Axon Enterprise (AXON) Research & Development (2010 - 2026)
Axon Enterprise (AXON) posted Research & Development of $208.69 million for Q2 2026, up 28.4% from $162.57 million a year earlier and up 10.4% from the prior quarter.
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Analysis
Axon Enterprise (AXON) Research & Development (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Axon Enterprise was $768.36 million, up 36.6% year-over-year; for FY2025, it came in at $684.31 million, up 55.0% from FY2024.
- Annual Research & Development has increased for 13 consecutive years, with a five-year compound annual growth rate of 40.9% (FY2020 to FY2025).
- In prior years, Axon Enterprise's Research & Development was $441.6 million in FY2024 (+45.4%), $303.72 million in FY2023 (+29.9%), $233.81 million in FY2022 (+20.5%) and $194.03 million in FY2021 (+57.5%).
- The Q2 2026 figure stands as the highest quarterly Research & Development in data going back to Q2 2010.
- On a year-over-year basis, Research & Development has increased in each of the last 52 quarters, with growth averaging 48.4% over the last eight quarters.
- Across the past five years, year-over-year growth in Research & Development ran from 3.0% in Q1 2022 to 65.8% in Q1 2025.
- According to Business Quant data, Research & Development for the three prior quarters was $188.95 million (Q1 2026), $194.04 million (Q4 2025) and $176.67 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 316.55 Bn | 301.63 Bn | 2.30 Bn | 779.00 Mn |
| 2 | CrowdStrike Holdings | 269.03 Bn | 249.47 Bn | 1.10 Bn | 444.20 Mn |
| 3 | Fortinet | 129.08 Bn | 115.01 Bn | 1.64 Bn | 225.00 Mn |
| 4 | Snowflake | 116.42 Bn | 103.73 Bn | 1.04 Bn | 567.48 Mn |
| 5 | Datadog | 96.40 Bn | 78.04 Bn | 881.34 Mn | 477.97 Mn |
| 6 | Okta | 34.24 Bn | 24.34 Bn | 641.00 Mn | 163.00 Mn |
| 7 | Axon Enterprise | 34.08 Bn | 28.61 Bn | 546.45 Mn | 208.69 Mn |
| 8 | Zscaler | 32.34 Bn | 18.46 Bn | - | - |
| 9 | Baidu | 29.50 Bn | -44.13 Bn | 1.47 Mn | 679.00 Mn |
| 10 | MongoDB | 27.16 Bn | 17.63 Bn | 569.77 Mn | 213.87 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 208.69 Mn |
| Mar 31, 2026 | 188.95 Mn |
| Dec 31, 2025 | 194.04 Mn |
| Sep 30, 2025 | 176.67 Mn |
| Jun 30, 2025 | 162.57 Mn |
| Mar 31, 2025 | 151.02 Mn |
| Dec 31, 2024 | 134.59 Mn |
| Sep 30, 2024 | 114.48 Mn |
| Jun 30, 2024 | 101.43 Mn |
| Mar 31, 2024 | 91.10 Mn |
| Dec 31, 2023 | 83.97 Mn |
| Sep 30, 2023 | 76.88 Mn |
| Jun 30, 2023 | 71.94 Mn |
| Mar 31, 2023 | 70.93 Mn |
| Dec 31, 2022 | 68.72 Mn |
| Sep 30, 2022 | 59.13 Mn |
| Jun 30, 2022 | 57.55 Mn |
| Mar 31, 2022 | 48.42 Mn |
| Dec 31, 2021 | 50.67 Mn |
| Sep 30, 2021 | 42.38 Mn |
API Access
Axon Enterprise Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=AXON&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "AXON", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=AXON&period=max&api_key=YOUR_API_KEY");
const data = await res.json();