Slide 1: Trimble Inc. First Quarter 2025 Earnings Summary
Trimble Inc. First 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 Q1’25 Highlights 02 Q1’25 Financial Results 03 Segment Financial Results 04 FY'25 + Q2'25 Financial Outlook Rob Painter Phil Sawarynski President and Chief Chief Executive Officer Financial Officer 3
Slide 4: Business model durability at Trimble
Business model durability at Trimble Mission critical and high ROI solutions delivering productivity and efficiency Resilient P&L(1,2) ≈79% Software, services, recurring ≈71-72% Non-GAAP Gross Margins ≈66% Recurring ≈28-29% Adjusted EBITDA Margins ≈17% Organic ARR growth in Q1’25 Available discretiona
Slide 5: Q1'25 Financial Highlights
Q1'25 Financial Highlights AS-REPORTED AS-ADJUSTED(1) $841M $818M Revenue +2% organic +3% organic above high-end of guidance (+10% ex Jan 1 impact)(3) $2,176M $2,111M ARR +15% organic above +17% organic high-end of guidance $0.61 Non-GAAP EPS(2) NA at high-end of guidance Q1'25 Revenue 1. As-adjuste
Slide 6: Artificial Intelligence at Trimble
Artificial Intelligence at Trimble Strategic Framework: Use and Impact Customer Facing Innovations Automate creation Automatic Invoicing Augment internal Customer facing of objects in SketchUp with Microsoft Azure teams and innovations Revenue processes to drive driving net revenue retention Augment
Slide 7: Q1'25 Summary
Q1'25 Summary Highlights / Drivers ● Q1’25 organic revenue and ARR FIRST QUARTER, AS-ADJUSTED(1,2) growth were ahead of expectations, driven by strong ($M) Q1’25 Q1’24 YoY YoY, Ex. 1/1/24(3) AECO growth and better than expected growth in Field Systems Revenue $818 $790 +3% organic +10% organic and T
Slide 8: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Year-To-Date Cash Flow Balance Sheet ($M) 2025 2024 ($M) Q1’25 Actual Operating Cash Flow $156 $234 Cash and Equivalents $290 Total Debt $1,391 Capital Expenditures $7 $7 Net Debt $1,101 (2) Free Cash Flow $149 $227 TTM As-Adjusted EBITDA(1) $871 Net Debt / TTM As-Adjuste
Slide 9: AECO
AECO (Architects, Engineers, Construction, Owners) Highlights / Drivers FIRST QUARTER, AS-ADJUSTED YoY, Ex. ● Revenue, ARR, and operating ($M) Q1’25 Q1’24 YoY 1/1/24(2) margin ahead of expectations ● +19% organic ARR growth; Revenue $335 $339 +0% organic +17% organic continued strong bookings growth
Slide 10: Field Systems
Field Systems Highlights / Drivers FIRST QUARTER, AS-ADJUSTED(1,2) ($M) Q1’25 Q1’24 YoY ● Revenue, ARR, and operating profit were ahead of expectations Revenue $359 $334 +6% organic ● Strength in Civil Construction in ARR $358 $288 +25% organic all regions ● ARR growth driven by Positioning Operating
Slide 11: Transportation & Logistics
Transportation & Logistics Highlights / Drivers FIRST QUARTER, AS-ADJUSTED(1,2) ($M) Q1’25 Q1’24 YoY YoY, Ex. 1/1/24(3) ● As-adjusted results exclude Mobility which was divested on February 8, 2025 Revenue $123 $116 +5% organic +6% organic ● 7% organic ARR growth ARR $459 $425 +7% organic +7% organi
Slide 12: FY'25 Outlook
FY'25 Outlook FY'25 Outlook Notes ● Maintaining full year guidance AS-REPORTED AS-ADJUSTED(1) ● Outlook includes the impact of tariffs Annualized Recurring +12% to +14% +13% to +15% Revenue (ARR) (organic) (organic) and offsetting surcharges Revenue $3.37 to $3.47B $3.35 to $3.45B ● Operating margins
