Zebra Technologies Announces First-Quarter 2026 Results
Key Terms
non-gaap financial
adjusted ebitda financial
free cash flow financial
stock appreciation rights financial
schedule 13g regulatory
beneficial ownership regulatory
Delivers strong first-quarter 2026 performance with broad-based growth across segments and regions
Increases outlook for the full year 2026
First-Quarter Financial Highlights
-
Net sales of
; year-over-year increase of$1,495 million 14.3% -
Net income of
and net income per diluted share of$135 million $2.72 -
Non-GAAP diluted EPS increased year-over-year to
$4.75 -
Adjusted EBITDA increased year-over-year to
$347 million -
Share repurchases of
$300 million
“Our strong first quarter results demonstrate the durability of demand for our innovative technology, with organic growth across our segments and regions, led by strength in our manufacturing end market. Elo Touch also contributed solid profitable growth as we begin to drive synergies," said Bill Burns, Chief Executive Officer of Zebra Technologies. "These results underscore the value Zebra delivers as the foundation for intelligent operations across the frontline, helping customers operate more efficiently and effectively."
"We are building on our track record of value creation for shareholders with
$ in millions, except per share amounts |
|
1Q26 |
|
|
1Q25 |
|
Change |
|
Select reported measures: |
|
|
|
|||||
Net sales |
$ |
1,495 |
|
$ |
1,308 |
|
14.3 |
% |
Gross profit |
|
742 |
|
|
645 |
|
15.0 |
% |
Gross margin |
|
49.6 |
% |
|
49.3 |
% |
30 bps |
|
Net income |
|
135 |
|
|
136 |
|
(0.7 |
%) |
Net income margin |
|
9.0 |
% |
|
10.4 |
% |
(140) bps |
|
Net income per diluted share |
$ |
2.72 |
|
$ |
2.62 |
|
3.8 |
% |
|
|
|
|
|||||
Select Non-GAAP measures: |
|
|
|
|||||
Adjusted net sales |
$ |
1,495 |
|
$ |
1,308 |
|
14.3 |
% |
Organic net sales growth |
|
|
4.3 |
% |
||||
Adjusted gross profit |
|
753 |
|
|
649 |
|
16.0 |
% |
Adjusted gross margin |
|
50.4 |
% |
|
49.6 |
% |
80 bps |
|
Adjusted EBITDA |
|
347 |
|
|
292 |
|
18.8 |
% |
Adjusted EBITDA margin |
|
23.2 |
% |
|
22.3 |
% |
90 bps |
|
Non-GAAP net income |
$ |
235 |
|
$ |
208 |
|
13.0 |
% |
Non-GAAP earnings per diluted share |
$ |
4.75 |
|
$ |
4.02 |
|
18.2 |
% |
Net sales were
First quarter 2026 gross profit was
Operating expenses increased to
Net income for the first quarter of 2026 was
Adjusted EBITDA for the first quarter of 2026 increased to
Balance Sheet and Cash Flow
As of April 4, 2026, the Company had cash and cash equivalents of
For the first three months of 2026, net cash provided by operating activities was
Outlook
Mr. Burns added, "We are seeing continued momentum into the second quarter, supporting our increased outlook for the full year. Zebra's integrated portfolio of solutions is a key differentiator, enabling customers to connect data, assets and workflows to drive visibility and productivity. As e-commerce, automation and Physical AI trends accelerate, we are well positioned to drive profitable growth, build on our market leadership and innovation, and strengthen our financial position to deliver long-term shareholder value."
Second Quarter 2026
The Company expects second quarter sales growth between
Adjusted EBITDA margin for the second quarter is expected to be slightly higher than
Full Year 2026
The Company expects full year sales growth between
Adjusted EBITDA margin for the full year is expected to be approximately
Free Cash Flow for the full year is expected to be greater than
The Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of the most directly comparable forward-looking GAAP financial measure as discussed under the "Forward-Looking Statements" caption below. This would include items that have not yet occurred, are out of the Company’s control and/or cannot be reasonably predicted, and that would impact diluted net earnings per share. For the same reasons, the Company is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.
Conference Call Notification
Investors are invited to listen to a live webcast of Zebra’s conference call regarding the Company’s financial results. The conference call will be held today at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). To view the webcast, visit the investor relations section of the Company’s website at investors.zebra.com.
