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Strength in Connected Devices Unit Drives Axon: Can the Momentum Sustain?
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Key Takeaways
Axon Connected Devices revenues jumped 33% in Q1, driven by strong TASER 10 demand.
AXON saw Personal Sensors revenues surge 23% on strong Axon Body 4 adoption.
Platform Solutions sales soared 95% as counter drone and virtual reality demand accelerated.
Axon Enterprise, Inc. (AXON - Free Report) is witnessing solid momentum in its Connected Devices segment. Growing popularity for its next-generation TASER 10 products, counter-drone equipment and virtual reality training services has been augmenting the segment’s results.
The segment’s performance has also been augmented by higher TASER 10 products, whose shipment began in 2023. With upgraded features such as a bi-directional communications facility and a point-of-view camera module option, the company’s advanced body-worn camera, Axon Body 4, is also witnessing strong orders, boosting the segment’s growth.
In first-quarter 2026, revenues from the company’s TASER product line increased 19% year over year, driven by TASER 10, while those from Personal Sensors surged 23%, led by Axon Body 4. Also, revenues from Platform Solutions product line soared 95%, supported by counter-drone, virtual reality and fleet. This boosted the Connected Devices segment’s results, with revenues increasing 33% year over year to $452.8 million.
Growing instances of terrorism and criminal activities, with concerns related to the ever-increasing fraudulent activities, will augur well for Axon’s Connected Devices unit in the quarters ahead.
Segment Performance of AXON's Peers
Teledyne Technologies Incorporated’s (TDY - Free Report) Digital Imaging segment’s first-quarter 2026 revenues increased 7.9% year over year to $816.9 million. The jump was due to higher sales of infrared imaging detectors, components and subsystems, as well as higher surveillance and unmanned air systems. Teledyne generated 52.4% of its total revenues from this segment in the quarter.
Woodward, Inc.’s (WWD - Free Report) Industrial business segment reported net sales of $387 million in the second quarter of fiscal 2026, up 20% year over year. Woodward generated 35.5% of its total sales from this segment in the quarter. The increase in revenues for Woodward’s segment is primarily attributable to strength across power generation, transportation and oil & gas markets.
AXON’s Price Performance, Valuation and Estimates
Shares of Axon have lost 5.7% in the past three months compared with the industry’s decline of 4.4%.
Image Source: Zacks Investment Research
From a valuation standpoint, AXON is trading at a forward price-to-earnings ratio of 43.58X, below the industry’s average of 45.36X. Axon carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AXON’s 2026 earnings has decreased 0.4% over the past 60 days.
View the Zacks #1 Rank List
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Strength in Connected Devices Unit Drives Axon: Can the Momentum Sustain?
Key Takeaways
Axon Enterprise, Inc. (AXON - Free Report) is witnessing solid momentum in its Connected Devices segment. Growing popularity for its next-generation TASER 10 products, counter-drone equipment and virtual reality training services has been augmenting the segment’s results.
The segment’s performance has also been augmented by higher TASER 10 products, whose shipment began in 2023. With upgraded features such as a bi-directional communications facility and a point-of-view camera module option, the company’s advanced body-worn camera, Axon Body 4, is also witnessing strong orders, boosting the segment’s growth.
In first-quarter 2026, revenues from the company’s TASER product line increased 19% year over year, driven by TASER 10, while those from Personal Sensors surged 23%, led by Axon Body 4. Also, revenues from Platform Solutions product line soared 95%, supported by counter-drone, virtual reality and fleet. This boosted the Connected Devices segment’s results, with revenues increasing 33% year over year to $452.8 million.
Growing instances of terrorism and criminal activities, with concerns related to the ever-increasing fraudulent activities, will augur well for Axon’s Connected Devices unit in the quarters ahead.
Segment Performance of AXON's Peers
Teledyne Technologies Incorporated’s (TDY - Free Report) Digital Imaging segment’s first-quarter 2026 revenues increased 7.9% year over year to $816.9 million. The jump was due to higher sales of infrared imaging detectors, components and subsystems, as well as higher surveillance and unmanned air systems. Teledyne generated 52.4% of its total revenues from this segment in the quarter.
Woodward, Inc.’s (WWD - Free Report) Industrial business segment reported net sales of $387 million in the second quarter of fiscal 2026, up 20% year over year. Woodward generated 35.5% of its total sales from this segment in the quarter. The increase in revenues for Woodward’s segment is primarily attributable to strength across power generation, transportation and oil & gas markets.
AXON’s Price Performance, Valuation and Estimates
Shares of Axon have lost 5.7% in the past three months compared with the industry’s decline of 4.4%.
Image Source: Zacks Investment Research
From a valuation standpoint, AXON is trading at a forward price-to-earnings ratio of 43.58X, below the industry’s average of 45.36X. Axon carries a Value Score of F.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for AXON’s 2026 earnings has decreased 0.4% over the past 60 days.
Image Source: Zacks Investment Research
The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.