Axon Enterprise (AXON) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-16391
Entity Registrant Name	Axon Enterprise, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-0741227
Entity Address, Address Line One	17800 North 85th Street
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85255
City Area Code	480
Local Phone Number	991-0797
Title of 12(b) Security	Common Stock, $0.00001 Par Value
Trading Symbol	AXON
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		76,254,776
Entity Central Index Key	0001069183
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 695,144	$ 598,545
Marketable securities	151,560	77,940
Short-term investments	311,570	644,054
Accounts and notes receivable, net of allowance of $3,292 and $2,392 as of September 30, 2024 and December 31, 2023, respectively	512,662	412,961
Contract assets, net	372,923	287,232
Inventory	272,295	269,855
Prepaid expenses and other current assets	117,592	103,055
Total current assets	2,433,746	2,393,642
Property and equipment, net	235,881	200,533
Deferred tax assets, net	244,317	227,784
Intangible assets, net	81,748	19,539
Goodwill	308,472	57,945
Long-term notes receivable, net	2,898	2,588
Long-term contract assets, net	119,973	84,382
Strategic investments	387,905	231,730
Other long-term assets	190,718	191,031
Total assets	4,005,658	3,409,174
Current liabilities:
Accounts payable	75,590	65,852
Accrued liabilities	209,691	193,550
Current portion of deferred revenue	505,008	470,415
Customer deposits	22,234	21,935
Other current liabilities	10,704	9,787
Total current liabilities	823,227	761,539
Deferred revenue, net of current portion	305,414	270,901
Liability for unrecognized tax benefits	20,342	18,049
Long-term deferred compensation	15,605	11,342
Long-term lease liabilities	41,223	33,550
Convertible notes, net	679,483	677,113
Other long-term liabilities	20,528	20,915
Total liabilities	1,905,822	1,793,409
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred stock, $0.00001 par value; 25,000,000 shares authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively	0	0
Common stock, $0.00001 par value; 200,000,000 shares authorized; 76,084,179 and 75,301,424 shares issued and outstanding as of September 30, 2024, and December 31, 2023, respectively	1	1
Additional paid-in capital	1,588,072	1,347,410
Treasury stock at cost, 20,220,227 shares as of September 30, 2024 and December 31, 2023	(155,947)	(155,947)
Retained earnings	676,830	434,980
Accumulated other comprehensive loss	(9,120)	(10,679)
Total stockholders’ equity	2,099,836	1,615,765
Total liabilities and stockholders’ equity	$ 4,005,658	$ 3,409,174

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance on accounts receivable	$ 3,292	$ 2,392
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	76,084,179	75,301,424
Common stock, shares outstanding (in shares)	76,084,179	75,301,424
Treasury stock, shares (in shares)	20,220,227	20,220,227

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales	$ 544,274	$ 413,278	$ 1,507,381	$ 1,130,323
Cost of sales	213,527	156,622	611,850	438,862
Gross margin	330,747	256,656	895,531	691,461
Operating expenses:
Sales, general and administrative	192,189	122,357	514,228	357,611
Research and development	114,477	76,880	307,008	219,747
Total operating expenses	306,666	199,237	821,236	577,358
Income from operations	24,081	57,419	74,295	114,103
Interest income, net	10,978	10,458	31,134	29,787
Other income (loss), net	44,510	3,852	191,510	(42,569)
Income before provision for income taxes	79,569	71,729	296,939	101,321
Provision for (benefit from) income taxes	12,544	10,420	55,089	(17,401)
Net income	$ 67,025	$ 61,309	$ 241,850	$ 118,722
Net income per common and common equivalent shares:
Basic (in dollars per share)	$ 0.89	$ 0.82	$ 3.20	$ 1.61
Diluted (in dollars per share)	$ 0.86	$ 0.81	$ 3.12	$ 1.58
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	75,697	74,826	75,543	73,904
Diluted (in shares)	78,080	75,952	77,614	75,212
Net income	$ 67,025	$ 61,309	$ 241,850	$ 118,722
Net income	67,025	61,309	241,850	118,722
Foreign currency translation adjustments	4,640	(6,799)	1,112	(5,680)
Unrealized gain (loss) on available-for-sale investments	434	656	447	(10)
Comprehensive income	72,099	55,166	243,409	113,032
Products
Net sales	327,900	255,055	891,087	707,563
Cost of sales	156,167	114,613	450,954	323,808
Services
Net sales	216,374	158,223	616,294	422,760
Cost of sales	$ 57,360	$ 42,009	$ 160,896	$ 115,054

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022		71,474,581
Beginning balance at Dec. 31, 2022	$ 1,270,666	$ 1	$ 1,174,594	$ (155,947)	$ 259,197	$ (7,179)
Treasury stock, shares, beginning balance (in shares) at Dec. 31, 2022				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		154,500
Issuance of common stock	33,650		33,650
Issuance of common stock under employee plans, net (in shares)		335,629
Issuance of common stock under employee plans, net	(34,841)		(34,841)
Stock options exercised (in shares)		1,901,535
Stock options exercised	54,346		54,346
Stock-based compensation	34,350		34,350
Issuance of common stock for business combination contingent consideration (in shares)		7,817
Net income	45,899				45,899
Other comprehensive (loss) income, net	1,860					1,860
Ending balance (in shares) at Mar. 31, 2023		73,874,062
Ending balance at Mar. 31, 2023	1,405,930	$ 1	1,262,099	$ (155,947)	305,096	(5,319)
Treasury stock, shares, ending balance (in shares) at Mar. 31, 2023				20,220,227
Beginning balance (in shares) at Dec. 31, 2022		71,474,581
Beginning balance at Dec. 31, 2022	1,270,666	$ 1	1,174,594	$ (155,947)	259,197	(7,179)
Treasury stock, shares, beginning balance (in shares) at Dec. 31, 2022				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	118,722
Ending balance (in shares) at Sep. 30, 2023		74,931,697
Ending balance at Sep. 30, 2023	1,525,058	$ 1	1,315,954	$ (155,947)	377,919	(12,869)
Treasury stock, shares, ending balance (in shares) at Sep. 30, 2023				20,220,227
Beginning balance (in shares) at Dec. 31, 2022		71,474,581
Beginning balance at Dec. 31, 2022	1,270,666	$ 1	1,174,594	$ (155,947)	259,197	(7,179)
Treasury stock, shares, beginning balance (in shares) at Dec. 31, 2022				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 175,783
Ending balance (in shares) at Dec. 31, 2023	75,301,424	75,301,424
Ending balance at Dec. 31, 2023	$ 1,615,765	$ 1	1,347,410	$ (155,947)	434,980	(10,679)
Treasury stock, shares, ending balance (in shares) at Dec. 31, 2023	20,220,227			20,220,227
Beginning balance (in shares) at Mar. 31, 2023		73,874,062
Beginning balance at Mar. 31, 2023	$ 1,405,930	$ 1	1,262,099	$ (155,947)	305,096	(5,319)
Treasury stock, shares, beginning balance (in shares) at Mar. 31, 2023				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		313,094
Issuance of common stock	61,156		61,156
Issuance of common stock under employee plans, net (in shares)		570,357
Issuance of common stock under employee plans, net	(62,214)		(62,214)
Stock options exercised (in shares)		5,491
Stock options exercised	157		157
Stock-based compensation	31,891		31,891
Net income	11,514				11,514
Other comprehensive (loss) income, net	(1,407)					(1,407)
Ending balance (in shares) at Jun. 30, 2023		74,763,004
Ending balance at Jun. 30, 2023	1,447,027	$ 1	1,293,089	$ (155,947)	316,610	(6,726)
Treasury stock, shares, ending balance (in shares) at Jun. 30, 2023				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	(101)		(101)
Issuance of common stock under employee plans, net (in shares)		168,693
Issuance of common stock under employee plans, net	(7,021)		(7,021)
Stock-based compensation	29,987		29,987
Net income	61,309				61,309
Other comprehensive (loss) income, net	(6,143)					(6,143)
Ending balance (in shares) at Sep. 30, 2023		74,931,697
Ending balance at Sep. 30, 2023	1,525,058	$ 1	1,315,954	$ (155,947)	377,919	(12,869)
Treasury stock, shares, ending balance (in shares) at Sep. 30, 2023				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 57,061				57,061
Ending balance (in shares) at Dec. 31, 2023	75,301,424	75,301,424
Ending balance at Dec. 31, 2023	$ 1,615,765	$ 1	1,347,410	$ (155,947)	434,980	(10,679)
Treasury stock, shares, ending balance (in shares) at Dec. 31, 2023	20,220,227			20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee plans, net (in shares)		164,747
Issuance of common stock under employee plans, net	$ (2,710)		(2,710)
Stock-based compensation	75,115		75,115
Issuance of replacement awards in connection with acquisitions	1,265		1,265
Net income	133,352				133,352
Other comprehensive (loss) income, net	(907)					(907)
Ending balance (in shares) at Mar. 31, 2024		75,466,171
Ending balance at Mar. 31, 2024	$ 1,821,880	$ 1	1,421,080	$ (155,947)	568,332	(11,586)
Treasury stock, shares, ending balance (in shares) at Mar. 31, 2024				20,220,227
Beginning balance (in shares) at Dec. 31, 2023	75,301,424	75,301,424
Beginning balance at Dec. 31, 2023	$ 1,615,765	$ 1	1,347,410	$ (155,947)	434,980	(10,679)
Treasury stock, shares, beginning balance (in shares) at Dec. 31, 2023	20,220,227			20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 174,825
Ending balance (in shares) at Jun. 30, 2024		75,573,214
Ending balance at Jun. 30, 2024	$ 1,933,381	$ 1	1,493,716	$ (155,947)	609,805	(14,194)
Treasury stock, shares, ending balance (in shares) at Jun. 30, 2024				20,220,227
Beginning balance (in shares) at Dec. 31, 2023	75,301,424	75,301,424
Beginning balance at Dec. 31, 2023	$ 1,615,765	$ 1	1,347,410	$ (155,947)	434,980	(10,679)
Treasury stock, shares, beginning balance (in shares) at Dec. 31, 2023	20,220,227			20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock options exercised (in shares)	350,000
Net income	$ 241,850
Ending balance (in shares) at Sep. 30, 2024	76,084,179	76,084,179
Ending balance at Sep. 30, 2024	$ 2,099,836	$ 1	1,588,072	$ (155,947)	676,830	(9,120)
Treasury stock, shares, ending balance (in shares) at Sep. 30, 2024	20,220,227			20,220,227
Beginning balance (in shares) at Mar. 31, 2024		75,466,171
Beginning balance at Mar. 31, 2024	$ 1,821,880	$ 1	1,421,080	$ (155,947)	568,332	(11,586)
Treasury stock, shares, beginning balance (in shares) at Mar. 31, 2024				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee plans, net (in shares)		107,043
Issuance of common stock under employee plans, net	(2,185)		(2,185)
Stock-based compensation	74,821		74,821
Net income	41,473				41,473
Other comprehensive (loss) income, net	(2,608)					(2,608)
Ending balance (in shares) at Jun. 30, 2024		75,573,214
Ending balance at Jun. 30, 2024	1,933,381	$ 1	1,493,716	$ (155,947)	609,805	(14,194)
Treasury stock, shares, ending balance (in shares) at Jun. 30, 2024				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee plans, net (in shares)		160,847
Issuance of common stock under employee plans, net	(17,430)		(17,430)
Stock options exercised (in shares)		350,118
Stock options exercised	10,006		10,006
Stock-based compensation	101,780		101,780
Net income	67,025				67,025
Other comprehensive (loss) income, net	$ 5,074					5,074
Ending balance (in shares) at Sep. 30, 2024	76,084,179	76,084,179
Ending balance at Sep. 30, 2024	$ 2,099,836	$ 1	$ 1,588,072	$ (155,947)	$ 676,830	$ (9,120)
Treasury stock, shares, ending balance (in shares) at Sep. 30, 2024	20,220,227			20,220,227

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 241,850	$ 118,722
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation	251,716	96,228
(Gain) loss on strategic investments and marketable securities, net	(192,158)	42,306
Depreciation and amortization	30,745	12,844
Provision for bad debts and inventory	13,824	5,083
Deferred income taxes	(27,061)	(52,955)
Other noncash items	13,183	8,238
Change in assets and liabilities:
Receivables and contract assets	(226,759)	(186,614)
Inventory	(11,629)	(65,096)
Deferred revenue	56,720	103,386
Accounts payable, accrued and other liabilities	10,243	13,367
Other, net	(2,528)	(46,284)
Net cash provided by operating activities	158,146	49,225
Cash flows from investing activities:
Purchases of investments	(615,414)	(444,685)
Business acquisitions, net of cash acquired	(237,796)	(21,090)
Proceeds from call, maturity, and sale of investments	858,326	461,214
Proceeds from call, maturity, and sale of investments	(53,984)	(35,624)
Other, net	34	(512)
Net cash (used in) investing activities	(48,834)	(40,697)
Cash flows from financing activities:
Net proceeds from equity offering	0	94,705
Proceeds from options exercised	9,717	54,503
Income and payroll tax payments for net-settled stock awards	(22,325)	(104,076)
Net cash (used in) provided by financing activities	(12,608)	45,132
Effect of exchange rate changes on cash and cash equivalents	75	(1,201)
Net increase in cash and cash equivalents	96,779	52,459
Cash and cash equivalents and restricted cash, beginning of period	600,670	355,552
Cash and cash equivalents and restricted cash, end of period	$ 697,449	$ 408,011

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental disclosures:
Cash and cash equivalents	$ 695,144	$ 406,042
Restricted cash (Note 1)	2,305	1,969
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	697,449	408,011
Cash paid for income taxes, net of refunds	60,670	47,689
Non-cash transactions
Property and equipment purchases in accounts payable and accrued liabilities	$ 10,214	$ 1,784