Who is Zebra Technologies
Zebra (NASDAQ: ZBRA) provides the foundation for intelligent operations with an award-winning portfolio of connected frontline, asset visibility and automation solutions which empower our customers to deploy AI on the frontline. Organizations globally across retail, manufacturing, transportation, logistics, healthcare, and other industries rely on us to deliver outcomes today while driving innovation for what’s next. Together with our partners, we create new ways of working that improve productivity and empower organizations to be better every day. Learn more at www.zebra.com.
Follow Zebra on our Blog, LinkedIn, Facebook, X, Instagram and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, the statements regarding the company’s outlook. Actual results may differ from those expressed or implied in the company’s forward-looking statements. These statements represent estimates only as of the date they were made. Zebra undertakes no obligation, other than as may be required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this release.
These forward-looking statements are based on current expectations, forecasts and assumptions and are subject to the risks and uncertainties inherent in Zebra’s industry, market conditions, general domestic and international economic conditions, and other factors. These factors include customer acceptance of Zebra’s offerings and competitors' offerings, and the potential effects of emerging technologies and changes in customer requirements. The effect of global market conditions, and the availability of credit and capital markets volatility may have adverse effects on Zebra, its suppliers and its customers. In addition, natural disasters, man-made disasters, public health issues (including pandemics), and cybersecurity incidents may have negative effects on Zebra's business and results of operations. Zebra's ability to purchase sufficient materials, parts, and components, and ability to provide services, software and products to meet customer demand could negatively impact Zebra's results of operations and customer relationships. Profits and profitability will be affected by Zebra’s ability to control manufacturing and operating costs. Because of its debt, interest rates and financial market conditions may also have an adverse impact on results. Foreign exchange rates, customs duties and trade policies may have an adverse effect on financial results because of the global nature of Zebra's business. The impacts of changes in foreign and domestic governmental policies, regulations, or laws, as well as the outcome of litigation or tax matters in which Zebra may be involved are other factors that could adversely affect Zebra's business and results of operations. The success of integrating acquisitions could also adversely affect profitability, reported results and the company’s competitive position in its industry. These and other factors could have an adverse effect on Zebra’s sales, gross profit margins and results of operations and increase the volatility of Zebra's financial results. When used in this release and documents referenced, the words “anticipate,” “believe,” “outlook,” and “expect” and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. Descriptions of certain risks, uncertainties and other factors that could adversely affect the Company’s future operations and results can be found in Zebra’s filings with the Securities and Exchange Commission, including the Company’s most recent Form 10-K and Form 10-Q.
Use of Non-GAAP Financial Information
This press release contains certain Non-GAAP financial measures, consisting of “Adjusted EBITDA,” “Adjusted EBITDA margin,” “adjusted gross margin,” “adjusted gross profit,” “adjusted net sales,” “adjusted operating expenses,” “adjusted operating income,” “EBITDA,” “free cash flow,” “non-GAAP diluted earnings per share,” “non-GAAP earnings per share,” “non-GAAP net income,” “organic net sales,” and “organic net sales growth.” Management presents these measures to focus on the on-going operations and believes it is useful to investors because they enable them to perform meaningful comparisons of past and present operating results. The company believes it is useful to present non-GAAP financial measures, which exclude certain significant items, as a means to understand the performance of its ongoing operations and how management views the business. Please see the “Reconciliation of GAAP to Non-GAAP Financial Measures” tables and accompanying disclosures at the end of this press release for more detailed information regarding non-GAAP financial measures herein, including the items reflected in adjusted net earnings calculations. These measures, however, should not be construed as an alternative to any other measure of performance determined in accordance with GAAP.
The company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis (including the information under “Outlook” above) where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred, are out of the company’s control and/or cannot be reasonably predicted, and that would impact diluted net earnings per share, the most directly comparable forward-looking GAAP financial measure. For the same reasons, the company is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.
