Axon Enterprise (AXON) 10-K 28 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 24, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 per share
Trading Symbol	AXON
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	true
Entity Shell Company	false
Entity Public Float			$ 21.8
Entity Common Stock, Shares Outstanding		76,623,266
Documents Incorporated by Reference	Parts of the registrant’s definitive proxy statement for its 2025 Annual Meeting of Shareholders to be prepared and filed with the Securities and Exchange Commission not later than 120 days after December 31, 2024 are incorporated by reference into Part III of this Form 10-K .
Entity Central Index Key	0001069183
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Phoenix, Arizona

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 454,844	$ 598,545
Marketable securities	198,270	77,940
Short-term investments	333,235	644,054
Accounts and notes receivable, net of allowance of $3,322 and $2,392 as of December 31, 2024 and December 31, 2023, respectively	547,572	412,961
Contract assets, net	367,929	287,232
Inventory	265,316	269,855
Prepaid expenses and other current assets	130,315	103,055
Total current assets	2,297,481	2,393,642
Property and equipment, net	247,324	200,533
Deferred tax assets, net	304,282	227,784
Intangible assets, net	175,157	19,539
Goodwill	756,838	57,945
Long-term notes receivable, net	3,460	2,588
Long-term contract assets, net	119,876	84,382
Strategic investments	332,550	231,730
Other long-term assets	237,620	191,031
Total assets	4,474,588	3,409,174
Current liabilities:
Accounts payable	71,955	65,852
Accrued liabilities	279,193	193,550
Current portion of deferred revenue	612,955	470,415
Customer deposits	20,626	21,935
Other current liabilities	12,857	9,787
Total current liabilities	997,586	761,539
Deferred revenue, net of current portion	360,685	270,901
Liability for unrecognized tax benefits	25,007	18,049
Long-term deferred compensation	15,877	11,342
Long-term lease liabilities	41,383	33,550
Convertible notes, net	680,289	677,113
Other long-term liabilities	26,096	20,915
Total liabilities	2,146,923	1,793,409
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.00001 par value; 25,000,000 shares authorized; no shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	0	0
Common stock, $0.00001 par value; 200,000,000 shares authorized, 96,839,558 shares issued and 76,619,331 shares outstanding as of December 31, 2024, and 200,000,000 shares authorized, 95,521,651 shares issued and 75,301,424 shares outstanding as of December 31, 2023	1	1
Additional paid-in capital	1,689,781	1,347,410
Treasury stock at cost, 20,220,227 shares as of December 31, 2024 and December 31, 2023	(155,947)	(155,947)
Retained earnings	812,014	434,980
Accumulated other comprehensive loss	(18,184)	(10,679)
Total stockholders’ equity	2,327,665	1,615,765
Total liabilities and stockholders’ equity	$ 4,474,588	$ 3,409,174

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance on accounts receivable	$ 3,322,000	$ 2,392,000
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)	96,839,558	95,521,651
Common stock, shares outstanding (in shares)	76,619,331	75,301,424
Treasury stock, shares (in shares)	20,220,227	20,220,227

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 2,082,526	$ 1,560,699	$ 1,187,143
Cost of sales	841,146	605,246	461,030
Gross margin	1,241,380	955,453	726,113
Operating expenses:
Selling, general and administrative	741,247	494,884	399,330
Research and development	441,593	303,719	233,810
Total operating expenses	1,182,840	798,603	633,140
Income from operations	58,540	156,850	92,973
Interest income, net	36,595	42,112	4,294
Other income (loss), net	286,369	(41,901)	98,971
Income before provision for income taxes	381,504	157,061	196,238
Provision for (benefit from) income taxes	4,470	(18,722)	49,308
Net income	$ 377,034	$ 175,783	$ 146,930
Net income per common and common equivalent shares:
Basic (in dollars per share)	$ 4.98	$ 2.37	$ 2.07
Diluted (in dollars per share)	$ 4.80	$ 2.33	$ 2.03
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)	75,748	74,195	71,093
Diluted (in shares)	78,558	75,456	72,534
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 377,034	$ 175,783	$ 146,930
Foreign currency translation adjustments	(7,874)	(4,352)	(4,818)
Unrealized gain (loss) on available-for-sale investments	369	852	(1,044)
Comprehensive income	369,529	172,283	141,068
Net sales from products
Net sales	1,221,292	964,002	797,177
Cost of sales	618,136	447,708	360,909
Net sales from services
Net sales	861,234	596,697	389,966
Cost of sales	$ 223,010	$ 157,538	$ 100,121

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2021		70,896,856
Beginning balance at Dec. 31, 2021	$ 1,050,233	$ 1	$ 1,095,229	$ (155,947)	$ 112,267	$ (1,317)
Beginning balance (in shares) at Dec. 31, 2021				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	(74)		(74)
Issuance of common stock under employee plans, net (in shares)		566,780
Issuance of common stock under employee plans, net	(4,870)		(4,870)
Stock-based compensation	106,176		106,176
Issuance of common stock for business combination contingent consideration and related tax effects (in shares)		10,945
Tax benefit related to convertible note hedge	48,858		48,858
Purchase of convertible note hedge	(194,994)		(194,994)		0
Issuance of warrants	124,269		124,269			0
Net income	146,930				146,930
Other comprehensive (loss) income, net	(5,862)					(5,862)
Ending balance (in shares) at Dec. 31, 2022		71,474,581
Ending balance at Dec. 31, 2022	1,270,666	$ 1	1,174,594	$ (155,947)	259,197	(7,179)
Ending balance (in shares) at Dec. 31, 2022				20,220,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)		467,594
Issuance of common stock	94,705		94,705
Issuance of common stock under employee plans, net (in shares)		1,441,279
Issuance of common stock under employee plans, net	(107,894)		(107,894)
Stock-based compensation	131,358		131,358
Issuance of common stock for business combination contingent consideration and related tax effects (in shares)		10,944
Stock options exercised (in shares)		1,907,026
Stock options exercised	54,503		54,503
Issuance of common stock for business combination contingent consideration and related tax effects	144		144
Net income	175,783				175,783
Other comprehensive (loss) income, net	$ (3,500)					(3,500)
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)
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)		804,780
Issuance of common stock under employee plans, net	$ (58,178)		(58,178)
Stock-based compensation	382,604		382,604
Issuance of common stock for business combination contingent consideration and related tax effects (in shares)		3,127
Stock options exercised (in shares)		510,000
Stock options exercised	14,576		14,576
Issuance of common stock for business combination contingent consideration and related tax effects	498		498
Issuance of replacement awards in connection with business combinations	2,871		2,871
Net income	377,034				377,034
Other comprehensive (loss) income, net	$ (7,505)					(7,505)
Ending balance (in shares) at Dec. 31, 2024	76,619,331	76,619,331
Ending balance at Dec. 31, 2024	$ 2,327,665	$ 1	$ 1,689,781	$ (155,947)	$ 812,014	$ (18,184)
Ending balance (in shares) at Dec. 31, 2024	20,220,227			20,220,227

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 377,034	$ 175,783	$ 146,930
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation	382,604	131,358	106,176
(Gain) loss on strategic investments and marketable securities, net	(283,217)	41,785	(98,943)
Depreciation and amortization	48,425	19,315	23,116
Provision for bad debts and inventory	20,073	5,484	701
Deferred income taxes	(85,096)	(72,497)	22,019
Other noncash items	21,177	12,853	16,031
Change in assets and liabilities:
Receivables and contract assets	(245,842)	(178,989)	(78,226)
Inventory	607	(77,626)	(95,011)
Deferred revenue	155,641	146,819	155,566
Accounts payable, accrued and other liabilities	54,519	65,329	80,978
Prepaid expenses and other assets	(37,613)	(80,351)	(43,976)
Net cash provided by operating activities	408,312	189,263	235,361
Cash flows from investing activities:
Purchases of investments	(793,419)	(563,680)	(845,179)
Business combinations, net of cash acquired	(621,817)	(21,090)	(2,104)
Proceeds from call, maturity, and sale of investments	1,003,394	657,418	72,138
Purchases of property and equipment	(78,785)	(59,635)	(55,802)
Other, net	54	(537)	(20)
Net cash (used in) provided by investing activities	(490,573)	12,476	(830,967)
Cash flows from financing activities:
Net proceeds from equity offering	0	94,705	(74)
Proceeds from options exercised	14,576	54,503	0
Income and payroll tax payments for net-settled stock awards	(58,178)	(107,894)	(4,870)
Net proceeds from issuance of convertible senior notes	0	0	673,769
Proceeds from issuance of warrants	0	0	124,269
Purchase of convertible note hedge	0	0	(194,994)
Other, net	(1,835)	0	0
Net cash (used in) provided by financing activities	(45,437)	41,314	598,100
Effect of exchange rate changes on cash and cash equivalents	(6,209)	2,065	(3,380)
Net increase (decrease) in cash and cash equivalents	(133,907)	245,118	(886)
Cash and cash equivalents and restricted cash, beginning of period	600,670	355,552	356,438
Cash and cash equivalents and restricted cash, end of period	466,763	600,670	355,552
Supplemental disclosures:
Cash and cash equivalents	454,844	598,545	353,684
Restricted cash (Note 1)	11,919	2,125	1,868
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	466,763	600,670	355,552
Cash paid for interest	3,450	3,508	0
Cash paid for income taxes, net of refunds	67,845	64,492	10,508
Non-cash transactions
Property and equipment purchases in accounts payable and accrued liabilities	5,157	238	1,056
Non-cash equity issuances related to business combinations	$ 2,871	$ 0	$ 0

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 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 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 The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions in these consolidated financial statements include: • revenue recognition, • stock-based compensation, • business combinations, • 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. We believe that estimates used in the preparation of these 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 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. 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 correct the prior period amounts presented in these financial statements accordingly. Furthermore, 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 250, Accounting Changes and Error Corrections. Based on this assessment, we concluded that the error correction is not material to any previously issued interim or annual financial statements on either a quantitative or qualitative basis. A summary of the revisions to the previously reported financial information is included in Note 23 and Note 24. Out of Period Adjustment During the 2024 year-end close process, we identified immaterial errors in our previously issued financial statements related to accounting for certain contract terms and conditions in accordance with ASC 606. We assessed the materiality of the errors in combination with the errors described above 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 and concluded that the errors are not material, individually and in the aggrega te, to any previously issued financial statements and that the correction of this misstatement in 2024 was also not material to the current fiscal year on either a quantitative or qualitative basis. We corrected these errors as an out of period adjustment during the year ended December 31, 2024 with a decrease to revenue of $3.3 million and a decrease to net income of $2.3 million. These errors originated in prior years and were immaterial to each respective prior period. Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist of accounts and notes receivable, contract assets and cash. Historically, we have experienced an immaterial level of write-offs related to uncollectible accounts. We hold the majority of our cash and cash equivalents accounts at two depository institutions. As of December 31, 2024, the aggregate balances in such accounts were $376.8 million. Our balances with these two institutions regularly exceed Federal Deposit Insurance Corporation insured limits for domestic deposits and various deposit insurance programs in countries such as Australia, Belgium, Canada, Finland, France, Germany, Greece, India, Italy, the Netherlands, Spain, the United Kingdom and Vietnam. To manage the related credit exposure, management continually monitors the creditworthiness of the financial institutions where we have deposits. Major Customers and Suppliers No customer represented more than 10% of total net sales for the years ended December 31, 2024, 2023 or 2022. At December 31, 2024 and 2023, no customer represented more than 10% of the aggregate balance of accounts and notes receivable and contract assets. For additional details, refer to Note 2. 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, Thailand and the Republic of Korea. We may source from other countries as well. Although we currently obtain components from single source suppliers, we own substantially all injection-molded component tooling, designs and test fixtures used in production for all custom components. As a result, we believe we could obtain alternative suppliers in most cases. 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. Segment Information 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 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 provided to our Chief Executive Officer who is our chief operating decision maker (“CODM”). In deciding how to allocate resources and assess performance, the CODM reviews adjusted gross margin by operating segment, consolidated financials and revenue by major geography, and product and service lines. Specifically, the CODM reviews adjusted gross margin by segment to evaluate segment profitability, identify cost trends and make operational decisions to support our segments. Consolidated financials provide a holistic view of our overall financial health to guide capital allocation and entity wide decisions. Disaggregated views of revenue by major geography and product line support the evaluation of specific market and product performance to understand customer trends. There are no operating segments that are aggregated. Furthermore, there are no inter-segment sales. Assets and other expense items, such as research and development and selling, general, and administrative expenses, are not provided to the CODM by segment, as our CODM does not evaluate our operating segments using this discrete information. As such, these items are not relevant to adjusted gross margin leveraged by the CODM to assess segment performance. As a result, they are not disclosed by segment. We perform an analysis of our reportable segments at least annually. The vast majority of our long-lived assets, including property, plant and equipment and right-of-use lease assets are located within the United States. International long-lived assets are immaterial. Additionally, the majority of our revenues are generated within the United States. During the year ended December 31, 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, amortization of acquired intangible assets and inventory step-up amortization related to acquisitions. Each of the aforementioned components of our segment measure of profit and loss, adjusted gross margin, are included within other segment items. 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 years ended December 31, 2023 and 2022 to conform to the new presentati on. For additional details, refer to Note 20. Geographic Information The majority of our sales to international customers are transacted in foreign currencies and are attributed to each country based on the shipping address of the distributor or customer. For the years ended December 31, 2024, 2023 and 2022, no individual country outside the United States represented more than 10% of net sales. Substantially all of ou r assets are located in the United States. For additional details, refer to Note 2. Cash, Cash Equivalents and Investments We have cash, cash equivalents and investments, which at December 31, 2024 comprised cash, money market funds, commercial paper, corporate bonds, term deposits, U.S. government bonds, U.S. Treasury bills, and agency bonds. Cash equivalents and investments at December 31, 2023 also included U.S. Treasury inflation-protected securities. We place our cash and cash equivalents with high quality financial institutions. Although we deposit our cash with multiple financial institutions, our deposits regularly exceed federally insured limits. Cash and cash equivalents include funds on-hand and highly liquid investments purchased with initial maturity of three months or less. Short-term investments include securities with an expected maturity date within one year of the balance sheet date that do not meet the definition of a cash equivalent, and long-term investments are securities with an expected maturity date greater than one year and less than three years in accordance with our investment policy. We report available-for-sale investments at fair value as of each balance sheet date and record any unrealized gains or losses within accumulated other comprehensive loss as a component of stockholders’ equity. The cost of securities sold is determined on a specific identification basis, and realized gains and losses are included in other income (loss), net within the consolidated statements of operations. Income tax effects are released from accumulated other comprehensive loss for unrealized gains or losses when the gains or losses are realized and are taxed at the statutory rate based on jurisdiction of the underlying transaction. When the fair value is below the amortized cost of an available-for-sale investment, an estimate of expected credit losses is made. Credit losses are recognized through the use of an allowance for credit losses account in the consolidated balance sheets and subsequent improvements in expected credit losses are recognized as a reversal of an amount in the allowance account. If we have the intent to sell the security or it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis, then the allowance for the credit loss is written-off and the excess of the amortized cost basis of the asset over its fair value is recorded in the consolidated statements of operations. 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. There were no credit losses recorded on our investment portfolio during the years ended December 31, 2024, 2023, and 2022. Restricted Cash Restricted cash balances were $11.9 million and $2.1 million as of December 31, 2024 and 2023, respectively. This increase is primarily attributable to a payment held in escrow related to the potential construction of our headquarters building in Scottsdale, Arizona. Restricted cash also includes funds held in international bank accounts for various operating and financing activities. As of December 31, 2024, approximately $11.8 million was included in prepaid expenses and other current assets on our consolidated balance sheet, with the remainder in other long-term assets. Inventory Inventories are stated at the lower of cost or net realizable value, using a standard cost method which approximates the first-in, first-out method. Additional provisions are made to reduce excess, obsolete or slow-moving inventories to their net realizable value. These provisions are based on our 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. Raw materials include an immaterial amount of work-in-process inventory. Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Additions and improvements are capitalized, while ordinary maintenance and repair expenditures are charged to expense as incurred. Depreciation is calculated using the straight-line method over the estimated economic life. Software Development Costs We expense software development costs, including costs to develop software products or the software component of products and services to be marketed to external users, before technological feasibility of such products is reached. Software development costs also include costs to develop software programs to be used solely to meet our internal needs and applications. We capitalize development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the intended function. Additionally, we capitalize qualifying costs incurred for upgrades and enhancements to existing software that result in additional functionality. Costs related to preliminary project planning activities, post-implementation activities, maintenance and minor modifications are expensed as incurred. Internal-use software development costs are amortized on a straight-line basis over the estimated useful life of the software. We evaluate the useful lives of these assets on an annual basis and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Leases We determine if a contract contains a lease at inception. At commencement, lease contracts are evaluated for classification as an operating or finance lease. Operating lease right-of-use (“ROU”) assets and liabilities are recognized based on the present value of future minimum lease payments over the lease term at the commencement date. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Additionally, we use the portfolio approach in determining the discount rate used to present value lease payments. We give consideration to our 2027 Notes, line of credit, macroeconomic factors, as well as publicly available data for instruments with similar characteristics when estimating our incremental borrowing rates. The operating lease ROU asset also includes any lease payments made and initial direct costs incurred and excludes lease incentives. We have operating leases for office space, manufacturing and logistical functions. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. We do not have any material variable lease costs associated with our operating leases. For leases beginning on or after January 1, 2019, we account for lease components separately from non-lease components for all asset classes. Our operating leases have remaining terms of less than o ne to approximately 12 years, some of which include one or more options to renew for up to five years, and some of which include options to terminate the leases within one year. The exercise of lease renewal options is at our sole discretion and such options are included in ROU assets and liabilities for renewal periods that are reasonably certain of exercise. Certain of these lease agreements include stated rental payment escalations. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We may enter into sales-type finance leases as an alternative means to realize value for our body cameras and related accessories. For sales-type finance leases where we are the lessor, we recognize our selling profit on a gross basis at lease commencement within net sales from products and cost of product sales, respectively. Interest income is recognized over the lease term within interest income, net. The current and long-term portions of our investment in sales-type leases are included in prepaid expenses and other current assets and other long-term assets, respectively. Given the immateriality of our finance lease activity as of December 31, 2024, no further disclosure considerations related to finance leases are necessary. Valuation of Goodwill, Intangible 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 using the straight-line method over the estimated useful life. We do not amortize goodwill and intangible assets with indefinite useful lives; rather such assets are 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 intangible assets for impairment on an annual basis on December 31, 2024 and on an interim basis when certain events and circumstances exist. During the years ended December 31, 2024 and December 31, 2023, long-lived asset impairment charges were immaterial. During the year ended December 31, 2022, we recorded $5.3 million of impairment charges, the majority of which were related to the cease-use of a portion of our Seattle office. No impairment charges were recognized related to goodwill or intangible assets during the years ended December 31, 2024, 2023, and 2022. Customer Deposits We require deposits in advance of shipment for certain customer sales orders. Additionally, customers may elect to make deposits with us related to contracts for our products and services that were not executed as of the end of a reporting period. Customer deposits are included in other current liabilities in the consolidated balance sheets. Revenue Recognition, Receivables, Contract Assets, and Deferred Revenue We derive revenue from two primary sources: (1) the sale of physical products, including CEDs, Axon cameras, Axon Signal-enabled devices, corresponding hardware extended warranties, and related accessories such as Axon docks, cartridges and batteries, among others, and (2) subscriptions to our Axon Evidence digital evidence management SaaS offering (including data storage fees and other ancillary services), which includes varying levels of support. To a lesser extent, we also recognize revenue from training, professional services and other software and SaaS services. We apply the five-step model outlined in ASC 606. For additional discussion, refer to Note 2. We enter into contracts that can include various combinations of products and services, each of which is generally distinct and accounted for as a separate performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. For contracts with multiple performance obligations, we allocate the contract transaction price to each performance obligation using our estimate of the standalone selling price (“SSP”) of each distinct good or service in the contract. Revenues are recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Performance obligations to deliver products, including CEDs, Axon cameras and related accessories, such as docks, cartridges and batteries, are generally satisfied at the point in time we ship the product, as this is when the customer obtains control of the asset under our standard terms and conditions. In certain contracts with non-standard terms and conditions, these performance obligations may not be satisfied until delivery or formal customer acceptance occurs. Performance obligations to fulfill service-type extended warranties and provide our SaaS offerings, including Axon Evidence and other cloud services, are generally satisfied over time as the customer receives and consumes the benefits of these services over the stated service period. We determine the term of our arrangements based on identifying the contract with the customer. In certain of our arrangements, the customer may have termination rights. In these instances, we determine if there is a substantive penalty. For contracts with a substantive penalty, the accounting term will be the legal contract term, inclusive of the periods for which the customer termination rights exist. In these contracts with no substantive penalty, we also consider if the option for our customer to purchase additional goods or services represents an additional performance obligation in the form of a material right. While our products and services may be sold on a standalone basis, we generally combine our hardware products and services together and sell them to our customers in single transactions where the customer can make payments over a multi-year period. These sales may include payments for upfront hardware and services, as well as payments for hardware and services to be provided at a future date. Additionally, we offer customers the ability to purchase CED cartridges and certain services on an unlimited basis over the contractual term. Due to the nature of these arrangements whereby we are obligated to deliver products at the customer’s request, we account for these arrangements as stand-ready obligations, and recognize revenue ratably over the contract period. Cost of product sales is recognized when control of hardware products or accessories has transferred to the customer. We recognize shipping costs as an expense in cost of product sales when the control of hardware products or accessories has transferred to the customer. Sales tax collected on sales is netted against government remittances and, thus, recorded on a net basis. Payment terms and conditions vary by contract type and geography, but our standard terms are that payments are due within 30 days from the date of invoice. The timing of revenue recognition may differ from the timing of invoicing to customers. We generally have an unconditional right to consideration when we invoice our customers and record a receivable. We record a contract asset when revenue is recognized prior to invoicing, or a contract liability (deferred revenue) when revenue will be recognized subsequent to invoicing. Contract asset amounts that will be invoiced during the subsequent 12-month period from the balance sheet date are classified as current assets and the remaining portion is recorded within other long-term assets on our consolidated balance sheets. Deferred revenue that is expected to be recognized during the subsequent 12-month period from the balance sheet date is recorded as current deferred revenue and the remaining portion is recorded as long-term deferred revenue. Generally, customers are billed in annual installments. Contract assets generally result from our subscription programs where we satisfy a hardware performance obligation upon shipment to the customer, and the right to the portion of the transaction price allocated to that hardware performance obligation is conditional on our future performance of a SaaS service obligation under the contract. We recognize a portion of the amount allocated to hardware products shipped to the customer as accounts receivable when invoiced to the customer, and record the remaining allocated value as a contract asset as we have generally fulfilled our hardware performance obligation upon shipment. Unbilled accounts receivable expected to be invoiced and collected within 12 mo nths were $5.6 million as o f December 31, 2024, and were included in accounts and notes receivable, net on our consolidated balance sheet. Contract liabilities generally consist of deferred revenue on our subscription programs where we generally invoice customers at the beginning of each annual contract period and record a receivable at the time of invoicing when there is an unconditional right to consideration. Deferred revenue is composed mainly of unearned revenue related to our Axon Evidence SaaS platform, secure cloud-based storage, service-type extended warranties, stand-ready obligations in our cartridge programs, and rights to future CED, Axon camera and related accessories hardware in our subscription programs. For additional discussion, refer to Note 2. Reserve for Expected Credit Losses Sales are typically made on credit, and we generally do not require collateral. 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. We review receivables for U.S. and international customers separately to better reflect different published credit default rates and economic and market conditions. Additionally, specific reserve 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. Accounts and notes receivable, contract assets and off-balance-sheet exposures are presented net of a reserve for expected credit losses, which totaled $5.6 million and $4.0 million as of December 31, 2024 and 2023, respectively. This reserve represents our best estimate and application of judgment considering a number of factors, including those listed above. In the event that actual uncollectible amounts differ from our estimates, additional expense could be necessary. For additional discussion, refer to Note 4. Deferred Commissions We recognize an asset for the incremental costs of obtaining a contract with a customer, which consist primarily of sales commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract and amortized consistent with the expected recognition timing of the revenue for the underlying performance obligations. For contract costs related to performance obligations with an amortization period of one year or less, we apply the practical expedient to expense these sales commissions when incurred. These costs are recognized as incurred within SG&A expenses in the consolidated statements of operations and comprehensive income. For additional discussion, refer to Note 2. Cost of Product and Service Sales Cost of product sales represents manufacturing costs consisting of materials, labor and overhead related to finished goods and components. Shipping costs incurred related to product delivery are also included in cost of products sold. Cost of service sales includes third-party cloud services, software maintenance and support costs – including personnel costs, associated with supporting Evidence.com and other software related services. Advertising Costs We expense advertising costs in the period in which they are incurred. We incurred advertising costs of $4.4 million, $1.9 million and $2.3 million in the years ended December 31, 2024, 2023 and 2022, respectively. Advertising costs are included within SG&A expenses in the consolidated statements of operations. Warranty Reserves We warranty our 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 our 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 sales when the costs become probable and can be reasonably estimated. Changes in our estimated warranty reserve were as follows (in thousands): Year Ended December 31, 2024 2023 2022 Balance, beginning of period $ 7,374 $ 811 $ 2,822 Utilization of reserve (5,992) (1,499) (2,209) Adjustment to reserve due to business combinations 1,311 — — Warranty expense 5,591 8,062 198 Balance, end of period $ 8,284 $ 7,374 $ 811 Research and Development Expenses We expense as incurred R&D costs that do not meet the qualifications to be capitalized. R&D costs include payroll costs and stock-based compensation for the personnel involved in R&D functions, as well as indirect manufacturing costs and supplies, consulting services and internal infrastructure costs incurred in connection with product research and development. We incurred R&D expense of $441.6 million, $303.7 million and $233.8 million in 2024, 2023 and 2022, respectively. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement amounts of assets and liabilities and their respective tax bases, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are me