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Axon Enterprise, Inc. (“Axon”, the “Company”, “we”, or “us”) is a market-leading provider of public safety technology solutions. Our mission is to protect life in service of promoting peace, justice and strong institutions. The accompanying unaudited condensed consolidated financial statements include the accounts of Axon Enterprise, Inc. and our subsidiaries. All intercompany accounts, transactions and profits have been eliminated. Basis of Presentation and Use of Estimates These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information related to our organization, significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP” or “GAAP”) has been condensed or omitted. The accounting policies followed in the preparation of these unaudited condensed consolidated financial statements are consistent with those followed in our annual consolidated financial statements for the year ended December 31, 2023, as filed on Form 10-K. In the opinion of management, these unaudited condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments, necessary to fairly state our financial position, results of operations and cash flows for the periods presented and the presentations and disclosures herein are adequate when read in conjunction with our Form 10-K for the year ended December 31, 2023. Our results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year (or any other period). Significant estimates and assumptions in these unaudited condensed consolidated financial statements include: • revenue recognition, • stock-based compensation, • business combinations, • product warranty reserves, • inventory valuation and related reserves, • valuation of goodwill, intangible and long-lived assets, • valuation of strategic investments, • recognition, measurement and valuation of current and deferred income taxes, and • recognition and measurement of contingencies and accrued litigation expense. The Company believes that estimates used in the preparation of these unaudited condensed consolidated financial statements are reasonable; however, actual results could differ materially from those estimates. Revision of Previously Issued Financial Statements In preparing the condensed consolidated financial statements as of and for the three and nine months ended September 30, 2024, we identified errors in our previously issued financial statements related to our historical conclusions of principal vs. agent accounting of certain reseller arrangements under ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The identified errors impacted our previously issued 2021 and 2022 annual financial statements, 2023 quarterly and annual financial statements, and 2024 quarterly financial statements through June 30, 2024. We have made adjustments to the prior period amounts presented in these financial statements accordingly. Additionally, we have made adjustments to correct for other previously identified immaterial errors. We assessed the materiality of the errors on prior period consolidated financial statements in accordance with SEC Staff Accounting Bulletin No. 99, "Materiality," codified in ASC Topic 250, Accounting Changes and Error Corrections. Based on this assessment, we concluded that the error correction is not material to any previously presented interim or annual financial statements. A summary of the revisions to the previously reported financial information is included in Note 19. Geographic Information and Major Customers / Suppliers For the three and nine months ended September 30, 2024 and 2023, no individual country outside the United States represented more than 10% of total net sales. Individual sales transactions in the international market are generally larger and occur more intermittently than in the domestic market due to the profile of our customers. For the three and nine months ended September 30, 2024 and 2023, no customer represented more than 10% of total net sales. At September 30, 2024 and December 31, 2023, no customer represented more than 10% of the aggregate balance of accounts and notes receivable and contract assets. We currently purchase both off-the-shelf and custom components, including finished circuit boards, injection-molded plastic components, small machined parts, custom cartridge components, electronic components and sub-assemblies from suppliers located in the United States, Taiwan, Mexico, China, Vietnam and the Republic of Korea. We may source from other countries as well. Although we currently obtain many of these components from single source suppliers, we own substantially all injection molded component tooling, designs and test fixtures used in their production for all custom components. As a result, we believe we could obtain alternative suppliers in most cases. Although we have experienced supply chain disruptions relating to materials and port constraints, we have remained focused on closely managing our supply chain. We continue to bolster our strategic relationships in our supply chain, identifying secondary/alternate sourcing, adjusting build plans accordingly, and building in logistic modes in support of our increasing demand while working to minimize disruption to customers. We acquire most of our components on a purchase order basis and do not currently have significant long-term purchase contracts with most component suppliers. Income per Common Share Basic income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the periods presented. Diluted income per share reflects the potential dilution from outstanding stock options, unvested restricted stock units (“RSUs”), and our 0.50% convertible senior notes due 2027 (the “Notes” or “2027 Notes”). The effects of outstanding stock options, unvested RSUs, our 2027 Notes and warrants to acquire shares of our common stock (the “Warrants” or “2027 Warrants”) are excluded from the computation of diluted net income per share in periods in which the effect would be antidilutive. The calculation of the weighted average number of shares outstanding and earnings per share are as follows (in thousands except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator for basic and diluted earnings per share: Net income $ 67,025 $ 61,309 $ 241,850 $ 118,722 Denominator: Weighted average shares outstanding 75,697 74,826 75,543 73,904 Dilutive effect of stock-based awards 1,317 1,126 1,298 1,308 Dilutive effect of 2027 Notes 1,015 — 773 — Dilutive effect of 2027 Warrants 51 — — — Diluted weighted average shares outstanding 78,080 75,952 77,614 75,212 Net income per common share: Basic $ 0.89 $ 0.82 $ 3.20 $ 1.61 Diluted $ 0.86 $ 0.81 $ 3.12 $ 1.58 Potentially dilutive securities that are not included in the calculation of diluted net income per share because doing so would be antidilutive are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Stock-based awards 4,574 481 4,620 470 2027 Notes 2,002 3,017 2,244 3,017 2027 Warrants 2,966 3,017 3,017 3,017 Total potentially dilutive securities 9,542 6,515 9,881 6,504 For additional information regarding our 2027 Notes and 2027 Warrants, refer to Note 10. Warranty Reserves We warranty our TASER® brand conducted energy devices (“CEDs”) , Axon cameras and certain related accessories from manufacturing defects on a limited basis for a period of one year after purchase and, thereafter, will replace any defective unit for a fee. We estimate and record a liability for standard warranty at the time products are sold. The estimates are based on historical experience and reflect management’s best estimates of costs to be incurred over the warranty period. Adjustments may be required when actual or projected costs differ. Variations in component failure rates, repair costs and the point of failure within the product life cycle are key drivers that impact our periodic re-assessment of the warranty liability. Revenue related to separately priced extended warranties is initially recorded as deferred revenue at its allocated amount and subsequently recognized as net sales on a straight-line basis over the warranty service period. Costs related to extended warranties are charged to cost of product and service sales when the costs become probable and can be reasonably estimated. Changes in our estimated product warranty liabilities were as follows (in thousands): Nine Months Ended September 30, 2024 2023 Balance, beginning of period $ 7,374 $ 811 Utilization of reserve (5,007) (901) Warranty expense 4,860 3,381 Balance, end of period $ 7,227 $ 3,291 Fair Value Measurements and Financial Instruments We use the fair value framework that prioritizes the inputs to valuation techniques for measuring financial assets and liabilities measured on a recurring basis and for non-financial assets and liabilities when these items are re-measured. Fair value is considered to be the exchange price in an orderly transaction between market participants, to sell an asset or transfer a liability at the measurement date. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. We categorize each of our fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are: • Level 1 – Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured. • Level 2 – Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices from markets that are not active for assets or liabilities that are identical or similar to the assets or liabilities being measured. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques. • Level 3 – Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect our own assumptions about inputs that market participants would use in pricing an asset or liability. We have cash equivalents and investments, which at September 30, 2024 comprised money market funds, U.S. government bonds, term deposits, U.S. Treasury bills, and agency bonds . Cash equivalents and investments at December 31, 2023 also included corporate bonds, commercial paper and U.S. Treasury inflation-protected securities. See additional disclosure regarding the fair value of our cash equivalents and investments in Note 3. Debt investments are classified as available-for-sale and realized gains and losses are recorded using the specific identification method. Included in the balance of other long-term assets as of September 30, 2024 and December 31, 2023 was $8.6 million and $7.6 million, respectively, related to corporate-owned life insurance policies, which are used to fund our deferred compensation plan. We determine the fair value of insurance contracts by obtaining the cash surrender value of the contracts from the issuer, a Level 2 valuation technique. We have an investment in marketable securities, for which c hanges in fair value are recorded in the condensed consolidated statement of operations as unrealized gain (or loss) on marketable securities, which is included in other income (loss), net. We have strategic equity investments in various privately held companies as of September 30, 2024 and December 31, 2023 . The estimated fair value of the investments was determined based on Level 3 inputs. In determining the estimated fair value of our strategic equity investments in privately held companies, we utilize observable data available to us as discussed further in Note 7. The fair value of our 2027 Notes is determined based on the closing trading price per $1,000 of the Notes as of the last day of trading for the period. We consider the fair value of the 2027 Notes at September 30, 2024 and December 31, 2023 to be a Level 2 measurement based on the fair value hierarchy. The fair value is primarily affected by the trading price of our common stock and market interest rates. Our financial instruments also include accounts and notes receivable, accounts payable and accrued liabilities. Due to the short-term nature of these instruments, their fair values approximate their carrying values on the condensed consolidated balance sheet. Restricted Cash Restricted cash balanc es of $2.3 million and $2.1 million as of September 30, 2024 and December 31, 2023, respectively, primarily relate to funds held in an international bank account for a country in which we are required to maintain a minimum balance to operate. As of September 30, 2024, approximately $2.2 million was included in prepaid expenses and other current assets on our condensed consolidated balance sheet, with the remainder in other long-term assets. Valuation of Goodwill, Intangibles and Long-lived Assets We evaluate whether events and circumstances have occurred that indicate the remaining estimated useful life of long-lived assets and identifiable intangible assets, excluding goodwill and intangible assets with indefinite useful lives, may warrant revision or that the remaining balance of these assets may not be recoverable. Such events and circumstances could include a change in the product mix, a change in the way products are created, produced or delivered, or a significant change in the way products are branded and marketed. In performing the review for recoverability, we estimate the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. The amount of impairment loss, if impairment exists, is calculated based on the excess of the carrying amounts of the assets over their estimated fair values computed using discounted cash flows. Finite-lived intangible assets and other long-lived assets are amortized over their estimated useful lives. We do not amortize goodwill and intangible assets with indefinite useful lives; rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. We test goodwill and indefinite-lived intangible assets for impairment on an annual basis in the fourth quarter and on an interim basis when certain events and circumstances exist. Business Combinations Acquired businesses are included in the consolidated financial statements from the date we gain control of the business. We recognize, separately from goodwill, the identifiable assets acquired and liabilities assumed at their estimated acquisition-date fair values. Our estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, we may record qualifying adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded in connection with a business combination as of the acquisition date. We continue to collect information and reevaluate these estimates and assumptions quarterly and record any qualifying adjustments to our preliminary estimates to goodwill provided that we are within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our condensed consolidated statement of operations. In the event that we acquire an entity in which we previously held an existing minority ownership interest, the difference between the fair value of the interest as of the acquisition date and the carrying value of the interest is recorded as a gain or loss within other income (loss), net, in the condensed consolidated statement of operations. Preexisting relationships subject to termination as a result of consummating an acquisition may require the recognition of a gain or loss upon settlement, which is recognized within income from operations on the condensed consolidated statement of operations. All third-party transaction-related costs are recognized as expense in the period in which they are incurred. Stock-Based Compensation On May 10, 2024, our shareholders approved the Axon Enterprise, Inc. 2024 eXponential Stock Plan (the “2024 Employee XSP”). The 2024 Employee XSP includes an approved pool of shares of common stock to be reserved for grants of awards of eXponential Stock Units (“XSUs”) to employees. The grants of XSUs (the “2024 XSUs”) are grants of performance-based RSUs that vest in seven substantially equal tranches. The tranches will vest upon certification by the Compensation Committee of the Board of Directors upon achievement of three independent vesting conditions: (1) stock price goals; (2) operational goals; and (3) minimum service conditions. Additionally, shareholders approved the grant of the 2024 XSUs to our CEO, Patrick W. Smith (the “2024 CEO Performance Award”). The stock price goals and operational goals under the 2024 CEO Performance Award are identical to those under the 2024 Employee XSP, but Mr. Smith is subject to a longer minimum required service period. Refer to Note 12 for further discussion regarding ongoing progress towards reaching the aforementioned goals. Recently Issued Accounting Guidance and Disclosure Rules Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires annual and interim disclosures that are expected to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The new standard is effective for our Annual Report on Form 10-K for the year ending December 31, 2024, and subsequent interim periods, with early adoption permitted. We are currently evaluating the impact of this update on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax. The provisions of ASU 2023-09 are effective for our Annual Report on Form 10-K for the year ending December 31, 2025, with early adoption permitted. We are currently evaluating the impact of this update on our consolidated financial statements. In March 2024, the SEC adopted final rules under SEC Release No. 34-99678 and No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors (the “Final Rules”), which will require registrants to provide certain climate-related information in their registration statements and annual reports. The Final Rules require, among other things, disclosure in the notes to the audited financial statements of the effects of severe weather events and other natural conditions, subject to certain thresholds, as well as amounts related to carbon offsets and renewable energy credits or certificates in certain circumstances. The financial statement disclosure requirements of the Final Rules will begin phasing in for the Company for fiscal year 2025. In April 2024, the SEC stayed the effectiveness of the Final Rules pending judicial review. We are currently evaluating the impact of the Final Rules on our consolidated financial statements. Reclassification of Prior Year Presentation Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications are not material and had no effect on the reported results of operations.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Nature of Products and Services The following tables present our revenues by primary product and service offering and reportable segment (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 TASER Software and Total TASER Software and Total TASER Devices (Professional) $ 130,515 $ — $ 130,515 $ 86,718 $ — $ 86,718 Cartridges 60,179 — 60,179 54,279 — 54,279 Axon Evidence and Cloud Services 13,861 203,481 217,342 8,975 151,518 160,493 Extended Warranties 9,729 17,306 27,035 8,078 14,046 22,124 Axon Body Cameras and Accessories — 70,363 70,363 — 52,488 52,488 Axon Fleet Systems — 23,239 23,239 — 27,336 27,336 Other (1) (2) 7,450 8,151 15,601 4,520 5,320 9,840 Total $ 221,734 $ 322,540 $ 544,274 $ 162,570 $ 250,708 $ 413,278 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 TASER Software and Total TASER Software and Total TASER Devices (Professional) $ 333,815 $ — $ 333,815 $ 239,165 $ — $ 239,165 Cartridges 181,792 — 181,792 149,504 — 149,504 Axon Evidence and Cloud Services 40,297 570,222 610,519 25,575 401,281 426,856 Extended Warranties 27,164 48,651 75,815 23,463 40,194 63,657 Axon Body Cameras and Accessories — 180,592 180,592 — 124,066 124,066 Axon Fleet Systems — 79,620 79,620 — 99,015 99,015 Other (1) (2) 14,373 30,855 45,228 14,460 13,600 28,060 Total $ 597,441 $ 909,940 $ 1,507,381 $ 452,167 $ 678,156 $ 1,130,323 (1) TASER segment “Other” includes smaller categories, such as Virtual Reality (“VR”) hardware, weapons training revenue such as revenue associated with our Master Instructor School, and TASER consumer device sales. (2) Software and Sensors segment “Other” includes revenue from items including Signal Sidearm, Interview Room, Axon Air and other sensors and equipment. The following table presents our revenues disaggregated by geography (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 482,596 89 % $ 341,767 83 % $ 1,298,775 86 % $ 954,023 84 % Other countries 61,678 11 71,511 17 208,606 14 176,300 16 Total $ 544,274 100 % $ 413,278 100 % $ 1,507,381 100 % $ 1,130,323 100 % Contract Balances The following table presents our contract assets, contract liabilities and certain information related to these balances as of and for the nine months ended September 30, 2024 (in thousands): September 30, 2024 Contract assets, net $ 492,896 Contract liabilities (deferred revenue) 810,422 Revenue recognized in the period from: Amounts included in contract liabilities at the beginning of the period 432,411 Contract liabilities (deferred revenue) consisted of the following (in thousands): September 30, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total Extended Warranty: TASER $ 15,783 $ 18,162 $ 33,945 $ 14,666 $ 18,828 $ 33,494 Software and Sensors 20,300 8,749 29,049 22,642 8,165 30,807 36,083 26,911 62,994 37,308 26,993 64,301 Hardware: TASER 43,322 32,737 76,059 35,845 29,689 65,534 Software and Sensors 65,067 136,105 201,172 63,299 117,024 180,323 108,389 168,842 277,231 99,144 146,713 245,857 Services: TASER 8,510 5,141 13,651 7,832 3,983 11,815 Software and Sensors 352,026 104,520 456,546 326,131 93,212 419,343 360,536 109,661 470,197 333,963 97,195 431,158 Total $ 505,008 $ 305,414 $ 810,422 $ 470,415 $ 270,901 $ 741,316 September 30, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total TASER $ 67,615 $ 56,040 $ 123,655 $ 58,343 $ 52,500 $ 110,843 Software and Sensors 437,393 249,374 686,767 412,072 218,401 630,473 Total $ 505,008 $ 305,414 $ 810,422 $ 470,415 $ 270,901 $ 741,316 Remaining Performance Obligations As of September 30, 2024, we had approximately $7.7 billion of remaining performance obligations, which included both recognized contract liabilities as well as amounts that will be invoiced and recognized in future periods. The remaining performance obligations are limited only to arrangements that meet the definition of a contract under ASC 606 as of September 30, 2024. We currently expect to recognize between 15% - 25% of this balance over the next 12 months, and generally expect the remainder to be recognized over the following ten years, subject to risks related to delayed deployments, budget appropriation or other contract cancellation clauses.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments The following tables summarize our cash, cash equivalents, marketable securities and available-for-sale investments at September 30, 2024 and December 31, 2023 (in thousands): As of September 30, 2024 Amortized Gross Gross Fair Value Cash and Marketable Short-Term Cash $ 85,256 $ — $ — $ 85,256 $ 85,256 $ — $ — Level 1: Money market funds 438,408 — — 438,408 438,408 — — U.S. government 140,758 23 (5) 140,776 — — 140,776 Marketable securities 90,000 61,560 — 151,560 — 151,560 — Treasury bills 117,880 19 (2) 117,897 48,513 — 69,384 Agency bonds 104,780 — (13) 104,767 104,767 — — Subtotal 891,826 61,602 (20) 953,408 591,688 151,560 210,160 Level 2: Term deposits 119,610 — — 119,610 18,200 — 101,410 Subtotal 119,610 — — 119,610 18,200 — 101,410 Total $ 1,096,692 $ 61,602 $ (20) $ 1,158,274 $ 695,144 $ 151,560 $ 311,570 As of September 30, 2024 , we had $159.7 million of available-for-sale investments with unrealized losses, of which none have been in a continuous unrealized loss position for 12 months or longer. We do not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases. Acquired common stock is recorded as marketable securities in the condensed consolidated balance sheets and its fair value is adjusted every reporting period. Changes in fair value are recorded in the condensed consolidated statement of operations as unrealized gain (or loss) on marketable securities, which is included in other income (loss), net. During the three and nine months ended September 30, 2024 , we recorded an unrealized gain on marketable securities of $44.0 million and $73.6 million, respectively. We recorded an unrealized gain on marketable securities of $4.1 million and $29.6 million, respectively, for the same periods in the prior year. As of December 31, 2023 Amortized Gross Gross Fair Value Cash and Marketable Short-Term Cash $ 406,743 $ — $ — $ 406,743 $ 406,743 $ — $ — Level 1: Money market funds 1,470 — — 1,470 1,470 — — Agency bonds 222,057 2 (174) 221,885 101,635 — 120,250 U.S. government 238,747 120 (237) 238,630 — — 238,630 Treasury bills 148,063 28 — 148,091 88,697 — 59,394 Marketable securities 90,000 — (12,060) 77,940 — 77,940 — Subtotal 700,337 150 (12,471) 688,016 191,802 77,940 418,274 Level 2: Term deposits 128,205 — — 128,205 — — 128,205 Corporate bonds 80,646 8 (165) 80,489 — — 80,489 Treasury inflation-protected securities 2,635 — (5) 2,630 — — 2,630 Commercial paper 14,456 — — 14,456 — — 14,456 Subtotal 225,942 8 (170) 225,780 — — 225,780 Total $ 1,333,022 $ 158 $ (12,641) $ 1,320,539 $ 598,545 $ 77,940 $ 644,054 As of December 31, 2023, we had $420.4 million of available-for-sale investments with unrealized losses. Of this amount, $138.8 million had been in a continuous unrealized loss position for 12 months or longer, with total gross unrealized losses of $0.3 million. We do not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases.

Expected Credit Losses

Expected Credit Losses	9 Months Ended
	Sep. 30, 2024
Credit Loss [Abstract]
Expected Credit Losses	Expected Credit Losses We are exposed to credit losses primarily through sales of products and services. Our expected loss allowance methodology for accounts receivable, contract assets, notes receivable and off-balance sheet exposures is developed using historical collection experience, published or estimated credit default rates for entities that represent our customer base, current and future economic and market conditions, and a review of the current status of customers’ trade accounts receivables. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. Our monitoring activities include account reconciliation, dispute resolution, payment confirmation, consideration of customers’ financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible. We review receivables for U.S. and international customers separately to better reflect different published credit default rates and economic and market conditions. The following table provides a roll-forward of the allowance for expected credit losses for finance receivables and off-balance sheet exposures. The expected credit losses for receivables are deducted from the amortized cost basis of accounts receivable, contract assets and notes receivable to present the net amount expected to be collected (in thousands): Nine Months Ended September 30, 2024 United States Other countries Total Balance, beginning of period $ 3,369 $ 597 $ 3,966 Provision for expected credit losses 2,606 216 2,822 Amounts written off charged against the allowance (700) (84) (784) Other, including foreign currency translation — 14 14 Balance, end of period $ 5,275 $ 743 $ 6,018 As of September 30, 2024 and December 31, 2023 , the allowance for expected credit losses for each type of customer receivable and off-balance sheet exposures were as follows (in thousands): September 30, 2024 December 31, 2023 Accounts receivable and notes receivable, current $ 3,292 $ 2,392 Contract assets, net 2,678 1,516 Long-term notes receivable, net of current portion 48 44 Other current liabilities — 14 Total allowance for expected credit losses on customer receivables $ 6,018 $ 3,966

Inventory

Inventory	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory Inventories are stated at the lower of cost or realizable values. Cost of inventories is determined on the first-in, first-out basis. Additional provisions are made to reduce excess, obsolete or slow-moving inventories to their net realizable value. These provisions are based on management’s best estimate after considering historical demand, projected future demand, inventory purchase commitments, industry and market trends and conditions among other factors. We evaluate inventory costs for abnormal costs due to excess production capacity and treat such costs as period costs. Inventory consisted of the following at September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Raw materials $ 100,526 $ 104,112 Finished goods 171,769 165,743 Total inventory $ 272,295 $ 269,855

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows (in thousands): TASER Software and Total Balance, beginning of period $ 2,984 $ 54,961 $ 57,945 Goodwill acquired — 250,653 250,653 Purchase accounting adjustments — (364) (364) Foreign currency translation adjustments (14) 252 238 Balance, end of period $ 2,970 $ 305,502 $ 308,472 Intangible assets (other than goodwill) consisted of the following at September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Useful Gross Accumulated Net Gross Accumulated Net Amortizable (definite-lived) intangible assets: Developed technology 3 ‑ 8 years $ 82,531 $ (21,478) $ 61,053 $ 29,402 $ (16,562) $ 12,840 Customer relationships 4 ‑ 10 years 18,649 (3,730) 14,919 5,530 (3,620) 1,910 Trademarks 3 ‑ 15 years 3,214 (1,312) 1,902 1,333 (817) 516 Issued patents 5 ‑ 25 years 3,019 (1,553) 1,466 3,222 (1,707) 1,515 Domain names 3 ‑ 10 years 3,043 (2,357) 686 3,043 (2,128) 915 Non-compete agreements 3 ‑ 4 years — — — 448 (448) — Total amortizable intangible assets 110,456 (30,430) 80,026 42,978 (25,282) 17,696 Non-amortizable (indefinite-lived) intangible assets: Trademarks 1,068 — 1,068 1,068 — 1,068 Patents and trademarks pending 654 — 654 775 — 775 Total non-amortizable intangible assets 1,722 — 1,722 1,843 — 1,843 Total intangible assets $ 112,178 $ (30,430) $ 81,748 $ 44,821 $ (25,282) $ 19,539 Amortization expense of intangible assets for the three and nine months ended September 30, 2024 was $3.8 million and $10.7 million , respectively. Amortization expense of intangible assets for the three and nine months ended September 30, 2023 was $1.3 million and $3.2 million, respectively. Estimated amortization for intangible assets with definite lives for the remaining three months of 2024 , the next five years ended December 31, and thereafter, is as follows (in thousands): 2024 remaining $ 3,840 2025 12,536 2026 12,341 2027 11,400 2028 11,289 2029 11,105 Thereafter 17,515 Total $ 80,026

Strategic Investments

Strategic Investments	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Strategic Investments	Strategic Investments Strategic investments include equity and debt investments in a number of non-public technology driven companies. We account for strategic equity investments under the ASC 321 measurement alternative for equity securities without readily determinable fair values, as there are no quoted market prices for the investments. The investments are measured at cost less impairment, adjusted for observable price changes and are assessed for impairment whenever events or changes in circumstances indicate that the fair value may be less than its carrying value. For the debt security strategic investment, we have elected to account for this investment and the associated embedded derivatives utilizing the fair value option. Unrealized changes in fair value for the entire hybrid instrument are recorded within other income (loss), net in the condensed consolidated statement of operations. The debt security is recorded as a strategic investment within the long-term assets section of the condensed consolidated balance sheet. In conjunction with certain of our strategic investments, we have the ability to commit additional capital over time through warrants and call options; for some investments, the exercisability and exercise prices are conditional on the achievement of certain performance metrics. The following tables provide a roll-forward of the balance of strategic investments (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Equity investments Warrants Call options Debt investments Total Equity investments Warrants Call options Total Balance, beginning of period $ 340,108 $ 2,356 $ 13,033 $ 7,637 $ 363,134 $ 215,945 $ 459 $ 17,233 $ 233,637 Investments 24,322 — — — 24,322 4,099 1,176 — 5,275 Fair value adjustments: Unrealized gains — — — 449 449 — — — — Unrealized losses and impairments — — — — — — (113) — (113) Exercises — — — — — 1,500 — — 1,500 Balance, end of period $ 364,430 $ 2,356 $ 13,033 $ 8,086 $ 387,905 $ 221,544 $ 1,522 $ 17,233 $ 240,299 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Equity investments Warrants Call options Debt investments Total Equity investments Warrants Call options Total Balance, beginning of period $ 212,996 $ 1,501 $ 17,233 $ — $ 231,730 $ 277,676 $ 1,654 $ 17,233 $ 296,563 Investments 93,450 — — 7,500 100,950 15,016 1,176 — 16,192 Fair value adjustments: Realized gains 45,162 — 21 — 45,183 — — — — Realized losses — — (2,870) — (2,870) — — — — Unrealized gains 74,784 855 — 586 76,225 — — — — Unrealized losses and impairments — — — — — (72,648) (1,308) — (73,956) Exercises (61,962) — (1,351) — (63,313) 1,500 — — 1,500 Balance, end of period $ 364,430 $ 2,356 $ 13,033 $ 8,086 $ 387,905 $ 221,544 $ 1,522 $ 17,233 $ 240,299 In January 2024, we acquired the remaining outstanding stock of a strategic investment. Our existing interest had a fair value at acquisition date of $63.3 million, which resulted in a net non-taxable gain of $42.3 million related to the existing strategic equity investment and call option. For additional information on the business combination, refer to Note 17. Additionally, as a result of an observable price change for a separate strategic investee, we recognized an unrealized gain of $75.6 million for the strategic investment and related warrants in other income (loss), net on our condensed consolidated statement of operations during the nine months ended September 30, 2024. For the debt security strategic investment, we recognized an unrealized gain of $0.6 million for the entire hybrid instrument in other income (loss), net on our condensed consolidated statement of operations during the nine months ended September 30, 2024. Inception to date Equity investments Warrants Call options Debt investments Total Investments $ 217,948 $ 4,222 $ 17,233 $ 7,500 $ 246,903 Fair value adjustments: Realized gains 57,474 — 21 — 57,495 Realized losses — — (2,870) — (2,870) Unrealized gains 149,601 29,928 — 586 180,115 Unrealized losses and impairments (82,304) (1,705) — — (84,009) Exercises 36,257 (30,089) (1,351) — 4,817 Sales (14,546) — — — (14,546) Balance, end of period $ 364,430 $ 2,356 $ 13,033 $ 8,086 $ 387,905

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities We evaluate our investments and other significant relationships to determine whether any investee is a variable interest entity (“VIE”). If we conclude that an investee is a VIE, we evaluate our power to direct the activities of the investee, our obligation to absorb the expected losses of the investee and our right to receive the expected residual returns of the investee to determine whether we are the primary beneficiary of the investee. If we are the primary beneficiary of a VIE, we will consolidate such entity and reflect the non-controlling interest of other beneficiaries of that entity. We determine whether we are the primary beneficiary of a VIE by performing an analysis that principally considers: • The VIE’s purpose, design, and risks the VIE was designed to create and pass through to its variable interest holders; • The VIE’s capital structure; • The terms between the VIE and its variable interest holders and other parties involved with the VIE; and • Related party affiliations. As of September 30, 2024 and December 31, 2023, the unconsolidated non-public VIEs in which we hold variable interests were as follows (in thousands): September 30, 2024 December 31, 2023 Carrying value of variable interest - assets (1) $ 28,073 $ 4,986 (1) Balance reflects the maximum exposure to loss, which is limited to the carrying value of the interest. The primary purpose of our U.S-based, unconsolidated VIE investments is to create strategic partnerships with market-leading providers of law enforcement technology solutions. We present all variable interests in unconsolidated VIEs as strategic investments within the long-term assets section of the condensed consolidated balance sheet.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following at September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Accrued salaries, commissions, benefits and bonus $ 103,566 $ 125,636 Accrued income and other taxes 27,911 5,784 Accrued inventory in transit 11,428 12,197 Accrued professional, consulting and lobbying fees 10,870 7,377 Accrued warranty expense 7,227 7,374 Other accrued expenses 48,689 35,182 Accrued liabilities $ 209,691 $ 193,550

