Overview We are a global leader in the Automatic Identification and Data Capture (“AIDC”) industry. The AIDC market consists of mobile computing, data capture, radio frequency identification devices (“RFID”), thermal barcode printing, and other workflow automation products and services. The Company’s offerings are proven to help our customers and end-users digitize and automate their workflows to achieve their critical business objectives, including improved productivity and operational efficiency, optimized regulatory compliance, and better customer experiences. We design, manufacture, and sell a broad range of AIDC offerings, including: mobile computers, barcode scanners and imagers, RFID readers, specialty printers for barcode labeling and personal identification, real-time location systems (“RTLS”), related accessories and supplies, such as labels and other consumables, and related software applications. We also provide machine vision and self-serve touchscreen solutions; a full range of services, including maintenance, technical support, repair, managed and professional services; as well as cloud-based software subscriptions. End-users of our offerings include those in retail and e-commerce, manufacturing, transportation and logistics, healthcare, hospitality, public sector, and other industries. We continue to evolve and advance our vision: frontline operations everywhere are digitized, automated and intelligent. Through continual innovation, we have expanded beyond the traditional AIDC market to transform activities such as factory production, packages moving through a supply chain, retail shopping, the hospital patient journey, restaurant self-service, and first responders addressing public safety and emergency situations. Data from enterprise assets, including status, condition, location, utilization, and preferences, is analyzed to provide prioritized actionable insights and optimize activities. The Company’s operations consist of two reportable segments that provide complementary offerings to our customers: Connected Frontline (“CF”) and Asset Visibility & Automation (“AVA”). •The CF segment is focused on unifying teams, customers, and AI agents to deliver enhanced frontline experiences. This segment brings together solutions that empower frontline workers with the information and tools they need to make smarter decisions and improve customer service. Principal product categories include mobile computing, point of sale solutions, self-service kiosks and interactive touchscreen displays, workflow optimization software solutions, and related services. •The AVA segment provides solutions that track critical assets and automate workflows to provide the real-time, data-driven insights necessary to optimize supply chains, manufacturing, and logistics. The principal product categories include thermal barcode printing and related supplies and sensors, data capture, fixed industrial scanning, machine vision, RFID, real-time location systems (RTLS), and related services. Second Quarter 2026 Financial Summary and Other Recent Developments •Net sales were $1,557 million in the current quarter compared to $1,293 million in the prior year second quarter. •Operating income was $321 million in the current quarter compared to $183 million in the prior year second quarter. •Net income was $233 million, or $4.85 per diluted share in the current quarter, compared to net income of $112 million, or $2.19 per diluted share in the prior year second quarter. 21 Table of Contents •We recognized a $73 million pretax benefit from the expected refund of previously paid import tariffs, with $14 million of cash received in the second quarter. •We repurchased $568 million of common shares year to date, including $268 million in the second quarter. IEEPA Import Tariffs: On February 20, 2026, the U.S. Supreme Court invalidated certain import tariffs enacted in 2025 under the International Emergency Economic Powers Act (“IEEPA”). The Company is in the process of seeking the refund of its approximately $73 million of previously paid import tariffs in accordance with the process defined by the U.S. Customs and Border Protection. During the second quarter of 2026, the Company recognized the benefit of approximately $73 million in expected refunds within Cost of Sales on the Consolidated Statements of Operations, including $46 million attributed to the CF segment and $27 million attributed to the AVA segment. See Note 12, Accrued Liabilities, Commitments and Contingencies in the Notes to Consolidated Financial Statements for further information related to this matter. Exit & Restructuring Actions: In the second quarter, we substantially completed