Filing Flows › Zebra Technologies (ZBRA) › Q3 2025
Zebra Technologies (ZBRA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Zebra Technologies (ZBRA) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), +5% from a year earlier and +2% from the quarter before. Operating margin was 13.9%, net earnings $101M (7.7% of revenue).
Zebra Technologies, Q3 2025: revenue $1.3B (+5% year over year), operating margin 13.9%, net earnings $101M, operating cash flow $235M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +2% | +5% |
| Gross profit | $634M | +3% | +3% |
| Operating profit | $183M | 0% | -4% |
| Net earnings | $101M | -10% | -26% |
| Operating cash flow | $235M | +60% | -20% |
| Free cash flow | $216M | +66% | -22% |
What changed
Revenue was $1.3B in Q3 2025, up 5% year over year and up 2% from the previous quarter. Tangible Products was the largest line at 82% of revenue. Tangible Products added $0.06B year over year (up 6%), 95% of the total change.
Gross margin was 48.0%, down 0.8 points from a year earlier. Operating profit was $0.18B, a 13.9% margin (down 1.4 points year over year). Operating profit fell $0.01B even though revenue rose $0.07B versus a year earlier, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 5%. The fastest-growing cost line was General & admin (+16%). Net earnings were $0.10B, down 26% year over year. The effective tax rate was 36.5%.
Operating cash flow was $0.23B (down 20% year over year), 233% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.04B. Capital expenditures of $0.02B left free cash flow of $0.22B.
Questions
What was Zebra Technologies' revenue in the third quarter 2025?
Zebra Technologies (ZBRA) reported revenue of $1.3B for the third quarter 2025 (Q3 2025), +5% from a year earlier and +2% from the quarter before.
Was Zebra Technologies profitable in the third quarter 2025?
Operating profit was $183M (13.9% of revenue) and net earnings $101M.
Source: Zebra Technologies 10-Q on SEC EDGAR.