v3.26.1

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Net sales	$ 807,345	$ 603,633
Cost of sales	330,059	237,894
Gross margin	477,286	365,739
Operating expenses:
Selling, general and administrative	259,093	223,509
Research and development	188,950	151,023
Total operating expenses	448,043	374,532
Income (loss) from operations	29,243	(8,793)
Interest income	10,611	10,604
Interest expense	(28,643)	(7,821)
Other income, net	189,010	114,401
Income before provision for income taxes	200,221	108,391
Provision for income taxes	30,909	20,411
Net income	$ 169,312	$ 87,980
Net income per common and common equivalent shares:
Basic (in dollars per share)	$ 2.11	$ 1.14
Diluted (in dollars per share)	$ 2.05	$ 1.08
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	80,150	76,890
Diluted (in shares)	82,478	81,484
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 169,312	$ 87,980
Foreign currency translation adjustments	647	358
Unrealized loss on available-for-sale investments	(111)	(124)
Comprehensive income	169,848	88,214
Net sales from products
Net sales	452,821	340,896
Cost of sales	232,156	170,181
Net sales from services
Net sales	354,524	262,737
Cost of sales	$ 97,903	$ 67,713

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(26))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-5

AXON ENTERPRISE, INC. 10-Q