Jun 2026 (Q2 FY26) — Aug 4, 2026
Zebra Q2 FY26 — Record Results and Raised Full-Year Outlook
Read the full callZebra (ZBRA) earnings
- Jul 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Zebra earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,557 | +20.4% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 20.6 | +6.5 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 233 | +108.0% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
55 of 55 judged targets kept · 31 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 adjusted EBITDA margin | slightly higher than 21% | Mar 2026 | An adjusted EBITDA margin of 27.7%, including the benefit of $73 million of tariff recovery | Achieved |
| Full-year adjusted EBITDA margin (FY26) | approximately 22% | Dec 2025 | Our full year adjusted EBITDA margin is now expected to be between 23.5% and 24% | Revised Up |
| Elo Touch acquisition EBITDA synergies | $25 million of incremental annual EBITDA synergies by year 3 | Jun 2025 | progress we're making on synergies, about $10 million identified so far | On Track |
31 of ZEBRA TECHNOLOGIES CORP's 86 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 83 more targets are in the full ledger.
Claimed
- Sales exceeded $1.5 billion, growing over 20% (9% organic) YoY.
- Adjusted EBITDA margin expanded by 7.1 points to 27.7% YoY.
- Non-GAAP diluted EPS increased 76% YoY to $6.35.
- Full-year free cash flow is expected to be at least $1 billion, representing 100% conversion.
- Elo Touch acquisition contributed strong profitable growth, exceeding expectations.
Qualified
- Memory cost headwinds of approximately $120 million are expected for the full year.
- Ongoing memory supply constraints continue to gate demand, influencing guidance to the midpoint.
- EMEA sales were partially offset by continued softness in the Middle East.
Price
$377.51 +0.17% · +$0.63
Performance +30.6% 1Y
1Y: $288.99 on 14 Oct 2025 → $377.51. High $388.12 (12 Oct 2026), low $199.3 (30 Mar 2026).
- Previous close
- $376.88
- 52-week range
- $199.3 – $388.12
- One year
- +28.69%
Overview
- Symbol
- ZBRA
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
55 of 55 judged targets kept · 31 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 adjusted EBITDA margin | slightly higher than 21% | Mar 2026 | An adjusted EBITDA margin of 27.7%, including the benefit of $73 million of tariff recovery | Achieved |
| Full-year adjusted EBITDA margin (FY26) | approximately 22% | Dec 2025 | Our full year adjusted EBITDA margin is now expected to be between 23.5% and 24% | Revised Up |
| Elo Touch acquisition EBITDA synergies | $25 million of incremental annual EBITDA synergies by year 3 | Jun 2025 | progress we're making on synergies, about $10 million identified so far | On Track |
Claimed
- Sales exceeded $1.5 billion, growing over 20% (9% organic) YoY.
- Adjusted EBITDA margin expanded by 7.1 points to 27.7% YoY.
- Non-GAAP diluted EPS increased 76% YoY to $6.35.
- Full-year free cash flow is expected to be at least $1 billion, representing 100% conversion.
- Elo Touch acquisition contributed strong profitable growth, exceeding expectations.
Qualified
- Memory cost headwinds of approximately $120 million are expected for the full year.
- Ongoing memory supply constraints continue to gate demand, influencing guidance to the midpoint.
- EMEA sales were partially offset by continued softness in the Middle East.