Convertible Senior Notes

Convertible Senior Notes	9 Months Ended
	Sep. 30, 2024
Convertible Notes Payable [Abstract]
Convertible Senior Notes	Convertible Senior Notes 2027 Notes In December 2022, we issued $690.0 million aggregate principal amount of our 2027 Notes in a private offering, which aggregate principal amount included the exercise in full of the initial purchasers’ option to purchase up to an additional $90.0 million principal amount of the Notes. The Notes mature on December 15, 2027 and bear interest at a fixed rate of 0.50% per annum, payable semiannually in arrears on June 15 and December 15 of each year, beginning on June 15, 2023. The effective interest rate for the Notes was 0.99% and included interest payable and amortization of debt issuance cost. On or after December 22, 2025, we may redeem for cash all or any portion of the notes in accordance with the optional redemption terms of the convertible debt agreement. If we undergo a fundamental change (as defined in the indenture governing the Notes), holders may require us to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, up to but excluding the fundamental change repurchase date. In addition, following certain corporate events or if we issue a notice of redemption, it will increase the conversion rate for holders who elect to convert their Notes in connection with such corporate event or during the relevant redemption period. The following table summarizes the carrying value of the Notes (in thousands): September 30, 2024 December 31, 2023 Principal $ 690,000 $ 690,000 Unamortized debt issuance costs (10,517) (12,887) Convertible notes carrying amount, net $ 679,483 $ 677,113 We consider the fair value of the Notes to be a Level 2 measurement. The estimated fair value of the Notes at September 30, 2024 and December 31, 2023 is based on the closing trading price per $1,000 of the Notes as of the last day of trading for each period as follows (in millions): September 30, 2024 December 31, 2023 2027 Notes $ 1,239.8 $ 873.3 Interest expense related to the Notes was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Contractual interest expense $ 862 $ 863 $ 2,588 $ 2,588 Amortization of debt issuance costs 803 797 2,368 2,328 Total interest expense $ 1,665 $ 1,660 $ 4,956 $ 4,916 Note Hedge To reduce the impact of potential economic dilution upon conversion of the Notes, we entered into a convertible note hedge transaction (the “Note Hedge” or “2027 Note Hedge”) with certain investment banks, with respect to our common stock, concurrently with the issuance of the 2027 Notes. Purchase Price Shares Purchased 2027 Note Hedge $ 194,994 3,016,680 The Note Hedge covers shares of our common stock at a strike price per share that corresponds to the initial conversion price of the respective Notes, subject to adjustment, and is exercisable upon conversion of the Notes. If exercised, we may elect to receive cash, shares of our common stock, or a combination of cash and shares. We have accounted for the aggregate amount of purchase price for the Note Hedge as a reduction to additional paid-in capital. The Note Hedge will expire upon the maturity of the Notes. The Note Hedge is intended to reduce the potential economic dilution upon conversion of the Notes in the event that the market value per share of our common stock at the time of exercise is greater than the conversion price of the Notes. The Note Hedge is a separate transaction and is not part of the terms of the Notes. Holders of the Notes do not have any rights with respect to the Note Hedge. The Note Hedge does not impact earnings per share, as it was entered into to offset any dilution from the Notes. As of September 30, 2024 , 3,016,680 shares remain subject to the Note Hedge. Note Warrants Proceeds Shares Strike Price First Expiration 2027 Warrants $ 124,269 3,016,680 $ 338.86 March 15, 2028 Separately, we entered into Warrant transactions with certain investment banks, whereby we sold Warrants to acquire, subject to adjustment, the number of shares of our common stock shown in the table above. If the average market value per share of our common stock on each expiration date exceeds the strike price of the Warrants expiring on that day, such Warrants would have a dilutive effect on our earnings per share to the extent we report net income. According to the terms of the Warrants, the Warrants will be automatically exercised over a 60-trading day period beginning on the first expiration date as set forth above.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We file income tax returns for federal purposes and in most states, as well as in multiple foreign jurisdictions. Our tax filings remain subject to examination by applicable tax authorities for a certain length of time, generally three to four years, but can be up to ten years in some jurisdictions following the tax year to which these filings relate. Deferred Tax Assets Net deferred income tax assets at September 30, 2024, primarily include R&D capitalization net of amortization, deferred revenue, convertible debt net of amortization, accruals and reserves, and stock-based compensation expense, partially offset by accelerated depreciation expense, amortization of intangibles, unrealized gains on certain investments, and valuation allowance reserves. Our total net deferred tax assets at September 30, 2024 were $244.3 million. In preparing our condensed consolidated financial statements, management assesses the likelihood that its deferred tax assets will be realized from future taxable income. In evaluating our ability to recover our deferred income tax assets, management considers all available positive and negative evidence, including our operating results, ongoing tax planning and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. A valuation allowance is established if it is determined that it is more likely than not that some portion or all of the net deferred tax assets will not be realized. Management exercises significant judgment in determining our provisions for income taxes, our deferred tax assets and liabilities, and our future taxable income for purposes of assessing our ability to utilize any future tax benefit from our deferred tax assets. As of September 30, 2024, management continues to believe the positive evidence from projected future earnings outweighs the negative evidence and a valuation allowance is only needed on specific deferred tax assets. We have concluded that a valuation allowance is necessary against unrealized investment losses as well as transaction costs incurred in connection with certain investments. Additionally, we have Arizona R&D tax credits expiring unutilized each year; therefore, management has concluded that it is more likely than not that our Arizona R&D deferred tax asset will not be realized, and a valuation allowance has been recorded against this net asset. In Australia, we have determined that sufficient deferred tax liabilities will reverse in order to realize all assets except one long-lived intangible where there is not an expectation that the asset may be realized. Therefore, we continue to recognize a partial valuation allowance for Australia. We complete R&D tax credit studies for each year that an R&D tax credit is claimed for federal and state income tax purposes. Management has made the determination that it is more likely than not that the full benefit of the R&D tax credit will not be sustained on examination and recorded a liability for unrecognized tax benefits of $27.4 million as of September 30, 2024. Should the unrecognized benefit of $27.4 million be recognized, our effective tax rate would be favorably impacted. Approximately $6.8 million of the unrecognized tax benefit, net of federal benefit, associated with R&D credits has been netted against the R&D deferred tax asset. Effective Tax Rate Our overall effective tax rate for the nine months ended September 30, 2024, after discrete period adjustments, was 18.6%. Before discrete adjustments, the estimated annual effective tax rate was 23.3%, which differs from the federal statutory rate due to the impact of state taxes net of federal benefit and executive compensation limitation under IRC Section 162(m) on projected pre-tax income for the year, partially offset by R&D tax credits and a net gain related to an investment transaction not recognized for tax. The effective tax rate was favorably impacted by a net $13.0 million dis crete tax benefit associated with net windfalls related to stock-based compensation for RSUs and PSUs that vested, in addition to non-qualified stock options that were exercised during the nine months ended September 30, 2024.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders' Equity	Stockholders’ Equity 2024 Employee XSP and 2024 CEO Performance Award On May 10, 2024, our shareholders approved the 2024 Employee XSP. The 2024 Employee XSP includes an approved pool of 4.5 million shares of common stock to be reserved for grants of XSU awards to employees under the 2024 Employee XSP. A total of approximately 3.8 million 2024 XSUs were granted in the nine months ended September 30, 2024. The 2024 XSUs are grants of performance-based RSUs that vest in seven substantially equal tranches. The tranches will vest upon certification by the Compensation Committee of the Board of Directors upon achievement of three independent vesting conditions, described in the following table: Operational Goals (1) (in millions) Stock Price Minimum Service Requirement Tranche Revenue Adj. EBITDA Employee XSP CEO Award Goal Expiration 1 $ 1,834 or $ 393 and $ 247.40 and June 2025 December 2028 December 31, 2026 2 2,293 or 508 and 309.25 and December 2025 December 2028 December 31, 2027 3 2,866 or 655 and 386.56 and June 2026 December 2029 December 31, 2028 4 3,583 or 845 and 483.20 and December 2026 December 2029 December 31, 2029 5 4,479 or 1,088 and 604.00 and June 2027 December 2030 December 31, 2030 6 5,599 or 1,400 and 755.00 and December 2027 December 2030 December 31, 2031 7 6,999 or 1,750 and 943.75 and June 2028 December 2030 December 31, 2032 (1) Operational goals are measured, as of any date, for the previous four consecutive fiscal quarters, beginning with the Company's first full fiscal quarter ending after the fiscal quarter in which the grant date occurred Additionally, shareholders approved the 2024 CEO Performance Award to grant 679,102 shares of the 2024 XSUs to our CEO, Patrick W. Smith. The stock price goals and operational goals under the 2024 CEO Performance Award are identical to those under the 2024 Employee XSP, but Mr. Smith is subject to a longer minimum required service period. Stock-based compensation expense associated with the 2024 XSU awards is recognized over the requisite service period, which is considered the longest explicit, implicit or derived service period for each respective tranche. W e utilized Monte Carlo simulations to evaluate a range of possible future stock price goals over the term of the awards at each of the respective grant dates. The median of all iterations of the simulation was used as the basis for the derived service period for each tranche. We measured the grant date fair value of each tranche using a Monte Carlo simulation with the following assumptions: risk-free interest rate of 4.3% - 4.5%, expected volatility of 41.4% – 41.5%, expected term of 8.6 years, and dividend yield of 0.0%. We utilized a blended volatility assumption, equally weighting both historical volatility and implied volatility, resulting in a weighted-average expected volatility of 41.4%. An illiquidity discount is considered in our estimate of the fair value of shares during post-vesting holding periods. The mandatory post-vesting holding periods for 2024 XSU awards will lapse on the earlier of (i) December 31, 2030, or (ii) the date that a subsequent tranche vests and settles. Therefore, the illiquidity discount is dependent upon projected tranche vesting dates, determined via the Monte Carlo simulation. This simulation is based on a subjective assessment of our forward-looking financial projections, taking into consideration statistical analysis. Even though no tranche with respect to either the 2024 Employee XSP or the 2024 CEO Performance Award vests unless the stock price goal, operational goal and corresponding minimum service condition are achieved, stock-based compensation expense is recognized when an operational goal is considered probable of attainment regardless of the achievement of the stock price and minimum service conditions. As of September 30, 2024, we consider some of the tranches probable and will recognize the expense ratably over their respective expected vesting periods. This may result in volatility and higher upfront expense recognition and is subject to change based on periodic probability assessments. Restricted Stock Units The following table summarizes RSU activity for the nine months ended September 30, 2024 (number of units and aggregate intrinsic value in thousands): Number of Weighted Average Aggregate Units outstanding, beginning of year 1,615 $ 193.09 Granted 595 269.18 Released (488) 185.33 Forfeited (128) 202.01 Units outstanding, end of period 1,594 $ 223.16 $ 636,869 Aggregate intrinsic value represents our closing stock price on the last trading day of the period, which was $399.60 per share, multiplied by the number of RSUs outstanding. As of September 30, 2024, there was $252.7 million in unrecognized compensation costs related to RSUs under our stock plans for awards that are expected to vest. We expect to recognize the cost related to the RSUs over a weighted average period of 2.2 years. RSUs are settled when vesting requirements are met. On January 2, 2024, we granted an aggregate of 0.4 million RSUs to employees whose compensation was under a specified threshold. The RSUs generally vest in five annual installments from March 2024 through March 2028. For the nine months ended September 30, 2024 , there was $38.3 million of stock compensation expense related to these RSUs that was primarily recorded within cost of product and service sales. Performance Stock Units The following table summarizes PSU activity for the nine months ended September 30, 2024 (number of units and aggregate intrinsic value in thousands): Number of Weighted Average Aggregate Units outstanding, beginning of year 394 $ 201.61 Granted 4,517 240.07 Released (11) 149.49 Forfeited (345) 232.01 Units outstanding, end of period 4,555 $ 237.57 $ 1,820,338 Aggregate intrinsic value represents our closing stock price on the last trading day of the period, which was $399.60 per share, multiplied by the number of PSUs outstanding. As of September 30, 2024, there was $585.0 million in unrecognized compensation expense related to PSUs under our stock plans for awards that are expected to vest. Of the balance, there was $579.5 million of total unrecognized stock-based compensation expense related to XSP for performance goals that were considered probable of achievement, which will be recognized over a weighted-average period of 3.7 years. Stock Option Activity The following table summarizes stock option activity for the nine months ended September 30, 2024 (number of options and aggregate intrinsic value in thousands): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Aggregate Options outstanding, beginning of year 531 $ 28.58 Granted — — Exercised (350) 28.58 Expired / terminated — — Options outstanding and exercisable, end of period 181 $ 28.58 3.41 $ 67,085 Aggregate intrinsic value represents the difference between the exercise price of the underlying stock options and the closing stock price on the last trading day of the period ended September 30, 2024, which was $399.60 per share. Of the total stock options exercised during the nine months ended September 30, 2024, 0.2 million shares were immediately sold to cover the exercise price and the option holder’s tax obligation for the applicable income and other employment taxes. Stock-based Compensation Expense The following table summarizes the composition of stock-based compensation expense for the three and nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of product sales and service sales $ 10,123 $ 1,687 $ 48,235 $ 4,685 Sales, general and administrative expenses 55,248 12,886 117,036 43,232 Research and development expenses 36,409 15,414 86,445 48,311 Total stock-based compensation expense $ 101,780 $ 29,987 $ 251,716 $ 96,228 Stock Incentive Plan In May 2024, our shareholders approved the Axon Enterprise, Inc. Amended and Restated 2022 Stock Incentive Plan (the “Amended 2022 Plan”) authorizing an additional 2.2 million shares, plus remaining available shares under prior plans, for issuance under the Amended 2022 Plan. Combined with the shares of our common stock available under our legacy stock incentive plans, there are 3.7 million shares of our common stock available for grant under the Amended 2022 Plan as of September 30, 2024. At-The-Market Equity Offering We participate in an “at-the-market” equity offering program (the “ATM”), pursuant to which we are authorized to sell up to a total of approximately 2.0 million shares of our common stock. As of September 30, 2024 , there were approximate ly 2.0 million shares remaining. There were no issuances under the ATM during the nine months ended September 30, 2024 .

Line of Credit

Line of Credit	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Line of Credit	Line of Credit In December 2022, we entered into a credit agreement that provides for a senior unsecured multi-currency revolving credit facility (the “Credit Agreement”) in an aggregate principal amount of up to $200.0 million, $30.0 million of which is available for the issuance of letters of credit. The Credit Agreement will mature on the earlier of December 15, 2027 or the date that is six months prior to the stated maturity date of the 2027 Notes unless the Notes have been redeemed, repurchased, converted or defeased in full. Additionally, the Credit Agreement has an accordion feature which allows for an increase in the total line of credit up to $300.0 million, in each lender’s sole discretion. As of September 30, 2024, no amounts were drawn under the Credit Agreement and outstanding letters of credit totaled $8.2 million. Advances under the line of credit bear interest at Term SOFR We are required to comply with a net leverage ratio, defined as consolidated total indebtedness to EBITDA, and a consolidated interest coverage ratio, defined as EBITDA to consolidated interest expense. As of September 30, 2024, we are in compliance with the associated covenants under the Credit Agreement.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Litigation As a manufacturer of weapons and other law enforcement tools used in high-risk field environments, we are often the subject of products liability litigation concerning the use of our products. We are currently named as a defendant in one such lawsuit in which the plaintiffs allege either wrongful death or personal injury in situations in which a TASER CED was used by law enforcement officers in connection with arrests or training. While the facts vary from case to case, these product liability claims typically allege defective product design, manufacturing, and/or failure to warn. They seek compensatory and sometimes punitive damages, often in unspecified amounts. We continue to aggressively defend all product litigation. As a general rule, it is our policy not to settle suspect injury or death cases. Exceptions are sometimes made where the settlement is strategically beneficial to us. Due to the confidential nature of our litigation strategy and the confidentiality agreements that are executed in the event of a settlement, we do not identify or comment on specific settlements by case or amount. Based on current information, we do not believe that the outcome of any such legal proceeding will have a material effect on our financial position, results of operations or cash flows. We are self-insured for the first $5.0 million of any product claim made after 2014. No judgment or settlement has ever exceeded this amount in any products liability case. We continue to maintain product liability insurance coverage, including an insurance policy fronting arrangement, above our self-insured retention with various limits depending on the policy period. Other Matters Despite the FTC’s dismissal of its administrative enforcement complaint against Axon without consent decree or other condition in October 2023, other parties continue to allege that Axon’s May 2018 acquisition of an insolvent body-worn camera competitor, Vievu LLC (“Vievu”), was anticompetitive. Two purported antitrust lawsuits based largely on the FTC’s unproven allegations are pending in the District of New Jersey (Case No. 3:23-cv-7182) and District of Arizona (Case No. 2:24-cv-01869-SMB). Axon denies all allegations of anticompetitive or other misconduct and is vigorously defending the cases. Axon has also received a request for information from the Pennsylvania Office of Attorney General regarding this same consummated Vievu transaction. Axon is cooperating with the investigation to resolve any concerns of the Commonwealth. General From time to time, we are notified that we may be a party to a lawsuit or that a claim is being made against us. After carefully assessing the claim, and assuming we determine that we are not at fault or we disagree with the damages or relief demanded, we vigorously defend any lawsuit filed against us. We record a liability when losses are deemed probable and reasonably estimable. When losses are deemed reasonably possible but not probable, we determine whether it is possible to provide an estimate of the amount of the loss or range of possible losses for the claim, if material for disclosure. In evaluating matters for accrual and disclosure purposes, we take into consideration factors such as our historical experience with matters of a similar nature, the specific facts and circumstances asserted, the likelihood of our prevailing, the availability of insurance, and the severity of any potential loss. We reevaluate and update accruals as matters progress over time. Based on our assessment of outstanding litigation and claims as of the date of these financial statements, we have determined that it is not reasonably possible that these losses, if any, from lawsuits will individually, or in the aggregate, materially affect our results of operations, financial condition or cash flows. However, the outcome of any litigation is inherently uncertain and there can be no assurance that any expense, liability or damages that may ultimately result from the resolution of these matters will be covered by our insurance or will not be in excess of amounts recognized or provided by insurance coverage and will not have a material adverse effect on our operating results, financial condition or cash flows. Off-Balance Sheet Arrangements Under certain circumstances, we use letters of credit and surety bonds to guarantee our performance under various contracts, principally in connection with the installation and integration of Axon cameras and related technologies. Certain of our letters of credit and surety bonds have stated expiration dates with others being released as the contractual performance terms are completed. At September 30, 2024, we had outstanding letters of credit issued under our credit facility of $8.2 million that are expected to expire through 2025 . We also had outstanding letters of credit of $0.1 million that do not draw against our credit facility. Additionally, we had $13.6 million of outstanding surety bonds as of September 30, 2024, with expiration dates ranging through 2029.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following tables reflect the changes in accumulated other comprehensive income (loss), net of tax (in thousands): Unrealized Gains (Losses) Foreign Currency Total Balance, December 31, 2023 $ (399) $ (10,280) $ (10,679) Other comprehensive loss (106) (801) (907) Balance, March 31, 2024 $ (505) $ (11,081) $ (11,586) Other comprehensive income (loss) 119 (2,727) (2,608) Balance, June 30, 2024 $ (386) $ (13,808) $ (14,194) Other comprehensive income 434 4,640 5,074 Balance, September 30, 2024 $ 48 $ (9,168) $ (9,120) Unrealized Gains (Losses) Foreign Currency Total Balance, December 31, 2022 $ (1,251) $ (5,928) $ (7,179) Other comprehensive income 184 1,676 1,860 Balance, March 31, 2023 $ (1,067) $ (4,252) $ (5,319) Other comprehensive loss (850) (557) (1,407) Balance, June 30, 2023 $ (1,917) $ (4,809) $ (6,726) Other comprehensive income (loss) 656 (6,799) (6,143) Balance, September 30, 2023 $ (1,261) $ (11,608) $ (12,869)

Segment Data

Segment Data	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Data	Segment Data Our operations comprise two reportable segments: the development, manufacture and sale of fully integrated hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share and analyze video and other digital evidence (collectively, the “Software and Sensors” segment); and the manufacture and sale of our CEDs, batteries, accessories, extended warranties and other products and services (collectively, the “TASER” segment). In both segments, we report sales of products and services. Service revenue in both segments includes sales related to Axon Evidence. In the Software and Sensors segment, service revenue also includes other recurring cloud-hosted software revenue and related professional services. Collectively, this revenue is sometimes referred to as “Axon Cloud revenue.” Reportable segments are determined based on discrete financial information reviewed by our Chief Executive Officer, who is our chief operating decision maker (“CODM”). We organize and review operations based on products and services, and currently there are no operating segments that are aggregated. We perform an analysis of our reportable segments at least annually. During the nine months ended September 30, 2024 , the segment measure of profit and loss used by the CODM was changed from gross margin to adjusted gross margin, defined as gross margin before stock-based compensation expense and amortization of acquired intangible assets. This change in segment measure allows the CODM to better assess operating results over time and is consistent with how the CODM evaluates our businesses. Accordingly, we have updated our segment disclosure for the three and nine months ended September 30, 2023 to conform to the new presentation. Information relative to our reportable segments was as follows (in thousands ): Three Months Ended September 30, 2024 2023 TASER segment net sales $ 221,734 $ 162,570 Software and Sensors segment net sales 322,540 250,708 Total consolidated net sales $ 544,274 $ 413,278 TASER adjusted gross margin $ 139,632 $ 102,151 Software and Sensors adjusted gross margin 204,258 157,147 Total segment adjusted gross margin $ 343,890 $ 259,298 Stock-based compensation expense 10,123 1,687 Amortization of acquired intangible assets 3,020 955 Gross margin $ 330,747 $ 256,656 Sales, general and administrative 192,189 122,357 Research and development 114,477 76,880 Interest income, net 10,978 10,458 Other income (loss), net 44,510 3,852 Income (loss) before provision for (benefit from) income taxes $ 79,569 $ 71,729 Nine Months Ended September 30, 2024 2023 TASER segment net sales $ 597,441 $ 452,167 Software and Sensors segment net sales 909,940 678,156 Total consolidated net sales $ 1,507,381 $ 1,130,323 TASER adjusted gross margin $ 374,072 $ 280,875 Software and Sensors adjusted gross margin 577,992 417,460 Total segment adjusted gross margin $ 952,064 $ 698,335 Stock-based compensation expense 48,235 4,685 Amortization of acquired intangible assets 8,298 2,189 Gross margin $ 895,531 $ 691,461 Sales, general and administrative 514,228 357,611 Research and development 307,008 219,747 Interest income, net 31,134 29,787 Other income (loss), net 191,510 (42,569) Income before provision for income taxes $ 296,939 $ 101,321

Business Acquisitions

Business Acquisitions	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Acquisitions	Business Acquisitions Fusus, LLC. On January 31, 2024, we acquired the remaining 79.7% interest in Fusus, LLC (“Fusus”), a global leader in real-time crime center technology, for total consideration transferred of approximately $241.3 million, subject to customary adjustments (the “step acquisition”). The acquisition expands our ability to aggregate live video, data and sensor feeds, which enhances situational awareness and investigative capabilities for our customers in public safety, education and enterprise. Total transaction costs related to the acquisition were $0.3 million and $4.6 million for the three and nine months ended September 30, 2024, respectively. These transaction costs were expensed as incurred in sales, general and administrative expenses (“SG&A”) in our condensed consolidated statements of operations. Our existing 20.3% interest had a fair value at the acquisition date of $63.3 million, which resulted in a non-taxable gain of $42.3 million recorded in other income (loss), net in our condensed consolidated statement of operations. Prior to the step acquisition, the fair value of the previously held investment was determined using Level 3 valuation techniques, which include inputs to the valuation methodology that are considered unobservable and significant to the fair value measurement. The purchase price allocation is subject to revision during the measurement period, which is expected to be completed in the fourth quarter of 2024. Based on the purchase price allocation, we recorded $250.1 million of goodwill, $72.9 million of identifiable intangible assets, and other net liabilities assumed of $7.8 million, excluding deferred taxes. We recorded a net deferred tax liability of $10.5 million. With the assistance of third-party valuation experts, we calculated the fair values of intangible assets using the multi-period excess earnings method for the acquired developed technology and the with and without method for customer relationships. The weighted average amortization period of the acquired intangible assets was 7.5 years. The goodwill generated from the acquisition is primarily attributable to synergies that are expected to be achieved from the integration of the business and is not deductible for tax purposes. Following the acquisition, the consolidated results of Fusus are included in the Company’s Software and Sensors operating segment.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event In October 2024, we acquired the remaining outstanding stock of Dedrone Holdings, Inc. ("Dedrone"), a global leader in air space security, for approximately $400 million, subject to customary purchase price adjustments. This acquisition will be recorded to our Software and Sensors segment, and it represents alignment to our mission and positions us to accelerate the next generation of drone and air space solutions. Prior to this transaction, we had an approximately 20% ownership interest in Dedrone. This transaction is considered a “step acquisition” under GAAP whereby our ownership interest in Dedrone held before the acquisition is required to be remeasured to fair value at the date of the acquisition. We expect to recognize a gain on our previously held strategic equity investment as a result of this transaction in the fourth quarter of 2024. Due to the proximity of the closing date of the acquisition of the remaining interest in Dedrone to the date of this filing, the initial accounting for the acquisition is not yet complete. Transaction costs related to the acquisition were approximately $7.5 million for the nine months ended September 30, 2024. These transaction costs were expensed as incurred in SG&A in our condensed consolidated statements of operations.

