Company / R&D Expense
Axon Enterprise R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$684.3M
FY2025
5-year range
$194.0M / $684.3M
FY2021-FY2025
Trend
+55.0%
vs FY2024
Sector context
#17 of 174
Industrials
What the data says
Among 174 Industrials companies, Axon Enterprise is in the top 10% for r&d expense. R&D Expense has increased for 9 consecutive years, from $31M in FY2016 to $684M in FY2025.
Based on SEC 10-K filings.
$684M in FY2025 with a 5-year CAGR of +40.9%. Top quartile in the Industrials sector.
Improved from $304M to $684M over the past 2 years.
Industrials sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +43.0%
- 5-Year CAGR
- +40.9%
- 10-Year CAGR
- -
Sector benchmark
Top 10% in IndustrialsTop 10% of 174This company $684.3M Sector average $273.7M
▼
+150.0% above sector average
Key checks
Key Insights
- Axon Enterprise's r&d expense has grown for 9 consecutive years.
- 5-year CAGR of +40.9%, indicating consistent growth.
- In FY2025, r&d expense increased 55.0% year-over-year.
- Ranks #17 out of 174 companies in the Industrials sector.
Company context
Key Data Points
- Altman Z-Score 1.07 (distress zone, below 1.8 threshold)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $684.3M | +55.0% |
| FY2024 | $441.6M | +45.4% |
| FY2023 | $303.7M | +29.9% |
| FY2022 | $233.8M | +20.5% |
| FY2021 | $194.0M | +57.5% |
| FY2020 | $123.2M | +22.3% |
| FY2019 | $100.7M | +31.1% |
| FY2018 | $76.9M | +38.8% |
| FY2017 | $55.4M | +80.9% |
| FY2016 | $30.6M | +29.6% |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026