ZBRA on Nasdaq

Zebra Technologies

Logo: HaleyZebra, CC BY-SA 4.0, via Wikimedia Commons4

American technology company

Zebra Technologies Corporation (ZBR), commonly known as Zebra, is an American multinational technology conglomerate corporation, specializing in smart data capture systems. As of 2025, Zebra holds nearly 8,000 patents and patent applications worldwide.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1969Founded1

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  • TickerZBRA on Nasdaq1
  • Industrycomputer hardware industry1
  • HeadquartersLincolnshire1
  • Websitewww.zebra.com
  • Legal formDelaware corporation1
  • Business address3 Overlook Point, Lincolnshire, Il 600695
  • Filer categoryLarge accelerated filer5
Zebra TC-56 (IMG 0339)
Photo: Matti Blume, CC BY-SA 4.0, via Wikimedia Commons7

Zebra Technologies Corporation (ZBR), commonly known as Zebra, is an American multinational technology conglomerate corporation, specializing in smart data capture systems.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

48.1%Gross margin8
13.0%Operating margin8
7.8%Net margin8
8.3%Revenue growth, 20258
11.7%Return on equity8
0.66×Debt to equity8
$831.0MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Tangible Products brought in 82% of the revenue Zebra Technologies broke down this way in fiscal 2025.

  1. Tangible Products$4.4B882%up 10% from 2024
  2. Service And Software$978.0M818%up 1% from 2024
Products and services by year
Products and services202320242025
Tangible Products$3.7B$4.0B$4.4B
Service And Software$919.0M$965.0M$978.0M

Business segments

Connected Frontline brought in 55% of the revenue Zebra Technologies broke down this way in fiscal 2025.

  1. Connected Frontline$3.0B855%up 9% from 2024
  2. Asset Visibility and Automation$2.4B845%up 7% from 2024
Business segments by year
Business segments202320242025
Connected Frontline$2.3B$2.7B$3.0B
Asset Visibility and Automation$2.3B$2.3B$2.4B

Regions

North America brought in 30% of the revenue Zebra Technologies broke down this way in fiscal 2025.

  1. North America$2.7B830%up 8% from 2024
  2. United States$2.6B830%up 9% from 2024
  3. EMEA$1.7B819%up 5% from 2024
  4. Germany$864.0M810%up 8% from 2024
  5. Asia Pacific$613.0M87%up 17% from 2024
  6. Latin America$364.0M84%up 11% from 2024
Regions by year
Regions202320242025
North America$2.4B$2.5B$2.7B
United States$2.3B$2.4B$2.6B
EMEA$1.4B$1.6B$1.7B
Germany$682.0M$797.0M$864.0M
Asia Pacific$513.0M$526.0M$613.0M
Latin America$285.0M$328.0M$364.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue52¢$2.8B
  • Research and development11¢$593.0M
  • Other costs27¢$1.4B
  • Income tax3¢$141.0M
  • Profit8¢$419.0M

Out of $5.4B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Capital spending9¢$86.0M
  • Share buybacks64¢$587.0M
  • Kept or used elsewhere27¢$244.0M

Out of $917.0M of cash from operations.8

Financial statements

Revenue91011128$5.4B in 2025+20% since 2019
0$2.0B$4.0B$6.0B2019: $4.5B$4.5B20192020: $4.4B$4.4B2020−1%2021: $5.6B$5.6B2021+27%2022: $5.8B$5.8B2022+3%2023: $4.6B$4.6B2023−21%2024: $5.0B$5.0B2024+9%2025: $5.4B$5.4B2025+8%
Gross profit91011128$2.6B in 2025+23% since 2019
0$1.0B$2.0B$3.0B2019: $2.1B$2.1B20192020: $2.0B$2.0B2020−5%2021: $2.6B$2.6B2021+31%2022: $2.6B$2.6B2022−0%2023: $2.1B$2.1B2023−19%2024: $2.4B$2.4B2024+14%2025: $2.6B$2.6B2025+7%
Operating income91011128$700.0M in 2025+1% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $692.0M$692.0M20192020: $651.0M$651.0M2020−6%2021: $979.0M$979.0M2021+50%2022: $529.0M$529.0M2022−46%2023: $481.0M$481.0M2023−9%2024: $742.0M$742.0M2024+54%2025: $700.0M$700.0M2025−6%
Net income91011128$419.0M in 2025−23% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $544.0M$544.0M20192020: $504.0M$504.0M2020−7%2021: $837.0M$837.0M2021+66%2022: $463.0M$463.0M2022−45%2023: $296.0M$296.0M2023−36%2024: $528.0M$528.0M2024+78%2025: $419.0M$419.0M2025−21%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Total Net sales$5.4B$5.0B$4.6B
Total Cost of sales$2.8B$2.6B$2.5B
Gross profit$2.6B$2.4B$2.1B
Selling and marketing$653.0M$600.0M$581.0M
Research and development$593.0M$563.0M$519.0M
General and administrative$433.0M$381.0M$334.0M
Amortization of intangible assets$114.0M$104.0M$104.0M
Acquisition and integration costs$24.0M$6.0M$6.0M
Exit and restructuring costs$76.0M$17.0M$98.0M
Total Operating expenses$1.9B$1.7B$1.6B
Operating income$700.0M$742.0M$481.0M
Foreign exchange (loss) gain-$18.0M$5.0M-$2.0M
Interest expense, net-$108.0M-$98.0M-$133.0M
Other expense, net-$14.0M-$14.0M-$12.0M
Total Other expense, net-$140.0M-$107.0M-$147.0M
Income before income tax$560.0M$635.0M$334.0M
Income tax expense$141.0M$107.0M$38.0M
Net income$419.0M$528.0M$296.0M
Basic earnings per share (in USD per share)$8.24$10.25$5.75
Diluted earnings per share (in USD per share)$8.18$10.18$5.72

