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	20.72
Stock-Based Compensation	634.23	382.6	131.36	106.18	303.33
Other Adjustments	-148.97	-327.06	-12.38	-60.19	-95.23
Change in Receivables	-505.56	-245.84	-178.99	-78.23	-205.77
Changes in Inventories	-81.95	0.61	-77.63	-95.01	-18.27
Changes in Accounts Payable	286.89	54.52	65.33	80.98	45.3
Changes in Unearned Revenue	83.48	155.64	146.82	155.57	175.62
Changes in Other Operating Activities	-264.59	-37.61	-80.35	-43.98	-40.16
Operating Cash Flow	211.34	408.31	189.26	235.36	125.52
Operating Cash Flow Growth	-48.24%	115.74%	-19.59%	87.51%	257.25%
Capital Expenditures	-136.26	-78.79	-59.64	-55.8	-49.89
Sale of Property, Plant & Equipment	-	-	-	-	0.04
Purchases of Intangible Assets	-	-	-	-	-0.39
Purchases of Investments	-2,076	-793.42	-563.68	-845.18	-407.98
Proceeds from Sale of Investments	2,135	1,003	657.42	72.14	733.16
Payments for Business Acquisitions	-646.88	-621.82	-21.09	-2.1	-22.39
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	-	-	-	673.77	-
Long-Term Debt Repaid	-608.89	-	-	-	-
Net Long-Term Debt Issued (Repaid)	-608.89	-	-	673.77	-
Issuance of Common Stock	2,240	14.58	149.21	124.2	157.13
Repurchase of Common Stock	-350.98	-58.18	-107.89	-4.87	-331.31
Net Common Stock Issued (Repurchased)	1,889	-43.6	41.31	119.33	-174.18
Other Financing Activities	-27.22	-1.84	-	-194.99	-
Financing Cash Flow	1,252	-45.44	41.31	598.1	-174.18
Effect of Exchange Rate Changes on Cash and Cash Equivalents	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	75.64
Free Cash Flow Growth	-77.22%	154.21%	-27.81%	137.40%	-
FCF Margin	2.70%	15.82%	8.31%	15.13%	8.76%
Free Cash Flow Per Share	0.91	4.19	1.72	2.48	1.14
Levered Free Cash Flow	-513.52	519.83	189.63	885.57	73.3
Unlevered Free Cash Flow	-437.11	200.65	189.4	134.48	61.95

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.