Axon Enterprise, Inc. (AXON) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Axon Enterprise (AXON) by buying shares or fractional shares at any major broker, through an ETF that holds it (ITA, PPA, QQQ), or as one holding in a thematic basket. Axon is a high-growth, founder-led public-safety platform that sells body cameras and TASERs as the entry point, then compounds high-margin recurring revenue through its Evidence.com cloud and AI features (auto-redaction, transcription, Draft One report writing). Motorola Solutions is its main hardware rival; Axon is effectively the monopoly TASER supplier.
AXON stock price
As of 2026-07-23, Axon Enterprise, Inc. (AXON) last closed at $491.90, down 30.6% over the past year. Over the past 52 weeks it has traded between $345.94 and $870.97.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Axon Enterprise, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Axon Enterprise, Inc. (AXON) do?
Axon Enterprise (formerly TASER International) is the dominant supplier of body-worn cameras, in-car video, and conducted electrical weapons (TASERs) to law enforcement worldwide. The company also operates Axon Evidence (Evidence.com), the cloud-based digital evidence management platform that integrates video, audio, and case records, and Axon Records (records management system). Each Axon hardware device generates data that gets stored, processed, and analyzed in Axon's cloud platform, creating a recurring SaaS revenue stream.
The business model is structurally subscription-heavy: hardware (cameras, TASERs) is sold to law enforcement agencies but the larger long-term revenue comes from cloud storage subscriptions, analytics, and increasingly AI-driven features (auto-redaction, transcription, summarization). Founded in 1993 by Rick Smith, headquartered in Scottsdale, Arizona. Rick Smith is still CEO and the company's largest individual shareholder.
What's driving Axon Enterprise, Inc. (AXON)?
1. AI-powered features.
Axon has been aggressively shipping AI features: automatic transcription of officer body-cam audio, auto-redaction of faces and license plates, AI-assisted report writing (Draft One product), and predictive analytics. These features are sold as premium SaaS subscriptions that materially increase revenue per officer.
2. International expansion.
While the US is the largest market, Axon has been expanding into European and other international law enforcement agencies. The product portfolio adapts to local requirements; international growth has been a meaningful contributor.
3. Enterprise and private security adjacencies.
Axon has expanded beyond law enforcement into corporate security, retail loss prevention, and other adjacent markets. These markets are smaller but provide diversification away from the public safety budget cycle.
4. Justice agency adjacencies.
Axon Records and Axon Standards are expanding into prosecutor offices, courts, and other justice agencies. Each new product category extends the relationship with existing law enforcement customers.
What are the risks to Axon Enterprise, Inc. (AXON)?
Public sector budget cycles affect short-term revenue. Regulatory debates around law enforcement technology (facial recognition, predictive policing) constrain some product features. Competition from Motorola Solutions in body-worn cameras has intensified.
How is Axon Enterprise, Inc. (AXON) valued? (approximate, early 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Axon Enterprise, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$2.5 billion
- Operating margin: ~25% (non-GAAP)
- Net income (TTM): ~$400 million (GAAP)
- EPS (TTM): ~$5.20
- P/E (TTM): ~120x (GAAP); ~80x (non-GAAP)
- Price to sales: ~25x
- Dividend yield: None
- Free cash flow: ~$400 million annually
- Cloud and services revenue: Growing 30%+ year over year
Axon trades at one of the highest valuations in public sector software, reflecting the dominant position in law enforcement video and TASERs, the high-margin SaaS conversion, and the AI feature roadmap. The premium embeds high expectations and is sensitive to budget cycles.
Which ETFs hold Axon Enterprise, Inc. (AXON)?
If you want AXON exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.
What themes does Axon Enterprise, Inc. (AXON) fit?
These are the investment theses AXON naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.
Who competes with Axon Enterprise, Inc. (AXON)?
Body-worn cameras and law enforcement video
Motorola Solutions (after acquiring WatchGuard and others) is the primary direct competitor and has expanded aggressively into Axon's core market. Smaller specialty competitors include Reveal and various international body-cam vendors.
Conducted electrical weapons (TASERs)
Axon is essentially the monopoly supplier of conducted electrical weapons. The market is mature; TASER replacement cycles and upgrade revenue drive ongoing demand.
Digital evidence management
Motorola Solutions CommandCentral, Tyler Technologies, Hexagon's safety and security platform, and various specialty competitors compete in evidence management software. Axon's Evidence.com benefits from being bundled with the dominant body-cam hardware.
What stocks are similar to Axon Enterprise, Inc. (AXON)?
Other names that show up alongside AXON in the same themes. Worth a look if you're thinking about diversification within a single thesis rather than concentration on one ticker.
Also fits Defense and modernization. One of the largest software vendors to the US DoD and intelligence community; durable government revenue base.
Also fits Defense and modernization. Land mobile radio for public safety; mission-critical communications across police, fire, and emergency services.
Also fits Defense and modernization. Beryllium-based alloys and specialty materials for defense and aerospace applications; one of few qualified Western suppliers.
Also fits Defense and modernization. Wireless and video technology research used in defense communications and standards.