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The story

20th century

Zebra was incorporated in 1969 as Data Specialties Incorporated, a manufacturer of high-speed electromechanical products. The company changed its focus to specialty on-demand labeling and ticketing systems in 1982 and became Zebra Technologies Corporation in 1986. Zebra became a publicly traded company on the NASDAQ stock exchange in 1991.

In 1986, Zebra (then Data Specialties Incorporated) acquired Qwint Systems.

In 1998, Zebra Technologies merged with Eltron International, Inc.

21st century

In 2000, Comtec Information Systems was acquired by Zebra Technologies, followed in 2003 by the acquisition of Atlantek, Inc., which was a manufacturer of photo ID printers.

In 2004, the company expanded into RFID smart label manufacturing. In the following years, Zebra also acquired Swecoin, WhereNet Corp, Proveo AG, and Navis Holdings (later divested in 2011).

The company bought the Enterprise Solutions Group (ESG) in 2008 and renamed the group Zebra Enterprise Solutions in 2009. In the same year, Multispectral Solutions, Inc. was acquired. In 2012, the companies LaserBand, and StepOne Systems were purchased with a cash price of $1.5 million.

In 2013, the company acquired Hart Systems for $94 million in cash from the private equity firm Topspin Partners LBO.

In 2014, Zebra acquired Motorola Solutions' Enterprise Division in a $3.45 billion transaction, providing mobile computing and advanced data capture communications technologies and services. Zebra's acquisition of the Enterprise Division included the Symbol Technologies and Psion product lines. Also in 2014, Zebra provided its real-time location system (RTLS) in NFL stadiums to track players and officials and provide location-based data for the NFL's Next Gen Stats program. Zebra’s partnership with the NFL extends through the 2025 football season.

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In 2018, the company acquired Xplore Technologies, a maker of ruggedized tablets and other hard-wearing hardware.

In 2019, Zebra acquired Temptime Corporation, a provider of temperature monitoring devices to the healthcare industry. That same year, Zebra also acquired Profitect, a retail software company that developed a product line used for tracking and identifying inventory losses.

In 2020, Zebra acquired Reflexis Systems, a provider of workforce scheduling and task management software to the retail, food service, hospitality, and banking industries for $575 Million.

In 2021, Zebra acquired Adaptive Vision (provider of graphical Machine Vision software), Fetch Robotics (manufacturer of autonomous mobile robots) and Antuit.ai (provider of AI-powered SaaS solutions specific to forecasting and merchandising for the retail and CPG industries).

In 2022, Zebra acquired Matrox Imaging, a developer of machine vision components and systems.

In December 2023, Zebra partnered with Verizon Business to create a software package that will allow for a faster private 5G network. Zebra tablets and computers will work on Verizon's private network, allowing for more network capacity and fast communication.

In 2023, Zebra unveiled Zebra Workcloud - its purpose-built suite of enterprise software applications, primarily serving in retail, banking and healthcare industries. Zebra also introduced the WS50 powered by Workcloud, the first wearable Android touch computer.

In August 2025, Zebra announced a $1.3 billion all-cash acquisition of Elo Touch Solutions, a touch screen technology maker.

From Wikipedia’s article on Zebra Technologies, shared under CC BY-SA 4.0.6

Products and brands

  • barcode reader
  • printer

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

  1. 2014Acquired Symbol Technologies1

Former names

  • ZEBRA TECHNOLOGIES CORP/DESep 8, 1995 to May 5, 20095

Timeline

  1. 1969Founded Founded1

Recent filings

  1. Aug 11, 20264
  2. Aug 11, 20264
  3. Aug 10, 2026144
  4. Aug 7, 2026144
  5. Aug 5, 20264
  6. Aug 4, 20268-K
  7. Aug 4, 2026SCHEDULE 13G
  8. Aug 4, 202610-Q
  9. May 29, 2026S-8
  10. May 28, 20264
  11. May 27, 2026SD
  12. May 26, 20268-K
  13. May 26, 2026144
  14. May 21, 20264
  15. May 21, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2