Axon Enterprise reported second-quarter 2026 revenue of $904.4 million, up 35.3% year over year and ahead of the Zacks Consensus Estimate of $868.4 million. Adjusted EBITDA margin expanded 110 basis points to 26.8%, helped by strong revenue growth and global tariff refunds, even as cost of sales rose 35.2% to $357.9 million. The company expects a 2026 adjusted EBITDA margin of about 25.5% and targets roughly 28% by 2028 on annual revenues of $6 billion. Shares have gained 25% in the past month, and the stock trades at a forward price-to-earnings ratio of 64.7 times, above the industry average of about 39 times.
Axon Enterprise Inc.Q2 revenue surged 35.3% to $904.4M, beating estimates, with EBITDA margin expansion and raised outlook.
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