Core Insights - Trimble Inc. reported record annualized recurring revenue of $2.21 billion for Q2 2025, exceeding expectations on both revenue and earnings, indicating strong business momentum and validation of its Connect & Scale strategy [2][9] - The company raised its full-year 2025 revenue guidance to a range of $3,480 million to $3,560 million, reflecting positive performance in the first half of the year [3][9] Financial Performance - Q2 2025 revenue was $875.7 million, a 1% increase year-over-year and an 8% increase on an organic basis [9] - GAAP operating income for Q2 2025 was $127.8 million, representing 14.6% of revenue, while non-GAAP operating income was $222.6 million, or 25.4% of revenue [9] - GAAP net income was $89.2 million, with diluted earnings per share (EPS) of $0.37; non-GAAP net income was $169.4 million, with non-GAAP diluted EPS of $0.71 [9] Guidance and Expectations - For Q3 2025, Trimble expects revenue between $850 million and $890 million, with GAAP EPS projected at $0.34 to $0.43 and non-GAAP EPS at $0.67 to $0.75 [4] - The full-year 2025 guidance assumes a tax rate of 21.0% for GAAP and 17.4% for non-GAAP, with approximately 242 million shares outstanding [3][4] Segment Performance - The company reported segment revenues of $350.3 million for AECO, $392.7 million for Field Systems, and $132.7 million for T&L in Q2 2025 [15] - Operating income percentages for segments were 30.4% for AECO, 30.8% for Field Systems, and 21.6% for T&L [15] Cash Flow and Capital Management - Trimble generated $102.1 million in net cash from operating activities in the first half of 2025, with free cash flow of $89.6 million [14][28] - The company repurchased $50 million of its common stock in Q2 2025, totaling $677.4 million year-to-date [9]

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].