Financial Performance - Net sales for Q4 2025 were $1,475 million, a year-over-year increase of 10.6% compared to $1,334 million in Q4 2024[4]. - Net income for Q4 2025 was $70 million, a decrease of 57.1% from $163 million in Q4 2024, resulting in a net income per diluted share of $1.39[4][8]. - Adjusted EBITDA for Q4 2025 increased to $326 million, representing a 10.5% year-over-year growth[9]. - Total net sales for the year ended December 31, 2025, reached $5,396 million, a 8.3% increase compared to $4,981 million in 2024[28]. - Gross profit for the year ended December 31, 2025, was $2,593 million, resulting in a gross margin of 48.1%, slightly down from 48.4% in 2024[35]. - Net income for the year ended December 31, 2025, was $419 million, compared to $528 million in 2024, reflecting a decrease of 20.7%[30]. - Operating income for the year ended December 31, 2025, was $700 million, down from $742 million in 2024[28]. - GAAP net income for Q4 2025 was $70 million, compared to $163 million in Q4 2024, representing a decrease of 57.0%[37]. - Non-GAAP net income for Q4 2025 was $219 million, slightly up from $208 million in Q4 2024, indicating a growth of 5.3%[37]. - Adjusted EBITDA for the twelve months ended December 31, 2025, was $1,170 million, an increase of 11.7% from $1,047 million in 2024[40]. - Free cash flow for the twelve months ended December 31, 2025, was $831 million, down from $954 million in 2024, reflecting a decrease of 12.9%[42]. Sales Growth - The company expects sales growth between 11% and 15% for Q1 2026, including a favorable impact of approximately 10 percentage points from acquisitions and foreign currency translation[12]. - For the full year 2026, the company anticipates sales growth between 9% and 13%, with an expected adjusted EBITDA margin of approximately 22%[13]. - Organic net sales growth for Q4 2025 was 2.5%, with a 3.6% increase in the Connected Frontline segment and a 1.3% increase in the Asset Visibility & Automation segment[5]. - The company reported a consolidated organic net sales growth of 6.2% for the twelve months ended December 31, 2025[32]. Expenses and Costs - Operating expenses increased to $559 million in Q4 2025, primarily due to exit and restructuring charges and the addition of the Elo Touch acquisition[7]. - Research and development expenses for the year ended December 31, 2025, were $593 million, compared to $563 million in 2024, reflecting a 5.3% increase[28]. - The company incurred acquisition and integration costs of $24 million for the year ended December 31, 2025, compared to $6 million in 2024[28]. - Total adjustments to operating expenses for Q4 2025 amounted to $155 million, significantly higher than $50 million in Q4 2024[37]. - Share-based compensation in operating expenses for the twelve months ended December 31, 2025, was $163 million, compared to $101 million in 2024, an increase of 61.4%[40]. - The company incurred $76 million in exit and restructuring costs for the twelve months ended December 31, 2025, compared to $17 million in 2024, reflecting a significant increase[40]. Cash and Assets - Cash and cash equivalents at the end of the period decreased to $125 million from $901 million in 2024, indicating a significant cash outflow[30]. - Total assets increased to $8,502 million as of December 31, 2025, compared to $7,968 million in 2024, marking a growth of 6.7%[26]. - Total liabilities rose to $4,914 million in 2025, up from $4,382 million in 2024, an increase of 12.1%[26].

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)---- $ZBRA #earnings--Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in digitizing and automating workflows to deliver intelligent operations, today announced results for the fourth quarter and full year ended December 31, 2025. "We delivered a strong finish to the year as our team continued to advance the strategic priorities that strengthen Zebra's leadership in digitizing and automating workflows,†said Bill Burns, Chief Executive Officer, Zebra Technolog ...

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)---- $ZBRA #earnings--Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in digitizing and automating workflows to deliver intelligent operations, today announced that the Company's Board of Directors had approved a $1 billion increase to the Company's existing authorization to repurchase shares of Zebra Technologies Corporation Common Stock. This increase to the repurchase authorization augments the $1 billion authorization that was announced on July 30, 2019 ...

业绩经营情况 在财务方面，2025财年第三季度销售额为13亿美元，同比增长5%，调整后EBITDA利润率达21.6%。公 司强调RFID、移动计算等业务线的增长，尤其是亚太地区表现突出。 经济观察网斑马技术(ZBRA.US)近期值得关注的事件主要基于2025年10月31日发布的2025财年第三季度 业绩会议内容。根据该会议总结，公司宣布了一项未来12个月的5亿美元股票回购计划，预计持续至 2026年10月，以优化资本配置。同时，公司提及收购EloTouch Solutions的整合进程，旨在加速互联一线 愿景的实现。管理层在会议中对2025财年第四季度提出销售增长8-11%的预期。 以上内容基于公开资料整理，不构成投资建议。 ...

