Trimble(US:TRMB)2026-02-10 12:04Revenue Performance - Trimble reported record annualized recurring revenue of $2.39 billion, up 6% year-over-year, and 14% on an organic basis[8]. - Fourth quarter revenue was $970 million, down 1% year-over-year, but up 4% on an organic basis[8]. - Total revenue for fiscal 2025 was $3,587.3 million, down 3% year-over-year, but up 6% on an organic basis[9]. - Total revenue for 2025 was $3,587.3 million, a decline from $3,683.3 million in 2024[23]. - Segment revenue for AECO in Q4 2025 reached $454.4 million, up from $413.8 million in Q4 2024, representing a growth of 9.5%[21]. Income and Earnings - GAAP operating income for Q4 was $216.2 million, representing 22.3% of revenue, while non-GAAP operating income was $313.1 million, or 32.3% of revenue[8]. - Trimble's GAAP net income for Q4 was $156.6 million, with diluted earnings per share of $0.65[8]. - Net income for 2025 was $424.0 million, a decrease from $1,504.4 million in 2024[19]. - GAAP net income for the latest quarter was $156.6 million, compared to $90.2 million in the previous quarter, and $424.0 million in the same quarter last year[24]. - Non-GAAP net income reached $240.8 million, up from $221.5 million quarter-over-quarter, and $756.3 million year-over-year[24]. Cash Flow and Share Repurchase - Operating cash flow for 2025 was $386.2 million, down from $531.4 million in 2024[19]. - The company repurchased approximately 1.9 million shares for $148.1 million during Q4 2025[8]. - The company repurchased $863.4 million in common stock during 2025, compared to $175.0 million in 2024[19]. - Free cash flow for the latest quarter was $360.9 million, down from $497.8 million in the previous quarter[24]. - The company reported a net cash decrease of $494.4 million in 2025, contrasting with a net increase of $508.9 million in 2024[19]. Future Guidance - For full-year 2026, Trimble expects revenue between $3,810 million and $3,910 million, with GAAP earnings per share guidance of $2.04 to $2.23[4]. - In Q1 2026, Trimble anticipates revenue between $893 million and $918 million, with GAAP earnings per share of $0.32 to $0.36[5]. - Forecasted GAAP diluted net income per share for the first quarter of 2026 is projected to be between $0.32 and $0.36[24]. - Non-GAAP diluted net income per share is expected to range from $0.69 to $0.74 for the first quarter of 2026[24]. Operating Metrics - Adjusted EBITDA for Q4 was $324.8 million, representing 33.5% of revenue[8]. - Non-GAAP gross margin for Q4 2025 was $723.3 million, or 74.6% of revenue, compared to $705.2 million, or 71.7% in Q4 2024[23]. - Operating income for the Field Systems segment in 2025 was $478.1 million, with an operating income margin of 31.1%[21]. - Non-GAAP operating income was $313.1 million, reflecting a 32.3% margin, compared to $283.6 million and a 28.8% margin in the previous quarter[24]. - The company reported a GAAP operating income of $216.2 million, which is a 22.3% margin, compared to $173.5 million and a 17.6% margin in the previous quarter[24]. Asset Management - Trimble's total assets at the end of 2025 were $9,312.0 million, a decrease from $9,488.3 million in 2024[17]. - Cash paid for income taxes in 2025, excluding tax for the Ag divestiture, was $150.1 million, compared to $106.1 million in 2024[19]. - The effect of exchange rate changes on cash and cash equivalents resulted in a gain of $24.8 million in 2025[19]. Non-GAAP Measures - The company emphasizes the importance of non-GAAP measures to provide a clearer view of core operating performance, excluding non-recurring items[26].