Home / Restatements / AXON ENTERPRISE, INC.

5/5AXON ENTERPRISE, INC. (AXON): Non-reliance / restatement

Filed 2025-05-07 路 Form 8-K 路 Accession 0001069183-25-000074 large

Market data

Price before filing: $601.7 (2025-05-06 close, split/dividend-adjusted)
Market cap at flag: $46.94B (2025-05-07) 路 Latest: $31.36B (2026-10-16)

What happened next

WindowAXONSPYvs SPY
30 days+31.6%+7.2%+24.4%2025-06-06
90 days+44.1%+12.7%+31.4%2025-08-05
180 days+20.3%+23.0%-2.6%2025-11-03

Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.

Insider trading around this filing

90 days before the flag: 2 insiders sold $5.6M (20 sales)
30 days after: 8 insiders sold $25.4M (41 sales)

DateInsiderTypeSharesPriceValue10b5-1 planSource
2025-03-17Williams Jeri
Director
Sale307$552.72$170KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale875$532.19$466KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale877$533.22$468KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale1,289$534.08$688KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale532$534.87$285KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale62$536.96$33KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale870$537.91$468KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale851$539.38$459KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale911$540.39$492KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale122$541.34$66KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale240$544.38$131KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale360$545.49$196KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale430$546.28$235KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale374$548.04$205KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale275$548.53$151KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale459$549.94$252KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale474$551.02$261KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale339$552.51$187KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale2$553.65$1KyesForm 4
2025-04-21SMITH PATRICK W
CHIEF EXECUTIVE OFFICER, Director
Sale658$555.02$365KyesForm 4
2025-05-07: red flag filed
2025-05-12Cullivan Julie A
Director
Sale657$700.00$460KyesForm 4
2025-05-12Isner Joshua
PRESIDENT
Sale200$667.21$133KnoForm 4
2025-05-12Isner Joshua
PRESIDENT
Sale72$668.14$48KnoForm 4
2025-05-12Isner Joshua
PRESIDENT
Sale371$669.63$248KnoForm 4
2025-05-12Isner Joshua
PRESIDENT
Sale369$670.52$247KnoForm 4

Showing 25 of 61 transactions.

Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-06 to 2025-06-06. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.

Verified excerpt

"The Audit Committee concluded that the opinion of PwC on the Company's consolidated financial statements as of December 31, 2024 and PwC's opinion on the effectiveness of the Company's ICFR as of December 31, 2024, should no longer be relied upon."

Quoted from the filing. Source

What this means

The company says previously issued financial statements should no longer be relied upon (8-K Item 4.02). This is one of the most serious accounting red flags: past reported numbers were wrong and will be restated.

Read the original filing on SEC.gov →

Not investment advice. Automated summary; verify against the filing.

Get the weekly "Red Flags" newsletter

The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.

Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.

Form not showing? Subscribe on beehiiv →

Newsletter delivered by beehiiv. See our privacy policy.