Total Revenue

+33% (from ~$432.19M in Q4 2023 to $573.43M in Q4 2024)

Robust demand across both TASER and Software & Sensors segments drove total revenue growth, building on the prior period’s strong performance and expanding customer adoption, which led to a significant jump from ~$432.19M to $573.43M. " "

U.S. Revenue

+24% (from $383.25M in Q4 2023 to $474.68M in Q4 2024)

Strong domestic demand propelled U.S. revenue growth, as established product success and ongoing operational momentum in the U.S. market helped boost revenue compared to the previous quarter. " " " "

Revenue from Other Countries

+101% (from $48.9M in Q4 2023 to $98.7M in Q4 2024)

Significant international expansion and larger hardware orders, especially in key regions, contributed to revenue more than doubling internationally, building on an already growing pipeline from earlier periods. " " " "

Operating Income

Deteriorated (from a profit of $42.81M in Q4 2023 to a loss of -$15.76M in Q4 2024)

Margin pressure from rising operating expenses (such as increases in SG&A and R&D) and other cost factors outpaced revenue growth, reversing the prior period’s profit into a loss despite higher top-line sales. " "

Net Income

+136% (from $57.27M in Q4 2023 to $135.18M in Q4 2024)

Non-operating gains and improved tax effects, alongside robust revenue growth, significantly enhanced net income even as operating margins were compressed, leading to a surge from $57.27M to $135.18M. " "

Diluted EPS

Increased (from $0.75 in Q4 2023 to $1.67 in Q4 2024)

Substantial net income growth drove the rise in diluted EPS, reflecting the company’s overall improved profitability even amid elevated operating costs, with EPS nearly doubling compared to the previous period. " "

Revenue

Q4 2024

$560 million to $570 million, representing >30% growth "

No guidance

no current guidance

Adjusted EBITDA

Q4 2024

$130 million to $135 million, implying an adjusted EBITDA margin of ~23.5% "

No guidance

no current guidance

Revenue

FY 2024

Approximately $2.07 billion, representing >32% annual growth (previously $2 billion–$2.05 billion, 29.5% growth) "

No guidance

no current guidance

Adjusted EBITDA

FY 2024

Approximately $510 million, implying a margin of 24.6% "

No guidance

no current guidance

Long-Term Margin Target

2025

Adjusted EBITDA margin target of 25% for 2025 "

No guidance

no current guidance

Revenue

FY 2025

No prior guidance

$2.55 billion to $2.65 billion, representing ~25% annual growth at the midpoint "

no prior guidance

Adjusted EBITDA

FY 2025

No prior guidance

$640 million to $670 million, representing ~25% margins "

no prior guidance

Capital Expenditures (CapEx)

FY 2025

No prior guidance

$140 million to $180 million, up year‑over‑year on a dollar basis but only up 2 points as a percent of revenue "

no prior guidance

Bookings and Pipeline Growth

Q1: Bookings were described as seasonally low with expectations for a strong pipeline underpinning later quarters. " " " Q2: Record bookings over $1B and a robust pipeline were noted. " " Q3: Record bookings and development of the largest-ever pipeline were highlighted. " "

Q4: Bookings exceeded $5B for the year, with the pipeline described as the “healthiest state ever” and numerous record deals – including a major international and enterprise push. " "

Consistent momentum with improved deal quality and record-breaking figures, showing increasing strength over time.

AI Product Adoption

Q1: Draft One received positive early feedback with low friction to adoption and minimal integration concerns. " " Q2: Exceptional customer response led to over $100M in pipeline generation around Draft One. " " Q3: Continued rollout of an expanding AI suite with attention to integration across products was noted. " "

Q4: Adoption is now the fastest-growing in company history with rapid deal closures and no new integration challenges flagged. " "

Adoption speed and customer enthusiasm have markedly increased, with smoother integration and a stronger market response.

Enterprise Segment Expansion

Q1: Over 25% of revenue came from non-domestic law enforcement channels, including emerging enterprise markets. " Q2: Significant traction in federal, international, and enterprise segments was reported. " Q3: Initial trials with Fortune 500 companies in retail security signaled early-stage expansion. "

Q4: Enterprise bookings tripled year-over-year and the company closed its largest-ever global logistics deal, supported by major go-to-market investments. " "

Growth is accelerating in the enterprise segment with strategic investments yielding record deals.

