WASHINGTON (dpa-AFX) - Axon Enterprise, Inc. (AXON), a public safety technology company, reported on Thursday a swing to profit in the third quarter, compared with a loss last year, driven largely by growth in its software business and increasing demand for its connected devices and platform solutions.
The company reported net income of $57.0 million, or $0.68 per share, compared to a net loss of $2.2 million, or $0.03 per share, a year earlier.
Adjusted net income rose to $143.5 million, or $1.72 per share, from $102.7 million, or $1.24 per share.
Revenue climbed 28% to $908.6 million, driven by strong growth in Software & Services and Platform Solutions.
Software & Services revenue surged 43% to $437 million, while Connected Devices revenue rose 16% to $471.5 million. Within Connected Devices, Platform Solutions revenue more than doubled to $125 million, supported by demand for drones and counter-drone technology.
The Skydio investment will make Axon the exclusive distributor of Skydio drones for public safety customers in the U.S. and Canada. The transactions are expected to close in the fourth quarter of 2026 and first quarter of 2027, subject to customary conditions.
Separately, the company announced a major expansion of its partnership with drone maker Skydio through an additional $1.2 billion investment, raising its ownership stake to 37% and securing exclusive public-safety distribution rights in the U.S. and Canada.
For the fourth quarter, Axon expects revenue of $990 million to $1.01 billion and adjusted EBITDA of $245 million to $250 million. For the full year 2026, revenue is projected at approximately $3.61 billion to $3.63 billion, representing growth of about 30%, compared with its previous growth outlook of 32% to 34%.
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