Axon Enterprise Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	124.66	377.03	175.78	146.93	-60.02
Depreciation & Amortization	83.16	48.43	19.32	23.12	18.69
Loss (Gain) From Sale of Investments	-139.97	-283.22	41.79	-98.94	-17.82
Stock-Based Compensation	634.23	382.6	131.36	106.18	303.33
Provision & Write-off of Bad Debts	11.35	20.07	5.48	0.7	-
Other Operating Activities	-20.34	-63.92	-59.64	38.05	-76.41
Change in Accounts Receivable	-505.56	-245.84	-178.99	-78.23	-205.77
Change in Inventory	-81.95	0.61	-77.63	-95.01	-18.27
Change in Accounts Payable	286.89	54.52	65.33	80.98	45.3
Change in Unearned Revenue	83.48	155.64	146.82	155.57	175.62
Change in Other Net Operating Assets	-264.59	-37.61	-80.35	-43.98	-40.16
Operating Cash Flow	211.34	408.31	189.26	235.36	124.49
Operating Cash Flow Growth	-48.24%	115.74%	-19.59%	89.05%	223.52%
Capital Expenditures	-136.26	-78.79	-59.64	-55.8	-49.89
Sale of Property, Plant & Equipment	-	-	-	-	0.04
Cash Acquisitions	-646.88	-621.82	-21.09	-2.1	-22.39
Sale (Purchase) of Intangibles	-	-	-	-	-0.39
Investment in Securities	58.25	209.98	93.74	-773.04	325.18
Other Investing Activities	-0.05	0.05	-0.54	-0.02	-
Investing Cash Flow	-724.93	-490.57	12.48	-830.97	252.56
Long-Term Debt Issued	1,750	-	-	673.77	-
Long-Term Debt Repaid	-608.89	-	-	-194.99	-
Net Debt Issued (Repaid)	1,141	-	-	478.78	-
Issuance of Common Stock	489.55	14.58	149.21	-	157.13
Repurchase of Common Stock	-350.98	-58.18	-107.89	-4.87	-331.31
Other Financing Activities	-27.22	-1.84	-	124.2	-
Financing Cash Flow	1,252	-45.44	41.31	598.1	-174.18
Foreign Exchange Rate Adjustments	7.76	-6.21	2.07	-3.38	-1.98
Net Cash Flow	746.63	-133.91	245.12	-0.89	200.89
Free Cash Flow	75.08	329.53	129.63	179.56	74.61
Free Cash Flow Growth	-77.22%	154.21%	-27.81%	140.67%	-
Free Cash Flow Margin	2.70%	15.82%	8.31%	15.13%	8.64%
Free Cash Flow Per Share	0.91	4.20	1.72	2.48	1.13
Cash Interest Paid	-	3.45	3.51	-	-
Cash Income Tax Paid	-	67.85	64.49	10.51	5.11
Levered Free Cash Flow	218.39	392.34	101.12	151.79	81.27
Unlevered Free Cash Flow	277.29	396.78	105.49	151.79	81.27
Change in Working Capital	-481.74	-72.69	-124.82	19.33	-43.28

Source: S&P Global Market Intelligence. Standard template. Financial Sources.