Why Axon Enterprise Fell Even As Sales Rose

If you backed Axon Enterprise for its AI, drone and public safety story, the payoff over this specific year has been harsh. Investors who held Axon Enterprise over the past year are down 43.3%, including dividends. That outcome sits uncomfortably beside bullish expectations for rapid SaaS adoption, premium bundles and high P/E assumptions. If you bought on those forecasts in October 2025, what exactly did that original case fail to account for? A Narrative on Simply Wall St is one investor's...