Now you can get access to the latest and highest-quality analysis of recent Wall Street buying and selling ideas with just one subscription to Beyond the Wall Investing ! There is a free trial and a special discount of 10% for you. Join us today!Daniel Sereda is chief investment analyst at a family office whose investments span continents and diverse asset classes. This requires him to navigate through a plethora of information on a daily basis. His expertise is in filtering this wealth of data to extract t ...

Core Insights - The article highlights the availability of high-quality analysis on Wall Street buying and selling ideas through a subscription service called Beyond the Wall Investing, which offers a free trial and a 10% discount [1] Group 1 - Daniel Sereda is identified as the chief investment analyst at a family office, managing investments across various continents and asset classes, emphasizing the need to navigate extensive information daily [1] - The investment group Beyond the Wall Investing provides access to critical information prioritized by institutional market participants, indicating a focus on high-quality data analysis [1]

Core Insights - The company's Q4 performance was significantly driven by strong execution in the Asia Pacific and Latin America regions, alongside a return to growth in EMEA and key end markets such as healthcare and retail [1] Strategic Focus - Management is sharpening its strategic focus by exiting the robotics business to prioritize higher-growth opportunities in RFID, machine vision, and AI-powered solutions [1] - The acquisition of Elo Touch is being leveraged to enhance the 'modern store' offering, integrating self-service kiosks and digital media with frontline mobility [1] Operational Performance - Operational leverage was achieved by fully mitigating existing tariffs through supply chain moves, product portfolio rationalization, and price execution; however, the adjusted gross margin declined by 50 basis points due to lower services and software margins [1] AI Positioning - The company is positioning itself as a critical enabler of AI by providing the 'digital voice' for physical assets through its visibility and automation segments [1] Capital Allocation - Strategic capital allocation remains balanced between internal investments, accretive M&A like Fotoneo, and returning value via a new $1 billion share repurchase authorization [1]

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, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) Delaware 36-2675536 (I.R.S. Employer Identification No.) 3 Overlook Point, Lincolnshire, IL 60069 (Address of principal exec ...

Core Insights - Zebra Technologies' stock rose by 10.5% following its Q4 2025 results, which were in line with expectations, and management provided optimistic guidance for the next quarter [1][2]. Financial Performance - Zebra's Q4 sales increased by 10.6% year-over-year, reaching $1.48 billion, while adjusted earnings per diluted share rose from $4.00 to $4.33, matching analyst expectations [2]. - The upcoming guidance from management anticipates revenues of approximately $1.48 billion and adjusted earnings of around $4.18 per share, both exceeding current market projections [3]. Market Position and Strategy - Zebra operates in a challenging market environment but continues to achieve strong results, despite rising computer hardware costs impacting profit margins [4]. - The company targets various sectors, including manufacturing, e-commerce, healthcare, and fast food, which are increasingly seeking digital inventory tracking and data management solutions [5]. - CEO Bill Burns emphasized Zebra's leadership position in providing AI solutions for frontline business operations, positioning the company as a key player in the AI market [6]. Valuation Metrics - Currently, Zebra's stock trades at a valuation of 2.7 times sales and 28 times trailing earnings, with a forward P/E ratio of just 14x, suggesting it may be undervalued considering its growth prospects [7].

Key Takeaways ZBRA Q4 EPS of $4.33 missed estimates, though revenues rose 10.6% to $1.48B.Connected Frontline sales jumped 17.6%, while Asset Visibility & Automation grew 2.1%.ZBRA guides 2026 EPS of $17.70-$18.30 and expects sales growth of 9-13%.Zebra Technologies Corporation (ZBRA) reported fourth-quarter 2025 adjusted earnings of $4.33 per share, which missed the Zacks Consensus Estimate of $4.34. The bottom line increased 8.3% from $4.00 per share reported in the year-ago quarter.Total revenues of $1.4 ...

