Axon Enterprise — May 6, 2026 release

IR@axon.com Axon reports Q1 2026 revenue of $807 million, up 34% year over year • Software & Services revenue grows 35% to $355 million; AI products up over 700% year over year • Counter-drone product revenue up over 300% year over year • Net income of $169 million supports non-GAAP net income of $133 million and Adjusted EBITDA of $202 million • Raises full-year revenue outlook to a range of 30% to 32% annual growth and maintains 25.5% Adjusted EBITDA margin • Expects full-year operating cash flow of over $600 million and free cash flow of approximately $450 million Fellow shareholders, Axon entered 2026 with strong momentum, delivering record quarterly revenue and marking our ninth consecutive quarter of 30%+ growth. This performance was driven by robust demand across our ecosystem of products, including TASER 10, Axon Body 4, counter-drone, real-time operations and artificial intelligence (AI). Underpinning these results is our continued investment in innovation alongside strong, consistent profitability, with first quarter revenue growth of 34%, net income margin of 21% and an Adjusted EBITDA margin of 25%. Software & Services revenue continued to drive growth, contributing $355 million, up 35% year over year. Adoption of our latest software offerings among existing customers supported net revenue retention of 125%, while we expanded our customer base across international, corrections, U.S. federal and enterprise markets. Annual recurring revenue reached $1.5 billion, growing 35% year over year. Connected Devices revenue increased 33% year over year to $453 million. TASER 10 and Axon Body 4 continue to see st