Filing Flows › Zebra Technologies (ZBRA) › Q1 2026
Zebra Technologies (ZBRA) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
Zebra Technologies (ZBRA) reported revenue of $1.5B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +1% from the quarter before. Operating margin was 14.4%, net earnings $135M (9.0% of revenue).
Zebra Technologies, Q1 2026: revenue $1.5B (+14% year over year), operating margin 14.4%, net earnings $135M, operating cash flow $176M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | +1% | +14% |
| Gross profit | $742M | +6% | +15% |
| Operating profit | $215M | +55% | +10% |
| Net earnings | $135M | +93% | -0.7% |
| Operating cash flow | $176M | -51% | -1% |
| Free cash flow | $163M | — | +3% |
What changed
Revenue was $1.5B in Q1 2026, up 14% year over year and up 1% from the previous quarter. Tangible Products was the largest line at 82% of revenue. Tangible Products added $0.17B year over year (up 16%), 90% of the total change.
Gross margin was 49.6%, up 0.3 points from Q1 2025. Operating profit was $0.21B, a 14.4% margin (down 0.5 points year over year). Of the extra revenue versus Q1 2025, 11% reached operating profit, below the 15% margin then. Operating expenses grew 17% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+70%). Net earnings were $0.14B, down 1% year over year. The effective tax rate was 19.2%.
Operating cash flow was $0.18B (down 1% year over year), 130% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.07B. After purchases of property, plant and equipment ($0.01B), free cash flow as the company reports it was $0.16B.
Questions
What was Zebra Technologies' revenue in the first quarter 2026?
Zebra Technologies (ZBRA) reported revenue of $1.5B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +1% from the quarter before.
Was Zebra Technologies profitable in the first quarter 2026?
Operating profit was $215M (14.4% of revenue) and net earnings $135M.
Source: Zebra Technologies 10-Q on SEC EDGAR.