--- title: "Axon Enterprise: Business Model" description: "Axon Enterprise revenue by region from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained." canonical: https://www.getswoopr.com/stocks/companies/axon-enterprise/business-model/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Axon Enterprise: Business Model & Revenue Engine ## Direct Answer Axon Enterprise reports revenue across 2 geographic regions in its fiscal 2025 Form 10-K. United States is the largest, with $2.3 billion of revenue (83% of the total), followed by Outside the United States at $475 million (17%). 83% of revenue came from the United States. ## How Does Axon Enterprise Make Money? United States supplies 83% of revenue, so Axon Enterprise's results move mostly with that one region; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Outside the United States grew fastest (+54.4%) and United States slowest (+29.8%), so the revenue mix tilts toward Outside the United States while that gap lasts. | Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change | | --- | --- | --- | --- | --- | | United States | $2.3 billion | $1.8 billion | 82.9% | 29.8% | | Outside the United States | $475 million | $307 million | 17.1% | 54.4% | ![Bar chart of Axon Enterprise revenue by region for fiscal 2025: United States 82.9%, Outside the United States 17.1%.](https://www.getswoopr.com/images/charts/axon-enterprise-business-model-segment-mix.webp) *Axon Enterprise revenue by region as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.* ## What the Segment Figures Do Not Show The rows above add up to 100% of Axon Enterprise's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin. ## Where These Numbers Come From Every figure on this page is a value Axon Enterprise reported in the segment note and revenue disclosures of its Form 10-K filed February 25, 2026 (accession 0001628280-26-011360), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading. Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What are Axon Enterprise's main regions? In its fiscal 2025 Form 10-K, Axon Enterprise reports revenue for United States and Outside the United States. ### Which part of Axon Enterprise brings in the most revenue? United States, with $2.3 billion of revenue in fiscal 2025, or 83% of the total. ### How much of Axon Enterprise's revenue comes from outside the United States? 17% in fiscal 2025, by the geographic breakdown Axon Enterprise reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies. ## References - [SEC EDGAR: AXON ENTERPRISE, INC. Form 10-K filed February 25, 2026](https://www.sec.gov/Archives/edgar/data/1069183/000162828026011360/axon-20251231.htm) - [SEC EDGAR: AXON ENTERPRISE, INC. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1069183&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) - [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets) ## Related Pages - [Axon Enterprise company dossier](https://www.getswoopr.com/stocks/companies/axon-enterprise/) - [Axon Enterprise financial metrics](https://www.getswoopr.com/stocks/companies/axon-enterprise/metrics/) - [Axon Enterprise financial risk indicators](https://www.getswoopr.com/stocks/companies/axon-enterprise/risks/) - [Axon Enterprise peer comparison](https://www.getswoopr.com/stocks/companies/axon-enterprise/competitors/) - [Axon Enterprise business model and revenue mix](https://www.getswoopr.com/stocks/companies/axon-enterprise/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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