Core Insights - Axon Enterprise, Inc. (AXON) is experiencing strong performance in its Connected Devices segment, driven by robust demand for its TASER 10 products and other advanced technologies [1][4] Segment Performance - The Connected Devices segment's revenues increased by 24% year over year, reaching $405 million in Q3 2025, with TASER and Personal Sensors businesses growing by 17% and 20%, respectively, while Platform Solutions surged by 71% [3][8] - The introduction of the Axon Body 4 body-worn camera in April 2023 has led to strong orders, contributing positively to segment growth [2] Market Demand - The demand for Axon's public safety technologies is expected to remain strong due to rising global terrorism and criminal activities, positioning the Connected Devices portfolio for sustained growth [4] Peer Comparison - Kratos Defense & Security Solutions, Inc. reported a 23% year-over-year revenue increase in its Government Solutions segment, while Teledyne Technologies Incorporated's Digital Imaging segment saw a 2.2% increase [5][6] Valuation and Estimates - Axon is currently trading at a forward price-to-earnings ratio of 72.59X, which is above the industry average of 46.27X, and it carries a Value Score of F [10] - The Zacks Consensus Estimate for Axon's fourth-quarter 2025 earnings has decreased by 0.6% over the past 60 days [11]