A Dark Vector Cognition product

Cover and table of contents

11K characters. Original on sec.gov · Markdown

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 June 29, 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 July 23, 2024, there were 51,580,365 shares of Class A Common Stock, $.01 par value, outstanding.

ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES

QUARTER ENDED JUNE 29, 2024

TABLE OF CONTENTS

PAGE
PART I - FINANCIAL INFORMATION3
Item 1.Consolidated Financial Statements3
Consolidated Balance Sheets as of June 29, 2024 (unaudited) and December 31, 20233
Consolidated Statements of Operations (unaudited) for the three and six months ended June 29, 2024 and July 1, 20234
Consolidated Statements of Comprehensive Income (unaudited) for the three and six months ended June 29, 2024 and July 1, 20235
Consolidated Statements of Stockholders’ Equity (unaudited) for the three and six months ended June 29, 2024 and July 1, 20236
Consolidated Statements of Cash Flows (unaudited) for the six months ended June 29, 2024 and July 1, 20238
Notes to Consolidated Financial Statements (unaudited)8
Note 1: Description of Business and Basis of Presentation9
Note 2: Significant Accounting Policies9
Note 3: Revenues10
Note 4: Inventories11
Note 5: Investments11
Note 6: Exit and Restructuring Costs11
Note 7: Fair Value Measurements11
Note 8: Derivative Instruments13
Note 9: Long-Term Debt15
Note 10: Leases17
Note 11: Accrued Liabilities, Commitments and Contingencies17
Note 12: Share-Based Compensation18
Note 13: Income Taxes20
Note 14: Earnings Per Share20
Note 15: Accumulated Other Comprehensive (Loss) Income21
Note 16: Accounts Receivable Factoring21
Note 17: Segment Information & Geographic Data22
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations23
Overview23
Results of Operations24
Results of Operations by Segment27
Liquidity and Capital Resources29
Significant Customers31
Safe Harbor32
New Accounting Pronouncements32
Non-GAAP Measures32
Item 3.Quantitative and Qualitative Disclosures About Market Risk33
Item 4.Controls and Procedures33
Item 5.Other Information37
PART II - OTHER INFORMATION34
Item 1.Legal Proceedings34
Item 1A.Risk Factors35
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds37
Item 6.Exhibits38
Signatures39

PART I - FINANCIAL INFORMATION

Next: Item 1. Consolidated Financial Statements