Zebra Technologies Corp
NASDAQ:ZBRA
Zebra Technologies Corp
Zebra Technologies Corp. has carved a niche for itself in the realm of enterprise solutions, standing as a beacon for companies aiming to bridge the digital and physical worlds. Founded in 1969, Zebra initially ventured into the printing world with barcode technology. As the winds of technological change swept through industries, Zebra adeptly expanded its portfolio, embedding itself deeper into the operational arteries of its clientele. The essence of Zebra’s operations lies in its capacity to create visibility and connectivity for businesses that are otherwise fragmented in their processes. By deploying its array of products including printers, scanners, RFID tags, and software, Zebra enables businesses to track assets, manage inventory, and monitor operations in real-time. This ability to transform data into intelligent insights is a cornerstone of Zebra’s business model.
Zebra generates revenue primarily by supplying hardware and software that are integral to the supply chain, retail, healthcare, and transportation industries. Its vast ecosystem of products and solutions enhances workflows, elevating business efficiency and productivity. The sale of devices like rugged mobile computers, barcode scanners, and printing machines represent a significant portion of its revenue. However, Zebra’s offerings extend beyond just hardware. The company also provides strategic software and analytics solutions that facilitate the extraction and implementation of actionable data insights, fostering smarter decision-making for its customers. Through its comprehensive service offerings, Zebra has not only positioned itself as a critical partner in operational excellence but also as an architect of the high-tech ecosystem that underpins modern business operations.
Zebra Technologies Corp. has carved a niche for itself in the realm of enterprise solutions, standing as a beacon for companies aiming to bridge the digital and physical worlds. Founded in 1969, Zebra initially ventured into the printing world with barcode technology. As the winds of technological change swept through industries, Zebra adeptly expanded its portfolio, embedding itself deeper into the operational arteries of its clientele. The essence of Zebra’s operations lies in its capacity to create visibility and connectivity for businesses that are otherwise fragmented in their processes. By deploying its array of products including printers, scanners, RFID tags, and software, Zebra enables businesses to track assets, manage inventory, and monitor operations in real-time. This ability to transform data into intelligent insights is a cornerstone of Zebra’s business model.
Zebra generates revenue primarily by supplying hardware and software that are integral to the supply chain, retail, healthcare, and transportation industries. Its vast ecosystem of products and solutions enhances workflows, elevating business efficiency and productivity. The sale of devices like rugged mobile computers, barcode scanners, and printing machines represent a significant portion of its revenue. However, Zebra’s offerings extend beyond just hardware. The company also provides strategic software and analytics solutions that facilitate the extraction and implementation of actionable data insights, fostering smarter decision-making for its customers. Through its comprehensive service offerings, Zebra has not only positioned itself as a critical partner in operational excellence but also as an architect of the high-tech ecosystem that underpins modern business operations.
Q4 Beat: Zebra reported fourth quarter sales of nearly $1.5 billion, up 10.6% (2.5% organic), with non-GAAP EPS of $4.33—8% above last year and above the high end of guidance.
Strong Cash & Buybacks: Free cash flow for 2025 topped $800 million, with $587 million in share buybacks for the year. The board added $1 billion to the repurchase authorization.
Guidance Raised: 2026 sales are expected to grow 9–13%, with Q1 sales growth guidance of 11–15%. Full-year EBITDA margin is expected at about 22%, and free cash flow at least $900 million.
Memory Cost Headwind: A 2-point gross margin headwind from memory prices is expected beginning in Q2, but management is confident they will fully offset it through price increases, cost actions, and supply chain moves.
RFID & AI Momentum: Zebra is seeing strong, broad-based growth in RFID and is expanding its AI-powered solutions, with high double-digit RFID growth expected to continue in 2026.
Portfolio Expansion: Recent acquisitions (Elo Touch and Photo Neo) are contributing to growth and broadening the solutions portfolio, especially for modern store and automation offerings.