our actions under the previously announced 2025 Productivity Plan and recorded an additional $8 million in severance and related costs. Cumulative one-time charges under this plan, which was initiated last year, were $37 million. We expect these actions to achieve net annualized pre-tax cost savings of approximately $35 million. The majority of the remaining obligations associated with these actions are expected to be satisfied in the second half of 2026. See Note 7, Exit and Restructuring Activities in the Notes to Consolidated Financial Statements for further information related to the Company’s exit and restructuring actions. Results of Operations Consolidated Results of Operations (amounts in millions, except percentages) Three Months Ended Six Months Ended July 4, 2026 June 28, 2025 $ Change % Change July 4, 2026 June 28, 2025 $ Change % Change Net sales: Tangible products $ 1,316 $ 1,055 $ 261 24.7 % $ 2,547 $ 2,117 $ 430 20.3 % Services and software 241 238 3 1.3 % 505 484 21 4.3 % Total Net sales 1,557 1,293 264 20.4 % 3,052 2,601 451 17.3 % Gross profit 825 616 209 33.9 % 1,567 1,261 306 24.3 % Gross margin 53.0 % 47.6 % 540 bps 51.3 % 48.5 % 280 bps Operating expenses 504 433 71 16.4 % 1,031 883 148 16.8 % Operating income $ 321 $ 183 $ 138 75.4 % $ 536 $ 378 $ 158 41.8 % Net sales to customers by geographic region were as follows (amounts in millions, except percentages): Three Months Ended Six Months Ended July 4, 2026 June 28, 2025 $ Change % Change July 4, 2026 June 28, 2025 $ Change % Change North America $ 774 $ 638 $ 136 21.3 % $ 1,502 $ 1,277 $ 225 17.6 % EMEA 498 418 80 19.1 % 1,005 866 139 16.1 % Asia-Pacific 181 147 34 23.1 % 348 284 64 22.5 % Latin America 104 90 14 15.6 % 197 174 23 13.2 % Total Net sales $ 1,557 $ 1,293 $ 264 20.4 % $ 3,052 $ 2,601 $ 451 17.3 % 22 Table of Contents Operating expenses are summarized below (amounts in millions, except percentages): Three Months Ended Six Months Ended July 4, 2026 June 28, 2025 As a % of Net sales July 4, 2026 June 28, 2025 As a % of Net sales 2026 2025 2026 2025 Selling and marketing $ 184 $ 158 11.8 % 12.2 % $ 373 $ 319 12.2 % 12.3 % Research and development 159 144 10.2 % 11.1 % 324 295 10.6 % 11.3 % General and administrative 114 102 7.3 % 7.9 % 241 213 7.9 % 8.2 % Amortization of intangible assets 37 25 NM NM 74 49 NM NM Acquisition and integration costs 2 4 NM NM 3 7 NM NM Exit and restructuring costs 8 — NM NM 16 — NM NM Total Operating expenses $ 504 $ 433 32.4 % 33.5 % $ 1,031 $ 883 33.8 % 33.9 % Consolidated Organic Net sales growth: Three Months Ended Six Months Ended July 4, 2026 July 4, 2026 Reported GAAP Consolidated Net sales growth 20.4 % 17.3 % Adjustments: Impact of foreign currency translations (1) (2.5) % (2.2) % Impact of acquisitions and dispositions (2) (8.7) % (8.3) % Consolidated Organic Net sales growth (3) 9.2 % 6.8 % (1)Operating results reported in U.S. Dollars are affected by foreign currency exchange rate fluctuations. Foreign currency translation impact represents the difference in results that are attributable to fluctuations in the currency exchange rates used to convert the results for businesses where the functional currency is not the U.S. Dollar. This impact is calculated by translating the current period results at the currency exchange rates used in the comparable prior year period as well as removing realized cash flow hedge gains and losses from both the current and prior year periods. (2)For purposes of computing Organic Net sales growth, amounts attributable to business acquisitions or dispositions are excluded for twelve months following or preceding the respective acquisition or disposition, respectively. (3)Consolidated Organic Net sales growth is a non-GAAP financial measure. See the Non-GAAP Measures section at the end of this item. Second quarter 2026 compared to Second quarter 2025 Total Net sales increased by $264 million or 20.4% compared to the prior year quarter, reflecting growth in both of our segments. Our overall sales growth reflects improved demand in all regions. Excluding the effects of foreign currency, acquisitions and dispositions, Consolidated Organic Net sales increased by 9.2%. Gross margin increased to 53.0% for the current quarter compared to 47.6% for the prior year quarter, primarily due to the favorable impacts of IEEPA tariff recoveries and foreign currency. We also fully mitigated increased memory costs through price realization. Operating expenses for the quarters ended July 4, 2026 and June 28, 2025 were $504 million and $433 million, or 32.4% and 33.5% of Net sales, respectively. Current quarter Operating expenses increased compared to the prior year quarter primarily due to the inclusion of operating expenses of Elo Touch, including intangible asset amortization, as well as higher employee-related costs. Operating income was $321 million for the current quarter compared to $183 million in the prior year quarter. Total Other expense, net decreased primarily due to net losses on long-term investments in the prior year quarter and lower foreign exchange losses in the current quarter, partially offset by higher interest expense associated with higher average debt balances. 