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Side-by-side financial comparison of Axon Enterprise (AXON) and Magnera Corp (MAGN). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $792.0M, roughly 1.0× Magnera Corp). Axon Enterprise runs the higher net margin — 0.3% vs -4.3%, a 4.6% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 12.8%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $-13.0M). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% CAGR vs 31.5%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
AXON vs MAGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $792.0M |
| Net Profit | $2.7M | $-34.0M |
| Gross Margin | 57.9% | 12.2% |
| Operating Margin | -6.3% | 1.8% |
| Net Margin | 0.3% | -4.3% |
| Revenue YoY | 38.9% | 12.8% |
| Net Profit YoY | -98.0% | 43.3% |
| EPS (diluted) | $0.02 | $-0.95 |
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 | $792.0M | ||
| Q3 25 | $710.6M | — | ||
| Q2 25 | $668.5M | $839.0M | ||
| Q1 25 | $603.6M | $824.0M | ||
| Q4 24 | $573.4M | $702.0M | ||
| Q3 24 | $544.3M | $332.1M | ||
| Q2 24 | $504.1M | $556.0M | ||
| Q1 24 | $460.7M | $558.0M |
| Q4 25 | $2.7M | $-34.0M | ||
| Q3 25 | $-2.2M | — | ||
| Q2 25 | $36.1M | $-18.0M | ||
| Q1 25 | $88.0M | $-41.0M | ||
| Q4 24 | $136.0M | $-60.0M | ||
| Q3 24 | $67.0M | $-15.2M | ||
| Q2 24 | $40.8M | $19.0M | ||
| Q1 24 | $133.2M | $14.0M |
| Q4 25 | 57.9% | 12.2% | ||
| Q3 25 | 60.1% | — | ||
| Q2 25 | 60.4% | 10.7% | ||
| Q1 25 | 60.6% | 10.7% | ||
| Q4 24 | 60.5% | 10.1% | ||
| Q3 24 | 60.8% | 10.7% | ||
| Q2 24 | 60.3% | 6.6% | ||
| Q1 24 | 56.4% | 6.2% |
| Q4 25 | -6.3% | 1.8% | ||
| Q3 25 | -0.3% | — | ||
| Q2 25 | -0.2% | 1.5% | ||
| Q1 25 | -1.5% | 0.5% | ||
| Q4 24 | -2.6% | -3.1% | ||
| Q3 24 | 4.4% | 0.9% | ||
| Q2 24 | 6.5% | 3.1% | ||
| Q1 24 | 3.5% | 3.8% |
| Q4 25 | 0.3% | -4.3% | ||
| Q3 25 | -0.3% | — | ||
| Q2 25 | 5.4% | -2.1% | ||
| Q1 25 | 14.6% | -5.0% | ||
| Q4 24 | 23.7% | -8.5% | ||
| Q3 24 | 12.3% | -4.6% | ||
| Q2 24 | 8.1% | 3.4% | ||
| Q1 24 | 28.9% | 2.5% |
| Q4 25 | $0.02 | $-0.95 | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $0.44 | $-0.51 | ||
| Q1 25 | $1.08 | $-1.15 | ||
| Q4 24 | $1.68 | $-1.69 | ||
| Q3 24 | $0.86 | $-0.33 | ||
| Q2 24 | $0.53 | $0.60 | ||
| Q1 24 | $1.73 | $0.44 |
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 | $264.0M |
| Total DebtLower is stronger | $1.8B | $1.9B |
| Stockholders' EquityBook value | $3.2B | $1.0B |
| Total Assets | $7.0B | $3.9B |
| Debt / EquityLower = less leverage | 0.56× | 1.86× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $264.0M | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | $276.0M | ||
| Q1 25 | $2.2B | $282.0M | ||
| Q4 24 | $788.1M | $215.0M | ||
| Q3 24 | $1.0B | $230.0M | ||
| Q2 24 | $968.9M | $33.9M | ||
| Q1 24 | $964.1M | $30.2M |
| Q4 25 | $1.8B | $1.9B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $2.0B | $2.0B | ||
| Q4 24 | $680.3M | $2.0B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $877.4M | ||
| Q1 24 | — | $884.7M |
| Q4 25 | $3.2B | $1.0B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $2.7B | $1.1B | ||
| Q1 25 | $2.6B | $1.1B | ||
| Q4 24 | $2.3B | $1.1B | ||
| Q3 24 | $2.1B | $2.1B | ||
| Q2 24 | $1.9B | $2.4B | ||
| Q1 24 | $1.8B | $2.4B |
| Q4 25 | $7.0B | $3.9B | ||
| Q3 25 | $6.7B | — | ||
| Q2 25 | $6.2B | $4.1B | ||
| Q1 25 | $6.1B | $4.1B | ||
| Q4 24 | $4.5B | $4.0B | ||
| Q3 24 | $4.0B | $2.8B | ||
| Q2 24 | $3.7B | $1.5B | ||
| Q1 24 | $3.6B | $1.5B |
| Q4 25 | 0.56× | 1.86× | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | 1.77× | ||
| Q1 25 | 0.79× | 1.83× | ||
| Q4 24 | 0.29× | 1.80× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.36× |
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 | $2.0M |
| Free Cash FlowOCF − Capex | $155.4M | $-13.0M |
| FCF MarginFCF / Revenue | 19.5% | -1.6% |
| Capex IntensityCapex / Revenue | 7.8% | 1.9% |
| 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 | $2.0M | ||
| Q3 25 | $60.0M | — | ||
| Q2 25 | $-91.7M | $0 | ||
| Q1 25 | $25.8M | $65.0M | ||
| Q4 24 | $250.2M | $-58.0M | ||
| Q3 24 | $91.3M | $12.2M | ||
| Q2 24 | $82.8M | $38.0M | ||
| Q1 24 | $-15.9M | $20.0M |
| Q4 25 | $155.4M | $-13.0M | ||
| Q3 25 | $33.4M | — | ||
| Q2 25 | $-114.7M | — | ||
| Q1 25 | $932.0K | $42.0M | ||
| Q4 24 | $225.4M | $-74.0M | ||
| Q3 24 | $64.8M | $3.6M | ||
| Q2 24 | $71.4M | $23.0M | ||
| Q1 24 | $-32.1M | $12.5M |
| Q4 25 | 19.5% | -1.6% | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | -17.2% | — | ||
| Q1 25 | 0.2% | 5.1% | ||
| Q4 24 | 39.3% | -10.5% | ||
| Q3 24 | 11.9% | 1.1% | ||
| Q2 24 | 14.2% | 4.1% | ||
| Q1 24 | -7.0% | 2.2% |
| Q4 25 | 7.8% | 1.9% | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 3.4% | 1.5% | ||
| Q1 25 | 4.1% | 2.8% | ||
| Q4 24 | 4.3% | 2.3% | ||
| Q3 24 | 4.9% | 2.6% | ||
| Q2 24 | 2.2% | 2.7% | ||
| Q1 24 | 3.5% | 1.3% |
| 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× | 2.00× | ||
| Q1 24 | -0.12× | 1.43× |
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% |
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