Revenues

Revenues	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Nature of Products and Services The following table presents our revenues by primary product and service offering and reportable segment (in thousands): Year Ended December 31, 2024 Year Ended December 31, 2023 TASER Software and Total TASER Software and Total TASER Devices (Professional) $ 453,055 $ — $ 453,055 $ 333,923 $ — $ 333,923 Cartridges 246,766 — 246,766 193,285 — 193,285 Axon Evidence and Cloud Services 54,913 808,256 863,169 35,680 566,003 601,683 Extended Warranties 37,515 66,141 103,656 31,689 55,154 86,843 Axon Body Cameras and Accessories — 246,855 246,855 — 183,023 183,023 Axon Fleet Systems — 104,890 104,890 — 121,842 121,842 Other (1) (2) 26,424 37,711 64,135 18,933 21,167 40,100 Total $ 818,673 $ 1,263,853 $ 2,082,526 $ 613,510 $ 947,189 $ 1,560,699 Year Ended December 31, 2022 TASER Software and Total TASER Devices (Professional) $ 282,698 $ — $ 282,698 Cartridges 181,686 — 181,686 Axon Evidence and Cloud Services 18,182 367,852 386,034 Extended Warranties 29,056 45,507 74,563 Axon Body Cameras and Accessories — 157,281 157,281 Axon Fleet Systems — 63,017 63,017 Other (1) (2) 19,422 22,442 41,864 Total $ 531,044 $ 656,099 $ 1,187,143 (1) TASER segment “Other” includes smaller categories, such as 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, partners' contra-revenue and other sensors and equipment. The following table presents our revenues disaggregated by geography (in thousands): Year Ended December 31, 2024 2023 2022 United States $ 1,775,194 85 % $ 1,335,516 86 % $ 985,183 83 % Other countries 307,332 15 225,183 14 201,960 17 Total $ 2,082,526 100 % $ 1,560,699 100 % $ 1,187,143 100 % Contract Balances The following table presents our contract assets, contract liabilities and certain information related to these balances as of and for the year ended December 31, 2024 (in thousands): Year Ended December 31, 2024 2023 2022 Contract assets, net $ 487,805 $ 371,614 $ 249,001 Contract liabilities (deferred revenue) 973,640 741,316 593,038 Revenue recognized in the period from: Amounts included in contract liabilities at the beginning of the period 499,727 357,979 258,063 During the year ended December 31, 2024, our contract assets balance increased by $116.2 million, or 31.3%, due to increased sales under subscription plans. Contract liabilities increased $232.3 million, or 31.3%, for the year ended December 31, 2024 due to acquisitions and increased subscription invoicing for Software and Sensors hardware and services in advance of fulfilling performance obligations to customers. Contract liabilities (deferred revenue) consisted of the following (in thousands): December 31, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total Warranty: TASER $ 16,107 $ 19,288 $ 35,395 $ 14,666 $ 18,828 $ 33,494 Software and Sensors 36,842 19,706 56,548 22,642 8,165 30,807 52,949 38,994 91,943 37,308 26,993 64,301 Hardware: TASER 49,195 35,116 84,311 35,845 29,689 65,534 Software and Sensors 89,992 144,191 234,183 63,299 117,024 180,323 139,187 179,307 318,494 99,144 146,713 245,857 Services: TASER 9,635 6,134 15,769 7,832 3,983 11,815 Software and Sensors 411,184 136,250 547,434 326,131 93,212 419,343 420,819 142,384 563,203 333,963 97,195 431,158 Total $ 612,955 $ 360,685 $ 973,640 $ 470,415 $ 270,901 $ 741,316 December 31, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total TASER $ 74,937 $ 60,538 $ 135,475 $ 58,343 $ 52,500 $ 110,843 Software and Sensors 538,018 300,147 838,165 412,072 218,401 630,473 Total $ 612,955 $ 360,685 $ 973,640 $ 470,415 $ 270,901 $ 741,316 Remaining Performance Obligations As of December 31, 2024, we had approximately $7.9 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 December 31, 2024. We currently expect to recognize between approximately 20% - 25% of this balance over the next 12 months, and 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. Costs to Obtain a Contract We recognize an asset for the incremental costs of obtaining a contract with a customer, which consist primarily of sales commissions. As of December 31, 2024, our assets for costs to obtain contracts were as follows (in thousands): December 31, 2024 December 31, 2023 Current deferred commissions (1) $ 59,025 $ 46,224 Deferred commissions, net of current portion (2) 154,894 119,084 $ 213,919 $ 165,308 (1) Current deferred commissions are included within prepaid expenses and other current assets on the consolidated balance sheets. (2) Deferred commissions, net of current portion, are included in other long-term assets on the consolidated balance sheets. During the years ended December 31, 2024, 2023 and 2022, we recognized $50.8 million, $34.1 million, and $24.4 million, respectively, of amortization related to deferred commissions. These costs are recorded within SG&A expenses in the consolidated statements of operations and comprehensive income (loss). Significant Judgments Our contracts with certain municipal government customers may be subject to budget appropriation, other contract cancellation clauses or optional renewal periods. In contracts where the customer’s performance is subject to budget appropriation clauses, we generally consider the likelihood of non-appropriation to be remote when determining the contract term and transaction price. Contracts with other cancellation provisions or optional periods may require judgment in determining the contract term, including the existence of substantive termination penalties, determining transaction price and identifying the performance obligations. At times, customers may request changes that either amend, replace or cancel existing contracts. Judgment is required to determine whether the specific facts and circumstances within the contracts require the changes to be accounted for as a separate contract or as a modification. Generally, contract modifications containing additional goods and services that are determined to be distinct and sold at their SSP are accounted for as a separate contract. For contract modifications where both criteria are not met, the original contract is updated and the required adjustments to revenue and contract assets, liabilities and other accounts are made accordingly. Our contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately rather than together may require significant judgment. We consider CED devices and related accessories, as well as Axon cameras and related accessories, to be separately identifiable from each other as well as from extended warranties on these products and the SaaS subscriptions to Axon Evidence and other cloud services. In contracts where there are timing differences between when we transfer a promised good or service to the customer and when the customer pays for that good or service, we assess whether there is any implied financing within the transaction, and if so, recognize related interest income, or expense, on the transaction. The amount of imputed interest is immaterial for the years ended December 31, 2024, 2023 and 2022. Judgment is required to determine the SSP for each distinct performance obligation. We analyze stand-alone sales of our products and services as a basis for estimating the SSP of our products and services and then use that SSP as the basis for allocating the transaction price when our products and services are sold together in a contract with multiple performance obligations. In instances where the SSP is not directly observable, such as when we do not sell the product or service separately, we determine the SSP using information that may include cost plus margin, market comparisons and other observable inputs.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	12 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments The following table summarizes our cash, cash equivalents, marketable securities and available-for-sale investments at December 31, 2024 (in thousands): As of December 31, 2024 Amortized Gross Gross Fair Value Cash and Marketable Short-Term Cash $ 94,919 $ — $ — $ 94,919 $ 94,919 $ — $ — Level 1: Money market funds 322,874 — — 322,874 322,874 — — Agency bonds 996 — — 996 — — 996 U.S. Government bonds 75,994 7 (5) 75,996 — — 75,996 U.S. Treasury bills 14,431 25 — 14,456 — — 14,456 Marketable securities 90,000 108,270 — 198,270 — 198,270 — Subtotal 504,295 108,302 (5) 612,592 322,874 198,270 91,448 Level 2: Term deposits 136,480 — — 136,480 11,480 — 125,000 Corporate bonds 122,018 10 (63) 121,965 24,075 — 97,890 Commercial paper 20,393 — — 20,393 1,496 — 18,897 Subtotal 278,891 10 (63) 278,838 37,051 — 241,787 Total $ 878,105 $ 108,312 $ (68) $ 986,349 $ 454,844 $ 198,270 $ 333,235 As of December 31, 2024 , we had $136.7 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. Acquire d common stock is recorded as marketable securities in the consolidated balance sheets and its fair value is adjusted every reporting period. Changes in fair value are recorded in the consolidated statement of operations as unrealized gain (or loss) on marketable securities, which is included in other income (loss), net. During the year ended December 31, 2024 , we recorded an unrealized gain on marketable securities of $120.3 million . The following table summarizes our cash, cash equivalents and available-for-sale investments at December 31, 2023 (in thousands): 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 bonds 238,747 120 (237) 238,630 — — 238,630 U.S. 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. During the years ended December 31, 2023 and 2022 , we recorded a $ 38.7 million unrealized gain and $32.9 million unrealized loss on marketable securities, respectively.

Expected Credit Losses

Expected Credit Losses	12 Months Ended
	Dec. 31, 2024
Credit Loss [Abstract]
Expected Credit Losses	Expected Credit Losses Accounts and notes receivable, contract assets and off-balance-sheet exposures are presented net of a reserve for expected credit losses, which totaled $5.6 million, $4.0 million and $3.6 million as of December 31, 2024, 2023, and 2022, respectively. 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 is 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): Year Ended December 31, 2024 Year Ended December 31, 2023 Year Ended December 31, 2022 United States Other countries Total United States Other countries Total United States Other countries Total Balance, beginning of period $ 3,369 $ 597 $ 3,966 $ 3,064 $ 566 $ 3,630 $ 3,171 $ 178 $ 3,349 Provision for expected credit losses 3,725 308 4,033 815 269 1,084 309 391 700 Amounts written off charged against the allowance (2,309) (95) (2,404) (510) (244) (754) (416) — (416) Other, including foreign currency translation — 14 14 — 6 6 — (3) (3) Balance, end of period (1) $ 4,785 $ 824 $ 5,609 $ 3,369 $ 597 $ 3,966 $ 3,064 $ 566 $ 3,630 (1) Ending balance includes allowance for credit losses recorded in other current liabilities on the consolidated balance sheets, which is related to off-balance-sheet credit exposure. As of December 31, 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): December 31, 2024 December 31, 2023 Accounts receivable and notes receivable, current $ 3,322 $ 2,392 Contract assets, net 2,239 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 $ 5,609 $ 3,966

Inventory

Inventory	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Raw materials $ 93,070 $ 104,112 Finished goods 172,246 165,743 Total inventory $ 265,316 $ 269,855 During the year ended December 31, 2024, we recorded provisions to reduce inventories to their lower of cost or net realizable value of approximately $17.8 million compared to $5.4 million during the year ended December 31, 2023.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): Estimated December 31, 2024 December 31, 2023 Land N/A $ 51,612 $ 51,612 Building and leasehold improvements 3 - 39 years 52,065 32,092 Production equipment 3 - 5 years 148,922 105,245 Computers, equipment and software 3 - 5 years 34,429 30,778 Furniture and office equipment 3 - 5 years 10,058 8,383 Vehicles 5 years 8,139 7,451 Capitalized internal software development costs 3 - 5 years 15,906 14,799 Construction-in-process N/A 62,178 55,397 Total cost 383,309 305,757 Less: Accumulated depreciation (135,985) (105,224) Property and equipment, net $ 247,324 $ 200,533 Construction-in-process included $33.6 million and $31.0 million relat ed to our development in Scottsdale, Arizona at December 31, 2024 and December 31, 2023, respectively. Depreciation and amortization expense related to property and equipment was $39.4 million , $28.1 million and $20.4 million for the years ended December 31, 2024, 2023 and 2022, respectively, of whi ch $21.4 million, $13.6 million and $8.5 million was included in cost of sales for the respective years.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 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 years ended December 31, 2024 and December 31, 2023 were as follows (in thousands): Year Ended December 31, 2024 Year Ended December 31, 2023 TASER Software and Total TASER Software and Total Balance, beginning of period $ 2,984 $ 54,961 $ 57,945 $ 2,957 $ 42,026 $ 44,983 Goodwill acquired — 701,695 701,695 — 12,751 12,751 Purchase accounting adjustments — (479) (479) — (19) (19) Foreign currency translation adjustments (131) (2,192) (2,323) 27 203 230 Balance, end of period $ 2,853 $ 753,985 $ 756,838 $ 2,984 $ 54,961 $ 57,945 There were no accumulated impairment losses as of December 31, 2024 and 2023. Intangible assets (other than goodwill) consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Useful Gross Accumulated Net Gross Accumulated Net Amortizable (definite-lived) intangible assets: Developed technology 3 ‑ 8 years $ 118,322 $ (21,337) $ 96,985 $ 29,402 $ (16,562) $ 12,840 Customer relationships 5 ‑ 10 years 33,223 (4,716) 28,507 5,530 (3,620) 1,910 Issued trademarks 3 ‑ 23 years 6,706 (1,784) 4,922 1,333 (817) 516 Issued patents 8 ‑ 26 years 2,931 (1,470) 1,461 3,222 (1,707) 1,515 Domain names 5 ‑ 10 years 3,043 (2,433) 610 3,043 (2,128) 915 Non-compete agreements — — — 448 (448) — Total amortizable 164,225 (31,740) 132,485 42,978 (25,282) 17,696 Non-amortizable (indefinite-lived) intangible assets: In-process research and development (1) 41,000 — 41,000 — — — Trademarks 1,068 — 1,068 1,068 — 1,068 Patents and trademarks pending 604 — 604 775 — 775 Total non-amortizable 42,672 — 42,672 1,843 — 1,843 Total intangible assets $ 206,897 $ (31,740) $ 175,157 $ 44,821 $ (25,282) $ 19,539 (1) Consists of in-process research and development costs pertaining to the acquisition of Dedrone. For additional details, refer to Note 21. Amortization expense of intangible assets was $17.4 million, $4.5 million and $4.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. Estimated amortization for intangible assets with definite lives for the next five years ended December 31, and thereafter, is as follows (in thousands): 2025 $ 23,850 2026 23,655 2027 22,423 2028 21,437 2029 19,203 Thereafter 21,917 Total $ 132,485

Strategic Investments

Strategic Investments	12 Months Ended
	Dec. 31, 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 generally 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 equity investments. The equity 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 consolidated statement of operations. In conjunction with certain of our strategic investments, we may 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. Depending on their contractual terms, our warrants and call options may be accounted for under either the ASC 321 measurement alternative or as derivative instruments under ASC 815. The following tables provide a roll-forward of the balance of strategic investments (in thousands): Year Ended December 31, 2024 Year Ended December 31, 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 103,888 2,012 — 7,500 113,400 15,016 1,176 — 16,192 Fair value adjustments: Realized gains (losses) during the period, net 95,429 — (4,279) — 91,150 — — — — Unrealized gains on strategic investments still held at the reporting date 74,784 855 — 1,084 76,723 — — — — Unrealized losses on strategic investments still held at the reporting date (4,093) — (893) — (4,986) (81,196) (1,329) — (82,525) Exercises (163,406) — (12,061) — (175,467) 1,500 — — 1,500 Balance, end of period $ 319,598 $ 4,368 $ — $ 8,584 $ 332,550 $ 212,996 $ 1,501 $ 17,233 $ 231,730 During the year ended December 31, 2024, we exercised call options and acquired the remaining outstanding stock of two strategic investments - Fusus L.L.C. ("Fusus") and Dedrone Holdings, Inc. ("Dedrone"). Our pre-existing interests had fair values at the acquisition dates of $63.3 million and $112.2 million, respectively. The acquisitions of Fusus and Dedrone resulted in net non-taxable gains of $42.3 million and $51.6 million related to the existing strategic equity investments an d call options in Fusus and Dedrone, respectively. For additional discussion, refer to Note 21. 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 consolidated statement of operations during the year ended December 31, 2024. For the debt security strategic investment, we recognized an unrealized gain of $1.1 million for the entire hybrid instrument in other income (loss), net on our consolidated statement of operations during the year ended December 31, 2024. Inception to date Equity investments Warrants Call options Debt investments Total Investments $ 325,105 $ 6,235 $ 17,232 $ 7,500 $ 356,072 Fair value adjustments: Realized gains (losses) on strategic investment transactions, net 107,741 — (4,279) — 103,462 Cumulative unrealized gains (losses) 63,203 88,298 (893) 1,084 151,692 Exercises (161,905) (90,165) (12,060) — (264,130) Sales (14,546) — — — (14,546) Balance, end of period $ 319,598 $ 4,368 $ — $ 8,584 $ 332,550 Strategic investment cumulative unrealized net gains are comprised of upward adjustments of $240.7 million and downward adjustments and impairments of $89.0 million.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 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 December 31, 2024 and December 31, 2023 , the unconsolidated non-public VIEs in which we hold variable interests were as follows (in thousands): December 31, 2024 December 31, 2023 Carrying value of variable interest - assets (1) $ 25,171 $ 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 consolidated balance sheets. We

Other Long-Term Assets

Other Long-Term Assets	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Long-Term Assets	Other Long-Term Assets Other long-term assets consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Deferred commissions $ 154,894 $ 119,084 Operating lease assets 44,567 36,155 Deferred cost of goods sold 14,123 14,388 Cash surrender value of corporate-owned life insurance policies 8,398 7,558 Deferred implementation costs 1,305 2,175 Prepaid expenses, deposits and other 14,333 11,671 Total other long-term assets $ 237,620 $ 191,031

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Accrued commissions $ 88,237 $ 58,641 Accrued bonus 59,780 56,188 Accrued income and other taxes 27,863 5,784 Accrued salaries and benefits 25,233 10,807 Accrued inventory in transit 13,101 12,197 Accrued cloud hosting fees 10,673 8,530 Accrued warranty expense 8,284 7,374 Accrued consulting and IT fees 7,846 5,421 Other accrued expenses 38,176 28,608 Total accrued liabilities $ 279,193 $ 193,550

Convertible Senior Notes

Convertible Senior Notes	12 Months Ended
	Dec. 31, 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 (the "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 total net proceeds from the issuance of the Notes, after deducting initial purchasers’ discounts and commissions and estimated debt issuance costs of $16.2 million, were approximately $673.8 million. The effective interest rate for the Notes was 0.99% and included interest payable and amortization of debt issuance cost. The terms of the Notes allow for conversion into common stock, cash, or a combination of cash and common stock, at our option. 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. December 31, 2024 Maturity Date Initial Conversion Price per Share Initial Conversion Rate per $1,000 Par Value Initial Number of Shares 2027 Notes December 15, 2027 $228.73 4.3720 shares 3,016,680 The notes are convertible, in multiples of $1,000 principal amount, at the option of the holders prior to the close of business on the business day immediately preceding September 15, 2027 only under the following circumstances: • during any calendar quarter commencing after the calendar quarter ending on March 31, 2023 (and only during such fiscal quarter), if the last reported sale price per common stock exceeds 130% of the conversion price for each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter; • any time preceding September 15, 2027, when during the five consecutive business days immediately after any 10 consecutive trading day period (the “Measurement Period”), if the trading price per $1,000 principal amount of Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of common stock on such trading day and the conversion rate on such trading day; • upon the occurrence of certain corporate events or distributions on our ordinary shares, as provided in the indenture governing the Notes; • if we call the Notes for redemption; or any time from, and including, September 15, 2027 until the close of business on the second scheduled trading day immediately before the maturity date 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): December 31, 2024 December 31, 2023 Principal $ 690,000 $ 690,000 Unamortized debt issuance costs (9,711) (12,887) Convertible notes carrying amount, net $ 680,289 $ 677,113 We consider the fair value of the Notes to be a Level 2 measurement. The estimated fair value of the Notes at December 31, 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): December 31, 2024 December 31, 2023 2027 Notes $ 1,798.5 $ 873.3 Interest expense related to the Notes was as follows (in thousands): December 31, 2024 December 31, 2023 Contractual interest expense $ 3,451 $ 3,450 Amortization of debt issuance costs 3,176 3,126 Total interest expense $ 6,627 $ 6,576 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 December 31, 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 com mon stock shown in the table above. If the average market value per share of our common stock exceeds th

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Cloud Service Commitments In June 2022, we entered into a purchase agreement for cloud hosting with a six year term beginning July 1, 2022. The purchase agreement includes a total commitment of $425.0 million. Storage fees under this agreement were $81.9 million for the year ended December 31, 2024. The remaining purchase commitment at December 31, 2024 was $265.5 million. Purchase Commitments We routinely enter into cancelable and non-cancelable purchase orders with many of our key vendors. Based on the strategic relationships with many of these vendors, our ability to cancel these purchase orders and maintain a favorable relationship would be limited. As of December 31, 2024, we had approximately $637.5 million of open purchase orders and $272.1 million of other purchase obligations, inclusive of the data storage commitment noted above. 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 two such lawsuits 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 camera competitor, Vievu LLC, 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. Pending in the Eastern District of Virginia (Case No. 1:24-CV-01625) is a patent infringement suit filed by Airspace Systems, Inc. against Dedrone Holdings, Inc. involving certain drone technology. After Axon acquired Dedrone on October 1, 2024, Airspace amended its complaint and added Axon as a defendant. Axon and Dedrone deny infringement and further contend that the three asserted patents are invalid and/or contain patent ineligible subject matter. 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 December 31, 2024, 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 December 31, 2024 , we had outstanding letters of credit issued under our credit facility of $7.8 million that are expected to expire through 2026. We also had outstanding letters o f credit of $0.1 million that do not draw against our credit facility. Additionally, w e had $20.9 million of outstanding surety bonds as of December 31, 2024, with expiration dates ranging through 2029

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before provision (benefit) for income taxes included the following components for the years ended December 31 (in thousands): 2024 2023 2022 United States $ 357,484 $ 134,509 $ 191,353 Foreign 24,020 22,552 4,885 Total $ 381,504 $ 157,061 $ 196,238 Significant components of the provision (benefit) for income taxes were as follows for the years ended December 31 (in thousands): 2024 2023 2022 Current: Federal $ 60,924 $ 33,084 $ 10,804 State 18,298 10,371 10,118 Foreign 3,388 2,804 2,892 Total current 82,610 46,259 23,814 Deferred: Federal (63,073) (60,673) 26,180 State (20,838) (9,172) (2,015) Foreign (1,815) 89 (2,146) Total deferred (85,726) (69,756) 22,019 Tax impact of unrecorded tax benefits liability 7,586 4,775 3,475 Provision for (benefit from) income taxes $ 4,470 $ (18,722) $ 49,308 A reconciliation of our effective income tax rate to the federal statutory rate follows for the years ended December 31 (in thousands): 2024 2023 2022 Federal income tax at the statutory rate $ 80,120 $ 32,983 $ 41,224 Excess stock-based compensation benefit (83,748) (106,522) (4,616) Executive compensation limitation 51,858 77,350 5,784 R&D credits (36,571) (26,204) (13,340) Nontaxable gain on investments (19,727) — — Change in unrecognized tax benefits 7,356 4,351 3,215 Other permanent differences 5,176 1,201 1,118 Global intangible low-taxed income 3,081 1,890 653 Foreign derived intangible income deduction (2,558) (961) (2,597) Foreign tax credit (1,914) (1,922) — State income taxes, net of federal benefit 1,713 3,730 7,915 Change in valuation allowance (903) (4,695) 10,216 Tax effects of intercompany transactions (222) (2,033) (417) Difference between statutory and foreign tax rates 801 1,013 (428) Other 8 1,097 581 Provision for (benefit from) income taxes $ 4,470 $ (18,722) $ 49,308 Effective tax rate 1.2 % (11.9) % 25.1 % Significant components of our deferred income tax assets and liabilities are as follows at December 31, 2024 and December 31, 2023 (in thousands): 2024 2023 Deferred income tax assets: R&D capitalization, net $ 193,265 $ 99,746 Deferred revenue 66,948 59,443 Stock-based compensation 51,088 10,544 Convertible debt, net 31,603 39,649 Reserves, accruals, and other 21,634 12,264 R&D tax credit carryforward 19,100 16,554 Net operating loss carryforward 17,824 2,115 Accrued bonus 12,101 11,253 Lease liability 11,966 9,664 Inventory reserve 5,794 1,986 Deferred compensation 4,021 2,803 Strategic investments — 6,109 Amortization — 4,425 Total gross deferred tax assets 435,344 276,555 Valuation allowance (23,054) (21,600) Total deferred income tax assets, net of valuation allowance 412,290 254,955 Deferred income tax liabilities: Strategic investments (42,260) — Amortization (36,185) — Depreciation (16,739) (14,575) Right of use asset (10,639) (8,404) Prepaid expenses (2,874) (2,223) Customer contract asset (1,174) (690) Goodwill amortization (509) (314) Other — (965) Total deferred income tax liabilities (110,380) (27,171) Net deferred income tax assets $ 301,910 $ 227,784 Deferred taxes are reflected in the consolidated balance sheet as follows: Non-current tax assets (included in deferred tax asset, net) 304,282 227,784 Non-current tax liabilities (included in other long-term liabilities) (2,372) — Total $ 301,910 $ 227,784 The following table presents the valuation allowance activity for years ended December 31, 2024, 2023 and 2022 (in thousands): 2024 2023 2022 Balance, beginning of period $ 21,600 $ 26,368 $ 16,168 Tax provision (benefit) (576) (4,262) 10,409 Deductions charged to tax provision / benefit (327) (505) (164) Additions (reversals) to other accounts 2,357 (1) (45) Balance, end of period $ 23,054 $ 21,600 $ 26,368 As of December 31, 2024, we have recorded a net tax benefit totaling $17.8 million for U.S. federal, state, and foreign net operating loss carryforwards ("NOLs"). As of December 31, 2024, $15.5 million of NOLs may be carried forward indefinitely while the remaining $2.3 million will begin to expire at various times from 2036 through 2044. As of December 31, 2024, we have a total of $26.1 million state (net of federal benefit) R&D credit carryforwards available to offset future income taxes. A total of $2.5 million of the state R&D credits may be carried forward indefinitely while the remaining $23.6 million will begin to expire at various times from 2025 through 2044. As of December 31, 2024, we anticipate sufficient future pre-tax book income to realize a significant portion of our deferred tax assets. However, as we have Arizona R&D tax credits expiring unutilized each year, unrealized investment losses for which realization is uncertain, and specific identified intangibles with an indefinite life, we have recorded a 23.1 million valuation allowance against these specific deferred tax assets as of December 31, 2024. The net change in total valuation allowance for the years ended December 31, 2024, and 2023 was an increase of $1.5 million and decrease of $4.8 million, respectively. The valuation allowance changes are driven primarily by certain state R&D tax credits that are expected to expire unutilized, acquired state NOLs, and movement in deferred tax assets associated with unrealized investment losses and transaction costs incurred in connection with certain investments that are not more likely than not to be realized. Of the net change in the valuation allowance in 2024 and 2023, a decrease of $0.9 million and $4.8 million , respectively, was recorded to tax expense and an increase of $2.4 million and $0 million, respectively, was recorded through the consolidated balance sheet. We consider the undistributed earnings of certain non-U.S. subsidiaries to be indefinitely reinvested outside of the United States based on estimates that future domestic cash generation will be sufficient to meet future domestic cash needs and our specific plans for reinvestment of those subsidiary earnings. We project that our foreign earnings will be utilized offshore for working capital and future foreign growth and we have not made a provision for U.S. or additional foreign withholding taxes of the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that is indefinitely reinvested. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. We have estimated the amount of deferred tax liability related to investments in these foreign subsidiaries undistributed earnings is approximately $1.1 million. If we decide to repatriate the undistributed foreign earnings, we will recognize the income tax effects in the period we change our assertion on indefinite reinvestment. 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. We have made the determination that it is not more likely than not that the full b enefit of the R&D tax credit will be sustained on examination. As such, we recorded a liability for unrecognized tax benefits of $32.7 million as of December 31, 2024. We expect the amount of the unrecognized tax benefit to decrease by approximately $9.0 million within the next 12 months due to statute of limitations expirations. Should the unrecognized benefit of $32.7 million be recognized, our effective tax rate would be favorably impacted. The following table presents a roll forward of our liability for unrecognized tax benefits, exclusive of accrued interest, as of December 31 (in thousands): 2024 2023 2022 Balance, beginning of period $ 25,754 $ 21,492 $ 18,249 Increase (decrease) in previous year tax positions 501 (215) 232 Increase in current year tax positions 7,313 6,963 3,343 Decrease due to lapse of statute of limitations (842) (2,486) (332) Balance, end of period $ 32,726 $ 25,754 $ 21,492 Federal inc ome tax returns for 2021 through 2023 remain open to examination by the U.S. Internal Revenue Service, while state and local income tax returns for 2020 through 2023 also generally remain open to examination by state taxing authorities. The 2010 through 2019 state and local income tax returns are only open to the extent that net operating losses or other tax attributes carrying forward from those years were utilized in 2020 through 2023. The foreign tax returns for 2020 through 2023 also generally remain open to examination, although some foreign jurisdictions can audit returns up to ten years. We recognize interest and penalties related to unrecognized tax benefits within the provision (benefit) for income tax expense line in the consolidated statements of operations and comprehensive income. We have recognized expense (benefit), before federal tax impact, related to interest of $1.2 million, $0.3 million, and $0.1 million in 2024 , 2023, and 2022 respectively. As of December 31, 2024, and 2023, we had accrued interest o f $1.8 million and $0.6 million, respectively. As part of the OECD global minimum tax framework, certain jurisdictions in which we operate have enacted or are in the process of implementing top-up tax provisions under Pillar Two. We have assessed the impact of these regulations on our tax position and included an immaterial adjustment in our income tax provision as of December 31, 2024. We continue to monitor legislative developments and will assess potential future impacts as additional guidance and implementation details become available.