23 Table of Contents The Company’s effective tax rates for the three months ended July 4, 2026 and June 28, 2025 were 18.2% and 18.8%, respectively. The decrease in the effective tax rate was primarily due to tax benefits related to foreign earnings subject to U.S. taxation, partially offset by increased U.S. state income taxes. Year to date 2026 compared to Year to date 2025 Total Net sales increased by $451 million or 17.3% compared to the prior year, reflecting growth in both of our segments. Our overall sales growth reflects improved demand in all regions. Excluding the effects of foreign currency, acquisitions and dispositions, Consolidated Organic Net sales increased by 6.8%. Gross margin increased to 51.3% for the current year compared to 48.5% for the prior year, primarily due to favorable impacts of IEEPA tariff recoveries and foreign currency. Operating expenses for the quarters ended July 4, 2026 and June 28, 2025 were $1,031 million and $883 million, or 33.8% and 33.9% of Net sales, respectively. Current year Operating expenses increased compared to the prior year primarily due to the inclusion of operating expenses of Elo Touch, including intangible asset amortization, as well as higher employee-related costs. Operating income was $536 million for the current year compared to $378 million in the prior year. Total Other expense, net increased primarily due to lower interest income on cash equivalents and higher interest expense associated with higher average debt balances, partially offset by lower foreign exchange losses. The Company’s effective tax rates for the six months ended July 4, 2026 and June 28, 2025 were 18.6% and 18.2%, respectively. The increase in the effective tax rate was primarily due to higher U.S. state income taxes and less favorability from tax credits, partially offset by increased tax benefits related to foreign earnings subject to U.S. taxation. Results of Operations by Segment The following commentary should be read in conjunction with the financial results of each reportable business segment as detailed in Note 18, Segment Information & Geographic Data in the Notes to Consolidated Financial Statements. To the extent applicable, segment operating income excludes Share-based Compensation, Amortization of intangible assets, Acquisition and integration costs, Exit and restructuring costs, as well as certain other non-recurring costs (impairment of goodwill and other intangible assets, and business acquisition purchase accounting adjustments). Connected Frontline Segment (“CF”) (amounts in millions, except percentages) Three Months Ended Six Months Ended July 4, 2026 June 28, 2025 $ Change % Change July 4, 2026 June 28, 2025 $ Change % Change Net sales: Tangible products $ 706 $ 521 $ 185 35.5 % $ 1,315 $ 1,002 $ 313 31.2 % Services and software 197 196 1 0.5 % 413 399 14 3.5 % Total Net sales 903 717 186 25.9 % 1,728 1,401 327 23.3 % Gross profit 462 339 123 36.3 % 867 672 195 29.0 % Gross margin 51.2 % 47.3 % 390 bps 50.2 % 48.0 % 220 bps Operating expenses 243 197 46 23.4 % 479 390 89 22.8 % Operating income $ 219 $ 142 $ 77 54.2 % $ 388 $ 282 $ 106 37.6 % CF Organic Net sales growth: 24 Table of Contents Three Months Ended Six Months Ended July 4, 2026 July 4, 2026 CF Reported GAAP Net sales growth 25.9 % 23.3 % Adjustments: Impact of foreign currency translations (1) (2.5) % (2.3) % Impact of acquisitions (2) (15.9) % (15.3) % CF Organic Net sales growth (3) 7.5 % 5.7 % (1)Operating results reported in U.S. Dollars are affected by foreign currency exchange rate fluctuations. Foreign currency translation impact represents the difference in results that are attributable to fluctuations in the currency exchange rates used to convert the results for businesses where the functional currency is not the U.S. Dollar. This impact is calculated by translating the current period results at the currency exchange rates used in the comparable prior year period as well as removing realized cash flow hedge gains and losses from both the current and prior year periods. (2)For purposes of computing Organic Net sales growth, amounts directly attributable to the acquisition of Elo Touch are excluded