Directed Inquiry
Question: Investigate Axon Enterprise: Search SEC EDGAR for "Axon Enterprise 10-K federal government revenue". Annual reports typically break down revenue by customer type; federal government revenue disclosure would contradict the inference about state/local focus. Report any findings as factual claims with dates and evidence.
Date: 2026-04-08
Research Findings
Investigation of Axon Enterprise's SEC filings reveals that while the company explicitly identifies the U.S. federal government as one of four key customer funding categories, it does not disclose specific federal revenue percentages in its 10-K filings. The company consistently states that 'no customer represented more than 10% of total net sales' and identifies 'U.S. state and local law enforcement' as its 'largest customer segment.' However, evidence contradicts any inference that Axon focuses exclusively on state/local markets. The company has secured substantial federal contracts including a $223.1 million DEA contract, $13 million CBP contract, and reported $38 million in federal bookings in Q3 2020 alone (400% year-over-year growth). Under Richard Coleman's leadership, Axon Federal expanded 30-fold over five years, with goals to exceed $1 billion in federal revenue. The company achieved FedRAMP High certification specifically to serve federal agencies, and its Evidence.com platform became standardized across multiple federal law enforcement agencies. While precise federal revenue percentages remain undisclosed in SEC filings, the documented contract awards and dedicated federal business unit demonstrate significant federal government revenue that contradicts any characterization of Axon as solely state/local focused.
Data Collected
- Entities created: Richard Coleman II, Jeffrey C. Kunins, Joshua M. Isner, Jim Zito, Anne Milgram, Pam Petersen, MissionRT, US Forest Service, Bureau of Alcohol, Tobacco, Firearms & Explosives (ATF), US Customs and Border Protection (CBP), Executive Office for United States Attorneys
- Facts recorded: 9
- Connections mapped: 5
- Web sources consulted: 40
Sources
- Axon IR - SEC Filings
- Axon Enterprise, Inc.
- axon-20241231
- SEC.gov | Home
- 2/25/2025
- Sec
- Document
- axon-20250416
- axon-20250331
- Form 10-K
- Axon Enterprise, Inc. (AXON) Stock Price, Market Cap, Segmented Revenue & Earnings - Datainsightsmarket.com
- Tracking Axon Enterprise: Revenue, Government Contracts, and Market Potential - TenderAlpha Blog
- Axon Enterprise, Inc.
- axon-20241231
- Axon Reports Record Q1 2019 Revenue
- Axon Enterprise: Building the Future of Public Safety
- Axon 2023 Revenue Grows 31% to $1.56 Billion - Feb 27, 2024
- file: axon-20230509xex99d1.htm
- Axon 2022 Revenue Grows 38% to $1.2 Billion - Feb 28, 2023
- Axon reports Q1 2023 revenue of $343 million, up 34% YOY, raises outlook - May 9, 2023
- Axon Enterprise to Get Sole-Source Contract From DEA for Body Cams, Evidence.com Access | Nasdaq
- Axon Enterprise to Get Sole-Source Contract From DEA for Body Cams, Evidence.com Access @themotleyfool #stocks $AXON
- Axon Receives $223M DEA Contract for Wearable Camera, Evidence Management Systems - GovCon Wire
- An Analyst Sees 23% Upside for Axon Enterprise in New Government Contracts | Nasdaq
- How Can Axon Enterprise’s Contract with the DEA Take the Company to the Next Level - TenderAlpha Blog
- Drug Enforcement Administration - GovCon Wire
- DEA Ends Body Camera Program After Trump Executive Order — ProPublica
- Tracking Axon Enterprise: Revenue, Government Contracts, and Market Potential - TenderAlpha Blog
- Axon Body Worn Camera Solution
- Drug Enforcement Administration
- Richard Coleman - Titan 100
- Richard Coleman Promoted to Axon Federal President – GovCon Wire
- Richard Coleman - Axon | LinkedIn
- Axon Wins Contract to Deliver Law Enforcement Technologies to CBP; Richard Coleman Quoted
- ATF Selects Axon for DoJ Pilot Program to Support Federal Joint Task Forces with New Digital Services; Richard Coleman Quoted
- Richard Coleman, Axon Enterprise Inc: Profile and Biography - Bloomberg Markets
- Axon Enterprise, Inc. (AXON) Stock Price, Market Cap, Segmented Revenue & Earnings - Archivemarketresearch.com
- Axon 2022 Revenue Grows 38% to $1.2 Billion - Feb 28, 2023
- BreakLine - Richard Coleman | Creating Technology to Build Transparency, Trust, and a Fair Justice System
- Richard Coleman – Arizona Community Foundation