Line of Credit

Line of Credit	12 Months Ended
	Dec. 31, 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 that allows for an increase in the total line of credit up to $300.0 million, in each lender’s sole discretion. As of December 31, 2024, and 2023, respectively, no amounts were drawn under the Credit Agreement. Under the terms of the line of credit, available borrowings are reduced by outstanding letters of credit. As of December 31, 2024, we had letters of credit outstanding of approximately $7.8 million under the facility and available borrowing of $192.2 million, excluding amounts available under the accordion feature. 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, of no greater than 3.50 to 1.00 based upon a trailing four fiscal quarter period. At December 31, 2024, our net leverage ratio was (0.17) to 1.00. Additionally, we must comply with a consolidated interest coverage ratio, defined as EBITDA to consolidated interest expense, of no less than 3.50 to 1.00 based upon a trailing four fiscal quarter end. At December 31, 2024, our consolidated interest coverage ratio was 71.07 to 1.00.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock and Preferred Stock We have authorized the issuance of two classes of stock designated as “common stock” and “preferred stock,” each having a par value of $0.00001 per share. We are authorized to issue 200 million shares of common stock and 25 million shares of preferred stock. 2018 CEO Performance Award As of December 31, 2024, no unrecognized stock-based compensation expense remained under the 2018 CEO Performance Award. Furthermore, no performance-based stock options were awarded during the years ended December 31, 2024, 2023 or 2022. 2024 Employee XSP and 2024 CEO Performance Award The 2024 Employee XSP includes an approved pool of 4.5 million shares of common stock reserved for grants of XSUs to employees. A total of approximately 4.1 million XSUs were granted in the year ended December 31, 2024. The program includes seven substantially equal tranches that will vest upon certification by the Compensation Committee 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 (2) Employee XSP CEO Award Goal Expiration 1 $1,834 or $382 and $247.40 and June 2025 December 2028 December 31, 2026 2 2,293 or 497 and 309.25 and December 2025 December 2028 December 31, 2027 3 2,866 or 644 and 386.56 and June 2026 December 2029 December 31, 2028 4 3,583 or 834 and 483.20 and December 2026 December 2029 December 31, 2029 5 4,479 or 1,077 and 604.00 and June 2027 December 2030 December 31, 2030 6 5,599 or 1,389 and 755.00 and December 2027 December 2030 December 31, 2031 7 6,999 or 1,739 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 (2) In connection with certain acquisitions which were completed during fiscal year 2024, the Adjusted EBITDA goals were adjusted as required by the terms of the 2024 Employee XSP and 2024 CEO Performance Award Additionally , 679,102 XSUs were granted to our CEO, Patrick W. Smith, pursuant to the terms of the 2024 CEO Performance Award. The stock price goals and operational goals applicable to the 2024 CEO Performance Award are identical to those under the 2024 Employee XSP described above, but Mr. Smith is subject to a longer minimum required service period. Restricted Stock Units The following table summarizes RSU activity for the years ended December 31 (number of units and aggregate intrinsic value in thousands): 2024 2023 2022 Number Weighted Number Weighted Number Weighted Units outstanding, beginning of year 1,615 $ 193.09 1,565 $ 145.48 1,115 $ 133.40 Granted 1,131 440.76 915 227.62 1,142 143.03 Released (909) 196.35 (740) 140.81 (541) 117.49 Forfeited (153) 208.12 (125) 157.95 (151) 138.99 Units outstanding, end of year 1,684 356.31 1,615 193.09 1,565 145.48 Aggregate intrinsic value at year end $ 1,000,769 Aggregate intrinsic value represents our closing stock price on the last trading day of the period, which was $594.32 per share, multiplied by the number of RSUs outstanding. The fair value as of the respective vesting dates of RSUs that vested during the year was $426.3 million, $161.7 million, and $84.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, we had $530.4 million of total unrecognized stock-based compensation expense related to RSUs under our stock plans for shares that are expected to vest. We expect to recognize the cost related to the RSUs over a weighted average period of 2.31 years. Shares underlying RSUs are generally released when vesting requirements are met. Certain RSUs that vested in the year ended December 31, 2024 were net-share settled, such that we withheld shares to cover the employees’ tax obligations for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. Total shares withheld related to RSUs during 2024 were 122,020 and had a value of approximately $58.1 million on their respective vesting dates as determined by the closing stock price on such dates. Payments for the employees’ tax obligations are reflected as a financing activity within the consolidated statements of cash flows. We record a liability for the tax withholding to be paid by us as a reduction to additional paid-in capital. Performance Stock Units The following table summarizes PSU activity, inclusive of XSUs, for the years ended December 31 (number of units and aggregate intrinsic value in thousands): 2024 2023 2022 Number Weighted Number Weighted Number Weighted Units outstanding, beginning of year 394 $ 201.61 1,369 $ 43.43 1,499 $ 39.86 Granted 4,888 263.13 319 218.04 158 106.57 Released (23) 140.90 (1,238) 37.98 (78) 107.58 Forfeited (394) 232.94 (56) 48.40 (210) 41.62 Units outstanding, end of year 4,865 261.18 394 201.61 1,369 43.43 Aggregate intrinsic value at year end $ 2,891,142 Aggregate intrinsic value represents our closing stock price on the last trading day of the period, which was $594.32 per share, multiplied by the number of PSUs outstanding. The fair value as of the respective vesting dates of PSUs that vested during the year was $8.4 million, $256.5 million, and $10.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, there was $756.2 million in total unrecognized stock-based compensation expense related to PSUs under our stock plans for shares that are expected to vest. We expect to recognize the cost related to the PSUs over a weighted average period of 4.24 years. Shares underlying PSUs are released when vesting requirements are met. Certain PSUs that vested in the year ended December 31, 2024 were net-share settled such that we withheld shares to cover the employees’ tax obligations for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. Total shares withheld related to PSUs were approximately 370 and had a value of $0.1 million on their respective vesting dates as determined by the closing stock price on such dates. Payments for the employees’ tax obligations are reflected as a financing activity within the consolidated statements of cash flows. We record a liability for the tax withholding to be paid by us as a reduction to additional paid-in capital. Stock Option Activity The following table summarizes stock option activity for the years ended December 31 (number of options in thousands): 2024 2023 2022 Number Weighted Number Weighted Number Weighted Options outstanding, beginning of year 531 $ 28.58 2,438 $ 28.58 2,438 $ 28.58 Granted — — — — — Exercised (510) 28.58 (1,907) 28.58 — — Expired / terminated — — — — — Options outstanding, end of year 21 28.58 531 28.58 2,438 28.58 Options exercisable, end of year 21 28.58 531 28.58 1,377 28.58 We did not grant any stock options in 2024, 2023 or 2022. The total intrinsic value of options exercised was $178.1 million and $323.0 million for the years ended December 31, 2024 and 2023, respectively; no options were exercised in the year ending December 31, 2022. The intrinsic value for options exercised was calculated as the difference between the exercise price of the underlying stock option awards and the market price of our common stock on the date of exercise. The following tab le summarizes information about stock options that were fully vested or expected to vest as of December 31, 2024 (number of options in thousands): Options Outstanding Options Exercisable Range of Number of Weighted Average Weighted Average Average $28.58 21 $ 28.58 3.15 21 $ 28.58 3.15 The aggregate intrinsic value of options exercisable at December 31, 2024 was $11.8 million. Aggregate intrinsic value represents the difference between the exercise price of the underlying stock option awards and the closing market price of our common stock of $594.32 on the last trading day for the period ending December 31, 2024. Stock-based Compensation Expense We account for stock-based compensation using the fair-value method. Reported stock-based compensation expense was classified as follows for the years ended December 31 (in thousands): 2024 2023 2022 Cost of product and service sales $ 60,089 $ 6,595 $ 4,607 Selling, general and administrative expenses 190,561 58,533 51,301 Research and development expenses 131,954 66,230 50,268 Total stock-based compensation expense $ 382,604 $ 131,358 $ 106,176 Income tax benefit $ 79,275 $ 13,509 $ 25,154 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 remaining available under our legacy stock incentive plans, there are 3.2 million shares available for grant as of December 31, 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. During the year ended December 31, 2024, no shares were sold under the ATM. During the year ended December 31, 2023, 467,594 shares of our common stock were sold under the ATM. We generated approximately $96.4 million in aggregate gross proceeds from these sales. Aggregate net proceeds were $94.7 million after deducting related expenses, including commissions to the sales agent and issuance costs of $1.7 million. During the year ended December 31, 2022, no shares were sold under the ATM. We intend to use the net proceeds from the ATM for general corporate purposes, which may include, among other things, providing capital to satisfy a portion of the tax obligations related to the vesting and settlement of stock compensation awards granted to our executive officers and other employees under our stock plans, to support our growth, and to acquire or invest in product lines, services, technologies or facilities. Stock Repurchase Plan In February 2016, our Board of Directors authorized a stock repurchase program to acquire up to $50.0 million of our outstanding common stock subject to stock market conditions and corporate considerations. As of December 31, 2024 and 2023, $16.3 million remained available under the plan for future purchases.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table reflects the changes in accumulated other comprehensive loss, net of tax (in thousands): Unrealized Gains (Losses) on Available-for-Sale Investments (1) Foreign Currency Total Balance, December 31, 2021 $ (207) $ (1,110) $ (1,317) Other comprehensive loss (1,044) (4,818) (5,862) Balance, December 31, 2022 $ (1,251) $ (5,928) $ (7,179) Other comprehensive income (loss) 852 (4,352) (3,500) Balance, December 31, 2023 $ (399) $ (10,280) $ (10,679) Other comprehensive income (loss) 369 (7,874) (7,505) Balance, December 31, 2024 $ (30) $ (18,154) $ (18,184) (1) Amounts are net of immaterial tax impacts

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	Leases We have operating leases for office space, manufacturing and logistical functions. Operating lease assets and liabilities consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): Leases (in thousands) Classification December 31, 2024 December 31, 2023 Assets Operating lease assets Other assets $ 44,567 $ 36,155 Liabilities Current Operating Other current liabilities $ 9,453 $ 7,938 Noncurrent Operating Long-term lease liabilities 41,383 33,550 Total lease liabilities $ 50,836 $ 41,488 The components of operating lease expenses were as follows for the years ended December 31 (in thousands): 2024 2023 2022 Total operating lease expense (1) $ 14,568 $ 10,025 $ 8,703 (1) Includes short-term leases, which are immaterial Supplemental cash flow information related to operating leases were as follows for the year ended December 31 (in thousands): 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 12,284 $ 8,846 $ 9,216 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 14,292 $ 5,927 $ 21,815 Weighted-average remaining lease term and discount rate at December 31, 2024 and December 31, 2023 were as follows: December 31, 2024 December 31, 2023 Weighted average remaining lease term: Operating leases 7.7 years 7.1 years Weighted average discount rate: Operating leases 7.60 % 6.05 % Future minimum operating lease payments under non-cancellable leases as of December 31, 2024 were as follows (in thousands): Operating 2025 13,791 2026 8,994 2027 6,606 2028 6,120 2029 5,546 Thereafter 28,409 Total minimum lease payments 69,466 Less: Amount representing interest (18,630) Present value of lease payments $ 50,836

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans We have a defined contribution profit sharing 401(k) plan for eligible employees, which is qualified under Sections 401(a) and 401(k) of the Internal Revenue Code of 1986, as amended. Employees are entitled to make tax-deferred contributions of their eligible compensation up to the maximum allowed by law. We also sponsor defined contribution plans in certain of our international subsidiaries.

Segment Data

Segment Data	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Data	Segment Data Information relative to our reportable segments was as follows (in thousands): For the year ended December 31, 2024 TASER Software and Sensors Total Net sales from products $ 763,761 $ 457,531 $ 1,221,292 Net sales from services 54,912 806,322 861,234 Net sales 818,673 1,263,853 2,082,526 Cost of sales 338,642 502,504 841,146 Other segment items (1) 34,937 39,130 74,067 Adjusted gross margin $ 514,968 $ 800,479 $ 1,315,447 Other segment items (1) 74,067 Selling, general and administrative 741,247 Research and development 441,593 Interest income, net 36,595 Other income (loss), net 286,369 Income before provision for income taxes $ 381,504 (1) Other segment items includes the adjustment for noncash stock-based compensation expense, amortization of acquired intangible assets, and inventory step-up amortization related to acquisitions to arrive at the profit measure used by the CODM For the year ended December 31, 2023 TASER Software and Sensors Total Net sales from products $ 577,610 $ 386,392 $ 964,002 Net sales from services 35,900 560,797 596,697 Net sales 613,510 947,189 1,560,699 Cost of sales 241,977 363,269 605,246 Other segment items (1) 2,235 7,504 9,739 Adjusted gross margin $ 373,768 $ 591,424 $ 965,192 Other segment items (1) 9,739 Selling, general and administrative 494,884 Research and development 303,719 Interest income, net 42,112 Other income (loss), net (41,901) Income before provision for income taxes $ 157,061 (1) Other segment items includes the adjustment for noncash stock-based compensation expense and amortization of acquired intangible assets to arrive at the profit measure used by the CODM For the year ended December 31, 2022 TASER Software and Sensors Total Net sales from products $ 511,057 $ 286,120 $ 797,177 Net sales from services 19,987 369,979 389,966 Net sales 531,044 656,099 1,187,143 Cost of sales 195,239 265,791 461,030 Other segment items (1) 1,562 5,708 7,270 Adjusted gross margin $ 337,367 $ 396,016 $ 733,383 Other segment items (1) 7,270 Selling, general and administrative 399,330 Research and development 233,810 Interest income, net 4,294 Other income (loss), net 98,971 Income before provision for income taxes $ 196,238 (1) Other segment items includes the adjustment for noncash stock-based compensation expense and amortization of acquired intangible assets to arrive at the profit measure used by the CODM The following table presents supplemental information included within the measure of profit or loss, adjusted gross margin, reviewed by our CODM (in thousands). There are no other material items presented to our CODM by segment or included within adjusted gross margin for supplemental disclosure. Year Ended December 31, 2024 Year Ended December 31, 2023 Year Ended December 31, 2022 TASER S Software and Sensors Total TASER Software and Sensors Total TASER Software and Sensors Total Depreciation and amortization $ 18,789 $ 16,592 $ 35,381 $ 12,346 $ 5,223 $ 17,569 $ 7,049 $ 4,082 $ 11,131 Significant noncash items: Stock-based compensation expense 34,906 25,183 60,089 2,234 4,361 6,595 1,561 3,046 4,607 Provisions for inventory 4,508 12,091 16,599 3,642 752 4,394 — — — Warranty reserve expense 4,743 849 5,592 7,325 737 8,062 53 145 198

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	Business Combinations The consolidated financial statements include the operating results of each acquisition from the date of acquisition noted below. Pro forma results of operations and the revenue and net income subsequent to the acquisitions have not been presented because the effects of the acquisitions were not material to our financial results. Fusus On January 31, 2024, we acquired the remaining 79.7% interest in Fusus, a global leader in real-time crime center technology, for incremental consideration transferred of approximately $241.3 million (the “Fusus step acquisition”). 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 consolidated statement of operations. The fair value of the previously held investment was remeasured using Level 3 valuation techniques, which include inputs to the valuation methodology that are considered unobservable and significant to the fair value measurement. 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 acquisition- related transaction and integration costs for the years ended December 31, 2024 and 2023 were $4.7 million and $2.6 million, respectively. These transaction costs were expensed as incurred in SG&A in our consolidated statements of operations. The purchase price allocation was subject to revision during the measurement period through the fourth quarter of 2024. Based on the final purchase price allocation, we recorded $249.9 million of goodwill, $72.9 million of identifiable intangible assets, and other net liabilities assumed of $7.8 million, excluding deferred taxes. We also recorded a net deferred tax liability of $10.4 million. The identifiable intangible assets included $56.6 million of developed technology, $14.4 million of customer relationships, and $1.9 million of trademarks. With the assistance of third-party valuation experts, we calculated the fair values of the intangible assets using the multi-period excess earnings method for the acquired developed technology, the with and without method for the customer relationships, and the relief-from-royalty method for the trademarks. The valuation of acquired intangible assets utilized Level 3 valuation techniques, which include inputs to the valuation methodology that are considered unobservable and significant to the fair value measurement. Significant assumptions used by management in the Fusus developed technology multi-period excess earnings (income valuation) approach were projected revenues, earnings before interest, taxes, and depreciation and amortization (EBITDA) margins, obsolescence technology factor, and the discount rate. The weighted average amortization period of the acquired intangible assets as of the acquisition date 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. Consistent with the assignment of goodwill, the consolidated results of Fusus are included in our Software and Sensors operating segment following the acquisition. Dedrone On October 1, 2024, we acquired the remaining 79.8% interest in Dedrone, a global leader in air space security, for incremental consideration transferred of approximately $391.1 million, subject to customary purchase price adjustments (the “Dedrone step acquisition”). Our existing 20.2% interest had a fair value at the acquisition date of $112.2 million, which resulted in a non-taxable gain of $51.6 million recorded in other income (loss), net in our consolidated statement of operations. The fair value of the previously held investment was remeasured using Level 3 valuation techniques, which include inputs to the valuation methodology that are considered unobservable and significant to the fair value measurement. This acquisition represents alignment to our mission and positions us to accelerate the next generation of drone and air space solutions. Total acquisition-related transaction and integration costs were $13.0 million for the year ended December 31, 2024. These transaction costs were expensed as incurred in SG&A in our consolidated statements of operations. The purchase price allocation is subject to revision during the measurement period for normal closing activities, such as income tax filings and settlement of escrow balances, which is expected to be completed by the third quarter of 2025. Based on the initial purchase price allocation, we recorded $451.1 million of goodwill, $100.5 million of identifiable intangible assets, and other net liabilities assumed of $47.1 million, excluding deferred taxes. We also recorded a net deferred tax liability of $1.2 million. The identifiable intangible assets included $41.0 million of developed technology, $41.0 million of in-process research and development, $15.0 million of customer relationships, and $3.5 million of trademarks. With the assistance of third-party valuation experts, we calculated the fair values of the intangible assets using the primary method of cost approach for the developed technology and in-process research and development, the with and without method for customer relationships, and the relief-from-royalty method for the trademarks. The valuation of the developed technology and in-process research and development was also supported by an income approach. The valuation of acquired intangible assets utilized Level 3 valuation techniques, which include inputs and assumptions to the valuation methodology that are considered unobservable and significant to the fair value measurement. The significant assumption used by management in the Dedrone developed technology and IPR&D cost approaches was direct development cost build-up. The weighted average amortization period of the acquired intangible assets as of the acquisition date was 5.5 years. The acquired in-process research and development projects represent projects that are expected to enhance our drone capabilities, have not yet been completed for commercialization, and are required to be classified as indefinite-lived assets until their successful completion. These projects are expected to be placed in service and begin amortizing once they are commercialized and begin contributing to our cash inflows during 2025. 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. Consistent with the assignment of goodwill, the consolidated results of Dedrone are included in our Software and Sensors operating segment following the acquisition.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In February 2025, we entered into a series of transactions to acquire additional equity interests in an existing strategic investee for an aggregate amount of $173.3 million. The closing of one of these transactions is contingent upon regulatory approval that is expected to be received in March 2025.

Revision of Prior Period Financ

Revision of Prior Period Financial Statements	12 Months Ended
	Dec. 31, 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. Consistent with revising our quarterly financial statements as of September 30, 2024, we made adjustments to the prior period amounts presented in these financial statements accordingly. Furthermore, we 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 and December 31, 2022; (c) consolidated statements of stockholders' equity for the years ended December 31, 2023 and December 31, 2022; and (d) consolidated statements of cash flows for the years ended December 31, 2023 and December 31, 2022. 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) 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 Selling, 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 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 Selling, 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 basic and diluted income per common and common equivalent shares for the year ended December 31, 2022. Consolidated Statements of Stockholders' Equity (in thousands) As Reported Revision As Revised Retained Earnings Total Retained Earnings Total Retained Earnings Total Balance, December 31, 2021 $ 109,883 $ 1,047,849 $ 2,384 $ 2,384 $ 112,267 $ 1,050,233 Net income 147,139 147,139 (209) (209) 146,930 146,930 Balance, December 31, 2022 257,022 1,268,491 2,175 2,175 259,197 1,270,666 Net income 174,227 174,227 1,556 1,556 175,783 175,783 Balance, December 31, 2023 $ 431,249 $ 1,612,034 $ 3,731 $ 3,731 $ 434,980 $ 1,615,765 Consolidated Statements of Cash Flows (in thousands) 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) Net cash provided by operating activities $ 189,263 $ — $ 189,263 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or to 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) Net cash provided by operating activities $ 235,361 $ — $ 235,361 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or to cash flows from investing or financing activities. Condensed Consolidated Statements of Operations and Comprehensive Income (in thousands, except per share data) As Reported Three Months Ended December 31, 2024 September 30, 2024 Net sales $ 575,145 $ 544,274 Gross margin 345,849 330,747 Income (loss) from operations (15,755) 24,081 Net income 135,184 67,025 Net income per common and common equivalent shares - Basic $ 1.77 $ 0.89 Net income per common and common equivalent shares - Diluted $ 1.67 $ 0.86 As discussed within Note 1, we recorded an out of period adjustment in the three months ended December 31, 2024. This adjustment reduced revenue and net income by $5.1 million and $3.7 million, respectively. Of this total adjustment, $3.3 million and $2.3 million for revenue and net income, respectively, pertained to prior fiscal years. These errors originated in prior years and were immaterial to each respective prior period. 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 Net income per common and common equivalent shares - Diluted $ 0.53 $ — $ 0.53 Comprehensive income $ 38,189 $ 676 $ 38,865 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 Net income per common and common equivalent shares - Basic $ 1.77 $ — $ 1.77 Net income per common and common equivalent shares - Diluted $ 1.73 $ — $ 1.73 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 Net income per common and common equivalent shares - Basic $ 0.76 $ — $ 0.76 Net income per common and common equivalent shares - Diluted $ 0.75 $ — $ 0.75 Comprehensive income $ 59,461 $ (210) $ 59,251 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 Three Months Ended June 30, 2023 As Reported Revision As Revised Net sales from products $ 233,474 $ 214 $ 233,688 Net sales from services 141,131 (2,115) 139,016 Net sales 374,605 (1,901) 372,704 Cost of product sales 101,192 (254) 100,938 Cost of service sales 41,292 133 41,425 Cost of sales 142,484 (121) 142,363 Gross margin 232,121 (1,780) 230,341 Sales, general and administrative 119,922 (614) 119,308 Total operating expenses 191,862 (614) 191,248 Income from operations 40,259 (1,166) 39,093 Income (loss) before provision for income taxes (12,109) (1,166) (13,275) Provision for (benefit from) income taxes (24,529) (260) (24,789) Net income $ 12,420 $ (906) $ 11,514 Net income per common and common equivalent shares - Basic $ 0.17 $ (0.01) $ 0.16 Net income per common and common equivalent shares - Diluted $ 0.16 $ (0.01) $ 0.15 Comprehensive income $ 11,013 $ (906) $ 10,107 Three Months Ended March 31, 2023 As Reported Revision As Revised Net sales from products $ 219,389 $ (569) $ 218,820 Net sales from services 123,654 1,867 125,521 Net sales 343,043 1,298 344,341 Cost of product sales 107,584 673 108,257 Cost of service sales 31,357 263 31,620 Cost of sales 138,941 936 139,877 Gross margin 204,102 362 204,464 Sales, general and administrative 116,567 (621) 115,946 Total operating expenses 187,494 (621) 186,873 Income from operations 16,608 983 17,591 Income before provision for income taxes 41,884 983 42,867 Provision for (benefit from) income taxes (3,255) 223 (3,032) Net income $ 45,139 $ 760 $ 45,899 Net income per common and common equivalent shares - Basic $ 0.62 $ 0.01 $ 0.63 Net income per common and common equivalent shares - Diluted $ 0.61 $ 0.01 $ 0.62 Comprehensive income $ 46,999 $ 760 $ 47,759

Impact of Revision on Quarterly

Impact of Revision on Quarterly Statements of Operations and Comprehensive Income (Unaudited)	12 Months Ended
	Dec. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Impact of Revision on Quarterly Statements of Operations and Comprehensive Income (Unaudited)	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. Consistent with revising our quarterly financial statements as of September 30, 2024, we made adjustments to the prior period amounts presented in these financial statements accordingly. Furthermore, we 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 and December 31, 2022; (c) consolidated statements of stockholders' equity for the years ended December 31, 2023 and December 31, 2022; and (d) consolidated statements of cash flows for the years ended December 31, 2023 and December 31, 2022. 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) 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 Selling, 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 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 Selling, 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 basic and diluted income per common and common equivalent shares for the year ended December 31, 2022. Consolidated Statements of Stockholders' Equity (in thousands) As Reported Revision As Revised Retained Earnings Total Retained Earnings Total Retained Earnings Total Balance, December 31, 2021 $ 109,883 $ 1,047,849 $ 2,384 $ 2,384 $ 112,267 $ 1,050,233 Net income 147,139 147,139 (209) (209) 146,930 146,930 Balance, December 31, 2022 257,022 1,268,491 2,175 2,175 259,197 1,270,666 Net income 174,227 174,227 1,556 1,556 175,783 175,783 Balance, December 31, 2023 $ 431,249 $ 1,612,034 $ 3,731 $ 3,731 $ 434,980 $ 1,615,765 Consolidated Statements of Cash Flows (in thousands) 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) Net cash provided by operating activities $ 189,263 $ — $ 189,263 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or to 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) Net cash provided by operating activities $ 235,361 $ — $ 235,361 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or to cash flows from investing or financing activities. Condensed Consolidated Statements of Operations and Comprehensive Income (in thousands, except per share data) As Reported Three Months Ended December 31, 2024 September 30, 2024 Net sales $ 575,145 $ 544,274 Gross margin 345,849 330,747 Income (loss) from operations (15,755) 24,081 Net income 135,184 67,025 Net income per common and common equivalent shares - Basic $ 1.77 $ 0.89 Net income per common and common equivalent shares - Diluted $ 1.67 $ 0.86 As discussed within Note 1, we recorded an out of period adjustment in the three months ended December 31, 2024. This adjustment reduced revenue and net income by $5.1 million and $3.7 million, respectively. Of this total adjustment, $3.3 million and $2.3 million for revenue and net income, respectively, pertained to prior fiscal years. These errors originated in prior years and were immaterial to each respective prior period. 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 Net income per common and common equivalent shares - Diluted $ 0.53 $ — $ 0.53 Comprehensive income $ 38,189 $ 676 $ 38,865 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 Net income per common and common equivalent shares - Basic $ 1.77 $ — $ 1.77 Net income per common and common equivalent shares - Diluted $ 1.73 $ — $ 1.73 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 Net income per common and common equivalent shares - Basic $ 0.76 $ — $ 0.76 Net income per common and common equivalent shares - Diluted $ 0.75 $ — $ 0.75 Comprehensive income $ 59,461 $ (210) $ 59,251 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 Three Months Ended June 30, 2023 As Reported Revision As Revised Net sales from products $ 233,474 $ 214 $ 233,688 Net sales from services 141,131 (2,115) 139,016 Net sales 374,605 (1,901) 372,704 Cost of product sales 101,192 (254) 100,938 Cost of service sales 41,292 133 41,425 Cost of sales 142,484 (121) 142,363 Gross margin 232,121 (1,780) 230,341 Sales, general and administrative 119,922 (614) 119,308 Total operating expenses 191,862 (614) 191,248 Income from operations 40,259 (1,166) 39,093 Income (loss) before provision for income taxes (12,109) (1,166) (13,275) Provision for (benefit from) income taxes (24,529) (260) (24,789) Net income $ 12,420 $ (906) $ 11,514 Net income per common and common equivalent shares - Basic $ 0.17 $ (0.01) $ 0.16 Net income per common and common equivalent shares - Diluted $ 0.16 $ (0.01) $ 0.15 Comprehensive income $ 11,013 $ (906) $ 10,107 Three Months Ended March 31, 2023 As Reported Revision As Revised Net sales from products $ 219,389 $ (569) $ 218,820 Net sales from services 123,654 1,867 125,521 Net sales 343,043 1,298 344,341 Cost of product sales 107,584 673 108,257 Cost of service sales 31,357 263 31,620 Cost of sales 138,941 936 139,877 Gross margin 204,102 362 204,464 Sales, general and administrative 116,567 (621) 115,946 Total operating expenses 187,494 (621) 186,873 Income from operations 16,608 983 17,591 Income before provision for income taxes 41,884 983 42,867 Provision for (benefit from) income taxes (3,255) 223 (3,032) Net income $ 45,139 $ 760 $ 45,899 Net income per common and common equivalent shares - Basic $ 0.62 $ 0.01 $ 0.63 Net income per common and common equivalent shares - Diluted $ 0.61 $ 0.01 $ 0.62 Comprehensive income $ 46,999 $ 760 $ 47,759

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 377,034	$ 175,783	$ 146,930

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 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 or terminated by our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) during the three months ended December 31, 2024, that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Name and Title Action Date of Adoption or Termination Expiration Date Aggregate Number of Securities to be Sold Patrick W. Smith, Chief Executive Officer Termination (1) December 12, 2024 December 31, 2025 789,071 Jeri Williams, Director Adoption December 10, 2024 December 31, 2025 964 Patrick W. Smith, Chief Executive Officer Adoption December 15, 2024 October 20, 2028 150,000 (1) Trading arrangement was originally adopted on May 24, 2024
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Patrick W. Smith [Member]
Trading Arrangements, by Individual
Arrangement Duration	1405 days
Jeri Williams [Member]
Trading Arrangements, by Individual
Name	Jeri Williams
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 10, 2024
Expiration Date	December 31, 2025
Arrangement Duration	386 days
Aggregate Available	964	964
Patrick W. Smith May 2024 Plan [Member] | Patrick W. Smith [Member]
Trading Arrangements, by Individual
Name	Patrick W. Smith
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 12, 2024
Aggregate Available	789,071	789,071
Patrick W. Smith December 2024 Plan [Member] | Patrick W. Smith [Member]
Trading Arrangements, by Individual
Name	Patrick W. Smith
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 15, 2024
Expiration Date	October 20, 2028
Aggregate Available	150,000	150,000

