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Revenue by Segment
Analyzes revenue from different business segments, indicating which areas contribute most to overall sales and where growth opportunities or challenges may exist.
Software & Services is the growth and margin engine — its late‑year step-ups and steady acceleration reflect subscription rollouts, FedRAMP-enabled wins and the Silvus contribution, turning recurring revenue into outsized margin leverage. Products & Systems Integration remains the larger revenue base with strong order and backlog momentum, but revenue recognition will be lumpy as supply‑chain normalization and seasonal Q1 softness persist. Management’s 2026 segment guide and record backlog support continued outperformance, though tariffs, parts costs and Silvus financing raise near‑term risk to margins.
MSI Revenue by Segment
| Date | Products and Systems Integration | Software and Services |
|---|---|---|
| Jun 30, 2026 | $1.91B | $1.23B |
| Mar 31, 2026 | $1.56B | $1.16B |
| Dec 31, 2025 | $2.04B | $1.34B |
| Sep 30, 2025 | $1.90B | $1.11B |
| Jun 30, 2025 | $1.65B | $1.11B |
| Mar 31, 2025 | $1.55B | $982.00M |
| Dec 31, 2024 | $1.81B | $1.20B |
| Sep 30, 2024 | $1.78B | $1.01B |
| Jun 30, 2024 | $1.66B | $970.00M |
| Mar 31, 2024 | $1.49B | $899.00M |
| Dec 31, 2023 | $1.89B | $958.00M |
| Sep 30, 2023 | $1.61B | $944.00M |
| Jun 30, 2023 | $1.44B | $966.00M |
| Mar 31, 2023 | $1.30B | $868.00M |
| Dec 31, 2022 | $1.81B | $896.00M |
| Sep 30, 2022 | $1.53B | $844.00M |
| Jun 30, 2022 | $1.28B | $855.00M |
| Mar 31, 2022 | $1.10B | $789.00M |
| Dec 31, 2021 | $1.50B | $825.00M |
| Sep 30, 2021 | $1.32B | $782.00M |
| Jun 30, 2021 | $1.20B | $773.00M |
| Mar 31, 2021 | $1.01B | $758.00M |
| Dec 31, 2020 | $1.51B | $763.00M |
| Sep 30, 2020 | $1.16B | $705.00M |
| Jun 30, 2020 | $968.00M | $650.00M |
| Mar 31, 2020 | $99.00M | $662.00M |
| Dec 31, 2019 | $1.67B | $703.00M |
| Sep 30, 2019 | $1.35B | $645.00M |
| Jun 30, 2019 | $1.24B | $622.00M |
| Mar 31, 2019 | $1.07B | $588.00M |