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Midas Edge

ZEBRA TECHNOLOGIES CORP

For the period ended Jun 28, 2025. Filed Aug 5, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 28, 2025 · Filed Aug 5, 2025

ZBRA$321.38-1.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Consolidated Financial Statements

CONSOLIDATED BALANCE SHEETS

June 28,2025December 31,2024
(Unaudited)
Assets
Current assets:
Cash and cash equivalents$872$901
Accounts receivable, net of allowances for doubtful accounts of $1 each as of June 28, 2025 and December 31, 2024634692
Inventories, net686693
Income tax receivable5020
Prepaid expenses and other current assets92134
Total Current assets2,3342,440
Property, plant and equipment, net314305
Right-of-use lease assets165167
Goodwill3,9313,891
Other intangibles, net400422
Deferred income taxes565512
Other long-term assets229231
Total Assets$7,938$7,968
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt$44$79
Accounts payable569633
Accrued liabilities469503
Deferred revenue457453
Income taxes payable5536
Total Current liabilities1,5941,704
Long-term debt2,1282,092
Long-term lease liabilities152155
Deferred income taxes5857
Long-term deferred revenue315304
Other long-term liabilities7470
Total Liabilities4,3214,382
Stockholders’ Equity:
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued——
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares11
Additional paid-in capital733669
Treasury stock at cost, 21,315,596 and 20,645,798 shares as of June 28, 2025 and December 31, 2024, respectively(2,147)(1,900)
Retained earnings5,1084,860
Accumulated other comprehensive loss(78)(44)
Total Stockholders’ Equity3,6173,586
Total Liabilities and Stockholders’ Equity$7,938$7,968

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months EndedSix Months Ended
June 28,2025June 29,2024June 28,2025June 29,2024
Net sales:
Tangible products$1,055$983$2,117$1,912
Services and software238234484480
Total Net sales1,2931,2172,6012,392
Cost of sales:
Tangible products5535151,0951,013
Services and software124113245227
Total Cost of sales6776281,3401,240
Gross profit6165891,2611,152
Operating expenses:
Selling and marketing158150319298
Research and development144146295284
General and administrative10297213178
Amortization of intangible assets25254951
Acquisition and integration costs4172
Exit and restructuring costs—3—13
Total Operating expenses433422883826
Operating income183167378326
Other (loss) income, net:
Foreign exchange (loss) gain(11)—(16)3
Interest expense, net(25)(23)(48)(40)
Other expense, net(9)(8)(11)(11)
Total Other expense, net(45)(31)(75)(48)
Income before income tax138136303278
Income tax expense26235550
Net income$112$113$248$228
Basic earnings per share$2.20$2.19$4.85$4.43
Diluted earnings per share$2.19$2.17$4.81$4.40

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In millions)

Three Months EndedSix Months Ended
June 28,2025June 29,2024June 28,2025June 29,2024
Net income$112$113$248$228
Other comprehensive income, net of tax:
Changes in unrealized (losses) gains on sales hedging(33)1(61)10
Foreign currency translation adjustment20(3)27(8)
Comprehensive income$99$111$214$230

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

Class A Common Stock SharesClass A Common Stock ValueAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
Balance at December 31, 202451,506,059$1$669$(1,900)$4,860$(44)$3,586
Net share issuances and tax withholding payments related to share-based compensation plans6,550—(1)———(1)
Share-based compensation——51———51
Repurchase of common stock(374,358)——(125)——(125)
Net income————136—136
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————(28)(28)
Foreign currency translation adjustment—————77
Balance at March 29, 202551,138,251$1$719$(2,025)$4,996$(65)$3,626
Net share issuances and tax withholding payments related to share-based compensation plans172,677—(18)3——(15)
Share-based compensation——32———32
Repurchase of common stock(474,667)——(125)——(125)
Net income————112—112
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————(33)(33)
Foreign currency translation adjustment—————2020
Balance at June 28, 202550,836,261$1$733$(2,147)$5,108$(78)$3,617
Class A Common Stock SharesClass A Common Stock ValueAdditional Paid-in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive LossTotal
Balance at December 31, 202351,378,862$1$615$(1,858)$4,332$(54)$3,036
Net share issuances and tax withholding payments related to share-based compensation plans21,106—(3)———(3)
Share-based compensation——17———17
Net income————115—115
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————99
Foreign currency translation adjustment—————(5)(5)
Balance at March 30, 202451,399,968$1$629$(1,858)$4,447$(50)$3,169
Net share issuances and tax withholding payments related to share-based compensation plans170,023—(27)3——(24)
Share-based compensation——31———31
Net income————113—113
Changes in unrealized gains and losses on sales hedging (net of income taxes)—————11
Foreign currency translation adjustment—————(3)(3)
Balance at June 29, 202451,569,991$1$633$(1,855)$4,560$(52)$3,287

Certain prior period amounts have been reclassified to conform with the current period presentation.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.