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Our business is highly dependent on our information systems, including our ability to operate them effectively and to successfully implement new technologies, methods and processes, as well as adequate controls and cybersecurity incident recovery plans. We rely on our information systems to manage our business, data, communications, supply chain, ordering, pricing, billing, inventory replenishment, accounting functions and other processes. In addition, we must protect the confidentiality and integrity of the data of our business, employees, customers and other third parties. Our business involves the collection, processing, storage and transmission of personally identifiable information and other sensitive and confidential information. This data is wide ranging and relates to our employees, customers and third parties, including the subjects of law enforcement. Our compliance obligations include those prescribed under the laws and regulations that dictate whether, how and under what circumstances we can receive, process, hold and/or transfer certain data that is critical to our operations, including data shared between countries or regions in which we operate and data shared among our products and services. As part of our company-wide culture of security, we maintain a formal cybersecurity and information security program that is aligned with the standards set forth by the International Organization for Standardization (“ISO”), the American Institute of Certified Public Accountants in Systems and Organization Controls 2, the Criminal Justice Information Services, the Federal Risk and Authorization Management Program and the National Institute of Standards and Technology. Our Information Security Team maintains the program, which is designed to ensure proper monitoring, prevention, detection, mitigation and remediation of cybersecurity vulnerabilities, including the prompt investigation and management of all reported or discovered security events, including cybersecurity threats and incidents, in our ordinary course of business. Our cybersecurity and information security programs are designed to comply with key global financial regulations and cybersecurity laws in the jurisdictions in which we operate. The program includes taking several proactive steps to prepare for attempts to compromise our information systems. To provide for the availability of critical data and systems, maintain regulatory compliance, manage our material cybersecurity risks, and protect against, detect and respond to cybersecurity threats and incidents, we undertake the below listed activities: • closely monitor emerging data protection laws and implement changes to our processes designed to comply; • undertake regular reviews (at least annually) of our consumer facing and internal policies and statements related to cybersecurity; • proactively inform our customers of substantive changes related to customer data handling; • conduct annual information security training for all employees; • recruit and retain highly skilled cybersecurity professionals, and provide regular training and development opportunities for our cybersecurity and information security employees; • conduct regular phishing email simulations for all employees and all contractors with access to corporate email systems to enhance awareness and responsiveness to such possible threats; • through policy, practice and contract (as applicable), require employees, as well as third parties who provide services on our behalf, to treat customer information and data with care; • perform due diligence on third-party vendors and, based on our risk assessment, put in place contractual undertakings and oversight to manage and reduce the risks associated with third-party vendors; • run tabletop exercises to simulate a response to a cybersecurity incident and use the findings to improve our technologies, methods and processes; • conduct regular risk assessments of our information systems to identify weaknesses, and develop and implement mitigations to improve our cybersecurity and information security program; • conduct regular security assessments, vulnerability scans, and penetration tests (including by third-party assessment firms) of products systems and internal systems to discover vulnerabilities and apply appropriate mitigations within standardized timelines; • maintain, implement, evaluate and update our cybersecurity technologies to address threats and vulnerabilities; and • carry information security risk insurance that provides protection against the potential losses arising from a cybersecurity incident. Third-Party Monitoring and External Reviews Axon utilizes the assistance of third-party technology and providers to support our objective of protecting our information, information systems and network. Services provided by third parties to assess the performance of our cybersecurity risk management systems and procedures and to identify cybersecurity risks to the Company include assessing products and internal systems for vulnerabilities, incident response services such as computer forensics, internal and external audits for security certifications globally and overall security program maturity evaluations. Axon and our service providers have also developed systems and processes that are designed to protect our and our customers’ data, to prevent data loss, and to prevent or detect cybersecurity threats and incidents. Material findings, notable weaknesses and suggestions are presented to the Enterprise Risk and Compliance Committee of the Company’s Board of Directors (the “ERC Committee”) as discussed below.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our business is highly dependent on our information systems, including our ability to operate them effectively and to successfully implement new technologies, methods and processes, as well as adequate controls and cybersecurity incident recovery plans. We rely on our information systems to manage our business, data, communications, supply chain, ordering, pricing, billing, inventory replenishment, accounting functions and other processes. In addition, we must protect the confidentiality and integrity of the data of our business, employees, customers and other third parties. Our business involves the collection, processing, storage and transmission of personally identifiable information and other sensitive and confidential information.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	true
Cybersecurity Risk Board of Directors Oversight [Text Block]	Board of Directors Oversight As a part of its oversight of the key risks facing Axon, our Board of Directors devotes significant time and attention to data and systems protection, including cybersecurity and information security risk. While the Audit Committee of the Company’s Board of Directors (the “Audit Committee”) reviews any significant legal, compliance or regulatory matters that may have a material impact on our business, financial statements or compliance policies generally, it does so in consultation with our ERC Committee with respect to any such matters that involve cybersecurity, data privacy or information technology. The Chair of our ERC Committee is also a member of our Audit Committee, which facilitates close coordination between the two committees on cybersecurity, data privacy and information technology matters.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our cybersecurity and information security program, which includes data privacy, is the responsibility of our Chief Information Security Officer (“CISO”), who oversees our global information security program. Our current CISO has served in various information technology and information security roles over the past 20 years including roles at Netflix, Salesforce and Facebook, and has served as CISO since February 2024. He also has relevant degrees and certifications, including a Master of Science degree in Information Assurance from Iowa State University. The information security program has been built over the last 10 years under the leadership of experienced Information Security professionals.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our cybersecurity and information security program, which includes data privacy, is the responsibility of our Chief Information Security Officer (“CISO”), who oversees our global information security program. Our current CISO has served in various information technology and information security roles over the past 20 years including roles at Netflix, Salesforce and Facebook, and has served as CISO since February 2024. He also has relevant degrees and certifications, including a Master of Science degree in Information Assurance from Iowa State University. The information security program has been built over the last 10 years under the leadership of experienced Information Security professionals. Our CISO attends quarterly meetings of our Disclosure Committee and provides input on disclosures in our Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, including the relevant risk factors set forth therein. Our CISO, along with the Information Security Team, also leads our Security Incident Response Team, which is responsible for investigating suspected cybersecurity threats and incidents. In the event of a possibly material cybersecurity incident, the Information Security Team also includes the following executive team members: Corporate General Counsel, Chief Legal Officer, Chief Accounting Officer, Chief Operating Officer & Chief Financial Officer and, to the extent practicable or relevant, other senior executives.
Cybersecurity Risk Role of Management [Text Block]	Cybersecurity Management Team Our cybersecurity and information security program, which includes data privacy, is the responsibility of our Chief Information Security Officer (“CISO”), who oversees our global information security program. Our current CISO has served in various information technology and information security roles over the past 20 years including roles at Netflix, Salesforce and Facebook, and has served as CISO since February 2024. He also has relevant degrees and certifications, including a Master of Science degree in Information Assurance from Iowa State University. The information security program has been built over the last 10 years under the leadership of experienced Information Security professionals. Our CISO attends quarterly meetings of our Disclosure Committee and provides input on disclosures in our Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, including the relevant risk factors set forth therein. Our CISO, along with the Information Security Team, also leads our Security Incident Response Team, which is responsible for investigating suspected cybersecurity threats and incidents. In the event of a possibly material cybersecurity incident, the Information Security Team also includes the following executive team members: Corporate General Counsel, Chief Legal Officer, Chief Accounting Officer, Chief Operating Officer & Chief Financial Officer and, to the extent practicable or relevant, other senior executives. Our ERC Committee oversees our overall approach to enterprise risk management, of which cybersecurity is an important component. The ERC Committee and its Chair, in coordination with the Information Security Team and CISO, regularly review the categories of risk the Company faces, including any cybersecurity risk exposures, as well as the likelihood of occurrence, the potential impact of those risks, and the steps management has taken to monitor, mitigate and control such exposures. To facilitate these reviews, the Information Security Team and CISO report at least quarterly to the ERC Committee with respect to cybersecurity risks, including those identified through review of our business, of rising threats in the industry, and of the current state of our cybersecurity and information security program. The ERC Committee makes regular reports to the full Board of Directors regarding updates on cybersecurity and other risks. Incident Response and Assessment Policies and Procedures Axon has implemented our cybersecurity and information security program and cybersecurity incident response plan to protect our and our customers’ data from, and mitigate the effects of, unintentional disclosure as well as cybersecurity threats and incidents of all severity levels. Our program and response plan outline actions to be taken after identifying a suspected cybersecurity threat or incident and the people responsible for managing those actions. We have also implemented disclosure controls and procedures for determining the materiality of a cybersecurity incident to outline disclosure and communications responsibilities during cybersecurity incidents of all severity levels. In the event of a possibly material cyber incident, the Security Incident Response Team, under the direction of the Corporate General Counsel and/or the Chief Legal Officer, would collect and document information relevant to materiality and make a threshold determination as to whether such cybersecurity incident (including those occurring on the information systems of third parties) is potentially material. The Security Incident Response Team would meet with the Chair of the ERC Committee to review the preliminary findings of the Security Incident Response Team, including the possible factors in determining materiality. If the Security Incident Response Team and the Chair of the ERC Committee determine that the cybersecurity incident warrants further review after consideration of such findings and factors, the Audit Committee would be convened for a meeting (to which all members of the ERC Committee would be invited) to review the cybersecurity incident and the findings of the Security Incident Response Team and the Chair of the ERC Committee. The Audit Committee would then make a materiality determination consistent with SEC guidance and by considering relevant quantitative and qualitative factors, informed by any recommendations of the ERC Committee and/or its Chair.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our cybersecurity and information security program, which includes data privacy, is the responsibility of our Chief Information Security Officer (“CISO”), who oversees our global information security program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our current CISO has served in various information technology and information security roles over the past 20 years including roles at Netflix, Salesforce and Facebook, and has served as CISO since February 2024. He also has relevant degrees and certifications, including a Master of Science degree in Information Assurance from Iowa State University. The information security program has been built over the last 10 years under the leadership of experienced Information Security professionals.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our cybersecurity and information security program, which includes data privacy, is the responsibility of our Chief Information Security Officer (“CISO”), who oversees our global information security program. Our current CISO has served in various information technology and information security roles over the past 20 years including roles at Netflix, Salesforce and Facebook, and has served as CISO since February 2024. He also has relevant degrees and certifications, including a Master of Science degree in Information Assurance from Iowa State University. The information security program has been built over the last 10 years under the leadership of experienced Information Security professionals. Our CISO attends quarterly meetings of our Disclosure Committee and provides input on disclosures in our Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, including the relevant risk factors set forth therein. Our CISO, along with the Information Security Team, also leads our Security Incident Response Team, which is responsible for investigating suspected cybersecurity threats and incidents. In the event of a possibly material cybersecurity incident, the Information Security Team also includes the following executive team members: Corporate General Counsel, Chief Legal Officer, Chief Accounting Officer, Chief Operating Officer & Chief Financial Officer and, to the extent practicable or relevant, other senior executives.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The accompanying 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	Basis of Presentation and Use of Estimates The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions in these consolidated financial statements include: • revenue recognition, • stock-based compensation, • business combinations, • 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. We believe that estimates used in the preparation of these consolidated financial statements are reasonable; however, actual results could differ materially from those estimates.
Revision of Previously Issued Financial Statements and Out of Period Adjustment	Revision of Previously Issued Financial Statements In preparing the condensed consolidated financial statements as of 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. 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 correct the prior period amounts presented in these financial statements accordingly. Furthermore, 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 250, Accounting Changes and Error Corrections. Based on this assessment, we concluded that the error correction is not material to any previously issued interim or annual financial statements on either a quantitative or qualitative basis. A summary of the revisions to the previously reported financial information is included in Note 23 and Note 24. Out of Period Adjustment During the 2024 year-end close process, we identified immaterial errors in our previously issued financial statements related to accounting for certain contract terms and conditions in accordance with ASC 606. We assessed the materiality of the errors in combination with the errors described above 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 and concluded that the errors are not material, individually and in the aggrega
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist of accounts and notes receivable, contract assets and cash. Historically, we have experienced an immaterial level of write-offs related to uncollectible accounts. Major Customers and Suppliers No customer represented more than 10% of total net sales for the years ended December 31, 2024, 2023 or 2022. At December 31, 2024 and 2023, no customer represented more than 10% of the aggregate balance of accounts and notes receivable and contract assets. For additional details, refer to Note 2. 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, Thailand and the Republic of Korea. We may source from other countries as well. Although we currently obtain components from single source suppliers, we own substantially all injection-molded component tooling, designs and test fixtures used in production for all custom components. As a result, we believe we could obtain alternative suppliers in most cases. 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.
Segment Information	Segment Information 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 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 provided to our Chief Executive Officer who is our chief operating decision maker (“CODM”). In deciding how to allocate resources and assess performance, the CODM reviews adjusted gross margin by operating segment, consolidated financials and revenue by major geography, and product and service lines. Specifically, the CODM reviews adjusted gross margin by segment to evaluate segment profitability, identify cost trends and make operational decisions to support our segments. Consolidated financials provide a holistic view of our overall financial health to guide capital allocation and entity wide decisions. Disaggregated views of revenue by major geography and product line support the evaluation of specific market and product performance to understand customer trends. There are no operating segments that are aggregated. Furthermore, there are no inter-segment sales. Assets and other expense items, such as research and development and selling, general, and administrative expenses, are not provided to the CODM by segment, as our CODM does not evaluate our operating segments using this discrete information. As such, these items are not relevant to adjusted gross margin leveraged by the CODM to assess segment performance. As a result, they are not disclosed by segment. We perform an analysis of our reportable segments at least annually. The vast majority of our long-lived assets, including property, plant and equipment and right-of-use lease assets are located within the United States. International long-lived assets are immaterial. Additionally, the majority of our revenues are generated within the United States. During the year ended December 31, 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, amortization of acquired intangible assets and inventory step-up amortization related to acquisitions. Each of the aforementioned components of our segment measure of profit and loss, adjusted gross margin, are included within other segment items. 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 years ended December 31, 2023 and 2022 to conform to the new presentati on. For additional details, refer to Note 20.
Geographic Information	Geographic Information The majority of our sales to international customers are transacted in foreign currencies and are attributed to each country based on the shipping address of the distributor or customer. For the years ended December 31, 2024, 2023 and 2022, no individual country outside the United States represented more than 10% of net sales. Substantially all of ou r assets are located in the United States. For additional details, refer to Note 2.
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments We have cash, cash equivalents and investments, which at December 31, 2024 comprised cash, money market funds, commercial paper, corporate bonds, term deposits, U.S. government bonds, U.S. Treasury bills, and agency bonds. Cash equivalents and investments at December 31, 2023 also included U.S. Treasury inflation-protected securities. We place our cash and cash equivalents with high quality financial institutions. Although we deposit our cash with multiple financial institutions, our deposits regularly exceed federally insured limits. Cash and cash equivalents include funds on-hand and highly liquid investments purchased with initial maturity of three months or less. Short-term investments include securities with an expected maturity date within one year of the balance sheet date that do not meet the definition of a cash equivalent, and long-term investments are securities with an expected maturity date greater than one year and less than three years in accordance with our investment policy. We report available-for-sale investments at fair value as of each balance sheet date and record any unrealized gains or losses within accumulated other comprehensive loss as a component of stockholders’ equity. The cost of securities sold is determined on a specific identification basis, and realized gains and losses are included in other income (loss), net within the consolidated statements of operations. Income tax effects are released from accumulated other comprehensive loss for unrealized gains or losses when the gains or losses are realized and are taxed at the statutory rate based on jurisdiction of the underlying transaction. When the fair value is below the amortized cost of an available-for-sale investment, an estimate of expected credit losses is made. Credit losses are recognized through the use of an allowance for credit losses account in the consolidated balance sheets and subsequent improvements in expected credit losses are recognized as a reversal of an amount in the allowance account. If we have the intent to sell the security or it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis, then the allowance for the credit loss is written-off and the excess of the amortized cost basis of the asset over its fair value is recorded in the consolidated statements of operations. 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. There were no credit losses recorded on our investment portfolio during the years ended December 31, 2024, 2023, and 2022.
Restricted Cash	Restricted Cash
Inventory	Inventory Inventories are stated at the lower of cost or net realizable value, using a standard cost method which approximates the first-in, first-out method. Additional provisions are made to reduce excess, obsolete or slow-moving inventories to their net realizable value. These provisions are based on our 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. Raw materials include an immaterial amount of work-in-process inventory.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Additions and improvements are capitalized, while ordinary maintenance and repair expenditures are charged to expense as incurred. Depreciation is calculated using the straight-line method over the estimated economic life.
Software Development Costs	Software Development Costs We expense software development costs, including costs to develop software products or the software component of products and services to be marketed to external users, before technological feasibility of such products is reached. Software development costs also include costs to develop software programs to be used solely to meet our internal needs and applications. We capitalize development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the intended function. Additionally, we capitalize qualifying costs incurred for upgrades and enhancements to existing software that result in additional functionality. Costs related to preliminary project planning activities, post-implementation activities, maintenance and minor modifications are expensed as incurred. Internal-use software development costs are amortized on a straight-line basis over the estimated useful life of the software. We evaluate the useful lives of these assets on an annual basis and test for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.
Leases	Leases We determine if a contract contains a lease at inception. At commencement, lease contracts are evaluated for classification as an operating or finance lease. Operating lease right-of-use (“ROU”) assets and liabilities are recognized based on the present value of future minimum lease payments over the lease term at the commencement date. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Additionally, we use the portfolio approach in determining the discount rate used to present value lease payments. We give consideration to our 2027 Notes, line of credit, macroeconomic factors, as well as publicly available data for instruments with similar characteristics when estimating our incremental borrowing rates. The operating lease ROU asset also includes any lease payments made and initial direct costs incurred and excludes lease incentives. We have operating leases for office space, manufacturing and logistical functions. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. We do not have any material variable lease costs associated with our operating leases. For leases beginning on or after January 1, 2019, we account for lease components separately from non-lease components for all asset classes. Our operating leases have remaining terms of less than o ne to approximately 12 years, some of which include one or more options to renew for up to five years, and some of which include options to terminate the leases within one year. The exercise of lease renewal options is at our sole discretion and such options are included in ROU assets and liabilities for renewal periods that are reasonably certain of exercise. Certain of these lease agreements include stated rental payment escalations. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We may enter into sales-type finance leases as an alternative means to realize value for our body cameras and related accessories. For sales-type finance leases where we are the lessor, we recognize our selling profit on a gross basis at lease commencement within net sales from products and cost of product sales, respectively. Interest income is recognized over the lease term within interest income, net. The current and long-term portions of our investment in sales-type leases are included in prepaid expenses and other current assets and other long-term assets, respectively. Given the immateriality of
Valuation of Goodwill, Intangibles and Long-lived Assets	Valuation of Goodwill, Intangible 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 using the straight-line method over
Customer Deposits	Customer Deposits We require deposits in advance of shipment for certain customer sales orders. Additionally, customers may elect to make deposits with us related to contracts for our products and services that were not executed as of the end of a reporting period. Customer deposits are included in other current liabilities in the consolidated balance sheets.
Revenue Recognition, Receivables, Contract Assets, and Deferred Revenue	Revenue Recognition, Receivables, Contract Assets, and Deferred Revenue We derive revenue from two primary sources: (1) the sale of physical products, including CEDs, Axon cameras, Axon Signal-enabled devices, corresponding hardware extended warranties, and related accessories such as Axon docks, cartridges and batteries, among others, and (2) subscriptions to our Axon Evidence digital evidence management SaaS offering (including data storage fees and other ancillary services), which includes varying levels of support. To a lesser extent, we also recognize revenue from training, professional services and other software and SaaS services. We apply the five-step model outlined in ASC 606. For additional discussion, refer to Note 2. We enter into contracts that can include various combinations of products and services, each of which is generally distinct and accounted for as a separate performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. For contracts with multiple performance obligations, we allocate the contract transaction price to each performance obligation using our estimate of the standalone selling price (“SSP”) of each distinct good or service in the contract. Revenues are recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. Performance obligations to deliver products, including CEDs, Axon cameras and related accessories, such as docks, cartridges and batteries, are generally satisfied at the point in time we ship the product, as this is when the customer obtains control of the asset under our standard terms and conditions. In certain contracts with non-standard terms and conditions, these performance obligations may not be satisfied until delivery or formal customer acceptance occurs. Performance obligations to fulfill service-type extended warranties and provide our SaaS offerings, including Axon Evidence and other cloud services, are generally satisfied over time as the customer receives and consumes the benefits of these services over the stated service period. We determine the term of our arrangements based on identifying the contract with the customer. In certain of our arrangements, the customer may have termination rights. In these instances, we determine if there is a substantive penalty. For contracts with a substantive penalty, the accounting term will be the legal contract term, inclusive of the periods for which the customer termination rights exist. In these contracts with no substantive penalty, we also consider if the option for our customer to purchase additional goods or services represents an additional performance obligation in the form of a material right. While our products and services may be sold on a standalone basis, we generally combine our hardware products and services together and sell them to our customers in single transactions where the customer can make payments over a multi-year period. These sales may include payments for upfront hardware and services, as well as payments for hardware and services to be provided at a future date. Additionally, we offer customers the ability to purchase CED cartridges and certain services on an unlimited basis over the contractual term. Due to the nature of these arrangements whereby we are obligated to deliver products at the customer’s request, we account for these arrangements as stand-ready obligations, and recognize revenue ratably over the contract period. Cost of product sales is recognized when control of hardware products or accessories has transferred to the customer. We recognize shipping costs as an expense in cost of product sales when the control of hardware products or accessories has transferred to the customer. Sales tax collected on sales is netted against government remittances and, thus, recorded on a net basis. Payment terms and conditions vary by contract type and geography, but our standard terms are that payments are due within 30 days from the date of invoice. The timing of revenue recognition may differ from the timing of invoicing to customers. We generally have an unconditional right to consideration when we invoice our customers and record a receivable. We record a contract asset when revenue is recognized prior to invoicing, or a contract liability (deferred revenue) when revenue will be recognized subsequent to invoicing. Contract asset amounts that will be invoiced during the subsequent 12-month period from the balance sheet date are classified as current assets and the remaining portion is recorded within other long-term assets on our consolidated balance sheets. Deferred revenue that is expected to be recognized during the subsequent 12-month period from the balance sheet date is recorded as current deferred revenue and the remaining portion is recorded as long-term deferred revenue. Generally, customers are billed in annual installments. Contract assets generally result from our subscription programs where we satisfy a hardware performance obligation upon shipment to the customer, and the right to the portion of the transaction price allocated to that hardware performance obligation is conditional on our future performance of a SaaS service obligation under the contract. We recognize a portion of the amount allocated to hardware products shipped to the customer as accounts receivable when invoiced to the customer, and record the remaining allocated value as a contract asset as we have generally fulfilled our hardware performance obligation upon shipment. Unbilled accounts receivable expected to be invoiced and collected within 12 mo nths were $5.6 million as o f December 31, 2024, and were included in accounts and notes receivable, net on our consolidated balance sheet. Contract liabilities generally consist of deferred revenue on our subscription programs where we generally invoice customers at the beginning of each annual contract period and record a receivable at the time of invoicing when there is an unconditional right to consideration. Deferred revenue is composed mainly of unearned revenue related to our Axon Evidence SaaS platform, secure cloud-based storage, service-type extended warranties, stand-ready obligations in our cartridge programs, and rights to future CED, Axon camera and related accessories hardware in our subscription programs. For additional discussion, refer to Note 2. Reserve for Expected Credit Losses
Deferred Commissions	Deferred Commissions We recognize an asset for the incremental costs of obtaining a contract with a customer, which consist primarily of sales commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract and amortized consistent with the expected recognition timing of the revenue for the underlying performance obligations. For contract costs related to performance obligations with an amortization period of one year or less, we apply the practical expedient to expense these sales commissions when incurred. These costs are recognized as incurred within SG&A expenses in the consolidated statements of operations and comprehensive income. For additional discussion, refer to Note 2.
Cost of Product and Service Sales	Cost of Product and Service Sales Cost of product sales represents manufacturing costs consisting of materials, labor and overhead related to finished goods and components. Shipping costs incurred related to product delivery are also included in cost of products sold. Cost of service sales includes third-party cloud services, software maintenance and support costs – including personnel costs, associated with supporting Evidence.com and other software related services.
Advertising Costs	Advertising Costs We expense advertising costs in the period in which they are incurred. We incurred advertising costs of $4.4 million, $1.9 million and $2.3 million in the years ended December 31, 2024, 2023 and 2022, respectively. Advertising costs are included within SG&A expenses in the consolidated statements of operations.
Warranty Reserves	Warranty Reserves We warranty our 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 our 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 sales when the costs become probable and can be reasonably estimated.
Research and Development Expenses	Research and Development Expenses
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement amounts of assets and liabilities and their respective tax bases, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in future years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced through the establishment of a valuation allowance if, based upon available evidence, it is determined that it is more likely than not that the deferred tax assets will not be realized. We use factors to assess the likelihood of realization of deferred tax assets such as the forecast of future taxable income and available tax planning that could be implemented to realize the deferred tax assets.
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. We have cash equivalents and investments, which at December 31, 2024 comprised money market funds, commercial paper, corporate bonds, term deposits, U.S. government bonds, U.S. Treasury bills, and agency bonds. For additional details regarding our cash equivalents and investments, refer to Note 3. Debt investments are classified as available-for-sale and realized gains and losses are recorded using the specific identification method. We have corporate-owned life insurance policies, included in the balance of other long-term assets, which are used to fund our deferred compensation plan. The balances of these policies as of December 31, 2024 and 2023 were $8.4 million and $7.6 million, respectively. We determine the fair values of our 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 consolidated statements 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 December 31, 2024 and 2023 . The estimated fair value of the investments was determined based on Level 3 inputs. In determining the estimated fair value of our strategic investments in privately held companies, we utilize observable data available to us as discussed further in Note 8. The fair value of our 0.50% convertible senior notes due 2027 (the "Notes" or "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 December 31, 2024 and 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 consolidated balance sheets.
Stock-Based Compensation	Stock-Based Compensation We have historically utilized stock-based compensation for key employees and non-employee directors as a means of attracting and retaining talented personnel. We recognize compensation expense for our stock-based compensation program, which includes grants of RSUs, PSUs and stock options. Our stock-based compensation awards are classified as equity and measured at the fair market value of the underlying common stock at the grant date. When determining the grant date fair value of stock-based awards, we consider whether an adjustment is required to the observable market price or volatility of our common stock used in the valuation as a result of material non-public information. RSUs Stock-based compensation expense for RSUs is measured based on the closing fair market value of our common stock on the date of grant. We recognize stock-based compensation expense over the award’s requisite service period using the straight-line attribution method for service-based RSUs. Service-based grants generally have a vesting period of one to four years and a contractual maturity of ten years. We account for f orfeitures as they occur as a reduction to stock-based compensation expense and additional paid-in-capital. PSUs Stock-based compensation expense for PSUs is measured based on the closing fair market value of our common stock on the date of grant. We recognize stock-based compensation expense over the award's requisite service period, which is defined as the longest explicit, implicit or derived service period based on our estimate of the probability of the performance criteria being satisfied, adjusted at each balance sheet date. The vesting of our PSUs is generally contingent upon the achievement of certain performance criteria related to our operating performance, as well as successful and timely development and market acceptance of future product introductions. For PSUs containing only performance conditions, compensation cost is recognized using the graded attribution model over the explicit or implicit service period. In addition, certain of the PSUs have further service requirements subsequent to achievement of the performance criteria. Performance-based grants generally have vesting periods ranging from one discussed further below. 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 shares of common stock reserved for grants of awards of XSUs to employees. The grants of XSUs (the “2024 XSUs”) are grants of performance-based RSUs. The program includes seven substantially equal tranches that will vest upon certification by the Compensation Committee of the Board of Directors (the “ Compensation Committee ” ) upon achievement of three independent vesting conditions: (1) stock price goals; (2) operational goals; and (3) minimum service conditions. Additionally, on May 10, 2024, shareholders approved a grant of XSUs to our CEO, Patrick W. Smith (the “2024 CEO Performance Award”). The stock price goals and operational goals applicable to 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 XSUs 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 3.6% – 4.5%, expected volatility of 41.0% – 46.8%, expected term of 8.0 – 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 41.6%. 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 XSUs 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 XSUs granted under the 2024 Employee XSP or the 2024 CEO Performance Award vests unless the applicable 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 December 31, 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. Refer to Note 16 for further discussion. Stock Options On May 24, 2018, our shareholders approved the Board of Directors’ grant of 6.4 million performance-based stock options to our CEO, Patrick W. Smith, (the “2018 CEO Performance Award”). The 2018 CEO Performance Award consisted of 12 substantially equal tranches with a vesting schedule based entirely on the attainment of both operational goals (performance conditions) and market capitalization goals (market conditions), assuming continued employment either as the Chief Executive Officer or as both Executive Chairman and Chief Product Officer and service through each vesting date. For performance-based stock options with a vesting schedule based entirely on the attainment of both performance and market conditions, stock-based compensation expense was recognized for each pair of performance and market conditions over the longer of the expected achievement period of the performance and market conditions, beginning at the point in time that the relevant performance condition is considered probable of achievement. The fair value of such awards was esti mated on the grant date using Monte Carlo simulations.
Income per Common Share	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-based awards, our 2027 Notes, and warrants to acquire shares of our common stock (the "Warrants" or "2027 Warrants"). The effects of outstanding stock-based awards, our 2027 Notes, and our 2027 Warrants are excluded from the
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires improvements to annual and interim segment disclosures, primarily through enhanced disclosures around significant segment expenses. We adopted this ASU effective for our Annual Report on Form 10-K for the year ending December 31, 2024, and as a result, enhanced certain qualitative considerations within "Segment Information" of Note 1. There were no significant impacts to our existing quantitative disclosures as a result of our adoption of this ASU. 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 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. In November 2024, the FASB issued ASU 2024-03, Income Statement (Topic 220): Reporting Comprehensive Income - Expense Disaggregation Disclosures. ASU 2024-03 is intended to enhance level of detail disclosed related to expense categories and provide additional disclosure of expenses by nature. The provisions of ASU 2024-03 are effective for our Annual Report on Form 10-K for the year ending December 31, 2027, with early adoption permitted. We are currently evaluating the impact of this update on our consolidated financial statements. In

