AXON ENTERPRISE, INC. Goodwill & Intangibles Disclosure
| TASER | Software and Sensors | Connected Devices | Software and Services | Total | |||||||||||||||||||||||||
| Balance at December 31, 2023 | $ | 2,984 | $ | 54,961 | $ | — | $ | — | $ | 57,945 | |||||||||||||||||||
| Goodwill acquired | — | 701,695 | — | — | 701,695 | ||||||||||||||||||||||||
| Purchase accounting adjustments | — | (479) | — | — | (479) | ||||||||||||||||||||||||
| Foreign currency translation adjustments | (131) | (2,192) | — | — | (2,323) | ||||||||||||||||||||||||
| Balance at December 31, 2024 | 2,853 | 753,985 | — | — | 756,838 | ||||||||||||||||||||||||
Reallocation of goodwill from Segment Realignment (1) | (2,853) | (753,985) | 46,674 | 710,164 | — | ||||||||||||||||||||||||
| Goodwill acquired | — | — | 4,733 | 612,295 | 617,028 | ||||||||||||||||||||||||
| Purchase accounting adjustments | — | — | (446) | (7,082) | (7,528) | ||||||||||||||||||||||||
| Foreign currency translation adjustments | — | — | 288 | 3,563 | 3,851 | ||||||||||||||||||||||||
| Balance at December 31, 2025 | $ | — | $ | — | $ | 51,249 | $ | 1,318,940 | $ | 1,370,189 | |||||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||
| Useful Life | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||||||||||||||||||
| Amortizable (definite-lived) intangible assets: | |||||||||||||||||||||||||||||||||||||||||
| Developed technology | 3 ‑ 8 years | $ | 183,122 | $ | (44,399) | $ | 138,723 | $ | 118,322 | $ | (21,337) | $ | 96,985 | ||||||||||||||||||||||||||||
| Customer relationships | 5 ‑ 10 years | 41,329 | (8,960) | 32,369 | 33,223 | (4,716) | 28,507 | ||||||||||||||||||||||||||||||||||
| Issued trademarks | 3 ‑ 23 years | 9,900 | (3,856) | 6,044 | 6,706 | (1,784) | 4,922 | ||||||||||||||||||||||||||||||||||
| Issued patents | 8 ‑ 26 years | 3,017 | (1,602) | 1,415 | 2,931 | (1,470) | 1,461 | ||||||||||||||||||||||||||||||||||
| Domain names | 5 ‑ 10 years | 3,043 | (2,738) | 305 | 3,043 | (2,433) | 610 | ||||||||||||||||||||||||||||||||||
| Total amortizable | 240,411 | (61,555) | 178,856 | 164,225 | (31,740) | 132,485 | |||||||||||||||||||||||||||||||||||
| Non-amortizable (indefinite-lived) intangible assets: | |||||||||||||||||||||||||||||||||||||||||
In-process research and development (1) | 16,600 | — | 16,600 | 41,000 | — | 41,000 | |||||||||||||||||||||||||||||||||||
| Trademarks | 1,068 | — | 1,068 | 1,068 | — | 1,068 | |||||||||||||||||||||||||||||||||||
| Patents and trademarks pending | 448 | — | 448 | 604 | — | 604 | |||||||||||||||||||||||||||||||||||
| Total non-amortizable | 18,116 | — | 18,116 | 42,672 | — | 42,672 | |||||||||||||||||||||||||||||||||||
| Total intangible assets | $ | 258,527 | $ | (61,555) | $ | 196,972 | $ | 206,897 | $ | (31,740) | $ | 175,157 | |||||||||||||||||||||||||||||
| 2026 | $ | 39,510 | |||
| 2027 | 38,278 | ||||
| 2028 | 36,046 | ||||
| 2029 | 33,698 | ||||
| 2030 | 22,181 | ||||
| Thereafter | 9,143 | ||||
| Total | $ | 178,856 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 6, 2017 | |
| 2015 | Mar 7, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.