The full ledger
Open ZEBRA TECHNOLOGIES CORP’s full ledger
A free account opens 5 company ledgers a month. All 86 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 12, 2026
Zebra Technologies Q1 FY26 — Strong Start and Raised Full-Year Outlook
Read the full callEvery analysed call
Zebra earnings calls (ZBRA)
Financials
What the filings say
Net profit, year on year: +108% (quarter to jul 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,255 | 1,334 | 1,308 | 1,293 | 1,320 | 1,475 | 1,495 | 1,557 |
| Operating profit | 191 | 225 | 195 | 183 | 183 | 139 | 215 | 321 |
| Operating margin | 15.2% | 16.9% | 14.9% | 14.2% | 13.9% | 9.4% | 14.4% | 20.6% |
| Other income | -42 | -17 | -30 | -45 | -24 | -41 | -48 | -36 |
| Profit before tax | 149 | 208 | 165 | 138 | 159 | 98 | 167 | 285 |
| Tax rate | 8.1% | 21.6% | 17.6% | 18.8% | 36.5% | 28.6% | 19.2% | 18.3% |
| Net profit | 137 | 163 | 136 | 112 | 101 | 70 | 135 | 233 |
| EPS ($ per share) | 2.65 | — | 2.64 | 2.20 | 1.98 | — | 2.74 | 4.89 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 1,688 | 2,232 | 2,736 | 3,573 | 4,036 | 4,332 | 4,860 | 5,279 |
| Total liabilities | 3,004 | 2,872 | 3,231 | 3,231 | 4,796 | 4,270 | 4,382 | 4,914 |
| Fixed assets | 249 | 259 | 274 | 272 | 278 | 309 | 305 | 353 |
| Total assets | 4,339 | 4,711 | 5,375 | 6,215 | 7,529 | 7,306 | 7,968 | 8,502 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 785 | 685 | 962 | 1,069 | 488 | -4 | 1,013 | 917 |
| Cash from investing | -137 | -335 | -641 | -546 | -968 | -92 | -57 | -1,455 |
| Cash from financing | -661 | -365 | -157 | -371 | 253 | 117 | -190 | -239 |
| Net cash flow | -18 | -14 | 162 | 152 | -227 | 21 | 763 | -776 |
| Capital expenditure | -64 | -61 | -67 | -59 | -75 | -87 | -59 | -86 |
| Free cash flow | 721 | 624 | 895 | 1,010 | 413 | -91 | 954 | 831 |
ZBRA revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Connected Frontline | — | — | — | — | — | — | — | 58% | — |
| Asset Visibility and Automation | — | — | — | — | — | — | — | 42% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- North America 50%
- EMEA 32%
- Asia Pacific 12% ↑ 1 pt
- Latin America 7%
As ZBRA cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
87 filings between Nov 3, 2025 and Aug 10, 2026.
Open market
decisions to buy or sellPurchases
$386.8K
4 purchases by 1 insider
Sales
$2.41M
6 sales by 6 insiders
Compensation
not trading decisions- 28
- Award — granted as compensation
- 6
- Option exercise — converted options into shares
- 43
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Cho Michael | — | $1.31M | Aug 7, 2026 |
| ROBERTS JANICE M | — | $748.6K | May 14, 2026 |
| Dhanasekaran Satish | $386.8K | — | Mar 12, 2026 |
| Connly Linda | — | $188.8K | Aug 10, 2026 |
| Luff Loizides Melissa | — | $127.0K | May 26, 2026 |
| Kogl Cristen L | — | $34.2K | Mar 5, 2026 |
| Armstrong Robert John Jr | — | $2.1K | Mar 5, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 10, 2026 | Connly Linda Director | Sale | 500 | $188.8K |
| Aug 7, 2026 | Cho Michael Chief Strategy Officer | Sale | 3,500 | $1.31M |
| Aug 3, 2026 | Luff Loizides Melissa Chief People Officer | Tax withheld | 46 | $13.4K |
| May 26, 2026 | Luff Loizides Melissa Chief People Officer | Sale | 500 | $127.0K |
| May 19, 2026 | GUSTAFSSON ANDERS Director | Award | 951 | $235.0K |
| May 19, 2026 | Connly Linda Director | Award | 951 | $235.0K |
| May 19, 2026 | Miller Kenneth Bradley Director | Award | 951 | $235.0K |
| May 19, 2026 | ROBERTS JANICE M Director | Award | 951 | $235.0K |
| May 19, 2026 | MANIRE ROSS W Director | Award | 951 | $235.0K |
