Financial Performance - Total revenue for the first quarter of 2024 was $953.3 million, an increase of 4.3% compared to $915.4 million in the first quarter of 2023[14]. - Product revenue decreased to $367.1 million, down 15.4% from $434.4 million year-over-year, while subscription and services revenue increased to $586.2 million, up 21.9% from $481.0 million[14]. - Gross margin improved to $593.6 million, compared to $560.8 million in the same quarter last year[14]. - Operating income for the first quarter of 2024 was $109.2 million, a decrease of 20.3% from $137.0 million in the first quarter of 2023[14]. - Net income fell to $57.2 million, down 55.7% from $128.8 million year-over-year, resulting in earnings per share of $0.23[14]. - Cash flow from operating activities increased to $233.8 million in Q1 2024, compared to $208.7 million in Q1 2023[20]. - Basic and diluted earnings per share for Q1 2024 were both $0.23, down from $0.52 in Q1 2023, with net income decreasing to $57.2 million from $128.8 million[64]. Assets and Liabilities - Cash and cash equivalents increased to $255.1 million from $229.8 million at the end of 2023[12]. - Total assets decreased to $9,321.2 million from $9,539.3 million at the end of 2023[12]. - Total liabilities decreased to $4,972.1 million from $5,039.2 million at the end of 2023[12]. - The company’s cash and cash equivalents at the end of Q1 2024 were $261.6 million, down from $1,038.1 million at the end of Q1 2023[20]. - Total debt as of Q1 2024 was $3,030.3 million, slightly down from $3,066.6 million at year-end 2023[50]. - The company’s total liabilities held for sale decreased to $40.6 million in Q1 2024 from $48.3 million at year-end 2023, a decline of about 16.5%[42]. Investments and Acquisitions - The total purchase consideration for the acquisition of Transporeon GmbH was €1.9 billion ($2.1 billion), including the repayment of $339.6 million in outstanding debt[36]. - The company recorded $1,390.1 million of goodwill and $939.8 million of identifiable intangible assets from the Transporeon acquisition[36]. - The company completed the Ag divestiture on April 1, 2024, receiving $1.9 billion in cash proceeds, and recorded a pre-tax gain of $1.7 billion from this transaction[69][81]. - The company repaid $1.0 billion of its variable-rate debt using proceeds from the Ag divestiture, with an outstanding balance of $1.2 billion in variable-rate debt at the end of Q1 2024[71][85]. Revenue Segments - The AECO segment reported revenue of $339.1 million in Q1 2024, a 17.7% increase from $288.1 million in Q1 2023[49]. - The company’s North America segment generated $494.8 million in revenue for Q1 2024, compared to $481.8 million in Q1 2023, marking an increase of approximately 2.1%[49]. - T&L segment revenue grew by 32% to $195.0 million, driven by MAPS and Enterprise subscription revenue growth[107]. - Segment revenue for the first quarter of 2024 reached $953.3 million, up from $915.4 million in the first quarter of 2023, representing a growth of approximately 4.1%[47]. Recurring Revenue - The company is focused on increasing its mix of recurring revenue, which represented 73% of total revenue in Q1 2024, up from 66% in Q1 2023[76]. - Annualized recurring revenue (ARR) of $2,028.6 million, representing a year-over-year growth of 23% at the end of Q1 2024, with organic growth of 13% excluding foreign currency impacts, acquisitions, and divestitures[76]. - The ending balance of deferred revenue increased to $818.6 million in Q1 2024 from $760.8 million in Q1 2023, with billings net of revenue recognized at $356.4 million for Q1 2024[60]. Research and Development - The company plans to continue investing in research and development to introduce new products and enhance recurring revenue streams[5]. - Research and development expenses rose by 7% to $170.2 million, representing 17.9% of total revenue[94]. Tax and Interest - The effective income tax rate increased to 21.6% in Q1 2024 from 19.8% in Q1 2023, primarily due to a decreased tax benefit from foreign-derived intangible income[65]. - A hypothetical 50 basis point increase in interest rates on variable-rate debt would result in an increase of approximately $6.3 million in annual interest expense[136]. Operational Challenges - Macroeconomic conditions, including geopolitical tensions and inflationary pressures, are expected to continue impacting the company's results of operations[84]. - Material weaknesses in internal controls related to the business combination with Transporeon and IT general controls were identified, and remediation actions are currently being taken[142]. - The company is implementing a customer relationship management tool as a strategic initiative to replace legacy systems, which could materially affect internal control over financial reporting[145].

High-level accuracy designed to enhance safety and improve performance for ADAS and C-V2X applicationsWESTMINSTER, Colo., Jan. 6, 2025 /PRNewswire/ -- TrimbleⓇ (Nasdaq: TRMB) announced today it has extended its technology collaboration with Qualcomm Technologies, Inc. to deliver precise positioning solutions for automated vehicles ranging from automobiles to heavy trucking. Trimble's precise positioning engine, Trimble ProPointⓇ Go™, will be integrated with the SnapdragonⓇ Auto 5G Modem-RF Gen 2, a key plat ...

