Motorola Solutions, Inc. · NYSE:MSI
Motorola Solutions — Investor Presentation (August 2025)
53 slides from Motorola Solutions's investor presentation, August 2025
Slide 1: Investor Overview
Investor Overview August 2025 ● Investment thesis ● Total addressable market ● Who we serve ● Segments and technologies ● Financials ● Capital allocation
Slide 2: Solving for safer
Solving for safer We build and connect technologies to help protect 36% people, property & places. of 2024 revenue from Software & Services, a proxy for ARR Video Security & Mission Critical Command 17% CAGR Access Control Networks* Center Non-GAAP EPS growth since 2015 5M+ 13K 3.6K of 6K fixed video
Slide 3: Segments & Technologies
Segments & Technologies 2024 Annual Revenue Products & Software & Systems Integration Services Segment Segment (primarily recurring) MCN Products MCN Services and Integration Command Center Video Security & Mission Critical Command Video Products Video Software Access Control Networks Center $6.9B $
Slide 4: A technology ecosystem for public safety and enterprise security with $81B TAM
A technology ecosystem for public safety and enterprise security with $81B TAM* Video Security & Access Control Mission Critical Networks Command Center Our video security and access control Our critical communications devices and networks Our command center technologies can bring systems, powered b
Slide 5: Investment thesis
Investment thesis Revenue growth Cash flow generation ● Nearly half of revenue now Video, software, and ● Durable cash flows driven by recurring and recurring Services reoccurring revenue ● Cloud and SaaS revenue growing rapidly ● 152% growth in annual free cash flow since 2015 ● Increased demand for s
Slide 6: Who we serve
Public Safety Who we serve We enable the collaboration between public EMERGENCY POLICE FIRE MEDICAL safety agencies and enterprises for a proactive approach to safety and security. NATIONAL PUBLIC CRITICAL SECURITY SERVICES EDUCATION INFRASTRUCTURE $10.8B ~70% of revenue 2024 Annual Revenue Enterpri
Slide 7: Revenue by Geographic Region
Revenue by Region International Geographic $10.8B* of Revenue $3.0B of Revenue Region 2024 Annual Revenue 72% 28% ● North America ● EMEA/Australia & NZ ● International ● Other * China revenues represent <1% of 2024 Annual Revenue
Slide 8: Revenue Who we serve
Revenue 2024 Public Safety Who we serve $10.8B of Revenue ~70% of Revenue 2024 Annual Revenue 12% ~30% ~70% 62% 26% ● Public Safety ● North America state and local ● Enterprise ● U.S. federal agencies ● International public safety
Slide 9: Ongoing Portfolio Transformation
Ongoing 2015 2024 Portfolio $5.7B of Revenue $10.8B of Revenue Transformation Nearly half of revenue now video, software and recurring services Total Addressable Market Total Addressable Market ~$13B ~$81B* ● Mission Critical Networks Products and Systems Integration ● Services, Command Center, Vide
Slide 10: Strong backlog
Strong backlog ($B) Backlog growth drivers ● Multi-year service agreements ● Cloud adoption ● SaaS and applications ● Software & Services ● Products & SI
Slide 11: Strong Financial Track Record
Strong +10% Y/Y +8% Y/Y +8% +10% Y/Y +5% Y/Y Y/Y Financial +13% +12% Y/Y Y/Y +9% +10% +14% Y/Y +7% Y/Y Y/Y Y/Y (6%) +20% Track Record +15% Y/Y Y/Y Y/Y +14% +6% +41% Y/Y Y/Y +6% Y/Y Y/Y Summary Total Revenue Growth ($B) Software & Services Segment Revenue Growth* ($B) ● Consistent compounded revenue
Slide 12: 2025 Guidance
2025 Guidance August 7, 2025 FY guidance ~$11.65 $14.88 ~$2.75 $13.84 -$14.98 $2.4 ● Revenue of approx. $10.8 $11.65B or up ~7.7% ● Non-GAAP EPS $14.88 - $14.98 ● $2.75B of Operating E E E Cash Flow or up ~15% Total Revenue ($B) Non-GAAP EPS Operating Cash Flow ($B)
Slide 13: Capital allocation framework drives shareholder value
Capital allocation framework drives shareholder value Based on operating cash flow Capex Asset light model Share repurchases or acquisitions ~$8.5B* of share repurchases, retiring 23% of share float at average cost of Annual Dividend $101.34 since 2015** Double digit annual ~$11B*** increases since 20
Slide 14: Accretive Acquisitions
Accretive ~$11B invested since 2015* Acquisitions Video Security & Access Control Command Center Mission Critical Networks Estimated 2025 2018 2015 2016 2016 contribution 2019 2019 2017 2017 2018 ~$3.4B Revenue 2020 2020 2019 Double-digit 2020 2021 Growth rate 2021 2021 2022 ~20% 2022 2022 2022 2024
Slide 15: Video Security & Access Control
Video Security & Access Control Our video security and access control systems, powered by AI, can alert you when action is needed, focusing human attention to help cover more ground and act with more certainty.
