Slide 1: Second Quarter 2025 Earnings Summary
Trimble Inc. Second Quarter 2025 Earnings Summary © 2025 Trimble, Inc - All Rights Reserved
Slide 2: 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 Litigation
Slide 3: Today's Agenda
Today's Agenda 01 Q2’25 Highlights 02 Q2’25 Financial Results 03 Segment Financial Results 04 FY'25 + Q3'25 Financial Outlook Rob Painter Phil Sawarynski President and Chief Chief Executive Officer Financial Officer 3
Slide 4: Connect & Scale is a customer-driven strategy with flywheel potential
Connect & Scale is a customer-driven strategy with flywheel potential Customer-driven strategy to unlock the growth potential of Trimble at the intersection of product, go-to-market and technology Underlying systems and processes enable scale, Best point solutions efficiency and insights in the market,
Slide 5: Q2'25 Financial Highlights
Q2'25 Financial Highlights AS-REPORTED AS-ADJUSTED(1,2) $876M $876M Revenue +8% organic +9% organic above high-end of guidance above high-end of guidance $2,210M $2,210M ARR +13% organic +14% organic in-line with guidance in-line with guidance $0.71 Non-GAAP EPS(3) NA above high-end of guidance Q2'2
Slide 6: Q2'25 Summary
Q2'25 Summary Highlights / Drivers ● Q2’25 organic revenue and ARR SECOND QUARTER, AS-ADJUSTED(1,2) growth were ahead of expectations, driven by strong ($M) Q2’25 Q2’24 YoY AECO growth and better than expected growth in Field Systems Revenue $876 $796 +9% organic and T&L ● Non-GAAP gross margin and
Slide 7: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Year-To-Date Cash Flow Balance Sheet ($M) 2025 2024 ($M) Q2’25 Actual Operating Cash Flow $102 $321 Cash and Equivalents $266 Capital Expenditures $12 $21 Total Debt $1,512 (2) Free Cash Flow $90 $300 Net Debt $1,246 TTM As-Adjusted EBITDA(1) $907 Q2/YTD operating and fre
Slide 8: AECO
AECO (Architects, Engineers, Construction, Owners) Highlights / Drivers SECOND QUARTER(1) ($M) Q2’25 Q2’24 YoY ● Revenue, ARR, and operating margin ahead of expectations Revenue $350 $300 +16% organic ● +16% organic ARR growth and continued solid bookings growth ARR $1,360 $1,164 +16% organic ● Stro
Slide 9: Field Systems
Field Systems Highlights / Drivers SECOND QUARTER(1) ($M) Q2’25 Q2’24 YoY ● Revenue and operating profit were ahead of expectations Revenue $393 $379 +3% organic ● Strong growth in Civil Construction ● ARR growth continues to be driven by ARR $358 $308 +17% organic strength in our WorksPlus machine c
Slide 10: Transportation & Logistics
Transportation & Logistics Highlights / Drivers SECOND QUARTER, AS-ADJUSTED(1,2) ($M) Q2’25 Q2’24 YoY ● As-adjusted results exclude Mobility which was divested on February 8, 2025 Revenue $133 $117 +8% organic ● 8% organic ARR growth, ARR $492 $435 +8% organic improved from Q1’25 ● Maps and Transpor
Slide 11: Updated FY'25 Outlook
Updated FY'25 Outlook FY'25 Outlook Notes Italics = comparison to May 2025 Guidance AS-REPORTED AS-ADJUSTED(1) ● Increasing full year guidance by $100M revenue, $0.11 EPS at midpoint. Organic ARR Growth +12% to +14% +13% to +15% unchanged unchanged ● Operating margins are expected to increase $3.48
Slide 12: Updated FY'25 Segment Details