Revision of Prior Period Financ

Revision of Prior Period Financial Statements	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Revision of Prior Period Financial Statements	Revision of Prior Period Financial Statements As discussed in Note 1, in preparing the condensed consolidated financial statements as of and for the three and nine months ended September 30, 2024, we identified errors in our previously issued financial statements related to our historical conclusions of principal vs. agent accounting of certain reseller arrangements under ASC 606 and concluded they were not material to any previously issued financial statements. The identified errors impacted our previously issued 2021 and 2022 annual financial statements, 2023 quarterly and annual financial statements, and 2024 quarterly financial statements through June 30, 2024. We have made adjustments to the prior period amounts presented in these financial statements accordingly. Additionally, we have made adjustments to correct for other previously identified immaterial errors. The following tables reflect the impact of the revision to the specific line items presented in our previously reported (a) consolidated balance sheet as of December 31, 2023; (b) consolidated statements of operations and comprehensive income for the years ended December 31, 2023, December 31, 2022, and December 31, 2021, and for the quarterly periods ended June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023; (c) consolidated statements of cash flows for the years ended December 31, 2023 and December 31, 2022, and for the year to date periods ended June 30, 2024, March 31, 2024, September 30, 2023; and (d) consolidated statements of stockholder's equity for the quarterly periods ending December 31, 2022 through June 30, 2024. Consolidated Balance Sheet (in thousands) As of December 31, 2023 As Reported Revision As Revised Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023 $ 417,690 $ (4,729) $ 412,961 Contract assets, net 275,779 11,453 287,232 Prepaid expenses and other current assets 112,786 (9,731) 103,055 Total current assets 2,396,649 (3,007) 2,393,642 Deferred tax assets, net 229,513 (1,729) 227,784 Long-term contract assets, net 77,710 6,672 84,382 Other long-term assets 220,638 (29,607) 191,031 Total assets 3,436,845 (27,671) 3,409,174 Accounts payable 88,326 (22,474) 65,852 Accrued liabilities 188,230 5,320 193,550 Current portion of deferred revenue 491,691 (21,276) 470,415 Total current liabilities 799,969 (38,430) 761,539 Deferred revenue, net of current portion 281,852 (10,951) 270,901 Other long-term liabilities 2,936 17,979 20,915 Total liabilities 1,824,811 (31,402) 1,793,409 Retained earnings 431,249 3,731 434,980 Total stockholders’ equity 1,612,034 3,731 1,615,765 Total liabilities and stockholders’ equity $ 3,436,845 $ (27,671) $ 3,409,174 Consolidated Statements of Operations and Comprehensive Income (in thousands, except per share data) Three Months Ended June 30, 2024 As Reported Revision As Revised Net sales from products $ 295,185 $ (2,422) $ 292,763 Net sales from services 208,914 1,559 210,473 Net sales 504,099 (863) 503,236 Cost of product sales 145,154 (2,527) 142,627 Cost of service sales 55,210 (757) 54,453 Cost of sales 200,364 (3,284) 197,080 Gross margin 303,735 2,421 306,156 Sales, general and administrative 169,427 1,537 170,964 Total operating expenses 270,861 1,537 272,398 Income from operations 32,874 884 33,758 Income before provision for income taxes 50,590 884 51,474 Provision for (benefit from) income taxes 9,793 208 10,001 Net income $ 40,797 $ 676 $ 41,473 Net income per common and common equivalent shares - Basic $ 0.54 $ 0.01 $ 0.55 Comprehensive income $ 38,189 $ 676 $ 38,865 There was no impact on disclosed diluted income per common and common equivalent shares for the three months ended June 30, 2024. Six Months Ended June 30, 2024 As Reported Revision As Revised Net sales from products $ 567,233 $ (4,046) $ 563,187 Net sales from services 397,602 2,318 399,920 Net sales 964,835 (1,728) 963,107 Cost of product sales 296,852 (2,065) 294,787 Cost of service sales 104,202 (666) 103,536 Cost of sales 401,054 (2,731) 398,323 Gross margin 563,781 1,003 564,784 Sales, general and administrative 322,096 (57) 322,039 Total operating expenses 514,627 (57) 514,570 Income from operations 49,154 1,060 50,214 Income before provision for income taxes 216,310 1,060 217,370 Provision for (benefit from) income taxes 42,295 250 42,545 Net income $ 174,015 $ 810 $ 174,825 Net income per common and common equivalent shares - Basic $ 2.31 $ 0.01 $ 2.32 Net income per common and common equivalent shares - Diluted $ 2.25 $ 0.01 $ 2.26 Comprehensive income $ 170,500 $ 810 $ 171,310 Three Months Ended March 31, 2024 As Reported Revision As Revised Net sales from products $ 272,048 $ (1,624) $ 270,424 Net sales from services 188,688 759 189,447 Net sales 460,736 (865) 459,871 Cost of product sales 151,698 462 152,160 Cost of service sales 48,992 91 49,083 Cost of sales 200,690 553 201,243 Gross margin 260,046 (1,418) 258,628 Sales, general and administrative 152,669 (1,594) 151,075 Total operating expenses 243,766 (1,594) 242,172 Income from operations 16,280 176 16,456 Income before provision for income taxes 165,720 176 165,896 Provision for (benefit from) income taxes 32,502 42 32,544 Net income $ 133,218 $ 134 $ 133,352 Comprehensive income $ 132,311 $ 134 $ 132,445 There was no impact on disclosed basic and diluted income per common and common equivalent shares for the three months ended March 31, 2024. Three Months Ended December 31, 2023 As Reported Revision As Revised Net sales from products $ 258,405 $ (1,966) $ 256,439 Net sales from services 173,737 200 173,937 Net sales 432,142 (1,766) 430,376 Cost of product sales 125,664 (1,764) 123,900 Cost of service sales 42,591 (107) 42,484 Cost of sales 168,255 (1,871) 166,384 Gross margin 263,887 105 263,992 Sales, general and administrative 137,106 167 137,273 Total operating expenses 221,078 167 221,245 Income from operations 42,809 (62) 42,747 Income before provision for income taxes 55,802 (62) 55,740 Provision for (benefit from) income taxes (1,469) 148 (1,321) Net income $ 57,271 $ (210) $ 57,061 Comprehensive income $ 59,461 $ (210) $ 59,251 There was no impact on disclosed basic and diluted income per common and common equivalent shares for the three months ended December 31, 2023. Year Ended December 31, 2023 As Reported Revision As Revised Net sales from products $ 967,711 $ (3,709) $ 964,002 Net sales from services 595,680 1,017 596,697 Net sales 1,563,391 (2,692) 1,560,699 Cost of product sales 450,718 (3,010) 447,708 Cost of service sales 157,291 247 157,538 Cost of sales 608,009 (2,763) 605,246 Gross margin 955,382 71 955,453 Sales, general and administrative 496,874 (1,990) 494,884 Total operating expenses 800,593 (1,990) 798,603 Income from operations 154,789 2,061 156,850 Income before provision for income taxes 155,000 2,061 157,061 Provision for (benefit from) income taxes (19,227) 505 (18,722) Net income $ 174,227 $ 1,556 $ 175,783 Net income per common and common equivalent shares - Basic $ 2.35 $ 0.02 $ 2.37 Net income per common and common equivalent shares - Diluted $ 2.31 $ 0.02 $ 2.33 Comprehensive income $ 170,727 $ 1,556 $ 172,283 Three Months Ended September 30, 2023 As Reported Revision As Revised Net sales from products $ 256,443 $ (1,388) $ 255,055 Net sales from services 157,158 1,065 158,223 Net sales 413,601 (323) 413,278 Cost of product sales 116,278 (1,665) 114,613 Cost of service sales 42,051 (42) 42,009 Cost of sales 158,329 (1,707) 156,622 Gross margin 255,272 1,384 256,656 Sales, general and administrative 123,279 (922) 122,357 Total operating expenses 200,159 (922) 199,237 Income from operations 55,113 2,306 57,419 Income before provision for income taxes 69,423 2,306 71,729 Provision for (benefit from) income taxes 10,026 394 10,420 Net income $ 59,397 $ 1,912 $ 61,309 Net income per common and common equivalent shares - Basic $ 0.79 $ 0.03 $ 0.82 Net income per common and common equivalent shares - Diluted $ 0.78 $ 0.03 $ 0.81 Comprehensive income $ 53,254 $ 1,912 $ 55,166 Nine Months Ended September 30, 2023 As Reported Revision As Revised Net sales from products $ 709,306 $ (1,743) $ 707,563 Net sales from services 421,943 817 422,760 Net sales 1,131,249 (926) 1,130,323 Cost of product sales 325,054 (1,246) 323,808 Cost of service sales 114,700 354 115,054 Cost of sales 439,754 (892) 438,862 Gross margin 691,495 (34) 691,461 Sales, general and administrative 359,768 (2,157) 357,611 Total operating expenses 579,515 (2,157) 577,358 Income from operations 111,980 2,123 114,103 Income before provision for income taxes 99,198 2,123 101,321 Provision for (benefit from) income taxes (17,758) 357 (17,401) Net income $ 116,956 $ 1,766 $ 118,722 Net income per common and common equivalent shares - Basic $ 1.58 $ 0.03 $ 1.61 Net income per common and common equivalent shares - Diluted $ 1.56 $ 0.02 $ 1.58 Comprehensive income $ 111,266 $ 1,766 $ 113,032 Year Ended December 31, 2022 As Reported Revision As Revised Net sales from products $ 801,388 $ (4,211) $ 797,177 Net sales from services 388,547 1,419 389,966 Net sales 1,189,935 (2,792) 1,187,143 Cost of product sales 363,219 (2,310) 360,909 Cost of service sales 98,078 2,043 100,121 Cost of sales 461,297 (267) 461,030 Gross margin 728,638 (2,525) 726,113 Sales, general and administrative 401,575 (2,245) 399,330 Total operating expenses 635,385 (2,245) 633,140 Income from operations 93,253 (280) 92,973 Income before provision for income taxes 196,518 (280) 196,238 Provision for (benefit from) income taxes 49,379 (71) 49,308 Net income $ 147,139 $ (209) $ 146,930 Comprehensive income $ 141,277 $ (209) $ 141,068 There was no impact on disclosed income per common and common equivalent shares for the year ended December 31, 2022. Year Ended December 31, 2021 As Reported Revision As Revised Net sales from products $ 608,525 $ (1,629) $ 606,896 Net sales from services 254,856 3,886 258,742 Net sales 863,381 2,257 865,638 Cost of product sales 260,098 (2,452) 257,646 Cost of service sales 62,373 (103) 62,270 Cost of sales 322,471 (2,555) 319,916 Gross margin 540,910 4,812 545,722 Sales, general and administrative 515,007 (162) 514,845 Total operating expenses 709,033 (162) 708,871 Income from operations (168,123) 4,974 (163,149) Income before provision for income taxes (141,375) 4,974 (136,401) Provision for (benefit from) income taxes (81,357) 1,295 (80,062) Net income $ (60,018) $ 3,679 $ (56,339) Net income per common and common equivalent shares - Basic $ (0.91) $ 0.06 $ (0.85) Net income per common and common equivalent shares - Diluted $ (0.91) $ 0.06 $ (0.85) Comprehensive income $ (61,476) $ 3,679 $ (57,797) Consolidated Statements of Stockholders' Equity (in thousands) As Reported Revision As Revised Retained Earnings Total Retained Earnings Total Retained Earnings Total Balance, December 31, 2022 $ 257,022 $ 1,268,491 $ 2,175 $ 2,175 $ 259,197 $ 1,270,666 Net income 45,139 45,139 760 760 45,899 45,899 Balance, March 31, 2023 $ 302,161 $ 1,402,995 $ 2,935 $ 2,935 $ 305,096 $ 1,405,930 Net income 12,420 12,420 (906) (906) 11,514 11,514 Balance, June 30, 2023 $ 314,581 $ 1,444,998 $ 2,029 $ 2,029 $ 316,610 $ 1,447,027 Net income 59,397 59,397 1,912 1,912 61,309 61,309 Balance, September 30, 2023 $ 373,978 $ 1,521,117 $ 3,941 $ 3,941 $ 377,919 $ 1,525,058 Net income 57,271 57,271 (210) (210) 57,061 57,061 Balance, December 31, 2023 $ 431,249 $ 1,612,034 $ 3,731 $ 3,731 $ 434,980 $ 1,615,765 Net income 133,218 133,218 134 134 133,352 133,352 Balance, March 31, 2024 $ 564,467 $ 1,818,015 $ 3,865 $ 3,865 $ 568,332 $ 1,821,880 Net income 40,797 40,797 676 676 41,473 41,473 Balance, June 30, 2024 $ 605,264 $ 1,928,840 $ 4,541 $ 4,541 $ 609,805 $ 1,933,381 Consolidated Statements of Cash Flows (in thousands) Six Months Ended June 30, 2024 As Reported Revision As Revised Cash flows from operating activities: Net income $ 174,015 $ 810 $ 174,825 Provision for bad debts and inventory 2,241 8,843 11,084 Change in assets and liabilities: Receivables and contract assets (60,513) (16,579) (77,092) Inventory (8,116) (8,843) (16,959) Deferred revenue (12,067) 3,568 (8,499) Accounts payable, accrued and other liabilities (43,071) (461) (43,532) Other - net (4,252) 12,662 8,410 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or from cash flows from investing or financing activities. Three Months Ended March 31, 2024 As Reported Revision As Revised Cash flows from operating activities: Net income $ 133,218 $ 134 $ 133,352 Provision for bad debts and inventory 216 1,364 1,580 Change in assets and liabilities: Receivables and contract assets (51,132) (5,605) (56,737) Inventory (710) (1,364) (2,074) Deferred revenue 20,743 (1,622) 19,121 Accounts payable, accrued and other liabilities (84,289) (1,551) (85,840) Other - net 2 8,644 8,646 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or from cash flows from investing or financing activities. Year Ended December 31, 2023 As Reported Revision As Revised Cash flows from operating activities: Net income $ 174,227 $ 1,556 $ 175,783 Deferred income taxes (73,002) 505 (72,497) Provision for bad debts and inventory 1,090 4,394 5,484 Change in assets and liabilities: Receivables and contract assets (172,524) (6,465) (178,989) Inventory (71,896) (5,730) (77,626) Deferred revenue 164,043 (17,224) 146,819 Accounts payable, accrued and other liabilities 64,384 945 65,329 Other - net (102,370) 22,019 (80,351) Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or from cash flows from investing or financing activities. Nine Months Ended September 30, 2023 As Reported Revision As Revised Cash flows from operating activities: Net income $ 116,956 $ 1,766 $ 118,722 Deferred income taxes (53,311) 356 (52,955) Provision for bad debts and inventory 887 4,196 5,083 Change in assets and liabilities: Receivables and contract assets (182,468) (4,146) (186,614) Inventory (59,564) (5,532) (65,096) Deferred revenue 118,294 (14,908) 103,386 Accounts payable, accrued and other liabilities 13,423 (56) 13,367 Other - net (64,608) 18,324 (46,284) Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or from cash flows from investing or financing activities. Year Ended December 31, 2022 As Reported Revision As Revised Cash flows from operating activities: Net income $ 147,139 $ (209) $ 146,930 Deferred income taxes 22,090 (71) 22,019 Provision for bad debts and inventory 699 2 701 Change in assets and liabilities: Receivables and contract assets (73,228) (4,998) (78,226) Inventory (95,987) 976 (95,011) Deferred revenue 159,718 (4,152) 155,566 Accounts payable, accrued and other liabilities 80,757 221 80,978 Other - net (52,207) 8,231 (43,976) Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or from cash flows from investing or financing activities.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2024

Jun. 30, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Jun. 30, 2024

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Pay vs Performance Disclosure

Net income

$ 67,025

$ 41,473

$ 133,352

$ 57,061

$ 61,309

$ 11,514

$ 45,899

$ 174,825

$ 241,850

$ 118,722

$ 175,783

$ 146,930

$ (56,339)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		The table below describes the contracts, instructions or written plans for the purchase or sale of securities adopted by our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) during the three months ended September 30, 2024, that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Name and Title Adoption Date Expiration Date Aggregate Number of Securities to be Sold Brittany Bagley, Chief Operating Officer and Chief Financial Officer August 16, 2024 December 31, 2025 6,325 Caitlin Kalinowski, Director August 20, 2024 December 31, 2025 450
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Brittany Bagley [Member]
Trading Arrangements, by Individual
Name	Brittany Bagley
Title	Chief Operating Officer and Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 16, 2024
Expiration Date	December 31, 2025
Arrangement Duration	502 days
Aggregate Available	6,325	6,325
Caitlin Kalinowski [Member]
Trading Arrangements, by Individual
Name	Caitlin Kalinowski
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 20, 2024
Expiration Date	December 31, 2025
Arrangement Duration	498 days
Aggregate Available	450	450

