Short answer
Zebra Technologies (ZBRA) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 27, 2025. Quarterly revenue was $1.3B (up 5.2% year over year) with net income of $101M.
Q3 2025 key financials · XBRL
- Revenue
- $1.3B
- +5.2% YoY · +2.1% QoQ
- Net income
- $101M
- −26.3% YoY · −9.8% QoQ
- Operating margin
- 13.9%
- Gross margin
- 48.0%
- EPS (diluted)
- $1.97
- −25.4% YoY · −10.0% QoQ
Source: XBRL data from the Zebra Technologies (ZBRA) Q3 2025 10-Q on SEC EDGAR. USD.
Zebra Technologies Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1,320M, up 5.2% YoY ($1,255M prior year Q3); Organic sales growth 4.8% excluding FX and acquisitions
- Operating margin 13.9% ($183M operating income on $1,320M revenue) vs 15.2% ($191M on $1,255M), down 130 bps primarily due to higher operating expenses and lower gross margin (48.0% vs 48.8%)
- Best segment: Asset Intelligence & Tracking (AIT) with sales up 11.0% YoY to $1,335M YTD, operating income up 24.1%, gross margin 50.5% vs 48.5%
- Worst segment: Enterprise Visibility & Mobility (EVM) with sales up 2.4% YoY to $2,586M YTD, operating income down 19%, gross margin 46.7% vs 49.0%
- Cash outflow increased: Operating cash flow down by $147M YoY; invested $121M including acquisitions; repurchased $284M shares YTD ($34M Q3); $1.3B acquisition of Elo funded by cash and credit facilities
- Management highlights continued growth across key regions; tariff impacts mitigated but pressure on margins; tax rate increased to 36.5% Q3 vs 8.1% prior year; outlook reflects integration of Elo and segment restructuring starting Q4
Risk Factors
- New complexity risk from expanded operations and acquisitions triggering increased challenges in supply chain, IT infrastructure, and integration management
- Operational risk intensified with potential government shutdown impacts on import/export clearances and regulatory approvals
- Compliance risk elevated by increased stakeholder social responsibility demands affecting customer, investor, and employee relations
- Market risk from heightened labor cost pressures and potential union organizing efforts impacting near-term costs
- No new financial risk disclosed; liquidity and debt risks unchanged from 2024 10-K
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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