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Operating Expense Breakdown
Details spending on R&D, sales & marketing, and general administration, showing how Axon allocates capital between product development (like cameras and software), customer acquisition, and scaling operations — key to understanding margin trends and long‑term profitability.Axon is aggressively scaling: R&D spending has ramped to support AI, platform and product expansion while SG&A has jumped as the company builds inventory, expands internationally and integrates acquisitions (Dedrone/Fusus) and go‑to‑market capacity. That mix explains near‑term cash and margin headwinds—compounded by substantial stock‑based comp and lower‑margin hardware—yet management points to H2 operating leverage and strong bookings to convert these investments into durable growth; execution and hardware margin scaling remain the key risks to watch.
Date | Research and Development | Selling, General, and Administrative |
|---|---|---|
Jun 30, 2026 | $208.69M | $290.98M |
Mar 31, 2026 | $188.95M | $259.09M |
Dec 31, 2025 | $194.04M | $317.37M |
Sep 30, 2025 | $176.67M | $252.80M |
Jun 30, 2025 | $162.57M | $242.21M |
Mar 31, 2025 | $151.02M | $223.51M |
Dec 31, 2024 | $134.59M | $227.02M |
Sep 30, 2024 | $114.48M | $192.19M |
Jun 30, 2024 | $101.43M | $169.43M |
Mar 31, 2024 | $91.10M | $152.67M |