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates These unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information related to our organization, significant accounting policies and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP” or “GAAP”) has been condensed or omitted. The accounting policies followed in the preparation of these unaudited condensed consolidated financial statements are consistent with those followed in our annual consolidated financial statements for the year ended December 31, 2023, as filed on Form 10-K. In the opinion of management, these unaudited condensed consolidated financial statements contain all material adjustments, consisting only of normal recurring adjustments, necessary to fairly state our financial position, results of operations and cash flows for the periods presented and the presentations and disclosures herein are adequate when read in conjunction with our Form 10-K for the year ended December 31, 2023. Our results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year (or any other period). Significant estimates and assumptions in these unaudited condensed consolidated financial statements include: • revenue recognition, • stock-based compensation, • business combinations, • product warranty reserves, • inventory valuation and related reserves, • valuation of goodwill, intangible and long-lived assets, • valuation of strategic investments, • recognition, measurement and valuation of current and deferred income taxes, and • recognition and measurement of contingencies and accrued litigation expense. The Company believes that estimates used in the preparation of these unaudited condensed consolidated financial statements are reasonable; however, actual results could differ materially from those estimates.
Restatement of Previously Issued Financial Statements	Revision of Previously Issued Financial Statements In preparing the condensed consolidated financial statements as of and for the three and nine months ended September 30, 2024, we identified errors in our previously issued financial statements related to our historical conclusions of principal vs. agent accounting of certain reseller arrangements under ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The identified errors impacted our previously issued 2021 and 2022 annual financial statements, 2023 quarterly and annual financial statements, and 2024 quarterly financial statements through June 30, 2024. We have made adjustments to the prior period amounts presented in these financial statements accordingly. Additionally, we have made adjustments to correct for other previously identified immaterial errors. We assessed the materiality of the errors on prior period consolidated financial statements in accordance with SEC Staff Accounting Bulletin No. 99, "Materiality," codified in ASC Topic 250, Accounting Changes and Error Corrections. Based on this assessment, we concluded that the error correction is not material to any previously presented interim or annual financial statements. A summary of the revisions to the previously reported financial information is included in Note 19. Reclassification of Prior Year Presentation Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications are not material and had no effect on the reported results of operations.
Geographic Information and Major Customers / Suppliers	Geographic Information and Major Customers / Suppliers For the three and nine months ended September 30, 2024 and 2023, no individual country outside the United States represented more than 10% of total net sales. Individual sales transactions in the international market are generally larger and occur more intermittently than in the domestic market due to the profile of our customers. For the three and nine months ended September 30, 2024 and 2023, no customer represented more than 10% of total net sales. At September 30, 2024 and December 31, 2023, no customer represented more than 10% of the aggregate balance of accounts and notes receivable and contract assets. We currently purchase both off-the-shelf and custom components, including finished circuit boards, injection-molded plastic components, small machined parts, custom cartridge components, electronic components and sub-assemblies from suppliers located in the United States, Taiwan, Mexico, China, Vietnam and the Republic of Korea. We may source from other countries as well. Although we currently obtain many of these components from single source suppliers, we own substantially all injection molded component tooling, designs and test fixtures used in their production for all custom components. As a result, we believe we could obtain alternative suppliers in most cases. Although we have experienced supply chain disruptions relating to materials and port constraints, we have remained focused on closely managing our supply chain. We continue to bolster our strategic relationships in our supply chain, identifying secondary/alternate sourcing, adjusting build plans accordingly, and building in logistic modes in support of our increasing demand while working to minimize disruption to customers. We acquire most of our components on a purchase order basis and do not currently have significant long-term purchase contracts with most component suppliers.
Income per Common Share	Income per Common Share
Warranty Reserves	Warranty Reserves We warranty our TASER® brand conducted energy devices (“CEDs”) , Axon cameras and certain related accessories from manufacturing defects on a limited basis for a period of one year after purchase and, thereafter, will replace any defective unit for a fee. We estimate and record a liability for standard warranty at the time products are sold. The estimates are based on historical experience and reflect management’s best estimates of costs to be incurred over the warranty period. Adjustments may be required when actual or projected costs differ. Variations in component failure rates, repair costs and the point of failure within the product life cycle are key drivers that impact our periodic re-assessment of the warranty liability. Revenue related to separately priced extended warranties is initially recorded as deferred revenue at its allocated amount and subsequently recognized as net sales on a straight-line basis over the warranty service period. Costs related to extended warranties are charged to cost of product and service sales when the costs become probable and can be reasonably estimated.
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments We use the fair value framework that prioritizes the inputs to valuation techniques for measuring financial assets and liabilities measured on a recurring basis and for non-financial assets and liabilities when these items are re-measured. Fair value is considered to be the exchange price in an orderly transaction between market participants, to sell an asset or transfer a liability at the measurement date. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. We categorize each of our fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are: • Level 1 – Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured. • Level 2 – Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices from markets that are not active for assets or liabilities that are identical or similar to the assets or liabilities being measured. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques. • Level 3 – Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect our own assumptions about inputs that market participants would use in pricing an asset or liability.
Restricted Cash	Restricted Cash Restricted cash balanc es of $2.3 million and $2.1 million as of September 30, 2024 and December 31, 2023, respectively, primarily relate to funds held in an international bank account for a country in which we are required to maintain a minimum balance to operate. As of September 30, 2024, approximately $2.2 million was included in prepaid expenses and other current assets on our condensed consolidated balance sheet, with the remainder in other long-term assets.
Valuation of Goodwill, Intangibles and Long-lived Assets	Valuation of Goodwill, Intangibles and Long-lived Assets We evaluate whether events and circumstances have occurred that indicate the remaining estimated useful life of long-lived assets and identifiable intangible assets, excluding goodwill and intangible assets with indefinite useful lives, may warrant revision or that the remaining balance of these assets may not be recoverable. Such events and circumstances could include a change in the product mix, a change in the way products are created, produced or delivered, or a significant change in the way products are branded and marketed. In performing the review for recoverability, we estimate the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. The amount of impairment loss, if impairment exists, is calculated based on the excess of the carrying amounts of the assets over their estimated fair values computed using discounted cash flows. Finite-lived intangible assets and other long-lived assets are amortized over their estimated useful lives. We do not amortize goodwill and intangible assets with indefinite useful lives; rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. We test goodwill and indefinite-lived intangible assets for impairment on an annual basis in the fourth quarter and on an interim basis when certain events and circumstances exist.
Business Combinations	Business Combinations Acquired businesses are included in the consolidated financial statements from the date we gain control of the business. We recognize, separately from goodwill, the identifiable assets acquired and liabilities assumed at their estimated acquisition-date fair values. Our estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, we may record qualifying adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions, tax-related valuation allowances and pre-acquisition contingencies are initially recorded in connection with a business combination as of the acquisition date. We continue to collect information and reevaluate these estimates and assumptions quarterly and record any qualifying adjustments to our preliminary estimates to goodwill provided that we are within the measurement period. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our condensed consolidated statement of operations. In the event that we acquire an entity in which we previously held an existing minority ownership interest, the difference between the fair value of the interest as of the acquisition date and the carrying value of the interest is recorded as a gain or loss within other income (loss), net, in the condensed consolidated statement of operations. Preexisting relationships subject to termination as a result of consummating an acquisition may require the recognition of a gain or loss upon settlement, which is recognized within income from operations on the condensed consolidated statement of operations. All third-party transaction-related costs are recognized as expense in the period in which they are incurred.
Stock-Based Compensation	Stock-Based Compensation On May 10, 2024, our shareholders approved the Axon Enterprise, Inc. 2024 eXponential Stock Plan (the “2024 Employee XSP”). The 2024 Employee XSP includes an approved pool of shares of common stock to be reserved for grants of awards of eXponential Stock Units (“XSUs”) to employees. The grants of XSUs (the “2024 XSUs”) are grants of performance-based RSUs that vest in seven substantially equal tranches. The tranches will vest upon certification by the Compensation Committee of the Board of Directors upon achievement of three independent vesting conditions: (1) stock price goals; (2) operational goals; and (3) minimum service conditions. Additionally, shareholders approved the grant of the 2024 XSUs to our CEO, Patrick W. Smith (the “2024 CEO Performance Award”). The stock price goals and operational goals under the 2024 CEO Performance Award are identical to those under the 2024 Employee XSP, but Mr. Smith is subject to a longer minimum required service period. Refer to Note 12 for further discussion regarding ongoing progress towards reaching the aforementioned goals.
Recently Issued Accounting Guidance and Disclosure Rules	Recently Issued Accounting Guidance and Disclosure Rules Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires annual and interim disclosures that are expected to improve reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The new standard is effective for our Annual Report on Form 10-K for the year ending December 31, 2024, and subsequent interim periods, with early adoption permitted. We are currently evaluating the impact of this update on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is intended to enhance the transparency and decision usefulness of income tax. The provisions of ASU 2023-09 are effective for our Annual Report on Form 10-K for the year ending December 31, 2025, with early adoption permitted. We are currently evaluating the impact of this update on our consolidated financial statements. In March 2024, the SEC adopted final rules under SEC Release No. 34-99678 and No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors (the “Final Rules”), which will require registrants to provide certain climate-related information in their registration statements and annual reports. The Final Rules require, among other things, disclosure in the notes to the audited financial statements of the effects of severe weather events and other natural conditions, subject to certain thresholds, as well as amounts related to carbon offsets and renewable energy credits or certificates in certain circumstances. The financial statement disclosure requirements of the Final Rules will begin phasing in for the Company for fiscal year 2025. In April 2024, the SEC stayed the effectiveness of the Final Rules pending judicial review. We are currently evaluating the impact of the Final Rules on our consolidated financial statements.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of weighted average number of shares outstanding and earnings per share	The calculation of the weighted average number of shares outstanding and earnings per share are as follows (in thousands except per share data): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Numerator for basic and diluted earnings per share: Net income $ 67,025 $ 61,309 $ 241,850 $ 118,722 Denominator: Weighted average shares outstanding 75,697 74,826 75,543 73,904 Dilutive effect of stock-based awards 1,317 1,126 1,298 1,308 Dilutive effect of 2027 Notes 1,015 — 773 — Dilutive effect of 2027 Warrants 51 — — — Diluted weighted average shares outstanding 78,080 75,952 77,614 75,212 Net income per common share: Basic $ 0.89 $ 0.82 $ 3.20 $ 1.61 Diluted $ 0.86 $ 0.81 $ 3.12 $ 1.58
Schedule of potentially dilutive securities excluded in calculation of diluted net income per share	Potentially dilutive securities that are not included in the calculation of diluted net income per share because doing so would be antidilutive are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Stock-based awards 4,574 481 4,620 470 2027 Notes 2,002 3,017 2,244 3,017 2027 Warrants 2,966 3,017 3,017 3,017 Total potentially dilutive securities 9,542 6,515 9,881 6,504
Summary of changes in our estimated warranty reserve	Changes in our estimated product warranty liabilities were as follows (in thousands): Nine Months Ended September 30, 2024 2023 Balance, beginning of period $ 7,374 $ 811 Utilization of reserve (5,007) (901) Warranty expense 4,860 3,381 Balance, end of period $ 7,227 $ 3,291

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of revenue by product and service offering and geography	The following tables present our revenues by primary product and service offering and reportable segment (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 TASER Software and Total TASER Software and Total TASER Devices (Professional) $ 130,515 $ — $ 130,515 $ 86,718 $ — $ 86,718 Cartridges 60,179 — 60,179 54,279 — 54,279 Axon Evidence and Cloud Services 13,861 203,481 217,342 8,975 151,518 160,493 Extended Warranties 9,729 17,306 27,035 8,078 14,046 22,124 Axon Body Cameras and Accessories — 70,363 70,363 — 52,488 52,488 Axon Fleet Systems — 23,239 23,239 — 27,336 27,336 Other (1) (2) 7,450 8,151 15,601 4,520 5,320 9,840 Total $ 221,734 $ 322,540 $ 544,274 $ 162,570 $ 250,708 $ 413,278 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 TASER Software and Total TASER Software and Total TASER Devices (Professional) $ 333,815 $ — $ 333,815 $ 239,165 $ — $ 239,165 Cartridges 181,792 — 181,792 149,504 — 149,504 Axon Evidence and Cloud Services 40,297 570,222 610,519 25,575 401,281 426,856 Extended Warranties 27,164 48,651 75,815 23,463 40,194 63,657 Axon Body Cameras and Accessories — 180,592 180,592 — 124,066 124,066 Axon Fleet Systems — 79,620 79,620 — 99,015 99,015 Other (1) (2) 14,373 30,855 45,228 14,460 13,600 28,060 Total $ 597,441 $ 909,940 $ 1,507,381 $ 452,167 $ 678,156 $ 1,130,323 (1) TASER segment “Other” includes smaller categories, such as Virtual Reality (“VR”) hardware, weapons training revenue such as revenue associated with our Master Instructor School, and TASER consumer device sales. (2) Software and Sensors segment “Other” includes revenue from items including Signal Sidearm, Interview Room, Axon Air and other sensors and equipment. The following table presents our revenues disaggregated by geography (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 United States $ 482,596 89 % $ 341,767 83 % $ 1,298,775 86 % $ 954,023 84 % Other countries 61,678 11 71,511 17 208,606 14 176,300 16 Total $ 544,274 100 % $ 413,278 100 % $ 1,507,381 100 % $ 1,130,323 100 %
Summary of contract with customer, assets and liabilities	The following table presents our contract assets, contract liabilities and certain information related to these balances as of and for the nine months ended September 30, 2024 (in thousands): September 30, 2024 Contract assets, net $ 492,896 Contract liabilities (deferred revenue) 810,422 Revenue recognized in the period from: Amounts included in contract liabilities at the beginning of the period 432,411 Contract liabilities (deferred revenue) consisted of the following (in thousands): September 30, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total Extended Warranty: TASER $ 15,783 $ 18,162 $ 33,945 $ 14,666 $ 18,828 $ 33,494 Software and Sensors 20,300 8,749 29,049 22,642 8,165 30,807 36,083 26,911 62,994 37,308 26,993 64,301 Hardware: TASER 43,322 32,737 76,059 35,845 29,689 65,534 Software and Sensors 65,067 136,105 201,172 63,299 117,024 180,323 108,389 168,842 277,231 99,144 146,713 245,857 Services: TASER 8,510 5,141 13,651 7,832 3,983 11,815 Software and Sensors 352,026 104,520 456,546 326,131 93,212 419,343 360,536 109,661 470,197 333,963 97,195 431,158 Total $ 505,008 $ 305,414 $ 810,422 $ 470,415 $ 270,901 $ 741,316 September 30, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total TASER $ 67,615 $ 56,040 $ 123,655 $ 58,343 $ 52,500 $ 110,843 Software and Sensors 437,393 249,374 686,767 412,072 218,401 630,473 Total $ 505,008 $ 305,414 $ 810,422 $ 470,415 $ 270,901 $ 741,316

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Summary of cash, cash equivalents, marketable securities, and available-for-sale investments	The following tables summarize our cash, cash equivalents, marketable securities and available-for-sale investments at September 30, 2024 and December 31, 2023 (in thousands): As of September 30, 2024 Amortized Gross Gross Fair Value Cash and Marketable Short-Term Cash $ 85,256 $ — $ — $ 85,256 $ 85,256 $ — $ — Level 1: Money market funds 438,408 — — 438,408 438,408 — — U.S. government 140,758 23 (5) 140,776 — — 140,776 Marketable securities 90,000 61,560 — 151,560 — 151,560 — Treasury bills 117,880 19 (2) 117,897 48,513 — 69,384 Agency bonds 104,780 — (13) 104,767 104,767 — — Subtotal 891,826 61,602 (20) 953,408 591,688 151,560 210,160 Level 2: Term deposits 119,610 — — 119,610 18,200 — 101,410 Subtotal 119,610 — — 119,610 18,200 — 101,410 Total $ 1,096,692 $ 61,602 $ (20) $ 1,158,274 $ 695,144 $ 151,560 $ 311,570 As of December 31, 2023 Amortized Gross Gross Fair Value Cash and Marketable Short-Term Cash $ 406,743 $ — $ — $ 406,743 $ 406,743 $ — $ — Level 1: Money market funds 1,470 — — 1,470 1,470 — — Agency bonds 222,057 2 (174) 221,885 101,635 — 120,250 U.S. government 238,747 120 (237) 238,630 — — 238,630 Treasury bills 148,063 28 — 148,091 88,697 — 59,394 Marketable securities 90,000 — (12,060) 77,940 — 77,940 — Subtotal 700,337 150 (12,471) 688,016 191,802 77,940 418,274 Level 2: Term deposits 128,205 — — 128,205 — — 128,205 Corporate bonds 80,646 8 (165) 80,489 — — 80,489 Treasury inflation-protected securities 2,635 — (5) 2,630 — — 2,630 Commercial paper 14,456 — — 14,456 — — 14,456 Subtotal 225,942 8 (170) 225,780 — — 225,780 Total $ 1,333,022 $ 158 $ (12,641) $ 1,320,539 $ 598,545 $ 77,940 $ 644,054

Expected Credit Losses (Tables)

Expected Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2024
Credit Loss [Abstract]
Schedule of roll-forward of allowance for credit losses	The following table provides a roll-forward of the allowance for expected credit losses for finance receivables and off-balance sheet exposures. The expected credit losses for receivables are deducted from the amortized cost basis of accounts receivable, contract assets and notes receivable to present the net amount expected to be collected (in thousands): Nine Months Ended September 30, 2024 United States Other countries Total Balance, beginning of period $ 3,369 $ 597 $ 3,966 Provision for expected credit losses 2,606 216 2,822 Amounts written off charged against the allowance (700) (84) (784) Other, including foreign currency translation — 14 14 Balance, end of period $ 5,275 $ 743 $ 6,018
Schedule of allowance for expected credit losses for each type of customer receivable	As of September 30, 2024 and December 31, 2023 , the allowance for expected credit losses for each type of customer receivable and off-balance sheet exposures were as follows (in thousands): September 30, 2024 December 31, 2023 Accounts receivable and notes receivable, current $ 3,292 $ 2,392 Contract assets, net 2,678 1,516 Long-term notes receivable, net of current portion 48 44 Other current liabilities — 14 Total allowance for expected credit losses on customer receivables $ 6,018 $ 3,966

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory consisted of the following at September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Raw materials $ 100,526 $ 104,112 Finished goods 171,769 165,743 Total inventory $ 272,295 $ 269,855

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill for the nine months ended September 30, 2024 were as follows (in thousands): TASER Software and Total Balance, beginning of period $ 2,984 $ 54,961 $ 57,945 Goodwill acquired — 250,653 250,653 Purchase accounting adjustments — (364) (364) Foreign currency translation adjustments (14) 252 238 Balance, end of period $ 2,970 $ 305,502 $ 308,472
Schedule of intangible assets other than goodwill	Intangible assets (other than goodwill) consisted of the following at September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Useful Gross Accumulated Net Gross Accumulated Net Amortizable (definite-lived) intangible assets: Developed technology 3 ‑ 8 years $ 82,531 $ (21,478) $ 61,053 $ 29,402 $ (16,562) $ 12,840 Customer relationships 4 ‑ 10 years 18,649 (3,730) 14,919 5,530 (3,620) 1,910 Trademarks 3 ‑ 15 years 3,214 (1,312) 1,902 1,333 (817) 516 Issued patents 5 ‑ 25 years 3,019 (1,553) 1,466 3,222 (1,707) 1,515 Domain names 3 ‑ 10 years 3,043 (2,357) 686 3,043 (2,128) 915 Non-compete agreements 3 ‑ 4 years — — — 448 (448) — Total amortizable intangible assets 110,456 (30,430) 80,026 42,978 (25,282) 17,696 Non-amortizable (indefinite-lived) intangible assets: Trademarks 1,068 — 1,068 1,068 — 1,068 Patents and trademarks pending 654 — 654 775 — 775 Total non-amortizable intangible assets 1,722 — 1,722 1,843 — 1,843 Total intangible assets $ 112,178 $ (30,430) $ 81,748 $ 44,821 $ (25,282) $ 19,539
Schedule of estimated amortization expense of intangible assets	Estimated amortization for intangible assets with definite lives for the remaining three months of 2024 , the next five years ended December 31, and thereafter, is as follows (in thousands): 2024 remaining $ 3,840 2025 12,536 2026 12,341 2027 11,400 2028 11,289 2029 11,105 Thereafter 17,515 Total $ 80,026

Strategic Investments (Tables)

Strategic Investments (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of roll-forward of strategic investments	The following tables provide a roll-forward of the balance of strategic investments (in thousands): Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Equity investments Warrants Call options Debt investments Total Equity investments Warrants Call options Total Balance, beginning of period $ 340,108 $ 2,356 $ 13,033 $ 7,637 $ 363,134 $ 215,945 $ 459 $ 17,233 $ 233,637 Investments 24,322 — — — 24,322 4,099 1,176 — 5,275 Fair value adjustments: Unrealized gains — — — 449 449 — — — — Unrealized losses and impairments — — — — — — (113) — (113) Exercises — — — — — 1,500 — — 1,500 Balance, end of period $ 364,430 $ 2,356 $ 13,033 $ 8,086 $ 387,905 $ 221,544 $ 1,522 $ 17,233 $ 240,299 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Equity investments Warrants Call options Debt investments Total Equity investments Warrants Call options Total Balance, beginning of period $ 212,996 $ 1,501 $ 17,233 $ — $ 231,730 $ 277,676 $ 1,654 $ 17,233 $ 296,563 Investments 93,450 — — 7,500 100,950 15,016 1,176 — 16,192 Fair value adjustments: Realized gains 45,162 — 21 — 45,183 — — — — Realized losses — — (2,870) — (2,870) — — — — Unrealized gains 74,784 855 — 586 76,225 — — — — Unrealized losses and impairments — — — — — (72,648) (1,308) — (73,956) Exercises (61,962) — (1,351) — (63,313) 1,500 — — 1,500 Balance, end of period $ 364,430 $ 2,356 $ 13,033 $ 8,086 $ 387,905 $ 221,544 $ 1,522 $ 17,233 $ 240,299 For the debt security strategic investment, we recognized an unrealized gain of $0.6 million for the entire hybrid instrument in other income (loss), net on our condensed consolidated statement of operations during the nine months ended September 30, 2024. Inception to date Equity investments Warrants Call options Debt investments Total Investments $ 217,948 $ 4,222 $ 17,233 $ 7,500 $ 246,903 Fair value adjustments: Realized gains 57,474 — 21 — 57,495 Realized losses — — (2,870) — (2,870) Unrealized gains 149,601 29,928 — 586 180,115 Unrealized losses and impairments (82,304) (1,705) — — (84,009) Exercises 36,257 (30,089) (1,351) — 4,817 Sales (14,546) — — — (14,546) Balance, end of period $ 364,430 $ 2,356 $ 13,033 $ 8,086 $ 387,905

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of the unconsolidated non-public VIEs	As of September 30, 2024 and December 31, 2023, the unconsolidated non-public VIEs in which we hold variable interests were as follows (in thousands): September 30, 2024 December 31, 2023 Carrying value of variable interest - assets (1) $ 28,073 $ 4,986 (1) Balance reflects the maximum exposure to loss, which is limited to the carrying value of the interest.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of accrued liabilities	Accrued liabilities consisted of the following at September 30, 2024 and December 31, 2023 (in thousands): September 30, 2024 December 31, 2023 Accrued salaries, commissions, benefits and bonus $ 103,566 $ 125,636 Accrued income and other taxes 27,911 5,784 Accrued inventory in transit 11,428 12,197 Accrued professional, consulting and lobbying fees 10,870 7,377 Accrued warranty expense 7,227 7,374 Other accrued expenses 48,689 35,182 Accrued liabilities $ 209,691 $ 193,550

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2024
Convertible Notes Payable [Abstract]
Schedule of net carrying amount of convertible senior notes	The following table summarizes the carrying value of the Notes (in thousands): September 30, 2024 December 31, 2023 Principal $ 690,000 $ 690,000 Unamortized debt issuance costs (10,517) (12,887) Convertible notes carrying amount, net $ 679,483 $ 677,113 September 30, 2024 and December 31, 2023 is based on the closing trading price per $1,000 of the Notes as of the last day of trading for each period as follows (in millions): September 30, 2024 December 31, 2023 2027 Notes $ 1,239.8 $ 873.3
Schedule of interest expense of convertible senior notes	Interest expense related to the Notes was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Contractual interest expense $ 862 $ 863 $ 2,588 $ 2,588 Amortization of debt issuance costs 803 797 2,368 2,328 Total interest expense $ 1,665 $ 1,660 $ 4,956 $ 4,916
Schedule of convertible note hedge transaction	To reduce the impact of potential economic dilution upon conversion of the Notes, we entered into a convertible note hedge transaction (the “Note Hedge” or “2027 Note Hedge”) with certain investment banks, with respect to our common stock, concurrently with the issuance of the 2027 Notes. Purchase Price Shares Purchased 2027 Note Hedge $ 194,994 3,016,680
Schedule of warrants details of convertible senior notes	Proceeds Shares Strike Price First Expiration 2027 Warrants $ 124,269 3,016,680 $ 338.86 March 15, 2028

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of operational goals	The tranches will vest upon certification by the Compensation Committee of the Board of Directors upon achievement of three independent vesting conditions, described in the following table: Operational Goals (1) (in millions) Stock Price Minimum Service Requirement Tranche Revenue Adj. EBITDA Employee XSP CEO Award Goal Expiration 1 $ 1,834 or $ 393 and $ 247.40 and June 2025 December 2028 December 31, 2026 2 2,293 or 508 and 309.25 and December 2025 December 2028 December 31, 2027 3 2,866 or 655 and 386.56 and June 2026 December 2029 December 31, 2028 4 3,583 or 845 and 483.20 and December 2026 December 2029 December 31, 2029 5 4,479 or 1,088 and 604.00 and June 2027 December 2030 December 31, 2030 6 5,599 or 1,400 and 755.00 and December 2027 December 2030 December 31, 2031 7 6,999 or 1,750 and 943.75 and June 2028 December 2030 December 31, 2032 (1) Operational goals are measured, as of any date, for the previous four consecutive fiscal quarters, beginning with the Company's first full fiscal quarter ending after the fiscal quarter in which the grant date occurred
Summary of restricted stock unit activity	The following table summarizes RSU activity for the nine months ended September 30, 2024 (number of units and aggregate intrinsic value in thousands): Number of Weighted Average Aggregate Units outstanding, beginning of year 1,615 $ 193.09 Granted 595 269.18 Released (488) 185.33 Forfeited (128) 202.01 Units outstanding, end of period 1,594 $ 223.16 $ 636,869
Summary of performance stock unit activity	The following table summarizes PSU activity for the nine months ended September 30, 2024 (number of units and aggregate intrinsic value in thousands): Number of Weighted Average Aggregate Units outstanding, beginning of year 394 $ 201.61 Granted 4,517 240.07 Released (11) 149.49 Forfeited (345) 232.01 Units outstanding, end of period 4,555 $ 237.57 $ 1,820,338
Schedule of share-based compensation	The following table summarizes the composition of stock-based compensation expense for the three and nine months ended September 30, 2024 and 2023 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of product sales and service sales $ 10,123 $ 1,687 $ 48,235 $ 4,685 Sales, general and administrative expenses 55,248 12,886 117,036 43,232 Research and development expenses 36,409 15,414 86,445 48,311 Total stock-based compensation expense $ 101,780 $ 29,987 $ 251,716 $ 96,228
Schedule of option activity	The following table summarizes stock option activity for the nine months ended September 30, 2024 (number of options and aggregate intrinsic value in thousands): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Aggregate Options outstanding, beginning of year 531 $ 28.58 Granted — — Exercised (350) 28.58 Expired / terminated — — Options outstanding and exercisable, end of period 181 $ 28.58 3.41 $ 67,085

