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Zebra Technologies (ZBRA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Zebra Technologies (ZBRA) reported revenue of $1.6B for the third quarter 2026 (Q3 2026), +22% from a year earlier and +4% from the quarter before. Operating margin was 14.7%, net earnings $164M (10.2% of revenue).
Zebra Technologies, Q3 2026: revenue $1.6B (+22% year over year), operating margin 14.7%, net earnings $164M, operating cash flow $324M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +4% | +22% |
| Gross profit | $738M | -11% | +16% |
| Operating profit | $237M | -26% | +30% |
| Net earnings | $164M | -30% | +62% |
| Operating cash flow | $324M | +54% | +38% |
| Free cash flow | $300M | +52% | +39% |
What changed
Revenue was $1.6B in Q3 2026, up 22% year over year and up 4% from the previous quarter. Tangible Products was the largest line at 85% of revenue. Tangible Products added $0.29B year over year (up 27%), 98% of the total change.
Gross margin was 45.7%, down 2.3 points from Q3 2025. Operating profit was $0.24B, a 14.7% margin (up 0.8 points year over year). Of the extra revenue versus Q3 2025, 18% reached operating profit, above the 14% margin then. Operating expenses grew 11% against revenue growth of 22%. The fastest-growing cost line was Sales & marketing (+15%). Net earnings were $0.16B, up 62% year over year. The effective tax rate was 17.2%.
Operating cash flow was $0.32B (up 38% year over year), 198% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.06B. Capital expenditures of $0.02B left free cash flow of $0.30B.
Questions
What was Zebra Technologies' revenue in the third quarter 2026?
Zebra Technologies (ZBRA) reported revenue of $1.6B for the third quarter 2026 (Q3 2026), +22% from a year earlier and +4% from the quarter before.
Was Zebra Technologies profitable in the third quarter 2026?
Operating profit was $237M (14.7% of revenue) and net earnings $164M.
Source: Zebra Technologies 10-Q on SEC EDGAR.