-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
Axon delivered Q1 revenue of $807M (+34% Y/Y), beating consensus by 3.5% and marking the ninth consecutive quarter of 30%+ growth. Adjusted EPS of $1.61 rose 9.5% Y/Y, marginally exceeding expectations, though EPS growth decelerated relative to revenue growth due to ongoing margin pressures. The results reinforce that Axon's integrated ecosystem strategy is resonating with customers across multiple verticals, with balanced strength in Software & Services (+35% Y/Y to $355M) and Connected Devices (+33% Y/Y to $453M). Management maintained full-year 2026 guidance of 25.5% EBITDA margin and 27%-30% revenue growth. Platform Solutions surged 95% Y/Y to $111M, with counter-drone systems growing over 300% Y/Y following the Dedrone acquisition and AI Era Plan products up over 700% Y/Y. Annual recurring revenue reached $1.5B (+35% Y/Y) with 125% net revenue retention, while future contracted bookings grew 44% Y/Y to $14.3B, supporting the ambitious 2028 target of $6B revenue and providing strong revenue visibility.