Axon Enterprise — Aug 5, 2026 release

Our increased revenue guidance is supported by our continued execution against $15.1 billion in Future Contracted Bookings, and an expanding pipeline that supports our expectation for greater than 30% growth in five-year normalized bookings year over year for 2026. • 2026 Adjusted EBITDA: Axon expects full-year 2026 Adjusted EBITDA margin of 25.5%. ◦ 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 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. • 2026 Stock-based compensation: Axon expects full-year 2026 stock-based compensation expense to be approximately $590 million to $620 million, in line with prior guidance. ◦ Full-year 2026 stock-based compensation expense includes approximately $280 million related 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. • 2026 CapEx: Axon expects 2026 CapEx to be in the range of $160 million to $190 million. Our 2026 capital expenditure plans include long-term R&D investment projects, continued capacity expansion, global facility bu