AXON

AI Research

Axon Q4 Revenue +38.5% to $796.7M → 2026 Guidance +27-30%, Backlog Record $14.4B

Axon Enterprise reported Q4 2025 revenue of $796.7 million, up 38.5% year-over-year, and provided 2026 guidance for 27-30% revenue growth, with backlog reaching a record $14.4 billion across its connected law enforcement ecosystem of TASER weapons, body cameras, and Axon Cloud software. Analyst consensus holds a Hold rating despite the exceptional growth metrics, reflecting the stock's elevated valuation multiple. Risks include public safety budget constraints at state and local government customers, political controversy around TASER usage, and competition in the public safety technology space.