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ZBRA · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 20.4% y/y to $1.56B, operating margin 20.6% vs 14.2%, net income $233M (+108.0% y/y).
Net income
$233M
up 108% y/y
Total Net sales
$1,557M
up 20.4% y/y
Operating income
$321M
up 75.4% y/y
Gross profit
$825M
up 33.9% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Tangible products | $1,316 · +24.7% |
| Services and software | $241 · +1.3% |
| Total Net sales | $1,557 · +20.4% |
| Total Cost of sales | $732 · +8.1% |
| Gross profit | $825 · +33.9% · 53.0% margin |
| Selling and marketing | $184 · +16.5% |
| Research and development | $159 · +10.4% |
| General and administrative | $114 · +11.8% |
| Amortization of intangible assets | $37 · +48.0% |
| Acquisition and integration costs | $2 · −50.0% |
| Exit and restructuring costs | $8 · vs $0 |
| Operating income | $321 · +75.4% · 20.6% margin |
| Foreign exchange loss | $2 · −81.8% |
| Interest expense, net | $35 · +40.0% |
| Other income (expense), net | $1 · vs −$9 |
| Income before income tax | $285 · +107% |
| Income tax expense | $52 · +100% · 18.2% effective rate |
| Net income | $233 · +108% · $4.85/sh · 15.0% margin |
Verdict: revenue grew 20.4% y/y to $1.56B, operating margin 20.6% vs 14.2%, net income $233M (+108.0% y/y).
Share repurchases were $268 million, and IEEPA tariff recoveries were $73 million.
Source and notation
Source: Zebra Technologies press release, 8-K EX-99.1 of 08/04/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open as an image: ZBRA, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “ZBRA Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/zbra/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/zbra/q2-2026"><img src="https://whoreportstoday.com/t/zbra/q2-2026/sankey.png" alt="ZBRA Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/zbra/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
https://whoreportstoday.com/t/zbra/q2-2026/sankey.png
<a href="https://whoreportstoday.com/t/zbra/q2-2026">ZBRA Q2 2026 earnings chart (Who Reports Today)</a>
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- Net sales rose 20.4% year over year, and adjusted EBITDA was $431 million.
- Gross margin was 53.0% vs 47.6% a year earlier.
- Operating income was $321M, a 20.6% margin vs 14.2% a year earlier.
- The effective tax rate was 18.2% vs 18.8% a year earlier.
- Diluted EPS was $4.85 vs $2.19 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
ZBRA — a company that makes devices and software for automatic identification and data capture: mobile computers, barcode scanners, RFID readers, label and card printers, machine vision, supplies, services and cloud software for retailers, manufacturers, logistics firms and hospitals.
It earns money in two segments: Connected Frontline (mobile computing) and Asset Visibility and Automation (printing, RFID, scanning and machine vision). · Source: annual report (Form 10-K, SEC)
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