Axon Enterprise balance sheet

At the end of fiscal 2025, Axon Enterprise had total assets of $7.00bn, total liabilities of $3.76bn and shareholders' equity of $3.24bn. It held $1.20bn in cash against $1.89bn of debt: net debt of $690m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Axon Enterprise: balance sheet, annual
Fiscal year	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	43	21	36	42	48	60	41	75	349	172	155	356	354	599	455	1,201	598
Receivables	14	12	18	22	31	28	39	85	131	147	229	321	358	413	548	777	769
Inventory	18	11	11	11	18	16	35	45	34	39	90	109	202	270	265	342	487
Total current assets	82	62	79	97	135	161	177	114	558	609	982	1,109	1,805	2,394	2,297	3,713	3,005
Goodwill	—	—	0	2	2	10	10	15	25	25	25	44	45	58	757	1,370	1,899
Total assets	136	105	116	148	185	230	278	169	732	846	1,381	1,688	2,852	3,409	4,475	7,000	7,481
Accounts payable	5	5	6	6	8	7	11	9	15	26	24	32	60	66	72	139	270
Deferred revenue (current)	3	3	4	7	14	21	45	71	107	118	164	266	360	470	613	715	671
Total current liabilities	12	16	18	23	32	38	78	97	168	196	256	419	603	762	1,678	1,470	1,398
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—	—	0	680	81	0
Long-term debt	—	—	—	—	0	0	—	—	—	—	—	—	674	677	0	1,730	1,732
Total debt	0	0	0	0	0	0	—	—	—	0	0	0	674	677	1,361	1,891	1,750
Total liabilities	19	23	29	40	56	73	127	153	265	302	405	640	1,583	1,793	2,147	3,758	3,807
Shareholders' equity	118	82	87	108	129	157	151	142	467	543	976	1,050	1,271	1,616	2,328	3,243	3,675
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	—	−126	—	—	—	—	—	—	—	—	—
Net debt (negative = net cash)	−43	−21	−36	−42	−48	−59	−41	−75	−349	−172	−155	−356	320	79	906	690	1,152
Shares outstanding	63m	56m	53m	53m	53m	54m	52m	53m	59m	59m	64m	71m	71m	75m	77m	80m	81m

US$ millions unless shown otherwise. Fiscal quarters.

Axon Enterprise: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	513	548	600	628	701	777	675	769
Inventory	272	265	280	308	318	342	408	487
Total current assets	2,434	2,297	3,777	3,828	4,217	3,713	2,744	3,005
Goodwill	308	757	756	762	773	1,370	1,894	1,899
Total assets	4,006	4,475	6,083	6,215	6,657	7,000	7,067	7,481
Accounts payable	76	72	98	118	115	139	175	270
Deferred revenue (current)	505	613	661	603	639	715	690	671
Total current liabilities	1,503	1,678	1,337	1,297	1,350	1,470	1,208	1,398
Short-term debt	—	680	279	279	280	81	0	0
Long-term debt	0	0	1,728	1,729	1,729	1,730	1,731	1,732
Total debt	0	680	2,007	2,008	2,009	1,811	1,731	1,732
Total liabilities	1,906	2,147	3,527	3,483	3,630	3,758	3,533	3,807
Shareholders' equity	2,100	2,328	2,556	2,732	3,028	3,243	3,534	3,675
Shares outstanding	76m	77m	78m	79m	79m	80m	81m	81m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Axon Enterprise's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Axon Enterprise.