Short answer
Zebra Technologies (ZBRA) filed its fiscal 2025 10-K annual report with the SEC on Feb 12, 2026. It reported revenue of $5.4B (+8.3% year over year) and net income of $419M.
- Top risk flagged: Regulatory risk from compliance with EU Artificial Intelligence Act (EU) 2024/1689 imposing costly AI system obligations
FY2025 key financial metrics · XBRL
- Revenue
- $5.4B
- +8.3% YoY
- Net income
- $419M
- −20.6% YoY
- Operating margin
- 13.0%
- −1.9 pp YoY
- Gross margin
- 48.1%
- −0.4 pp YoY
- EPS (diluted)
- $8.18
- −19.6% YoY
- ROE
- 11.7%
- −3.0 pp YoY
- Operating cash flow
- $917M
- −9.5% YoY
Source: XBRL data from the Zebra Technologies (ZBRA) FY2025 10-K on SEC EDGAR. USD.
Zebra Technologies FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Technologies for barcode printing, mobile computing, data capture, and related software/services
- New segment structure effective Q4 2025, integrating Elo Holdings, Inc. acquisition expanding self-service and consumer-facing automation solutions
- Strategic expansion into self-service and consumer-facing workflows via $1.303 billion acquisition of Elo Holdings, diversifying product portfolio
- Net sales grew to $5.396 billion in 2025 from $4.981 billion in 2024; tangible products $4.418 billion, services/software $978 million
- Deferred revenue increased to $842 million in 2025 vs $757 million in 2024 indicating growing contract-based recurring revenue streams
Management Discussion & Analysis
- Segment realignment: former EVM and AIT changed to Connected Frontline (CF) and Asset Visibility and Automation (AVA)
- CF and AVA segment operating income excludes share-based compensation expense starting Q4 2025
Risk Factors
- Regulatory risk from compliance with EU Artificial Intelligence Act (EU) 2024/1689 imposing costly AI system obligations
- Geopolitical exposure to Russia-Ukraine war, suspension of operations in Russia; $1.3B Elo acquisition representing ~9% of market cap
- Operational risk from supply chain dependence on non-U.S. contract manufacturers, many with Chinese operations
- Competitive threat from faster tech innovation and established local competitors in new markets impacting market share
- Financial risk from $1.3B goodwill and intangible assets on Elo acquisition subject to impairment if expected synergies fail
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.