Slide 16: Video Security & Access Control: Current environment, Our approach
Video Security & Access Control Current environment Our approach ● 5M+ fixed cameras across More than just cameras and footage, our video 300k+ installations solutions combine computer vision with AI, helping to recognize what’s important and what’s not. ● Less than 20% of events are detected after t
Slide 17: Fixed video security, access control and related products
Video Security & Access Control Fixed video Access control In-car Body License plate security management video systems cameras analytics Embedded AI locates Video, biometrics, In-car video combines Radios automate Patented analytics help persons or vehicles, weapons detection, with body-worn and cam
Slide 18: Video Security & Access Control Portfolio
Video Security & Access Control Portfolio Fixed Video & Mobile Video Access Control ● Body cameras ● Avigilon Unity on-prem suite ● In-car cameras $1.9B ~30% ● Avigilon Alta cloud suite ● License plate recognition 2024 Revenue ● Specialized cameras solutions and services ~70% ● AI-powered analytics
Slide 19: ~50% of total video sales in government & public safety, education and healthcare
~50% of total video sales in government & public safety, education and healthcare ● Gov’t & Public Safety ● Financial Services ● Education ● Manufacturing ● Healthcare ● Commercial Buildings $1.9 Billion 2024 ● Retail Video Revenue ● Utilities ● Entertainment ● Transportation ● Hospitality
Slide 20: SVX with Assist
SVX with Assist Features ● Enhances APX NEXT family with advanced AI capabilities through an integrated body-worn camera ● Provides secure, P25 superior audio that significantly improves AI experience and evidence capture ● Streamlines operations and improves user experience through a converged speak
Slide 21: Video Security & Access Control: Growth and Monetization
Video Security & Access Control Growth and Monetization Gaining share in video security ● $1.9B+ in sales growing double digits in $37B TAM ● 5M+ fixed video cameras deployed across 300K+ sites ● 90% of our fixed video camera portfolio has embedded AI capabilities ● Broad on-prem and cloud fixed video
Slide 22: Mission Critical Networks
Mission Critical Networks Our critical communications devices and networks are designed for the harshest conditions, helping you stay connected and communicate with clarity when it matters most - from everyday routines to a crisis unfolding.