for twelve months following the September 30, 2025 acquisition date. (3)CF Organic Net sales growth is a non-GAAP financial measure. See the Non-GAAP Measures section at the end of this item. Second quarter 2026 compared to Second quarter 2025 Total Net sales for CF increased $186 million or 25.9% compared to the prior year, primarily due to the inclusion of Elo Touch, higher sales of mobile computers, and favorable impact of foreign currency. Excluding the impact of foreign currency and the acquisition of Elo Touch, CF Organic Net sales increased by 7.5%. Gross margin increased to 51.2% in the current year compared to 47.3% for the prior year quarter, primarily due to favorable impacts of IEEPA tariff recoveries and foreign currency, partially offset by unfavorable business mix. Operating income increased 54.2% in the current year compared to the prior year. Year to date 2026 compared to Year to date 2025 Total Net sales for CF increased $327 million or 23.3% compared to the prior year, primarily due to the inclusion of Elo Touch, higher sales of mobile computers, and favorable impact of foreign currency. Excluding the impact of foreign currency and the acquisition of Elo Touch, CF Organic Net sales increased by 5.7%. Gross margin increased to 50.2% in the current year compared to 48.0% for the prior year, primarily due to favorable impacts of IEEPA tariff recoveries and foreign currency, partially offset by unfavorable business mix. Operating income increased 37.6% in the current year compared to the prior year. 25 Table of Contents Asset Visibility & Automation Segment (“AVA”) (amounts in millions, except percentages) Three Months Ended Six Months Ended July 4, 2026 June 28, 2025 $ Change % Change July 4, 2026 June 28, 2025 $ Change % Change Net sales: Tangible products $ 610 $ 534 $ 76 14.2 % $ 1,232 $ 1,115 $ 117 10.5 % Services and software 44 42 2 4.8 % 92 85 7 8.2 % Total Net sales 654 576 78 13.5 % 1,324 1,200 124 10.3 % Gross profit 368 280 88 31.4 % 716 596 120 20.1 % Gross margin 56.3 % 48.6 % 770 bps 54.1 % 49.7 % 440 bps Operating expenses 176 173 3 1.7 % 365 354 11 3.1 % Operating income $ 192 $ 107 $ 85 79.4 % $ 351 $ 242 $ 109 45.0 % AVA Organic Net sales growth: Three Months Ended Six Months Ended July 4, 2026 July 4, 2026 AVA Reported GAAP Net sales growth 13.5 % 10.3 % Adjustments: Impact of foreign currency translations (1) (2.3) % (2.2) % Impact of acquisitions and dispositions (2) 0.2 % (0.1) % AVA Organic Net sales growth (4) 11.4 % 8.0 % (1)Operating results reported in U.S. Dollars are affected by foreign currency exchange rate fluctuations. Foreign currency translation impact represents the difference in results that are attributable to fluctuations in the currency exchange rates used to convert the results for businesses where the functional currency is not the U.S. Dollar. This impact is calculated by translating the current period results at the currency exchange rates used in the comparable prior year period as well as removing realized cash flow hedge gains and losses from both the current and prior year periods. (2)For purposes of computing AVA Organic Net sales growth, amounts directly attributable to the acquisition of Photoneo and the disposition of the robotics automation business are excluded for twelve months following or preceding the respective acquisition or disposition, respectively. (3)AVA Organic Net sales growth is a non-GAAP financial measure. See the Non-GAAP Measures section at the end of this item. Second quarter 2026 compared to Second quarter 2025 Total Net sales for AVA increased $78 million or 13.5% compared to the prior year, primarily due to higher sales of printing and machine vision products and favorable impact of foreign currency. Excluding the impacts of foreign currency and acquisitions and dispositions, AVA Organic Net sales increased by 11.4%. Gross margin increased to 56.3% in the current year compared to 48.6% for the prior year, primarily due to favorable impacts of IEEPA tariff recoveries, business mix, and foreign currency. Operating income for the current year increased by 79.4% compared to the prior year. Year to date 2026 compared to Year to date 2025 Total Net sales for AVA increased $124 million or 10.3% compared to the prior year, primarily due to higher sales of printing and machine vision products and favorable impact of foreign currency. Excluding the impacts of foreign currency and acquisitions and dispositions, AVA Organic Net sales increased by 8.0%. 