As a global company, Zebra's operating results reported in
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES |
|||||||
CONSOLIDATED BALANCE SHEETS |
|||||||
(In millions, except per share data) |
|||||||
|
April 4,
|
|
December 31,
|
||||
|
(Unaudited) |
|
|
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
114 |
|
|
$ |
125 |
|
Accounts receivable, net of allowances for doubtful accounts of |
|
733 |
|
|
|
801 |
|
Inventories, net |
|
692 |
|
|
|
729 |
|
Income tax receivable |
|
30 |
|
|
|
31 |
|
Prepaid expenses and other current assets |
|
126 |
|
|
|
110 |
|
Total Current assets |
|
1,695 |
|
|
|
1,796 |
|
Property, plant and equipment, net |
|
350 |
|
|
|
353 |
|
Right-of-use lease assets |
|
170 |
|
|
|
166 |
|
Goodwill |
|
4,709 |
|
|
|
4,727 |
|
Other intangibles, net |
|
765 |
|
|
|
809 |
|
Deferred income taxes |
|
410 |
|
|
|
414 |
|
Other long-term assets |
|
233 |
|
|
|
237 |
|
Total Assets |
$ |
8,332 |
|
|
$ |
8,502 |
|
Liabilities and Stockholders’ Equity |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Current portion of long-term debt |
$ |
264 |
|
|
$ |
141 |
|
Accounts payable |
|
581 |
|
|
|
695 |
|
Accrued liabilities |
|
459 |
|
|
|
558 |
|
Deferred revenue |
|
434 |
|
|
|
446 |
|
Income taxes payable |
|
25 |
|
|
|
12 |
|
Total Current liabilities |
|
1,763 |
|
|
|
1,852 |
|
Long-term debt |
|
2,387 |
|
|
|
2,361 |
|
Long-term lease liabilities |
|
158 |
|
|
|
157 |
|
Deferred income taxes |
|
32 |
|
|
|
32 |
|
Long-term deferred revenue |
|
398 |
|
|
|
396 |
|
Other long-term liabilities |
|
124 |
|
|
|
116 |
|
Total Liabilities |
|
4,862 |
|
|
|
4,914 |
|
Stockholders’ Equity: |
|
|
|
||||
Preferred stock, |
|
— |
|
|
|
— |
|
Class A common stock, |
|
1 |
|
|
|
1 |
|
Additional paid-in capital |
|
866 |
|
|
|
814 |
|
Treasury stock at cost, 23,768,847 and 22,558,911 shares as of April 4, 2026 and December 31, 2025, respectively |
|
(2,787 |
) |
|
|
(2,488 |
) |
Retained earnings |
|
5,414 |
|
|
|
5,279 |
|
Accumulated other comprehensive loss |
|
(24 |
) |
|
|
(18 |
) |
Total Stockholders’ Equity |
|
3,470 |
|
|
|
3,588 |
|
Total Liabilities and Stockholders’ Equity |
$ |
8,332 |
|
|
$ |
8,502 |
|
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES |
|||||||
CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
(In millions, except share data) |
|||||||
(Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
April 4,
|
|
March 29,
|
||||
Net sales: |
|
|
|
||||
Tangible products |
$ |
1,231 |
|
|
$ |
1,062 |
|
Services and software |
|
264 |
|
|
|
246 |
|
Total Net sales |
|
1,495 |
|
|
|
1,308 |
|
Cost of sales: |
|
|
|
||||
Tangible products |
|
623 |
|
|
|
542 |
|
Services and software |
|
130 |
|
|
|
121 |
|
Total Cost of sales |
|
753 |
|
|
|
663 |
|
Gross profit |
|
742 |
|
|
|
645 |
|
Operating expenses: |
|
|
|
||||
Selling and marketing |
|
189 |
|
|
|
161 |
|
Research and development |
|
165 |
|
|
|
151 |
|
General and administrative |
|
127 |
|
|
|
111 |
|
Amortization of intangible assets |
|
37 |
|
|
|
24 |
|
Acquisition and integration costs |
|
1 |
|
|
|
3 |
|
Exit and restructuring costs |
|
8 |
|
|
|
— |
|
Total Operating expenses |
|
527 |
|
|
|
450 |
|
Operating income |
|
215 |
|
|
|
195 |
|
Other (loss) income, net: |