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Changes in our Estimated Warranty Reserve	Changes in our estimated warranty reserve were as follows (in thousands): Year Ended December 31, 2024 2023 2022 Balance, beginning of period $ 7,374 $ 811 $ 2,822 Utilization of reserve (5,992) (1,499) (2,209) Adjustment to reserve due to business combinations 1,311 — — Warranty expense 5,591 8,062 198 Balance, end of period $ 8,284 $ 7,374 $ 811
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 is as follows (in thousands except per share data): For the Year Ended December 31, 2024 2023 2022 Numerator for basic and diluted earnings per share: Net income $ 377,034 $ 175,783 $ 146,930 Denominator: Weighted average shares outstanding 75,748 74,195 71,093 Dilutive effect of stock-based awards 1,435 1,261 1,441 Dilutive effect of 2027 Notes 1,139 — — Dilutive effect of 2027 Warrants 236 — — Diluted weighted average shares outstanding 78,558 75,456 72,534 Net income per common share: Basic $ 4.98 $ 2.37 $ 2.07 Diluted $ 4.80 $ 2.33 $ 2.03
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): For the Year Ended December 31, 2024 2023 2022 Stock-based awards 4,132 1,014 3,264 2027 Notes 1,877 3,017 3,017 2027 Warrants 2,781 3,017 3,017 Total potentially dilutive securities 8,790 7,048 9,298

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Product and Service Offering and Geography	The following table presents our revenues by primary product and service offering and reportable segment (in thousands): Year Ended December 31, 2024 Year Ended December 31, 2023 TASER Software and Total TASER Software and Total TASER Devices (Professional) $ 453,055 $ — $ 453,055 $ 333,923 $ — $ 333,923 Cartridges 246,766 — 246,766 193,285 — 193,285 Axon Evidence and Cloud Services 54,913 808,256 863,169 35,680 566,003 601,683 Extended Warranties 37,515 66,141 103,656 31,689 55,154 86,843 Axon Body Cameras and Accessories — 246,855 246,855 — 183,023 183,023 Axon Fleet Systems — 104,890 104,890 — 121,842 121,842 Other (1) (2) 26,424 37,711 64,135 18,933 21,167 40,100 Total $ 818,673 $ 1,263,853 $ 2,082,526 $ 613,510 $ 947,189 $ 1,560,699 Year Ended December 31, 2022 TASER Software and Total TASER Devices (Professional) $ 282,698 $ — $ 282,698 Cartridges 181,686 — 181,686 Axon Evidence and Cloud Services 18,182 367,852 386,034 Extended Warranties 29,056 45,507 74,563 Axon Body Cameras and Accessories — 157,281 157,281 Axon Fleet Systems — 63,017 63,017 Other (1) (2) 19,422 22,442 41,864 Total $ 531,044 $ 656,099 $ 1,187,143 (1) TASER segment “Other” includes smaller categories, such as 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, partners' contra-revenue and other sensors and equipment. The following table presents our revenues disaggregated by geography (in thousands): Year Ended December 31, 2024 2023 2022 United States $ 1,775,194 85 % $ 1,335,516 86 % $ 985,183 83 % Other countries 307,332 15 225,183 14 201,960 17 Total $ 2,082,526 100 % $ 1,560,699 100 % $ 1,187,143 100 %
Schedule 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 year ended December 31, 2024 (in thousands): Year Ended December 31, 2024 2023 2022 Contract assets, net $ 487,805 $ 371,614 $ 249,001 Contract liabilities (deferred revenue) 973,640 741,316 593,038 Revenue recognized in the period from: Amounts included in contract liabilities at the beginning of the period 499,727 357,979 258,063 Contract liabilities (deferred revenue) consisted of the following (in thousands): December 31, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total Warranty: TASER $ 16,107 $ 19,288 $ 35,395 $ 14,666 $ 18,828 $ 33,494 Software and Sensors 36,842 19,706 56,548 22,642 8,165 30,807 52,949 38,994 91,943 37,308 26,993 64,301 Hardware: TASER 49,195 35,116 84,311 35,845 29,689 65,534 Software and Sensors 89,992 144,191 234,183 63,299 117,024 180,323 139,187 179,307 318,494 99,144 146,713 245,857 Services: TASER 9,635 6,134 15,769 7,832 3,983 11,815 Software and Sensors 411,184 136,250 547,434 326,131 93,212 419,343 420,819 142,384 563,203 333,963 97,195 431,158 Total $ 612,955 $ 360,685 $ 973,640 $ 470,415 $ 270,901 $ 741,316 December 31, 2024 December 31, 2023 Current Long-Term Total Current Long-Term Total TASER $ 74,937 $ 60,538 $ 135,475 $ 58,343 $ 52,500 $ 110,843 Software and Sensors 538,018 300,147 838,165 412,072 218,401 630,473 Total $ 612,955 $ 360,685 $ 973,640 $ 470,415 $ 270,901 $ 741,316
Schedule Capitalized Contract Cost	As of December 31, 2024, our assets for costs to obtain contracts were as follows (in thousands): December 31, 2024 December 31, 2023 Current deferred commissions (1) $ 59,025 $ 46,224 Deferred commissions, net of current portion (2) 154,894 119,084 $ 213,919 $ 165,308 (1) Current deferred commissions are included within prepaid expenses and other current assets on the consolidated balance sheets. (2) Deferred commissions, net of current portion, are included in other long-term assets on the consolidated balance sheets.

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents, Marketable Securities, and Available-for-Sale Investments	The following table summarizes our cash, cash equivalents, marketable securities and available-for-sale investments at December 31, 2024 (in thousands): As of December 31, 2024 Amortized Gross Gross Fair Value Cash and Marketable Short-Term Cash $ 94,919 $ — $ — $ 94,919 $ 94,919 $ — $ — Level 1: Money market funds 322,874 — — 322,874 322,874 — — Agency bonds 996 — — 996 — — 996 U.S. Government bonds 75,994 7 (5) 75,996 — — 75,996 U.S. Treasury bills 14,431 25 — 14,456 — — 14,456 Marketable securities 90,000 108,270 — 198,270 — 198,270 — Subtotal 504,295 108,302 (5) 612,592 322,874 198,270 91,448 Level 2: Term deposits 136,480 — — 136,480 11,480 — 125,000 Corporate bonds 122,018 10 (63) 121,965 24,075 — 97,890 Commercial paper 20,393 — — 20,393 1,496 — 18,897 Subtotal 278,891 10 (63) 278,838 37,051 — 241,787 Total $ 878,105 $ 108,312 $ (68) $ 986,349 $ 454,844 $ 198,270 $ 333,235 The following table summarizes our cash, cash equivalents and available-for-sale investments at December 31, 2023 (in thousands): 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 bonds 238,747 120 (237) 238,630 — — 238,630 U.S. 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)	12 Months Ended
	Dec. 31, 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 is 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): Year Ended December 31, 2024 Year Ended December 31, 2023 Year Ended December 31, 2022 United States Other countries Total United States Other countries Total United States Other countries Total Balance, beginning of period $ 3,369 $ 597 $ 3,966 $ 3,064 $ 566 $ 3,630 $ 3,171 $ 178 $ 3,349 Provision for expected credit losses 3,725 308 4,033 815 269 1,084 309 391 700 Amounts written off charged against the allowance (2,309) (95) (2,404) (510) (244) (754) (416) — (416) Other, including foreign currency translation — 14 14 — 6 6 — (3) (3) Balance, end of period (1) $ 4,785 $ 824 $ 5,609 $ 3,369 $ 597 $ 3,966 $ 3,064 $ 566 $ 3,630 (1) Ending balance includes allowance for credit losses recorded in other current liabilities on the consolidated balance sheets, which is related to off-balance-sheet credit exposure.
Schedule of Allowance for Expected Credit Losses for each type of Customer Receivable	As of December 31, 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): December 31, 2024 December 31, 2023 Accounts receivable and notes receivable, current $ 3,322 $ 2,392 Contract assets, net 2,239 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 $ 5,609 $ 3,966

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Raw materials $ 93,070 $ 104,112 Finished goods 172,246 165,743 Total inventory $ 265,316 $ 269,855

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): Estimated December 31, 2024 December 31, 2023 Land N/A $ 51,612 $ 51,612 Building and leasehold improvements 3 - 39 years 52,065 32,092 Production equipment 3 - 5 years 148,922 105,245 Computers, equipment and software 3 - 5 years 34,429 30,778 Furniture and office equipment 3 - 5 years 10,058 8,383 Vehicles 5 years 8,139 7,451 Capitalized internal software development costs 3 - 5 years 15,906 14,799 Construction-in-process N/A 62,178 55,397 Total cost 383,309 305,757 Less: Accumulated depreciation (135,985) (105,224) Property and equipment, net $ 247,324 $ 200,533

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2024 and December 31, 2023 were as follows (in thousands): Year Ended December 31, 2024 Year Ended December 31, 2023 TASER Software and Total TASER Software and Total Balance, beginning of period $ 2,984 $ 54,961 $ 57,945 $ 2,957 $ 42,026 $ 44,983 Goodwill acquired — 701,695 701,695 — 12,751 12,751 Purchase accounting adjustments — (479) (479) — (19) (19) Foreign currency translation adjustments (131) (2,192) (2,323) 27 203 230 Balance, end of period $ 2,853 $ 753,985 $ 756,838 $ 2,984 $ 54,961 $ 57,945
Schedule of Intangible Assets other than Goodwill	Intangible assets (other than goodwill) consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Useful Gross Accumulated Net Gross Accumulated Net Amortizable (definite-lived) intangible assets: Developed technology 3 ‑ 8 years $ 118,322 $ (21,337) $ 96,985 $ 29,402 $ (16,562) $ 12,840 Customer relationships 5 ‑ 10 years 33,223 (4,716) 28,507 5,530 (3,620) 1,910 Issued trademarks 3 ‑ 23 years 6,706 (1,784) 4,922 1,333 (817) 516 Issued patents 8 ‑ 26 years 2,931 (1,470) 1,461 3,222 (1,707) 1,515 Domain names 5 ‑ 10 years 3,043 (2,433) 610 3,043 (2,128) 915 Non-compete agreements — — — 448 (448) — Total amortizable 164,225 (31,740) 132,485 42,978 (25,282) 17,696 Non-amortizable (indefinite-lived) intangible assets: In-process research and development (1) 41,000 — 41,000 — — — Trademarks 1,068 — 1,068 1,068 — 1,068 Patents and trademarks pending 604 — 604 775 — 775 Total non-amortizable 42,672 — 42,672 1,843 — 1,843 Total intangible assets $ 206,897 $ (31,740) $ 175,157 $ 44,821 $ (25,282) $ 19,539 (1) Consists of in-process research and development costs pertaining to the acquisition of Dedrone. For additional details, refer to Note 21.
Schedule of Finite-Lived Intangible Assets	Intangible assets (other than goodwill) consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Useful Gross Accumulated Net Gross Accumulated Net Amortizable (definite-lived) intangible assets: Developed technology 3 ‑ 8 years $ 118,322 $ (21,337) $ 96,985 $ 29,402 $ (16,562) $ 12,840 Customer relationships 5 ‑ 10 years 33,223 (4,716) 28,507 5,530 (3,620) 1,910 Issued trademarks 3 ‑ 23 years 6,706 (1,784) 4,922 1,333 (817) 516 Issued patents 8 ‑ 26 years 2,931 (1,470) 1,461 3,222 (1,707) 1,515 Domain names 5 ‑ 10 years 3,043 (2,433) 610 3,043 (2,128) 915 Non-compete agreements — — — 448 (448) — Total amortizable 164,225 (31,740) 132,485 42,978 (25,282) 17,696 Non-amortizable (indefinite-lived) intangible assets: In-process research and development (1) 41,000 — 41,000 — — — Trademarks 1,068 — 1,068 1,068 — 1,068 Patents and trademarks pending 604 — 604 775 — 775 Total non-amortizable 42,672 — 42,672 1,843 — 1,843 Total intangible assets $ 206,897 $ (31,740) $ 175,157 $ 44,821 $ (25,282) $ 19,539 (1) Consists of in-process research and development costs pertaining to the acquisition of Dedrone. For additional details, refer to Note 21.
Schedule of Estimated Amortization Expense of Intangible Assets	Estimated amortization for intangible assets with definite lives for the next five years ended December 31, and thereafter, is as follows (in thousands): 2025 $ 23,850 2026 23,655 2027 22,423 2028 21,437 2029 19,203 Thereafter 21,917 Total $ 132,485

Strategic Investments (Tables)

Strategic Investments (Tables)	12 Months Ended
	Dec. 31, 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): Year Ended December 31, 2024 Year Ended December 31, 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 103,888 2,012 — 7,500 113,400 15,016 1,176 — 16,192 Fair value adjustments: Realized gains (losses) during the period, net 95,429 — (4,279) — 91,150 — — — — Unrealized gains on strategic investments still held at the reporting date 74,784 855 — 1,084 76,723 — — — — Unrealized losses on strategic investments still held at the reporting date (4,093) — (893) — (4,986) (81,196) (1,329) — (82,525) Exercises (163,406) — (12,061) — (175,467) 1,500 — — 1,500 Balance, end of period $ 319,598 $ 4,368 $ — $ 8,584 $ 332,550 $ 212,996 $ 1,501 $ 17,233 $ 231,730 For the debt security strategic investment, we recognized an unrealized gain of $1.1 million for the entire hybrid instrument in other income (loss), net on our consolidated statement of operations during the year ended December 31, 2024. Inception to date Equity investments Warrants Call options Debt investments Total Investments $ 325,105 $ 6,235 $ 17,232 $ 7,500 $ 356,072 Fair value adjustments: Realized gains (losses) on strategic investment transactions, net 107,741 — (4,279) — 103,462 Cumulative unrealized gains (losses) 63,203 88,298 (893) 1,084 151,692 Exercises (161,905) (90,165) (12,060) — (264,130) Sales (14,546) — — — (14,546) Balance, end of period $ 319,598 $ 4,368 $ — $ 8,584 $ 332,550

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	As of December 31, 2024 and December 31, 2023 , the unconsolidated non-public VIEs in which we hold variable interests were as follows (in thousands): December 31, 2024 December 31, 2023 Carrying value of variable interest - assets (1) $ 25,171 $ 4,986 (1) Balance reflects the maximum exposure to loss, which is limited to the carrying value of the interest.

Other Long-Term Assets (Tables)

Other Long-Term Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Long-Term Assets	Other long-term assets consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Deferred commissions $ 154,894 $ 119,084 Operating lease assets 44,567 36,155 Deferred cost of goods sold 14,123 14,388 Cash surrender value of corporate-owned life insurance policies 8,398 7,558 Deferred implementation costs 1,305 2,175 Prepaid expenses, deposits and other 14,333 11,671 Total other long-term assets $ 237,620 $ 191,031

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): December 31, 2024 December 31, 2023 Accrued commissions $ 88,237 $ 58,641 Accrued bonus 59,780 56,188 Accrued income and other taxes 27,863 5,784 Accrued salaries and benefits 25,233 10,807 Accrued inventory in transit 13,101 12,197 Accrued cloud hosting fees 10,673 8,530 Accrued warranty expense 8,284 7,374 Accrued consulting and IT fees 7,846 5,421 Other accrued expenses 38,176 28,608 Total accrued liabilities $ 279,193 $ 193,550

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)	12 Months Ended
	Dec. 31, 2024
Convertible Notes Payable [Abstract]
Schedule of Conversions of Stock	The terms of the Notes allow for conversion into common stock, cash, or a combination of cash and common stock, at our option. 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. December 31, 2024 Maturity Date Initial Conversion Price per Share Initial Conversion Rate per $1,000 Par Value Initial Number of Shares 2027 Notes December 15, 2027 $228.73 4.3720 shares 3,016,680
Schedule of Net Carrying Amount of Convertible Senior Notes	The following table summarizes the carrying value of the Notes (in thousands): December 31, 2024 December 31, 2023 Principal $ 690,000 $ 690,000 Unamortized debt issuance costs (9,711) (12,887) Convertible notes carrying amount, net $ 680,289 $ 677,113 We consider the fair value of the Notes to be a Level 2 measurement. The estimated fair value of the Notes at December 31, 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): December 31, 2024 December 31, 2023 2027 Notes $ 1,798.5 $ 873.3
Schedule of Interest Expense of Convertible Senior Notes	Interest expense related to the Notes was as follows (in thousands): December 31, 2024 December 31, 2023 Contractual interest expense $ 3,451 $ 3,450 Amortization of debt issuance costs 3,176 3,126 Total interest expense $ 6,627 $ 6,576
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	Note Warrants Proceeds Shares Strike Price First Expiration 2027 Warrants $ 124,269 3,016,680 $ 338.86 March 15, 2028

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) before Income Tax, Domestic and Foreign	Income before provision (benefit) for income taxes included the following components for the years ended December 31 (in thousands): 2024 2023 2022 United States $ 357,484 $ 134,509 $ 191,353 Foreign 24,020 22,552 4,885 Total $ 381,504 $ 157,061 $ 196,238
Schedule of Significant Components of the Provision (Benefit) for Income Taxes	Significant components of the provision (benefit) for income taxes were as follows for the years ended December 31 (in thousands): 2024 2023 2022 Current: Federal $ 60,924 $ 33,084 $ 10,804 State 18,298 10,371 10,118 Foreign 3,388 2,804 2,892 Total current 82,610 46,259 23,814 Deferred: Federal (63,073) (60,673) 26,180 State (20,838) (9,172) (2,015) Foreign (1,815) 89 (2,146) Total deferred (85,726) (69,756) 22,019 Tax impact of unrecorded tax benefits liability 7,586 4,775 3,475 Provision for (benefit from) income taxes $ 4,470 $ (18,722) $ 49,308
Schedule of Reconciliation of the company's Effective Income Tax Rate to the Federal Statutory Rate	A reconciliation of our effective income tax rate to the federal statutory rate follows for the years ended December 31 (in thousands): 2024 2023 2022 Federal income tax at the statutory rate $ 80,120 $ 32,983 $ 41,224 Excess stock-based compensation benefit (83,748) (106,522) (4,616) Executive compensation limitation 51,858 77,350 5,784 R&D credits (36,571) (26,204) (13,340) Nontaxable gain on investments (19,727) — — Change in unrecognized tax benefits 7,356 4,351 3,215 Other permanent differences 5,176 1,201 1,118 Global intangible low-taxed income 3,081 1,890 653 Foreign derived intangible income deduction (2,558) (961) (2,597) Foreign tax credit (1,914) (1,922) — State income taxes, net of federal benefit 1,713 3,730 7,915 Change in valuation allowance (903) (4,695) 10,216 Tax effects of intercompany transactions (222) (2,033) (417) Difference between statutory and foreign tax rates 801 1,013 (428) Other 8 1,097 581 Provision for (benefit from) income taxes $ 4,470 $ (18,722) $ 49,308 Effective tax rate 1.2 % (11.9) % 25.1 %
Schedule of Components of Deferred Income Tax Assets and Liabilities	Significant components of our deferred income tax assets and liabilities are as follows at December 31, 2024 and December 31, 2023 (in thousands): 2024 2023 Deferred income tax assets: R&D capitalization, net $ 193,265 $ 99,746 Deferred revenue 66,948 59,443 Stock-based compensation 51,088 10,544 Convertible debt, net 31,603 39,649 Reserves, accruals, and other 21,634 12,264 R&D tax credit carryforward 19,100 16,554 Net operating loss carryforward 17,824 2,115 Accrued bonus 12,101 11,253 Lease liability 11,966 9,664 Inventory reserve 5,794 1,986 Deferred compensation 4,021 2,803 Strategic investments — 6,109 Amortization — 4,425 Total gross deferred tax assets 435,344 276,555 Valuation allowance (23,054) (21,600) Total deferred income tax assets, net of valuation allowance 412,290 254,955 Deferred income tax liabilities: Strategic investments (42,260) — Amortization (36,185) — Depreciation (16,739) (14,575) Right of use asset (10,639) (8,404) Prepaid expenses (2,874) (2,223) Customer contract asset (1,174) (690) Goodwill amortization (509) (314) Other — (965) Total deferred income tax liabilities (110,380) (27,171) Net deferred income tax assets $ 301,910 $ 227,784 Deferred taxes are reflected in the consolidated balance sheet as follows: Non-current tax assets (included in deferred tax asset, net) 304,282 227,784 Non-current tax liabilities (included in other long-term liabilities) (2,372) — Total $ 301,910 $ 227,784
Schedule of Valuation Allowance	The following table presents the valuation allowance activity for years ended December 31, 2024, 2023 and 2022 (in thousands): 2024 2023 2022 Balance, beginning of period $ 21,600 $ 26,368 $ 16,168 Tax provision (benefit) (576) (4,262) 10,409 Deductions charged to tax provision / benefit (327) (505) (164) Additions (reversals) to other accounts 2,357 (1) (45) Balance, end of period $ 23,054 $ 21,600 $ 26,368
Schedule of Roll forward of Liability for Unrecognized Tax Benefits exclusive of Accrued Interest	The following table presents a roll forward of our liability for unrecognized tax benefits, exclusive of accrued interest, as of December 31 (in thousands): 2024 2023 2022 Balance, beginning of period $ 25,754 $ 21,492 $ 18,249 Increase (decrease) in previous year tax positions 501 (215) 232 Increase in current year tax positions 7,313 6,963 3,343 Decrease due to lapse of statute of limitations (842) (2,486) (332) Balance, end of period $ 32,726 $ 25,754 $ 21,492

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Equity Compensation Goals	The program includes seven substantially equal tranches that will vest upon certification by the Compensation Committee 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 (2) Employee XSP CEO Award Goal Expiration 1 $1,834 or $382 and $247.40 and June 2025 December 2028 December 31, 2026 2 2,293 or 497 and 309.25 and December 2025 December 2028 December 31, 2027 3 2,866 or 644 and 386.56 and June 2026 December 2029 December 31, 2028 4 3,583 or 834 and 483.20 and December 2026 December 2029 December 31, 2029 5 4,479 or 1,077 and 604.00 and June 2027 December 2030 December 31, 2030 6 5,599 or 1,389 and 755.00 and December 2027 December 2030 December 31, 2031 7 6,999 or 1,739 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 (2)
Schedule of Restricted Stock Unit Activity	The following table summarizes RSU activity for the years ended December 31 (number of units and aggregate intrinsic value in thousands): 2024 2023 2022 Number Weighted Number Weighted Number Weighted Units outstanding, beginning of year 1,615 $ 193.09 1,565 $ 145.48 1,115 $ 133.40 Granted 1,131 440.76 915 227.62 1,142 143.03 Released (909) 196.35 (740) 140.81 (541) 117.49 Forfeited (153) 208.12 (125) 157.95 (151) 138.99 Units outstanding, end of year 1,684 356.31 1,615 193.09 1,565 145.48 Aggregate intrinsic value at year end $ 1,000,769
Schedule of Performance Stock Unit Activity	The following table summarizes PSU activity, inclusive of XSUs, for the years ended December 31 (number of units and aggregate intrinsic value in thousands): 2024 2023 2022 Number Weighted Number Weighted Number Weighted Units outstanding, beginning of year 394 $ 201.61 1,369 $ 43.43 1,499 $ 39.86 Granted 4,888 263.13 319 218.04 158 106.57 Released (23) 140.90 (1,238) 37.98 (78) 107.58 Forfeited (394) 232.94 (56) 48.40 (210) 41.62 Units outstanding, end of year 4,865 261.18 394 201.61 1,369 43.43 Aggregate intrinsic value at year end $ 2,891,142
Schedule of the Company's Stock Options Activity	The following table summarizes stock option activity for the years ended December 31 (number of options in thousands): 2024 2023 2022 Number Weighted Number Weighted Number Weighted Options outstanding, beginning of year 531 $ 28.58 2,438 $ 28.58 2,438 $ 28.58 Granted — — — — — Exercised (510) 28.58 (1,907) 28.58 — — Expired / terminated — — — — — Options outstanding, end of year 21 28.58 531 28.58 2,438 28.58 Options exercisable, end of year 21 28.58 531 28.58 1,377 28.58
Schedule of Stock Options Outstanding and Exercisable	The following tab le summarizes information about stock options that were fully vested or expected to vest as of December 31, 2024 (number of options in thousands): Options Outstanding Options Exercisable Range of Number of Weighted Average Weighted Average Average $28.58 21 $ 28.58 3.15 21 $ 28.58 3.15
Schedule of Reported Share-based Compensation	We account for stock-based compensation using the fair-value method. Reported stock-based compensation expense was classified as follows for the years ended December 31 (in thousands): 2024 2023 2022 Cost of product and service sales $ 60,089 $ 6,595 $ 4,607 Selling, general and administrative expenses 190,561 58,533 51,301 Research and development expenses 131,954 66,230 50,268 Total stock-based compensation expense $ 382,604 $ 131,358 $ 106,176 Income tax benefit $ 79,275 $ 13,509 $ 25,154

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income Loss, Net of Tax	The following table reflects the changes in accumulated other comprehensive loss, net of tax (in thousands): Unrealized Gains (Losses) on Available-for-Sale Investments (1) Foreign Currency Total Balance, December 31, 2021 $ (207) $ (1,110) $ (1,317) Other comprehensive loss (1,044) (4,818) (5,862) Balance, December 31, 2022 $ (1,251) $ (5,928) $ (7,179) Other comprehensive income (loss) 852 (4,352) (3,500) Balance, December 31, 2023 $ (399) $ (10,280) $ (10,679) Other comprehensive income (loss) 369 (7,874) (7,505) Balance, December 31, 2024 $ (30) $ (18,154) $ (18,184) (1) Amounts are net of immaterial tax impacts

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Balance Sheet Disclosures	We have operating leases for office space, manufacturing and logistical functions. Operating lease assets and liabilities consisted of the following at December 31, 2024 and December 31, 2023 (in thousands): Leases (in thousands) Classification December 31, 2024 December 31, 2023 Assets Operating lease assets Other assets $ 44,567 $ 36,155 Liabilities Current Operating Other current liabilities $ 9,453 $ 7,938 Noncurrent Operating Long-term lease liabilities 41,383 33,550 Total lease liabilities $ 50,836 $ 41,488
Schedule of Components of Lease Expense	The components of operating lease expenses were as follows for the years ended December 31 (in thousands): 2024 2023 2022 Total operating lease expense (1) $ 14,568 $ 10,025 $ 8,703 (1) Includes short-term leases, which are immaterial Supplemental cash flow information related to operating leases were as follows for the year ended December 31 (in thousands): 2024 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 12,284 $ 8,846 $ 9,216 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 14,292 $ 5,927 $ 21,815 Weighted-average remaining lease term and discount rate at December 31, 2024 and December 31, 2023 were as follows: December 31, 2024 December 31, 2023 Weighted average remaining lease term: Operating leases 7.7 years 7.1 years Weighted average discount rate: Operating leases 7.60 % 6.05 %
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum operating lease payments under non-cancellable leases as of December 31, 2024 were as follows (in thousands): Operating 2025 13,791 2026 8,994 2027 6,606 2028 6,120 2029 5,546 Thereafter 28,409 Total minimum lease payments 69,466 Less: Amount representing interest (18,630) Present value of lease payments $ 50,836

Segment Data (Tables)

Segment Data (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Reportable Segments	Information relative to our reportable segments was as follows (in thousands): For the year ended December 31, 2024 TASER Software and Sensors Total Net sales from products $ 763,761 $ 457,531 $ 1,221,292 Net sales from services 54,912 806,322 861,234 Net sales 818,673 1,263,853 2,082,526 Cost of sales 338,642 502,504 841,146 Other segment items (1) 34,937 39,130 74,067 Adjusted gross margin $ 514,968 $ 800,479 $ 1,315,447 Other segment items (1) 74,067 Selling, general and administrative 741,247 Research and development 441,593 Interest income, net 36,595 Other income (loss), net 286,369 Income before provision for income taxes $ 381,504 (1) Other segment items includes the adjustment for noncash stock-based compensation expense, amortization of acquired intangible assets, and inventory step-up amortization related to acquisitions to arrive at the profit measure used by the CODM For the year ended December 31, 2023 TASER Software and Sensors Total Net sales from products $ 577,610 $ 386,392 $ 964,002 Net sales from services 35,900 560,797 596,697 Net sales 613,510 947,189 1,560,699 Cost of sales 241,977 363,269 605,246 Other segment items (1) 2,235 7,504 9,739 Adjusted gross margin $ 373,768 $ 591,424 $ 965,192 Other segment items (1) 9,739 Selling, general and administrative 494,884 Research and development 303,719 Interest income, net 42,112 Other income (loss), net (41,901) Income before provision for income taxes $ 157,061 (1) Other segment items includes the adjustment for noncash stock-based compensation expense and amortization of acquired intangible assets to arrive at the profit measure used by the CODM For the year ended December 31, 2022 TASER Software and Sensors Total Net sales from products $ 511,057 $ 286,120 $ 797,177 Net sales from services 19,987 369,979 389,966 Net sales 531,044 656,099 1,187,143 Cost of sales 195,239 265,791 461,030 Other segment items (1) 1,562 5,708 7,270 Adjusted gross margin $ 337,367 $ 396,016 $ 733,383 Other segment items (1) 7,270 Selling, general and administrative 399,330 Research and development 233,810 Interest income, net 4,294 Other income (loss), net 98,971 Income before provision for income taxes $ 196,238 (1) Other segment items includes the adjustment for noncash stock-based compensation expense and amortization of acquired intangible assets to arrive at the profit measure used by the CODM The following table presents supplemental information included within the measure of profit or loss, adjusted gross margin, reviewed by our CODM (in thousands). There are no other material items presented to our CODM by segment or included within adjusted gross margin for supplemental disclosure. Year Ended December 31, 2024 Year Ended December 31, 2023 Year Ended December 31, 2022 TASER S Software and Sensors Total TASER Software and Sensors Total TASER Software and Sensors Total Depreciation and amortization $ 18,789 $ 16,592 $ 35,381 $ 12,346 $ 5,223 $ 17,569 $ 7,049 $ 4,082 $ 11,131 Significant noncash items: Stock-based compensation expense 34,906 25,183 60,089 2,234 4,361 6,595 1,561 3,046 4,607 Provisions for inventory 4,508 12,091 16,599 3,642 752 4,394 — — — Warranty reserve expense 4,743 849 5,592 7,325 737 8,062 53 145 198

