Trimble Inc. announced financial results for the first quarter of 2025.
First Quarter 2025 Financial Highlights
- Revenue of $840.6 million, down 12 percent on a year-over-year basis, up 2 percent on an organic basis
- Annualized recurring revenue ("ARR") was $2.18 billion, up 7 percent year-over-year, up 15 percent on an organic basis
- GAAP operating income was $97.5 million, 11.6 percent of revenue and non-GAAP operating income was $198.2 million, 23.6 percent of revenue
- GAAP net income was $66.7 million and non-GAAP net income was $151.4 million
- Diluted earnings per share ("EPS") was $0.27 on a GAAP basis and $0.61 on a non-GAAP basis
- Adjusted EBITDA was $212.1 million, 25.2 percent of revenue
- Share repurchase of $627.4 million
Executive Quote
"We began the year with strong momentum, delivering a first quarter record annualized recurring revenue of $2.18 billion and surpassing expectations on both top and bottom lines," said Rob Painter, president and CEO of Trimble. "With current market uncertainties in mind, we are maintaining our full year 2025 guidance, reflecting our strong performance, durable business model and clarity of purpose."
Forward-Looking Guidance
For the full-year 2025, Trimble expects to report revenue between $3,370 million and $3,470 million, GAAP earnings per share of $1.43 to $1.64, and non-GAAP earnings per share of $2.76 to $2.98. GAAP guidance assumes a tax rate of 21.0 percent and non-GAAP guidance assumes a tax rate of 17.2 percent. Both GAAP and non-GAAP earnings per share assume approximately 241 million shares outstanding.
For the second quarter of 2025, Trimble expects to report revenue between $815 million and $845 million, GAAP earnings per share of $0.26 to $0.32, and non-GAAP earnings per share of $0.59 to $0.65. GAAP guidance assumes a tax rate of 21.0 percent and non-GAAP guidance assumes a tax rate of 17.2 percent. Both GAAP and non-GAAP earnings per share assume approximately 239 million shares outstanding.
Full-year 2025 guidance reflects the closing of the mobility divestiture, which closed on February 8, 2025. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.
Investor Conference Call / Webcast Details
Trimble will hold a conference call on May 7, 2025 at 8:00 a.m. ET to review its first quarter of 2025 results. An accompanying slide presentation will be made available on the "Investors" section of the Trimble website, https://www.trimble.com, under the subheading "Events & Presentations." The call will be broadcast live on the web at https://investor.trimble.com. Investors and participants who wish to dial into the call may do so by first registering at https://registrations.events/direct/Q4I84113721. Upon registration, dial-in details will be sent via email to the registrant. A replay will also be available on the web at the address above.
