Zebra Technologies Corporation (ZBRA) has been benefiting from improving supply chains and reduced product lead times of late. Targeted list price increases and higher sales of radio frequency identification devices (“RFID”) products are aiding the company’s Asset Intelligence and Tracking segment. Higher sales of services and software and contributions from recent acquisitions bode well for the Enterprise Visibility & Mobility segment.The firm remains focused on acquiring businesses to gain new customers a ...

Zebra Technologies announces the new evolution of its ultra-rugged mobile computers with the MC9400 Series, enhanced with 5G (data only) and Wi-Fi 6E connectivity for use inside and outdoors, even in cold storage. The MC9400 Series meets the connectivity, scanning and device security needs for retail, manufacturing, warehousing, transportation and logistics, including yards, ports and other tough workflows on the edge. (Photo: Business Wire)Zebra Technologies announces the new evolution of its ultra-rugged ...

Zebra Technologies Corporation (NASDAQ:ZBRA) Q3 2023 Earnings Conference Call October 31, 2023 8:30 AM ET Company Participants Michael Steele - Vice President of Investor Relations Bill Burns - Chief Executive Officer Nathan Winters - Chief Financial Officer Joachim Heel - Chief Revenue Officer Conference Call Participants Brad Hewitt - Wolfe Research, LLC Tommy Moll - Stephens, Inc. Damian Karas - UBS Securities LLC Keith Housum - Northcoast Research Joseph Giordano - TD Cowen Meta Marshall - Morgan Stanle ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-19406 Zebra Technologies Corporation (Exact name of registrant as specified in its charter) (State or other jurisdic ...

IIII III USPS FIRST-CLASS IIIIIIIIIII IMODIAN A.zERRA zebra technologies This presentation contains certain Non-GAAP financial measures, consisting of "adjusted net sales," "adjusted gross profit," "adjusted gross margin," "EBITDA," "Adjusted EBITDA," "Adjusted EBITDA margin," "Adjusted EBITDA % of adjusted net sales," "non-GAAP net income," "nonGAAP earnings per share," "non-GAAP diluted earnings per share," "free cash flow," "organic net sales," "organic net sales growth (decline)," and "adjusted operatin ...

Financial Data and Key Metrics Changes - In Q2, net sales decreased by 17.3%, with an organic decline of 16% [26] - Adjusted EBITDA margin was 21.2%, a decrease of 70 basis points year-over-year [51] - Non-GAAP diluted earnings per share fell by 29% to $3.29 [51] - The company expects Q3 sales to decline between 30% and 35% compared to the prior year [1] - Full-year sales outlook has been reduced to a decline of 20% to 23% [2] - Free cash flow is expected to be positive in the second half but negative for the year due to lower sales and earnings expectations [3] Business Line Data and Key Metrics Changes - The Asset Intelligence and Tracking segment was flat, with growth in RFID and supplies offset by a decline in printing [26] - The Enterprise Visibility & Mobility segment saw a decline of 23.6%, primarily due to a sharp drop in mobile computing [50] - Growth in data capture solutions partially offset the decline in mobile computing [50] Market Data and Key Metrics Changes - North America sales decreased by 11%, EMEA sales declined by 24%, Asia-Pacific sales decreased by 17%, and Latin America sales fell by 6% [37] - Demand was weakest in retail, e-commerce, and transportation logistics, with distributors focusing on reducing inventory levels [23] Company Strategy and Development Direction - The company is focused on advancing its Enterprise Asset Intelligence vision and positioning itself as a premier solutions provider [18] - Investments in machine vision and RFID solutions are expected to drive long-term growth [6][8] - The company is implementing cost reduction initiatives to align its cost structure with long-term business trajectories [15][48] Management's Comments on Operating Environment and Future Outlook - Management noted significant uncertainty in the demand environment and cautious customer spending behavior [22] - The company does not expect a recovery in 2023 and anticipates a reset of its cost structure [54] - Management believes that while sales are pressured near-term, the long-term value proposition remains strong [57] Other Important Information - The company incurred $5 million in premium supply chain costs compared to pre-pandemic levels, which are expected to be fully mitigated entering Q3 [55] - The company is focused on achieving 100% cash conversion over a cycle as part of its long-term incentive compensation plan [16] Q&A Session All Questions and Answers Question: Can you elaborate on the reset of the trajectory for e-commerce? - Management indicated that the reset is widespread, affecting various customers who are absorbing capacity built during the pandemic [60][63] Question: What is the outlook for the fourth quarter? - Management expects an uptick in Q4 revenue due to reduced destocking by distributors, but overall demand remains uncertain [66] Question: What are the biggest drivers of the recent demand decline? - The decline is driven by cautious spending behavior across all end markets, particularly in retail and e-commerce [71][72] Question: How is the machine vision segment performing? - The machine vision business is performing well, with growth opportunities in electric vehicles and pharmaceuticals despite short-term semiconductor challenges [112] Question: What is the expected full-year pricing benefit? - The company expects a full-year pricing benefit of around 2 points, slightly higher than previous guidance [104]

Presentation Title Nit. ZEBRA Click to enter Zebra Technologies First Quarter 2023 Results Safe Harbor Statement 2 ZEBRA TECHNOLOGIES First Quarter 2023 P&L Highlights (1) • Organic Net Sales (0.3)% ‒ Regional sales performance mixed; growth in APAC and NA offset declines in EMEA and LA ‒ Sales growth to small and medium size customers, moderating late in the quarter ‒ Printing, data capture, and RFID were bright spots; mobile computing declined • Non-GAAP Diluted EPS $3.94, (1.7)% year-over-year (1) Refer ...

