Zebra Technologies (ZBRA) Q3 2025 10-Q Quarterly Report

Filed: Oct 28, 2025Period ending Sep 27, 2025

Industrials

General Industrial Machinery & EquipmentSEC EDGAR

Zebra Technologies (ZBRA) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 28, 2025 for the fiscal period ending Sep 27, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Zebra Technologies Q3 2025 10-Q Analysis

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

Zebra Technologies Q3 2025 Quarterly Financials
XBRL

Revenue

$1.3B

▲ +5.2% YoY▲ +2.1% QoQ

Net Income

$101M

▼ -26.3% YoY▼ -9.8% QoQ

Net Margin

7.7%

▼ -326bp YoY▼ -101bp QoQ

Source: XBRL data from Zebra Technologies Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

Get deeper insights on Zebra Technologies

Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.