Zebra Technologies Q3 2024 Filing Released

TL;DR

Zebra Tech's Q3 2024 10-Q is in. Check financials for Tangible Products & Service/Software segments.

AI Summary

Zebra Technologies Corp. reported its Q3 2024 results for the period ending September 28, 2024. The company's filing details financial performance across its Tangible Products and Service & Software segments, with specific dates and financial data points available within the report.

Why It Matters

This 10-Q filing provides investors and analysts with the latest financial performance data for Zebra Technologies, crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: medium — Quarterly reports can reveal shifts in financial performance, operational challenges, or new risks that may impact a company's stock price.

Key Numbers

• 2024-09-28 — Report End Date (Indicates the end of the reporting period for this 10-Q.)
• 2024-10-29 — Filing Date (The date the report was officially submitted to the SEC.)
• 2024-01-01 — Reporting Period Start Date (Marks the beginning of the fiscal year for the reported period.)
• 2023-09-30 — Prior Year Q3 End Date (Provides a comparative point for the same quarter in the previous year.)
• 2023-01-01 — Prior Year Period Start Date (Marks the beginning of the fiscal year for the comparative period.)

Key Players & Entities

• ZEBRA TECHNOLOGIES CORP (company) — Filer
• 0000877212 (company) — Central Index Key
• 20240928 (date) — Period of Report
• 20241029 (date) — Filing Date
• 3 OVERLOOK POINT (location) — Business Address
• LINCOLNSHIRE (location) — Business Address City
• IL (location) — Business Address State
• 60069 (location) — Business Address Zip
• 847-634-6700 (phone_number) — Business Phone

FAQ

Filing Documents

• zbra-20240928.htm (10-Q) — 1315KB
• ex311-signedq32024.htm (EX-31.1) — 9KB
• ex312-signedq32024.htm (EX-31.2) — 9KB
• ex321-signedq32024.htm (EX-32.1) — 4KB
• ex322-signedq32024.htm (EX-32.2) — 4KB
• 0000877212-24-000164.txt ( ) — 6640KB
• zbra-20240928.xsd (EX-101.SCH) — 40KB
• zbra-20240928_cal.xml (EX-101.CAL) — 81KB
• zbra-20240928_def.xml (EX-101.DEF) — 171KB
• zbra-20240928_lab.xml (EX-101.LAB) — 545KB
• zbra-20240928_pre.xml (EX-101.PRE) — 388KB
• zbra-20240928_htm.xml (XML) — 948KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 3 Consolidated Balance Sheets as of September 28, 2024 (unaudited) and December 31, 2023 3 Consolidated Statements of Operations (unaudited) for the three and nine months ended September 28, 2024 and September 30, 2023 4 Consolidated Statements of Comprehensive Income (unaudited) for the three and nine months ended September 28, 2024 and September 30, 2023 5 Consolidated Statements of Stockholders' Equity (unaudited) for the three and nine months ended September 28, 2024 and September 30, 2023 6 Consolidated Statements of Cash Flows (unaudited) for the nine months ended September 28, 2024 and September 30, 2023 8

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 8 Note 1: Description of Business and Basis of Presentation 9 Note 2: Significant Accounting Policies 9 Note 3: Revenues 10 Note 4: Inventories 11 Note 5: Investments 11 Note 6: Exit and Restructuring Costs 11 Note 7: Fair Value Measurements 11 Note 8: Derivative Instruments 13 Note 9: Long-Term Debt 15 Note 10: Leases 17 Note 11: Accrued Liabilities, Commitments and Contingencies 17 Note 12: Income Taxes 18 Note 13: Earnings (Loss) Per Share 18 Note 14: Accumulated Other Comprehensive (Loss) Income 19 Note 15: Accounts Receivable Factoring 19 Note 16: Segment Information & Geographic Data 20

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Overview 21 Results of Operations 22 Results of Operations by Segment 24 Liquidity and Capital Resources 26 Significant Customers 29 Safe Harbor 29 New Accounting Pronouncements 30 Non-GAAP Measures 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

Other Information

Item 5. Other Information 34

- OTHER INFORMATION

PART II - OTHER INFORMATION 31

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Exhibits

Item 6. Exhibits 35

Signatures

Signatures 36 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except share data) September 28, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 676 $ 137 Accounts receivable, net of allowances for doubtful accounts of $ 1 each as of September 28, 2024 and December 31, 2023 642 521 Inventories, net 639 804 Income tax receivable 67 63 Prepaid expenses and other current assets 109 147 Total Current assets 2,133 1,672 Property, plant and equipment, net 302 309 Right-of-use lease assets 173 169 Goodwill 3,895 3,895 Other intangibles, net 447 527 Deferred income taxes 501 438 Other long-term assets 239 296 Total Assets $ 7,690 $ 7,306 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ 89 $ 173 Accounts payable 533 456 Accrued liabilities 490 504 Deferred revenue 432 458 Income taxes payable 18 7 Total Current liabilities 1,562 1,598 Long-term debt 2,080 2,047 Long-term lease liabilities 162 152 Deferred income taxes 66 67 Long-term deferred revenue 304 312 Other long-term liabilities 95 94 Total Liabilities 4,269 4,270 Stockholders' Equity: Preferred stock, $ .01 par value; authorized 10,000,000 shares; none issued — — Class A common stock, $ .01 par value; authorized 150,000,000 shares; issued 72,151,857 shares 1 1 Additional paid-in capital 653 615 Treasury stock at cost, 20,609,801 and 20,772,995 shares as of September 28, 2024 and December 31, 2023, respectively ( 1,871 ) ( 1,858 ) Retained earnings 4,697 4,332 Accumulated other comprehensive loss ( 59 ) ( 54 ) Total Stockholders' Equity 3,421 3,036 Total Liabilities and Stockholders' Equity $ 7,690 $ 7,306 See accompanying Notes to Consolidated Financial Statements. 3 Table of Contents ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share data) (Unaudite

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 1 Description of Business and Basis of Presentation Zebra Technologies Corporation and its subsidiaries ("Zebra" or the "Company") is a global leader providing innovative Enterprise Asset Intelligence ("EAI") solutions in the automatic identification and data capture solutions industry. We design, manufacture, and sell a broad range of products and solutions, including cloud-based software subscriptions, that capture and move data. We also provide a full range of services, including maintenance, technical support, repair, managed and professional services. End-users of our products, solutions and services include those in retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries. We provide our products, solutions and services globally through a direct sales force and an extensive network of channel partners. Management prepared these unaudited interim consolidated financial statements according to the rules and regulations of the Securities and Exchange Commission for interim financial information and notes. As permitted under Article 10 of Regulation S-X and the instructions of Form 10-Q, these consolidated financial statements do not include all the information and notes required by United States Generally Accepted Accounting Principles ("GAAP") for complete financial statements, although management believes that the disclosures made are adequate to make the information not misleading. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Annual Report on Form 10-K for the fiscal year ended December 31, 2023. In the opinion of the Company, these interim financial statements include all adjustments (of a normal, recurring nature) necessary to fairly present its Consolidated Balance Sheet as of September 28, 2024, the Consolidated Statements of Operations

View Full Filing

View this 10-Q filing on SEC EDGAR