Quinn Fredrickson

Framed ACA changes inside a broader recovery narrative and said it is comprehended in the outlook, without quantifying any procedure-volume impact.

Direct answer explaining the STERRAD 50-pound load clearance and the expanded addressable market for robotic surgery sterilization.

Neil attributed the 69% gross margin to volume and solution differentiation, with mix a factor, and views the upper-60s as a sustainable level.

Satish said no pull-ins; broad-based demand across commercial comms, aerospace/defense (including European sovereign investment) and semiconductor drove the orderly pipeline conversion.

Blake cited hybrid vehicle focus, AMR wins (largest AMR vertical), Plex with tier suppliers. USMCA negotiations key to broader CapEx unlock timing.

Blake provided full-year Discrete expectations: auto mid-single, semi ~10%, e-comm/warehouse ~20%. Christian confirmed modest sequential growth with tougher comps in H2.

Phil attributed the delta to upfront revenue recognition on term licenses and ProServe, a recurring Q2 dynamic, with ARR growth of 14% unchanged.

Rob said it is early but cited over 25,000 unique users on the connector and results in line with expectations.

Winters said this year's market pricing is in line with the prior guide and planned price increases are playing out as expected, with wide variability across memory types and a big benefit from direct purchasing that avoids the spot market. Pricing typically comes every three months, but suppliers have been transparent about the expected trajectory into 2027. Management reiterated its commitment to mitigate the P&L exposure through pricing and productivity while continuing to expand margins into 2027.

Winters said customer conversations remain productive and similar to prior years, with full indication of budget flush typically not clear until late Q3 and early Q4. Zebra feels good about the Q4 pipeline, but Q4 is somewhat capped by the memory supply the company has confidence in securing. The team is actively working to secure the pipeline and pass visibility to the supply chain team to meet demand, as it did in Q2.

Bill: copper in modest inflation, steel the biggest deflation pressure (Commercial Mechanical, Fire & Fab), PVC still the largest deflation category; deflation expected to lessen in H2.