Record Q2 Revenue and Earnings
Q2 revenue increased by 5%, with a notable 15% growth in software and services. Operating margins expanded by 80 basis points, leading to record Q2 operating earnings and strong operating cash flow growth. Non-GAAP EPS rose by 10% to $3.57.
Strong Order Growth and Backlog
Record Q2 orders increased by 27% year-over-year, with a $14.1 billion backlog, including $10.7 billion in software and services, marking the highest S&S backlog ever.
Raised Full Year Guidance
Full year guidance for sales, EPS, and operating cash flow was increased due to strong Q2 results and positive expectations for the remainder of the year.
Silvus Acquisition
The acquisition of Silvus was completed, expected to add $185 million in revenue for the remainder of the year, and is planned to be EPS neutral for 2025.
Successful Product Launches
The launch of the SVX video remote P25 speaker mic was well received, with orders from over 30 agencies, and the new ASTRO P25 LMR infrastructure saw several large orders.