Integrated public safety platform
Axon Enterprise, Inc.
Axon Enterprise sells connected devices such as TASER energy weapons, body cameras and drones, along with digital evidence management and real-time operations software, to government and private-sector customers. It spends on hardware components and cloud infrastructure and has used acquisitions to expand its video, sensor and counter-drone capabilities.
Business categories Public Safety & Mission Systems · Industrial Infrastructure & Heavy Industry · primary
AXON Updated Sep 23, 2026 6 AI consumers· 4 recurring
Per the valuechain.wiki graph, Axon Enterprise, Inc. is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 33 companies within two hops; the links are backed by 9 dated sources, 3 of them primary filings (as of 2026-09-23).
Financials & Segments
- Total revenue · US$2.779536 billion in total revenue for FY2025 (SEC XBRL)
- Segments · Connected Devices · Software and Services
Revenue from
- U.S. Department of Homeland Security (DHS) and U.S. Customs and Border Protection (CBP) High confidence· Contract value $370M · 2023-06-13 to 2028-06-12 · Ceiling value of the DHS single-award IDIQ for incident-driven video recording systems
The U.S. Department of Homeland Security procures Axon body-worn cameras, video-management software and cloud storage through a single-award IDIQ administered by CBP. The contract awarded in June 2023 has a US$370 million ceiling through June 2028; the ceiling is not guaranteed revenue.Confirms EN U.S. Department of Homeland Security Published Jul 1, 2023: Incident Driven Video Recording System (IDVRS)Confirms EN Federal Compass Published Jun 13, 2023: DHS SSV, IDIQ, Body-Worn Cameras/Hardware and Software Contract 70B03C23D00000006 - Royal Canadian Mounted Police (RCMP) High confidence· Contract value C$155M · contract CW2340427 amended · Amended total value of the RCMP body-worn camera and digital evidence management service contract
The Royal Canadian Mounted Police contracted for Axon Body 4 cameras and Axon Evidence for more than 10,000 frontline officers nationwide. CanadaBuys reports an amended total value of C$154,543,384 for contract CW2340427.Mentions KO The Korea Economic Daily Published Jun 5, 2025: Axon Emerges as a Public-Safety AI PlatformMentions KO Kiwoom Securities Research Center Published Feb 11, 2025: Axon Enterprise: Searching for the Next PalantirConfirms EN Royal Canadian Mounted Police Published Nov 14, 2024: RCMP Begins National Deployment of Body-Worn CamerasConfirms EN Axon Investor Relations Published Nov 14, 2024: Axon Is Awarded a Federal Government Contract to Supply the Royal Canadian Mounted Police with Body-Worn CamerasConfirms EN CanadaBuys Published Jun 27, 2024: Body Worn Cameras and DEMS Service - Contract History
Pays to
- Microsoft Medium confidence
Axon uses Microsoft Azure as one of the primary public-cloud providers supporting Axon Cloud. It does not disclose provider-specific spending or contract terms.Confirms EN Axon Published Jun 2, 2026: What's Changing in Axon Cloud in 2026, And What's Staying the Same - Amazon Medium confidence
Axon uses Amazon AWS as one of the primary public-cloud providers supporting Axon Cloud. It does not disclose provider-specific spending or contract terms.Confirms EN Axon Published Jun 2, 2026: What's Changing in Axon Cloud in 2026, And What's Staying the Same
Investments
- Dedrone High confidence· Amount $391M · acquisition completed 2024-10-01 · Incremental consideration for the acquisition of the remaining 79.8% interest in Dedrone
Axon acquired the remaining 79.8% of Dedrone in October 2024, adding drone detection and response capabilities. Incremental consideration for the remaining interest was approximately US$391.1 million.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Axon Enterprise, Inc. | node | +28.1 | +5.7 | +55.7 | +130.1 | -4.4 | -9.2 |
| Microsoft | benef1 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
| Seagate Technology | benef2 | +87.5 | -51.4 | +69.1 | +4.1 | +225.3 | +209.1 |
| AMD | benef2 | +56.9 | -55 | +127.6 | -18.1 | +77.3 | +183.9 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Intel | benef2 | +6.1 | -46.6 | +94.6 | -59.6 | +84 | +159.6 |
| Western Digital | benef2 | +17.7 | -51.6 | +66 | +13.9 | +283.7 | +130.9 |
| Astera Labs | benef2 | · | · | · | · | +25.6 | +105.7 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +92.3 |
| Vertiv | benef2 | +33.8 | -45.3 | +251.8 | +136.8 | +42.8 | +73.2 |
| GE Vernova | benef2 | · | · | · | · | +99 | +54 |
| Occidental Petroleum | benef2 | +67.7 | +119.1 | -4.1 | -15.9 | -14.9 | +48.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| Super Micro | benef2 | +38.8 | +86.8 | +246.2 | +7.2 | -4 | +43 |
| Caterpillar | benef2 | +16 | +18.6 | +25.9 | +24.7 | +60.3 | +40.6 |
| Ciena | benef2 | +45.6 | -33.8 | -11.7 | +88.4 | +175.8 | +37.3 |
| Equinix | benef2 | +20.3 | -21.1 | +25.4 | +19.5 | -16.9 | +37.3 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +36 |
| NVIDIA | benef2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.2 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +21.2 |
| Credo Technology | benef2 | · | · | +46.3 | +245.2 | +114.1 | +18.5 |
| IREN | benef2 | · | -92.3 | +472 | +37.3 | +284.6 | +18.3 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +16.3 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +11.7 |
| Cummins | benef2 | -1.7 | +14.1 | +1.7 | +48.9 | +49.4 | +11 |
| Automatic Data Processing, Inc. | benef2 | +42.6 | -1.3 | -0.2 | +28.4 | -10.2 | +9.6 |
| 3M Company | benef2 | +4.9 | -29.6 | -3.3 | +46.1 | +26.4 | +6.8 |
| Expedia Group, Inc. | benef2 | +36.5 | -51.5 | +73.3 | +22.8 | +53.3 | +5.8 |
| WEC Energy Group | benef2 | +8.7 | -0.5 | -7 | +16.1 | +16 | +3.1 |
| Brookfield Asset Management Ltd. | benef2 | · | · | +45.6 | +39.7 | -0.2 | -9.7 |
| IonQ | benef2 | · | -79.3 | +259.1 | +237.1 | +7.4 | -11.9 |
| Constellation Energy | benef2 | · | · | +37.2 | +92.7 | +58.8 | -15.3 |
| Take-Two Interactive Software, Inc. | benef2 | -14.5 | -41.4 | +54.6 | +14.4 | +39.1 | -16.6 |
YTD as of 2026-09-04 · source: Yahoo Finance
Axon Enterprise, Inc. operates across Integrated public safety platform. It remained weak at -4.4% in 2025 and -9.2% in 2026. The stock (-9.2%) and its supply side (avg +8%) are moving in step. Among connected nodes the furthest ahead is Amazon (+12%) and the furthest behind is Microsoft (+4%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on hardware components and cloud infrastructure and has used acquisitions to expand its video, sensor and counter-drone capabilities.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple