How did Zebra Technologies' revenue and expenses shift in Q4 2024?

**Zebra Technologies experienced significant revenue growth and notable expense improvements in Q4 2024**, contributing to robust financial performance:

1. **Revenue Shift**:
- **Tangible Products**: The company's revenue was driven by strong sales in its Tangible Products segment, with $4.02 billion in revenue.
- **Services and Software**: The Services and Software segment contributed $965 million and $716 million in revenue, respectively.
- **Overall Growth**: Net sales increased by 32.2% year-over-year, reaching $1,334 million, with gross profit rising by 44.6% to $648 million.
2. **Expense Shift**:
- **Operating Expenses**: There were no reported results for operating expenses in Q4 2024.
- **Adjusted Performance**: Non-GAAP measures showed improved adjusted gross margin to 48.7%, indicating enhanced operational efficiency.
- **Cost Savings**: Zebra Technologies had previously implemented cost-saving measures, such as a voluntary retirement plan, which led to a 3.9% decrease in operating expenses in Q3 2024.
3. **Profitability**: The company reported a net income of $163 million, with a net income margin of 12.2%. Diluted EPS increased by 912.9% to $3.14.
4. **Cash Flow and EBITDA**: Adjusted EBITDA increased by 90.3% to $295 million, and the company generated over $650 million in free cash flow in the first nine months of 2024.

In conclusion, Zebra Technologies saw substantial revenue growth, particularly in its Tangible Products segment, and made notable strides in cost management, leading to improved profitability and cash flow in Q4 2024.