Axon's first quarter 2026 revenue climbs 34%, beating estimates and prompting a raised full-year forecast.

Axon reported first quarter 2026 revenue of $807.3 million, a 34% increase year-over-year that significantly beat analyst estimates. GAAP EPS was $2.05, also well above expectations. Growth was broad-based, with Software & Services revenue up 35% and Connected Devices up 33%, leading the company to raise its annual revenue guidance.

Key Highlights

• The company raised its full-year 2026 revenue growth outlook to a range of 30% to 32%, an increase from the prior range of 27% to 30%.
• Annual Recurring Revenue (ARR) grew 35% year-over-year to $1.5 billion, supported by a strong net revenue retention rate of 125%.
• Platform Solutions revenue, part of Connected Devices, accelerated growth by increasing 95% year-over-year, driven by a 300% increase in counter-drone product sales and a more than 700% increase in AI product revenue.