Filing Flows › Zebra Technologies (ZBRA) › Q4 2025
Zebra Technologies (ZBRA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
Zebra Technologies (ZBRA) reported revenue of $1.5B for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +12% from the quarter before. Operating margin was 9.4%, net earnings $70.0M (4.7% of revenue).
Zebra Technologies, Q4 2025: revenue $1.5B (+11% year over year), operating margin 9.4%, net earnings $70.0M, operating cash flow $357M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | +12% | +11% |
| Gross profit | $698M | +10% | +8% |
| Operating profit | $139M | -24% | -38% |
| Net earnings | $70.0M | -31% | -57% |
| Operating cash flow | $357M | +52% | +17% |
| Free cash flow | $327M | +51% | +14% |
What changed
Revenue was $1.5B in Q4 2025, up 11% year over year and up 12% from the previous quarter. Tangible Products was the largest line at 83% of revenue.
Gross margin was 47.3%, down 1.3 points from a year earlier. Operating profit was $0.14B, a 9.4% margin (down 7.4 points year over year). Operating profit fell $0.09B even though revenue rose $0.14B versus a year earlier, so costs grew faster than sales. Operating expenses grew 32% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+356%). Net earnings were $0.07B, down 57% year over year. The effective tax rate was 28.6%.
Operating cash flow was $0.36B (up 17% year over year), 510% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.20B. Capital expenditures of $0.03B left free cash flow of $0.33B.
Questions
What was Zebra Technologies' revenue in the fourth quarter 2025?
Zebra Technologies (ZBRA) reported revenue of $1.5B for the fourth quarter 2025 (Q4 2025), +11% from a year earlier and +12% from the quarter before.
Was Zebra Technologies profitable in the fourth quarter 2025?
Operating profit was $139M (9.4% of revenue) and net earnings $70.0M.
Source: Zebra Technologies 10-K on SEC EDGAR.