Slide 23: Mission Critical Networks: Current environment, Our approach
Mission Critical Networks Current environment Our approach ● When disaster strikes, cellular networks can Secure and resilient communications through LMR fail or get overloaded - Hurricanes Helene and and Mobile ad-hoc networks “MANET” to unify Milton, Los Angeles wildfires voice and multimedia colla
Slide 24: Public safety, Enterprise, Defense, Software & services
Mission Critical Networks Public safety Enterprise Defense Software & services P25 and TETRA highly survivable PCR networks and devices MANET secure data, video and Strong adoption for managed networks and devices, total protect sensitive communications voice communications without services, softwar
Slide 25: LMR Portfolio
LMR Portfolio 2024 $8.1B of LMR Revenue* Majority of LMR revenue driven by recurring services and multi-year public safety device refresh cycles Public Safety Devices Services and Software ● Critical networks with expanded ● Multi-year refresh cycles across scope and new value-added services thousan
Slide 26: Silvus overview
Silvus overview ● Adds high-speed mobile ad-hoc network (“MANET”) technology to Motorola Solutions' safety and security ecosystem that enables highly secure data, video and voice communications without the need for fixed infrastructure ● Rapid customer adoption for drone and unmanned systems communic
Slide 27: Silvus use cases
Silvus use cases Unmanned Systems U.S. Department of Defense International Defense Connects unmanned aerial, ground and Provides a rapidly deployable battlefield mesh Silvus StreamCaster devices and software naval systems for U.S., NATO and other data network for command and control suite are proven
Slide 28: Mission Critical Networks: Growth and Monetization
Mission Critical Networks Growth and Monetization A global leader in critical communications ● 13k+ LMR networks globally, 50+ nationwide & statewide systems ● Networks monetized with recurring services and devices replaced every 6-8 years f ● Multi-year services agreements shifting to higher margin
Slide 29: Command Center
Command Center Our command center technologies can bring voice, video and data into a single view to help simplify workflows and provide the overarching perspective to make decisions with greater focus, accuracy and speed.
Slide 30: Command Center: Current environment, Our approach
Command Center Current environment Our approach ● ~3.6K out of 6K 911 centers in the U.S. use Software solutions that support the complex our software solutions. process of the public safety workflow from "911 call to case closure." ● 10k more lives could be saved each year if 911 could get to caller
Slide 31: Detection, Response, Resolution
Command Center Detection Response Resolution Community tipping, mass notification, panic Dispatch & coordination, real-time intelligence & Centralized records, evidence buttons and 911 call handling & routing collaboration, field reporting and broadband management and investigative tools enabled solut
Slide 32: Command Center
Command Center 911 call handling & routing Collaborative workflow applications ● Cloud-native, on-prem and hybrid ● CommandCentral Aware ● Assistive AI enhances user $0.8 Billion ● Push to talk (PTT) broadband workflows and creates efficiencies 2024 Revenue communications ● Growing international presenc
Slide 33: Command Center: Growth and Monetization
Command Center Growth and Monetization End-to-end platform offered in the cloud and on-prem ● Large software install base of 3.6k 911 centers in the U.S. creates significant expansion opportunity ● Sales of ~$0.8B growing double digits in $20B TAM ● More than 60% of our Command Center customers have
Slide 34: Solving with AI
Solving with AI Taking a proactive and responsible approach to using AI to maximize efficiency and effectiveness Human-Centered Application in 3 Areas Automate Analysis Accelerate response Protect privacy Human attention Human action Human judgement Detect key events and automate Find answers without
Slide 35: SVX & Assist
SVX & Assist Converging the incident workflow from APX NEXT through the Command Center enhances user productivity & drives software attachment opportunity APX NEXT SVX Command Center AI Platform Smart Applications Digital Evidence Mobile Apps Command Center SmartConnect CC DEMS Responder Platform Rec
Slide 36: Competitive Landscape