Revision of Prior Period Fina_2

Revision of Prior Period Financial Statements (Tables)	12 Months Ended
	Dec. 31, 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 and December 31, 2022; (c) consolidated statements of stockholders' equity for the years ended December 31, 2023 and December 31, 2022; and (d) consolidated statements of cash flows for the years ended December 31, 2023 and December 31, 2022. 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) 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 Selling, 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 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 Selling, 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 Consolidated Statements of Stockholders' Equity (in thousands) As Reported Revision As Revised Retained Earnings Total Retained Earnings Total Retained Earnings Total Balance, December 31, 2021 $ 109,883 $ 1,047,849 $ 2,384 $ 2,384 $ 112,267 $ 1,050,233 Net income 147,139 147,139 (209) (209) 146,930 146,930 Balance, December 31, 2022 257,022 1,268,491 2,175 2,175 259,197 1,270,666 Net income 174,227 174,227 1,556 1,556 175,783 175,783 Balance, December 31, 2023 $ 431,249 $ 1,612,034 $ 3,731 $ 3,731 $ 434,980 $ 1,615,765 Consolidated Statements of Cash Flows (in thousands) 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) Net cash provided by operating activities $ 189,263 $ — $ 189,263 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or to 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) Net cash provided by operating activities $ 235,361 $ — $ 235,361 Condensed Consolidated Statements of Operations and Comprehensive Income (in thousands, except per share data) As Reported Three Months Ended December 31, 2024 September 30, 2024 Net sales $ 575,145 $ 544,274 Gross margin 345,849 330,747 Income (loss) from operations (15,755) 24,081 Net income 135,184 67,025 Net income per common and common equivalent shares - Basic $ 1.77 $ 0.89 Net income per common and common equivalent shares - Diluted $ 1.67 $ 0.86 As discussed within Note 1, we recorded an out of period adjustment in the three months ended December 31, 2024. This adjustment reduced revenue and net income by $5.1 million and $3.7 million, respectively. Of this total adjustment, $3.3 million and $2.3 million for revenue and net income, respectively, pertained to prior fiscal years. These errors originated in prior years and were immaterial to each respective prior period. 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 Net income per common and common equivalent shares - Diluted $ 0.53 $ — $ 0.53 Comprehensive income $ 38,189 $ 676 $ 38,865 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 Net income per common and common equivalent shares - Basic $ 1.77 $ — $ 1.77 Net income per common and common equivalent shares - Diluted $ 1.73 $ — $ 1.73 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 Net income per common and common equivalent shares - Basic $ 0.76 $ — $ 0.76 Net income per common and common equivalent shares - Diluted $ 0.75 $ — $ 0.75 Comprehensive income $ 59,461 $ (210) $ 59,251 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 Three Months Ended June 30, 2023 As Reported Revision As Revised Net sales from products $ 233,474 $ 214 $ 233,688 Net sales from services 141,131 (2,115) 139,016 Net sales 374,605 (1,901) 372,704 Cost of product sales 101,192 (254) 100,938 Cost of service sales 41,292 133 41,425 Cost of sales 142,484 (121) 142,363 Gross margin 232,121 (1,780) 230,341 Sales, general and administrative 119,922 (614) 119,308 Total operating expenses 191,862 (614) 191,248 Income from operations 40,259 (1,166) 39,093 Income (loss) before provision for income taxes (12,109) (1,166) (13,275) Provision for (benefit from) income taxes (24,529) (260) (24,789) Net income $ 12,420 $ (906) $ 11,514 Net income per common and common equivalent shares - Basic $ 0.17 $ (0.01) $ 0.16 Net income per common and common equivalent shares - Diluted $ 0.16 $ (0.01) $ 0.15 Comprehensive income $ 11,013 $ (906) $ 10,107 Three Months Ended March 31, 2023 As Reported Revision As Revised Net sales from products $ 219,389 $ (569) $ 218,820 Net sales from services 123,654 1,867 125,521 Net sales 343,043 1,298 344,341 Cost of product sales 107,584 673 108,257 Cost of service sales 31,357 263 31,620 Cost of sales 138,941 936 139,877 Gross margin 204,102 362 204,464 Sales, general and administrative 116,567 (621) 115,946 Total operating expenses 187,494 (621) 186,873 Income from operations 16,608 983 17,591 Income before provision for income taxes 41,884 983 42,867 Provision for (benefit from) income taxes (3,255) 223 (3,032) Net income $ 45,139 $ 760 $ 45,899 Net income per common and common equivalent shares - Basic $ 0.62 $ 0.01 $ 0.63 Net income per common and common equivalent shares - Diluted $ 0.61 $ 0.01 $ 0.62 Comprehensive income $ 46,999 $ 760 $ 47,759

Impact of Revision on Quarter_2

Impact of Revision on Quarterly Statements of Operations and Comprehensive Income (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 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 and December 31, 2022; (c) consolidated statements of stockholders' equity for the years ended December 31, 2023 and December 31, 2022; and (d) consolidated statements of cash flows for the years ended December 31, 2023 and December 31, 2022. 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) 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 Selling, 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 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 Selling, 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 Consolidated Statements of Stockholders' Equity (in thousands) As Reported Revision As Revised Retained Earnings Total Retained Earnings Total Retained Earnings Total Balance, December 31, 2021 $ 109,883 $ 1,047,849 $ 2,384 $ 2,384 $ 112,267 $ 1,050,233 Net income 147,139 147,139 (209) (209) 146,930 146,930 Balance, December 31, 2022 257,022 1,268,491 2,175 2,175 259,197 1,270,666 Net income 174,227 174,227 1,556 1,556 175,783 175,783 Balance, December 31, 2023 $ 431,249 $ 1,612,034 $ 3,731 $ 3,731 $ 434,980 $ 1,615,765 Consolidated Statements of Cash Flows (in thousands) 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) Net cash provided by operating activities $ 189,263 $ — $ 189,263 Other than the impact to the captions noted above, there was no impact on total cash flows from operating activities, or to 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) Net cash provided by operating activities $ 235,361 $ — $ 235,361 Condensed Consolidated Statements of Operations and Comprehensive Income (in thousands, except per share data) As Reported Three Months Ended December 31, 2024 September 30, 2024 Net sales $ 575,145 $ 544,274 Gross margin 345,849 330,747 Income (loss) from operations (15,755) 24,081 Net income 135,184 67,025 Net income per common and common equivalent shares - Basic $ 1.77 $ 0.89 Net income per common and common equivalent shares - Diluted $ 1.67 $ 0.86 As discussed within Note 1, we recorded an out of period adjustment in the three months ended December 31, 2024. This adjustment reduced revenue and net income by $5.1 million and $3.7 million, respectively. Of this total adjustment, $3.3 million and $2.3 million for revenue and net income, respectively, pertained to prior fiscal years. These errors originated in prior years and were immaterial to each respective prior period. 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 Net income per common and common equivalent shares - Diluted $ 0.53 $ — $ 0.53 Comprehensive income $ 38,189 $ 676 $ 38,865 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 Net income per common and common equivalent shares - Basic $ 1.77 $ — $ 1.77 Net income per common and common equivalent shares - Diluted $ 1.73 $ — $ 1.73 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 Net income per common and common equivalent shares - Basic $ 0.76 $ — $ 0.76 Net income per common and common equivalent shares - Diluted $ 0.75 $ — $ 0.75 Comprehensive income $ 59,461 $ (210) $ 59,251 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 Three Months Ended June 30, 2023 As Reported Revision As Revised Net sales from products $ 233,474 $ 214 $ 233,688 Net sales from services 141,131 (2,115) 139,016 Net sales 374,605 (1,901) 372,704 Cost of product sales 101,192 (254) 100,938 Cost of service sales 41,292 133 41,425 Cost of sales 142,484 (121) 142,363 Gross margin 232,121 (1,780) 230,341 Sales, general and administrative 119,922 (614) 119,308 Total operating expenses 191,862 (614) 191,248 Income from operations 40,259 (1,166) 39,093 Income (loss) before provision for income taxes (12,109) (1,166) (13,275) Provision for (benefit from) income taxes (24,529) (260) (24,789) Net income $ 12,420 $ (906) $ 11,514 Net income per common and common equivalent shares - Basic $ 0.17 $ (0.01) $ 0.16 Net income per common and common equivalent shares - Diluted $ 0.16 $ (0.01) $ 0.15 Comprehensive income $ 11,013 $ (906) $ 10,107 Three Months Ended March 31, 2023 As Reported Revision As Revised Net sales from products $ 219,389 $ (569) $ 218,820 Net sales from services 123,654 1,867 125,521 Net sales 343,043 1,298 344,341 Cost of product sales 107,584 673 108,257 Cost of service sales 31,357 263 31,620 Cost of sales 138,941 936 139,877 Gross margin 204,102 362 204,464 Sales, general and administrative 116,567 (621) 115,946 Total operating expenses 187,494 (621) 186,873 Income from operations 16,608 983 17,591 Income before provision for income taxes 41,884 983 42,867 Provision for (benefit from) income taxes (3,255) 223 (3,032) Net income $ 45,139 $ 760 $ 45,899 Net income per common and common equivalent shares - Basic $ 0.62 $ 0.01 $ 0.63 Net income per common and common equivalent shares - Diluted $ 0.61 $ 0.01 $ 0.62 Comprehensive income $ 46,999 $ 760 $ 47,759

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies - Narrative (Details)			3 Months Ended							12 Months Ended
	May 10, 2024 tranche	May 24, 2018 tranche shares	Dec. 31, 2024 USD ($) condition	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) condition	Dec. 31, 2024 USD ($) condition	Dec. 31, 2024 USD ($) condition institution	Dec. 31, 2024 USD ($) condition item	Dec. 31, 2024 USD ($) condition segment	Dec. 31, 2024 USD ($) condition	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Summary Of Significant Accounting Policy [Line Items]
Decrease in revenue				$ (503,236,000)	$ (459,871,000)	$ (430,376,000)	$ (413,278,000)	$ (372,704,000)	$ (344,341,000)		$ (2,082,526,000)					$ (1,560,699,000)	$ (1,187,143,000)
Decrease in net income				(41,473,000)	(133,352,000)	(57,061,000)	(61,309,000)	(11,514,000)	(45,899,000)		(377,034,000)					(175,783,000)	(146,930,000)
Number of depository institutions												2	2
Aggregate balances in depository institution accounts			$ 376,800,000							$ 376,800,000	376,800,000	$ 376,800,000	$ 376,800,000	$ 376,800,000	$ 376,800,000
Number of reportable segments | segment														2
Credit losses											0					0	0
Restricted cash			11,900,000			2,100,000				11,900,000	11,900,000	11,900,000	11,900,000	$ 11,900,000	11,900,000	2,100,000
Restricted cash including prepaid expenses and other assets			$ 11,800,000							$ 11,800,000	$ 11,800,000	$ 11,800,000	$ 11,800,000	$ 11,800,000	$ 11,800,000
Renewal term			5 years							5 years	5 years	5 years	5 years	5 years	5 years
Termination period										1 year
Impairment charges											$ 0					0	5,300,000
Goodwill, impairment loss											0					0	0
Number of primary revenue sources | item													2
Payment due date from date of invoice										30 days
Unbilled accounts receivable			$ 5,600,000							$ 5,600,000	5,600,000	$ 5,600,000	$ 5,600,000	$ 5,600,000	$ 5,600,000
Reserve for expected credit losses			5,609,000			3,966,000				$ 5,609,000	5,609,000	5,609,000	5,609,000	5,609,000	5,609,000	3,966,000	3,630,000	$ 3,349,000
Selling, general and administrative				170,964,000	151,075,000	137,273,000	122,357,000	119,308,000	115,946,000		741,247,000					494,884,000	399,330,000
Warranty period										1 year
Research and development											441,593,000					303,719,000	233,810,000
Cash surrender value of corporate-owned life insurance policies			8,398,000			7,558,000				$ 8,398,000	$ 8,398,000	$ 8,398,000	$ 8,398,000	$ 8,398,000	$ 8,398,000	7,558,000
Revision
Summary Of Significant Accounting Policy [Line Items]
Decrease in revenue				863,000	865,000	1,766,000	323,000	1,901,000	(1,298,000)							2,692,000	2,792,000
Decrease in net income				(676,000)	(134,000)	210,000	(1,912,000)	906,000	(760,000)							(1,556,000)	209,000
Selling, general and administrative				1,537,000	(1,594,000)	167,000	(922,000)	(614,000)	(621,000)							(1,990,000)	$ (2,245,000)
Error Correction, Other
Summary Of Significant Accounting Policy [Line Items]
Decrease in revenue			5,100,000
Decrease in net income			$ 3,700,000
Chief Executive Officer
Summary Of Significant Accounting Policy [Line Items]
Number of award tranches | tranche		12
Service Based Restricted Stock Unit
Summary Of Significant Accounting Policy [Line Items]
Expiration period										10 years
Performance Shares | Chief Executive Officer
Summary Of Significant Accounting Policy [Line Items]
Performance shares authorized (in shares) | shares		6,400,000
Performance Based Restricted Stock Unit
Summary Of Significant Accounting Policy [Line Items]
Expiration period										10 years
eXponential Stock Units | 2024 Employee XSP
Summary Of Significant Accounting Policy [Line Items]
Number of award tranches | tranche	7
Independent vesting conditions | condition			3							3	3	3	3	3	3
Risk-free interest rate, minimum (as percentage)															3.60%
Risk-free interest rate, maximum (as percentage)															4.50%
Expected volatility, minimum (as percentage)															41%
Expected volatility, maximum (as percentage)															46.80%
Expected dividend rate															0%
Weighted-average expected volatility															41.60%
2027 Notes
Summary Of Significant Accounting Policy [Line Items]
Interest rate (as a percent)			0.50%							0.50%	0.50%	0.50%	0.50%	0.50%	0.50%		0.50%
Advertising
Summary Of Significant Accounting Policy [Line Items]
Selling, general and administrative											$ 4,400,000					1,900,000	$ 2,300,000
Net sales from products
Summary Of Significant Accounting Policy [Line Items]
Decrease in revenue				(292,763,000)	(270,424,000)	(256,439,000)	(255,055,000)	(233,688,000)	(218,820,000)		$ (1,221,292,000)					(964,002,000)	(797,177,000)
Net sales from products | Revision
Summary Of Significant Accounting Policy [Line Items]
Decrease in revenue				$ 2,422,000	$ 1,624,000	$ 1,966,000	$ 1,388,000	$ (214,000)	$ 569,000							$ 3,709,000	$ 4,211,000
Minimum | Performance Based Restricted Stock Unit
Summary Of Significant Accounting Policy [Line Items]
Vesting period										1 year
Minimum | eXponential Stock Units | 2024 Employee XSP
Summary Of Significant Accounting Policy [Line Items]
Expected life of options										8 years
Maximum
Summary Of Significant Accounting Policy [Line Items]
Remaining terms			12 years							12 years	12 years	12 years	12 years	12 years	12 years
Maximum | Performance Based Restricted Stock Unit
Summary Of Significant Accounting Policy [Line Items]
Vesting period										8 years
Maximum | eXponential Stock Units | 2024 Employee XSP
Summary Of Significant Accounting Policy [Line Items]
Expected life of options										8 years 7 months 6 days

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies - Changes in Estimated Warranty Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard and Extended Product Warranty
Balance, beginning of period	$ 7,374	$ 811	$ 2,822
Utilization of reserve	(5,992)	(1,499)	(2,209)
Adjustment to reserve due to business combinations	1,311	0	0
Warranty expense	5,591	8,062	198
Balance, end of period	$ 8,284	$ 7,374	$ 811

Organization and Summary of S_6

Organization and Summary of Significant Accounting Policies - Weighted Average Number of Shares Outstanding and Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator for basic and diluted earnings per share:
Net income	$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 377,034	$ 175,783	$ 146,930
Denominator:
Weighted average shares outstanding (in shares)							75,748	74,195	71,093
Dilutive effect of stock-based awards (in shares)							1,435	1,261	1,441
Dilutive effect of 2027 Notes (in shares)							1,139	0	0
Dilutive effect of 2027 Warrants (in shares)							236	0	0
Diluted weighted average shares outstanding (in shares)							78,558	75,456	72,534
Net income per common and common equivalent shares:
Basic (in dollars per share)	$ 0.55	$ 1.77	$ 0.76	$ 0.82	$ 0.16	$ 0.63	$ 4.98	$ 2.37	$ 2.07
Diluted (in dollars per share)	$ 0.53	$ 1.73	$ 0.75	$ 0.81	$ 0.15	$ 0.62	$ 4.80	$ 2.33	$ 2.03

Organization and Summary of S_7

Organization and Summary of Significant Accounting Policies - Antidilutive Securities Excluded From Computation of EPS (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	8,790	7,048	9,298
Stock-based awards
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	4,132	1,014	3,264
2027 Notes
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	1,877	3,017	3,017
2027 Warrants
Antidilutive securities excluded from computation of earnings per share
Total potentially dilutive securities	2,781	3,017	3,017

Revenues - Revenues by Products

Revenues - Revenues by Products and Service Offerings (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 372,704	$ 344,341	$ 2,082,526	$ 1,560,699	$ 1,187,143
TASER Devices (Professional)
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							453,055	333,923	282,698
Cartridges
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							246,766	193,285	181,686
Axon Evidence and Cloud Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							863,169	601,683	386,034
Extended Warranties
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							103,656	86,843	74,563
Axon Body Cameras and Accessories
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							246,855	183,023	157,281
Axon Fleet Systems
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							104,890	121,842	63,017
Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							64,135	40,100	41,864
TASER
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							818,673	613,510	531,044
TASER | TASER Devices (Professional)
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							453,055	333,923	282,698
TASER | Cartridges
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							246,766	193,285	181,686
TASER | Axon Evidence and Cloud Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							54,913	35,680	18,182
TASER | Extended Warranties
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							37,515	31,689	29,056
TASER | Axon Body Cameras and Accessories
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							0	0	0
TASER | Axon Fleet Systems
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							0	0	0
TASER | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							26,424	18,933	19,422
Software and Sensors
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							1,263,853	947,189	656,099
Software and Sensors | TASER Devices (Professional)
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							0	0	0
Software and Sensors | Cartridges
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							0	0	0
Software and Sensors | Axon Evidence and Cloud Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							808,256	566,003	367,852
Software and Sensors | Extended Warranties
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							66,141	55,154	45,507
Software and Sensors | Axon Body Cameras and Accessories
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							246,855	183,023	157,281
Software and Sensors | Axon Fleet Systems
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							104,890	121,842	63,017
Software and Sensors | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							$ 37,711	$ 21,167	$ 22,442

Revenues - Revenues by Geograph

Revenues - Revenues by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 372,704	$ 344,341	$ 2,082,526	$ 1,560,699	$ 1,187,143
United States
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							1,775,194	1,335,516	985,183
Other countries
Disaggregation of Revenue [Line Items]
Revenue from contract with customers							$ 307,332	$ 225,183	$ 201,960
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk (as a percentage)							100%	100%	100%
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | United States
Disaggregation of Revenue [Line Items]
Concentration risk (as a percentage)							85%	86%	83%
Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | Other countries
Disaggregation of Revenue [Line Items]
Concentration risk (as a percentage)							15%	14%	17%

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Contract assets, balance increase	$ 116.2
Contract assets, percentage increase	31.30%
Contract liabilities, balance increase	$ 232.3
Contract liabilities, percentage increase	31.30%
SG&A expenses
Disaggregation of Revenue [Line Items]
Amortization related to deferred commissions	$ 50.8	$ 34.1	$ 24.4

Revenues - Contract Assets, Con

Revenues - Contract Assets, Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets, net	$ 487,805	$ 371,614	$ 249,001
Contract liabilities (deferred revenue)	973,640	741,316	593,038
Revenue recognized in the period from:
Amounts included in contract liabilities at the beginning of the period	$ 499,727	$ 357,979	$ 258,063

Revenues - Deferred Revenue (De

Revenues - Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Current	$ 612,955	$ 470,415
Long-Term	360,685	270,901
Total	973,640	741,316	$ 593,038
TASER
Disaggregation of Revenue [Line Items]
Current	74,937	58,343
Long-Term	60,538	52,500
Total	135,475	110,843
Software and Sensors
Disaggregation of Revenue [Line Items]
Current	538,018	412,072
Long-Term	300,147	218,401
Total	838,165	630,473
Warranty:
Disaggregation of Revenue [Line Items]
Current	52,949	37,308
Long-Term	38,994	26,993
Total	91,943	64,301
Warranty: | TASER
Disaggregation of Revenue [Line Items]
Current	16,107	14,666
Long-Term	19,288	18,828
Total	35,395	33,494
Warranty: | Software and Sensors
Disaggregation of Revenue [Line Items]
Current	36,842	22,642
Long-Term	19,706	8,165
Total	56,548	30,807
Hardware:
Disaggregation of Revenue [Line Items]
Current	139,187	99,144
Long-Term	179,307	146,713
Total	318,494	245,857
Hardware: | TASER
Disaggregation of Revenue [Line Items]
Current	49,195	35,845
Long-Term	35,116	29,689
Total	84,311	65,534
Hardware: | Software and Sensors
Disaggregation of Revenue [Line Items]
Current	89,992	63,299
Long-Term	144,191	117,024
Total	234,183	180,323
Services:
Disaggregation of Revenue [Line Items]
Current	420,819	333,963
Long-Term	142,384	97,195
Total	563,203	431,158
Services: | TASER
Disaggregation of Revenue [Line Items]
Current	9,635	7,832
Long-Term	6,134	3,983
Total	15,769	11,815
Services: | Software and Sensors
Disaggregation of Revenue [Line Items]
Current	411,184	326,131
Long-Term	136,250	93,212
Total	$ 547,434	$ 419,343

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligations (Details) $ in Billions	Dec. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 7.9
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
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)	20%
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
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]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	10 years

Revenues - Cost to Obtain Contr

Revenues - Cost to Obtain Contracts with Customer (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Current deferred commissions	$ 59,025	$ 46,224
Deferred commissions, net of current portion	154,894	119,084
Deferred sales commission	$ 213,919	$ 165,308

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments - Cash, Cash Equivalents, Marketable Securities, and Available-for-Sale Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Restricted Cash and Cash Equivalents Items [Line Items]
Cash	$ 94,919	$ 406,743
Amortized Cost	878,105	1,333,022
Gross Unrealized Gains	108,312	158
Gross Unrealized Losses	(68)	(12,641)
Fair Value	986,349	1,320,539
Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Cash	94,919	406,743
Fair Value	454,844	598,545
Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Cash		0
Fair Value	198,270	77,940
Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Cash		0
Fair Value	333,235	644,054
Level 1:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	504,295	700,337
Gross Unrealized Gains	108,302	150
Gross Unrealized Losses	(5)	(12,471)
Fair Value	612,592	688,016
Level 1: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	322,874	191,802
Level 1: | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	198,270	77,940
Level 1: | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	91,448	418,274
Level 2:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	278,891	225,942
Gross Unrealized Gains	10	8
Gross Unrealized Losses	(63)	(170)
Fair Value	278,838	225,780
Level 2: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	37,051	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	241,787	225,780
Money market funds | Level 1:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	322,874	1,470
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	322,874	1,470
Money market funds | Level 1: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	322,874	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
Agency bonds | Level 1:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	996	222,057
Gross Unrealized Gains	0	2
Gross Unrealized Losses	0	(174)
Fair Value	996	221,885
Agency bonds | Level 1: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	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	996	120,250
U.S. Government bonds | Level 1:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	75,994	238,747
Gross Unrealized Gains	7	120
Gross Unrealized Losses	(5)	(237)
Fair Value	75,996	238,630
U.S. Government bonds | Level 1: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
U.S. Government bonds | Level 1: | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
U.S. Government bonds | Level 1: | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	75,996	238,630
U.S. Treasury bills | Level 1:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	14,431	148,063
Gross Unrealized Gains	25	28
Gross Unrealized Losses	0	0
Fair Value	14,456	148,091
U.S. Treasury bills | Level 1: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	88,697
U.S. Treasury bills | Level 1: | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
U.S. Treasury bills | Level 1: | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	14,456	59,394
Marketable securities | Level 1:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	90,000	90,000
Gross Unrealized Gains	108,270	0
Gross Unrealized Losses	0	(12,060)
Fair Value	198,270	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	198,270	77,940
Marketable securities | Level 1: | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Term deposits | Level 2:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	136,480	128,205
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	136,480	128,205
Term deposits | Level 2: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	11,480	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	125,000	128,205
Corporate bonds | Level 2:
Restricted Cash and Cash Equivalents Items [Line Items]
Amortized Cost	122,018	80,646
Gross Unrealized Gains	10	8
Gross Unrealized Losses	(63)	(165)
Fair Value	121,965	80,489
Corporate bonds | Level 2: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	24,075	0
Corporate bonds | Level 2: | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Corporate bonds | Level 2: | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	97,890	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	20,393	14,456
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	20,393	14,456
Commercial paper | Level 2: | Cash and Cash Equivalents
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	1,496	0
Commercial paper | Level 2: | Marketable Securities
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	0	0
Commercial paper | Level 2: | Short-Term Investments
Restricted Cash and Cash Equivalents Items [Line Items]
Fair Value	$ 18,897	$ 14,456

Cash, Cash Equivalents and In_4

Cash, Cash Equivalents and Investments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Debt securities, available-for-sale, unrealized loss position	$ 136.7	$ 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 (loss)	$ 120.3	$ 38.7	$ (32.9)

Expected Credit Losses - Roll-f

Expected Credit Losses - Roll-forward of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 3,966	$ 3,630	$ 3,349
Provision for expected credit losses	4,033	1,084	700
Amounts written off charged against the allowance	(2,404)	(754)	(416)
Other, including foreign currency translation	14	6	(3)
Balance, end of period	5,609	3,966	3,630
United States
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	3,369	3,064	3,171
Provision for expected credit losses	3,725	815	309
Amounts written off charged against the allowance	(2,309)	(510)	(416)
Other, including foreign currency translation	0	0	0
Balance, end of period	4,785	3,369	3,064
Other countries
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	597	566	178
Provision for expected credit losses	308	269	391
Amounts written off charged against the allowance	(95)	(244)	0
Other, including foreign currency translation	14	6	(3)
Balance, end of period	$ 824	$ 597	$ 566

Expected Credit Losses - Type o

Expected Credit Losses - Type of Customer Receivable (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Credit Loss [Abstract]
Accounts receivable and notes receivable, current	$ 3,322,000	$ 2,392,000
Contract assets, net	2,239,000	1,516,000
Long-term notes receivable, net of current portion	48,000	44,000
Other current liabilities	0	14,000
Total allowance for expected credit losses on customer receivables	$ 5,609,000	$ 3,966,000

Inventory - Inventory (Details)

Inventory - Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 93,070	$ 104,112
Finished goods	172,246	165,743
Total inventory	$ 265,316	$ 269,855

Inventory - Narrative (Details)

Inventory - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Provisions for inventory	$ 17.8	$ 5.4

Property and Equipment - Proper

Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total cost	$ 383,309	$ 305,757
Less: Accumulated depreciation	(135,985)	(105,224)
Property and equipment, net	247,324	200,533
Land
Property, Plant and Equipment [Line Items]
Total cost	51,612	51,612
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Total cost	$ 52,065	32,092
Building and leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Building and leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	39 years
Production equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 148,922	105,245
Production equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Production equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Computers, equipment and software
Property, Plant and Equipment [Line Items]
Total cost	$ 34,429	30,778
Computers, equipment and software | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Computers, equipment and software | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 10,058	8,383
Furniture and office equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Furniture and office equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Vehicles
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Total cost	$ 8,139	7,451
Capitalized internal software development costs
Property, Plant and Equipment [Line Items]
Total cost	$ 15,906	14,799
Capitalized internal software development costs | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Capitalized internal software development costs | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Construction-in-process
Property, Plant and Equipment [Line Items]
Total cost	$ 62,178	$ 55,397

