The earnings call reflects strong business growth with significant revenue and bookings increases, driven by robust product adoption and successful large deals. The company is expanding internationally and increasing its guidance, indicating confidence in future performance. However, there are challenges related to tariffs and scaling new hardware products.

Company Guidance -

Q3 2025

During Axon's Q2 2025 earnings call, the company reported a 33% year-over-year revenue increase to $669 million, marking their 14th consecutive quarter of over 25% revenue growth. Software and services revenue grew 39% to $292 million, while connected devices revenue rose 29% to $376 million. The company's net revenue retention was at 124%, maintaining above 120% for 20 consecutive quarters. Axon raised its 2025 revenue guidance to a range of $2.65 billion to $2.73 billion, representing approximately 29% annual growth at the midpoint, and adjusted EBITDA guidance to a range of $665 million to $685 million. In Q2, the company closed nearly $150 million of bookings for its AI Era Plan, with over 30% of bookings from new product categories. Axon highlighted its strong performance with state and local teams, international expansion, and enterprise opportunities, expecting high 30% bookings growth for the second half of the year.

Impressive Revenue Growth

Second quarter revenue of $669 million increased 33% year-over-year, marking the 14th consecutive quarter of over 25% revenue growth.

Strong Bookings and Product Adoption

Closed almost $150 million of bookings for the AI Era Plan in Q2 alone, with over 30% of bookings this quarter coming from new product categories. Draft One, TASER 10, and Axon Body 4 are the fastest adopted products.

Record-Breaking Deals

The state and local team achieved the largest deal in Axon company history, and the corrections team also closed their largest deal in team history.

International Expansion

Added a new TASER customer in Africa, becoming the largest in the region, and signed a contract in the gaming space, marking the first win in that vertical to include AI products.

Raising Guidance

2025 revenue guidance raised to $2.65 billion to $2.73 billion, representing approximately 29% annual growth at the midpoint. Adjusted EBITDA guidance raised to $665 million to $685 million.

Axon Enterprise (AXON) Earnings, Revenues Date & History

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AXON Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	1.51 / -	1.45	―	―	―
Aug 04, 2025	2025 (Q2)	1.46 / 2.12	1.2	76.67% (+0.92)
May 07, 2025	2025 (Q1)	1.27 / 1.41	1.15	22.61% (+0.26)
Feb 25, 2025	2024 (Q4)	1.40 / 2.08	1.12	85.71% (+0.96)
Nov 07, 2024	2024 (Q3)	1.20 / 1.45	1.02	42.16% (+0.43)
Aug 06, 2024	2024 (Q2)	1.02 / 1.20	1.11	8.11% (+0.09)
May 06, 2024	2024 (Q1)	0.94 / 1.15	0.88	30.68% (+0.27)
Feb 27, 2024	2023 (Q4)	0.85 / 1.12	0.7	60.00% (+0.42)
Nov 07, 2023	2023 (Q3)	0.76 / 1.02	0.6	70.00% (+0.42)
Aug 08, 2023	2023 (Q2)	0.62 / 1.11	0.44	152.27% (+0.67)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AXON Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 04, 2025	$744.88	$867.12	+16.41%
May 07, 2025	$601.82	$686.83	+14.13%
Feb 25, 2025	$496.65	$572.40	+15.25%
Nov 07, 2024	$468.75	$603.18	+28.68%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.