Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $841 million, up 3% organically and up 10% after adjusting for the timing of January 1 term license revenue [5][22] - Annual Recurring Revenue (ARR) reached $2.11 billion, up 17% organically, exceeding expectations across segments [5][22] - Earnings per share (EPS) was reported at $0.61, also ahead of expectations [5][22] - Gross margins expanded by 180 basis points to 69.9%, and EBITDA margins increased by 100 basis points year over year to 25.9% [22] Business Line Data and Key Metrics Changes - AECO segment delivered a record ARR of $1.29 billion, with 19% growth for the quarter [24] - Field Systems revenue was up 6%, with ARR growth of 25%, driven by strong performance in civil construction and subscription offerings [25] - Transportation and Logistics segment saw revenue and ARR both increase by 67%, with over 90% of revenue now recurring following divestitures [26] Market Data and Key Metrics Changes - Modest softness was noted in the public sector in the U.S., with slightly longer sales cycles for enterprise customers [11] - Strength was observed in small to mid-sized construction companies and sectors such as data centers, renewables, and mining [12] - In Europe, the automotive segment is down, while retail and construction materials are up, indicating varied market health [17] Company Strategy and Development Direction - The company is focused on AI integration to enhance customer service and operational efficiency, with a clear strategy to leverage AI across various functions [6][8] - The leadership emphasizes maintaining a strong competitive position during economic downturns by capitalizing on cross-sell and upsell opportunities [10] - The company aims to continue its transformation towards a software-centric model, with a significant portion of revenue now derived from subscriptions [4][24] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious yet optimistic outlook, maintaining guidance for the year while acknowledging macroeconomic uncertainties [6][28] - The company sees opportunities in the current environment, believing it can outperform weaker competitors during potential downturns [10][11] - There is a focus on capital allocation towards attractive market opportunities, particularly in data centers and infrastructure [20] Other Important Information - The company repurchased $627 million of shares in Q1 2025, with $373 million remaining in authorization [21] - A change in auditors to KPMG was announced for the fiscal year 2025 [19] Q&A Session Summary Question: Performance of Field Systems business relative to peers - Management highlighted the large, underserved market and the strength of their product and dealer channel, contributing to resilience in performance [34][36] Question: Customer sentiment in AECO and project outlook - Management noted steady performance with pockets of strength and weakness, indicating longer sales cycles but no fundamental changes in decision-making [46][48] Question: Impact of tariffs on pricing - Management confirmed a 4% surcharge to offset the $10 million quarterly tariff impact, primarily from Canada and Mexico [58][86] Question: AI potential for customers - Management emphasized the unique data scope Trimble possesses, which positions the company well for AI-driven solutions and customer insights [64][66] Question: Machine control as a service and new business - Management reported over 50% of new customers in the quarter were new logos, indicating successful market expansion through subscription offerings [68][70] Question: Stickiness of software business and churn - Management reported a net retention rate of 110%, with growth in smaller customer segments, indicating resilience in the software business [74][76]

Q1 2025 Financial Performance - As-reported revenue was $841 million, while as-adjusted revenue was $818 million[8] - As-adjusted organic revenue growth was +3%, and +10% excluding the impact of January 1 term license revenue[8,16] - As-reported ARR reached $2,176 million, with as-adjusted ARR at $2,111 million, representing +17% organic growth[8] - Non-GAAP EPS was $061, reaching the high-end of guidance[8] Segment Performance (As-Adjusted) - AECO revenue was $335 million with 0% organic growth, but +17% organic growth excluding January 1 term license revenue; ARR grew +19% organically to $1,294 million[25] - Field Systems revenue was $359 million, with +6% organic growth; ARR grew +25% organically to $358 million[28] - Transportation & Logistics revenue was $123 million, with +5% organic growth, or +6% excluding January 1 term license revenue; ARR grew +7% organically to $459 million[32] FY25 Outlook (As-Adjusted) - The company maintains full-year revenue guidance of $335 billion to $345 billion, representing +45% to +75% total growth and +40% to +70% organic growth[36] - Annualized Recurring Revenue (ARR) is projected to grow +13% to +15% organically[36] - Non-GAAP operating margin is expected to be between 263% and 273%, with Adjusted EBITDA margin between 278% and 288%[36]

