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Axon Enterprise cash flow statement

In fiscal 2025, Axon Enterprise's operations generated $211m of cash; it spent $136m on capital projects, leaving free cash flow of $75.1m.

Cash flow statement

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

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations117273235462118646638124235189408211266
Depreciation and amortisation787543481111121923194883109
Stock-based pay4334679162278134303106131383634633
Capital spending42123651011167350566079136133
Free cash flow−315253133401685350−347518013033075133
Free cash flow after stock pay−712222627337−831−29−168−22973−2−53−559−500
Share buybacks—3220252283400————————
Shares issued——————002340307106—————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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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.