International Growth and Cloud Adoption

Q1: International contributions were significant (over 25% of revenue) with strategic steps (e.g. Dedrone acquisition) aimed at boosting global reach and moderate cloud revenue growth. " " Q2: International bookings grew 100% year-to-date with steady cloud adoption momentum. " " Q3: International growth was strong with 40% sequential gains and cloud revenue rising 36% YoY. " "

Q4: International bookings surged nearly 50% sequentially and cloud services revenue increased by $35M – marking record quarter-on-quarter results. " "

Consistent and accelerating expansion internationally with increasingly robust cloud adoption figures.

Federal Contracts and Government Funding Risks

Q1: The federal segment was acknowledged as healthy with phased, multi-year bookings. " Q2: Not explicitly discussed. Q3: Federal opportunities were bolstered by FedRAMP certification and double-digit growth, along with an apolitical stance. " "

Q4: Executives expressed optimism about federal opportunities, emphasizing that essential public safety products and strong pipeline reduce funding risk concerns. " " "

An increasingly confident outlook on federal work as risk perceptions are mitigated through strategic positioning and essential product offerings.

Software Revenue and ARR Growth Challenges

Q1: Software revenue and ARR growth were strong with ARR at $825M and no noted issues. " Q2: Continued robust performance with ARR up 44% YoY and consistent software revenue mix. " " Q3: Some timing and seasonality issues were mentioned, leading to transient fluctuations in ARR growth. " "

Q4: Software revenue grew 41% YoY and ARR reached $1B with stable high retention, and no explicit challenges were highlighted. " " "

Initial timing concerns have been resolved, resulting in stable, robust growth without evident recurring challenges.

High Demand for TASER Products

Q1: TASER 10 was hailed as a “monster” product with demand double that of TASER 7, leading to capacity investments. " Q2: TASER 10 was the fastest-selling device, with a strong order book expanding into federal, international, and corrections markets. " " Q3: Exceptionally strong demand continued alongside capacity constraints and record revenue growth (36% YoY). " "

Q4: Demand remains very high with TASER 10 orders at 2x that of TASER 7; production capacity is being ramped up to keep pace. " "

Consistently robust demand driving ongoing capacity investment and revenue growth across all periods.

Acquisition and Integration Challenges

Q1: The planned Dedrone acquisition was announced with acknowledgment of integration costs that would slightly impact margins, though viewed strategically for long-term expansion. " " Q2: Integration was expected to have an immaterial impact, with a positive strategic spin on combining complementary technologies. " " Q3: Integration costs (especially from Dedrone) were noted to lower EBITDA margins temporarily. " "

Q4: No explicit integration challenges were reported; acquisitions are now seen as contributing positively to expanding the total addressable market. " "

Early integration challenges have been increasingly managed, with acquisitions now supporting growth and strategic market expansion.

Tariffs and Geopolitical Risks

Q1: Not mentioned. Q2: Not mentioned. Q3: Tariffs were addressed by emphasizing a flexible, diversified supply chain and an apolitical culture to mitigate risks. " "

Q4: Continued flexibility in the supply chain and detailed commentary on current tariff discussions provided assurance that geopolitical risks will not derail guidance. "

A topic emerging in Q3 has remained consistent into Q4, with proactive strategies mitigating potential risks.

Investments in Drones and Robotics

Q1: Investments focused on establishing drone-as-first-responder (DFR) initiatives and the strategic Dedrone acquisition to enhance robotic security. " " " Q2: Expanded through strategic partnerships with Skydio, Dedrone, and DroneSense, laying the foundation for rapid agency adoption and market expansion. " " Q3: Emphasis on leveraging legislative changes and Dedrone integration further accelerated drone initiatives. "

Q4: Investments have intensified with multiple acquisitions and partnerships that reinforce Axon’s leadership in drones and robotics – aiming at a $20B TAM and critical applications in public safety. " " " "

Steady strategic investment with growing clarity and market positioning, driving long-term growth in robotic security and drone applications.

Revenue Growth Deceleration Concerns

Q1: Conservative full‐year guidance was issued, highlighting strong Q1 growth while noting seasonal factors and lapping an especially strong previous year. " Q2: Growth remained strong without explicit deceleration concerns. " Q3: Timing dynamics and seasonality were blamed for perceptions of deceleration, though fundamentals stayed solid. " "

Q4: No deceleration concerns were raised; the quarter achieved over 25% growth with strong fundamentals and a robust pipeline underpinning future performance. " "

Early caution due to timing effects has eased, with growth figures reflecting continued robust performance.