Trimble Inc. · NASDAQ:TRMB

Trimble — Q1 2019 Earnings Presentation

12 slides from Trimble's earnings presentation, May 1, 2019

  1. Slide 1: Trimble First Quarter 2019 Results Summary

    Trimble First Quarter 2019 Results Summary

  2. 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

  3. Slide 3: Agenda

    Agenda ▪ CEO Overview ▪ CFO Review of Results ▪ Guidance ▪ Q&A 3

  4. Slide 4: First quarter 2019 overview

    First quarter 2019 overview ▪ First quarter non-GAAP revenue of $805 million, up 8% total, +3% organic Financial ▪ Annualized recurring revenue of ≈$1.07 billion, up 30% Highlights ▪ Adjusted EBITDA margins of 21.4%, up 60 basis points ▪ Free cash flow up 38% on a trailing twelve month basis ▪ 3-4-3

  5. Slide 5: First quarter 2019 financial summary

    First quarter 2019 financial summary $M, Except Per Share First Quarter of ▪ Non-GAAP Revenue: +8% y/y; Non-GAAP Income Statement Highlights 2018 2019 Y/Y Change – Organic +3% Revenue $745.1 $804.5 +8% – Currency translation –2% Gross Margin % of Revenue 57.1% 58.0% +90bps – Acquisitions/divestiture

  6. Slide 6: Financial metric highlights

    Financial metric highlights Annualized recurring $1.7B in TTM software, services TTM free cash revenue ≈$1.07B and recurring revenue flow up +38% (+30% growth) (+28% growth) TTM research & development Approx. $1.1B backlog 14.3% of revenue (>65% of R&D in software) $464M deferred Net working capital

  7. Slide 7: Non-GAAP revenue by reporting segment

    Non-GAAP revenue by reporting segment TTM Growth $M Q1’19 Q1’19 vs. Q1’18 Growth % Key Factors CAGR % M&A/ Revenue Organic FX Total 1 Year 3 Year Divestiture  Strength in end-user sales in both civil and building construction Buildings & $294.7 +11% +21% -3% +30% +33% +18%  Subscription conversion

  8. Slide 8: Non-GAAP revenue by region

    Non-GAAP revenue by region % of Total % Change Q1’18 Q1’19 Y/Y Quarterly Y/Y TTM North America 52% 52% +10% +16% Europe 30% 31% +10% +19% Asia-Pacific 13% 12% -1% +7% Rest of World 5% 5% +3% +2% Total 100% 100% +8% +15% Figures may vary due to rounding. 8

  9. Slide 9: Non-GAAP revenue mix, trailing 12 month growth

    Non-GAAP revenue mix, trailing 12 month growth [ Recurring + Software & Services = SW, Services, Recurring ] + Hardware = Total Revenue $1,704M $1,487M $3,191M $998M $706M $1,449M $2,783M $776M $1,334M $558M TTM Q4'17 TTM TTMQ1’18 Q1’19 TTM Q4'18 TTM TTMQ1’18 TTMQ4'18 Q4'17 TTM Q1’19 TTM Q4'17 TTM T

  10. Slide 10: Non-GAAP operating income by reporting segment

    Non-GAAP operating income by reporting segment TTM Growth $M, Non-GAAP Q1’19 TTM Q1’19 Q1’19 Y/Y Key Factors CAGR % Operating Operating Growth vs. Operating Operating 1 Year 3 Year income $ income % Q1’18 income $ income %  Mix transitioning to higher Buildings & Infrastructure $62.5 21.2% +37% $27

  11. Slide 11: Guidance and outlook

    Guidance and outlook ▪ Non-GAAP revenue of $850-$880 million ▪ +8-12% total growth; +3-7% organic, +7% M&A, -2% FX Second ▪ Non-GAAP EPS of $0.52 to $0.56 Quarter 2019 ▪ Income from equity method investments ≈$11M ▪ Net interest expense ≈$21M ▪ Non-GAAP tax rate of 20%, 254M shares outstanding Fisca

  12. Slide 12: Q&A

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