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total cost			$ 305,757				$ 383,309	$ 305,757
Depreciation and amortization expense relative to property and equipment							39,400	28,100	$ 20,400
Cost of sales	$ 197,080	$ 201,243	166,384	$ 156,622	$ 142,363	$ 139,877	841,146	605,246	461,030
Construction-in-progress related to development
Property, Plant and Equipment [Line Items]
Total cost			$ 31,000				33,600	31,000
Property, Plant and Equipment, Other Types
Property, Plant and Equipment [Line Items]
Cost of sales							$ 21,400	$ 13,600	$ 8,500

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Changes in carrying amount of goodwill
Balance, beginning of period	$ 57,945	$ 44,983
Goodwill acquired	701,695	12,751
Purchase accounting adjustments	(479)	(19)
Foreign currency translation adjustments	(2,323)	230
Balance, end of period	756,838	57,945
TASER
Changes in carrying amount of goodwill
Balance, beginning of period	2,984	2,957
Goodwill acquired	0	0
Purchase accounting adjustments	0	0
Foreign currency translation adjustments	(131)	27
Balance, end of period	2,853	2,984
Software and Sensors
Changes in carrying amount of goodwill
Balance, beginning of period	54,961	42,026
Goodwill acquired	701,695	12,751
Purchase accounting adjustments	(479)	(19)
Foreign currency translation adjustments	(2,192)	203
Balance, end of period	$ 753,985	$ 54,961

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Finite-Lived Intangible Assets Other than Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Intangible Assets [Line Items]
Gross Carrying Amount	$ 164,225	$ 42,978
Accumulated Amortization	(31,740)	(25,282)
Total	132,485	17,696
Indefinite-Lived Intangible Assets
Total non-amortizable	42,672	1,843
Intangible assets, Gross Carrying Amount	206,897	44,821
Intangible assets, Net Carrying Amount	175,157	19,539
In-process research and development
Indefinite-Lived Intangible Assets
Total non-amortizable	41,000	0
Trademarks
Indefinite-Lived Intangible Assets
Total non-amortizable	1,068	1,068
Patents and trademarks pending
Indefinite-Lived Intangible Assets
Total non-amortizable	604	775
Developed technology
Intangible Assets [Line Items]
Gross Carrying Amount	118,322	29,402
Accumulated Amortization	(21,337)	(16,562)
Total	$ 96,985	12,840
Developed technology | Minimum
Intangible Assets [Line Items]
Useful Life	3 years
Developed technology | Maximum
Intangible Assets [Line Items]
Useful Life	8 years
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Amount	$ 33,223	5,530
Accumulated Amortization	(4,716)	(3,620)
Total	$ 28,507	1,910
Customer relationships | Minimum
Intangible Assets [Line Items]
Useful Life	5 years
Customer relationships | Maximum
Intangible Assets [Line Items]
Useful Life	10 years
Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount	$ 6,706	1,333
Accumulated Amortization	(1,784)	(817)
Total	$ 4,922	516
Trademarks | Minimum
Intangible Assets [Line Items]
Useful Life	3 years
Trademarks | Maximum
Intangible Assets [Line Items]
Useful Life	23 years
Issued patents
Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,931	3,222
Accumulated Amortization	(1,470)	(1,707)
Total	$ 1,461	1,515
Issued patents | Minimum
Intangible Assets [Line Items]
Useful Life	8 years
Issued patents | Maximum
Intangible Assets [Line Items]
Useful Life	26 years
Domain names
Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,043	3,043
Accumulated Amortization	(2,433)	(2,128)
Total	$ 610	915
Domain names | Minimum
Intangible Assets [Line Items]
Useful Life	5 years
Domain names | Maximum
Intangible Assets [Line Items]
Useful Life	10 years
Non-compete agreements
Intangible Assets [Line Items]
Gross Carrying Amount	$ 0	448
Accumulated Amortization	0	(448)
Total	$ 0	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 17.4	$ 4.5	$ 4

Goodwill and Intangible asset_5

Goodwill and Intangible assets - Estimated Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 23,850
2026	23,655
2027	22,423
2028	21,437
2029	19,203
Thereafter	21,917
Total	$ 132,485	$ 17,696

Strategic Investments - Schedul

Strategic Investments - Schedule Of Roll-Forward Of Strategic Investments (Details) - USD ($) $ in Thousands	12 Months Ended		60 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024
Strategic Investments
Balance, beginning of period	$ 231,730	$ 296,563	$ 356,072
Investments	113,400	16,192
Fair value adjustments:
Realized gains (losses) during the period, net	91,150	0	103,462
Cumulative unrealized gains (losses)	76,723	0
Unrealized losses on strategic investments still held at the reporting date	(4,986)	(82,525)
Exercises	(175,467)	1,500	(264,130)
Balance, end of period	332,550	231,730	332,550
Equity investments
Strategic Investments
Balance, beginning of period	212,996	277,676	325,105
Investments	103,888	15,016
Fair value adjustments:
Realized gains (losses) during the period, net	95,429	0	107,741
Cumulative unrealized gains (losses)	74,784	0
Unrealized losses on strategic investments still held at the reporting date	(4,093)	(81,196)
Exercises	(163,406)	1,500	(161,905)
Balance, end of period	319,598	212,996	319,598
Warrants
Strategic Investments
Balance, beginning of period	1,501	1,654	6,235
Investments	2,012	1,176
Fair value adjustments:
Realized gains (losses) during the period, net	0	0	0
Cumulative unrealized gains (losses)	855	0
Unrealized losses on strategic investments still held at the reporting date	0	(1,329)
Exercises	0	0	(90,165)
Balance, end of period	4,368	1,501	4,368
Call options
Strategic Investments
Balance, beginning of period	17,233	17,233	17,232
Investments	0	0
Fair value adjustments:
Realized gains (losses) during the period, net	(4,279)	0	(4,279)
Cumulative unrealized gains (losses)	0	0
Unrealized losses on strategic investments still held at the reporting date	(893)	0
Exercises	(12,061)	0	(12,060)
Balance, end of period	0	17,233	0
Debt investments
Strategic Investments
Balance, beginning of period	0		7,500
Investments	7,500
Fair value adjustments:
Realized gains (losses) during the period, net	0		0
Cumulative unrealized gains (losses)	1,084
Unrealized losses on strategic investments still held at the reporting date	0
Exercises	0		0
Balance, end of period	$ 8,584	$ 0	$ 8,584

Strategic Investments - Narrati

Strategic Investments - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 01, 2024	Jan. 31, 2024	Dec. 31, 2024
Equity Securities without Readily Determinable Fair Value [Line Items]
Cumulative unrealized net gains upward adjustments			$ 151,692
Strategic Investments And Warrants
Equity Securities without Readily Determinable Fair Value [Line Items]
Unrealized gain on investments			75,600
Cumulative unrealized net gains upward adjustments			240,700
Cumulative unrealized net gains downward adjustments			(89,000)
Debt investments
Equity Securities without Readily Determinable Fair Value [Line Items]
Debt security strategic investment, unrealized gain			1,100
Cumulative unrealized net gains upward adjustments			1,084
Fusus Inc
Equity Securities without Readily Determinable Fair Value [Line Items]
Fair value		$ 63,300	63,300
Gain on acquisition		$ 42,300	42,300
Dedrone Inc
Equity Securities without Readily Determinable Fair Value [Line Items]
Fair value	$ 112,200		112,200
Gain on acquisition	$ 51,600		$ 51,600

Strategic Investments - Sched_2

Strategic Investments - Schedule Of Debt Security Strategic Investment (Details) - USD ($) $ in Thousands	12 Months Ended		60 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024
Strategic Investments
Balance, beginning of period	$ 231,730	$ 296,563	$ 356,072
Realized gains (losses) on strategic investment transactions, net	91,150	0	103,462
Cumulative unrealized net gains upward adjustments	151,692		151,692
Exercises	(175,467)	1,500	(264,130)
Sales			(14,546)
Balance, end of period	332,550	231,730	332,550
Equity investments
Strategic Investments
Balance, beginning of period	212,996	277,676	325,105
Realized gains (losses) on strategic investment transactions, net	95,429	0	107,741
Cumulative unrealized net gains upward adjustments	63,203		63,203
Exercises	(163,406)	1,500	(161,905)
Sales			(14,546)
Balance, end of period	319,598	212,996	319,598
Warrants
Strategic Investments
Balance, beginning of period	1,501	1,654	6,235
Realized gains (losses) on strategic investment transactions, net	0	0	0
Cumulative unrealized net gains upward adjustments	88,298		88,298
Exercises	0	0	(90,165)
Sales			0
Balance, end of period	4,368	1,501	4,368
Call options
Strategic Investments
Balance, beginning of period	17,233	17,233	17,232
Realized gains (losses) on strategic investment transactions, net	(4,279)	0	(4,279)
Cumulative unrealized net gains downward adjustments	(893)		(893)
Exercises	(12,061)	0	(12,060)
Sales			0
Balance, end of period	0	17,233	0
Debt investments
Strategic Investments
Balance, beginning of period	0		7,500
Realized gains (losses) on strategic investment transactions, net	0		0
Cumulative unrealized net gains upward adjustments	1,084		1,084
Exercises	0		0
Sales			0
Balance, end of period	$ 8,584	$ 0	$ 8,584

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Total unconsolidated variable interest entities:
Total assets	$ 4,474,588	$ 3,409,174
Variable Interest Entity, Not Primary Beneficiary
Total unconsolidated variable interest entities:
Total assets	$ 25,171	$ 4,986

Other Long-Term Assets (Details

Other Long-Term Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred commissions	$ 154,894	$ 119,084
Operating lease assets	$ 44,567	$ 36,155
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total other long-term assets	Total other long-term assets
Deferred cost of goods sold	$ 14,123	$ 14,388
Cash surrender value of corporate-owned life insurance policies	8,398	7,558
Deferred implementation costs	1,305	2,175
Prepaid expenses, deposits and other	14,333	11,671
Total other long-term assets	$ 237,620	$ 191,031

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued commissions	$ 88,237	$ 58,641
Accrued bonus	59,780	56,188
Accrued income and other taxes	27,863	5,784
Accrued salaries and benefits	25,233	10,807
Accrued inventory in transit	13,101	12,197
Accrued cloud hosting fees	10,673	8,530
Accrued warranty expense	8,284	7,374	$ 811	$ 2,822
Accrued consulting and IT fees	7,846	5,421
Other accrued expenses	38,176	28,608
Total accrued liabilities	$ 279,193	$ 193,550

Convertible Senior Notes - Narr

Convertible Senior Notes - Narrative (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) day	Dec. 31, 2024 USD ($) instrument day	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Senior Convertible Notes
Net proceeds from issuance of convertible senior notes | $		$ 0	$ 0	$ 673,769
2027 Note Hedge
Senior Convertible Notes
Shares purchased (in shares) | instrument		3,016,680
2027 Warrants
Senior Convertible Notes
Warrants exercise trading day period | day		60
2027 Notes
Senior Convertible Notes
Aggregate principal amount | $	$ 690,000	$ 690,000	$ 690,000	690,000
Additional principal amount purchase option | $	$ 90,000			$ 90,000
Interest rate (as a percent)	0.50%	0.50%		0.50%
Issuance costs | $	$ 16,200			$ 16,200
Net proceeds from issuance of convertible senior notes | $	$ 673,800
Effective interest rate	0.99%			0.99%
Repurchase price (as percentage)		100%
2027 Notes | Convertible Debt | Debt Conversion Terms One
Senior Convertible Notes
Threshold percentage of stock price trigger	130%
Threshold trading days | day	20
Consecutive trading days | day	30
2027 Notes | Convertible Debt | Debt Conversion Terms Two
Senior Convertible Notes
Threshold percentage of stock price trigger	98%
Threshold trading days | day	5
Consecutive trading days | day	10

Convertible Senior Notes - Conv

Convertible Senior Notes - Conversion of Stock (Details) - 2027 Notes - Convertible Debt	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Debt Instrument [Line Items]
Debt instrument, convertible, conversion price (in usd per share) | $ / shares	$ 228.73
Conversion ratio	0.004372
Shares purchased (in shares) | shares	3,016,680

Convertible Senior Notes - Net

Convertible Senior Notes - Net carrying amount (Details) - 2027 Notes - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Senior Convertible Notes
Principal	$ 690,000	$ 690,000	$ 690,000
Unamortized debt issuance costs	(9,711)	(12,887)
Convertible notes carrying amount, net	$ 680,289	$ 677,113

Convertible Senior Notes - Esti

Convertible Senior Notes - Estimated Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
2027 Notes
Senior Convertible Notes
2027 Notes	$ 1,798.5	$ 873.3

Convertible Senior Notes - Inte

Convertible Senior Notes - Interest Expense (Details) - 2027 Note Hedge - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Senior Convertible Notes
Contractual interest expense	$ 3,451	$ 3,450
Amortization of debt issuance costs	3,176	3,126
Total interest expense	$ 6,627	$ 6,576

Convertible Senior Notes - Hedg

Convertible Senior Notes - Hedge (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) shares
2027 Notes
Senior Convertible Notes
Shares purchased (in shares) | shares	3,016,680
2027 Note Hedge
Senior Convertible Notes
Purchase Price | $	$ 194,994

Convertible Senior Notes - Warr

Convertible Senior Notes - Warrants (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / security shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Senior Convertible Notes
Proceeds	$ 0	$ 0	$ 124,269
2027 Warrants
Senior Convertible Notes
Proceeds	$ 124,269
Shares (in shares) | shares	3,016,680
Strike Price (in dollars per share) | $ / security	338.86

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2024 USD ($) lawsuit
Loss Contingencies [Line Items]
Open purchase order		$ 637.5
Other purchase obligation		$ 272.1
Number of lawsuits against Company | lawsuit		2
Amount self-insured for any product claim		$ 5
Pending Litigation
Loss Contingencies [Line Items]
Number of lawsuits against Company | lawsuit		2
Line of Credit
Loss Contingencies [Line Items]
Letters of credit outstanding amount		$ 7.8
Surety Bond
Loss Contingencies [Line Items]
Bonds outstanding		20.9
Expiring In Two Thousand Twenty Four | Surety Bond
Loss Contingencies [Line Items]
Letters of credit outstanding amount		7.8
Another Credit Facility | Line of Credit
Loss Contingencies [Line Items]
Letters of credit outstanding amount		0.1
Capacity
Loss Contingencies [Line Items]
Purchase commitment period	6 years
Purchase obligation	$ 425
Storage fees		81.9
Remaining purchase commitment		$ 265.5

Income Taxes - Income by Region

Income Taxes - Income by Region (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States							$ 357,484	$ 134,509	$ 191,353
Foreign							24,020	22,552	4,885
Income before provision for income taxes	$ 51,474	$ 165,896	$ 55,740	$ 71,729	$ (13,275)	$ 42,867	$ 381,504	$ 157,061	$ 196,238

Income Taxes - Significant Comp

Income Taxes - Significant Components of the Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal							$ 60,924	$ 33,084	$ 10,804
State							18,298	10,371	10,118
Foreign							3,388	2,804	2,892
Total current							82,610	46,259	23,814
Deferred:
Federal							(63,073)	(60,673)	26,180
State							(20,838)	(9,172)	(2,015)
Foreign							(1,815)	89	(2,146)
Total deferred							(85,726)	(69,756)	22,019
Tax impact of unrecorded tax benefits liability							7,586	4,775	3,475
Provision for (benefit from) income taxes	$ 10,001	$ 32,544	$ (1,321)	$ 10,420	$ (24,789)	$ (3,032)	$ 4,470	$ (18,722)	$ 49,308

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Company's Effective Income Tax Rate to the Federal Statutory Rate (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal income tax at the statutory rate							$ 80,120	$ 32,983	$ 41,224
Excess stock-based compensation benefit							(83,748)	(106,522)	(4,616)
Executive compensation limitation							51,858	77,350	5,784
R&D credits							(36,571)	(26,204)	(13,340)
Nontaxable gain on investments							(19,727)	0	0
Change in unrecognized tax benefits							7,356	4,351	3,215
Other permanent differences							5,176	1,201	1,118
Global intangible low-taxed income							3,081	1,890	653
Foreign derived intangible income deduction							(2,558)	(961)	(2,597)
Foreign tax credit							(1,914)	(1,922)	0
State income taxes, net of federal benefit							1,713	3,730	7,915
Change in valuation allowance							(903)	(4,695)	10,216
Tax effects of intercompany transactions							(222)	(2,033)	(417)
Difference between statutory and foreign tax rates							801	1,013	(428)
Other							8	1,097	581
Provision for (benefit from) income taxes	$ 10,001	$ 32,544	$ (1,321)	$ 10,420	$ (24,789)	$ (3,032)	$ 4,470	$ (18,722)	$ 49,308
Effective tax rate (as a percentage)							1.20%	(11.90%)	25.10%

Income Taxes - Components of De

Income Taxes - Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax assets:
R&D capitalization, net	$ 193,265	$ 99,746
Deferred revenue	66,948	59,443
Stock-based compensation	51,088	10,544
Convertible debt, net	31,603	39,649
Reserves, accruals, and other	21,634	12,264
R&D tax credit carryforward	19,100	16,554
Net operating loss carryforward	17,824	2,115
Accrued bonus	12,101	11,253
Lease liability	11,966	9,664
Inventory reserve	5,794	1,986
Deferred compensation	4,021	2,803
Strategic investments	0	6,109
Amortization	0	4,425
Total gross deferred tax assets	435,344	276,555
Valuation allowance	(23,054)	(21,600)	$ (26,368)	$ (16,168)
Total deferred income tax assets, net of valuation allowance	412,290	254,955
Deferred income tax liabilities:
Strategic investments	(42,260)	0
Amortization	(36,185)	0
Depreciation	(16,739)	(14,575)
Right of use asset	(10,639)	(8,404)
Prepaid expenses	(2,874)	(2,223)
Customer contract asset	(1,174)	(690)
Goodwill amortization	(509)	(314)
Other	0	(965)
Total deferred income tax liabilities	(110,380)	(27,171)
Deferred taxes are reflected in the consolidated balance sheet as follows:
Deferred tax assets, net	304,282	227,784
Non-current tax liabilities (included in other long-term liabilities)	(2,372)	0
Total	$ 301,910	$ 227,784

Income Taxes - Valuation Allowa

Income Taxes - Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance, beginning of period	$ 21,600	$ 26,368	$ 16,168
Tax provision (benefit)	(576)	(4,262)	10,409
Deductions charged to tax provision / benefit	(327)	(505)	(164)
Additions (reversals) to other accounts	2,357	(1)	(45)
Balance, end of period	$ 23,054	$ 21,600	$ 26,368

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Net operating loss carryforward	$ 17,824	$ 2,115
NOL not subject to expiration	15,500
NOL subject to expiration	2,300
R&D tax credit carryforward	19,100	16,554
R&D credits not subject to expiration	2,500
R&D credits subject to expiration	23,600
Valuation allowance	(23,054)	(21,600)	$ (26,368)	$ (16,168)
Increase (decrease) in valuation allowance	1,500	(4,800)
Change in valuation allowance recorded to tax expense	900	4,800
Additions (reversals) to other accounts	2,357	(1)	(45)
Deferred tax liability not recognized, amount of unrecognized deferred tax liability, undistributed earnings of foreign subsidiaries	1,100
Liability for unrecognized tax benefits	32,700
Increase in unrecognized tax benefits is reasonably possible	9,000
Income tax examination, interest expense	1,200	300	$ 100
Unrecognized tax benefits, accrued interest	1,800	$ 600
State And Local Jurisdiction (Net Of Benefit)
Income Tax Contingency [Line Items]
R&D tax credit carryforward	$ 26,100

Income Taxes - Roll Forward of

Income Taxes - Roll Forward of Liability for Unrecognized Tax Benefits Exclusive of Accrued Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits
Balance, beginning of period	$ 25,754	$ 21,492	$ 18,249
Increase in previous year tax positions	501		232
Decrease in previous years tax positions		(215)
Increase in current year tax positions	7,313	6,963	3,343
Decrease due to lapse of statute of limitations	(842)	(2,486)	(332)
Balance, end of period	$ 32,726	$ 25,754	$ 21,492

Line of Credit (Details)

Line of Credit (Details) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt instrument, variable interest rate, type [Extensible Enumeration]		Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt instrument covenant consolidated leverage ratio, actual		(0.17)
Debt instrument covenant consolidated interest coverage ratio, actual		71.07
Maximum
Debt Instrument [Line Items]
Debt instrument covenant consolidated leverage ratio		3.50
Debt instrument covenant consolidated interest coverage ratio		3.50
Line of Credit
Debt Instrument [Line Items]
Total availability under line of credit agreement	$ 30
Accordion feature allowing for increase in borrowing capacity	300
Line of credit borrowings		$ 0	$ 0
Letters of credit outstanding amount		7.8
Available borrowing under letter of credit		$ 192.2
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
Letter of Credit | 2027 Notes
Debt Instrument [Line Items]
Debt instrument, maturity, prior to stated maturity of convertible senior notes	6 months

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock and Preferred Stock (Details) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000

Stockholders' Equity - 2018 CEO

Stockholders' Equity - 2018 CEO Performance Award - Additional Information (Details) $ in Millions	Dec. 31, 2024 USD ($)
Chief Executive Officer | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 0

Stockholders' Equity - 2024 eXp

Stockholders' Equity - 2024 eXponential Stock Plan and 2024 CEO Performance Award (Details) $ / shares in Units, $ in Millions		12 Months Ended
	May 10, 2024 tranche	Dec. 31, 2024 USD ($) condition $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share) | $ / shares		$ 594.32
eXponential Stock Units | 2024 Employee XSP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares approved | shares		4,500,000
XSUs granted		$ 4.1
eXponential Stock Units | 2024 Employee XSP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of award tranches | tranche	7
Independent vesting conditions | condition		3
eXponential Stock Units | 2024 Employee XSP | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 1,834
Adj. EBITDA		$ 382
Share price (in dollars per share) | $ / shares		$ 247.40
eXponential Stock Units | 2024 Employee XSP | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 2,293
Adj. EBITDA		$ 497
Share price (in dollars per share) | $ / shares		$ 309.25
eXponential Stock Units | 2024 Employee XSP | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 2,866
Adj. EBITDA		$ 644
Share price (in dollars per share) | $ / shares		$ 386.56
eXponential Stock Units | 2024 Employee XSP | Share-Based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 3,583
Adj. EBITDA		$ 834
Share price (in dollars per share) | $ / shares		$ 483.20
eXponential Stock Units | 2024 Employee XSP | Share-Based Payment Arrangement, Tranche Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 4,479
Adj. EBITDA		$ 1,077
Share price (in dollars per share) | $ / shares		$ 604
eXponential Stock Units | 2024 Employee XSP | Share-Based Payment Arrangement, Tranche Six
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 5,599
Adj. EBITDA		$ 1,389
Share price (in dollars per share) | $ / shares		$ 755
eXponential Stock Units | 2024 Employee XSP | Share-Based Payment Arrangement, Tranche Seven
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 6,999
Adj. EBITDA		$ 1,739
Share price (in dollars per share) | $ / shares		$ 943.75
2024 CEO Performance Award | 2024 Employee XSP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares) | shares		679,102

Stockholders' Equity - 2024 CEO

Stockholders' Equity - 2024 CEO Performance Award and 2024 eXponential Stock Plan (Details)	Dec. 31, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Price Goal (in dollares per share)	$ 594.32

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Unit and Performance Stock Units Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units
Number of Units
Number of Units outstanding, beginning of year (in shares)	1,615	1,565	1,115
Granted (in shares)	1,131	915	1,142
Released (in shares)	(909)	(740)	(541)
Forfeited (in shares)	(153)	(125)	(151)
Number of Units outstanding, end of period (in shares)	1,684	1,615	1,565
Weighted Average Grant-Date Fair Value
Number of Units outstanding, beginning of year (in dollars per share)	$ 193.09	$ 145.48	$ 133.40
Granted (in dollars per share)	440.76	227.62	143.03
Released (in dollars per share)	196.35	140.81	117.49
Forfeited (in dollars per share)	208.12	157.95	138.99
Number of Units outstanding, beginning of year (in dollars per share)	$ 356.31	$ 193.09	$ 145.48
Aggregate intrinsic value at year end	$ 1,000,769
Performance Stock Units
Number of Units
Number of Units outstanding, beginning of year (in shares)	394	1,369	1,499
Granted (in shares)	4,888	319	158
Released (in shares)	(23)	(1,238)	(78)
Forfeited (in shares)	(394)	(56)	(210)
Number of Units outstanding, end of period (in shares)	4,865	394	1,369
Weighted Average Grant-Date Fair Value
Number of Units outstanding, beginning of year (in dollars per share)	$ 201.61	$ 43.43	$ 39.86
Granted (in dollars per share)	263.13	218.04	106.57
Released (in dollars per share)	140.90	37.98	107.58
Forfeited (in dollars per share)	232.94	48.40	41.62
Number of Units outstanding, beginning of year (in dollars per share)	$ 261.18	$ 201.61	$ 43.43
Aggregate intrinsic value at year end	$ 2,891,142

Stockholders' Equity - RSU and

Stockholders' Equity - RSU and PSU - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share)	$ 594.32
Tax payments, for net share settlement of share based award	$ 58,178	$ 107,894	$ 4,870
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value, RSUs vested	426,300	161,700	84,900
Unrecognized stock-based compensation expense related to non-vested stock options	$ 530,400
Weighted average period over which costs are recognized	2 years 3 months 21 days
Shares withheld, for net share settlement of share based award (in shares)	122,020
Tax payments, for net share settlement of share based award	$ 58,100
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value, RSUs vested	8,400	$ 256,500	$ 10,200
Unrecognized stock-based compensation expense related to non-vested stock options	$ 756,200
Weighted average period over which costs are recognized	4 years 2 months 26 days
Shares withheld, for net share settlement of share based award (in shares)	370
Tax payments, for net share settlement of share based award	$ 100

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Option Activity (Details) - Employee Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Options
Options outstanding, beginning of year (in shares)	531,000	2,438,000	2,438,000
Granted (in shares)	0	0	0
Exercised (in shares)	(510,000)	(1,907,000)	0
Expired / terminated (in shares)	0	0	0
Options outstanding, end of year (in shares)	21,000	531,000	2,438,000
Number of Options, Options exercisable, end of year (in shares)	21,000	531,000	1,377,000
Weighted Average Exercise Price
Options outstanding, beginning of year (in dollars per share)	$ 28.58	$ 28.58	$ 28.58
Granted (in dollars per share)	0		0
Exercised (in dollars per share)	28.58	28.58	0
Expired / terminated (in dollars per share)	0		0
Options outstanding, end of period (in dollars per share)	28.58	28.58	28.58
Weighted Average Exercise Price, Options exercisable, end of period (in dollars per share)	$ 28.58	$ 28.58	$ 28.58

Stockholders' Equity - Stock _2

Stockholders' Equity - Stock Option Activity - Additional Information (Details) - Employee Stock Option - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 178.1	$ 323	$ 0
Number of options exercised (in shares)	510	1,907	0
Aggregate intrinsic value, options exercisable, end of period	$ 11.8

Stockholders' Equity - Stock _3

Stockholders' Equity - Stock Options Outstanding and Exercisable (Details) - Employee Stock Option - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding (in shares)	21	531	2,438	2,438
Weighted Average Exercise Price (in dollars per share)	$ 28.58	$ 28.58	$ 28.58	$ 28.58
Weighted Number of Options Exercisable (in shares)	21	531	1,377
Average Exercise Price (in dollars per share)	$ 28.58	$ 28.58	$ 28.58
28.58
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Price (in dollars per share)	$ 28.58
Number of Options Outstanding (in shares)	21
Weighted Average Exercise Price (in dollars per share)	$ 28.58
Average Remaining Contractual Life (Years)	3 years 1 month 24 days
Weighted Number of Options Exercisable (in shares)	21
Average Exercise Price (in dollars per share)	$ 28.58
Average Remaining Contractual Life (Years)	3 years 1 month 24 days

Stockholders' Equity - Stock-Ba

Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 382,604	$ 131,358	$ 106,176
Income tax benefit	79,275	13,509	25,154
Cost of product and service sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	60,089	6,595	4,607
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	190,561	58,533	51,301
Research and development expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 131,954	$ 66,230	$ 50,268

Stockholders' Equity - Stock In

Stockholders' Equity - Stock Incentive Plan and Stock Inducement Plan (Details) shares in Millions	Dec. 31, 2024 shares
Equity [Abstract]
Shares available for grant (in shares)	3.2

Stockholders' Equity - Stock _4

Stockholders' Equity - Stock Incentive Plan (Details) - shares shares in Millions	1 Months Ended
	May 31, 2022	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)		3.2
2022 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized (in shares)	2.2

Stockholders' Equity - At-the-M

Stockholders' Equity - At-the-Market equity offering - Additional Information (Details) - ATM Equity Offering - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common stock shares to be sold (in shares)	2,000,000
Number of shares issued in transaction	0	467,594	0
Aggregate gross proceeds		$ 96.4
Net proceeds		94.7
Stock issuance costs		$ 1.7

