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Axon Enterprise (AXON) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Axon Enterprise (AXON) reported revenue of $909M for the third quarter 2026 (Q3 2026), +28% from a year earlier and +0.5% from the quarter before. Operating margin was 4.6%, net earnings $57.0M (6.3% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $909M | +0.5% | +28% |
| Gross profit | $515M | -6% | +21% |
| Operating profit | $42.1M | -10% | — |
| Net earnings | $57.0M | +94% | — |
| Operating cash flow | $19.7M | -2% | -67% |
What changed
Revenue was $908.6M in Q3 2026, up 28% year over year and roughly flat from the previous quarter. Service was the largest line at 48% of revenue. Service added $131.8M year over year (up 43%), 67% of the total change. TASER declined 2%.
Gross margin was 56.7%, down 3.5 points from a year earlier. Operating profit was $42.1M, a 4.6% margin (up 4.9 points year over year). Operating expenses grew 10% against revenue growth of 28%. The fastest-growing cost line was SG&A (+11%). Net earnings were $57.0M. The effective tax rate was 27.8%. Non-operating items added $36.8M, 47% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $19.7M (down 67% year over year), 35% of net earnings. Non-cash charges added back $33.2M of depreciation and amortization and $156.4M of share-based compensation. Working capital and other items used $226.9M. Capital expenditures of $38.6M exceeded it, leaving free cash flow of −$18.9M.
Questions
What was Axon Enterprise's revenue in the third quarter 2026?
Axon Enterprise (AXON) reported revenue of $909M for the third quarter 2026 (Q3 2026), +28% from a year earlier and +0.5% from the quarter before.
Was Axon Enterprise profitable in the third quarter 2026?
Operating profit was $42.1M (4.6% of revenue) and net earnings $57.0M.
Source: Axon Enterprise 10-Q on SEC EDGAR.