Trimble Q1 2023 Earnings Report
Key Takeaways
Trimble's first quarter 2023 results showcased strong performance with revenue and profitability surpassing expectations. The company achieved a record annualized recurring revenue of $1.65 billion and a record gross margin of 64.2 percent, highlighting the success of its Connect and Scale strategy. Total revenue for the quarter was $915 million.
Record annualized recurring revenue of $1.65 billion, up 13 percent on an organic basis.
First quarter total revenue of $915 million, down 8 percent year-over-year.
Record GAAP gross margin of 61.3 percent and record non-GAAP gross margin of 64.2 percent.
Updated 2023 guidance to reflect the Transporeon acquisition.
Trimble
Trimble
Trimble Revenue by Segment
Forward Guidance
For the full-year 2023, Trimble now expects to report revenue between $3,835 million and $3,935 million and non-GAAP EPS of $2.52 to $2.72. For the second quarter of 2023, Trimble expects to report revenue between $962 million and $992 million and non-GAAP EPS of $0.55 to $0.61.
Revenue & Expenses
Visualization of income flow from segment revenue to net income