Axon Enterprise — Feb 24, 2026 release

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 expanded product portfolio across hardware, software and AI, strong future contracted bookings, and deep customer relationships reinforces our confidence in our ability to deli