Trimble Inc. · NASDAQ:TRMB

Trimble — Q4 2019 Earnings Presentation

14 slides from Trimble's earnings presentation, Feb 12, 2020

  1. Slide 1: Trimble Fourth Quarter and Full Year 2019 Results Summary

    Trimble Fourth Quarter and Full Year 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: Fourth quarter and full year 2019 highlights

    Fourth quarter and full year 2019 highlights ▪ Fourth quarter non-GAAP revenue of $827 million, +4.3% total, +4% organic (+3% 14th week), +1% M&A, -1% FX ▪ Total year non-GAAP revenue of $3.27B, +4.4% total, +2% organic, +4% M&A, -1.5% FX Financial Highlights – ▪ Annualized recurring revenue of ≈$1.

  4. Slide 4: Financial metric highlights

    Financial metric highlights Annualized recurring revenue ≈$1.13B TTM free cash (+6% growth) flow up +23% $1.9B in TTM software, services TTM research & development and recurring revenue 14.4% of revenue (+15% growth) (>65% of R&D in software) $542M deferred Net working capital revenue balance +24% T

  5. Slide 5: Kuebix Acquisition Highlights (Q1 2020)

    Kuebix Acquisition Highlights (Q1 2020) Transformative Combination of Complementary Strengths Global reach with deep domain The leading shipping community in North Industry’s largest connected network of knowledge and applied transportation America with >21,000 shipper shippers and carriers in the N

  6. Slide 6: Cityworks Acquisition Highlights (Q4 2019)

    Cityworks Acquisition Highlights (Q4 2019) Cityworks Overview Strategic Rationale • Leading provider of Enterprise Asset Management (EAM) software for • Expands Trimble capabilities for accelerating digital transformation across utilities, local governments and utilities in North America. public wor

  7. Slide 7: Recent Innovation

    Recent Innovation XR10 Mixed Reality Hardhat Weedseeker 2 Spot Spray System The only worksite ready mixed reality Hololens Next-gen system, reducing the amount of device in the world herbicide usage by up to 90% X7 3D Laser Scanner R12 GNSS Receiver High-speed 3D laser scanning system with new Impro

  8. Slide 8: Fourth quarter 2019 financial summary

    Fourth quarter 2019 financial summary $M, Except Per Share Fourth Quarter of Non-GAAP Income Statement Highlights 2018 2019 Y/Y Change ▪ Non-GAAP Revenue: +4.3% y/y; Revenue $792.9 $826.7 +4% – Organic +4% (+3% 14th week) Gross Margin % of Revenue 59.5% 59.0% -50bps – Currency translation -1% Adjust

  9. Slide 9: Fiscal year 2019 financial summary

    Fiscal year 2019 financial summary $M, Except Per Share Fiscal Year Non-GAAP Income Statement Highlights 2018 2019 Y/Y Change Revenue $3,132.0 $3,271.3 +4% ▪ Non-GAAP Revenue: +4.4% y/y; Gross Margin % of Revenue 58.0% 57.7% -30bps – Organic +2% Adjusted EBITDA $708.2 $743.0 +5% – Currency translati

  10. Slide 10: Non-GAAP revenue by reporting segment

    Non-GAAP revenue by reporting segment TTM Growth $M Q4’19 Q4’19 vs. Q4’18 Growth % Key Factors CAGR % M&A/ Revenue Organic FX Total 1 Year 3 Year Divestiture  Growth in building and civil construction  +4% from 14th week Buildings & $313.8 +10% +0% -1% +9% +16% +19%  Subscription conversion ahead

  11. Slide 11: Non-GAAP operating income by reporting segment

    Non-GAAP operating income by reporting segment $M, Non-GAAP Q4’19 2019 Q4’19 Y/Y Key Factors Operating Operating Growth vs. Operating Operating Growth vs. income $ income % Q4’18 income $ income % 2018  Software revenue mix and cost Buildings & Infrastructure $91.1 29.0% +26% $319.9 25.4% +25% redu

  12. Slide 12: 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 $1,857M $1,515M $3,271M $1,117M $740M $1,414M $3,132M $937M $1,617M $680M TTM Q4'17 TTM TTMQ4’18 Q4’19 TTM Q4'18 TTM TTMQ4’18 TTMQ4'18 Q4'17 TTM Q4’19 TTM Q4'17 TTM

  13. Slide 13: Guidance and outlook

    Guidance and outlook ▪ Non-GAAP revenue of $780 to $810 million ▪ -3% to +1% total growth; -4% to 0% organic, +1% M&A, -1% FX First ▪ Non-GAAP EPS of $0.40 to $0.45 per share Quarter ▪ Income from equity method investments ≈$7M 2020 ▪ Net interest expense ≈$20M ▪ Non-GAAP tax rate of 17-18%, 252M sh

  14. Slide 14: Q&A

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