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Summary of changes in accumulated other comprehensive income (loss), net of tax	The following tables reflect the changes in accumulated other comprehensive income (loss), net of tax (in thousands): Unrealized Gains (Losses) Foreign Currency Total Balance, December 31, 2023 $ (399) $ (10,280) $ (10,679) Other comprehensive loss (106) (801) (907) Balance, March 31, 2024 $ (505) $ (11,081) $ (11,586) Other comprehensive income (loss) 119 (2,727) (2,608) Balance, June 30, 2024 $ (386) $ (13,808) $ (14,194) Other comprehensive income 434 4,640 5,074 Balance, September 30, 2024 $ 48 $ (9,168) $ (9,120) Unrealized Gains (Losses) Foreign Currency Total Balance, December 31, 2022 $ (1,251) $ (5,928) $ (7,179) Other comprehensive income 184 1,676 1,860 Balance, March 31, 2023 $ (1,067) $ (4,252) $ (5,319) Other comprehensive loss (850) (557) (1,407) Balance, June 30, 2023 $ (1,917) $ (4,809) $ (6,726) Other comprehensive income (loss) 656 (6,799) (6,143) Balance, September 30, 2023 $ (1,261) $ (11,608) $ (12,869)

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Summary of operational information relative to the company's reportable segments	Information relative to our reportable segments was as follows (in thousands ): Three Months Ended September 30, 2024 2023 TASER segment net sales $ 221,734 $ 162,570 Software and Sensors segment net sales 322,540 250,708 Total consolidated net sales $ 544,274 $ 413,278 TASER adjusted gross margin $ 139,632 $ 102,151 Software and Sensors adjusted gross margin 204,258 157,147 Total segment adjusted gross margin $ 343,890 $ 259,298 Stock-based compensation expense 10,123 1,687 Amortization of acquired intangible assets 3,020 955 Gross margin $ 330,747 $ 256,656 Sales, general and administrative 192,189 122,357 Research and development 114,477 76,880 Interest income, net 10,978 10,458 Other income (loss), net 44,510 3,852 Income (loss) before provision for (benefit from) income taxes $ 79,569 $ 71,729 Nine Months Ended September 30, 2024 2023 TASER segment net sales $ 597,441 $ 452,167 Software and Sensors segment net sales 909,940 678,156 Total consolidated net sales $ 1,507,381 $ 1,130,323 TASER adjusted gross margin $ 374,072 $ 280,875 Software and Sensors adjusted gross margin 577,992 417,460 Total segment adjusted gross margin $ 952,064 $ 698,335 Stock-based compensation expense 48,235 4,685 Amortization of acquired intangible assets 8,298 2,189 Gross margin $ 895,531 $ 691,461 Sales, general and administrative 514,228 357,611 Research and development 307,008 219,747 Interest income, net 31,134 29,787 Other income (loss), net 191,510 (42,569) Income before provision for income taxes $ 296,939 $ 101,321

Revision of Prior Period Fina_2

Revision of Prior Period Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following tables reflect the impact of the revision to the specific line items presented in our previously reported (a) consolidated balance sheet as of December 31, 2023; (b) consolidated statements of operations and comprehensive income for the years ended December 31, 2023, December 31, 2022, and December 31, 2021, and for the quarterly periods ended June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023; (c) consolidated statements of cash flows for the years ended December 31, 2023 and December 31, 2022, and for the year to date periods ended June 30, 2024, March 31, 2024, September 30, 2023; and (d) consolidated statements of stockholder's equity for the quarterly periods ending December 31, 2022 through June 30, 2024. Consolidated Balance Sheet (in thousands) As of December 31, 2023 As Reported Revision As Revised Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023 $ 417,690 $ (4,729) $ 412,961 Contract assets, net 275,779 11,453 287,232 Prepaid expenses and other current assets 112,786 (9,731) 103,055 Total current assets 2,396,649 (3,007) 2,393,642 Deferred tax assets, net 229,513 (1,729) 227,784 Long-term contract assets, net 77,710 6,672 84,382 Other long-term assets 220,638 (29,607) 191,031 Total assets 3,436,845 (27,671) 3,409,174 Accounts payable 88,326 (22,474) 65,852 Accrued liabilities 188,230 5,320 193,550 Current portion of deferred revenue 491,691 (21,276) 470,415 Total current liabilities 799,969 (38,430) 761,539 Deferred revenue, net of current portion 281,852 (10,951) 270,901 Other long-term liabilities 2,936 17,979 20,915 Total liabilities 1,824,811 (31,402) 1,793,409 Retained earnings 431,249 3,731 434,980 Total stockholders’ equity 1,612,034 3,731 1,615,765 Total liabilities and stockholders’ equity $ 3,436,845 $ (27,671) $ 3,409,174 Consolidated Statements of Operations and Comprehensive Income (in thousands, except per share data) Three Months Ended June 30, 2024 As Reported Revision As Revised Net sales from products $ 295,185 $ (2,422) $ 292,763 Net sales from services 208,914 1,559 210,473 Net sales 504,099 (863) 503,236 Cost of product sales 145,154 (2,527) 142,627 Cost of service sales 55,210 (757) 54,453 Cost of sales 200,364 (3,284) 197,080 Gross margin 303,735 2,421 306,156 Sales, general and administrative 169,427 1,537 170,964 Total operating expenses 270,861 1,537 272,398 Income from operations 32,874 884 33,758 Income before provision for income taxes 50,590 884 51,474 Provision for (benefit from) income taxes 9,793 208 10,001 Net income $ 40,797 $ 676 $ 41,473 Net income per common and common equivalent shares - Basic $ 0.54 $ 0.01 $ 0.55 Comprehensive income $ 38,189 $ 676 $ 38,865 Six Months Ended June 30, 2024 As Reported Revision As Revised Net sales from products $ 567,233 $ (4,046) $ 563,187 Net sales from services 397,602 2,318 399,920 Net sales 964,835 (1,728) 963,107 Cost of product sales 296,852 (2,065) 294,787 Cost of service sales 104,202 (666) 103,536 Cost of sales 401,054 (2,731) 398,323 Gross margin 563,781 1,003 564,784 Sales, general and administrative 322,096 (57) 322,039 Total operating expenses 514,627 (57) 514,570 Income from operations 49,154 1,060 50,214 Income before provision for income taxes 216,310 1,060 217,370 Provision for (benefit from) income taxes 42,295 250 42,545 Net income $ 174,015 $ 810 $ 174,825 Net income per common and common equivalent shares - Basic $ 2.31 $ 0.01 $ 2.32 Net income per common and common equivalent shares - Diluted $ 2.25 $ 0.01 $ 2.26 Comprehensive income $ 170,500 $ 810 $ 171,310 Three Months Ended March 31, 2024 As Reported Revision As Revised Net sales from products $ 272,048 $ (1,624) $ 270,424 Net sales from services 188,688 759 189,447 Net sales 460,736 (865) 459,871 Cost of product sales 151,698 462 152,160 Cost of service sales 48,992 91 49,083 Cost of sales 200,690 553 201,243 Gross margin 260,046 (1,418) 258,628 Sales, general and administrative 152,669 (1,594) 151,075 Total operating expenses 243,766 (1,594) 242,172 Income from operations 16,280 176 16,456 Income before provision for income taxes 165,720 176 165,896 Provision for (benefit from) income taxes 32,502 42 32,544 Net income $ 133,218 $ 134 $ 133,352 Comprehensive income $ 132,311 $ 134 $ 132,445 Three Months Ended December 31, 2023 As Reported Revision As Revised Net sales from products $ 258,405 $ (1,966) $ 256,439 Net sales from services 173,737 200 173,937 Net sales 432,142 (1,766) 430,376 Cost of product sales 125,664 (1,764) 123,900 Cost of service sales 42,591 (107) 42,484 Cost of sales 168,255 (1,871) 166,384 Gross margin 263,887 105 263,992 Sales, general and administrative 137,106 167 137,273 Total operating expenses 221,078 167 221,245 Income from operations 42,809 (62) 42,747 Income before provision for income taxes 55,802 (62) 55,740 Provision for (benefit from) income taxes (1,469) 148 (1,321) Net income $ 57,271 $ (210) $ 57,061 Comprehensive income $ 59,461 $ (210) $ 59,251 Year Ended December 31, 2023 As Reported Revision As Revised Net sales from products $ 967,711 $ (3,709) $ 964,002 Net sales from services 595,680 1,017 596,697 Net sales 1,563,391 (2,692) 1,560,699 Cost of product sales 450,718 (3,010) 447,708 Cost of service sales 157,291 247 157,538 Cost of sales 608,009 (2,763) 605,246 Gross margin 955,382 71 955,453 Sales, general and administrative 496,874 (1,990) 494,884 Total operating expenses 800,593 (1,990) 798,603 Income from operations 154,789 2,061 156,850 Income before provision for income taxes 155,000 2,061 157,061 Provision for (benefit from) income taxes (19,227) 505 (18,722) Net income $ 174,227 $ 1,556 $ 175,783 Net income per common and common equivalent shares - Basic $ 2.35 $ 0.02 $ 2.37 Net income per common and common equivalent shares - Diluted $ 2.31 $ 0.02 $ 2.33 Comprehensive income $ 170,727 $ 1,556 $ 172,283 Three Months Ended September 30, 2023 As Reported Revision As Revised Net sales from products $ 256,443 $ (1,388) $ 255,055 Net sales from services 157,158 1,065 158,223 Net sales 413,601 (323) 413,278 Cost of product sales 116,278 (1,665) 114,613 Cost of service sales 42,051 (42) 42,009 Cost of sales 158,329 (1,707) 156,622 Gross margin 255,272 1,384 256,656 Sales, general and administrative 123,279 (922) 122,357 Total operating expenses 200,159 (922) 199,237 Income from operations 55,113 2,306 57,419 Income before provision for income taxes 69,423 2,306 71,729 Provision for (benefit from) income taxes 10,026 394 10,420 Net income $ 59,397 $ 1,912 $ 61,309 Net income per common and common equivalent shares - Basic $ 0.79 $ 0.03 $ 0.82 Net income per common and common equivalent shares - Diluted $ 0.78 $ 0.03 $ 0.81 Comprehensive income $ 53,254 $ 1,912 $ 55,166 Nine Months Ended September 30, 2023 As Reported Revision As Revised Net sales from products $ 709,306 $ (1,743) $ 707,563 Net sales from services 421,943 817 422,760 Net sales 1,131,249 (926) 1,130,323 Cost of product sales 325,054 (1,246) 323,808 Cost of service sales 114,700 354 115,054 Cost of sales 439,754 (892) 438,862 Gross margin 691,495 (34) 691,461 Sales, general and administrative 359,768 (2,157) 357,611 Total operating expenses 579,515 (2,157) 577,358 Income from operations 111,980 2,123 114,103 Income before provision for income taxes 99,198 2,123 101,321 Provision for (benefit from) income taxes (17,758) 357 (17,401) Net income $ 116,956 $ 1,766 $ 118,722 Net income per common and common equivalent shares - Basic $ 1.58 $ 0.03 $ 1.61 Net income per common and common equivalent shares - Diluted $ 1.56 $ 0.02 $ 1.58 Comprehensive income $ 111,266 $ 1,766 $ 113,032 Year Ended December 31, 2022 As Reported Revision As Revised Net sales from products $ 801,388 $ (4,211) $ 797,177 Net sales from services 388,547 1,419 389,966 Net sales 1,189,935 (2,792) 1,187,143 Cost of product sales 363,219 (2,310) 360,909 Cost of service sales 98,078 2,043 100,121 Cost of sales 461,297 (267) 461,030 Gross margin 728,638 (2,525) 726,113 Sales, general and administrative 401,575 (2,245) 399,330 Total operating expenses 635,385 (2,245) 633,140 Income from operations 93,253 (280) 92,973 Income before provision for income taxes 196,518 (280) 196,238 Provision for (benefit from) income taxes 49,379 (71) 49,308 Net income $ 147,139 $ (209) $ 146,930 Comprehensive income $ 141,277 $ (209) $ 141,068 There was no impact on disclosed income per common and common equivalent shares for the year ended December 31, 2022. Year Ended December 31, 2021 As Reported Revision As Revised Net sales from products $ 608,525 $ (1,629) $ 606,896 Net sales from services 254,856 3,886 258,742 Net sales 863,381 2,257 865,638 Cost of product sales 260,098 (2,452) 257,646 Cost of service sales 62,373 (103) 62,270 Cost of sales 322,471 (2,555) 319,916 Gross margin 540,910 4,812 545,722 Sales, general and administrative 515,007 (162) 514,845 Total operating expenses 709,033 (162) 708,871 Income from operations (168,123) 4,974 (163,149) Income before provision for income taxes (141,375) 4,974 (136,401) Provision for (benefit from) income taxes (81,357) 1,295 (80,062) Net income $ (60,018) $ 3,679 $ (56,339) Net income per common and common equivalent shares - Basic $ (0.91) $ 0.06 $ (0.85) Net income per common and common equivalent shares - Diluted $ (0.91) $ 0.06 $ (0.85) Comprehensive income $ (61,476) $ 3,679 $ (57,797) Consolidated Statements of Stockholders' Equity (in thousands) As Reported Revision As Revised Retained Earnings Total Retained Earnings Total Retained Earnings Total Balance, December 31, 2022 $ 257,022 $ 1,268,491 $ 2,175 $ 2,175 $ 259,197 $ 1,270,666 Net income 45,139 45,139 760 760 45,899 45,899 Balance, March 31, 2023 $ 302,161 $ 1,402,995 $ 2,935 $ 2,935 $ 305,096 $ 1,405,930 Net income 12,420 12,420 (906) (906) 11,514 11,514 Balance, June 30, 2023 $ 314,581 $ 1,444,998 $ 2,029 $ 2,029 $ 316,610 $ 1,447,027 Net income 59,397 59,397 1,912 1,912 61,309 61,309 Balance, September 30, 2023 $ 373,978 $ 1,521,117 $ 3,941 $ 3,941 $ 377,919 $ 1,525,058 Net income 57,271 57,271 (210) (210) 57,061 57,061 Balance, December 31, 2023 $ 431,249 $ 1,612,034 $ 3,731 $ 3,731 $ 434,980 $ 1,615,765 Net income 133,218 133,218 134 134 133,352 133,352 Balance, March 31, 2024 $ 564,467 $ 1,818,015 $ 3,865 $ 3,865 $ 568,332 $ 1,821,880 Net income 40,797 40,797 676 676 41,473 41,473 Balance, June 30, 2024 $ 605,264 $ 1,928,840 $ 4,541 $ 4,541 $ 609,805 $ 1,933,381 Consolidated Statements of Cash Flows (in thousands) Six Months Ended June 30, 2024 As Reported Revision As Revised Cash flows from operating activities: Net income $ 174,015 $ 810 $ 174,825 Provision for bad debts and inventory 2,241 8,843 11,084 Change in assets and liabilities: Receivables and contract assets (60,513) (16,579) (77,092) Inventory (8,116) (8,843) (16,959) Deferred revenue (12,067) 3,568 (8,499) Accounts payable, accrued and other liabilities (43,071) (461) (43,532) Other - net (4,252) 12,662 8,410 Three Months Ended March 31, 2024 As Reported Revision As Revised Cash flows from operating activities: Net income $ 133,218 $ 134 $ 133,352 Provision for bad debts and inventory 216 1,364 1,580 Change in assets and liabilities: Receivables and contract assets (51,132) (5,605) (56,737) Inventory (710) (1,364) (2,074) Deferred revenue 20,743 (1,622) 19,121 Accounts payable, accrued and other liabilities (84,289) (1,551) (85,840) Other - net 2 8,644 8,646 Year Ended December 31, 2023 As Reported Revision As Revised Cash flows from operating activities: Net income $ 174,227 $ 1,556 $ 175,783 Deferred income taxes (73,002) 505 (72,497) Provision for bad debts and inventory 1,090 4,394 5,484 Change in assets and liabilities: Receivables and contract assets (172,524) (6,465) (178,989) Inventory (71,896) (5,730) (77,626) Deferred revenue 164,043 (17,224) 146,819 Accounts payable, accrued and other liabilities 64,384 945 65,329 Other - net (102,370) 22,019 (80,351) Nine Months Ended September 30, 2023 As Reported Revision As Revised Cash flows from operating activities: Net income $ 116,956 $ 1,766 $ 118,722 Deferred income taxes (53,311) 356 (52,955) Provision for bad debts and inventory 887 4,196 5,083 Change in assets and liabilities: Receivables and contract assets (182,468) (4,146) (186,614) Inventory (59,564) (5,532) (65,096) Deferred revenue 118,294 (14,908) 103,386 Accounts payable, accrued and other liabilities 13,423 (56) 13,367 Other - net (64,608) 18,324 (46,284) Year Ended December 31, 2022 As Reported Revision As Revised Cash flows from operating activities: Net income $ 147,139 $ (209) $ 146,930 Deferred income taxes 22,090 (71) 22,019 Provision for bad debts and inventory 699 2 701 Change in assets and liabilities: Receivables and contract assets (73,228) (4,998) (78,226) Inventory (95,987) 976 (95,011) Deferred revenue 159,718 (4,152) 155,566 Accounts payable, accrued and other liabilities 80,757 221 80,978 Other - net (52,207) 8,231 (43,976)

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies - Narrative (Details) $ in Millions		9 Months Ended
	May 10, 2024 tranche	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022
Summary Of Significant Accounting Policy [Line Items]
Warranty period		1 year
Cash surrender value of corporate-owned life insurance policies		$ 8.6	$ 7.6
Restricted cash balance		2.3	$ 2.1
Restricted cash including prepaid expenses and current assets		$ 2.2
Performance Based Restricted Stock Unit | 2024 Employee XSP
Summary Of Significant Accounting Policy [Line Items]
Number of award tranches | tranche	7
2027 Notes
Summary Of Significant Accounting Policy [Line Items]
Interest rate (as a percent)		0.50%		0.50%

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies - Weighted Average Number of Shares Outstanding and Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator for basic and diluted earnings per share:
Net income	$ 67,025	$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 174,825	$ 241,850	$ 118,722	$ 175,783	$ 146,930	$ (56,339)
Denominator:
Weighted average shares outstanding (in shares)	75,697,000				74,826,000				75,543,000	73,904,000
Dilutive effect of stock-based awards (in shares)	1,317,000				1,126,000				1,298,000	1,308,000
Dilutive effect of 2027 Notes (in shares)	1,015,000				0				773,000	0
Dilutive effect of 2027 Warrants (in shares)	51,000				0				0	0
Diluted weighted average shares outstanding (in shares)	78,080,000				75,952,000				77,614,000	75,212,000
Net income per common and common equivalent shares:
Basic (in dollars per share)	$ 0.89	$ 0.55			$ 0.82			$ 2.32	$ 3.20	$ 1.61	$ 2.37		$ (0.85)
Diluted (in dollars per share)	$ 0.86				$ 0.81			$ 2.26	$ 3.12	$ 1.58	$ 2.33

Organization and Summary of S_6

Organization and Summary of Significant Accounting Policies - Antidilutive Securities Excluded From Computation of EPS (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	9,542	6,515	9,881	6,504
Stock-based awards
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	4,574	481	4,620	470
2027 Notes
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	2,002	3,017	2,244	3,017
2027 Warrants
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	2,966	3,017	3,017	3,017

Organization and Summary of S_7

Organization and Summary of Significant Accounting Policies - Summary of Changes in Estimated Warranty Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Movement in Standard and Extended Product Warranty
Balance, beginning of period	$ 7,374	$ 811
Utilization of reserve	(5,007)	(901)
Warranty expense	4,860	3,381
Balance, end of period	$ 7,227	$ 3,291

Revenues - Revenues by Products

Revenues - Revenues by Products and Service Offerings (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 544,274	$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 963,107	$ 1,507,381	$ 1,130,323	$ 1,560,699	$ 1,187,143	$ 865,638
TASER Devices (Professional)
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	130,515				86,718		333,815	239,165
Cartridges
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	60,179				54,279		181,792	149,504
Axon Evidence and Cloud Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	217,342				160,493		610,519	426,856
Extended Warranties
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	27,035				22,124		75,815	63,657
Axon Body Cameras and Accessories
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	70,363				52,488		180,592	124,066
Axon Fleet Systems
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	23,239				27,336		79,620	99,015
Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	15,601				9,840		45,228	28,060
TASER
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	221,734				162,570		597,441	452,167
TASER | TASER Devices (Professional)
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	130,515				86,718		333,815	239,165
TASER | Cartridges
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	60,179				54,279		181,792	149,504
TASER | Axon Evidence and Cloud Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	13,861				8,975		40,297	25,575
TASER | Extended Warranties
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	9,729				8,078		27,164	23,463
TASER | Axon Body Cameras and Accessories
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	0				0		0	0
TASER | Axon Fleet Systems
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	0				0		0	0
TASER | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	7,450				4,520		14,373	14,460
Software and Sensors
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	322,540				250,708		909,940	678,156
Software and Sensors | TASER Devices (Professional)
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	0				0		0	0
Software and Sensors | Cartridges
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	0				0		0	0
Software and Sensors | Axon Evidence and Cloud Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	203,481				151,518		570,222	401,281
Software and Sensors | Extended Warranties
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	17,306				14,046		48,651	40,194
Software and Sensors | Axon Body Cameras and Accessories
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	70,363				52,488		180,592	124,066
Software and Sensors | Axon Fleet Systems
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	23,239				27,336		79,620	99,015
Software and Sensors | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 8,151				$ 5,320		$ 30,855	$ 13,600

Revenues - Revenues By Geograph

Revenues - Revenues By Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 544,274	$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 963,107	$ 1,507,381	$ 1,130,323	$ 1,560,699	$ 1,187,143	$ 865,638
United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	482,596				341,767		1,298,775	954,023
Other countries
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 61,678				$ 71,511		$ 208,606	$ 176,300
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (as a percentage)	100%				100%		100%	100%
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | United States
Disaggregation of Revenue [Line Items]
Concentration risk (as a percentage)	89%				83%		86%	84%
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | Other countries
Disaggregation of Revenue [Line Items]
Concentration risk (as a percentage)	11%				17%		14%	16%

