Axon reports surprise Q3 loss, stock takes a hit

Axon Enterprise Inc. on Tuesday reported a surprising $2.2 million loss in the third quarter, partly due to tariffs. Its share price plunged.

BY PHINEAS HOGAN/PHOENIX BUSINESS JOURNAL

Nov 8, 2025, 5:00 AM

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Axon Enterprise Inc. on Tuesday reported a surprising $2.2 million loss in the third quarter, partly due to tariffs, and its share price plunged on the news.

The Scottsdale-based company, which makes Tasers and other technology for law enforcement and the military, reported diluted earnings of $1.17 per share according to its Q3 financials released Nov. 4 after the markets had closed. The numbers fell below Wall Street predictions, with estimates collected by Zacks Investment Research projecting diluted earnings at $1.63 per share.

As a result, the price of Axon shares plummeted when the markets opened Wednesday, and were trading at about $580.52 per share in mid-morning, down nearly 18%, after dropping to as low as $560 out of the gate. Axon had been on a hot streak this year, topping out at a 52-week high of more than $880 in August.

The company had strong sales across its product lines and has invested heavily into new products and facilities this year. At the same time, the company’s long-awaited $1.3 billion headquarters campus in Scottsdale has faced legal and political hurdles.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.