|
|
|
||||
Foreign exchange loss |
|
— |
|
|
|
(5 |
) |
Interest expense, net |
|
(37 |
) |
|
|
(23 |
) |
Other expense, net |
|
(11 |
) |
|
|
(2 |
) |
Total Other expense, net |
|
(48 |
) |
|
|
(30 |
) |
Income before income tax |
|
167 |
|
|
|
165 |
|
Income tax expense |
|
32 |
|
|
|
29 |
|
Net income |
$ |
135 |
|
|
$ |
136 |
|
Basic earnings per share |
$ |
2.74 |
|
|
$ |
2.64 |
|
Diluted earnings per share |
$ |
2.72 |
|
|
$ |
2.62 |
|
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES |
|||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||||||
(In millions) |
|||||||
(Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
April 4,
|
|
March 29,
|
||||
Cash flows from operating activities: |
|
|
|
||||
Net income |
$ |
135 |
|
|
$ |
136 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
56 |
|
|
|
41 |
|
Loss on sale of investments |
|
15 |
|
|
|
— |
|
Share-based compensation |
|
58 |
|
|
|
51 |
|
Deferred income taxes |
|
— |
|
|
|
(23 |
) |
Gain on sale of business |
|
(5 |
) |
|
|
— |
|
Other, net |
|
1 |
|
|
|
1 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable, net |
|
67 |
|
|
|
84 |
|
Inventories, net |
|
34 |
|
|
|
15 |
|
Other assets |
|
(12 |
) |
|
|
3 |
|
Accounts payable |
|
(119 |
) |
|
|
(76 |
) |
Accrued liabilities |
|
(67 |
) |
|
|
(110 |
) |
Deferred revenue |
|
(11 |
) |
|
|
16 |
|
Income taxes |
|
24 |
|
|
|
42 |
|
Other operating activities |
|
— |
|
|
|
(2 |
) |
Net cash provided by operating activities |
|
176 |
|
|
|
178 |
|
Cash flows from investing activities: |
|
|
|
||||
Acquisition of business |
|
— |
|
|
|
(62 |
) |
Proceeds from the sale of business |
|
9 |
|
|
|
— |
|
Purchases of property, plant and equipment |
|
(13 |
) |
|
|
(20 |
) |
Proceeds from sale of long-term investments |
|
1 |
|
|
|
— |
|
Other investing activities |
|
1 |
|
|
|
— |
|
Net cash used in investing activities |
|
(2 |
) |
|
|
(82 |
) |
Cash flows from financing activities: |
|
|
|
||||
Payments of debt |
|
(37 |
) |
|
|
— |
|
Proceeds from issuance of debt |
|
186 |
|
|
|
— |
|
Payments for repurchases of common stock |
|
(300 |
) |
|
|
(125 |
) |
Net payments related to share-based compensation plans |
|
(5 |
) |
|
|
(1 |
) |
Change in unremitted cash collections from servicing factored receivables |
|
(29 |
) |
|
|
2 |
|
Other financing activities |
|
— |
|
|
|
5 |
|
Net cash used in financing activities |
|
(185 |
) |
|
|
(119 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
— |
|
|
|
1 |
|
Net decrease in cash and cash equivalents |
|
(11 |
) |
|
|
(22 |
) |
Cash and cash equivalents at beginning of period |
|
125 |
|
|
|
901 |
|
Cash and cash equivalents at end of period |
$ |
114 |
|
|
$ |
879 |
|
Supplemental disclosures of cash flow information: |
|
|
|
||||
Income taxes paid |
$ |
15 |
|
|
$ |
9 |
|
Interest paid |
$ |
26 |
|
|
$ |
16 |
|
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES |
||||||||
RECONCILIATION OF ORGANIC NET SALES GROWTH |
||||||||
(Unaudited) |
||||||||
|
Three Months Ended |
|||||||
|
April 4, 2026 |
|||||||
|
CF |
|
AVA |
|
Consolidated |
|||
Consolidated Reported GAAP Net sales growth |
20.6 |
% |
|
7.4 |
% |
|
14.3 |
% |
Adjustments: |
|
|
|
|
|
|||
Impact of foreign currency translations (1) |
