AXON ENTERPRISE, INC.
For the period ended Jun 30, 2026. Filed Aug 6, 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.
Jun 30, 2026 · Filed Aug 6, 2026
AXON$302.54-0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(in thousands)
| Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income | $198,739 | $124,097 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Stock-based compensation | 278,697 | 279,483 |
| Gain on strategic investments and marketable securities, net | (197,873) | (111,754) |
| Debt inducement expense | — | 28,666 |
| Depreciation and amortization | 62,824 | 36,610 |
| Provision for bad debts and inventory | 2,630 | 6,254 |
| Deferred income taxes | 11,456 | (70,065) |
| Other noncash items | 18,466 | 19,278 |
| Change in assets and liabilities: | ||
| Receivables and contract assets | (256,919) | (212,833) |
| Inventory | (145,099) | (48,098) |
| Deferred revenue | (35,334) | (51,143) |
| Accounts payable, accrued and other liabilities | 105,531 | 21,175 |
| Prepaid expenses and other assets | (54,558) | (87,580) |
| Net cash used in operating activities | (11,440) | (65,910) |
| Cash flows from investing activities: | ||
| Purchases of investments | (302,844) | (1,793,862) |
| Business combinations, net of cash acquired | (551,593) | (3,809) |
| Proceeds from call, maturity, and sale of investments | 434,345 | 756,654 |
| Purchases of property and equipment | (44,174) | (47,815) |
| Other, net | (1,496) | 83 |
| Net cash used in investing activities | (465,762) | (1,088,749) |
| Cash flows from financing activities: | ||
| Net proceeds from equity offering | 100,477 | 183,960 |
| Principal payments for conversion and redemption of convertible debt | (81,110) | (407,453) |
| Income and payroll tax payments for net-settled stock awards | (140,192) | (192,835) |
| Payments to third parties for debt issuance, amendment, conversion and redemption activity | (964) | (24,735) |
| Proceeds from issuance of notes | — | 1,750,000 |
| Other, net | (829) | (76) |
| Net cash (used in) provided by financing activities | (122,618) | 1,308,861 |
| Effect of exchange rate changes on cash and cash equivalents | (3,949) | 6,497 |
| Net change in cash and cash equivalents | (603,769) | 160,699 |
| 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 | $609,624 | $627,462 |
| Supplemental disclosures: | ||
| Cash and cash equivalents | $597,704 | $615,496 |
| Restricted cash (Note 1) | 11,920 | 11,966 |
| Total cash, cash equivalents and restricted cash shown in the statements of cash flows | $609,624 | $627,462 |
| Cash paid for interest | $54,124 | $1,204 |
| Non-cash transactions: | ||
| Leased assets obtained in exchange for new operating lease liabilities | $8,502 | $5,554 |
| Property and equipment purchases in accounts payable and accrued liabilities | $8,051 | $3,060 |
| Expense for induced conversion of convertible debt, debt offering and revolver modification | $— | $33,725 |
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