AXON ENTERPRISE, INC.
For the period ended Mar 31, 2026. Filed May 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
AXON$302.54-0.2%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income | $169,312 | $87,980 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Stock-based compensation | 134,701 | 140,239 |
| Gain on strategic investments and marketable securities, net | (191,090) | (143,921) |
| Debt inducement expense | — | 28,666 |
| Depreciation and amortization | 30,361 | 19,453 |
| Provision for bad debts and inventory | 1,968 | 3,800 |
| Deferred income taxes | 18,020 | (48,768) |
| Other noncash items | 11,695 | 9,515 |
| Change in assets and liabilities: | ||
| Receivables and contract assets | 48,915 | (73,565) |
| Inventory | (64,713) | (16,986) |
| Deferred revenue | (40,295) | 33,505 |
| Accounts payable, accrued and other liabilities | (151,047) | 8,611 |
| Prepaid expenses and other assets | 656 | (22,735) |
| Net cash (used in) provided by operating activities | (31,517) | 25,794 |
| Cash flows from investing activities: | ||
| Purchases of investments | (291,952) | (1,079,169) |
| Business combinations, net of cash acquired | (549,681) | — |
| Proceeds from call, maturity, and sale of investments | 249,345 | 401,811 |
| Purchases of property and equipment | (23,125) | (24,862) |
| Other, net | (1,524) | 3 |
| Net cash used in investing activities | (616,937) | (702,217) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of notes | — | 1,750,000 |
| Principal payments for conversion and redemption of convertible debt | (81,110) | (407,453) |
| Payments to third parties for debt issuance, amendment, conversion and redemption activity | (964) | (24,210) |
| Income and payroll tax payments for net-settled stock awards | (10,210) | (5,035) |
| Other, net | (4) | (76) |
| Net cash (used in) provided by financing activities | (92,288) | 1,313,226 |
| Effect of exchange rate changes on cash and cash equivalents | (1,495) | 1,192 |
| Net change in cash and cash equivalents | (742,237) | 637,995 |
| Cash and cash equivalents and restricted cash, beginning of period | 1,213,393 | 466,763 |
| Cash and cash equivalents and restricted cash, end of period | $471,156 | $1,104,758 |
| Supplemental disclosures: | ||
| Cash and cash equivalents | $458,921 | $1,092,938 |
| Restricted cash (Note 1) | 12,235 | 11,820 |
| Total cash, cash equivalents and restricted cash shown in the statements of cash flows | $471,156 | $1,104,758 |
| Cash paid for interest | $54,124 | $498 |
| Non-cash transactions: | ||
| Property and equipment purchases in accounts payable and accrued liabilities | $5,973 | $151 |
| Expense for induced conversion of convertible debt, debt offering and revolver modification | $— | $34,248 |
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