Q1 25 EPS
$1.41
BEAT +13.52%
Est. $1.24
Q1 25 Revenue
$603.6M
BEAT +2.95%
Est. $586.3M
vs S&P Since Q1 25
-63.8%
TRAILING MARKET
AXON -36.2% vs S&P +27.5%
Market Reaction
Did AXON Beat Earnings? Q1 2025 Results
Axon Enterprise opened 2025 with a record first quarter, posting revenue of $603.63 million, a 31.3% year-over-year increase that topped the $586.34 million consensus estimate by 2.95% and marked the company's 13th consecutive quarter of at least 25%… Read more Axon Enterprise opened 2025 with a record first quarter, posting revenue of $603.63 million, a 31.3% year-over-year increase that topped the $586.34 million consensus estimate by 2.95% and marked the company's 13th consecutive quarter of at least 25% growth. Non-GAAP earnings per share of $1.41 beat the $1.24 consensus by 13.52%, with the quarter's standout driver being Software and Services, which grew 39% year over year to $262.74 million as premium software adoption pushed annual recurring revenue to $1.10 billion and net revenue retention to a robust 123%. Future contracted bookings surged 41% to $9.90 billion, providing substantial long-term visibility that underpinned management's decision to raise full-year 2025 revenue guidance to $2.60 billion to $2.70 billion, up from the prior $2.55 billion to $2.65 billion range. Adjusted EBITDA guidance was similarly lifted to $650 million to $675 million. The strong results sent shares up more than 14%, reflecting broad investor confidence in the company's growth trajectory.
Key Takeaways
- • Software & Services revenue grew 39% YoY driven by new users and expansion with existing customers adopting premium software
- • Annual recurring revenue grew 34% YoY to $1.1 billion
- • Net revenue retention of 123% reflecting strong customer expansion and minimal churn
- • Strong demand for TASER 10 devices and cartridges
- • Axon Body 4 adoption driving Personal Sensors growth
- • Platform Solutions grew 51% YoY fueled by VR training and counter-drone demand
- • Total company gross margin expanded 440 basis points YoY to 60.6%
- • Adjusted EBITDA grew 42% YoY driven by revenue growth, improved adjusted gross margin and operating leverage
AXON YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
AXON Revenue by Segment
With YoY comparisons, source: SEC Filings
AXON Revenue by Geography
With YoY comparisons, source: SEC Filings
“These aren't just product and capability launches—it's a blueprint for the future of public safety”
— Rick Smith, Q1 2025 Earnings Press Release
AXON Earnings Trends
AXON vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AXON EPS Trend
Earnings per share: estimate vs actual
AXON Revenue Trend
Quarterly revenue: estimate vs actual
AXON Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $1.60 | $2.15 | +34.38% | $796.7M | +5.59% |
| FY Full Year | $6.32 | $6.85 | +8.47% | $2.78B | +1.54% |
| Q3 25 MISS | $1.54 | $1.17 | -24.08% | $710.6M | +0.82% |
| Q2 25 BEAT | $1.46 | $2.12 | +45.02% | $668.5M | +4.30% |
| Q1 25 BEAT | $1.24 | $1.41 | +13.52% | $603.6M | +2.95% |
| Q4 22 BEAT FY | $0.51 | $0.70 | +37.25% | $336.1M | +9.90% |
| FY Full Year | — | $2.19 | — | $1.19B | — |