Core Insights - MiniLuxe Holding Corp. has announced its first franchisee partner, Ms. Quynh Pham, who will invest up to $2 million to open multiple MiniLuxe locations over the next three years [1][2][4] Company Overview - MiniLuxe is a lifestyle brand and talent empowerment platform in the beauty and self-care industry, focusing on high-quality nail care and esthetic services [5] - The company aims to transform the fragmented and under-regulated self-care and nail care industry through its brand, standards, and technology [5][6] Franchise Program - The franchise program was launched in the first half of 2024 as part of a strategy to partner with top operators [2] - Ms. Pham's involvement as a franchise partner is expected to scale up to dozens of locations over time [2] Ms. Quynh Pham's Background - Ms. Pham is a successful entrepreneur in Boston's Vietnamese community, with experience in real estate and retail [3] - She has a strong background in finance and human resources, having worked in various sectors including haute-fashion and logistics [3][4] Strategic Goals - MiniLuxe seeks to empower diverse hourly workers through professional development and ownership opportunities [6] - The company has performed over 4 million services since its inception, indicating a strong operational foundation [6]

Integrated approach means less hassle and more support for complete slope stability monitoring solutionsWESTMINSTER, Colo. and BRISBANE, Australia, Dec. 16, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) and GroundProbe, part of Orica Digital Solutions (ASX: ORI) specializing in real-time solutions for measuring and monitoring geohazards, have announced a new collaboration. Instead of working through various suppliers to gain guidance on technology solutions, this joint effort will enable geotechnical mine mo ...

Digitization, cost control and market expansion are among the top priorities for European and North American transportation industryWESTMINSTER, Colo., Dec. 12, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) has announced the release of the annual Transportation Pulse Report by Transporeon, a Trimble Company, which unveils key developments that will shape the transportation and logistics sector in 2025. Members of Indago's supply chain research community and more than 100 European and North American supply ch ...

Performance Food Group migrates 100 percent of its fleet management business to Trimble Instinct, doubling Trimble-serviced trucks WESTMINSTER, Colo., Nov. 21, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) announced today that Performance Food Group Company (PFG) (NYSE:PFGC), one of North America's largest food and foodservice distribution companies, has selected Trimble, as its premier fleet management provider — servicing 100 percent of PFG's fleet business and doubling the number of trucks managed with Tr ...

Nasdaq Delisting Notice - Trimble Inc received a staff delisting determination from Nasdaq due to non-compliance with Nasdaq Listing Rule 5250(c)(1) which requires timely filing of periodic financial reports [1] - The company is delinquent in filing its Quarterly Report on Form 10-Q for the period ended September 27 2024 [2] - The delisting determination was issued because the company failed to file Quarterly Reports on Form 10-Q for the periods ended March 29 2024 June 28 2024 and September 27 2024 by the November 11 2024 deadline [3] Company's Response - The company intends to appeal the staff determination before a Nasdaq Hearing Panel and seek a further stay of any suspension or delisting action pending the hearing process [4] - Hearings are typically scheduled to occur 30 to 45 days after the date of the request and the company may further appeal to the Nasdaq Listing Council for review [4] - The company believes it is well positioned to be granted an extension which would provide additional time to complete work and file financials thereby regaining compliance with Nasdaq Listing Rule [4] Financial Reporting Status - Management has not identified any errors that would require a restatement of financials for the periods presented in the company's Annual Report on Form 10-K originally filed with the SEC on February 26 2024 or for any previously released financial results [6] - Ernst & Young LLP the company's independent registered public accounting firm has not withdrawn its audit report on the financial statements included in the company's Annual Report on Form 10-K [6] - The company is working diligently with EY to complete the assessment of the impacts related to the company's internal controls over financial reporting and EY continues to perform incremental audit procedures responsive to the identified material weaknesses [5] About Trimble - Trimble is a company focused on transforming the ways people move build and live through core technologies in positioning modeling and data analytics [9] - The company's technologies connect the digital and physical worlds to improve customers' productivity quality safety transparency and sustainability [9]

Seven contractors recognized for use of Trimble technology for architecture, engineering and construction workflows, processes and projectsLAS VEGAS, Nov. 12, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) today announced winners of the annual Trimble Construction Innovation Awards, recognizing exceptional use of Trimble technology on workflows, processes and projects by North American customers.Six award categories allowed applicants to highlight any and all types of Trimble construction technology used thro ...

AI advancements extend value of Trimble construction technology and expertise to drive efficiencies in the field and the officeLAS VEGAS, Nov. 11, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) today gave attendees of its annual user conference, Trimble Dimensions, an inside look at the company's latest initiatives to incorporate artificial intelligence (AI) into construction workflows to help automate processes, improve decision making and enhance productivity. With an extensive hardware and software portfol ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...