Revenues - Contract Assets, Con

Revenues - Contract Assets, Contract Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets, net	$ 492,896
Contract liabilities (deferred revenue)	810,422	$ 741,316
Revenue recognized in the period from:
Amounts included in contract liabilities at the beginning of the period	$ 432,411

Revenues - Summary of Deferred

Revenues - Summary of Deferred Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Current	$ 505,008	$ 470,415
Long-Term	305,414	270,901
Total	810,422	741,316
TASER
Disaggregation of Revenue [Line Items]
Current	67,615	58,343
Long-Term	56,040	52,500
Total	123,655	110,843
Software and Sensors
Disaggregation of Revenue [Line Items]
Current	437,393	412,072
Long-Term	249,374	218,401
Total	686,767	630,473
Extended Warranty
Disaggregation of Revenue [Line Items]
Current	36,083	37,308
Long-Term	26,911	26,993
Total	62,994	64,301
Extended Warranty | TASER
Disaggregation of Revenue [Line Items]
Current	15,783	14,666
Long-Term	18,162	18,828
Total	33,945	33,494
Extended Warranty | Software and Sensors
Disaggregation of Revenue [Line Items]
Current	20,300	22,642
Long-Term	8,749	8,165
Total	29,049	30,807
Hardware
Disaggregation of Revenue [Line Items]
Current	108,389	99,144
Long-Term	168,842	146,713
Total	277,231	245,857
Hardware | TASER
Disaggregation of Revenue [Line Items]
Current	43,322	35,845
Long-Term	32,737	29,689
Total	76,059	65,534
Hardware | Software and Sensors
Disaggregation of Revenue [Line Items]
Current	65,067	63,299
Long-Term	136,105	117,024
Total	201,172	180,323
Services
Disaggregation of Revenue [Line Items]
Current	360,536	333,963
Long-Term	109,661	97,195
Total	470,197	431,158
Services | TASER
Disaggregation of Revenue [Line Items]
Current	8,510	7,832
Long-Term	5,141	3,983
Total	13,651	11,815
Services | Software and Sensors
Disaggregation of Revenue [Line Items]
Current	352,026	326,131
Long-Term	104,520	93,212
Total	$ 456,546	$ 419,343

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligations (Details) $ in Billions	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 7.7
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation to be recognized in the next twelve months (as a percentage)	15%
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation to be recognized in the next twelve months (as a percentage)	25%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	10 years

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments - Schedule Of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Restricted Cash and Cash Equivalents Items [Line Items]
Cash	$ 85,256	$ 406,743
Amortized Cost	1,096,692	1,333,022
Gross Unrealized Gains	61,602	158
Gross Unrealized Losses	(20)	(12,641)
Fair Value	1,158,274	1,320,539
Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Cash	85,256	406,743
Fair Value	695,144	598,545
Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Cash	0	0
Fair Value	151,560	77,940
Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Cash	0	0
Fair Value	311,570	644,054
Level 1
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	891,826	700,337
Gross Unrealized Gains	61,602	150
Gross Unrealized Losses	(20)	(12,471)
Fair Value	953,408	688,016
Level 1 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	591,688	191,802
Level 1 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	151,560	77,940
Level 1 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	210,160	418,274
Level 2
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	119,610	225,942
Gross Unrealized Gains	0	8
Gross Unrealized Losses	0	(170)
Fair Value	119,610	225,780
Level 2 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	18,200	0
Level 2 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Level 2 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	101,410	225,780
Money market funds | Level 1
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	438,408	1,470
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	438,408	1,470
Money market funds | Level 1 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	438,408	1,470
Money market funds | Level 1 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Money market funds | Level 1 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
U.S. government | Level 1
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	140,758	238,747
Gross Unrealized Gains	23	120
Gross Unrealized Losses	(5)	(237)
Fair Value	140,776	238,630
U.S. government | Level 1 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
U.S. government | Level 1 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
U.S. government | Level 1 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	140,776	238,630
Marketable securities | Level 1
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	90,000	90,000
Gross Unrealized Gains	61,560	0
Gross Unrealized Losses	0	(12,060)
Fair Value	151,560	77,940
Marketable securities | Level 1 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Marketable securities | Level 1 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	151,560	77,940
Marketable securities | Level 1 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Treasury bills | Level 1
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	117,880	148,063
Gross Unrealized Gains	19	28
Gross Unrealized Losses	(2)	0
Fair Value	117,897	148,091
Treasury bills | Level 1 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	48,513	88,697
Treasury bills | Level 1 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Treasury bills | Level 1 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	69,384	59,394
Agency bonds | Level 1
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	104,780	222,057
Gross Unrealized Gains	0	2
Gross Unrealized Losses	(13)	(174)
Fair Value	104,767	221,885
Agency bonds | Level 1 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	104,767	101,635
Agency bonds | Level 1 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Agency bonds | Level 1 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	120,250
Term deposits | Level 2
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	119,610	128,205
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	119,610	128,205
Term deposits | Level 2 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	18,200	0
Term deposits | Level 2 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Term deposits | Level 2 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	$ 101,410	128,205
Corporate bonds | Level 2
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost		80,646
Gross Unrealized Gains		8
Gross Unrealized Losses		(165)
Fair Value		80,489
Corporate bonds | Level 2 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		0
Corporate bonds | Level 2 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		0
Corporate bonds | Level 2 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		80,489
Treasury inflation-protected securities | Level 2
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost		2,635
Gross Unrealized Gains		0
Gross Unrealized Losses		(5)
Fair Value		2,630
Treasury inflation-protected securities | Level 2 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		0
Treasury inflation-protected securities | Level 2 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		0
Treasury inflation-protected securities | Level 2 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		2,630
Commercial paper | Level 2
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost		14,456
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		14,456
Commercial paper | Level 2 | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		0
Commercial paper | Level 2 | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		0
Commercial paper | Level 2 | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value		$ 14,456

Cash, Cash Equivalents and In_4

Cash, Cash Equivalents and Investments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Debt securities in continuous loss position	$ 159.7		$ 159.7		$ 420.4
Securities in unrealized loss position for 12 months or longer					138.8
Continuous unrealized loss position of available-for-sale investments, gross unrealized losses					$ 0.3
Marketable securities, unrealized gain	$ 44	$ 4.1	$ 73.6	$ 29.6

Expected Credit Losses (Details

Expected Credit Losses (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 3,966
Provision for expected credit losses	2,822
Amounts written off charged against the allowance	(784)
Other, including foreign currency translation	14
Balance, end of period	6,018
United States
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	3,369
Provision for expected credit losses	2,606
Amounts written off charged against the allowance	(700)
Other, including foreign currency translation	0
Balance, end of period	5,275
Other countries
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	597
Provision for expected credit losses	216
Amounts written off charged against the allowance	(84)
Other, including foreign currency translation	14
Balance, end of period	$ 743

Expected Credit Losses - Type O

Expected Credit Losses - Type Of Customer Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Credit Loss [Abstract]
Accounts receivable and notes receivable, current	$ 3,292	$ 2,392
Contract assets, net	2,678	1,516
Long-term notes receivable, net of current portion	48	44
Other current liabilities	0	14
Total allowance for expected credit losses on customer receivables	$ 6,018	$ 3,966

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 100,526	$ 104,112
Finished goods	171,769	165,743
Total inventory	$ 272,295	$ 269,855

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Changes in carrying amount of goodwill
Balance, beginning of period	$ 57,945
Goodwill acquired	250,653
Purchase accounting adjustments	(364)
Foreign currency translation adjustments	238
Balance, end of period	308,472
TASER
Changes in carrying amount of goodwill
Balance, beginning of period	2,984
Goodwill acquired	0
Purchase accounting adjustments	0
Foreign currency translation adjustments	(14)
Balance, end of period	2,970
Software and Sensors
Changes in carrying amount of goodwill
Balance, beginning of period	54,961
Goodwill acquired	250,653
Purchase accounting adjustments	(364)
Foreign currency translation adjustments	252
Balance, end of period	$ 305,502

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Definite-Lived Intangible Assets Other than Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Intangible Assets
Gross Carrying Amount	$ 110,456	$ 42,978
Accumulated Amortization	(30,430)	(25,282)
Total	80,026	17,696
Indefinite-Lived Intangible Assets [Line Items]
Total non-amortizable intangible assets	1,722	1,843
Intangible assets, Gross Carrying Amount	112,178	44,821
Intangible assets, Net Carrying Amount	81,748	19,539
Trademarks
Indefinite-Lived Intangible Assets [Line Items]
Total non-amortizable intangible assets	1,068	1,068
Patents and trademarks pending
Indefinite-Lived Intangible Assets [Line Items]
Total non-amortizable intangible assets	654	775
Developed technology
Intangible Assets
Gross Carrying Amount	82,531	29,402
Accumulated Amortization	(21,478)	(16,562)
Total	$ 61,053	12,840
Developed technology | Minimum
Intangible Assets
Useful Life	3 years
Developed technology | Maximum
Intangible Assets
Useful Life	8 years
Customer relationships
Intangible Assets
Gross Carrying Amount	$ 18,649	5,530
Accumulated Amortization	(3,730)	(3,620)
Total	$ 14,919	1,910
Customer relationships | Minimum
Intangible Assets
Useful Life	4 years
Customer relationships | Maximum
Intangible Assets
Useful Life	10 years
Trademarks
Intangible Assets
Gross Carrying Amount	$ 3,214	1,333
Accumulated Amortization	(1,312)	(817)
Total	$ 1,902	516
Trademarks | Minimum
Intangible Assets
Useful Life	3 years
Trademarks | Maximum
Intangible Assets
Useful Life	15 years
Issued patents
Intangible Assets
Gross Carrying Amount	$ 3,019	3,222
Accumulated Amortization	(1,553)	(1,707)
Total	$ 1,466	1,515
Issued patents | Minimum
Intangible Assets
Useful Life	5 years
Issued patents | Maximum
Intangible Assets
Useful Life	25 years
Domain names
Intangible Assets
Gross Carrying Amount	$ 3,043	3,043
Accumulated Amortization	(2,357)	(2,128)
Total	$ 686	915
Domain names | Minimum
Intangible Assets
Useful Life	3 years
Domain names | Maximum
Intangible Assets
Useful Life	10 years
Non-compete agreements
Intangible Assets
Gross Carrying Amount	$ 0	448
Accumulated Amortization	0	(448)
Total	$ 0	$ 0
Non-compete agreements | Minimum
Intangible Assets
Useful Life	3 years
Non-compete agreements | Maximum
Intangible Assets
Useful Life	4 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 3.8	$ 1.3	$ 10.7	$ 3.2

Goodwill and Intangible asset_5

Goodwill and Intangible assets - Estimated Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2024 remaining	$ 3,840
2025	12,536
2026	12,341
2027	11,400
2028	11,289
2029	11,105
Thereafter	17,515
Total	$ 80,026	$ 17,696

Strategic Investments - Schedul

Strategic Investments - Schedule Of Roll-Forward Of Strategic Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		57 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024
Strategic Investments
Balance, beginning of period	$ 363,134	$ 233,637	$ 231,730	$ 296,563	$ 246,903
Investments	24,322	5,275	100,950	16,192
Fair value adjustments:
Realized gains			45,183	0	57,495
Realized losses			(2,870)	0	(2,870)
Unrealized gains	449	0	76,225	0	180,115
Unrealized losses and impairments	0	(113)	0	(73,956)	(84,009)
Exercises	0	1,500	(63,313)	1,500	4,817
Balance, end of period	387,905	240,299	387,905	240,299	387,905
Equity investments
Strategic Investments
Balance, beginning of period	340,108	215,945	212,996	277,676	217,948
Investments	24,322	4,099	93,450	15,016
Fair value adjustments:
Realized gains			45,162	0	57,474
Realized losses			0	0	0
Unrealized gains	0	0	74,784	0	149,601
Unrealized losses and impairments	0	0	0	(72,648)	(82,304)
Exercises	0	1,500	(61,962)	1,500	36,257
Balance, end of period	364,430	221,544	364,430	221,544	364,430
Warrants
Strategic Investments
Balance, beginning of period	2,356	459	1,501	1,654	4,222
Investments	0	1,176	0	1,176
Fair value adjustments:
Realized gains			0	0	0
Realized losses			0	0	0
Unrealized gains	0	0	855	0	29,928
Unrealized losses and impairments	0	(113)	0	(1,308)	(1,705)
Exercises	0	0	0	0	(30,089)
Balance, end of period	2,356	1,522	2,356	1,522	2,356
Call options
Strategic Investments
Balance, beginning of period	13,033	17,233	17,233	17,233	17,233
Investments	0	0	0	0
Fair value adjustments:
Realized gains			21	0	21
Realized losses			(2,870)	0	(2,870)
Unrealized gains	0	0	0	0	0
Unrealized losses and impairments	0	0	0	0	0
Exercises	0	0	(1,351)	0	(1,351)
Balance, end of period	13,033	$ 17,233	13,033	$ 17,233	13,033
Debt investments
Strategic Investments
Balance, beginning of period	7,637		0		7,500
Investments	0		7,500
Fair value adjustments:
Realized gains			0		0
Realized losses			0		0
Unrealized gains	449		586		586
Unrealized losses and impairments	0		0		0
Exercises	0		0		0
Balance, end of period	$ 8,086		$ 8,086		$ 8,086

Strategic Investments - Narrati

Strategic Investments - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Jan. 31, 2024	Sep. 30, 2024
Equity Securities without Readily Determinable Fair Value [Line Items]
Gain on acquisition	$ 42.3
Strategic investments and warrants
Equity Securities without Readily Determinable Fair Value [Line Items]
Unrealized gain on investments		$ 75.6
Debt investments
Equity Securities without Readily Determinable Fair Value [Line Items]
Debt security strategic investment, unrealized gain		$ 0.6
Acquisition 1
Equity Securities without Readily Determinable Fair Value [Line Items]
Fair value	$ 63.3

Strategic Investments - Sched_2

Strategic Investments - Schedule Of Debt Security Strategic Investment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		57 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024
Strategic Investments
Balance, beginning of period	$ 363,134	$ 233,637	$ 231,730	$ 296,563	$ 246,903
Realized gains			45,183	0	57,495
Realized losses			(2,870)	0	(2,870)
Unrealized gains	449	0	76,225	0	180,115
Unrealized losses and impairments	0	(113)	0	(73,956)	(84,009)
Exercises	0	1,500	(63,313)	1,500	4,817
Sales					(14,546)
Balance, end of period	387,905	240,299	387,905	240,299	387,905
Equity investments
Strategic Investments
Balance, beginning of period	340,108	215,945	212,996	277,676	217,948
Realized gains			45,162	0	57,474
Realized losses			0	0	0
Unrealized gains	0	0	74,784	0	149,601
Unrealized losses and impairments	0	0	0	(72,648)	(82,304)
Exercises	0	1,500	(61,962)	1,500	36,257
Sales					(14,546)
Balance, end of period	364,430	221,544	364,430	221,544	364,430
Warrants
Strategic Investments
Balance, beginning of period	2,356	459	1,501	1,654	4,222
Realized gains			0	0	0
Realized losses			0	0	0
Unrealized gains	0	0	855	0	29,928
Unrealized losses and impairments	0	(113)	0	(1,308)	(1,705)
Exercises	0	0	0	0	(30,089)
Sales					0
Balance, end of period	2,356	1,522	2,356	1,522	2,356
Call options
Strategic Investments
Balance, beginning of period	13,033	17,233	17,233	17,233	17,233
Realized gains			21	0	21
Realized losses			(2,870)	0	(2,870)
Unrealized gains	0	0	0	0	0
Unrealized losses and impairments	0	0	0	0	0
Exercises	0	0	(1,351)	0	(1,351)
Sales					0
Balance, end of period	13,033	$ 17,233	13,033	$ 17,233	13,033
Debt investments
Strategic Investments
Balance, beginning of period	7,637		0		7,500
Realized gains			0		0
Realized losses			0		0
Unrealized gains	449		586		586
Unrealized losses and impairments	0		0		0
Exercises	0		0		0
Sales					0
Balance, end of period	$ 8,086		$ 8,086		$ 8,086

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Total unconsolidated variable interest entities:
Carrying value of variable interest - assets	$ 4,005,658	$ 3,409,174
Variable Interest Entity, Not Primary Beneficiary
Total unconsolidated variable interest entities:
Carrying value of variable interest - assets	$ 28,073	$ 4,986

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued salaries, commissions, benefits and bonus	$ 103,566	$ 125,636
Accrued income and other taxes	27,911	5,784
Accrued inventory in transit	11,428	12,197
Accrued professional, consulting and lobbying fees	10,870	7,377
Accrued warranty expense	7,227	7,374	$ 3,291	$ 811
Other accrued expenses	48,689	35,182
Accrued liabilities	$ 209,691	$ 193,550

Convertible Senior Notes - Narr

Convertible Senior Notes - Narrative (Details) - 2027 Notes - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Senior Convertible Notes
Aggregate principal amount	$ 690,000	$ 690,000	$ 690,000
Additional principal amount purchase option			$ 90,000
Interest rate (as a percent)	0.50%		0.50%
Effective interest rate			0.99%
Repurchase price (as percentage)	100%

Convertible Senior Notes - Net

Convertible Senior Notes - Net carrying amount (Details) - 2027 Notes - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Senior Convertible Notes
Principal	$ 690,000	$ 690,000	$ 690,000
Unamortized debt issuance costs	(10,517)	(12,887)
Convertible notes carrying amount, net	$ 679,483	$ 677,113

Convertible Senior Notes - Esti

Convertible Senior Notes - Estimated Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
2027 Notes
Senior Convertible Notes
Fair value of notes	$ 1,239.8	$ 873.3

Convertible Senior Notes - Inte

Convertible Senior Notes - Interest Expense (Details) - 2027 Note Hedge - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Senior Convertible Notes
Contractual interest expense	$ 862	$ 863	$ 2,588	$ 2,588
Amortization of debt issuance costs	803	797	2,368	2,328
Total interest expense	$ 1,665	$ 1,660	$ 4,956	$ 4,916

Convertible Senior Notes - Hedg

Convertible Senior Notes - Hedge (Details) - Sep. 30, 2024 - 2027 Note Hedge	USD ($)	instrument	security
Senior Convertible Notes
Purchase Price	$ 194,994
Shares Purchased		3,016,680	3,016,680

Convertible Senior Notes - Warr

Convertible Senior Notes - Warrants (Details) - 2027 Warrant	9 Months Ended
	Sep. 30, 2024 USD ($) $ / security shares
Senior Convertible Notes
Proceeds | $	$ 124,269
Shares (in shares) | shares	3,016,680
Strike Price (in dollars per share) | $ / security	338.86
Warrants exercise trading day period	60 days

Income Taxes (Details)

Income Taxes (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Income Tax Disclosure [Abstract]
Deferred tax assets, net	$ 244.3
Liability for unrecognized tax benefits	27.4
Research and development tax credit studies	$ 6.8
Effective tax rate (as a percentage)	18.60%
Effective tax rate, estimate before discrete adjustments (as a percentage)	23.30%
Discrete tax benefit, stock-based compensation	$ 13

Stockholders' Equity - 2024 eXp

Stockholders' Equity - 2024 eXponential Stock Plan and 2024 CEO Performance Award (Details) - 2024 Employee XSP $ in Millions		9 Months Ended
	May 10, 2024 tranche condition shares	Sep. 30, 2024 USD ($)
eXponential Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share of Common stock (in shares)	4,500,000
XSUs granted | $		$ 3.8
Number of award tranches | tranche	7
Independent vesting conditions | condition	3
2024 CEO Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	679,102
Risk-free interest rate, minimum		4.30%
Risk-free interest rate, maximum		4.50%
Expected volatility, minimum		41.40%
Expected volatility, maximum		41.50%
Expected life of options		8 years 7 months 6 days
Expected dividend yield (as percentage)		0%
Expected volatility (as percentage)		41.40%

Stockholders' Equity - Operatio

Stockholders' Equity - Operational Goals (Details) - USD ($) $ / shares in Units, $ in Millions	May 10, 2024	Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Price Goal (in dollars per share)		$ 399.60
2024 XSUs | 2024 Employee XSP | Tranche 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue	$ 1,834
Adj. EBITDA	$ 393
Stock Price Goal (in dollars per share)	$ 247.40
2024 XSUs | 2024 Employee XSP | Tranche 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue	$ 2,293
Adj. EBITDA	$ 508
Stock Price Goal (in dollars per share)	$ 309.25
2024 XSUs | 2024 Employee XSP | Tranche 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue	$ 2,866
Adj. EBITDA	$ 655
Stock Price Goal (in dollars per share)	$ 386.56
2024 XSUs | 2024 Employee XSP | Tranche 4
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue	$ 3,583
Adj. EBITDA	$ 845
Stock Price Goal (in dollars per share)	$ 483.20
2024 XSUs | 2024 Employee XSP | Tranche 5
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue	$ 4,479
Adj. EBITDA	$ 1,088
Stock Price Goal (in dollars per share)	$ 604
2024 XSUs | 2024 Employee XSP | Tranche 6
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue	$ 5,599
Adj. EBITDA	$ 1,400
Stock Price Goal (in dollars per share)	$ 755
2024 XSUs | 2024 Employee XSP | Tranche 7
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue	$ 6,999
Adj. EBITDA	$ 1,750
Stock Price Goal (in dollars per share)	$ 943.75

Stockholders' Equity - Summary

Stockholders' Equity - Summary of RSU and PSU Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Restricted Stock Units
Number of Units
Number of Units outstanding, beginning of year (in shares) | shares	1,615
Granted (in shares) | shares	595
Released (in shares) | shares	(488)
Forfeited (in shares) | shares	(128)
Number of Units outstanding, end of period (in shares) | shares	1,594
Weighted Average Grant-Date Fair Value
Units outstanding, beginning of year (in dollars per share) | $ / shares	$ 193.09
Granted (in dollars per share) | $ / shares	269.18
Released (in dollars per share) | $ / shares	185.33
Forfeited (in dollars per share) | $ / shares	202.01
Units outstanding, end of period (in dollars per share) | $ / shares	$ 223.16
Aggregate Intrinsic Value | $	$ 636,869
Performance Stock Units
Number of Units
Number of Units outstanding, beginning of year (in shares) | shares	394
Granted (in shares) | shares	4,517
Released (in shares) | shares	(11)
Forfeited (in shares) | shares	(345)
Number of Units outstanding, end of period (in shares) | shares	4,555
Weighted Average Grant-Date Fair Value
Units outstanding, beginning of year (in dollars per share) | $ / shares	$ 201.61
Granted (in dollars per share) | $ / shares	240.07
Released (in dollars per share) | $ / shares	149.49
Forfeited (in dollars per share) | $ / shares	232.01
Units outstanding, end of period (in dollars per share) | $ / shares	$ 237.57
Aggregate Intrinsic Value | $	$ 1,820,338