Slide 13: FY'25 Segment Details
FY'25 Segment Details FY'25 Segment Details and Outlook (As-Adjusted)(1) AECO FIELD SYSTEMS T&L ≈$1.465B ≈$1.42B ≈$515M Revenue (FY’24=$1.283B) (FY’24=$1.447B) (FY’24=$479M) Organic revenue growth Y/Y % +Mid-teens % -LSD % +MSD % Organic ARR growth Y/Y % +Mid-teens % +Low/mid-teens % +HSD % Operatin
Slide 14: Q2'25 Outlook
Q2'25 Outlook Q2’25 Outlook Notes ● Net interest expense ≈$20M, avg. AS-REPORTED AS-ADJUSTED(1) share count of 239M, tax rate of Annualized Recurring +12% to +13% +13% to +15% 17.2% Revenue (ARR) (organic) (organic) Revenue $815 to $845M $815 to $845M Total Growth (6%) to (3%) +2% to +6% Q1 2025 Out
Slide 15: Appendix & Reconciliations
Appendix & Reconciliations © 2025 Trimble, Inc - All Rights Reserved
Slide 16: Historical segment financials (as-reported)
Historical segment financials (as-reported) Revenue ($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 AECO $243 $222 $226 $251 $942 $288 $264 $270 $289 $1,111 $339 $300 $306 $414 $1,359 $335 Field Systems 596 575 520 461 2,151 480 541 495 452 1,968
Slide 17: Historical revenue growth metrics (as-reported)
Historical revenue growth metrics (as-reported) AECO Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Organic 17% 15% 15% 14% 15% 18% 14% 13% 43% 22% 0% Acquisitions 5% 6% 4% 1% 4% 0% 0% 1% 0% 0% 0% Divestitures 0% -1% -1% -1% -1% -1% -1% -1% -1% -1% 0% Foreign Currency -3% -1% 1% 1
Slide 18: Historical ARR growth metrics (as-reported)
Historical ARR growth metrics (as-reported) ARR ($MMs) Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 AECO $924 $985 $1,022 $1,067 $1,094 $1,164 $1,210 $1,269 $1,294 Field Systems 273 283 290 289 304 308 328 341 358 Transportation & Logistics 451 614 624 626 631 641 649 649 525 Total $1,648 $
Slide 19: Historical segment financials (as-adjusted)
Historical segment financials (as-adjusted) Agriculture Business ($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 Revenue $172 $151 $134 $122 $579 $146 $134 $119 $110 $508 $85 NA NA NA $85 NA Operating Income 54 49 45 43 191 56 42 40 33 171 8 NA N
Slide 20: Historical segment financials (as-adjusted)
Historical segment financials (as-adjusted) Revenue (as-adjusted) ($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 excluding agriculture, mobility & 53rd wk AECO $243 $222 $226 $251 $942 $288 $264 $270 $289 $1,111 $339 $300 $306 $338 $1,283 $335 F
Slide 21: Historical revenue growth metrics (as-adjusted)
Historical revenue growth metrics (as-adjusted) AECO (As-Adjusted) Q1-23 Q2-23 Q3-23 Q4-23 FY-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Q1-25 Organic 17% 15% 15% 14% 15% 18% 14% 13% 17% 16% 0% Acquisitions 5% 6% 4% 1% 4% 0% 0% 0% 0% 0% 0% Divestitures -1% -1% -1% -1% -1% -1% -1% -1% -1% -1% 0% Foreign Curren
Slide 22: Historical ARR growth metrics (as-adjusted)
Historical ARR growth metrics (as-adjusted) ARR ($MMs) Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 AECO $924 $985 $1,022 $1,067 $1,094 $1,164 $1,210 $1,269 $1,294 Field Systems 255 266 274 281 288 308 328 341 358 Transportation & Logistics 242 405 411 420 425 435 444 446 459 Total $1,421 $
Slide 23: 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 Revenue, As-Reported $994 $941 $885 $857 $3,676 $915 $994 $957 $932 $3,799 $953 $871 $876 $983 $3,683 $841 Less: Agriculture (172) (151) (134) (122) (579) (146) (134) (