Trimble(US:TRMB)2025-11-05 12:03Revenue Performance - Trimble reported record annualized recurring revenue of $2.31 billion, up 6% year-over-year and 14% on an organic basis[9] - Total revenue for Q3 2025 was $901.2 million, representing a 3% increase year-over-year and a 10% increase on an organic basis[9] - Trimble raised its full-year 2025 revenue guidance to between $3,545 million and $3,585 million[4] - For Q4 2025, Trimble expects revenue between $927 million and $967 million, with GAAP earnings per share of $0.59 to $0.67[5] - Segment revenue for AECO in Q3 2025 was $358.5 million, up from $306.0 million in Q3 2024, representing a 17.1% increase[19] Profitability Metrics - GAAP net income for Q3 2025 was $111.5 million, with diluted earnings per share of $0.46[9] - The gross margin for Q3 2025 was 68.9%, compared to 65.7% in Q3 2024[9] - Trimble's GAAP operating income for Q3 2025 was $150.5 million, representing 16.7% of revenue[9] - Non-GAAP operating income for the first three quarters of 2025 was $675.0 million, compared to $653.6 million in 2024, reflecting a 3.4% increase[21] - Non-GAAP gross margin for the first three quarters of 2025 was 70.4%, compared to 66.9% in 2024[21] - GAAP net income for the year was $1,414.2 million, with a non-GAAP net income of $482.9 million[22] - GAAP diluted net income per share was $5.73, while non-GAAP diluted net income per share was $1.96[22] - Adjusted EBITDA for the year reached $702.3 million, representing a 26.0% margin[22] - Non-GAAP operating income for the year was $653.6 million, with a margin of 24.2%[22] - The company reported a GAAP operating income of $287.2 million, reflecting a 10.6% margin[22] Cash Flow and Financing - Operating cash flow decreased to $225.9 million in 2025 from $416.3 million in 2024[17] - The company reported a net cash used in financing activities of $729.3 million in 2025, compared to $1,463.7 million in 2024[17] - The company experienced a net decrease in cash and cash equivalents of $515.1 million in 2025, compared to an increase of $815.1 million in 2024[17] - Free cash flow for the year was $388.8 million, down from $206.2 million in the previous year[22] - Capital expenditures for the year totaled $27.5 million, compared to $19.7 million in the previous year[22] Balance Sheet Highlights - Trimble's total assets as of Q3 2025 were $9,019.6 million, down from $9,488.3 million at year-end 2024[15] - Current liabilities decreased to $1,253.6 million in Q3 2025 from $1,788.0 million at year-end 2024[15] Shareholder Actions - The company repurchased $50 million worth of shares in Q3 2025, totaling $727.4 million year-to-date[9] Future Projections - Forecasted GAAP diluted net income per share for Q4 2025 is projected to be between $0.59 and $0.67[22] - Forecasted non-GAAP diluted net income per share for Q4 2025 is expected to be between $0.91 and $0.99[22] Operational Insights - Operating income for the Field Systems segment in Q3 2025 was $136.7 million, a decrease from $123.7 million in Q3 2024[19] - The company emphasizes the importance of non-GAAP measures for understanding core operating performance and trends[24] - Cash paid for income taxes, excluding tax for the Ag divestiture, was $114.8 million in 2025, up from $81.6 million in 2024[17]