Filing Flows › Axon Enterprise (AXON) › Q3 2026 › vs Q2 2026
Axon Enterprise (AXON) Q3 2026 vs Q2 2026 (quarter over quarter)
Axon Enterprise's revenue rose $4.2M (+0.5%) from $904M in Q2 2026 to $909M in Q3 2026. The biggest changes: Service +$39.2M (+10%); Product −$35.0M (-7%). Gross margin 56.7% against 60.4% (-3.7 pts).
Axon Enterprise, Q3 2026: revenue $909M (+28% year over year), operating margin 4.6%, net earnings $57.0M, operating cash flow $19.7M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 56.7% | 60.4% | -3.7 pts |
| Operating margin | 4.6% | 5.2% | -0.5 pts |
| Net margin | 6.3% | 3.3% | +3.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| TASER | $233M | $261M | −$28.3M | -11% |
| Platform Solutions | $125M | $150M | −$24.9M | -17% |
| Personal Sensors | $114M | $95.4M | $18.1M | +19% |
| Product | $472M | $507M | −$35.0M | -7% |
| Service | $437M | $398M | $39.2M | +10% |
| Revenue | $909M | $904M | $4.2M | +0.5% |
| Gross profit | $515M | $546M | −$31.5M | -6% |
| Cost of revenue | $394M | $358M | $35.6M | +10% |
| Other income, net | $36.8M | −$14.1M | $50.9M | — |
| Operating profit | $42.1M | $46.8M | −$4.7M | -10% |
| Operating expenses | $473M | $500M | −$26.8M | -5% |
| Pre-tax earnings | $78.9M | $32.7M | $46.2M | +141% |
| Research & development | $192M | $209M | −$16.3M | -8% |
| SG&A | $280M | $291M | −$10.5M | -4% |
| Net earnings | $57.0M | $29.4M | $27.6M | +94% |
| Income tax | $21.9M | $3.3M | $18.7M | +573% |
| Operating cash sources | $247M | $206M | $40.7M | +20% |
| Depreciation & amortization | $33.2M | $32.5M | $772K | +2% |
| Share-based compensation | $156M | $144M | $12.4M | +9% |
| Working capital & other | $227M | $186M | $41.1M | +22% |
| Operating cash flow | $19.7M | $20.1M | −$390K | -2% |
| Capital expenditures | $38.6M | $21.0M | $17.5M | +83% |
| Negative free cash flow (OCF − capex) | $18.9M | $972K | $17.9M | 19× |
Questions
How much did Axon Enterprise's revenue grow quarter over quarter in Q3 2026?
Axon Enterprise's revenue rose $4.2M (+0.5%) from $904M in Q2 2026 to $909M in Q3 2026.
What drove Axon Enterprise's revenue change in Q3 2026?
Service +$39.2M (+10%); Product −$35.0M (-7%).