Slide 1: Fourth Quarter and Full Year 2024 Results
Click to enter Presentation Title Subhead Copy here Zebra Technologies Fourth Quarter and Full Year 2024 Results February 13, 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results may differ from those expressed or impli
Slide 3: Agenda
Agenda Q4 Summary 01 Bill Burns, CEO Q4 Financials and 2025 Outlook 02 Nathan Winters, CFO Advancing Enterprise Asset Intelligence 03 Bill Burns, CEO Q&A 04 Bill Burns, CEO Nathan Winters, CFO ZEBRA TECHNOLOGIES
Slide 4: Fourth Quarter 2024 Summary
Q4 Summary Fourth Quarter 2024 Summary (1) • Delivered results above our outlook • Sales of $1,334M, reflecting 31.6% organic net sales growth o Double-digit growth across all major product categories, vertical markets and regions o Solid growth in Services and Software • Adjusted EBITDA Margin of 2
Slide 5: Agenda
Agenda Q4 Summary 01 Bill Burns, CEO Q4 Financials and 2025 Outlook 02 Nathan Winters, CFO Advancing Enterprise Asset Intelligence 03 Bill Burns, CEO Q&A 04 Bill Burns, CEO Nathan Winters, CFO ZEBRA TECHNOLOGIES
Slide 6: Fourth Quarter P&L Summary
Q4 Financials Fourth Quarter P&L Summary(1) In millions, except per share data 4Q24 4Q23 Change SEGMENT ORGANIC NET SALES GROWTH Net Sales $1,334 $1,009 +32.2% • Asset Intelligence & Tracking +28.8% • Enterprise Visibility & Mobility +33.1% Organic Net Sales Growth +31.6% $650 $450 +44.4% REGIONAL O
Slide 7: Cash Flow & Balance Sheet
Q4 Financials Cash Flow & Balance Sheet Cash Flow: FY24 Strong Liquidity Position: YE24 • Free cash flow of $954M, $1,045M higher YoY • $901M cash & cash equivalents o Working capital improvement o Stronger operating performance • $2.2B balance sheet debt o Lower income tax payments • 1.2x net-debt-
Slide 8: Outlook & Assumptions
2025 Outlook Outlook & Assumptions(1) 1Q25 FY25 • Sales growth between 8% and 11% • Sales growth between 3% and 7% o Includes 1 point unfavorable impact from FX o Includes 130 basis point unfavorable impact from FX • Adjusted EBITDA margin 21% - 22% • Adjusted EBITDA margin ~ 21% • Non-GAAP diluted
Slide 9: Agenda
Agenda Q4 Summary 01 Bill Burns, CEO Q4 Financials and 2025 Outlook 02 Nathan Winters, CFO Advancing Enterprise Asset Intelligence 03 Bill Burns, CEO Q&A 04 Bill Burns, CEO Nathan Winters, CFO ZEBRA TECHNOLOGIES
Slide 10: Zebra Digitizes & Automates the Front Line of Business
Advancing Our Vision Zebra Digitizes & Automates the Front Line of Business Purpose-Built Hardware + Software + Cloud Analytics ZEBRA TECHNOLOGIES 10
Slide 11: Enabling Improved Outcomes Across Our End Markets
Advancing Our Vision Enabling Improved Outcomes Across Our End Markets Retail & Transportation Manufacturing Healthcare Other Markets E-Commerce & Logistics Elevated Customer Enhance Worker Production Throughput Patient Safety Critical Communications Experience Productivity Operational Excellence Un
Slide 12: The Modern Store by Zebra: AI-Driven Customer-First Solutions
Advancing Our Vision The Modern Store by Zebra AI-Driven Customer-First Solutions Optimized Inventory • Reduce product waste shrink rates • Increase inventory accuracy AI Agents • Improve on-shelf availability Knowledge Sales Elevated Customer Experience Merchandising • Increase checkout speed Devic
Slide 13: Opportunity Across Our End Markets
Advancing Our Vision Opportunity Across Our End Markets Market Served Longer-Term Opportunity • Technology equipped frontline workers to drive productivity and satisfaction Retail & E-commerce • Reimagining point-of-sale and solutions to address shrink • E-commerce growth with shorter lead time expe
Slide 14: Agenda
Agenda Q4 Summary 01 Bill Burns, CEO Q4 Financials and 2025 Outlook 02 Nathan Winters, CFO Advancing Enterprise Asset Intelligence 03 Bill Burns, CEO Q&A 04 Bill Burns, CEO Nathan Winters, CFO ZEBRA TECHNOLOGIES
Slide 15: Q&A
Q&A ZEBRA TECHNOLOGIES
Slide 16: Appendix
Appendix ZEBRA TECHNOLOGIES 16
Slide 17: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information This presentation contains certain Non-GAAP financial measures, consisting of “Adjusted EBITDA,” “Adjusted EBITDA margin,” “Adjusted EBITDA % of adjusted net sales,” “adjusted gross margin,” “adjusted gross profit,” “adjusted net sales,” “adjusted operating expe
Slide 18: GAAP to Non-GAAP Organic Net Sales Growth (Decline) Reconciliation
GAAP to Non-GAAP Organic Net Sales Growth (Decline) Reconciliation (Unaudited) ZEBRA TECHNOLOGIES 18 18
Slide 19: GAAP to Non-GAAP Regional Organic Net Sales Growth Reconciliation
GAAP to Non-GAAP Regional Organic Net Sales Growth Reconciliation (Unaudited) ZEBRA TECHNOLOGIES 19 19
Slide 20: GAAP to Non-GAAP Gross Margin Reconciliation
GAAP to Non-GAAP Gross Margin Reconciliation ZEBRA TECHNOLOGIES 20 20
Slide 21: GAAP to Non-GAAP Net Income Reconciliation
($ in millions, except share data) GAAP to Non-GAAP Net Income Reconciliation (Unaudited) ZEBRA TECHNOLOGIES 21 21
Slide 22: GAAP to Non-GAAP EBITDA Reconciliation
GAAP to Non-GAAP EBITDA Reconciliation ZEBRA TECHNOLOGIES 22 22
Slide 23: GAAP to Non-GAAP Free Cash Flow Reconciliation
GAAP to Non-GAAP Free Cash Flow Reconciliation ($ in millions) (Unaudited) ZEBRA TECHNOLOGIES 23 23
Slide 24: GAAP to Non-GAAP Net Debt to Adjusted EBITDA Reconciliation
GAAP to Non-GAAP Net Debt to Adjusted EBITDA Reconciliation ($ in millions) (Unaudited) ZEBRA TECHNOLOGIES 24 24
Slide 25: About Zebra
About Zebra Zebra (NASDAQ: ZBRA) provides the tools to help businesses grow with asset visibility, connected frontline workers and intelligent automation. The company operates in more than 100 countries, and our customers include over 80% of the Fortune 500. Designed for the frontline, Zebra’s award