Filing Flows › Zebra Technologies (ZBRA) › Q3 2026 › vs Q2 2026
Zebra Technologies (ZBRA) Q3 2026 vs Q2 2026 (quarter over quarter)
Zebra Technologies's revenue rose $57.0M (+4%) from $1.6B in Q2 2026 to $1.6B in Q3 2026. The biggest changes: Tangible Products +$54.0M (+4%); Services and Software +$3.0M (+1%). Gross margin 45.7% against 53.0% (-7.3 pts).
Zebra Technologies, Q3 2026: revenue $1.6B (+22% year over year), operating margin 14.7%, net earnings $164M, operating cash flow $324M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 45.7% | 53.0% | -7.3 pts |
| Operating margin | 14.7% | 20.6% | -5.9 pts |
| Net margin | 10.2% | 15.0% | -4.8 pts |
| Free cash flow margin | 18.6% | 12.7% | +5.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Tangible Products | $1.4B | $1.3B | $54.0M | +4% |
| Services and Software | $244M | $241M | $3.0M | +1% |
| Revenue | $1.6B | $1.6B | $57.0M | +4% |
| Gross profit | $738M | $825M | −$87.0M | -11% |
| Cost of revenue | $876M | $732M | $144M | +20% |
| Operating profit | $237M | $321M | −$84.0M | -26% |
| Operating expenses | $501M | $504M | −$3.0M | -0.6% |
| Pre-tax earnings | $198M | $285M | −$87.0M | -31% |
| Other expense, net | $39.0M | $36.0M | $3.0M | +8% |
| Research & development | $158M | $159M | −$1.0M | -0.6% |
| Sales & marketing | $183M | $184M | −$1.0M | -0.5% |
| General & admin | $122M | $114M | $8.0M | +7% |
| Other operating costs | $38.0M | $47.0M | −$9.0M | -19% |
| Net earnings | $164M | $233M | −$69.0M | -30% |
| Income tax | $34.0M | $52.0M | −$18.0M | -35% |
| Depreciation & amortization | $57.0M | $57.0M | $0 | 0% |
| Share-based compensation | $42.0M | $36.0M | $6.0M | +17% |
| Working capital & other | $61.0M | −$115M | $176M | — |
| Operating cash flow | $324M | $211M | $113M | +54% |
| Free cash flow (OCF − capex) | $300M | $198M | $102M | +52% |
| Capital expenditures | $24.0M | $13.0M | $11.0M | +85% |
Questions
How much did Zebra Technologies's revenue grow quarter over quarter in Q3 2026?
Zebra Technologies's revenue rose $57.0M (+4%) from $1.6B in Q2 2026 to $1.6B in Q3 2026.
What drove Zebra Technologies's revenue change in Q3 2026?
Tangible Products +$54.0M (+4%); Services and Software +$3.0M (+1%).