Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Axon Enterprise, Inc. (AXON) Halal?

PASS

Axon Enterprise, Inc. · NASDAQ: AXON · Industrials

The short answer

Yes — Axon Enterprise (AXON) passes this Shariah stock screen. The public-safety technology company (TASER conducted energy weapons, body-worn cameras, drones and counter-drone equipment, and the Evidence.com digital evidence platform) has no classic prohibited business lines — though TASER weapons are about 29% of revenue, so investors following scholars who screen weapons should consult one. Interest-bearing debt of $1.75B (senior notes) at June 30, 2026 is about 5.1% of its ~$34.3B market cap (81,235,921 shares × $422.21, Oct 1, 2026), far below the ~33% ceiling. FY2025 interest income of $75.4M is about 2.71% of FY2025 revenue ($2,779.5M), below the 5% non-compliant income ceiling. Zoya covers AXON and reports it Shariah-compliant as of September 2026; no Musaffa or ShariaPortfolio coverage was found — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

Axon Enterprise, Inc. (NASDAQ: AXON, formerly TASER International) sells public-safety technology: TASER conducted energy weapons, body-worn and in-car cameras, platform hardware (fleet video, drones, counter-drone equipment via the 2024 Dedrone acquisition, VR training), and cloud software including the Evidence.com digital evidence management platform, records management and AI transcription tools. The company reports two operating segments, Software and Sensors and TASER. In Q1 2026, TASER devices were about 29% of the $807.3M revenue ($232.9M), with software and services ($354.5M), personal sensors ($108.8M) and platform solutions ($111.2M) making up the rest. None of the disclosed lines are classic prohibited lines (no alcohol, gambling, pork, conventional banking/insurance, tobacco, cannabis or adult entertainment). Note: some scholars apply a weapons screen — TASER weapons are roughly 29% of revenue — so investors following that view should consult a scholar. On the standard AAOIFI-style business screen, Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

At June 30, 2026 Axon's interest-bearing debt was $1.75B — $1.0B of 6.125% senior notes due 2030 plus $750M of 6.25% senior notes due 2033, per the company's September 2026 SEC 424B5 filing, with no revolving credit borrowings outstanding. Against a market cap of about $34.3B — 81,235,921 shares outstanding at the $422.21 closing price on October 1, 2026 — debt ÷ market cap is about 5.10%, far below the ~33% ceiling. After quarter-end (September 21, 2026) Axon issued $1.15B of 0% convertible notes due 2031; even pro forma debt of about $2.9B would be only ~8.5% of market cap, still under the ceiling. Cash and cash equivalents of $597.7M at June 30, 2026 are about 1.7% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Axon discloses interest income as a separate line. For FY2025 (ended December 31, 2025), interest income was $75.4M ($75,431,000) against total revenue of $2,779.5M ($2,779,536,000) — about 2.71% of revenue, below the 5% non-compliant income limit. The more recent half-year is consistent: for H1 2026, investment interest income was $17.4M against revenue of about $1,711.7M (Q1 $807.3M + Q2 $904.4M), about 1.02%. The interest is earned on cash balances and marketable securities, not from lending. On the reported income-statement basis used here, Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Axon Enterprise do?

Axon Enterprise (NASDAQ: AXON, formerly TASER International) builds public-safety technology: TASER conducted energy weapons, body-worn and in-car cameras (Personal Sensors), platform hardware such as fleet video, drones and counter-drone equipment (Dedrone, acquired 2024), and cloud software including the Evidence.com digital evidence platform, records management, and AI transcription tools. In Q1 2026 the company reported revenue of $807.3M: TASER devices were about 29% ($232.9M), with the rest from software and services ($354.5M), personal sensors ($108.8M) and platform solutions ($111.2M). It is headquartered in Scottsdale, Arizona and reports two operating segments, Software and Sensors and TASER. Facts only.

Why does Axon Enterprise pass this Shariah stock screen?

Axon Enterprise passes all three gates of this screen. Gate 1: none of its disclosed lines are classic prohibited lines; TASER weapons are about 29% of revenue (Q1 2026) and some scholars apply a weapons screen, so investors who follow that view should consult a scholar — but on the standard AAOIFI-style screen the business passes. Gate 2: interest-bearing debt of $1.75B (senior notes) at June 30, 2026 is about 5.1% of its ~$34.3B market cap, far below the ~33% ceiling. Gate 3: FY2025 interest income of $75.4M is about 2.71% of FY2025 revenue ($2,779.5M), below the 5% non-compliant income ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is Axon Enterprise's interest-bearing debt ratio?

At June 30, 2026 Axon's interest-bearing debt was $1.75B — $1.0B of 6.125% senior notes due 2030 plus $750M of 6.25% senior notes due 2033, per its September 2026 SEC 424B5 filing (no revolver borrowings outstanding). Against a market capitalization of about $34.3B (81,235,921 shares outstanding at the $422.21 closing price on October 1, 2026), debt ÷ market cap is about 5.1%, far below the ~33% ceiling. Note: after quarter-end, on September 21, 2026, Axon issued $1.15B of 0% convertible notes due 2031 — pro forma debt of about $2.9B would still be only ~8.5% of market cap, under the ceiling. Cash and cash equivalents of $597.7M at June 30, 2026 are about 1.7% of market cap. The financial-structure gate passes.

What is Axon Enterprise's non-compliant income ratio?

Axon discloses interest income as a separate line. For FY2025 (ended December 31, 2025) the company reported interest income of $75.4M ($75,431,000) against total revenue of $2,779.5M ($2,779,536,000) — about 2.71% of revenue, below the 5% non-compliant income limit. The more recent half-year is consistent: for H1 2026, investment interest income was $17.4M against revenue of about $1,711.7M (Q1 $807.3M + Q2 $904.4M), about 1.02%. The interest is earned on cash balances and marketable securities, not from lending. On the reported income-statement basis used here, the income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Axon Enterprise?

Zoya covers Axon Enterprise: zoya.finance/stocks/axon reports that as of September 2026, AXON is Shariah-compliant based on the company's most recent financial reports, citing FY2025 revenue of $2,779,536,000 and interest income of $75,431,000 (2.71%). No coverage of AXON was found on Musaffa or ShariaPortfolio — honestly reported as absent, not invented. This page applies the screen directly from the company's filings: the FY2025 Form 10-K, the Q2 2026 Form 10-Q, and the September 2026 SEC 424B5 prospectus supplement for the convertible notes offering.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).