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Side-by-side financial comparison of Axon Enterprise (AXON) and Lineage, Inc. (LINE). Click either name above to swap in a different company.
Lineage, Inc. is the larger business by last-quarter revenue ($1.4B vs $796.7M, roughly 1.7× Axon Enterprise). Axon Enterprise runs the higher net margin — 0.3% vs -7.3%, a 7.6% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 3.1%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $35.0M).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
AXON vs LINE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $1.4B |
| Net Profit | $2.7M | $-100.0M |
| Gross Margin | 57.9% | 32.3% |
| Operating Margin | -6.3% | 2.5% |
| Net Margin | 0.3% | -7.3% |
| Revenue YoY | 38.9% | 3.1% |
| Net Profit YoY | -98.0% | 79.4% |
| EPS (diluted) | $0.02 | $-0.44 |
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.
| Q4 25 | $796.7M | — | ||
| Q3 25 | $710.6M | $1.4B | ||
| Q2 25 | $668.5M | $1.4B | ||
| Q1 25 | $603.6M | $1.3B | ||
| Q4 24 | $573.4M | $1.3B | ||
| Q3 24 | $544.3M | $1.3B | ||
| Q2 24 | $504.1M | $1.3B | ||
| Q1 24 | $460.7M | $1.3B |
| Q4 25 | $2.7M | — | ||
| Q3 25 | $-2.2M | $-100.0M | ||
| Q2 25 | $36.1M | $-6.0M | ||
| Q1 25 | $88.0M | $0 | ||
| Q4 24 | $136.0M | $-71.0M | ||
| Q3 24 | $67.0M | $-485.0M | ||
| Q2 24 | $40.8M | $-68.0M | ||
| Q1 24 | $133.2M | $-40.0M |
| Q4 25 | 57.9% | — | ||
| Q3 25 | 60.1% | 32.3% | ||
| Q2 25 | 60.4% | 31.9% | ||
| Q1 25 | 60.6% | 32.2% | ||
| Q4 24 | 60.5% | 32.3% | ||
| Q3 24 | 60.8% | 32.8% | ||
| Q2 24 | 60.3% | 33.4% | ||
| Q1 24 | 56.4% | 33.4% |
| Q4 25 | -6.3% | — | ||
| Q3 25 | -0.3% | 2.5% | ||
| Q2 25 | -0.2% | 1.7% | ||
| Q1 25 | -1.5% | 4.3% | ||
| Q4 24 | -2.6% | -1.6% | ||
| Q3 24 | 4.4% | -38.6% | ||
| Q2 24 | 6.5% | 5.5% | ||
| Q1 24 | 3.5% | 7.6% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | -0.3% | -7.3% | ||
| Q2 25 | 5.4% | -0.4% | ||
| Q1 25 | 14.6% | — | ||
| Q4 24 | 23.7% | -5.3% | ||
| Q3 24 | 12.3% | -36.3% | ||
| Q2 24 | 8.1% | -5.1% | ||
| Q1 24 | 28.9% | -3.0% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $-0.03 | $-0.44 | ||
| Q2 25 | $0.44 | $-0.03 | ||
| Q1 25 | $1.08 | $0.01 | ||
| Q4 24 | $1.68 | $-0.52 | ||
| Q3 24 | $0.86 | $-2.44 | ||
| Q2 24 | $0.53 | $-0.46 | ||
| Q1 24 | $1.73 | $-0.28 |
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 | — |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $8.4B |
| Total Assets | $7.0B | $19.2B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $788.1M | $173.0M | ||
| Q3 24 | $1.0B | $409.0M | ||
| Q2 24 | $968.9M | $73.0M | ||
| Q1 24 | $964.1M | — |
| 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 24 | — | — |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | $8.4B | ||
| Q2 25 | $2.7B | $8.6B | ||
| Q1 25 | $2.6B | $8.6B | ||
| Q4 24 | $2.3B | $8.6B | ||
| Q3 24 | $2.1B | $9.0B | ||
| Q2 24 | $1.9B | $4.9B | ||
| Q1 24 | $1.8B | $5.6B |
| Q4 25 | $7.0B | — | ||
| Q3 25 | $6.7B | $19.2B | ||
| Q2 25 | $6.2B | $19.4B | ||
| Q1 25 | $6.1B | $18.8B | ||
| Q4 24 | $4.5B | $18.7B | ||
| Q3 24 | $4.0B | $19.3B | ||
| Q2 24 | $3.7B | $18.8B | ||
| Q1 24 | $3.6B | — |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $230.0M |
| Free Cash FlowOCF − Capex | $155.4M | $35.0M |
| FCF MarginFCF / Revenue | 19.5% | 2.5% |
| Capex IntensityCapex / Revenue | 7.8% | 14.2% |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | — | ||
| Q3 25 | $60.0M | $230.0M | ||
| Q2 25 | $-91.7M | $258.0M | ||
| Q1 25 | $25.8M | $139.0M | ||
| Q4 24 | $250.2M | — | ||
| Q3 24 | $91.3M | $186.0M | ||
| Q2 24 | $82.8M | $155.0M | ||
| Q1 24 | $-15.9M | $105.0M |
| Q4 25 | $155.4M | — | ||
| Q3 25 | $33.4M | $35.0M | ||
| Q2 25 | $-114.7M | $95.0M | ||
| Q1 25 | $932.0K | $-12.0M | ||
| Q4 24 | $225.4M | — | ||
| Q3 24 | $64.8M | $33.0M | ||
| Q2 24 | $71.4M | $-31.0M | ||
| Q1 24 | $-32.1M | $-42.0M |
| Q4 25 | 19.5% | — | ||
| Q3 25 | 4.7% | 2.5% | ||
| Q2 25 | -17.2% | 7.0% | ||
| Q1 25 | 0.2% | -0.9% | ||
| Q4 24 | 39.3% | — | ||
| Q3 24 | 11.9% | 2.5% | ||
| Q2 24 | 14.2% | -2.3% | ||
| Q1 24 | -7.0% | -3.2% |
| Q4 25 | 7.8% | — | ||
| Q3 25 | 3.7% | 14.2% | ||
| Q2 25 | 3.4% | 12.1% | ||
| Q1 25 | 4.1% | 11.7% | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 4.9% | 11.5% | ||
| Q2 24 | 2.2% | 13.9% | ||
| Q1 24 | 3.5% | 11.1% |
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -2.54× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | — |
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% |
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
