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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
—
Company details
Market cap
~$36B
P/E ratio
~150×
Div yield
0%
Revenue (TTM)
~$2.8B
Rev. growth
+31%
Free cash flow
~$450M
Recurring software
+39%
Net retention
~120%
In plain English
Axon makes the TASER stun weapon and the body cameras that police wear — but the real business is the cloud behind them. Footage flows into Axon Evidence (the old Evidence.com), where AI tools like Draft One write police reports, and agencies pay a recurring subscription year after year. It is a razor-and-blade model: sell the device, then lock in the software. Acquisitions of Dedrone (counter-drone), Fusus (real-time crime centres) and Sky-Hero (tactical drones) are pushing it into airspace security and robotics.
In simple terms
What Axon Enterprise really sells
Axon makes the TASER stun weapon and the body cameras that police wear — but the real business is the cloud behind them. Footage flows into Axon Evidence (the old Evidence.com), where AI tools like Draft One write police reports, and agencies pay a recurring subscription year after year. It is a razor-and-blade model: sell the device, then lock in the software. Acquisitions of Dedrone (counter-drone), Fusus (real-time crime centres) and Sky-Hero (tactical drones) are pushing it into airspace security and robotics.
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