Axon Enterprise — Feb 24, 2026 release

Outlook & Target Model The following forward-looking statements reflect Axon’s expectations as of February 24, 2026 and are subject to risks and uncertainties. Please refer to “Forward-Looking Statements” below for additional information. Full Year 2026 Guidance • Revenue growth of 27% to 30% year over year • Adjusted EBITDA margin of 25.5% • Stock-based compensation expense of $590 million to $620 million • Capital expenditures in the range of $185 million to $215 million Full-year 2026 stock-based compensation expense includes approxim ately $230 million re lated to the broad-based Employee XSP and the CEO Performance Award, primarily within SG&A and R&D. These performance-based incentive programs are tied to stock price, operational, and time-based requirements, and include seven substantially equal tranches. 2026 capital expenditure plans include long-term R&D investment projects, continued capacity expansion, global facility build-outs and new product development costs. Expected capital expenditures do not include costs related to investments in a new headquarters. 2028 Target Model Axon has established a new 2028 target model to guide our focus as we create meaningful value for society and our shareholders. We exceeded our prior 3-year targets of $2 billion in annual revenue and a 25% Adjusted EBITDA margin for 2025, delivering $2.8 billion in revenue at a 25.5% adjusted EBITDA margin and now we're providing an updated forecast. The strength in our business including an expande