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Side-by-side financial comparison of Axon Enterprise (AXON) and SCANSOURCE, INC. (SCSC). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $766.5M, roughly 1.0× SCANSOURCE, INC.). SCANSOURCE, INC. runs the higher net margin — 2.2% vs 0.3%, a 1.8% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 2.5%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $28.9M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 0.9%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
ScanSource, Inc. is a leading global specialty technology distributor offering a broad portfolio of solutions including point-of-sale systems, barcode scanning tools, cybersecurity products, cloud services and communication solutions. It primarily serves value-added resellers, managed service providers and enterprise clients across North America, Latin America and Europe, covering retail, healthcare, industrial and public sector core segments.
AXON vs SCSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $766.5M |
| Net Profit | $2.7M | $16.5M |
| Gross Margin | 57.9% | 13.4% |
| Operating Margin | -6.3% | 2.3% |
| Net Margin | 0.3% | 2.2% |
| Revenue YoY | 38.9% | 2.5% |
| Net Profit YoY | -98.0% | -3.3% |
| EPS (diluted) | $0.02 | $0.75 |
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 | $766.5M | ||
| Q3 25 | $710.6M | $739.6M | ||
| Q2 25 | $668.5M | $812.9M | ||
| Q1 25 | $603.6M | $704.8M | ||
| Q4 24 | $573.4M | $747.5M | ||
| Q3 24 | $544.3M | $775.6M | ||
| Q2 24 | $504.1M | $746.1M | ||
| Q1 24 | $460.7M | $752.6M |
| Q4 25 | $2.7M | $16.5M | ||
| Q3 25 | $-2.2M | $19.9M | ||
| Q2 25 | $36.1M | $20.1M | ||
| Q1 25 | $88.0M | $17.4M | ||
| Q4 24 | $136.0M | $17.1M | ||
| Q3 24 | $67.0M | $17.0M | ||
| Q2 24 | $40.8M | $16.1M | ||
| Q1 24 | $133.2M | $12.8M |
| Q4 25 | 57.9% | 13.4% | ||
| Q3 25 | 60.1% | 14.5% | ||
| Q2 25 | 60.4% | 12.9% | ||
| Q1 25 | 60.6% | 14.2% | ||
| Q4 24 | 60.5% | 13.6% | ||
| Q3 24 | 60.8% | 13.1% | ||
| Q2 24 | 60.3% | 13.0% | ||
| Q1 24 | 56.4% | 12.6% |
| Q4 25 | -6.3% | 2.3% | ||
| Q3 25 | -0.3% | 3.5% | ||
| Q2 25 | -0.2% | 3.3% | ||
| Q1 25 | -1.5% | 3.2% | ||
| Q4 24 | -2.6% | 2.5% | ||
| Q3 24 | 4.4% | 2.3% | ||
| Q2 24 | 6.5% | 2.9% | ||
| Q1 24 | 3.5% | 2.3% |
| Q4 25 | 0.3% | 2.2% | ||
| Q3 25 | -0.3% | 2.7% | ||
| Q2 25 | 5.4% | 2.5% | ||
| Q1 25 | 14.6% | 2.5% | ||
| Q4 24 | 23.7% | 2.3% | ||
| Q3 24 | 12.3% | 2.2% | ||
| Q2 24 | 8.1% | 2.2% | ||
| Q1 24 | 28.9% | 1.7% |
| Q4 25 | $0.02 | $0.75 | ||
| Q3 25 | $-0.03 | $0.89 | ||
| Q2 25 | $0.44 | $0.87 | ||
| Q1 25 | $1.08 | $0.74 | ||
| Q4 24 | $1.68 | $0.70 | ||
| Q3 24 | $0.86 | $0.69 | ||
| Q2 24 | $0.53 | $0.66 | ||
| Q1 24 | $1.73 | $0.50 |
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 | $83.5M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $910.9M |
| Total Assets | $7.0B | $1.7B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $83.5M | ||
| Q3 25 | $2.4B | $124.9M | ||
| Q2 25 | $2.1B | $126.2M | ||
| Q1 25 | $2.2B | $146.3M | ||
| Q4 24 | $788.1M | $110.5M | ||
| Q3 24 | $1.0B | $145.0M | ||
| Q2 24 | $968.9M | $185.5M | ||
| Q1 24 | $964.1M | $159.1M |
| 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 | $910.9M | ||
| Q3 25 | $3.0B | $914.0M | ||
| Q2 25 | $2.7B | $906.4M | ||
| Q1 25 | $2.6B | $901.7M | ||
| Q4 24 | $2.3B | $900.7M | ||
| Q3 24 | $2.1B | $920.9M | ||
| Q2 24 | $1.9B | $924.3M | ||
| Q1 24 | $1.8B | $944.1M |
| Q4 25 | $7.0B | $1.7B | ||
| Q3 25 | $6.7B | $1.7B | ||
| Q2 25 | $6.2B | $1.8B | ||
| Q1 25 | $6.1B | $1.7B | ||
| Q4 24 | $4.5B | $1.7B | ||
| Q3 24 | $4.0B | $1.8B | ||
| Q2 24 | $3.7B | $1.8B | ||
| Q1 24 | $3.6B | $1.8B |
| 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 | $30.8M |
| Free Cash FlowOCF − Capex | $155.4M | $28.9M |
| FCF MarginFCF / Revenue | 19.5% | 3.8% |
| Capex IntensityCapex / Revenue | 7.8% | 0.3% |
| Cash ConversionOCF / Net Profit | 79.14× | 1.87× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $30.8M | ||
| Q3 25 | $60.0M | $23.2M | ||
| Q2 25 | $-91.7M | — | ||
| Q1 25 | $25.8M | $66.1M | ||
| Q4 24 | $250.2M | $-6.2M | ||
| Q3 24 | $91.3M | $44.8M | ||
| Q2 24 | $82.8M | — | ||
| Q1 24 | $-15.9M | $160.2M |
| Q4 25 | $155.4M | $28.9M | ||
| Q3 25 | $33.4M | $20.8M | ||
| Q2 25 | $-114.7M | — | ||
| Q1 25 | $932.0K | $64.6M | ||
| Q4 24 | $225.4M | $-8.2M | ||
| Q3 24 | $64.8M | $42.5M | ||
| Q2 24 | $71.4M | — | ||
| Q1 24 | $-32.1M | $157.7M |
| Q4 25 | 19.5% | 3.8% | ||
| Q3 25 | 4.7% | 2.8% | ||
| Q2 25 | -17.2% | — | ||
| Q1 25 | 0.2% | 9.2% | ||
| Q4 24 | 39.3% | -1.1% | ||
| Q3 24 | 11.9% | 5.5% | ||
| Q2 24 | 14.2% | — | ||
| Q1 24 | -7.0% | 21.0% |
| Q4 25 | 7.8% | 0.3% | ||
| Q3 25 | 3.7% | 0.3% | ||
| Q2 25 | 3.4% | 0.3% | ||
| Q1 25 | 4.1% | 0.2% | ||
| Q4 24 | 4.3% | 0.3% | ||
| Q3 24 | 4.9% | 0.3% | ||
| Q2 24 | 2.2% | 0.2% | ||
| Q1 24 | 3.5% | 0.3% |
| Q4 25 | 79.14× | 1.87× | ||
| Q3 25 | — | 1.17× | ||
| Q2 25 | -2.54× | — | ||
| Q1 25 | 0.29× | 3.79× | ||
| Q4 24 | 1.84× | -0.36× | ||
| Q3 24 | 1.36× | 2.64× | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
