Trimble receives expected delisting and deficiency notice from Nasdaq

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released financial results [6] - Ernst & Young LLP the company's independent registered public accounting firm has not withdrawn its audit report on the financial statements included in the company's Annual Report on Form 10-K [6] - The company is working diligently with EY to complete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]