Motorola Solutions (MSI) investor relations material

Business overview and market opportunity

• Operates a technology ecosystem for public safety, defense, and enterprise security with an $83B total addressable market as of 2026, spanning video security, mission critical networks, and command center solutions.

• Half of revenue now comes from high-growth areas: video, software, unmanned systems, and recurring services.

• Serves public safety agencies, defense, and enterprises, with 75% of revenue from public safety and defense and 25% from enterprise customers.

• 72% of revenue is generated in North America, with the remainder from international markets.

Financial performance and guidance

• Achieved $11.7B in 2025 revenue, with 38% from software and services, primarily recurring.

• Non-GAAP EPS has grown at a 17% CAGR since 2015; free cash flow at a 12% CAGR over the same period.

• 2026 guidance projects ~$12.8B in revenue, $16.87–$16.99 non-GAAP EPS, and $3B in operating cash flow.

• Maintains a strong balance sheet with ~$3.14B in liquidity and a net debt to adjusted EBITDA ratio of ~2.1x.

Segment and technology highlights

• Video Security & Access Control: $2.1B in 2025 revenue, double-digit growth, with over 5.5M fixed cameras deployed and 90% of portfolio featuring embedded AI.

• Mission Critical Networks: $8.6B in 2025 revenue, with 13K+ LMR networks globally and strong recurring revenue from multi-year service agreements.

• Command Center: $0.9B in 2025 revenue, double-digit growth, with ~60% of US 911 centers using at least one software solution.