham | Joshua Reilly | $400 | $311.27 | -24.7% | Apr 10, 2024 |
| Argus Research | John Staszak | $380 | $306.78 | -28.5% | Mar 13, 2024 |
| Credit Suisse | Sami Badri | $300 | $225.13 | -43.5% | Apr 11, 2023 |
| Morgan Stanley | Analyst unavailable | $155 | $168.59 | -70.8% | Dec 13, 2022 |
Track every rating change on AXON the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
+10.6%
Event window
SPY move
-0.3%
Same window
Abnormal move
+10.9%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+13.9%
Up to 20 sessions
AXONSPY benchmark
Follow AXON with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeTranscript intelligence
What changed
Revenue reached a record $807.3 million, up 34% YoY, beating the consensus estimate of $780.7 million by 3.4%. EPS of $1.61 narrowly edged the $1.60 estimate. The stock moved up 10.9% on an abnormal basis versus the benchmark's -0.3% move, with volume at 2.2x baseline. Subsequent drift added another 13.9% over the following sessions.
Guidance delta
Management raised full-year FY2026 revenue growth guidance to 30-32% and reaffirmed an adjusted EBITDA margin target of 25.5%. CapEx outlook remains stable. Free cash flow conversion guidance was maintained despite a proactive inventory investment intended to offset memory-cost inflation.
Key takeaways
- Revenue of $807.3M beat consensus by 3.4%, driven by 34% YoY growth.
- AI bookings surged 140% YoY; AI product revenue grew over 700% YoY off a small base.
- Dedrone counter-drone bookings jumped 500% YoY, with deployments at the Super Bowl and Kentucky Derby.
- A $40M enterprise telecom deal extends Fusus, Axon Body Mini, and Outpost into non-public-safety markets.
- FY2026 revenue guidance raised to 30-32% growth with 25.5% adjusted EBITDA margin target.
- Inventory build positioned to meet demand while cushioning against memory-price volatility.
Management priorities
- General availability of Axon Vision in Q4.
- Continued rollout of AI features within the AI Era Plan and Axon Assistant.
- Integration and rollout of Carbyne and Prepared within the Axon 911 platform.
- FedRAMP certification for Fusus to open federal market opportunities.
- Ongoing integration of Fusus and Dedrone acquisitions, with evaluation of additional strategic investments.
Related earnings events
IndustrialsURI · FY2026 Q2 · Calendar Q3 2026United Rentals Q2: Record Revenue, Raised Guidance, and a Possible Investment-Grade UpgradeNSC · FY2026 Q2 · Calendar Q3 2026Norfolk Southern Beats on Volume Strength as Intermodal and Coal Drive Q2 GrowthHON · FY2026 Q2 · Calendar Q3 2026Honeywell Q2: Beat and Raise as Portfolio Reshaping Nears Completion
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T02:21:13.215608+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T02:21:13.212671+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 . For educational purposes only; not investment advice.