Trimble Announces Second Quarter 2026 Results and Raises Full Year Guidance

• Record annualized recurring revenue, reflecting ongoing execution of the Connect & Scale strategy
• Record second quarter gross margins
• Second quarter results exceeded expectations
• Raising full year 2026 revenue and earnings guidance
• Board of Directors approves new share repurchase authorization of $1.0 billion

WESTMINSTER, Colo., Aug. 12, 2026 /PRNewswire/ — Trimble Inc. (Nasdaq: TRMB) today announced financial results for the second quarter of 2026.

Second Quarter 2026 Financial Highlights

• Revenue of $972.0 million, up 11 percent on a year-over-year basis, up 10 percent on an organic basis
• Annualized recurring revenue (“ARR”) was $2.51 billion, up 14 percent year-over-year, up 12 percent on an organic basis
• GAAP operating income was $132.0 million, 13.6 percent of revenue, and non-GAAP operating income was $260.6 million, 26.8 percent of revenue
• GAAP net loss was $(471.7) million and non-GAAP net income was $200.3 million: the GAAP net loss was driven largely by a $562.0 million impairment of goodwill related to the Transportation and Logistics (“T&L”) segment.
• Diluted loss per share was $(2.02) on a GAAP basis and diluted earnings per share was $0.86 on a non-GAAP basis
• Adjusted EBITDA was $278.0 million, 28.6 percent of revenue

Executive Quote

“We delivered another strong quarter, increasing annualized recurring revenue to a record $2.509 billion, with strong recurring revenue growth across all segments,” said Rob Painter, President and CEO of Trimble. “Our Connect and Scale strategy is building momentum with increasingly connected data and workflows across our ecosystem. Trimble is well positioned to accelerate AI-enabled value for customers and shareholders.”

New Share Repurchase Authorization

The Board of Directors authorized the repurchase of up to $1.0 billion in shares of the Company’s common stock. The stock repurchase authorization does not have an expiration date and replaces the prior authorization of up to $1.0 billion, of which $608.2 million was remaining as of the end of the second quarter of 2026, but is now cancelled.

Under the 2026 stock repurchase program, Trimble may repurchase stock from time to time through accelerated stock repurchase programs, open market transactions, privately negotiated transactions, block purchases, tender offers, or other means. The timing and actual amount of any stock repurchased will depend on a variety of factors, including market conditions, Trimble’s stock price, and other available uses of capital, applicable legal requirements, and other factors. This program may be suspended, modified, or discontinued at any time without prior notice.

Forward-Looking Guidance

For the full-year 2026, Trimble expects to report revenue between $3,900 million and $3,950 million, GAAP loss per share of $0.07 to $0.12, and non-GAAP earnings per share of $3.60 to $3.70. GAAP guidance assumes a tax rate of 145.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent. Both GAAP loss and non-GAAP earnings per share assume approximately 234 million shares outstanding.

For the third quarter of 2026, Trimble expects to report revenue between $953 million and $978 million, GAAP earnings per share of $0.39 to $0.44, and non-GAAP earnings per share of $0.83 to $0.88. GAAP guidance assumes a tax rate of 24.0 percent and non-GAAP guidance assumes a tax rate of 17.3 percent. Both GAAP and non-GAAP earnings per share assume approximately 234 million shares outstanding.

A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.

Investor Conference Call / Webcast Details

Trimble will hold a conference call on August 12, 2026 at 8:00 a.m. ET to review its second quarter of 2026 results. An accompanying slide presentation will be made available on the “Investors” section of the Trimble website, https://investor.trimble.com, under the subheading “Events & Presentations.” The call will be broadcast live on the web at https://investor.trimble.com. Investors and participants who wish to dial into the call may do so by first registering at https://events.q4inc.com/analyst/848449078?pwd=RQy4WSHT. Upon registration, dial-in details will be sent via email to the registrant. A replay will also be available on the web at the address above.

About Trimble

Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it’s helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: https://www.trimble.com.

