What is Axon Enterprise, Inc.'s R&D?

Axon Enterprise, Inc. (AXON) reported R&D of $188.95M in Q1 2026.

How has Axon Enterprise, Inc.'s R&D changed year-over-year?

Axon Enterprise, Inc.'s R&D increased by 25.1% year-over-year, from $151.02M to $188.95M.

What is the long-term trend for Axon Enterprise, Inc.'s R&D?

Over 4 years (2021 to 2025), Axon Enterprise, Inc.'s R&D has grown at a 37.0% compound annual growth rate (CAGR), from $194.03M to $684.31M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Axon Enterprise, Inc. AXON R&D

R&D at other companies

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$252M+8.2%

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$105K-72.2%

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$843.7K+17.3%

ROC

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$2.09M+34.3%

Applovin CorporationAPP

$94.1M+66.8%

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$22.83M+5.8%

Other financials

Income statement

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Revenue$807.3M+33.7%

Gross profit$477.3M+30.5%

Operating income$29.2M+433%

Net income$169.3M+92.4%

EPS (diluted)$2.05+89.8%

Balance sheet

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Cash & equivalents$458.9M-58.0%

Total debt$1.8B-10.7%

Total equity$3.5B+38.3%

Total assets$7.1B+16.2%

Cash flow

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Operating cash flow-$31.5M-222%

CapEx$23.1M-7.0%

Free cash flow-$54.6M-5,963%

Valuation

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Market cap$45.19B-23.1%

Enterprise value$46.56B-22.7%

P/E219.4×+39.3×

P/S15.2×-9.4×

Profitability

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Gross margin59.3%-1.3pp

Operating margin-0.8%—

Net margin6.9%-8.0pp

FCF margin0.7%-15.6pp

Returns & leverage

See full

Return on equity6.8%-8.4pp

Debt / equity0.5×-0.3×

Current ratio2.3×-0.6×

Where this comes from

Reported directly by Axon Enterprise, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Axon Enterprise, Inc.’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Axon Enterprise, Inc.'s R&D?: Axon Enterprise, Inc. (AXON) reported R&D of $188.95M in Q1 2026.
How has Axon Enterprise, Inc.'s R&D changed year-over-year?: Axon Enterprise, Inc.'s R&D increased by 25.1% year-over-year, from $151.02M to $188.95M.
What is the long-term trend for Axon Enterprise, Inc.'s R&D?: Over 4 years (2021 to 2025), Axon Enterprise, Inc.'s R&D has grown at a 37.0% compound annual growth rate (CAGR), from $194.03M to $684.31M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.