How to invest in Axon Enterprise, Inc. (AXON)
There are three common ways to get AXON exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (XAR, PPA, ITA), which spreads the position across many companies. Or build it into a focused thematic basket, so AXON sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where AXON fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Axon Enterprise, Inc. (AXON)
Axon Enterprise (AXON) is a dominant law-enforcement hardware-plus-SaaS company whose growth engine is AI-driven cloud subscriptions layered on top of cameras and TASERs. In a portfolio it behaves as a high-multiple, growth-tilted holding that is sensitive to public-sector budget cycles and policing-technology regulation, distinct from the cash-flow profile of traditional defense primes.
More on Axon Enterprise, Inc. (AXON)
Whether AXON is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is AXON a buy?, and where the stock could go from here in the AXON stock forecast.
For income investors, whether AXON pays a dividend and how the payout looks is covered in does AXON pay a dividend? And to weigh AXON against a peer, read the full side-by-side comparisons: AXON vs PLTR and AXON vs MSI.
Build a basket around AXON with Walnut
Use Axon Enterprise, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is Axon's ticker symbol?
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AXON, listed on Nasdaq. Officially Axon Enterprise, Inc. (formerly TASER International). Founded 1993 by Rick Smith, headquartered in Scottsdale, Arizona. The company renamed from TASER International to Axon Enterprise in 2017 to reflect its broader platform identity.
Who are Axon's competitors?
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In body-worn cameras and law enforcement video: Motorola Solutions (after acquiring WatchGuard and others) is the primary direct competitor. In conducted electrical weapons: Axon is essentially the monopoly supplier. In digital evidence management software: Motorola CommandCentral, Tyler Technologies, Hexagon's safety platform.
Is Axon a good growth stock?
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Yes, by most metrics. Revenue has grown 25-30% year over year consistently, driven by both hardware (body cameras, TASERs) and especially cloud and services (Evidence.com, AI features). Cloud and services revenue is growing 30%+ and now contributes meaningful operating leverage. The dominant position in public safety video is a structural advantage.
What is Axon's P/E ratio?
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Approximately 120x trailing twelve months on GAAP earnings as of early 2026; approximately 80x on non-GAAP. Among the highest valuations in public sector technology, reflecting the dominant market position, the AI feature roadmap, and durable 25%+ revenue growth.
What does Axon do?
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Axon provides body-worn cameras, in-car video, and conducted electrical weapons (TASERs) to law enforcement, plus the Axon Evidence cloud platform (Evidence.com) for digital evidence management and Axon Records (records management system). Newer AI features include auto-transcription, auto-redaction, and AI-assisted report writing through the Draft One product.
Who owns the most Axon stock?
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Founder and CEO Rick Smith retains a meaningful personal stake (around 3-4% of shares outstanding). Major institutional holders include Vanguard, BlackRock, and various public safety and growth-focused funds. Insider alignment with founder is meaningful.
Is Axon a defense stock?
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Partially. Axon's primary customers are law enforcement (police, sheriffs, federal LE agencies), not military. The company is included in ITA (aerospace and defense ETF) at ~4.2% because its products serve the broader public safety / national security category. Defense-themed funds include AXON as part of the modernization narrative.
Which ETFs have the most Axon exposure?
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ITA (iShares US Aerospace & Defense) holds AXON at ~4.2%, one of its larger holdings outside the major defense primes. PPA (Invesco Aerospace & Defense) holds AXON at similar weight. QQQ holds AXON at ~0.5% (added to Nasdaq-100 in 2024). VOO holds AXON at ~0.2%. Specialty public safety ETFs hold AXON at higher concentrations.
Which thematic baskets typically include Axon?
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One theme on Walnut: Defense and modernization (body cameras, TASERs, and the dominant digital evidence platform for law enforcement). AXON is the largest growth-tilted name in the theme, complementing more mature defense exposures like PLTR.
How much of ITA is Axon?
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Approximately 4.2% as of early 2026. AXON is typically the sixth or seventh-largest ITA holding, behind only the major defense primes (RTX, Boeing, Lockheed Martin, General Dynamics, Northrop Grumman). The weight reflects Axon's market cap relative to the defense prime base.
Is Axon in the S&P 500?
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Yes. AXON was added to the S&P 500 in May 2024 after meaningful market cap growth. It is now a top-150 S&P 500 holding by market cap. The index inclusion broadened passive ownership materially and was followed by Nasdaq-100 inclusion later in 2024.
What is Axon's market cap?
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Approximately $30 billion as of early 2026. Market cap has grown several multiples since 2022 on consistent 25-30% revenue growth and the AI feature roadmap. AXON is now one of the larger US public safety technology companies by market cap.
Does Axon pay a dividend?
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No. Axon has not paid a dividend historically and has prioritized growth investment plus opportunistic share buybacks. Given the growth-focused capital allocation and continued R&D investment in AI features, dividend initiation is unlikely in the near term.
Should I own Axon directly or through ITA?
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Both common. Direct AXON gives concentrated public safety video and AI software exposure with full upside on the growth thesis. ITA includes AXON at ~4.2% along with the major defense primes (RTX, LMT, GD, NOC, BA). Many Walnut users hold AXON directly in defense baskets because the growth-tilted thesis is different from the defense prime cash-flow thesis.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Axon Enterprise, Inc.'s investor relations page or your broker before making investment decisions.