Q2 26 EPS Adjusted
$1.88
BEAT +1.96%
Est. $1.84
Q2 26 Revenue
$904.4M
BEAT +3.19%
Est. $876.5M
vs S&P Since Q2 26
-7.7%
TRAILING MARKET
AXON -7.3% vs S&P +0.4%
Market Reaction
Did AXON Beat Earnings? Q2 2026 Results
Axon Enterprise delivered a strong second quarter, beating Wall Street expectations on both the top and bottom lines as accelerating demand for its AI and drone products powered broad-based growth. The company reported Q2 2026 revenue of $904.39 mill… Read more Axon Enterprise delivered a strong second quarter, beating Wall Street expectations on both the top and bottom lines as accelerating demand for its AI and drone products powered broad-based growth. The company reported Q2 2026 revenue of $904.39 million, up 35.3% year over year and ahead of the $876.46 million consensus, while adjusted EPS of $1.88 edged past the $1.84 estimate by 1.96%. The clearest driver behind the outperformance was momentum across its platform, with Software and Services revenue climbing 36% to $397.84 million and Dedrone counter-drone revenue crossing $100 million, helping Platform Solutions grow 123% to $149.84 million. Investors had been closely watching whether Axon could sustain its high-growth trajectory and justify its premium valuation, and the quarter offered a clear answer; future contracted bookings grew 41% to $15.10 billion, giving management enough confidence to raise its full-year 2026 revenue growth outlook to 32% to 34%, up from its prior 30% to 32% range, while holding Adjusted EBITDA margin guidance steady at approximately 25.5%.
Key Takeaways
- • AI Era Plan revenue grew nearly 700% year over year
- • Dedrone revenue surpassed $100 million
- • Platform Solutions revenue grew 123% year over year
- • Net revenue retention reached 126%
- • Annual recurring revenue grew 39% to $1.6 billion
- • Future contracted bookings grew 41% to $15.1 billion
- • Global tariff refunds of $47 million received in the quarter
- • Over 80% of customers deploy at least one integrated hardware-software solution
AXON Forward Guidance & Outlook
Axon raised its full-year 2026 revenue growth outlook to 32%-34%, up from 30%-32% previously, supported by $15.1 billion in future contracted bookings and an expanding pipeline that supports greater than 30% growth in five-year normalized bookings year over year. The company maintains full-year 2026 Adjusted EBITDA margin guidance of approximately 25.5%. Full-year stock-based compensation expense is expected to be approximately $590 million to $620 million, and capital expenditures are expected to be $160 million to $190 million (excluding new headquarters costs).
AXON YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
AXON Revenue by Segment
With YoY comparisons, source: SEC Filings
AXON Revenue by Geography
With YoY comparisons, source: SEC Filings
AXON Earnings Trends
AXON vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AXON EPS Trend
Earnings per share: estimate vs actual
AXON Revenue Trend
Quarterly revenue: estimate vs actual
AXON Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.84 | $1.88 | +1.96% | $904.4M | +3.19% |
| Q1 26 BEAT | $1.60 | $1.61 | +0.80% | $807.3M | +3.56% |
| Q4 25 BEAT FY | $1.60 | $2.15 | +34.56% | $796.7M | +5.49% |
| FY Full Year | $6.32 | $6.85 | +8.47% | $2.78B | +1.54% |
| Q3 25 MISS | $1.54 | $1.17 | -24.08% | $710.6M | +0.82% |
| Q2 25 BEAT | $1.46 | $2.12 | +45.02% | $668.5M | +4.30% |
| Q1 25 BEAT | $1.24 | $1.41 | +13.52% | $603.6M | +2.95% |
| Q4 22 BEAT FY | $0.51 | $0.70 | +37.25% | $336.1M | +9.90% |
| FY Full Year | — | $2.19 | — | $1.19B | — |