Revenue Performance - Trimble reported record annualized recurring revenue of $2.18 billion, up 7% year-over-year and 15% on an organic basis[9]. - Total revenue for Q1 2025 was $840.6 million, down 12% year-over-year but up 2% on an organic basis[9]. - Segment revenue for AECO in Q1 2025 was $335.4 million, a decrease of 1.1% from $339.1 million in Q1 2024[19]. - GAAP revenue for Q1 2025 was $840.6 million, down 11.8% from $953.3 million in Q1 2024[21]. - Non-GAAP gross margin for Q1 2025 was $581.7 million, representing 69.2% of revenue, compared to $627.1 million or 65.8% in Q1 2024[21]. - Organic Revenue also excludes foreign currency translation and acquisitions/divestitures from the prior 12 months, focusing on the company's core revenue performance[39]. Income and Earnings - GAAP net income for Q1 2025 was $66.7 million, with diluted earnings per share of $0.27[9]. - Non-GAAP net income for Q1 2025 was $151.4 million, with diluted earnings per share of $0.61[9]. - GAAP operating income for Q1 2025 was $97.5 million, representing 11.6% of revenue[9]. - Non-GAAP operating income for Q1 2025 was $198.2 million, representing 23.6% of revenue[9]. - GAAP operating income for Q1 2025 was $97.5 million, slightly down from $109.2 million in Q1 2024, maintaining an operating income margin of 11.6%[22]. - Non-GAAP operating income for Q1 2025 was $198.2 million, accounting for 23.6% of revenue, compared to $234.4 million or 24.6% in Q1 2024[22]. - GAAP net income for Q1 2025 was $66.7 million, an increase from $57.2 million in Q1 2024[22]. - Non-GAAP net income for Q1 2025 was $151.4 million, slightly down from $159.1 million in Q1 2024[22]. - Forecasted GAAP diluted net income per share for Q2 2025 is between $0.26 and $0.32, while the forecasted non-GAAP diluted net income per share is between $0.59 and $0.65[22]. Cash Flow and Guidance - Trimble expects full-year 2025 revenue guidance between $3,370 million and $3,470 million[4]. - For Q2 2025, Trimble anticipates revenue between $815 million and $845 million[5]. - The company maintained its full-year 2025 guidance despite current market uncertainties[4]. - Trimble's cash and cash equivalents decreased to $290.0 million from $738.8 million year-over-year[15]. - Free cash flow for Q1 2025 was $149.0 million, down from $233.8 million in Q1 2024[22]. - Adjusted EBITDA for Q1 2025 was $212.1 million, representing 25.2% of revenue, compared to $250.9 million or 26.3% in Q1 2024[22]. Annualized Recurring Revenue - Trimble's Annualized Recurring Revenue (ARR) is calculated by taking subscription and maintenance revenue for the current quarter, adding the contract value of term licenses, and annualizing it, providing a supplementary indicator of recurring revenue value[36]. - Organic Annualized Recurring Revenue excludes the impacts of foreign currency translation and acquisitions/divestitures closed in the prior 12 months, offering a clearer view of underlying revenue growth[38].

Core Viewpoint - Trimble Inc. reported strong financial results for Q1 2025, achieving record annualized recurring revenue of $2.18 billion, while maintaining its full-year guidance despite market uncertainties [3][8]. Financial Highlights - Q1 2025 total revenue was $840.6 million, a decrease of 12% year-over-year but an increase of 2% on an organic basis [8]. - GAAP operating income was $97.5 million, representing 11.6% of revenue, while non-GAAP operating income was $198.2 million, or 23.6% of revenue [8][10]. - GAAP net income for Q1 2025 was $66.7 million, with diluted earnings per share (EPS) of $0.27; non-GAAP net income was $151.4 million, with non-GAAP diluted EPS of $0.61 [8][11]. - Adjusted EBITDA for Q1 2025 was $212.1 million, accounting for 25.2% of revenue [8][15]. Forward-Looking Guidance - For the full year 2025, Trimble expects revenue between $3,370 million and $3,470 million, with GAAP EPS projected at $1.43 to $1.64 and non-GAAP EPS at $2.76 to $2.98 [3][4]. - For Q2 2025, revenue is anticipated to be between $815 million and $845 million, with GAAP EPS of $0.26 to $0.32 and non-GAAP EPS of $0.59 to $0.65 [4][8]. Business Segments - Trimble's reporting segments for Q1 2025 included AECO with revenue of $335.4 million, Field Systems at $359.2 million, and T&L at $146.0 million [13]. - Operating income percentages for these segments were 27.3% for AECO, 29.7% for Field Systems, and 17.9% for T&L [13]. Cash Flow and Share Repurchase - Net cash provided by operating activities was $155.6 million, with free cash flow at $149.0 million for Q1 2025 [16][27]. - The company executed a share repurchase of $627.4 million during the quarter [8]. Annualized Recurring Revenue - Trimble's annualized recurring revenue (ARR) reached $2.18 billion, reflecting a 7% year-over-year increase and a 15% increase on an organic basis [8][32].

