A Dark Vector Cognition product

Cover and table of contents

10K characters. Original on sec.gov ·

Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 30, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to

Commission File Number: 000-19406

Zebra Technologies Corporation

(Exact name of registrant as specified in its charter)

Delaware36-2675536
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

3 Overlook Point, Lincolnshire, IL 60069

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (847) 634-6700

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of exchange on which registered
Class A Common Stock, par value $.01 per shareZBRAThe NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of April 23, 2024, there were 51,419,403 shares of Class A Common Stock, $.01 par value, outstanding.

ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES

QUARTER ENDED MARCH 30, 2024

TABLE OF CONTENTS

PAGE
PART I - FINANCIAL INFORMATION3
Item 1.Consolidated Financial Statements3
Consolidated Balance Sheets as of March 30, 2024 (unaudited) and December 31, 20233
Consolidated Statements of Operations (unaudited) for the three months ended March 30, 2024 and April 1, 20234
Consolidated Statements of Comprehensive Income (unaudited) for the three months ended March 30, 2024 and April 1, 20235
Consolidated Statements of Stockholders’ Equity (unaudited) for the three months ended March 30, 2024 and April 1, 20236
Consolidated Statements of Cash Flows (unaudited) for the three months ended March 30, 2024 and April 1, 20237
Notes to Consolidated Financial Statements (unaudited)7
Note 1: Description of Business and Basis of Presentation8
Note 2: Significant Accounting Policies8
Note 3: Revenues8
Note 4: Inventories9
Note 5: Investments9
Note 6: Exit and Restructuring Costs9
Note 7: Fair Value Measurements10
Note 8: Derivative Instruments11
Note 9: Long-Term Debt13
Note 10: Leases14
Note 11: Accrued Liabilities, Commitments and Contingencies15
Note 12: Income Taxes15
Note 13: Earnings Per Share16
Note 14: Accumulated Other Comprehensive (Loss) Income16
Note 15: Accounts Receivable Factoring17
Note 16: Segment Information & Geographic Data17
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations18
Overview18
Results of Operations20
Results of Operations by Segment22
Liquidity and Capital Resources23
Significant Customers25
Safe Harbor26
New Accounting Pronouncements26
Non-GAAP Measures26
Item 3.Quantitative and Qualitative Disclosures About Market Risk27
Item 4.Controls and Procedures27
Item 5.Other Information28
PART II - OTHER INFORMATION28
Item 1.Legal Proceedings28
Item 1A.Risk Factors28
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds28
Item 6.Exhibits29
Signatures30

PART I - FINANCIAL INFORMATION

Next: Item 1. Consolidated Financial Statements