26 Table of Contents Gross margin increased to 54.1% in the current year compared to 49.7% for the prior year, primarily due to favorable impacts of IEEPA tariff recoveries, business mix, and foreign currency. Operating income for the current year increased by 45.0% compared to the prior year. Liquidity and Capital Resources The primary factors that influence our liquidity include the amount and timing of cash collections from our customers, cash payments to our suppliers, capital expenditures, acquisitions, and share repurchases. Management believes that our existing capital resources, inclusive of available borrowing capacity on debt and other financing facilities and funds generated from operations, are sufficient to meet anticipated capital requirements and service our indebtedness. The following table summarizes our cash flow activities for the periods indicated (in millions): Six Months Ended Cash flow provided by (used in): July 4, 2026 June 28, 2025 $ Change Operating activities $ 387 $ 325 $ 62 Investing activities (15) (99) 84 Financing activities (341) (257) (84) Effect of exchange rates on cash balances 1 2 (1) Net change in cash and cash equivalents $ 32 $ (29) $ 61 Cash flow provided by (used in): Operating activities $ 387 $ 325 $ 62 Less: Purchases of property, plant and equipment (26) (37) 11 Free cash flow (Non-GAAP)(1) $ 361 $ 288 $ 73 (1)Free cash flow, a non-GAAP measure, is defined as Net cash provided by (used in) operating activities in a period minus purchases of property, plant and equipment (capital expenditures) made in that period. 2026 compared to 2025 The change in our cash and cash equivalents balance during the six months ended July 4, 2026 compared to the prior year was primarily due to the following: •$62 million increase in net operating cash inflows primarily due to growth in the business and higher operating profitability, favorable timing of vendor payments, and lower incentive compensation payments in the current year, partially offset by unfavorable timing of customer collections. •$84 million decrease in net investing cash outflows primarily due to the acquisition of Photoneo in the prior year. •$84 million increase in net financing cash outflows primarily due to higher share repurchases, partially offset by net borrowings on our debt facilities. 27 Table of Contents Company Debt The following table shows the carrying value of the Company’s debt (in millions): July 4, 2026 December 31, 2025 Term Loan A $ 1,531 $ 1,575 Senior Notes 500 500 Revolving Credit Facility 565 275 Receivables Financing Facility 180 161 Total debt $ 2,776 $ 2,511 Less: Debt issuance costs (7) (8) Less: Unamortized discounts (1) (2) Less: Current portion of debt (2,275) (141) Total long-term debt $ 493 $ 2,361 In the first half of 2026, we increased our borrowings under the Revolving Credit and Receivables Financing Facilities to fund share repurchases. As of July 4, 2026, our short-term debt obligations primarily consists of our Term Loan A and Revolving Credit Facility (collectively, the "Credit Facility"), both of which are scheduled to mature on May 25, 2027. We intend to refinance the Credit Facility in the second half of 2026. The ultimate timing, structure, and terms of any such transaction will remain subject to the macroeconomic environment and prevailing conditions in the debt capital markets at the time of execution. Until a refinancing is completed, we will continue to meet our current debt service obligations using cash on hand and cash generated from operating activities. See Note 10, Long-Term Debt in the Notes to Consolidated Financial Statements for further details related to the Company’s debt instruments. Share Repurchases During the second quarter of 2026, the Company repurchased 1,173,993 shares of common stock for approximately $268 million. During the six months ended July 4, 2026, the Company has repurchased a total of 2,468,021 shares of common stock for $568 million. Safe Harbor Forward-looking statements contained in this filing are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995 and are highly dependent upon a variety of important factors, which could cause actual results to differ materially from those expressed or implied in such forward-looking statements. When used in this document and documents referenced, the words “anticipate,” “expect,” “believe,” “intend,” “estimate,” “will,” “plan,” “goal,” “target,” and “strategy” and similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could” as they relate to the Company or its management are intended to identify such forward-looking statements but are not the exclusive means of identifying these statements. Actual results may differ materially from those expressed or implied by forward-looking statements. Any forward-looking statements represent the Company’s views only as of the date of this report and