Axon Enterprise (AXON) Operating Expenses (2010 - 2026)

For the trailing twelve months through Jun 30, 2026, Operating Expenses at Axon Enterprise was $1.89 billion, up 30.5% year-over-year; for FY2025, it was $1.72 billion, up 45.4% from FY2024.

• Annual Operating Expenses has increased for three consecutive years, with a five-year compound annual growth rate of 31.9% (FY2020 to FY2025).
• In prior years, Axon Enterprise's Operating Expenses was $1.18 billion in FY2024 (+48.1%), $798.6 million in FY2023 (+26.1%), $633.14 million in FY2022 (-10.7%) and $708.87 million in FY2021 (+64.7%).
• Quarterly Operating Expenses has run from a low of $138.55 million in Q1 2022 to a high of $511.41 million in Q4 2025 over five years.
• On a year-over-year basis, Operating Expenses has increased in each of the last 16 quarters, with growth averaging 43.1% over the last eight quarters.
• The strongest year-over-year quarter for Operating Expenses in the past five years was Q4 2024, with growth of 63.4%; the weakest was Q2 2022, with a decline of 34.1%.
• According to Business Quant data, Operating Expenses for the three prior quarters was $448.04 million (Q1 2026), $511.41 million (Q4 2025) and $429.48 million (Q3 2025).