Competitive Video Security & Access Control Mission Critical Networks Command Center Landscape Video Security Our mission-critical ecosystem across Video, Command Center and MCN creates competitive differentiation Access Control * This competitive landscape slide includes a non-exhaustive list of so
Slide 37: Additional Financials
Additional Financials
Slide 38: Strong Balance Sheet
Strong +10% +5% Y/Y Balance Sheet ** Y/Y +8% Moody’s Baa2, Stable +13% Y/Y Y/Y +9% +14% Y/Y S&P BBB, Stable +20% Y/Y Y/Y +14% Fitch BBB, Stable +41% Y/Y Y/Y Summary Investment Grade Rating* Total Liquidity ● Total Liquidity of ~$5.46B ● Net Debt to Adj. EBITDA ratio of ~1.3X ● U.S. Pension ~87% fund
Slide 39: Balanced Debt Maturity Profile
Balanced Debt Maturity Profile* ($M) ● Average maturity ~8yr ● Average coupon ~4.6% ● All fixed-rate notes * As of June 28, 2025
Slide 40: Corporate Responsibility
Corporate Responsibility
Slide 41: We are committed to corporate responsibility
We are committed to corporate responsibility TIME Glassdoor 2024 2025 World’s Best Best Places Companies to Work Philanthropy Environment Employee-initiated giving raised Optimized our company-wide more than $300,000 for causes cloud usage to reduce our around the world carbon emissions Fast Company
Slide 42: Our impact
Our impact Our technologies can directly support some of the world’s largest safety challenges every day. Safer schools Natural disasters Rising retail theft and violence More than 394,000 students have been exposed to gun U.S. natural disasters have cost $2.915 trillion since 1980 Shoplifting incid
Slide 43: Appendix
Appendix
Slide 44: Safe harbor
Safe harbor A number of forward-looking statements will be made during this presentation. Forward-looking statements are any statements that are not historical facts. These forward-looking statements are based on the current expectations of Motorola Solutions, and we can give no assurance that any f
Slide 45: Use of non-GAAP measures
Use of non-GAAP measures In addition to the results presented in accordance with accounting principles generally accepted in the U.S. (“GAAP”) in this presentation, Motorola Solutions, Inc. (“Motorola Solutions” or the “Company”) has provided certain non-GAAP measurements. Motorola Solutions has pro
Slide 46: Use of non-GAAP measures
Use of non-GAAP measures Adjusted Free Cash Flow - Represents Free Cash Flow excluding a $500 million voluntary, debt-funded U.S. pension contribution in the first quarter 2018. The Company has excluded the impact of this contribution because the Company believes that this item does not reflect expect
Slide 47: Solving for safer
Solving for safer communities schools hospitals businesses nations everywhere MOTOROLA, MOTO, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license. All other trademarks are the property of their respective o
Slide 48: Appendix: Supplemental Non-GAAP Measures
Appendix: Supplemental Non-GAAP Measures * Amounts attributable to Motorola Solutions, Inc. common shareholders. ** Under U.S. GAAP, the accounting for a net loss from continuing operations results in the presentation of dilutive earnings per share equal to basic earnings per share, as any increase
Slide 49: Appendix: Supplemental Non-GAAP Measures
Appendix: Supplemental Non-GAAP Measures Reconciliation of GAAP net earnings to EBITDA and adjusted EBITDA *** Refer to slide 48 for details of highlighted items
Slide 50: Appendix: Supplemental Non-GAAP Measures
Appendix: Supplemental Non-GAAP Measures Reconciliation of GAAP operating cash flow to adjusted operating cash flow Reconciliation of GAAP operating cash flow to adjusted free cash flow
Slide 51: Appendix: Supplemental Non-GAAP Measures
Appendix: Supplemental Non-GAAP Measures Reconciliation of GAAP net earnings to EBITDA and adjusted EBITDA Net Debt calculation Net Debt to adjusted EBITDA calculation *** Refer to slide 48 for details of highlighted items
Slide 52: Appendix: Supplemental Non-GAAP Measures
Appendix: Supplemental Non-GAAP Measures Net Debt to adjusted EBITDA ratio calculation
Slide 53: Our impact: references
Our impact References for slide 42 ● Safer Schools: ○ Gun violence in schools, January 24, 2025: https://www.washingtonpost.com/education/interactive/school-shootings-database/ ○ Federal funding 2024: https://cops.usdoj.gov/pdf/2024AwardDocs/svpp/Post_Award_Fact_Sheet.pdf ● Natural Disasters: ○ Weat
Motorola Solutions — Investor Presentation (August 2025) on 6ix