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May 4, 2023 Source: Trimble news release WESTMINSTER, Colo. -- Trimble Inc. (NASDAQ:TRMB) today announced financial results for the first quarter of 2023. First Quarter 2023 Financial Highlights *Revenue of $915.4 million, down 8 percent on a year-over-year basis, down 3 percent year-over-year on an organic basis Annualized recurring revenue ("ARR") was $1.65 billion, up 12 percent year-over-year, up 13 percent on an organic basis *GAAP operating income was $137.0 million and non-GAAP operating income was $226.1 million *GAAP net income was $128.8 million and non-GAAP net income was $177.9 million *Diluted earnings per share ("EPS") was $0.52 on a GAAP basis and $0.72 on a non-GAAP basis *Adjusted EBITDA of $248.8 million, 27.2 percent of revenue Executive Quote "Record annualized recurring revenue of $1.65 billion and record gross margin of 64.2 percent in the first quarter demonstrates the quality of our Connect and Scale strategy," said Rob Painter, Trimble's president and chief executive officer. "Our first quarter total revenue and profitability exceeded expectations that we communicated to shareholders in February. We are updating 2023 guidance to reflect the Transporeon acquisition, which closed on April 3, 2023." To read the entire report click here. Tweet |
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