Third Quarter 2020 Financial Highlights
Trimble achieved GAAP revenue of $792.1 million, up 1 percent year over year, and non-GAAP revenue of $792.8 million, up 1 percent year over year
Annualized recurring revenue (ARR) was $1.26 billion, up 10 percent year over year
GAAP operating income was $102.0 million, and non-GAAP operating income was $191.8 million
GAAP net income was $84.7 million and non-GAAP net income was $152.8 million
Diluted earnings per share was $0.34 on a GAAP basis, and $0.60 on a non-GAAP basis
Adjusted EBITDA of $212.5 million, 26.8 percent of revenue
Operating cash flow on a trailing twelve months basis was $605.9 million, up 7 percent year over year
Executive Quote
"Trimble is transforming the way the world works by delivering solutions that connect the physical and digital worlds," said Rob Painter, Trimble's president and chief executive officer. "Our strong third quarter results demonstrate that Trimble technology is enabling customers to do their work more productively and sustainably. Despite a challenging macroeconomic environment, the Trimble financial model proved resilient and we will continue to focus on executing our Connect & Scale 2025 strategy."
Forward Looking Guidance
Trimble's financial results for the remainder of 2020 will be impacted by continued global economic uncertainty due to the COVID-19 pandemic. As such, Trimble is not providing a financial outlook for the fourth quarter of 2020 at this time.
Investor Conference Call / Webcast Details
Trimble will hold a conference call on November 4 at 2:00 p.m. PT to review its third quarter 2020 results. An accompanying slide presentation will be made available on the "Investors" section of the Trimble website, www.trimble.com, under the subheading "Events & Presentations." The call will be broadcast live on the web at http://investor.trimble.com. Investors without internet access may dial into the call at (800) 528-9198 (U.S.) or (702) 928-6633 (international). The passcode is 9772188. The replay will also be available on the web at the address above.