Updated FY'25 Segment Details FY'25 Segment Details and Outlook (As-Adjusted)(1) Italics = comparison to May 2025 Guidance AECO FIELD SYSTEMS T&L ≈$1.490B ≈$1.480B ≈$525M Revenue (FY’24=$1.283B) (FY’24=$1.447B) (FY’24=$479M) +$25M +$60M +$10M Organic revenue growth Y/Y % +Mid-teens % Flat +MSD% unch
Slide 13: Q3'25 Outlook
Q3'25 Outlook Q3’25 Outlook Notes ● Net interest expense ≈$21M AS-REPORTED AS-ADJUSTED(1) ● Avg. share count of 240M Organic ARR Growth +12% to +13% +13% to +15% ● Tax rate of 17.5% Revenue $850 to $890M $850 to $890M Total Growth (3%) to 2% 6% to 11% Q1 2025 Outlook Organic Growth 4% to 8% 4% to 9%
Slide 14: Appendix & Reconciliations
Appendix & Reconciliations © 2025 Trimble, Inc - All Rights Reserved
Slide 15: Historical segment financials (as-reported)
Historical segment financials (as-reported) Revenue ($MMs) Q1-22 Q2-22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Q2-25 AECO $243 $222 $226 $251 $942 $288 $264 $270 $289 $1,111 $339 $300 $306 $414 $1,359 $335 $350 Field Systems 596 575 520 461 2,151 480 541 49
Slide 16: Historical revenue growth metrics (as-reported)
Historical revenue growth metrics (as-reported) AECO Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Q2-25 Organic 17% 15% 15% 14% 15% 18% 14% 13% 43% 22% 0% 16% Acquisitions 5% 6% 4% 1% 4% 0% 0% 1% 0% 0% 0% 0% Divestitures 0% -1% -1% -1% -1% -1% -1% -1% -1% -1% 0% 0% Foreign Curre
Slide 17: Historical ARR growth metrics (as-reported)
Historical ARR growth metrics (as-reported) ARR ($MMs) Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 AECO $924 $985 $1,022 $1,067 $1,094 $1,164 $1,210 $1,269 $1,294 $1,360 Field Systems 273 283 290 289 304 308 328 341 358 358 Transportation & Logistics 451 614 624 626 631 641 649 649 5
Slide 18: Historical segment financials (as-adjusted)
Historical segment financials (as-adjusted) Agriculture ($MMs) Q1-22 Q2-22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Q2-25 Revenue $172 $151 $134 $122 $579 $146 $134 $119 $110 $508 $85 NA NA NA $85 NA NA Operating Income 54 49 45 43 191 56 42 40 33 171 8 NA N
Slide 19: Historical segment financials (as-adjusted)
Historical segment financials (as-adjusted) Revenue (as-adjusted) ($MMs) Q1-22 Q2-22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Q2-25 excluding agriculture, mobility & 53rd wk AECO $243 $222 $226 $251 $942 $288 $264 $270 $289 $1,111 $339 $300 $306 $338 $1,283
Slide 20: Historical revenue growth metrics (as-adjusted)
Historical revenue growth metrics (as-adjusted) AECO (as-adjusted) Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Q2-25 Organic 17% 15% 15% 14% 15% 18% 14% 13% 17% 16% 0% 16% Acquisitions 5% 6% 4% 1% 4% 0% 0% 0% 0% 0% 0% 0% Divestitures -1% -1% -1% -1% -1% -1% -1% -1% -1% -1% 0% 0
Slide 21: Historical ARR growth metrics (as-adjusted)
Historical ARR growth metrics (as-adjusted) ARR ($MMs) Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 AECO $924 $985 $1,022 $1,067 $1,094 $1,164 $1,210 $1,269 $1,294 $1,360 Field Systems 255 266 274 281 288 308 328 341 358 358 Transportation & Logistics 242 405 411 420 425 435 444 446 4
Slide 22: As-adjusted reconciliation
As-adjusted reconciliation $ in MMs Q1-22 Q2-22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Q2-25 Revenue, As-Reported $994 $941 $885 $857 $3,676 $915 $994 $957 $932 $3,799 $953 $871 $876 $983 $3,683 $841 $876 Less: Agriculture (172) (151) (134) (122) (579) (1