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Side-by-side financial comparison of Axon Enterprise (AXON) and BXP, Inc. (BXP). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $796.7M, roughly 1.1× Axon Enterprise). BXP, Inc. runs the higher net margin — 15.3% vs 0.3%, a 14.9% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 0.8%). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 1.3%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
BXP Inc., operating as Boston Properties, is a leading U.S. real estate investment trust focused on owning, managing and developing high-quality Class A commercial office properties across major U.S. metro markets, serving diverse corporate, tech and professional service tenants.
AXON vs BXP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $872.1M |
| Net Profit | $2.7M | $133.0M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | — |
| Net Margin | 0.3% | 15.3% |
| Revenue YoY | 38.9% | 0.8% |
| Net Profit YoY | -98.0% | 53.0% |
| EPS (diluted) | $0.02 | $1.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $872.1M | ||
| Q4 25 | $796.7M | $877.1M | ||
| Q3 25 | $710.6M | $871.5M | ||
| Q2 25 | $668.5M | $868.5M | ||
| Q1 25 | $603.6M | $865.2M | ||
| Q4 24 | $573.4M | $858.6M | ||
| Q3 24 | $544.3M | $859.2M | ||
| Q2 24 | $504.1M | $850.5M |
| Q1 26 | — | $133.0M | ||
| Q4 25 | $2.7M | $248.4M | ||
| Q3 25 | $-2.2M | $-121.7M | ||
| Q2 25 | $36.1M | $89.0M | ||
| Q1 25 | $88.0M | $61.2M | ||
| Q4 24 | $136.0M | $-228.9M | ||
| Q3 24 | $67.0M | $83.6M | ||
| Q2 24 | $40.8M | $79.6M |
| Q1 26 | — | — | ||
| Q4 25 | 57.9% | 58.8% | ||
| Q3 25 | 60.1% | 59.3% | ||
| Q2 25 | 60.4% | 59.2% | ||
| Q1 25 | 60.6% | 59.2% | ||
| Q4 24 | 60.5% | 59.7% | ||
| Q3 24 | 60.8% | 59.5% | ||
| Q2 24 | 60.3% | 59.8% |
| Q1 26 | — | — | ||
| Q4 25 | -6.3% | — | ||
| Q3 25 | -0.3% | — | ||
| Q2 25 | -0.2% | — | ||
| Q1 25 | -1.5% | — | ||
| Q4 24 | -2.6% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 6.5% | — |
| Q1 26 | — | 15.3% | ||
| Q4 25 | 0.3% | 28.3% | ||
| Q3 25 | -0.3% | -14.0% | ||
| Q2 25 | 5.4% | 10.2% | ||
| Q1 25 | 14.6% | 7.1% | ||
| Q4 24 | 23.7% | -26.7% | ||
| Q3 24 | 12.3% | 9.7% | ||
| Q2 24 | 8.1% | 9.4% |
| Q1 26 | — | $1.69 | ||
| Q4 25 | $0.02 | $1.56 | ||
| Q3 25 | $-0.03 | $-0.77 | ||
| Q2 25 | $0.44 | $0.56 | ||
| Q1 25 | $1.08 | $0.39 | ||
| Q4 24 | $1.68 | $-1.46 | ||
| Q3 24 | $0.86 | $0.53 | ||
| Q2 24 | $0.53 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $512.8M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $7.7B |
| Total Assets | $7.0B | $25.1B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $512.8M | ||
| Q4 25 | $1.7B | $1.5B | ||
| Q3 25 | $2.4B | $861.1M | ||
| Q2 25 | $2.1B | $447.0M | ||
| Q1 25 | $2.2B | $398.1M | ||
| Q4 24 | $788.1M | $1.3B | ||
| Q3 24 | $1.0B | $1.4B | ||
| Q2 24 | $968.9M | $685.4M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $680.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $7.7B | ||
| Q4 25 | $3.2B | $5.1B | ||
| Q3 25 | $3.0B | $5.0B | ||
| Q2 25 | $2.7B | $5.3B | ||
| Q1 25 | $2.6B | $5.3B | ||
| Q4 24 | $2.3B | $5.4B | ||
| Q3 24 | $2.1B | $5.8B | ||
| Q2 24 | $1.9B | $5.8B |
| Q1 26 | — | $25.1B | ||
| Q4 25 | $7.0B | $26.2B | ||
| Q3 25 | $6.7B | $26.0B | ||
| Q2 25 | $6.2B | $25.6B | ||
| Q1 25 | $6.1B | $25.4B | ||
| Q4 24 | $4.5B | $26.1B | ||
| Q3 24 | $4.0B | $26.4B | ||
| Q2 24 | $3.7B | $25.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $217.2M | — |
| Free Cash FlowOCF − Capex | $155.4M | — |
| FCF MarginFCF / Revenue | 19.5% | — |
| Capex IntensityCapex / Revenue | 7.8% | 1.5% |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $217.2M | $407.8M | ||
| Q3 25 | $60.0M | $274.2M | ||
| Q2 25 | $-91.7M | $353.1M | ||
| Q1 25 | $25.8M | $210.0M | ||
| Q4 24 | $250.2M | $383.7M | ||
| Q3 24 | $91.3M | $286.1M | ||
| Q2 24 | $82.8M | $367.1M |
| Q1 26 | — | — | ||
| Q4 25 | $155.4M | $362.7M | ||
| Q3 25 | $33.4M | $231.6M | ||
| Q2 25 | $-114.7M | $281.5M | ||
| Q1 25 | $932.0K | $152.6M | ||
| Q4 24 | $225.4M | $312.5M | ||
| Q3 24 | $64.8M | $234.5M | ||
| Q2 24 | $71.4M | $332.4M |
| Q1 26 | — | — | ||
| Q4 25 | 19.5% | 41.4% | ||
| Q3 25 | 4.7% | 26.6% | ||
| Q2 25 | -17.2% | 32.4% | ||
| Q1 25 | 0.2% | 17.6% | ||
| Q4 24 | 39.3% | 36.4% | ||
| Q3 24 | 11.9% | 27.3% | ||
| Q2 24 | 14.2% | 39.1% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | 7.8% | 5.1% | ||
| Q3 25 | 3.7% | 4.9% | ||
| Q2 25 | 3.4% | 8.2% | ||
| Q1 25 | 4.1% | 6.6% | ||
| Q4 24 | 4.3% | 8.3% | ||
| Q3 24 | 4.9% | 6.0% | ||
| Q2 24 | 2.2% | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 79.14× | 1.64× | ||
| Q3 25 | — | — | ||
| Q2 25 | -2.54× | 3.97× | ||
| Q1 25 | 0.29× | 3.43× | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | 3.42× | ||
| Q2 24 | 2.03× | 4.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
