Axon Enterprise — Nov 7, 2024 release

IR@axon.com Axon reports Q3 2024 revenue of $544 million, up 32% year over year, raises outlook • Axon Cloud & Services revenue grows 36% to $203 million • Annual recurring revenue grows 36% to $885 million • Net income of $67 million supports non-GAAP net income of $113 million and Adjusted EBITDA of $145 million • Raises full year revenue outlook to approximately $2.07 billion, over 32% annual growth; expects full year Adjusted EBITDA margin of approximately 24.6% Fellow shareholders, Axon is proud to report strong third quarter results and raise our outlook for the remainder of the year once again. Robust demand for our products and services remains driven by our innovative product leadership and deep customer relationships. We delivered over 30% annual revenue growth in each of the first three quarters of 2024, marking our 11th consecutive quarter of growth above 25%, achieved third quarter net income margin of 12.3%, and Adjusted EBITDA margin of 26.7% — our highest in over three years. TASER revenue of $222 million grew 36% year over year, driven by demand for TASER 10 and associated cartridges and services. Axon Cloud & Services revenue of $203 million, grew 36% year over year. Strength in Axon Cloud & Services was driven by new customer adoption of Axon Evidence and continued expansion with our existing customers, supporting increased net revenue retention of 123%. Sensors & Other revenue of $120 million increased 18% year over year, driven by record demand for Axon Body cameras, with more than 100,000 units shipped in the quarter. Axon’s third quarter results demonstrate strong product-market fit and support our increased outlook. We