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财报尚未正式发布，目前市场预期主要基于分析师预测。机构对2025Q4业绩的乐观预期集中于营收增 长（尤其是亚太地区及RFID业务），但需关注毛利率受关税等因素的潜在影响。公司此前在2025年三 季报中提及AI技术（如Zebra Companion代理）的布局，可能成为财报会议讨论焦点。 经济观察网 斑马技术（ZBRA.OQ）计划于美东时间2月12日（北京时间2月13日凌晨）公布2025年第四 季度财报。机构普遍预期该季度营收为14.66亿美元（同比增长9.89%），每股收益为3.124美元（同比 微降0.52%）。此事件是影响短期股价波动的关键因素。 机构观点 股票近期走势 近7个交易日（2026年2月5日至2月11日），斑马技术股价呈现震荡上行态势。截至2月10日收盘，股价 报256.57美元，单日微跌0.47%，但近5日累计上涨10.04%，区间最高价触及259.79美元（2月10日）。 同期，美股大盘指数分化明显，纳斯达克指数下跌0.59%，而公司所属的通讯板块下跌0.41%，斑马技 术表现相对强势。 财报分析 近期公开研报中未发现针对斑马技术的专项分析。但部分行业报告提及AI技术对硬件需求的拉动，可 ...

Core Insights - Zebra Technologies will present at the Citi Global Industrial Tech & Mobility Conference on February 17, 2026, at 8:00 a.m. U.S. Eastern Time [1] - The company is recognized as a leader in digitizing and automating workflows, providing solutions across various industries including retail, manufacturing, transportation, logistics, and healthcare [1] Financial Announcements - Zebra Technologies is set to report its fourth quarter and full year 2025 financial results on February 12, 2026, with a conference call scheduled for 7:30 a.m. CT (8:30 a.m. ET) [1] - The company announced strong third-quarter results for the period ending September 27, 2025, attributing success to solid demand, lower-than-expected tariffs, and effective operational execution [1]

Core Insights - The core objective of BIOT solutions is to eliminate data silos between biological research, manufacturing, quality control, and supply chain management, enabling data-driven, intelligent, and traceable lifecycle management from "gene to product" [1][4] - The global BIOT solutions market is experiencing stable and continuous growth, with significant applications in high-frequency commercial sectors such as retail and food services, as well as logistics, energy management, and security monitoring [5][16] Industry Definition and Characteristics - Business Internet of Things (BIoT) integrates IoT technology for commercial purposes, connecting B-end merchants and end consumers to enhance customer experience and operational decision-making efficiency [2][4] - BIoT serves as a core infrastructure for digital transformation in businesses, allowing merchants to operate more efficiently and respond to consumer demands in real-time [2][4] Market Size and Growth - The global BIOT solutions market is projected to reach 246 billion yuan by 2025, an increase of 11 billion yuan from 2024, and is expected to grow to 258 billion yuan by 2026 [5][16] - The Android BIOT solutions market is anticipated to have a penetration rate of 15.45% by 2025, with a market size of 38 billion yuan, and is expected to reach a penetration rate of 17.83% and a market size of 46 billion yuan by 2026 [5][16] Industry Chain - The upstream of the BIoT industry chain includes hardware suppliers (such as scanning modules, printers, sensors), chip manufacturers, communication modules, and technology service providers (operating systems, AI algorithms, cloud computing) [8] - The midstream consists of BIOT solution integration and services, while the downstream applications span retail, food services, logistics, healthcare, and government sectors [8] Industry Development History - The BIoT ecosystem has evolved from BIoT 1.0 to BIoT 3.0, with the BIoT commercial 4.0 era on the horizon, indicating a dynamic and opportunity-rich landscape [10][11] Competitive Landscape - The BIoT solutions industry is characterized by early digital transformation and a multi-layered participant structure, with key players including Shanghai Sunmi Technology Group, Newland, and Zebra Technologies [11][12]

Core Viewpoint - Zebra Technologies Corporation is set to report its Q4 2025 earnings, with analysts projecting a slight decline in earnings per share (EPS) compared to the previous year, amidst a backdrop of stock underperformance relative to major indices [1][2][4]. Financial Performance - The company is expected to generate a profit of $3.52 per share on a diluted basis for Q4 2025, which represents a 2.8% decrease from $3.62 per share in the same quarter last year [2]. - For the current fiscal year, analysts project an EPS of $12.81, reflecting an 8.2% increase from $11.84 in fiscal 2024, with further growth anticipated to $14.33 in fiscal 2026, marking an approximate 11.9% year-over-year increase [3]. Stock Performance - Zebra Technologies' shares have declined by 35.3% over the past 52 weeks, significantly underperforming the S&P 500 Index, which rose by 16.7%, and the State Street Technology Select Sector SPDR ETF, which returned 25.2% during the same period [4]. - On October 28, 2025, despite reporting better-than-expected Q3 2025 earnings, the stock dropped by 11.7% due to a less favorable Q4 sales outlook, even though organic sales increased by 5.2% year-over-year to $1.3 billion and adjusted EPS for the quarter was $3.88 [5]. Analyst Ratings - Analysts maintain a "Moderate Buy" rating for Zebra Technologies, with 10 out of 17 analysts recommending a "Strong Buy," one a "Moderate Buy," and six suggesting a "Hold" [6]. - The average analyst price target for the stock is $358.21, indicating a potential upside of 38.4% from current levels [6].

Core Insights - Ditto, a leader in edge computing and peer-to-peer data synchronization, has announced its participation in Zebra's PartnerConnect program, which is recognized for empowering partners to enhance their expertise and customer service [1] Company Overview - Ditto specializes in edge-native mobile databases that provide resilient, offline-first solutions, indicating a strong focus on innovative technology in data management [1] Industry Context - Zebra Technologies' PartnerConnect program is noted as a leading channel program, highlighting the importance of partnerships in the technology sector for growth and customer engagement [1]