| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 |
|---|---|---|---|---|
| Net income | 121,911 | 124,097 | 87,980 | 377,034 |
| Stock-based compensation | 425,635 | 279,483 | 140,239 | 382,604 |
| Gain on strategic investments and marketable securities, net | 134,647 | 111,754 | 143,921 | 283,217 |
| Debt inducement expense | -28,584 | -28,666 | -28,666 | - |
| Depreciation and amortization | 56,216 | 36,610 | 19,453 | 48,425 |
| Provision for bad debts and inventory | 8,828 | 6,254 | 3,800 | 20,073 |
| Deferred income taxes | -53,696 | -70,065 | -48,768 | -85,096 |
| Other noncash items | 15,930 | 19,278 | 9,515 | 21,177 |
| Receivables and contract assets | 366,053 | 212,833 | 73,565 | 245,842 |
| Inventory | 58,177 | 48,098 | 16,986 | -607 |
| Deferred revenue | 21,556 | -51,143 | 33,505 | 155,641 |
| Accounts payable, accrued and other liabilities | 44,730 | 21,175 | 8,611 | 54,519 |
| Prepaid expenses and other assets | 116,713 | 87,580 | 22,735 | 37,613 |
| Net cash provided by (used in) operating activities | -5,896 | -65,910 | 25,794 | 408,312 |
| Purchases of investments | 2,045,738 | 1,793,862 | 1,079,169 | 793,419 |
| Business combinations, net of cash acquired | 22,809 | 3,809 | 0 | 621,817 |
| Proceeds from call, maturity, and sale of investments | 1,644,556 | 756,654 | 401,811 | 1,003,394 |
| Purchases of property and equipment | 74,450 | 47,815 | 24,862 | 78,785 |
| Other, net | 49 | -83 | -3 | -54 |
| Net cash used in investing activities | -498,490 | -1,088,749 | -702,217 | -490,573 |
| Net proceeds from equity offering | 362,241 | 183,960 | - | 0 |
| Proceeds from issuance of notes | 1,750,000 | 1,750,000 | 1,750,000 | - |
| Proceeds from options exercised | 0 | - | - | 14,576 |
| Principal payments for conversion of convertible debt | 407,472 | 407,453 | 407,453 | - |
| Payments to third-parties for debt issuance, amendment and repurchase activity | 26,888 | 24,735 | 24,210 | - |
| Income and payroll tax payments for net-settled stock awards | 209,631 | 192,835 | 5,035 | 58,178 |
| Net proceeds from issuance of convertible senior notes | - | - | - | 0 |
| Proceeds from issuance of warrants | - | - | - | 0 |
| Purchase of convertible note hedge | - | - | - | 0 |
| Other, net | -226 | -76 | -76 | -1,835 |
| Net cash provided by (used in) financing activities | 1,468,024 | 1,308,861 | 1,313,226 | -45,437 |
| Effect of exchange rate changes on cash and cash equivalents | 5,741 | 6,497 | 1,192 | -6,209 |
| Net increase (decrease) in cash and cash equivalents | 969,379 | 160,699 | 637,995 | -133,907 |
| Cash and cash equivalents at beginning of period | 466,763 | 466,763 | 466,763 | 600,670 |
| Cash and cash equivalents at end of period | 1,436,142 | 627,462 | 1,104,758 | 466,763 |
AXON ENTERPRISE, INC. (AXON)
AXON ENTERPRISE, INC. (AXON)