Slide 1: Trimble Inc. Second Quarter 2023 Results Summary
Trimble Inc. Second Quarter 2023 Results Summary © 2023 Trimble, Inc - All Rights Reserved 1
Slide 2: Second quarter 2023 highlights
Second quarter 2023 highlights ● Record ARR and gross margin expansion year over year, despite economic Key Messages uncertainty - ● Capital allocation towards business transformation is enabling ARR, ACV Connect & Scale bookings, and cross-sell ACV bookings growth Strategy ● Hardware supply chains
Slide 3: Progress and proof points on the Connect & Scale journey
Progress and proof points on the Connect & Scale journey Buildings & Infrastructure Resources & Utilities ● Trimble Construction One offering is powering new logo and cross sell ● Building out aftermarket channel in Agriculture to gain dealer bookings - higher win rates, larger deal sizes, shorter s
Slide 4: Connect & Scale and Artificial Intelligence at Trimble
Connect & Scale and Artificial Intelligence at Trimble Internal facing examples Customer facing examples ● R&D ● Geospatial ○ Documentation ○ Feature extraction & change detection from images & point clouds ○ Coding (CoPilot) and linking to automated work orders ● Sales ○ Improve positioning accurac
Slide 5: Second quarter 2023 financial summary
Second quarter 2023 financial summary ● Organic revenue: +3% y/y $M, Except Per Share Second Quarter of ○ Total revenue: +6% y/y Non-GAAP Highlights 2022 2023 Y/Y Change ○ Currency translation: 0% Revenue $941.2 $993.6 +6% ○ Acquisitions: +6% Gross Margin % of Revenue 59.7% 64.2% +450 bps Adjusted E
Slide 6: Second quarter revenue by type and geography
Second quarter revenue by type and geography Revenue Growth by Type Revenue by Geography $ Millions Second Quarter of $ Billions Second Quarter of Y/Y Y/Y Y/Y Y/Y 2022 2023 Organic 2022 2023 Organic Change Change Change Change Product North America $512.9 $525.6 +2% +3% (hardware and perpetual $531.
Slide 7: Second quarter 2023 segment results
Second quarter 2023 segment results Q2’23 Q2’23 Non-GAAP $M Revenue Operating Q2’23 Commentary & Y/Y Growth Income $ / % $410.0, +7% Buildings & $105.8 ● Organic ARR growth over 20% (+6% organic, 0% FX, Infrastructure 25.8% ● Civil Construction HW revenue down Y/Y due to channel inventory dynamics +
Slide 8: Financial metric highlights
Financial metric highlights Annualized recurring revenue Approx. $1.6B Remaining Performance ~$1.88B (+24% growth, +14% organic) Obligations (backlog) TTM research & development Free cash flow $130 million 16.3% of TTM revenue (>65% of R&D in software) Net working capital 64% of TTM revenue is <0% o
Slide 9: 2023 Outlook
2023 Outlook ● Maintaining revenue and ARR guidance, increasing EPS guidance Guidance at Guidance at $M May 2023 August 2023 Commentary Full Year 2023 ● Organic growth +mid teens by Q4 Organic ARR growth +Mid-teens% +Mid-teens% ● Total ARR approx $2B by end of year ● Full year organic growth of 2-5%
Slide 10: 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