Financial Data and Key Metrics Changes - For Q4, the company reported sales of nearly $1.5 billion, a 10.6% increase year-over-year, or 2.5% on an organic basis [6][10] - Adjusted EBITDA margin was 22.1%, and non-GAAP diluted earnings per share were $4.33, an 8% increase from the prior year [6][11] - For the full year, sales growth exceeded 6%, aligning with long-term expectations, and non-GAAP diluted earnings per share grew by 17% [8][10] Business Line Data and Key Metrics Changes - The connected frontline segment grew by 3.6%, driven by mobile computing, while the asset visibility and automation segment grew by 1.3%, led by printing and supplies [10] - Strong performance was noted in healthcare, manufacturing, and retail/e-commerce markets, while transportation and logistics faced tough comparisons in North America [7][10] Market Data and Key Metrics Changes - Asia Pacific sales increased by 13%, with Japan and India leading the growth, while Latin America saw an 8% increase, particularly in Mexico [10] - EMEA sales grew by 4%, with notable growth in Northern Europe and Germany, while North America experienced a 1% decline due to prior year large order activity [10] Company Strategy and Development Direction - The company is focusing on advancing intelligent operations through acquisitions and enhancing its portfolio in RFID, machine vision, and AI-powered solutions [5][16] - The acquisition of Elo Touch is expected to enhance the modern store experience and expand business opportunities across various sectors [19][20] - The company aims to capitalize on a $35 billion served market, emphasizing the importance of digital connectivity in improving efficiency and customer experience [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, supported by a solid backlog and pipeline, with Q1 sales growth guidance of 11%-15% [13][14] - The company anticipates facing industry-wide price increases for memory components starting in Q2 but expects to fully mitigate this headwind [14][15] - Management highlighted ongoing investments in AI solutions and the importance of adapting to customer needs in a rapidly changing environment [17][18] Other Important Information - The company generated over $800 million in free cash flow for the year and repurchased more than $300 million in Q4, with an additional $1 billion share repurchase authorization [8][12] - Adjusted gross margin declined by 50 basis points to 48.2%, primarily due to lower service and software margins, but operational expense leverage improved [11][12] Q&A Session Summary Question: Can you elaborate on the anticipated 2-point headwind from memory costs? - Management confirmed a 2-point gross margin headwind due to memory chip demand and pricing increases, with multiple mitigation strategies in place [30][32] Question: What factors are contributing to the Q1 revenue guidance being above Q4? - Management attributed this to a strong finish in Q4, the addition of Elo, and a general reacceleration of growth across various segments [39][40] Question: How does the company view the impact of pricing on customer behavior? - Management noted that customers are increasingly accepting price increases due to external factors like tariffs and memory costs, while also recognizing the added value in technology [50][51] Question: What is the company's confidence regarding product availability in the second half of the year? - Management expressed confidence in securing product availability through strong supplier relationships and proactive demand shaping [66][69] Question: Can you discuss the performance of the software margins? - Management indicated that service portfolio costs have impacted margins, but improvements are expected as the platform unification efforts conclude [88][90]

Financial Data and Key Metrics Changes - In Q4, the company reported sales of nearly $1.5 billion, a 10.6% increase year-over-year, or 2.5% on an organic basis [6][10] - Adjusted EBITDA margin was 22.1%, and non-GAAP diluted earnings per share were $4.33, an 8% increase from the prior year [6][11] - For the full year, sales growth exceeded 6%, aligning with long-term expectations, and non-GAAP diluted earnings per share grew by 17% [8] Business Line Data and Key Metrics Changes - The connected frontline segment grew 3.6%, driven by mobile computing, while the asset visibility and automation segment grew 1.3%, led by printing and supplies [10] - Strong performance was noted in healthcare, manufacturing, and retail and e-commerce markets, while transportation and logistics faced tough comparisons in North America [7] Market Data and Key Metrics Changes - Asia Pacific sales increased by 13%, with Japan and India leading the growth, while Latin America saw an 8% increase, particularly in Mexico [10] - EMEA sales grew by 4%, with notable growth in Northern Europe and Germany, whereas North America experienced a 1% decline due to prior year large order activity [10] Company Strategy and Development Direction - The company is focusing on advancing intelligent operations through acquisitions and enhancing its portfolio in RFID, machine vision, and AI-powered solutions [5][16] - The acquisition of Elo Touch is expected to enhance the modern store experience and expand business opportunities across various sectors [19] - The company aims to capitalize on a $35 billion served market by improving efficiency and customer experience through its innovative solutions [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, citing a solid backlog and pipeline supporting Q1 sales growth guidance of 11%-15% [13] - The company anticipates facing industry-wide price increases for memory components starting in Q2 but expects to fully mitigate this headwind [14] - Management highlighted ongoing investments in AI solutions and a strong demand environment across various sectors [78] Other Important Information - The company generated over $800 million in free cash flow for the year and repurchased more than $300 million in Q4, with an additional $1 billion share repurchase authorization [8][12] - Adjusted gross margin declined by 50 basis points to 48.2%, primarily due to lower service and software margins [11][89] Q&A Session Summary Question: Can you elaborate on the anticipated 2-point headwind from memory costs? - Management confirmed a 2-point gross margin headwind due to memory chip demand and price increases, with multiple mitigation strategies in place [30][32] Question: What is the visibility on the pipeline and revenue guidance for Q1? - Management noted that the strong finish to the previous year and the acquisition of Elo contributed to improved visibility and revenue guidance for Q1 [39][40] Question: How does the company plan to address potential product shortages in the second half of the year? - Management emphasized strong supplier relationships and proactive demand shaping to ensure product availability [66][69] Question: What are customers saying about their spending plans for 2026? - Customers are focused on investing in technology and improving efficiencies, with a solid backlog and pipeline supporting growth [78][79] Question: How is the company addressing the decline in software margins? - Management indicated that higher repair costs are impacting service margins, but improvements are expected as the unified platform transitions are completed [89][90]

Zebra Technologies (NasdaqGS:ZBRA) Q4 2025 Earnings call February 12, 2026 08:30 AM ET Speaker9Good day, and welcome to the fourth quarter and full year 2025 Zebra Technologies Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded. I would now like to turn the confere ...

Core Viewpoint - Zebra Technologies has projected its 2026 sales and profit to exceed Wall Street estimates, driven by strong demand for its barcode scanners and communication devices, resulting in a rise in the company's shares [1] Group 1: Financial Forecast - The company anticipates robust sales growth, with expectations for 2026 sales and profit surpassing analyst predictions [1] - The positive outlook is attributed to increasing demand for its core products, particularly barcode scanners and communication devices [1] Group 2: Market Reaction - Following the announcement, shares of Zebra Technologies experienced an upward movement, reflecting investor confidence in the company's growth prospects [1]