(2.1 |
)% |
|
(2.2 |
)% |
|
(2.1 |
)% |
Impact of acquisitions (2) |
(14.7 |
)% |
|
(0.4 |
)% |
|
(7.9 |
)% |
Consolidated Organic Net sales growth |
3.8 |
% |
|
4.8 |
% |
|
4.3 |
% |
| (1) |
Operating results reported in |
|
|
||
| (2) | For purposes of computing Organic Net sales growth, amounts attributable to business acquisitions or dispositions are excluded for twelve months following or preceding the respective acquisition or disposition, respectively. |
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES |
|||||||||||||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP GROSS MARGIN AND OPERATING INCOME |
|||||||||||||||||||||||
($ In millions) |
|||||||||||||||||||||||
(Unaudited) |
|||||||||||||||||||||||
|
Three Months Ended |
||||||||||||||||||||||
|
April 4, 2026 |
|
March 29, 2025 |
||||||||||||||||||||
|
CF |
|
AVA |
|
Consolidated |
|
CF |
|
AVA |
|
Consolidated |
||||||||||||
GAAP |
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Reported Net sales |
$ |
825 |
|
|
$ |
670 |
|
|
$ |
1,495 |
|
|
$ |
684 |
|
|
$ |
624 |
|
|
$ |
1,308 |
|
Reported Gross profit (1) |
|
405 |
|
|
|
348 |
|
|
|
742 |
|
|
|
333 |
|
|
|
316 |
|
|
|
645 |
|
Gross Margin |
|
49.1 |
% |
|
|
51.9 |
% |
|
|
49.6 |
% |
|
|
48.7 |
% |
|
|
50.6 |
% |
|
|
49.3 |
% |
Operating Income (2) |
|
169 |
|
|
|
159 |
|
|
|
215 |
|
|
|
140 |
|
|
|
135 |
|
|
|
195 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-GAAP |
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Adjusted Net sales |
$ |
825 |
|
|
$ |
670 |
|
|
$ |
1,495 |
|
|
$ |
684 |
|
|
$ |
624 |
|
|
$ |
1,308 |
|
Adjusted Gross profit (1) |
|
405 |
|
|
|
348 |
|
|
|
753 |
|
|
|
333 |
|
|
|
316 |
|
|
|
649 |
|
Adjusted Gross Margin |
|
49.1 |
% |
|
|
51.9 |
% |
|
|
50.4 |
% |
|
|
48.7 |
% |
|
|
50.6 |
% |
|
|
49.6 |
% |
Adjusted Operating Income (2) |
|
169 |
|
|
|
159 |
|
|
|
328 |
|
|
|
140 |
|
|
|
135 |
|
|
|
275 |
|
(1) |
Segment and Adjusted Gross profit excludes share-based compensation expense and business acquisition purchase accounting adjustments. |
|
(2) |
Segment and Non-GAAP Operating income excludes share-based compensation expense, business acquisition purchase accounting adjustments, amortization of intangible assets, acquisition and integration costs, exit and restructuring costs, as well as certain other non-recurring costs (impairment of goodwill and other intangible assets). |
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES |
|||||||
RECONCILIATION OF GAAP TO NON-GAAP NET INCOME |
|||||||
($ In millions, except share data) |
|||||||
(Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
April 4,
|
|
March 29,
|
||||
GAAP Net income |
$ |
135 |
|
|
$ |
136 |
|
Adjustments to Cost of sales(1) |
|
|
|
||||
Purchase accounting adjustments |
|
5 |
|
|
|
— |
|
Share-based compensation |
|
6 |
|
|
|
4 |
|
Total adjustments to Cost of sales |
|
11 |
|
|
|
4 |
|
Adjustments to Operating expenses(1) |
|
|
|
||||
Amortization of intangible assets |
|
37 |
|
|
|
24 |
|
Acquisition and integration costs |
|
1 |
|
|
|
3 |
|
Share-based compensation |
|
56 |
|
|
|
49 |
|
Exit and restructuring costs |
|
8 |
|
|
|
— |
|
Total adjustments to Operating expenses |
|
102 |
|
|
|
76 |
|
Adjustments to Other expense, net(1) |
