Axon Enterprise Stock Slips After Q2 Earnings

Benzinga Earnings05:46

Axon Enterprise Inc (NASDAQ:AXON) reported financial results for the second quarter after the market close on Wednesday. Here’s a look at the key metrics from the print.

Axon Enterprise stock is taking a hit today. Why is AXON stock dropping?

Axon Enterprise Q2 Highlights

Axon posted second-quarter revenue of $904.39 million, beating analyst estimates of $876.46 million, according to Benzinga Pro. The company reported second-quarter adjusted earnings of $1.88 per share, beating estimates of $1.85 per share.

Total revenue was up 35% year-over-year as demand “remained robust” among both new and existing customers. Software and Services revenue increased 36% year-over-year to $398 million and Connected Devices revenue grew 35% year-over-year to $507 million.

Annual Recurring Revenue also increased 39% year-over-year to $1.6 billion, primarily driven by growing demand for premium software offerings.

Axon had $685 million of cash, cash equivalents and short-term investments as of June 30.

Axon raised its full-year 2026 guidance from a range of $3.61 billion to $3.67 billion to a new range of $3.67 billion to $3.73 billion, versus estimates of $3.66 billion.

AXON Shares Move Lower After The Close

AXON Price Action: Axon Enterprise shares were down 6.32% in after-hours, trading at $570.95 at the time of publication on Wednesday, according to Benzinga Pro.

Read Also: Figma Stock Falls Despite Beat-and-Raise Quarter

Image: Shutterstock.com

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Here’s a look at the key metrics from the print.\n\nAxon Enterprise stock is taking a hit today. Why is AXON stock dropping?\n\nAxon Enterprise Q2 Highlights\nAxon posted second-quarter revenue of $904.39 million, beating analyst estimates of $876.46 million, according to Benzinga Pro. The company reported second-quarter adjusted earnings of $1.88 per share, beating estimates of $1.85 per share.\nTotal revenue was up 35% year-over-year as demand “remained robust” among both new and existing customers. 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