should not be relied upon as representing the Company’s views as of any subsequent date. The forward-looking statements include, but are not limited to, the Company’s financial outlook for the full year of 2026. These forward-looking statements are based on current expectations, forecasts and assumptions, and are subject to the risks and uncertainties inherent in the Company’s industry, market conditions, general domestic and international economic conditions, and other factors. These factors include: •Market acceptance of the Company’s products, services, and software solutions and competitors’ offerings and the potential effects of emerging technologies and changes in customer requirements, •The effect of global market conditions, including in North America, Europe, Middle East, and Africa (“EMEA”), Latin America, and Asia-Pacific regions in which we do business, •The impact of changes in foreign exchange rates, customs duties and trade policies due to the large percentage of our sales and operations being outside the U.S., •Our ability to effectively manage manufacturing and operating costs, •Risks related to the manufacturing of the Company’s products and conducting business operations in non-U.S. countries, including the risk of depending on key suppliers who are also in non-U.S. countries, •The Company’s ability to purchase sufficient materials, parts, and components, and our ability to provide services, software, and products to meet customer demand, particularly in light of global economic conditions, •The availability of credit and the volatility of capital markets, which may affect our suppliers, customers, and ourselves, 28 Table of Contents •Success of integrating acquisitions, •Our ability to attract, retain, develop, and motivate key personnel, •Interest rate and financial market conditions, •Access to cash and cash equivalents held outside the U.S., •The effect of natural disasters, man-made disasters, public health issues (including pandemics), and cybersecurity incidents on our business, our customers or our contracted third parties, •The impact of changes in foreign and domestic governmental policies, laws, or regulations, •The outcome of litigation in which the Company may be involved, particularly litigation or claims related to infringement of third-party intellectual property rights, and •The outcome of any future tax matters or tax law changes. We encourage readers of this report to review Part II, Item 1A, “Risk Factors” in this report for further discussion of issues that could affect the Company’s future results. We undertake no obligation, other than as may be required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances, or any other reason after the date of this report. New Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses, which requires disaggregated disclosure of certain categories of expenses that are included within expense captions presented on the Consolidated Statements of Operations on an annual and interim basis. This ASU will be effective for the Company’s fiscal December 31, 2027 year-end and interim periods thereafter, with early adoption permitted. We are assessing the impact of this guidance on our disclosures; it will not have an impact on our results of operations, cash flows, or financial condition. In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which amends the criteria for capitalizing internal-use software development costs. This ASU will be effective for the Company beginning in 2028, with early adoption permitted. While we are currently assessing the impact of this ASU, we do not expect it to have a significant impact to the Company’s consolidated financial statements. Non-GAAP Measures The Company has provided reconciliations of the supplemental non-GAAP financial measures, as defined under the rules of the Securities and Exchange Commission, presented herein to the most directly comparable financial measures calculated and presented in accordance with GAAP. These supplemental non-GAAP financial measures – Consolidated Organic Net sales growth, CF Organic Net sales growth, AVA Organic Net sales growth, and Free cash flow – are presented because our management evaluates our financial results both including and excluding the effects of items that are not part of ongoing operations. Management believes that the supplemental non-GAAP financial measures presented provide additional perspective and insights when analyzing the core operating performance of our business from period to period and trends in our historical operating results. These supplemental non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with the GAAP financial measures presented.