Axon 2024 Revenue Grows 33% to $2.1 Billion - Continued Strong Demand for Axon Body 4 and Axon Fleet 3.

• Axon Cloud & Services revenue grows 44% to $806 million
• Annual recurring revenue grows 37% to $1.0 billion
• Annual net income of $377 million supports non-GAAP net income of $466 million
• Company establishes fiscal year 2025 revenue guidance of $2.55 billion to $2.65 billion, representing approximately 25% annual growth at the midpoint

Axon reports the closing of an evolutionary year defined by innovative product leadership, deep customer collaboration and unwavering commitment to their mission of protecting life. Axon's third consecutive year of 30%+ annual revenue growth demonstrates the companies strong product-market fit and customer expansion. Along with this growth growth, Axon achieved a full-year net income margin of 18.1% and an Adjusted EBITDA margin of 25.0%.

Key operational milestones of 2024 are as follows:

• Surpassed $2 billion in annual revenue and $1 billion in annual recurring revenue
• Annual bookings over $5 billion drove total future contracted bookings to $10.1 billion
• Awarded largest deal in company history, coming from an enterprise customer
• Full-year net income margin of 18.1% drove 25.0% Adjusted EBITDA margin with 60%+ free cash flow conversion
• Surpassed 1 million total software users
• Shipped more than 200,000 TASER devices, 300,000 body cameras and over 9 million cartridges

Axon closed 2024 with record quarterly revenue of $575 million in Q4, up 34% year over year, for the 12th consecutive quarter of 25%+ growth.

TASER revenue of $221 million grew 37% year over year, fueled by the continued scaling of TASER 10 and growing adoption of  VR training solutions.

Sensors & Other revenue of $124 million grew 18% year over year, supported by continued strong demand for Axon Body 4 and Axon Fleet 3.

Axon Cloud & Services accounted for 40% of our total revenue, growing 41% year over year to $230 million as adoption of our premium subscription offerings continued to build.