Trimble Inc. (TRMB) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Trimble First Quarter 2025 Financial Results Conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. As a reminder, this call is being recorded. I would now like to turn the call over to Rob Painter, President and CEO. Rob, you may begin. Welcome, everyone. Before I get started, our presentation and safe harbor statement are available on our website. Our financial review will focus on year-over-year non-GAAP performance metrics on an organic basis. In addition, we will focus on adjusted numbers that we believe more accurately portray the underlying performance of our business. This means we will exclude our divested agriculture and mobility businesses. We also adjust for the approximately $50 million of January 1st term license revenue that was recognized in the first quarter of 2024, but not in the first quarter of 2025 because January 1st of 2025 fell into the fiscal fourth quarter of 2024. We exited 2024 on a strong footing, strategically, operationally, and financially. The results of the first quarter of 2025 are further evidence of the strength of our business. To understand how we are positioned to navigate the uncertainty of the moment is to understand the quality of our performance in the first quarter, which can be expressed in three words, clarity, durability, and momentum. Clarity manifests as the simplification and focus we have brought to our business over the last few years. On February 8th, we closed the sale of our transportation and mobili...