certain expenses and gains, such as income tax expense and gains or losses on marketable securities and strategic investments. We are unable to reasonably estimate their potential impact, which could be material. Accordingly, we do not provide a reconciliation of projected net income and net income margin to projected Adjusted EBITDA and Adjusted EBITDA margin, respectively.We provide an Adjusted Free Cash Flow target, rather than a cash flow from operating activities target, to provide additional transpare ...

Core Viewpoint - Axon is set to release its fourth quarter 2025 financial results on February 24, 2026, and will host a live webinar to discuss these results, highlighting its ongoing commitment to public safety technology innovation [1]. Upcoming Financial Events - The financial results will be reported after market close on February 24, 2026, followed by a live Zoom webinar at 4:30 p.m. ET, lasting 90 minutes, which will include a presentation and Q&A session [1]. - Axon will also participate in the Morgan Stanley Technology, Media & Telecom Conference on March 3, 2026, and the Bank of America Global Industrials Conference on March 19, 2026, with events available for live webcast and archived on its investor relations website [1]. Company Overview - Axon, founded in 1993, is a leader in public safety technology, focusing on innovative solutions for law enforcement and public safety [1]. - The company offers a comprehensive network of products, including TASER devices, cameras, drones, and AI-driven capabilities, aimed at enhancing safety and accountability [1]. - Axon emphasizes responsible innovation, ensuring that technology serves humanity and is developed in collaboration with users, guided by principles of transparency and accountability [1].

Core Viewpoint - Axon Enterprise is facing investor concerns regarding its high valuation as it prepares to release its Q4 2025 earnings on February 24, amidst a broader market apprehension about high-growth tech firms trading at premium multiples [1] Company Overview - Axon Enterprise, headquartered in Scottsdale, Arizona, specializes in technology and weapons for law enforcement, military, and civilian use, including body-worn cameras, in-car cameras, TASER devices, and cloud software for evidence management [4] - The company operates in two segments: TASER and Software and Sensors, with the majority of revenue derived from the Software and Sensors segment, focusing on hardware and cloud-based systems for digital evidence [4] Recent Developments - Axon is expanding its AI capabilities, exemplified by its agreement to acquire Carbyne for $625 million, which aims to integrate cloud-native 911 technology into its ecosystem to enhance emergency response [2] - As AI integration progresses, there are questions about whether the upcoming Q4 results will validate the company's high valuation or serve as a reality check [3] Stock Performance - In 2026, AXON stock has declined 14% year-to-date, underperforming the S&P 500's 1.3% gain, following significant drops of nearly 10% and 7% on January 28 and 29, respectively [5] - The stock fell 4% in 2025, marking its first losing year since 2015 and snapping a nine-year streak of positive annual returns, while also underperforming the S&P 500's approximately 16% advance that year [5] Valuation Metrics - Axon is trading at a trailing price-to-earnings (P/E) ratio of 395, a forward P/E of 430, and a PEG ratio of 17.3, with a forward price-to-sales (P/S) ratio of 16.3, indicating significantly higher valuations compared to industry averages in aerospace and defense [6]

Core Insights - Investors with significant capital have adopted a bearish outlook on Axon Enterprise (NASDAQ:AXON) as indicated by recent options trading activity [1][2] - The overall sentiment among large investors is 27% bullish and 54% bearish, suggesting a cautious approach towards the stock [3] Options Trading Activity - Benzinga's options scanner identified 11 unusual options trades for Axon Enterprise, with a total of $217,450 in puts and $939,418 in calls [2][3] - The significant investors are targeting a price range of $390.0 to $690.0 for Axon Enterprise over the past three months based on trading activity [4] Volume and Open Interest - The mean open interest for Axon Enterprise options trades is 106.88, with a total volume of 92.00, indicating a moderate level of trading activity [5] Recent Market Performance - The stock price of AXON is currently at $605.33, reflecting an increase of 1.87% with a trading volume of 277,444 [14] - The next earnings report for Axon Enterprise is scheduled for 64 days from now, which may influence future trading activity [14] Analyst Ratings - A total of 1 professional analyst has set an average price target of $713.0 for Axon Enterprise, maintaining an Overweight rating [11][12]

Core Insights - Investors are showing a bullish sentiment towards Axon Enterprise, with significant options trading activity indicating potential upcoming developments [1][2] - The overall sentiment among large investors is mixed, with 41% bullish and 25% bearish positions noted in recent trades [3] Options Trading Activity - A total of 24 uncommon options trades for Axon Enterprise were identified, with 11 puts totaling $613,830 and 13 calls totaling $522,217 [2][3] - The predicted price range for Axon Enterprise is between $200.0 and $1140.0, based on trading volumes and open interest over the last three months [4] Volume and Open Interest Trends - The analysis of volume and open interest for Axon Enterprise's options indicates significant liquidity and interest, particularly within the strike price range of $200.0 to $1140.0 over the past 30 days [5][6] Noteworthy Options Activity - Specific trades include a call option with a strike price of $200.00 and a total trade price of $201.9K, and multiple put options with strike prices around $560.00, indicating a mix of bullish and neutral sentiments [9] Company Overview - Axon Enterprise Inc is focused on building a public safety operating system, integrating hardware devices and cloud software solutions, primarily generating revenue from its Software and Sensors segment [10] - The company offers a range of products including digital evidence management solutions, body cameras, TASER devices, and training solutions [10] Analyst Insights - Recent analyst ratings suggest a positive outlook for Axon Enterprise, with target prices averaging around $745.0, and individual targets ranging from $610 to $800 [11][12] Current Market Position - Axon Enterprise is currently trading at $521.39, with a slight decrease of -0.11%, and is anticipated to release earnings in 92 days [14]

Core Insights - Axon will report its third quarter 2025 financial results on November 4, 2025, after market close, followed by a live webinar at 5 p.m. ET [1][2] - The company is participating in several upcoming conferences, including the RBC Global TIMT Conference and the UBS Global Technology and AI Conference [3] Company Overview - Axon is a leader in public safety technology, focusing on innovation to enhance safety for various stakeholders, including law enforcement and communities [3] - The company offers a comprehensive suite of products, including TASER devices, cameras, drones, and AI-driven solutions, designed to work together for improved safety outcomes [3] Responsible Innovation - Axon emphasizes the importance of responsible innovation, ensuring that technology serves humanity and addresses real challenges faced by customers [5] - The company collaborates closely with users and maintains transparency, fairness, and accountability in its product development [5]

Group 1 - Axon will report its second quarter 2025 financial results on August 4, 2025, after market close [1] - A live Zoom webinar will be held at 5 p.m. ET on the same day to discuss the financial results [1][2] - An archived replay of the webinar will be available after the call ends [2] Group 2 - Axon will participate in the Goldman Sachs Communacopia + Technology Conference on September 9, 2025 [3] - Events from the conference will be webcast live and archived on Axon's investor relations website [3] Group 3 - Axon is a leader in global public safety technology, aiming to reduce gun-related deaths by 50% before 2033 [4] - The company integrates hardware devices and cloud software solutions for modern policing, including TASER devices and body cameras [4] - Axon's customer base includes various sectors such as law enforcement, fire, corrections, emergency medical services, and the justice sector [4]