Axon Enterprise — Nov 7, 2024 release

This Software-as-a-Service (SaaS) metric excludes the hardware portion of customer subscriptions and is normalized to account for phased customer deployments throughout the year. • Total company future contracted revenue of $7.7 billion increased sequentially and is up 33% year over year. We expect to recognize between 15% to 25% of this balance over the next 12 months and generally expect the remainder to be recognized over the following ten years. 2024 Outlook The following forward-looking statements reflect Axon’s expectations as of November 7, 2024, and are subject to risks and uncertainties. Please refer to “Forward-looking Statements” below for more information. Q4 2024 • For the fourth quarter, we expect revenue within the range of $560 million to $570 million, representing greater than 30% annual growth at the midpoint. • We expect Adjusted EBITDA within the range of $130 million to $135 million, representing Adjusted EBITDA margin of approximately 23.5%. ◦ We provide Adjusted EBITDA guidance, rather than net income guidance, due to the inherent difficulty of forecasting certain types of expenses and gains such as stock-based compensation, income tax expenses and gains or losses on marketable securities and strategic investments, which affect net income but not Adjusted EBITDA. We are unable to reasonably estimate the impact of such expenses, which could be material, on net income. Accordingly, we do not provide a reconciliation of projected net income to projected Adjusted EBITDA. Full Year • Axon