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchase Plan (Details) - 2016 Stock Incentive Plan - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Feb. 29, 2016
Equity, Class of Treasury Stock [Line Items]
Outstanding common stock repurchase program authorized amount (up to)			$ 50
Remaining authorized repurchase amount	$ 16.3	$ 16.3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated other comprehensive income (loss):
Beginning balance	$ 1,615,765	$ 1,270,666	$ 1,050,233
Other comprehensive (loss) income	(7,505)	(3,500)	(5,862)
Ending balance	2,327,665	1,615,765	1,270,666
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss):
Beginning balance	(10,679)	(7,179)	(1,317)
Other comprehensive (loss) income	(7,505)	(3,500)	(5,862)
Ending balance	(18,184)	(10,679)	(7,179)
Unrealized Gains (Losses) on Available-for-Sale Investments
Accumulated other comprehensive income (loss):
Beginning balance	(399)	(1,251)	(207)
Other comprehensive (loss) income	369	852	(1,044)
Ending balance	(30)	(399)	(1,251)
Foreign Currency Translation
Accumulated other comprehensive income (loss):
Beginning balance	(10,280)	(5,928)	(1,110)
Other comprehensive (loss) income	(7,874)	(4,352)	(4,818)
Ending balance	$ (18,154)	$ (10,280)	$ (5,928)

Leases - Balance Sheet (Details

Leases - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Operating lease assets	$ 44,567	$ 36,155
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Current
Operating	$ 9,453	$ 7,938
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Noncurrent
Operating	$ 41,383	$ 33,550
Present value of lease payments	$ 50,836	$ 41,488

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Total operating lease expense	$ 14,568	$ 10,025	$ 8,703

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Balance Sheet Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 12,284	$ 8,846	$ 9,216
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$ 14,292	$ 5,927	$ 21,815

Leases - Weighted-Average Remai

Leases - Weighted-Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2024	Dec. 31, 2023
Weighted average remaining lease term:
Operating leases	7 years 8 months 12 days	7 years 1 month 6 days
Weighted average discount rate:
Operating leases	7.60%	6.05%

Leases - Minimum Lease Payments

Leases - Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating
2025	$ 13,791
2026	8,994
2027	6,606
2028	6,120
2029	5,546
Thereafter	28,409
Total minimum lease payments	69,466
Less: Amount representing interest	(18,630)
Present value of lease payments	$ 50,836	$ 41,488

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Defined contribution plan, cost	$ 17.2	$ 14.5	$ 10.9

Segment Data (Details)

Segment Data (Details) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 372,704	$ 344,341	$ 2,082,526	$ 1,560,699	$ 1,187,143
Cost of sales	197,080	201,243	166,384	156,622	142,363	139,877	841,146	605,246	461,030
Other segment items							74,067	9,739	7,270
Adjusted gross margin							1,315,447	965,192	733,383
Selling, general and administrative	170,964	151,075	137,273	122,357	119,308	115,946	741,247	494,884	399,330
Research and development							441,593	303,719	233,810
Interest income, net							36,595	42,112	4,294
Other income (loss), net							286,369	(41,901)	98,971
Income before provision for income taxes	51,474	165,896	55,740	71,729	(13,275)	42,867	381,504	157,061	196,238
Depreciation and amortization							48,425	19,315	23,116
Provisions for inventory							17,800	5,400
Operating Segments
Segment Reporting Information [Line Items]
Net sales							2,082,526	1,560,699	1,187,143
Cost of sales							841,146	605,246	461,030
Depreciation and amortization							35,381	17,569	11,131
Stock-based compensation expense							60,089	6,595	4,607
Provisions for inventory							16,599	4,394	0
Warranty reserve expense							5,592	8,062	198
Other
Segment Reporting Information [Line Items]
Other segment items							74,067	9,739	7,270
Net sales from products
Segment Reporting Information [Line Items]
Net sales	292,763	270,424	256,439	255,055	233,688	218,820	1,221,292	964,002	797,177
Cost of sales	142,627	152,160	123,900	114,613	100,938	108,257	618,136	447,708	360,909
Net sales from products | Operating Segments
Segment Reporting Information [Line Items]
Net sales							1,221,292	964,002	797,177
Net sales from services
Segment Reporting Information [Line Items]
Net sales	210,473	189,447	173,937	158,223	139,016	125,521	861,234	596,697	389,966
Cost of sales	$ 54,453	$ 49,083	$ 42,484	$ 42,009	$ 41,425	$ 31,620	223,010	157,538	100,121
Net sales from services | Operating Segments
Segment Reporting Information [Line Items]
Net sales							861,234	596,697	389,966
TASER
Segment Reporting Information [Line Items]
Net sales							818,673	613,510	531,044
Adjusted gross margin							514,968	373,768	337,367
TASER | Operating Segments
Segment Reporting Information [Line Items]
Net sales							818,673	613,510	531,044
Cost of sales							338,642	241,977	195,239
Depreciation and amortization							18,789	12,346	7,049
Stock-based compensation expense							34,906	2,234	1,561
Provisions for inventory							4,508	3,642	0
Warranty reserve expense							4,743	7,325	53
TASER | Other
Segment Reporting Information [Line Items]
Other segment items							34,937	2,235	1,562
TASER | Net sales from products | Operating Segments
Segment Reporting Information [Line Items]
Net sales							763,761	577,610	511,057
TASER | Net sales from services | Operating Segments
Segment Reporting Information [Line Items]
Net sales							54,912	35,900	19,987
Software and Sensors
Segment Reporting Information [Line Items]
Net sales							1,263,853	947,189	656,099
Adjusted gross margin							800,479	591,424	396,016
Software and Sensors | Operating Segments
Segment Reporting Information [Line Items]
Net sales							1,263,853	947,189	656,099
Cost of sales							502,504	363,269	265,791
Depreciation and amortization							16,592	5,223	4,082
Stock-based compensation expense							25,183	4,361	3,046
Provisions for inventory							12,091	752	0
Warranty reserve expense							849	737	145
Software and Sensors | Other
Segment Reporting Information [Line Items]
Other segment items							39,130	7,504	5,708
Software and Sensors | Net sales from products | Operating Segments
Segment Reporting Information [Line Items]
Net sales							457,531	386,392	286,120
Software and Sensors | Net sales from services | Operating Segments
Segment Reporting Information [Line Items]
Net sales							$ 806,322	$ 560,797	$ 369,979

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
	Oct. 01, 2024	Jan. 31, 2024	Jan. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition
Goodwill				$ 756,838	$ 57,945	$ 44,983
Fusus Inc
Business Acquisition
Remaining interest acquired		79.70%	79.70%
Consideration		$ 241,300
Ownership interest		20.30%	20.30%
Fair value		$ 63,300		63,300
Gain on acquisition		42,300		42,300
Transaction costs				4,700	$ 2,600
Goodwill		249,900	$ 249,900
Identifiable intangible assets		72,900	72,900
Other net liabilities		7,800	7,800
Deferred tax liability		10,400	$ 10,400
Intangible assets, weighted average useful life			7 years 6 months
Fusus Inc | Developed technology
Business Acquisition
Intangible assets acquired		56,600	$ 56,600
Fusus Inc | Customer relationships
Business Acquisition
Intangible assets acquired		14,400	14,400
Fusus Inc | Trade Names
Business Acquisition
Intangible assets acquired		$ 1,900	$ 1,900
Dedrone Inc
Business Acquisition
Remaining interest acquired	79.80%
Consideration	$ 391,100
Ownership interest	20.20%
Fair value	$ 112,200			112,200
Gain on acquisition	51,600			51,600
Transaction costs				$ 13,000
Goodwill	451,100
Identifiable intangible assets	100,500
Other net liabilities	47,100
Deferred tax liability	$ 1,200
Intangible assets, weighted average useful life	5 years 6 months
Dedrone Inc | Developed technology
Business Acquisition
Intangible assets acquired	$ 41,000
Dedrone Inc | Customer relationships
Business Acquisition
Intangible assets acquired	15,000
Dedrone Inc | Trade Names
Business Acquisition
Intangible assets acquired	3,500
Dedrone Inc | In-process research and development
Business Acquisition
Intangible assets acquired	$ 41,000

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	1 Months Ended
	Feb. 28, 2025 USD ($)
Subsequent Events
Subsequent Event [Line Items]
Payments to acquire equity method investments	$ 173.3

Revision of Prior Period Fina_3

Revision of Prior Period Financial Statements - Balance Sheets (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification [Line Items]
Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023	$ 547,572,000	$ 412,961,000
Contract assets, net	367,929,000	287,232,000
Prepaid expenses and other current assets	130,315,000	103,055,000
Total current assets	2,297,481,000	2,393,642,000
Deferred tax assets, net	304,282,000	227,784,000
Long-term contract assets, net	119,876,000	84,382,000
Other long-term assets	237,620,000	191,031,000
Total assets	4,474,588,000	3,409,174,000
Accounts payable	71,955,000	65,852,000
Accrued liabilities	279,193,000	193,550,000
Current portion of deferred revenue	612,955,000	470,415,000
Total current liabilities	997,586,000	761,539,000
Deferred revenue, net of current portion	360,685,000	270,901,000
Other long-term liabilities	26,096,000	20,915,000
Total liabilities	2,146,923,000	1,793,409,000
Retained earnings	812,014,000	434,980,000
Total stockholders’ equity	2,327,665,000	1,615,765,000	$ 1,270,666,000	$ 1,050,233,000
Total liabilities and stockholders’ equity	4,474,588,000	3,409,174,000
Accounts receivable and notes receivable, current	$ 3,322,000	2,392,000
As Reported
Reclassification [Line Items]
Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023		417,690,000
Contract assets, net		275,779,000
Prepaid expenses and other current assets		112,786,000
Total current assets		2,396,649,000
Deferred tax assets, net		229,513,000
Long-term contract assets, net		77,710,000
Other long-term assets		220,638,000
Total assets		3,436,845,000
Accounts payable		88,326,000
Accrued liabilities		188,230,000
Current portion of deferred revenue		491,691,000
Total current liabilities		799,969,000
Deferred revenue, net of current portion		281,852,000
Other long-term liabilities		2,936,000
Total liabilities		1,824,811,000
Retained earnings		431,249,000
Total stockholders’ equity		1,612,034,000	1,268,491,000	1,047,849,000
Total liabilities and stockholders’ equity		3,436,845,000
Revision
Reclassification [Line Items]
Accounts and notes receivable, net of allowance of $2,392 as of December 31, 2023		(4,729,000)
Contract assets, net		11,453,000
Prepaid expenses and other current assets		(9,731,000)
Total current assets		(3,007,000)
Deferred tax assets, net		(1,729,000)
Long-term contract assets, net		6,672,000
Other long-term assets		(29,607,000)
Total assets		(27,671,000)
Accounts payable		(22,474,000)
Accrued liabilities		5,320,000
Current portion of deferred revenue		(21,276,000)
Total current liabilities		(38,430,000)
Deferred revenue, net of current portion		(10,951,000)
Other long-term liabilities		17,979,000
Total liabilities		(31,402,000)
Retained earnings		3,731,000
Total stockholders’ equity		3,731,000	$ 2,175,000	$ 2,384,000
Total liabilities and stockholders’ equity		$ (27,671,000)

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								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 372,704	$ 344,341	$ 2,082,526	$ 1,560,699	$ 1,187,143
Cost of sales			197,080	201,243	166,384	156,622	142,363	139,877	841,146	605,246	461,030
Gross margin			306,156	258,628	263,992	256,656	230,341	204,464	1,241,380	955,453	726,113
Selling, general and administrative			170,964	151,075	137,273	122,357	119,308	115,946	741,247	494,884	399,330
Total operating expenses			272,398	242,172	221,245	199,237	191,248	186,873	1,182,840	798,603	633,140
Income from operations			33,758	16,456	42,747	57,419	39,093	17,591	58,540	156,850	92,973
Income before provision for income taxes			51,474	165,896	55,740	71,729	(13,275)	42,867	381,504	157,061	196,238
Provision for (benefit from) income taxes			10,001	32,544	(1,321)	10,420	(24,789)	(3,032)	4,470	(18,722)	49,308
Net income			$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 377,034	$ 175,783	$ 146,930
Net income per common and common equivalent - Basic (in dollars per share)			$ 0.55	$ 1.77	$ 0.76	$ 0.82	$ 0.16	$ 0.63	$ 4.98	$ 2.37	$ 2.07
Net income per common and common equivalent - Diluted (in dollars per share)			$ 0.53	$ 1.73	$ 0.75	$ 0.81	$ 0.15	$ 0.62	$ 4.80	$ 2.33	$ 2.03
Comprehensive income			$ 38,865	$ 132,445	$ 59,251	$ 55,166	$ 10,107	$ 47,759	$ 369,529	$ 172,283	$ 141,068
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales	$ 575,145	$ 544,274	504,099	460,736	432,142	413,601	374,605	343,043		1,563,391	1,189,935
Cost of sales			200,364	200,690	168,255	158,329	142,484	138,941		608,009	461,297
Gross margin	345,849	330,747	303,735	260,046	263,887	255,272	232,121	204,102		955,382	728,638
Selling, general and administrative			169,427	152,669	137,106	123,279	119,922	116,567		496,874	401,575
Total operating expenses			270,861	243,766	221,078	200,159	191,862	187,494		800,593	635,385
Income from operations	(15,755)	24,081	32,874	16,280	42,809	55,113	40,259	16,608		154,789	93,253
Income before provision for income taxes			50,590	165,720	55,802	69,423	(12,109)	41,884		155,000	196,518
Provision for (benefit from) income taxes			9,793	32,502	(1,469)	10,026	(24,529)	(3,255)		(19,227)	49,379
Net income	$ 135,184	$ 67,025	$ 40,797	$ 133,218	$ 57,271	$ 59,397	$ 12,420	$ 45,139		$ 174,227	147,139
Net income per common and common equivalent - Basic (in dollars per share)	$ 1.77	$ 0.89	$ 0.54	$ 1.77	$ 0.76	$ 0.79	$ 0.17	$ 0.62		$ 2.35
Net income per common and common equivalent - Diluted (in dollars per share)	$ 1.67	$ 0.86	$ 0.53	$ 1.73	$ 0.75	$ 0.78	$ 0.16	$ 0.61		$ 2.31
Comprehensive income			$ 38,189	$ 132,311	$ 59,461	$ 53,254	$ 11,013	$ 46,999		$ 170,727	141,277
Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			(863)	(865)	(1,766)	(323)	(1,901)	1,298		(2,692)	(2,792)
Cost of sales			(3,284)	553	(1,871)	(1,707)	(121)	936		(2,763)	(267)
Gross margin			2,421	(1,418)	105	1,384	(1,780)	362		71	(2,525)
Selling, general and administrative			1,537	(1,594)	167	(922)	(614)	(621)		(1,990)	(2,245)
Total operating expenses			1,537	(1,594)	167	(922)	(614)	(621)		(1,990)	(2,245)
Income from operations			884	176	(62)	2,306	(1,166)	983		2,061	(280)
Income before provision for income taxes			884	176	(62)	2,306	(1,166)	983		2,061	(280)
Provision for (benefit from) income taxes			208	42	148	394	(260)	223		505	(71)
Net income			$ 676	$ 134	$ (210)	$ 1,912	$ (906)	$ 760		$ 1,556	(209)
Net income per common and common equivalent - Basic (in dollars per share)			$ 0.01	$ 0	$ 0	$ 0.03	$ (0.01)	$ 0.01		$ 0.02
Net income per common and common equivalent - Diluted (in dollars per share)			$ 0	$ 0	$ 0	$ 0.03	$ (0.01)	$ 0.01		$ 0.02
Comprehensive income			$ 676	$ 134	$ (210)	$ 1,912	$ (906)	$ 760		$ 1,556	(209)
Net sales from products
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			292,763	270,424	256,439	255,055	233,688	218,820	1,221,292	964,002	797,177
Cost of sales			142,627	152,160	123,900	114,613	100,938	108,257	618,136	447,708	360,909
Net sales from products | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			295,185	272,048	258,405	256,443	233,474	219,389		967,711	801,388
Cost of sales			145,154	151,698	125,664	116,278	101,192	107,584		450,718	363,219
Net sales from products | Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			(2,422)	(1,624)	(1,966)	(1,388)	214	(569)		(3,709)	(4,211)
Cost of sales			(2,527)	462	(1,764)	(1,665)	(254)	673		(3,010)	(2,310)
Net sales from services
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			210,473	189,447	173,937	158,223	139,016	125,521	861,234	596,697	389,966
Cost of sales			54,453	49,083	42,484	42,009	41,425	31,620	$ 223,010	157,538	100,121
Net sales from services | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			208,914	188,688	173,737	157,158	141,131	123,654		595,680	388,547
Cost of sales			55,210	48,992	42,591	42,051	41,292	31,357		157,291	98,078
Net sales from services | Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			1,559	759	200	1,065	(2,115)	1,867		1,017	1,419
Cost of sales			$ (757)	$ 91	$ (107)	$ (42)	$ 133	$ 263		$ 247	$ 2,043

Revision of Prior Period Fina_5

Revision of Prior Period Financial Statements - Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				$ 1,615,765				$ 1,270,666	$ 1,615,765	$ 1,270,666	$ 1,050,233
Net income			$ 41,473	133,352	$ 57,061	$ 61,309	$ 11,514	45,899	377,034	175,783	146,930
Ending balance	$ 2,327,665				1,615,765				2,327,665	1,615,765	1,270,666
As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				1,612,034				1,268,491	1,612,034	1,268,491	1,047,849
Net income	135,184	$ 67,025	40,797	133,218	57,271	59,397	12,420	45,139		174,227	147,139
Ending balance					1,612,034					1,612,034	1,268,491
Revision
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				3,731				2,175	3,731	2,175	2,384
Net income			$ 676	134	(210)	$ 1,912	$ (906)	760		1,556	(209)
Ending balance					3,731					3,731	2,175
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				434,980				259,197	434,980	259,197	112,267
Net income									377,034	175,783	146,930
Ending balance	$ 812,014				434,980				812,014	434,980	259,197
Retained Earnings | As Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				431,249				257,022	431,249	257,022	109,883
Net income										174,227	147,139
Ending balance					431,249					431,249	257,022
Retained Earnings | Revision
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				$ 3,731				$ 2,175	$ 3,731	2,175	2,384
Net income										1,556	(209)
Ending balance					$ 3,731					$ 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								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income			$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 377,034	$ 175,783	$ 146,930
Deferred income taxes									(85,096)	(72,497)	22,019
Provision for bad debts and inventory										5,484	701
Change in assets and liabilities:
Receivables and contract assets									(245,842)	(178,989)	(78,226)
Inventory									607	(77,626)	(95,011)
Deferred revenue									155,641	146,819	155,566
Accounts payable, accrued and other liabilities									54,519	65,329	80,978
Prepaid expenses and other assets										(80,351)	(43,976)
Net cash provided by operating activities									$ 408,312	189,263	235,361
As Reported
Cash flows from operating activities:
Net income	$ 135,184	$ 67,025	40,797	133,218	57,271	59,397	12,420	45,139		174,227	147,139
Deferred income taxes										(73,002)	22,090
Provision for bad debts and inventory										1,090	699
Change in assets and liabilities:
Receivables and contract assets										(172,524)	(73,228)
Inventory										(71,896)	(95,987)
Deferred revenue										164,043	159,718
Accounts payable, accrued and other liabilities										64,384	80,757
Prepaid expenses and other assets										(102,370)	(52,207)
Net cash provided by operating activities										189,263	235,361
Revision
Cash flows from operating activities:
Net income			$ 676	$ 134	$ (210)	$ 1,912	$ (906)	$ 760		1,556	(209)
Deferred income taxes										505	(71)
Provision for bad debts and inventory										4,394	2
Change in assets and liabilities:
Receivables and contract assets										(6,465)	(4,998)
Inventory										(5,730)	976
Deferred revenue										(17,224)	(4,152)
Accounts payable, accrued and other liabilities										945	221
Prepaid expenses and other assets										22,019	8,231
Net cash provided by operating activities										$ 0	$ 0

Impact of Revision on Quarter_3

Impact of Revision on Quarterly Statements of Operations and Comprehensive Income - Condensed Statements Of Operations(Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 372,704	$ 344,341	$ 2,082,526	$ 1,560,699	$ 1,187,143
Gross margin			306,156	258,628	263,992	256,656	230,341	204,464	1,241,380	955,453	726,113
Income from operations			33,758	16,456	42,747	57,419	39,093	17,591	58,540	156,850	92,973
Net income			$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 377,034	$ 175,783	$ 146,930
Net income per common and common equivalent - Basic (in dollars per share)			$ 0.55	$ 1.77	$ 0.76	$ 0.82	$ 0.16	$ 0.63	$ 4.98	$ 2.37	$ 2.07
Net income per common and common equivalent - Diluted (in dollars per share)			$ 0.53	$ 1.73	$ 0.75	$ 0.81	$ 0.15	$ 0.62	$ 4.80	$ 2.33	$ 2.03
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales	$ 575,145	$ 544,274	$ 504,099	$ 460,736	$ 432,142	$ 413,601	$ 374,605	$ 343,043		$ 1,563,391	$ 1,189,935
Gross margin	345,849	330,747	303,735	260,046	263,887	255,272	232,121	204,102		955,382	728,638
Income from operations	(15,755)	24,081	32,874	16,280	42,809	55,113	40,259	16,608		154,789	93,253
Net income	$ 135,184	$ 67,025	$ 40,797	$ 133,218	$ 57,271	$ 59,397	$ 12,420	$ 45,139		$ 174,227	$ 147,139
Net income per common and common equivalent - Basic (in dollars per share)	$ 1.77	$ 0.89	$ 0.54	$ 1.77	$ 0.76	$ 0.79	$ 0.17	$ 0.62		$ 2.35
Net income per common and common equivalent - Diluted (in dollars per share)	$ 1.67	$ 0.86	$ 0.53	$ 1.73	$ 0.75	$ 0.78	$ 0.16	$ 0.61		$ 2.31

Impact of Revision on Quarter_4

Impact of Revision on Quarterly Statements of Operations and Comprehensive Income - Narrative (Unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended							12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Decrease in revenue		$ (503,236)	$ (459,871)	$ (430,376)	$ (413,278)	$ (372,704)	$ (344,341)	$ (2,082,526)	$ (1,560,699)	$ (1,187,143)
Decrease in net income		$ (41,473)	$ (133,352)	$ (57,061)	$ (61,309)	$ (11,514)	$ (45,899)	$ (377,034)	$ (175,783)	$ (146,930)
Error Correction, Other
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Decrease in revenue	$ 5,100
Decrease in net income	3,700
Revision of Prior Period, Error Correction, Adjustment | Error Correction, Other
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Decrease in revenue	3,300
Decrease in net income	$ 2,300

Impact of Revision on Quarter_5

Impact of Revision on Quarterly Statements of Operations and Comprehensive Income (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			$ 503,236	$ 459,871	$ 430,376	$ 413,278	$ 372,704	$ 344,341	$ 2,082,526	$ 1,560,699	$ 1,187,143
Cost of sales			197,080	201,243	166,384	156,622	142,363	139,877	841,146	605,246	461,030
Gross margin			306,156	258,628	263,992	256,656	230,341	204,464	1,241,380	955,453	726,113
Selling, general and administrative			170,964	151,075	137,273	122,357	119,308	115,946	741,247	494,884	399,330
Total operating expenses			272,398	242,172	221,245	199,237	191,248	186,873	1,182,840	798,603	633,140
Income from operations			33,758	16,456	42,747	57,419	39,093	17,591	58,540	156,850	92,973
Income before provision for income taxes			51,474	165,896	55,740	71,729	(13,275)	42,867	381,504	157,061	196,238
Provision for (benefit from) income taxes			10,001	32,544	(1,321)	10,420	(24,789)	(3,032)	4,470	(18,722)	49,308
Net income			$ 41,473	$ 133,352	$ 57,061	$ 61,309	$ 11,514	$ 45,899	$ 377,034	$ 175,783	$ 146,930
Net income per common and common equivalent - Basic (in dollars per share)			$ 0.55	$ 1.77	$ 0.76	$ 0.82	$ 0.16	$ 0.63	$ 4.98	$ 2.37	$ 2.07
Net income per common and common equivalent - Diluted (in dollars per share)			$ 0.53	$ 1.73	$ 0.75	$ 0.81	$ 0.15	$ 0.62	$ 4.80	$ 2.33	$ 2.03
Comprehensive income			$ 38,865	$ 132,445	$ 59,251	$ 55,166	$ 10,107	$ 47,759	$ 369,529	$ 172,283	$ 141,068
As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales	$ 575,145	$ 544,274	504,099	460,736	432,142	413,601	374,605	343,043		1,563,391	1,189,935
Cost of sales			200,364	200,690	168,255	158,329	142,484	138,941		608,009	461,297
Gross margin	345,849	330,747	303,735	260,046	263,887	255,272	232,121	204,102		955,382	728,638
Selling, general and administrative			169,427	152,669	137,106	123,279	119,922	116,567		496,874	401,575
Total operating expenses			270,861	243,766	221,078	200,159	191,862	187,494		800,593	635,385
Income from operations	(15,755)	24,081	32,874	16,280	42,809	55,113	40,259	16,608		154,789	93,253
Income before provision for income taxes			50,590	165,720	55,802	69,423	(12,109)	41,884		155,000	196,518
Provision for (benefit from) income taxes			9,793	32,502	(1,469)	10,026	(24,529)	(3,255)		(19,227)	49,379
Net income	$ 135,184	$ 67,025	$ 40,797	$ 133,218	$ 57,271	$ 59,397	$ 12,420	$ 45,139		$ 174,227	147,139
Net income per common and common equivalent - Basic (in dollars per share)	$ 1.77	$ 0.89	$ 0.54	$ 1.77	$ 0.76	$ 0.79	$ 0.17	$ 0.62		$ 2.35
Net income per common and common equivalent - Diluted (in dollars per share)	$ 1.67	$ 0.86	$ 0.53	$ 1.73	$ 0.75	$ 0.78	$ 0.16	$ 0.61		$ 2.31
Comprehensive income			$ 38,189	$ 132,311	$ 59,461	$ 53,254	$ 11,013	$ 46,999		$ 170,727	141,277
Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			(863)	(865)	(1,766)	(323)	(1,901)	1,298		(2,692)	(2,792)
Cost of sales			(3,284)	553	(1,871)	(1,707)	(121)	936		(2,763)	(267)
Gross margin			2,421	(1,418)	105	1,384	(1,780)	362		71	(2,525)
Selling, general and administrative			1,537	(1,594)	167	(922)	(614)	(621)		(1,990)	(2,245)
Total operating expenses			1,537	(1,594)	167	(922)	(614)	(621)		(1,990)	(2,245)
Income from operations			884	176	(62)	2,306	(1,166)	983		2,061	(280)
Income before provision for income taxes			884	176	(62)	2,306	(1,166)	983		2,061	(280)
Provision for (benefit from) income taxes			208	42	148	394	(260)	223		505	(71)
Net income			$ 676	$ 134	$ (210)	$ 1,912	$ (906)	$ 760		$ 1,556	(209)
Net income per common and common equivalent - Basic (in dollars per share)			$ 0.01	$ 0	$ 0	$ 0.03	$ (0.01)	$ 0.01		$ 0.02
Net income per common and common equivalent - Diluted (in dollars per share)			$ 0	$ 0	$ 0	$ 0.03	$ (0.01)	$ 0.01		$ 0.02
Comprehensive income			$ 676	$ 134	$ (210)	$ 1,912	$ (906)	$ 760		$ 1,556	(209)
Net sales from products
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			292,763	270,424	256,439	255,055	233,688	218,820	1,221,292	964,002	797,177
Cost of sales			142,627	152,160	123,900	114,613	100,938	108,257	618,136	447,708	360,909
Net sales from products | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			295,185	272,048	258,405	256,443	233,474	219,389		967,711	801,388
Cost of sales			145,154	151,698	125,664	116,278	101,192	107,584		450,718	363,219
Net sales from products | Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			(2,422)	(1,624)	(1,966)	(1,388)	214	(569)		(3,709)	(4,211)
Cost of sales			(2,527)	462	(1,764)	(1,665)	(254)	673		(3,010)	(2,310)
Net sales from services
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			210,473	189,447	173,937	158,223	139,016	125,521	861,234	596,697	389,966
Cost of sales			54,453	49,083	42,484	42,009	41,425	31,620	$ 223,010	157,538	100,121
Net sales from services | As Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			208,914	188,688	173,737	157,158	141,131	123,654		595,680	388,547
Cost of sales			55,210	48,992	42,591	42,051	41,292	31,357		157,291	98,078
Net sales from services | Revision
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net sales			1,559	759	200	1,065	(2,115)	1,867		1,017	1,419
Cost of sales			$ (757)	$ 91	$ (107)	$ (42)	$ 133	$ 263		$ 247	$ 2,043