Total Revenue " "

+31% (to $1,255M)

Driven by broad-based improvements in demand across both AIT and EVM segments, along with residual benefits from prior cost savings and restructuring actions that helped to overcome the softer revenue base in the previous year. " "

Asset Intelligence & Tracking " "

+27% (to $410M)

Lifted by strong RFID and printing product demand, partially offset by parts of the portfolio still recovering from prior-year channel inventory reductions. " "

Enterprise Visibility & Mobility " "

+34% (to $845M)

Propelled by robust mobile computing sales and easing supply chain constraints, building on a weaker prior-year quarter impacted by cautious customer spending and distributor destocking. " "

North America " "

+21% (to $628M)

Benefited from larger enterprise orders resuming, especially in healthcare and T&L, in contrast to the dampened demand seen in previous periods and tighter spending trends that impacted the prior-year base. " "

EMEA " "

+51% (to $405M)

Experienced the largest regional rebound due to stronger mobile computing uptake, easier prior-year comps (which were notably weak), and new project wins in manufacturing and retail. " "

Asia-Pacific " "

+25% (to $132M)

Improved as economic conditions stabilized relative to the prior year, with China showing gradual market recovery, though still below historical highs, and Southeast Asia providing additional growth. " "

Latin America " "

+41% (to $90M)

Fueled by strong demand in Brazil and Mexico following prior-year moderation in large-scale deployments, demonstrating increasing adoption of EVM solutions in targeted verticals. " "

Operating Income " " " "

From -$12M to $191M

Turned positive mainly due to a stronger revenue base, improved gross margin, and lower one-time charges versus the prior year, when higher incentive compensation adjustments and other costs had weighed on results. " " " "

Net Income " " " " "

From -$15M to $137M

Reflects the operating income rebound alongside modestly favorable tax rates and fewer non-operating expenses, compared to the previous period’s net loss driven by one-off charges and softer demand. " " " " "

Sales Growth

FY 2024

4–7% "

8% "

raised

Adjusted EBITDA Margin

FY 2024

20–21% "

21% "

raised

Non-GAAP Diluted EPS

FY 2024

$12.30–$12.90 "

$13.30–$13.50 "

raised

Free Cash Flow

FY 2024

At least $700 million "

At least $850 million "

raised

Sales Growth

Q4 2024

no prior guidance

28–31% "

no prior guidance

Adjusted EBITDA Margin

Q4 2024

no prior guidance

22% "

no prior guidance

Non-GAAP Diluted EPS

Q4 2024

no prior guidance

$3.80–$4.00 "

no prior guidance

Strong financial performance and profitability

Mixed or declining results in Q2 (flat), Q1 (-16.8%), and Q4 (-33%). " " " " "

Sales up 31% YOY to $1.3B and 21.4% adjusted EBITDA margin, showcasing a strong rebound. " "

Recurring topic with improved sentiment and momentum

Broadening demand recovery

Gradual improvement in Q2, modest signs in Q1, not broad in Q4. " " " " " " " " "

Recovery expanded in retail and T&L, with manufacturing still lagging. " " "

Recurring with a more positive outlook

Large orders and pipeline visibility

Subdued large deals in Q2 and Q1; cautious guidance in Q4. " " " " " " " "

More large deals returning, yet limited visibility into 2025. " " " "

Recurring focus, slightly improving but still uncertain

Manufacturing weakness and machine vision

Weakness continued in Q2, Q1, and Q4; machine vision diversification efforts ongoing. " " " " " " " " "

Manufacturing lags other sectors; machine vision declined but retains long-term potential. " "

Recurring topic with continuing caution

Healthcare growth

Sustained gains in Q2, Q1, and Q4 via clinical mobility and home healthcare expansions. " " " " " "

Fastest-growing vertical in Q3, driven by new customers, global opportunities. " "

Recurring with positive sentiment, likely a key driver

Free cash flow, M&A, and capital returns

Raised FCF guidance in Q2; emphasizing debt paydown in Q1 and Q4; higher bar for M&A. " " " " " "

Generated $650M+ FCF YTD, resumed share repurchases, maintaining a strong balance sheet. " "

Recurring with improved FCF and a cautious M&A stance

Destocking

Large destocking effects in Q4 and partially in Q2; largely completed by Q1. " " " " " " "

Seeing restocking after prior distributor inventory corrections; easier comps helping growth. " " " "

Ongoing but less impactful now

China recovery

Continued weakness in Q2 and Q1, no mention in Q4. " "

Stabilizing but no near-term pick-up expected. "

Consistent mention with a cautious outlook

AI and machine learning

Explored in Q2, Q1, Q4 with demos and pilots, focusing on frontline productivity. " " "

Introducing generative AI solutions, AI companion on devices; larger rollout planned in 2025. " " "

Recurring and increasingly strategic for future growth

Margin impact from large deals

Q2 noted large deals as slightly dilutive to gross margin but additive to EBITDA; no direct Q1 mention; minimal detail in Q4. " " " "

Higher Q3 margins partly due to lower large-deal volume; expecting a Q4 margin dip as large deals rise. " " "

Recurring with varying margin impact based on deal mix