| May 19, 2026 | Connors Nelda J Director | Award | 951 | $235.0K |
| May 19, 2026 | MCDOWELL MARY T Director | Award | 951 | $235.0K |
| May 19, 2026 | Modruson Frank Blaise Director | Award | 951 | $235.0K |
| May 19, 2026 | SMITH MICHAEL A Director | Award | 951 | $235.0K |
| May 19, 2026 | Dhanasekaran Satish Director | Award | 951 | $235.0K |
| May 14, 2026 | ROBERTS JANICE M Director | Sale | 3,000 | $748.6K |
| May 4, 2026 | Armstrong Robert John Jr Chief Marketing Officer | Tax withheld | 367 | $82.1K |
| May 4, 2026 | Hudson Richard Edward Chief Revenue Officer | Tax withheld | 257 | $57.5K |
| May 4, 2026 | Burns Bill Chief Executive Officer | Tax withheld | 6,185 | $1.38M |
| May 4, 2026 | O'Sullivan Colleen M Chief Accounting Officer | Tax withheld | 334 | $74.7K |
| May 4, 2026 | Froese Tamara Dionne Chief Supply Chain Officer | Tax withheld | 515 | $115.2K |
| May 4, 2026 | Luff Loizides Melissa Chief People Officer | Tax withheld | 122 | $27.3K |
| May 4, 2026 | Kogl Cristen L Chief Legal Officer | Tax withheld | 1,501 | $335.8K |
| May 4, 2026 | Cho Michael Chief Strategy Officer | Tax withheld | 779 | $174.3K |
| May 4, 2026 | Winters Nathan Andrew Chief Financial Officer | Tax withheld | 2,663 | $595.8K |
| May 2, 2026 | Winters Nathan Andrew Chief Financial Officer | Tax withheld | 717 | $162.8K |
| May 2, 2026 | Froese Tamara Dionne Chief Supply Chain Officer | Tax withheld | 139 | $31.6K |
| May 2, 2026 | Burns Bill Chief Executive Officer | Tax withheld | 2,005 | $455.3K |
| May 2, 2026 | Armstrong Robert John Jr Chief Marketing Officer | Tax withheld | 147 | $33.4K |
| May 2, 2026 | Kogl Cristen L Chief Legal Officer | Tax withheld | 391 | $88.8K |
| May 2, 2026 | O'Sullivan Colleen M Chief Accounting Officer | Tax withheld | 87 | $19.8K |
| May 2, 2026 | Luff Loizides Melissa Chief People Officer | Tax withheld | 42 | $9.5K |
| May 2, 2026 | Cho Michael Chief Strategy Officer | Tax withheld | 162 | $36.8K |
| Apr 8, 2026 | Burns Bill Chief Executive Officer | Tax withheld | 184 | $41.1K |
| Apr 8, 2026 | Burns Bill Chief Executive Officer | Option exercise | 358 | $73.4K |
| Apr 7, 2026 | GUSTAFSSON ANDERS Director | Option exercise | 805 | $165.1K |
| Apr 7, 2026 | GUSTAFSSON ANDERS Director | Tax withheld | 279 | $59.3K |
| Apr 7, 2026 | GUSTAFSSON ANDERS Director | Tax withheld | 13,621 | $2.90M |
| Apr 7, 2026 | GUSTAFSSON ANDERS Director | Option exercise | 32,057 | $1.65M |
| Mar 16, 2026 | Armstrong Robert John Jr Chief Marketing Officer | Tax withheld | 157 | $32.0K |
| Mar 12, 2026 | Dhanasekaran Satish Director | Purchase | 200 | $41.1K |
| Mar 5, 2026 | Winters Nathan Andrew Chief Financial Officer | Option exercise | 33 | $6.8K |
| Mar 5, 2026 | Kogl Cristen L Chief Legal Officer | Sale | 145 | $34.2K |
| Mar 5, 2026 | Armstrong Robert John Jr Chief Marketing Officer | Tax withheld | 8 | $1.8K |
| Mar 5, 2026 | Kogl Cristen L Chief Legal Officer | Option exercise | 287 | $58.9K |
| Mar 5, 2026 | Armstrong Robert John Jr Chief Marketing Officer | Option exercise | 17 | $3.5K |
| Mar 5, 2026 | Armstrong Robert John Jr Chief Marketing Officer | Sale | 9 | $2.1K |
| Mar 5, 2026 | Winters Nathan Andrew Chief Financial Officer | Tax withheld | 16 | $3.7K |
| Mar 5, 2026 | Kogl Cristen L Chief Legal Officer | Tax withheld | 142 | $33.4K |
| Mar 4, 2026 | Luff Loizides Melissa Chief People Officer | Tax withheld | 43 | $10.0K |
| Mar 4, 2026 | Winters Nathan Andrew Chief Financial Officer | Tax withheld | 812 | $187.9K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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