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Side-by-side financial comparison of Axon Enterprise (AXON) and Virtu Financial, Inc. (VIRT). Click either name above to swap in a different company.
Virtu Financial, Inc. is the larger business by last-quarter revenue ($1.1B vs $796.7M, roughly 1.4× Axon Enterprise). Virtu Financial, Inc. runs the higher net margin — 31.6% vs 0.3%, a 31.3% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 30.7%). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 25.7%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Virtu Financial, Inc. is an American high-frequency trading company. The company went public on the Nasdaq in 2015.
AXON vs VIRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $1.1B |
| Net Profit | $2.7M | $346.6M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 37.4% |
| Net Margin | 0.3% | 31.6% |
| Revenue YoY | 38.9% | 30.7% |
| Net Profit YoY | -98.0% | 82.8% |
| EPS (diluted) | $0.02 | $1.99 |
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 | — | $1.1B | ||
| Q4 25 | $796.7M | $969.9M | ||
| Q3 25 | $710.6M | $824.8M | ||
| Q2 25 | $668.5M | $999.6M | ||
| Q1 25 | $603.6M | $837.9M | ||
| Q4 24 | $573.4M | $834.3M | ||
| Q3 24 | $544.3M | $706.8M | ||
| Q2 24 | $504.1M | $693.0M |
| Q1 26 | — | $346.6M | ||
| Q4 25 | $2.7M | $139.9M | ||
| Q3 25 | $-2.2M | $77.6M | ||
| Q2 25 | $36.1M | $151.2M | ||
| Q1 25 | $88.0M | $99.7M | ||
| Q4 24 | $136.0M | $94.1M | ||
| Q3 24 | $67.0M | $60.0M | ||
| Q2 24 | $40.8M | $66.6M |
| Q1 26 | — | — | ||
| Q4 25 | 57.9% | — | ||
| Q3 25 | 60.1% | — | ||
| Q2 25 | 60.4% | — | ||
| Q1 25 | 60.6% | — | ||
| Q4 24 | 60.5% | — | ||
| Q3 24 | 60.8% | — | ||
| Q2 24 | 60.3% | — |
| Q1 26 | — | 37.4% | ||
| Q4 25 | -6.3% | 35.4% | ||
| Q3 25 | -0.3% | 21.8% | ||
| Q2 25 | -0.2% | 34.7% | ||
| Q1 25 | -1.5% | 26.7% | ||
| Q4 24 | -2.6% | 24.3% | ||
| Q3 24 | 4.4% | 20.8% | ||
| Q2 24 | 6.5% | 22.4% |
| Q1 26 | — | 31.6% | ||
| Q4 25 | 0.3% | 14.4% | ||
| Q3 25 | -0.3% | 9.4% | ||
| Q2 25 | 5.4% | 15.1% | ||
| Q1 25 | 14.6% | 11.9% | ||
| Q4 24 | 23.7% | 11.3% | ||
| Q3 24 | 12.3% | 8.5% | ||
| Q2 24 | 8.1% | 9.6% |
| Q1 26 | — | $1.99 | ||
| Q4 25 | $0.02 | $1.54 | ||
| Q3 25 | $-0.03 | $0.86 | ||
| Q2 25 | $0.44 | $1.65 | ||
| Q1 25 | $1.08 | $1.08 | ||
| Q4 24 | $1.68 | $1.03 | ||
| Q3 24 | $0.86 | $0.64 | ||
| Q2 24 | $0.53 | $0.71 |
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 | $973.2M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $2.2B |
| Total Assets | $7.0B | $25.1B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $973.2M | ||
| Q4 25 | $1.7B | $1.1B | ||
| Q3 25 | $2.4B | $707.9M | ||
| Q2 25 | $2.1B | $752.1M | ||
| Q1 25 | $2.2B | $723.6M | ||
| Q4 24 | $788.1M | $872.5M | ||
| Q3 24 | $1.0B | $701.4M | ||
| Q2 24 | $968.9M | $684.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $2.0B | $2.0B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $2.0B | $1.7B | ||
| Q4 24 | $680.3M | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.7B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $3.2B | $1.6B | ||
| Q3 25 | $3.0B | $1.5B | ||
| Q2 25 | $2.7B | $1.4B | ||
| Q1 25 | $2.6B | $1.3B | ||
| Q4 24 | $2.3B | $1.3B | ||
| Q3 24 | $2.1B | $1.2B | ||
| Q2 24 | $1.9B | $1.2B |
| Q1 26 | — | $25.1B | ||
| Q4 25 | $7.0B | $20.2B | ||
| Q3 25 | $6.7B | $21.3B | ||
| Q2 25 | $6.2B | $19.3B | ||
| Q1 25 | $6.1B | $17.5B | ||
| Q4 24 | $4.5B | $15.4B | ||
| Q3 24 | $4.0B | $14.4B | ||
| Q2 24 | $3.7B | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | 0.56× | 1.29× | ||
| Q3 25 | 0.66× | 1.40× | ||
| Q2 25 | 0.73× | 1.24× | ||
| Q1 25 | 0.79× | 1.33× | ||
| Q4 24 | 0.29× | 1.39× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.41× |
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% | — |
| 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 | $518.4M | ||
| Q3 25 | $60.0M | $-68.7M | ||
| Q2 25 | $-91.7M | $62.8M | ||
| Q1 25 | $25.8M | $15.0M | ||
| Q4 24 | $250.2M | $599.0M | ||
| Q3 24 | $91.3M | $112.1M | ||
| Q2 24 | $82.8M | $490.8M |
| Q1 26 | — | — | ||
| Q4 25 | $155.4M | $495.6M | ||
| Q3 25 | $33.4M | $-76.7M | ||
| Q2 25 | $-114.7M | $57.6M | ||
| Q1 25 | $932.0K | $9.2M | ||
| Q4 24 | $225.4M | $586.6M | ||
| Q3 24 | $64.8M | $106.2M | ||
| Q2 24 | $71.4M | $486.9M |
| Q1 26 | — | — | ||
| Q4 25 | 19.5% | 51.1% | ||
| Q3 25 | 4.7% | -9.3% | ||
| Q2 25 | -17.2% | 5.8% | ||
| Q1 25 | 0.2% | 1.1% | ||
| Q4 24 | 39.3% | 70.3% | ||
| Q3 24 | 11.9% | 15.0% | ||
| Q2 24 | 14.2% | 70.3% |
| Q1 26 | — | — | ||
| Q4 25 | 7.8% | 2.4% | ||
| Q3 25 | 3.7% | 1.0% | ||
| Q2 25 | 3.4% | 0.5% | ||
| Q1 25 | 4.1% | 0.7% | ||
| Q4 24 | 4.3% | 1.5% | ||
| Q3 24 | 4.9% | 0.8% | ||
| Q2 24 | 2.2% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 79.14× | 3.71× | ||
| Q3 25 | — | -0.89× | ||
| Q2 25 | -2.54× | 0.42× | ||
| Q1 25 | 0.29× | 0.15× | ||
| Q4 24 | 1.84× | 6.37× | ||
| Q3 24 | 1.36× | 1.87× | ||
| Q2 24 | 2.03× | 7.37× |
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% |
VIRT
| Trading income, net | $789.1M | 72% |
| Commissions, net and technology services | $186.6M | 17% |
| Other | $119.6M | 11% |
