Zebra Tech

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus, with revenue of $1,557M (+20.4% YoY) beating the $1,498M estimate, and Non-GAAP EPS of $6.35 far surpassing the $4.38 expectation. Profitability was bolstered by a record Adjusted Gross Margin of 53.3% (+540 bps YoY) and $73M in IEEPA tariff recoveries. Management raised full-year FY26 guidance for revenue growth (14-16%) and Adjusted EBITDA margin (23.5-24.0%), signaling continued momentum in automation and Physical AI demand.