Axon reports Q3 2024 Revenue of $544 Million, up 32% Year over Year, Raises Outlook

Axon Cloud & Services revenue grows 36% to $203 million
Annual recurring revenue grows 36% to $885 million
Net income of $67 million supports non-GAAP net income of $113 million and Adjusted EBITDA of $145 million
Raises full year revenue outlook to approximately $2.07 billion, over 32% annual growth; expects full year Adjusted EBITDA margin of approximately 24.6%

Brittany Bagley, COO & CFO at Axon said:

I’m pleased to report a strong Q3 for Axon, fueled by innovation, adoption, and customer impact. We achieved attractive high growth across TASER, Axon Cloud & Services, and ARR driven by strong demand for TASER 10, Axon VR training, and Axon Evidence adoption. Coupled with sustained topline growth we continue to successfully prioritize the bottom line – reporting our highest Adjusted EBITDA margin in three years.

Our AI roadmap is a force multiplier, with new tools like Axon Body 4 Live Translation, Evidence Translation, and Smart Capture designed to enhance productivity and efficiency for our customers. We’re thrilled by the FAA’s historic waiver for Campbell PD’s 24/7 DFR program, marking a major step forward in public safety. Axon remains committed to being a Force for Good for our customers and communities, and we are thankful for their trust and support.