|
|
|
||||
Amortization of debt issuance costs and discounts |
|
1 |
|
|
|
1 |
|
Loss on sale of investments |
|
15 |
|
|
|
— |
|
Foreign exchange loss |
|
— |
|
|
|
5 |
|
Gain on sale of business |
|
(5 |
) |
|
|
||
Total adjustments to Other expense, net |
|
11 |
|
|
|
6 |
|
Income tax effect of adjustments(2) |
|
|
|
||||
Reported income tax expense |
|
32 |
|
|
|
29 |
|
Adjusted income tax |
|
(56 |
) |
|
|
(43 |
) |
Total adjustments to income tax |
|
(24 |
) |
|
|
(14 |
) |
Total adjustments |
|
100 |
|
|
|
72 |
|
Non-GAAP Net income |
$ |
235 |
|
|
$ |
208 |
|
|
|
|
|
||||
GAAP earnings per share |
|
|
|
||||
Basic |
$ |
2.74 |
|
|
$ |
2.64 |
|
Diluted |
$ |
2.72 |
|
|
$ |
2.62 |
|
Non-GAAP earnings per share |
|
|
|
||||
Basic |
$ |
4.79 |
|
|
$ |
4.06 |
|
Diluted |
$ |
4.75 |
|
|
$ |
4.02 |
|
|
|
|
|
||||
Basic weighted average shares outstanding |
|
49,017,288 |
|
|
|
51,365,011 |
|
Diluted weighted average and equivalent shares outstanding |
|
49,428,337 |
|
|
|
51,806,550 |
|
(1) |
Presented on a pre-tax basis. |
|
(2) |
Represents adjustments to GAAP income tax expense commensurate with pre-tax non-GAAP adjustments (including the resulting impacts to |
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES |
|||||||
GAAP to NON-GAAP RECONCILIATION TO EBITDA |
|||||||
($ In millions) |
|||||||
(Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
April 4,
|
|
March 29,
|
||||
GAAP Net income |
$ |
135 |
|
|
$ |
136 |
|
Add back: |
|
|
|
||||
Depreciation (excluding exit and restructuring) |
|
19 |
|
|
|
17 |
|
Amortization of intangible assets |
|
37 |
|
|
|
24 |
|
Total Other expense, net |
|
48 |
|
|
|
30 |
|
Income tax expense |
|
32 |
|
|
|
29 |
|
EBITDA (Non-GAAP) |
|
271 |
|
|
|
236 |
|
|
|
|
|
||||
Adjustments to Cost of sales |
|
|
|
||||
Purchase accounting adjustments |
|
5 |
|
|
|
— |
|
Share-based compensation |
|
6 |
|
|
|
4 |
|
Total adjustments to Cost of sales |
|
11 |
|
|
|
4 |
|
Adjustments to Operating expenses |
|
|
|
||||
Acquisition and integration costs |
|
1 |
|
|
|
3 |
|
Share-based compensation |
|
56 |
|
|
|
49 |
|
Exit and restructuring costs |
|
8 |
|
|
|
— |
|
Total adjustments to Operating expenses |
|
65 |
|
|
|
52 |
|
Total adjustments to EBITDA |
|
76 |
|
|
|
56 |
|
Adjusted EBITDA (Non-GAAP) |
$ |
347 |
|
|
$ |
292 |
|
|
|
|
|
||||
Adjusted EBITDA margin (Non-GAAP) |
|
23.2 |
% |
|
|
22.3 |
% |
FREE CASH FLOW |
|||||||
|
Three Months Ended |
||||||
|
April 4,
|
|
March 29,
|
||||
Net cash provided by operating activities |
$ |
176 |
|
|
$ |
178 |
|
Less: Purchases of property, plant and equipment |
|
(13 |
) |
|
|
(20 |
) |
Free cash flow (Non-GAAP)(1) |
$ |
163 |
|
|
$ |
158 |
|
(1) Free cash flow, a non-GAAP measure, is defined as Net cash provided by (used in) operating activities in a period minus purchases of property, plant and equipment (capital expenditures) made in that period. |
|||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260512349117/en/
Investors
Michael Steele, CFA, IRC
Vice President, Investor Relations
Phone: + 1 847 518 6432
InvestorRelations@zebra.com
Media
Therese Van Ryne
Senior Director, External Communications
Phone: + 1 847 370 2317
therese.vanryne@zebra.com
Source: Zebra Technologies Corporation