| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 5, 2026 | 5/12 | 1 high, 4 medium flags | 0 | 0 | Call sheet → |
| Q1'26 | May 6, 2026 | 8/12 | 3 medium, 3 low flags | 5 | 0 | Call sheet → |
| Q4'25 | February 25, 2026 | 9/12 | 4 medium, 3 low flags | 5 | 1 | Call sheet → |
| Q3'25 | November 4, 2025 | 8/12 | 4 medium, 4 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q1'26 | Delivered | Inventory positioning for growth Made significant inventory investments as telegraphed |
| Q1'26 | Delivered | New product adoption accelerating Dedrone up 500%, Platform Solutions up 95% |
| Q1'26 | Exceeded | International momentum continuing Now 20% of revenue, up 100%+ YoY with major deal wins |
| Q1'26 | Delivered | AI Era Plan scaling rapidly 140% bookings growth demonstrates strong traction |
| Q1'26 | Pending | Free cash flow conversion improvement $450M target set but Q1 negative due to inventory investment |
| Q1'26 | Pending | 25.5% adjusted EBITDA margin for 2026 Maintained target despite Q1 at 25%, expects back-half leverage |
| Q1'26 | Exceeded | Revenue growth of 27-30% for 2026 Raised to 30-32% based on Q1 momentum and bookings strength |
| Q4'25 | Delivered | Revenue between $750-755M for Q4 Hit $797M, exceeded high end of guidance by $42M |
| Q4'25 | Delivered | AI Era Plan contributing over 10% of state and local bookings Hit ~10% of total bookings with $750M, though penetration still low |
| Q4'25 | Delivered | International cloud momentum continuing First major EU cloud customer went live, $1B+ international bookings achieved |
| Q4'25 | Missed | Q4 to be best federal quarter of the year Federal opportunities pushed to 2026, no mention of Q4 federal performance |
| Q4'25 | Delivered | 25% adjusted EBITDA margin for full year 2025 Hit 25.9% in Q4 and maintained ~25% for full year despite tariffs |
| Q4'25 | Exceeded | Bookings growth in high 30s% YoY for full year 2025 Delivered 40%+ growth with Q4 acceleration to 50%+ per Isner |
| Q3'25 | Pending | ABW Mini launch as enterprise breakthrough Still positioned for next year launch, now wearing them on call as proof of concept |
| Q3'25 | Delivered | Continue hiring, particularly in R&D Brittany confirmed continued hiring acceleration for product roadmap |
| Q3'25 | Delivered | 25% adjusted EBITDA margin for full year Maintained guidance despite tariffs and increased R&D investments |
| Q3'25 | Exceeded | Second half bookings in line with prior year's entire campaign Josh said they have 'line of sight to close out the year even stronger' |
| Q3'25 | Delivered | AI Era Plan fastest booked Axon software product to date Confirmed on pace for 10%+ of US bookings, maintained momentum from Q2 |
| Q3'25 | Delivered | Q3 and Q4 to be very exciting quarters for international business 2 of top 10 deals in Q3 plus 9-figure October deal exceeded expectations |
| Q3'25 | Pending | Bookings growth in the high 30s year-over-year Confirmed 'in excess of 30%' with Q4 expected to be strongest - on track |
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