Stockholders' Equity - RSU, PSU

Stockholders' Equity - RSU, PSU and Stock Option Activity - Additional Information (Details) $ / shares in Units, $ in Thousands, shares in Millions		3 Months Ended		9 Months Ended
	Jan. 02, 2024 installment shares	Sep. 30, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share) | $ / shares		$ 399.60		$ 399.60
Stock based compensation expense		$ 10,123	$ 1,687	$ 48,235	$ 4,685
Number of shares sold to cover expenses | shares				0.2
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		252,700		$ 252,700
Weighted average period over which costs are recognized				2 years 2 months 12 days
Number of shares granted to employees | shares	0.4
Number of annual vesting installments | installment	5
Stock based compensation expense				$ 38,300
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		585,000		$ 585,000
Weighted average period over which costs are recognized				3 years 8 months 12 days
2024 Employee XSP | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 579,500		$ 579,500

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024
Number of Options
Options outstanding, beginning of year (in shares)	531,000
Granted (in shares)	0
Stock options exercised (in shares)	(350,000)
Expired/terminated (in shares)	0
Options outstanding, end of period (in shares)	181,000
Options exercisable, end of period (in shares)	181,000
Weighted Average Exercise Price
Options outstanding, beginning of year (in dollars per share)	$ 28.58
Granted (in dollars per share)	0
Exercised (in dollars per share)	28.58
Expired/terminated (in dollars per share)	0
Options outstanding, end of period (in dollars per share)	28.58
Options exercisable, end of period (in dollars per share)	$ 28.58
Options outstanding, Weighted Average Remaining Contractual Life (years)	3 years 4 months 28 days
Options exercisable, Weighted Average Remaining Contractual Life (years)	3 years 4 months 28 days
Options outstanding, Aggregate Intrinsic Value	$ 67,085
Options exercisable, Aggregate Intrinsic Value	$ 67,085

Stockholders' Equity - Reported

Stockholders' Equity - Reported Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 101,780	$ 29,987	$ 251,716	$ 96,228
Cost of product sales and service sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	10,123	1,687	48,235	4,685
Sales, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	55,248	12,886	117,036	43,232
Research and development expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 36,409	$ 15,414	$ 86,445	$ 48,311

Stockholders' Equity - Stock In

Stockholders' Equity - Stock Incentive and Repurchase Plan - Additional Information (Details) - 2022 Stock Incentive Plan - shares shares in Millions	Sep. 30, 2024	May 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)		2.2
Shares available for grant (in shares)	3.7

Stockholders' Equity - At-the-M

Stockholders' Equity - At-the-Market equity offering - Additional Information (Details) - ATM Equity Offering shares in Millions	9 Months Ended
	Sep. 30, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common stock shares to be sold (in shares)	2
Number of shares remaining to be sold	2
Issuance of common stock (in shares)	0

Line of Credit (Details)

Line of Credit (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Dec. 31, 2022	Sep. 30, 2024
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Line of Credit
Debt Instrument [Line Items]
Total availability under line of credit agreement	$ 30,000
Accordion feature allowing for increase in borrowing capacity	300,000
Line of credit borrowings		$ 0
Letters of credit outstanding amount		$ 8,200
Line of Credit | Minimum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate (as a percentage)		1.25%
Line of Credit | Maximum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate (as a percentage)		1.75%
Senior Unsecured Multi Currency Revolving Credit Facility
Debt Instrument [Line Items]
Total availability under line of credit agreement	$ 200,000
Letter of Credit | 2027 Notes
Debt Instrument [Line Items]
Maturity, prior to stated maturity of convertible senior notes	6 months

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) lawsuit
Loss Contingencies [Line Items]
Number of lawsuits against Company | lawsuit	1
Amount self-insured for any product claim	$ 5
Line of Credit
Loss Contingencies [Line Items]
Letters of credit outstanding amount	8.2
Surety Bond
Loss Contingencies [Line Items]
Outstanding amount	13.6
Expiring In Two Thousand Twenty Four | Surety Bond
Loss Contingencies [Line Items]
Letters of credit outstanding amount	8.2
Another Credit Facility | Line of Credit
Loss Contingencies [Line Items]
Letters of credit outstanding amount	$ 0.1
Pending Litigation
Loss Contingencies [Line Items]
Number of lawsuits against Company | lawsuit	2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Accumulated other comprehensive income (loss):
Beginning balance	$ 1,933,381	$ 1,821,880	$ 1,615,765	$ 1,447,027	$ 1,405,930	$ 1,270,666
Other comprehensive (loss) income	5,074	(2,608)	(907)	(6,143)	(1,407)	1,860
Ending balance	2,099,836	1,933,381	1,821,880	1,525,058	1,447,027	1,405,930
Accumulated Other Comprehensive Loss
Accumulated other comprehensive income (loss):
Beginning balance	(14,194)	(11,586)	(10,679)	(6,726)	(5,319)	(7,179)
Other comprehensive (loss) income	5,074	(2,608)	(907)	(6,143)	(1,407)	1,860
Ending balance	(9,120)	(14,194)	(11,586)	(12,869)	(6,726)	(5,319)
Unrealized Gains (Losses) on Available-for-Sale Investments
Accumulated other comprehensive income (loss):
Beginning balance	(386)	(505)	(399)	(1,917)	(1,067)	(1,251)
Other comprehensive (loss) income	434	119	(106)	656	(850)	184
Ending balance	48	(386)	(505)	(1,261)	(1,917)	(1,067)
Foreign Currency Translation
Accumulated other comprehensive income (loss):
Beginning balance	(13,808)	(11,081)	(10,280)	(4,809)	(4,252)	(5,928)
Other comprehensive (loss) income	4,640	(2,727)	(801)	(6,799)	(557)	1,676
Ending balance	$ (9,168)	$ (13,808)	$ (11,081)	$ (11,608)	$ (4,809)	$ (4,252)

Segment Data (Details)

Segment Data (Details) $ in Thousands	3 Months Ended					6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments of company | segment							2
Net sales	$ 544,274	$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 963,107	$ 1,507,381	$ 1,130,323	$ 1,560,699	$ 1,187,143	$ 865,638
Consolidated adjusted gross margin	343,890				259,298		952,064	698,335
Stock based compensation expense	10,123				1,687		48,235	4,685
Amortization of acquired intangible assets	3,020				955		8,298	2,189
Gross margin	330,747	306,156	258,628	263,992	256,656	564,784	895,531	691,461	955,453	726,113	545,722
Sales, general and administrative	192,189	170,964	151,075	137,273	122,357	322,039	514,228	357,611	494,884	399,330	514,845
Research and development	114,477				76,880		307,008	219,747
Interest income, net	10,978				10,458		31,134	29,787
Other income (loss), net	44,510				3,852		191,510	(42,569)
Income before provision for income taxes	79,569	$ 51,474	$ 165,896	$ 55,740	71,729	$ 217,370	296,939	101,321	$ 157,061	$ 196,238	$ (136,401)
TASER
Segment Reporting Information [Line Items]
Net sales	221,734				162,570		597,441	452,167
Consolidated adjusted gross margin	139,632				102,151		374,072	280,875
Software and Sensors
Segment Reporting Information [Line Items]
Net sales	322,540				250,708		909,940	678,156
Consolidated adjusted gross margin	$ 204,258				$ 157,147		$ 577,992	$ 417,460

Business Acquisitions (Details)

Business Acquisitions (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 31, 2024	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition
Transaction costs		$ 300	$ 4,600
Gain on acquisition	$ 42,300
Goodwill	250,100	$ 308,472	$ 308,472	$ 57,945
Identifiable intangible assets	72,900
Other net liabilities	$ 7,800
Intangible assets, weighted average useful life			7 years 6 months
Fusus, LLC.
Business Acquisition
Remaining interest acquired	79.70%
Consideration	$ 241,300
Ownership interest	20.30%
Fair value	$ 63,300
Business Acquisitions
Business Acquisition
Deferred tax liability	$ 10,500

Subsequent Events (Details)

Subsequent Events (Details) - Dedrone Holdings, Inc. - Subsequent Event $ in Millions	1 Months Ended
	Oct. 31, 2024 USD ($)
Subsequent Event [Line Items]
Consideration	$ 400
Remaining interest acquired	20%
Transaction costs	$ 7.5

Revision of Prior Period Fina_3

Revision of Prior Period Financial Statements - Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Reclassification [Line Items]
Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023	$ 512,662			$ 412,961
Contract assets, net	372,923			287,232
Prepaid expenses and other current assets	117,592			103,055
Total current assets	2,433,746			2,393,642
Deferred tax assets, net	244,317			227,784
Long-term contract assets, net	119,973			84,382
Other long-term assets	190,718			191,031
Total assets	4,005,658			3,409,174
Accounts payable	75,590			65,852
Accrued liabilities	209,691			193,550
Current portion of deferred revenue	505,008			470,415
Total current liabilities	823,227			761,539
Deferred revenue, net of current portion	305,414			270,901
Other long-term liabilities	20,528			20,915
Total liabilities	1,905,822			1,793,409
Retained earnings	676,830			434,980
Total stockholders’ equity	2,099,836	$ 1,933,381	$ 1,821,880	1,615,765	$ 1,525,058	$ 1,447,027	$ 1,405,930	$ 1,270,666
Total liabilities and stockholders’ equity	4,005,658			3,409,174
Accounts receivable and notes receivable, current	$ 3,292			2,392
As Reported
Reclassification [Line Items]
Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023				417,690
Contract assets, net				275,779
Prepaid expenses and other current assets				112,786
Total current assets				2,396,649
Deferred tax assets, net				229,513
Long-term contract assets, net				77,710
Other long-term assets				220,638
Total assets				3,436,845
Accounts payable				88,326
Accrued liabilities				188,230
Current portion of deferred revenue				491,691
Total current liabilities				799,969
Deferred revenue, net of current portion				281,852
Other long-term liabilities				2,936
Total liabilities				1,824,811
Retained earnings				431,249
Total stockholders’ equity		1,928,840	1,818,015	1,612,034	1,521,117	1,444,998	1,402,995	1,268,491
Total liabilities and stockholders’ equity				3,436,845
Revision
Reclassification [Line Items]
Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023				(4,729)
Contract assets, net				11,453
Prepaid expenses and other current assets				(9,731)
Total current assets				(3,007)
Deferred tax assets, net				(1,729)
Long-term contract assets, net				6,672
Other long-term assets				(29,607)
Total assets				(27,671)
Accounts payable				(22,474)
Accrued liabilities				5,320
Current portion of deferred revenue				(21,276)
Total current liabilities				(38,430)
Deferred revenue, net of current portion				(10,951)
Other long-term liabilities				17,979
Total liabilities				(31,402)
Retained earnings				3,731
Total stockholders’ equity		$ 4,541	$ 3,865	3,731	$ 3,941	$ 2,029	$ 2,935	$ 2,175
Total liabilities and stockholders’ equity				$ (27,671)

Revision of Prior Period Fina_4

Revision of Prior Period Financial Statements - Statements of Operations and Comprehensive Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales	$ 544,274	$ 503,236	$ 459,871	$ 430,376	$ 413,278			$ 963,107	$ 1,507,381	$ 1,130,323	$ 1,560,699	$ 1,187,143	$ 865,638
Cost of sales	213,527	197,080	201,243	166,384	156,622			398,323	611,850	438,862	605,246	461,030	319,916
Gross margin	330,747	306,156	258,628	263,992	256,656			564,784	895,531	691,461	955,453	726,113	545,722
Sales, general and administrative	192,189	170,964	151,075	137,273	122,357			322,039	514,228	357,611	494,884	399,330	514,845
Total operating expenses	306,666	272,398	242,172	221,245	199,237			514,570	821,236	577,358	798,603	633,140	708,871
Income from operations	24,081	33,758	16,456	42,747	57,419			50,214	74,295	114,103	156,850	92,973	(163,149)
Income before provision for income taxes	79,569	51,474	165,896	55,740	71,729			217,370	296,939	101,321	157,061	196,238	(136,401)
Provision for (benefit from) income taxes	12,544	10,001	32,544	(1,321)	10,420			42,545	55,089	(17,401)	(18,722)	49,308	(80,062)
Net income	$ 67,025	$ 41,473	133,352	57,061	$ 61,309	$ 11,514	$ 45,899	$ 174,825	$ 241,850	$ 118,722	$ 175,783	146,930	$ (56,339)
Net income per common and common equivalent - Basic (in dollars per share)	$ 0.89	$ 0.55			$ 0.82			$ 2.32	$ 3.20	$ 1.61	$ 2.37		$ (0.85)
Net income per common and common equivalent - Diluted (in dollars per share)	$ 0.86				$ 0.81			$ 2.26	$ 3.12	$ 1.58	$ 2.33
Comprehensive income	$ 72,099	$ 38,865	132,445	59,251	$ 55,166			$ 171,310	$ 243,409	$ 113,032	$ 172,283	141,068
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		504,099	460,736	432,142	413,601			964,835		1,131,249	1,563,391	1,189,935	$ 863,381
Cost of sales		200,364	200,690	168,255	158,329			401,054		439,754	608,009	461,297	322,471
Gross margin		303,735	260,046	263,887	255,272			563,781		691,495	955,382	728,638	540,910
Sales, general and administrative		169,427	152,669	137,106	123,279			322,096		359,768	496,874	401,575	515,007
Total operating expenses		270,861	243,766	221,078	200,159			514,627		579,515	800,593	635,385	709,033
Income from operations		32,874	16,280	42,809	55,113			49,154		111,980	154,789	93,253	(168,123)
Income before provision for income taxes		50,590	165,720	55,802	69,423			216,310		99,198	155,000	196,518	(141,375)
Provision for (benefit from) income taxes		9,793	32,502	(1,469)	10,026			42,295		(17,758)	(19,227)	49,379	(81,357)
Net income		$ 40,797	133,218	57,271	$ 59,397	12,420	45,139	$ 174,015		$ 116,956	$ 174,227	147,139	$ (60,018)
Net income per common and common equivalent - Basic (in dollars per share)		$ 0.54			$ 0.79			$ 2.31		$ 1.58	$ 2.35		$ (0.91)
Net income per common and common equivalent - Diluted (in dollars per share)					$ 0.78			$ 2.25		$ 1.56	$ 2.31
Comprehensive income		$ 38,189	132,311	59,461	$ 53,254			$ 170,500		$ 111,266	$ 170,727	141,277
Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		(863)	(865)	(1,766)	(323)			(1,728)		(926)	(2,692)	(2,792)	$ 2,257
Cost of sales		(3,284)	553	(1,871)	(1,707)			(2,731)		(892)	(2,763)	(267)	(2,555)
Gross margin		2,421	(1,418)	105	1,384			1,003		(34)	71	(2,525)	4,812
Sales, general and administrative		1,537	(1,594)	167	(922)			(57)		(2,157)	(1,990)	(2,245)	(162)
Total operating expenses		1,537	(1,594)	167	(922)			(57)		(2,157)	(1,990)	(2,245)	(162)
Income from operations		884	176	(62)	2,306			1,060		2,123	2,061	(280)	4,974
Income before provision for income taxes		884	176	(62)	2,306			1,060		2,123	2,061	(280)	4,974
Provision for (benefit from) income taxes		208	42	148	394			250		357	505	(71)	1,295
Net income		$ 676	134	(210)	$ 1,912	$ (906)	$ 760	$ 810		$ 1,766	$ 1,556	(209)	$ 3,679
Net income per common and common equivalent - Basic (in dollars per share)		$ 0.01			$ 0.03			$ 0.01		$ 0.03	$ 0.02		$ 0.06
Net income per common and common equivalent - Diluted (in dollars per share)					$ 0.03			$ 0.01		$ 0.02	$ 0.02
Comprehensive income		$ 676	134	(210)	$ 1,912			$ 810		$ 1,766	$ 1,556	(209)
Products
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales	327,900	292,763	270,424	256,439	255,055			563,187	891,087	707,563	964,002	797,177	$ 606,896
Cost of sales	156,167	142,627	152,160	123,900	114,613			294,787	450,954	323,808	447,708	360,909	$ 257,646
Net income per common and common equivalent - Diluted (in dollars per share)													$ (0.85)
Products | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		295,185	272,048	258,405	256,443			567,233		709,306	967,711	801,388	$ 608,525
Cost of sales		145,154	151,698	125,664	116,278			296,852		325,054	450,718	363,219	$ 260,098
Net income per common and common equivalent - Diluted (in dollars per share)													$ (0.91)
Products | Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		(2,422)	(1,624)	(1,966)	(1,388)			(4,046)		(1,743)	(3,709)	(4,211)	$ (1,629)
Cost of sales		(2,527)	462	(1,764)	(1,665)			(2,065)		(1,246)	(3,010)	(2,310)	$ (2,452)
Net income per common and common equivalent - Diluted (in dollars per share)													$ 0.06
Services
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales	216,374	210,473	189,447	173,937	158,223			399,920	616,294	422,760	596,697	389,966	$ 258,742
Cost of sales	$ 57,360	54,453	49,083	42,484	42,009			103,536	$ 160,896	115,054	157,538	100,121	62,270
Comprehensive income													(57,797)
Services | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		208,914	188,688	173,737	157,158			397,602		421,943	595,680	388,547	254,856
Cost of sales		55,210	48,992	42,591	42,051			104,202		114,700	157,291	98,078	62,373
Comprehensive income													(61,476)
Services | Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales		1,559	759	200	1,065			2,318		817	1,017	1,419	3,886
Cost of sales		$ (757)	$ 91	$ (107)	$ (42)			$ (666)		$ 354	$ 247	$ 2,043	(103)
Comprehensive income													$ 3,679

Revision of Prior Period Fina_5

Revision of Prior Period Financial Statements - Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended							6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,933,381	$ 1,821,880	$ 1,615,765	$ 1,525,058	$ 1,447,027	$ 1,405,930	$ 1,270,666	$ 1,615,765	$ 1,615,765	$ 1,270,666	$ 1,270,666
Net income	67,025	41,473	133,352	57,061	61,309	11,514	45,899	174,825	241,850	118,722	175,783	$ 146,930	$ (56,339)
Ending balance	2,099,836	1,933,381	1,821,880	1,615,765	1,525,058	1,447,027	1,405,930	1,933,381	2,099,836	1,525,058	1,615,765	1,270,666
As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,928,840	1,818,015	1,612,034	1,521,117	1,444,998	1,402,995	1,268,491	1,612,034	1,612,034	1,268,491	1,268,491
Net income		40,797	133,218	57,271	59,397	12,420	45,139	174,015		116,956	174,227	147,139	(60,018)
Ending balance		1,928,840	1,818,015	1,612,034	1,521,117	1,444,998	1,402,995	1,928,840		1,521,117	1,612,034	1,268,491
Revision
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	4,541	3,865	3,731	3,941	2,029	2,935	2,175	3,731	3,731	2,175	2,175
Net income		676	134	(210)	1,912	(906)	760	810		1,766	1,556	(209)	$ 3,679
Ending balance		4,541	3,865	3,731	3,941	2,029	2,935	4,541		3,941	3,731	2,175
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	609,805	568,332	434,980	377,919	316,610	305,096	259,197	434,980	434,980	259,197	259,197
Net income	67,025	41,473	133,352	57,061	61,309	11,514	45,899
Ending balance	676,830	609,805	568,332	434,980	377,919	316,610	305,096	609,805	676,830	377,919	434,980	259,197
Retained Earnings | As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	605,264	564,467	431,249	373,978	314,581	302,161	257,022	431,249	431,249	257,022	257,022
Net income		40,797	133,218	57,271	59,397	12,420	45,139
Ending balance		605,264	564,467	431,249	373,978	314,581	302,161	605,264		373,978	431,249	257,022
Retained Earnings | Revision
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 4,541	3,865	3,731	3,941	2,029	2,935	2,175	3,731	$ 3,731	2,175	2,175
Net income		676	134	(210)	1,912	(906)	760
Ending balance		$ 4,541	$ 3,865	$ 3,731	$ 3,941	$ 2,029	$ 2,935	$ 4,541		$ 3,941	$ 3,731	$ 2,175

Revision of Prior Period Fina_6

Revision of Prior Period Financial Statements - Cash Flow Statement (Details) - USD ($) $ in Thousands	3 Months Ended							6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 67,025	$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 174,825	$ 241,850	$ 118,722	$ 175,783	$ 146,930	$ (56,339)
Deferred income taxes									(27,061)	(52,955)	(72,497)	22,019
Provision for bad debts and inventory			1,580					11,084	13,824	5,083	5,484	701
Change in assets and liabilities:
Receivables and contract assets			(56,737)					(77,092)	(226,759)	(186,614)	(178,989)	(78,226)
Inventory			(2,074)					(16,959)	(11,629)	(65,096)	(77,626)	(95,011)
Deferred revenue			19,121					(8,499)	56,720	103,386	146,819	155,566
Accounts payable, accrued and other liabilities			(85,840)					(43,532)	10,243	13,367	65,329	80,978
Other, net			8,646					8,410	$ (2,528)	(46,284)	(80,351)	(43,976)
As Reported
Cash flows from operating activities:
Net income		40,797	133,218	57,271	59,397	12,420	45,139	174,015		116,956	174,227	147,139	(60,018)
Deferred income taxes										(53,311)	(73,002)	22,090
Provision for bad debts and inventory			216					2,241		887	1,090	699
Change in assets and liabilities:
Receivables and contract assets			(51,132)					(60,513)		(182,468)	(172,524)	(73,228)
Inventory			(710)					(8,116)		(59,564)	(71,896)	(95,987)
Deferred revenue			20,743					(12,067)		118,294	164,043	159,718
Accounts payable, accrued and other liabilities			(84,289)					(43,071)		13,423	64,384	80,757
Other, net			2					(4,252)		(64,608)	(102,370)	(52,207)
Revision
Cash flows from operating activities:
Net income		$ 676	134	$ (210)	$ 1,912	$ (906)	$ 760	810		1,766	1,556	(209)	$ 3,679
Deferred income taxes										356	505	(71)
Provision for bad debts and inventory			1,364					8,843		4,196	4,394	2
Change in assets and liabilities:
Receivables and contract assets			(5,605)					(16,579)		(4,146)	(6,465)	(4,998)
Inventory			(1,364)					(8,843)		(5,532)	(5,730)	976
Deferred revenue			(1,622)					3,568		(14,908)	(17,224)	(4,152)
Accounts payable, accrued and other liabilities			(1,551)					(461)		(56)	945	221
Other, net			$ 8,644					$ 12,662		$ 18,324	$ 22,019	$ 8,231