Company Participants Tommy Moll - Stephens Damian Karas - UBS Jim Ricchiuti - Needham & Company Keith Housum - Northcoast Research Joe Giordano - TD Cowen Meta Marshall - Morgan Stanley Rob Mason - Baird Blake Keating - William Blair Guy Hardwick - Credit Suisse And at this time, I would now like to turn the conference over to Mike Steele, Vice President of Investor Relations. Please go ahead. During this call, we will reference non-GAAP financial measures as we describe our business performance. You can fi ...

Financial Data and Key Metrics Changes - For Q4 2022, Zebra Technologies reported a sales growth of approximately 4% and an adjusted EBITDA margin of 22.5%, which is an 80-basis-point increase year-over-year [7][13] - Non-GAAP diluted earnings per share increased by 5% to $4.75 compared to the prior year, with strong free cash flow generation [7][13] - Adjusted gross margin decreased by 10 basis points to 45.6%, while adjusted operating expenses improved by 100 basis points as a percentage of sales [13] Business Line Data and Key Metrics Changes - The Asset Intelligence and Tracking segment saw a 13.5% increase in sales, driven by double-digit growth in printing [11] - The Enterprise Visibility and Mobility segment's sales were approximately flat, with strong growth in data capture solutions and rugged tablets, while mobile computing sales declined [11] - Services and software also experienced growth with strong service attach rates [11] Market Data and Key Metrics Changes - North America sales increased by 11%, while EMEA sales declined by 7% due to the suspension of sales into Russia and lower sales to large customers in Northern Europe [12] - Asia-Pacific sales grew by 3%, with notable strength in Japan and growth in China despite COVID challenges [12] - Latin America sales increased by 7%, driven by strong growth in Brazil and Mexico [12] Company Strategy and Development Direction - The company is focused on advancing its Enterprise Asset Intelligence vision, emphasizing the importance of digitizing and automating workflows [21][24] - Zebra aims to leverage mega trends such as the on-demand economy, asset visibility, mobility, and intelligent automation to drive growth [24] - The company is well-positioned to deliver 5% to 7% organic growth over a cycle, with an increasing attractive margin profile [25] Management's Comments on Operating Environment and Future Outlook - Management noted cautious spending behavior from large customers but solid demand from small to midsized orders [8] - The outlook for Q1 2023 anticipates a sales decline of 4% to 1%, with expectations of negative 1% organic growth [17][18] - For the full year 2023, net sales are expected to decline by 3% to grow by 1%, with an adjusted EBITDA margin between 22% and 23% [18] Other Important Information - The company generated $413 million in free cash flow in 2022, with a significant reduction in premium supply chain costs expected in 2023 [14][19] - Zebra invested approximately $880 million in the Matrox Imaging acquisition to expand its machine vision solutions offering [15] Q&A Session Summary Question: Impact of inventory channel destocking on sales outlook - Management indicated that global channel inventory levels are healthy, with solid sell-through signals, and inventory levels normalized compared to pre-pandemic [31] Question: Margin trajectory and premium supply chain costs - Management explained that the adjusted EBITDA guidance reflects improvements from supply chain costs, offset by foreign exchange headwinds [32][33] Question: Outlook for projects business in 2023 - Management noted mixed signals with elongated sales cycles and some softening of demand, but a strong backlog and healthy pipeline for projects [35][36] Question: Changes in demand across geographic regions - Management acknowledged some anomalies due to the exit from Russia and COVID impacts in China, but overall no major shifts in revenue structure [39] Question: Trends in gross margin versus operating expenses - Management expects gross margin to increase throughout the year due to supply chain improvements, while operating expenses are anticipated to remain flat [41][42] Question: RFID market contribution and growth opportunities - Management highlighted that RFID is a low single-digit contributor currently, but significant growth opportunities exist across various sectors [43][44] Question: Customer spending adaptations and deal delays - Management noted that customers are adapting their spending to budgets, leading to delays in deployment schedules rather than downsizing deals [49] Question: Supply chain recovery timeline - Management indicated that most components have returned to reasonable lead times, with significant improvements expected in the first quarter [50][51] Question: Changes in deal sizes and Matrox integration - Management confirmed no significant downsizing of deals, and the integration of Matrox is progressing well with promising opportunities in machine vision [54][55] Question: Trends in different verticals for 2023 - Management observed strong secular trends across verticals, with manufacturing showing significant growth and health care expected to remain resilient [70][78]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER 000-19406 Zebra Technologies Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...