Slide 1: Third Quarter 2023 Results Summary
Trimble Inc. Third Quarter 2023 Results Summary © 2023 Trimble, Inc - All Rights Reserved 1
Slide 2: Third quarter 2023 highlights
Third quarter 2023 highlights Key Messages ● Record ARR, gross margin, EBITDA margin, despite economic uncertainty - ● Announced precision agriculture joint venture with AGCO Connect & Scale ● Simplifying and focusing the business to better execute in light of Strategy macroeconomic headwinds ● $1.9
Slide 3: The AGCO joint venture strengthens and de-risks Trimble's Connect & Scale strategy
The AGCO joint venture strengthens and de-risks Trimble’s Connect & Scale strategy and increases software and recurring revenue mix Simplifies Connect & Scale Enhances Financial Profile De-risks Trimble Ag Strategy and Flexibility Channel Transition ● Streamlines portfolio and ● Software/services/re
Slide 4: Third quarter 2023 financial summary
Third quarter 2023 financial summary ● Organic revenue: +2% y/y $M, Except Per Share Third Quarter of ○ Total revenue: +8% Non-GAAP Highlights 2022 2023 Y/Y Change ○ Currency translation: +1% Revenue $884.9 $957.3 +8% ○ Acquisitions: +6% Gross Margin % of Revenue 60.9% 65.0% +410 bps Adjusted EBITDA
Slide 5: Third quarter revenue by type and geography
Third quarter revenue by type and geography Revenue Growth by Type Revenue by Geography $ Millions Third Quarter of $ Billions Third Quarter of Y/Y Y/Y Y/Y Y/Y 2022 2023 Organic 2022 2023 Organic Change Change Change Change Product North America $488.4 $518.4 +6% +5% (hardware and perpetual $472.5 $
Slide 6: Financial metric highlights
Financial metric highlights Annualized recurring revenue Approx. $1.6B ~$1.94B (+25% growth, +13% organic) Remaining Performance Obligations (backlog)* Free cash flow $134 million Recurring revenue 50% of total revenue Net working capital 66% of TTM revenue is <0% of TTM revenue software/services/re
Slide 7: Third quarter 2023 segment results
Third quarter 2023 segment results Q3’23 Q3’23 Non-GAAP $M Revenue Operating Q3’23 Commentary & Y/Y Growth Income $ / % $395.1, +9% ● Organic ARR growth near 20% Buildings & $113.5 (+6% organic, +1% FX, ● e-Builder, Viewpoint, SketchUp, Tekla all up double digit Infrastructure 28.7% +2% Acquisition)
Slide 8: 2023 Outlook
2023 Outlook Guidance at Guidance at $M August 2023 November 2023 Commentary Full Year 2023 Organic ARR growth +Mid-teens % Approx 13% ● Total ARR approx $2B by end of year ● Full year total growth of +2-3%, organic growth of flat to +1% Revenue $3.845B - $3.925B $3.757B - $3.797B ● Organic growth:
Slide 9: Forward-looking statements
Forward-looking statements Certain statements made in this presentation, and any subsequent Q&A period, are forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended, and are made pursuant to the safe harbor provisions of the Securities Litigatio