Core Insights - The San Diego County Regional Airport Authority has selected Woolpert to implement the Trimble Unity Maintain™ enterprise asset management system for San Diego International Airport, aimed at streamlining maintenance operations [1][2]. Group 1: Project Overview - Woolpert will provide implementation, configuration, training, maintenance, and technical support services as part of the contract [2]. - The system will leverage the airport's existing GIS data to enhance operational efficiency and asset performance, while also supporting Part 139 Inspection Reporting and Safety Management System best practices [2]. Group 2: Strategic Importance - Woolpert's approach aims to align the project with San Diego International Airport's vision for a centralized and efficient computerized maintenance management system, focusing on optimized GIS, reduction of systems overlap, and effective staff training [3]. - The contract reflects a broader industry trend recognizing the significance of geospatial-based systems as essential asset registries throughout the asset lifecycle [3]. Group 3: Company Background - Woolpert is a leading architecture, engineering, geospatial, and strategic consulting firm, recognized as a Top 100 ENR Global Design firm and has been America's fastest-growing AEG firm since 2015 [4]. - Trimble is a global technology company that integrates the physical and digital worlds, focusing on innovation in precise positioning, modeling, and data analytics across various essential industries [5].

Murphy to Sell and Support Trimble Grade Control, Site Positioning and Correction Services for Deere, Hamm Equipment WESTMINSTER, Colo., May 1, 2025 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) today announced Murphy Tractor & Equipment Co., Inc. as the newest Trimble Technology Outlet. Based in Park City, Kansas, Murphy Tractor is the first John Deere dealer to become an authorized Trimble civil construction reseller. Murphy Tractor Becomes First Trimble Technology Outlet for John Deere Construction Equipme ...

WESTMINSTER, Colo., April 29, 2025 /PRNewswire/ -- Trimble Inc. ("the Company") (Nasdaq: TRMB) announced today that the Audit Committee of its Board of Directors has appointed KPMG LLP as the Company's independent registered public accounting firm, effective as of April 25, 2025, and dismissed Ernst & Young LLP as the Company's independent registered public accounting firm, effective as of April 25, 2025.  About TrimbleTrimble is a global technology company that connects the physical and digital worlds, tra ...

Core Viewpoint - Trimble Navigation (TRMB) is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a solid history of exceeding expectations [1][2]. Earnings Performance - Trimble has consistently beaten earnings estimates, with an average surprise of 7.02% over the last two quarters [2]. - In the most recent quarter, Trimble reported earnings of $0.89 per share against an expectation of $0.88, resulting in a surprise of 1.14% [2]. - For the previous quarter, the consensus estimate was $0.62 per share, while the actual earnings were $0.70 per share, leading to a surprise of 12.90% [2]. Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for Trimble, indicated by a positive Zacks Earnings ESP (Expected Surprise Prediction) [5]. - The current Earnings ESP for Trimble is +5.44%, suggesting increased analyst optimism regarding its near-term earnings potential [8]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) indicates a high likelihood of another earnings beat [8]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [6]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [7]. Upcoming Earnings Report - Trimble's next earnings report is anticipated to be released on May 7, 2025 [8].

WESTMINSTER, Colo., April 25, 2025 /PRNewswire/ -- Trimble Inc. (the "Company") (Nasdaq: TRMB) announced today that it has filed its Annual Report on Form 10-K for the year ended January 3, 2025 with the Securities and Exchange Commission. There were no changes to the Company's financial statements as presented during the earnings call held by the Company on February 19, 2025. About Trimble Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 3, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-14845 TRIMBLE INC. (Exact name of Registrant as specified in its charter) Delaware (State or other jurisdiction of incorporat ...