Safe Harbor

Certain statements made in this press release 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 Reform Act of 1995. These statements include expectations about our future financial and operational results. These forward-looking statements are subject to change, and actual results may materially differ due to certain risks and uncertainties. The Company’s results may be adversely affected if the Company is unable to market, manufacture and ship new products, obtain new customers, effectively integrate new acquisitions or consummate divestitures in a timely manner, or get the benefits we are expecting from our joint ventures and partnerships, including with Platform Science. The Company’s results could also be negatively impacted due to the general global macroeconomic outlook, including heightened trade tensions and export control restrictions between the U.S. and its trading partners, and associated supply chain disruptions, slowing growth, inflationary pressures, and fluctuations in interest rates, which may affect demand for our products and services, increase our costs and adversely affect our revenues and profitability; the pace at which our dealers work through their inventory; changes in our distribution channels; adverse geopolitical tensions and the ongoing impact of volatility and conflict in the political and economic environment, including the Middle East conflict, and the direct and indirect impact on our business; fluctuations in foreign currency exchange rates; the pace that we transition our business model towards a subscription model; the impact and risks of AI and AI-related developments; the impact of acquisitions or divestitures; the potential that any stock repurchases may not increase the value of our remaining shares, and we may elect not to purchase the full amount allocated under the 2026 stock repurchase program; and our ability to maintain effective internal controls over financial reporting, including our ability to remediate our material weaknesses in our internal controls over financial reporting. Any failure to achieve predicted results could negatively impact the Company’s revenue, cash flow from operations, and other financial results. The Company’s financial results will also depend on a number of other factors and risks detailed from time to time in reports filed with the U.S. Securities and Exchange Commission, including our quarterly reports on Form 10-Q and our annual report on Form 10-K. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect the Company’s position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company’s expectations or any change of events, conditions, or circumstances on which any such statement is based.

FTRMB

FOOTNOTES TO GAAP TO NON-GAAP RECONCILIATION

This press release includes GAAP financial measures as well as non-GAAP financial measures, which are not meant to be considered in isolation or as a substitute for comparable GAAP measures. We believe non-GAAP financial measures provide useful information to investors and others in understanding our “core operating performance”, which excludes (i) the effect of non-cash items and certain variable charges not expected to recur and (ii) transactions that are not meaningful in comparison to our past operating performance or not reflective of ongoing financial results. Lastly, we believe that our core operating performance offers a supplemental measure for period-to-period comparisons and can be used to evaluate our historical and prospective financial performance, as well as our performance relative to competitors.

The non-GAAP definitions and explanations to the adjustments to comparable GAAP measures are included below:

Non-GAAP Definitions

Non-GAAP gross margin

We define Non-GAAP gross margin as GAAP gross margin, excluding the effects of amortization of purchased intangible assets, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP gross margin as a way of understanding how product mix, pricing decisions, and manufacturing costs influence our business.

Non-GAAP operating expenses

We define Non-GAAP operating expenses as GAAP operating expenses, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe this measure is important to investors evaluating our non-GAAP spending in relation to revenue.

Non-GAAP operating income

We define Non-GAAP operating income as GAAP operating income, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP operating income trends, which are driven by revenue, gross margin, and spending.

Non-GAAP non-operating expense, net

We define Non-GAAP non-operating expense, net as GAAP non-operating expense, net, excluding goodwill impairment, acquisition/divestiture items, deferred compensation, and restructuring and other costs. We believe this measure helps investors evaluate our non-operating expense trends.

Non-GAAP income tax provision

We define non-GAAP income tax provision as the GAAP income tax provision adjusted for the tax effects of the non-GAAP pre-tax adjustments (A) through (E), excluding certain tax charges and benefits such as net deferred tax impacts resulting from tax amortization related to a non-U.S. intercompany transfer of intellectual property and certain acquisitions, deferred tax impacts from net controlled foreign corporation tested income (“net CFC tested income”, formerly referred to as global intangible low-taxed income or “GILTI”), significant reserve releases upon the expiration of statute of limitations and audit closures, and tax law changes. We believe this measure helps investors because it provides for consistent treatment of excluded items in our non-GAAP presentation.

Non-GAAP net income

We define Non-GAAP net income as GAAP net (loss) income, excluding the effects of goodwill impairment, amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. This measure provides a supplemental view of net income trends, which are driven by non-GAAP income before taxes and our non-GAAP tax rate.

Non-GAAP diluted net income per share

We define Non-GAAP diluted net income per share as GAAP diluted net (loss) income per share, excluding the effects of goodwill impairment, amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. We believe our investors benefit by understanding our non-GAAP operating performance as reflected in a per share calculation as a way of measuring non-GAAP operating performance by ownership in the Company.

Adjusted EBITDA

We define Adjusted EBITDA as non-GAAP operating income plus depreciation expense, cloud computing amortization, and income from equity method investments, net, which excludes our proportionate share of items such as amortization of purchased intangibles, stock-based compensation, and restructuring costs. Other companies may define Adjusted EBITDA differently. Adjusted EBITDA is a performance measure that we believe offers a useful view of the overall operations of our business because it facilitates operating performance comparisons by removing potential differences caused by variations unrelated to operating performance, such as capital structures (interest expense), income taxes, depreciation, amortization of purchased intangibles and cloud computing costs, and income from equity method investments, net.

Free cash flow

We define free cash flow as cash flow from operating activities minus capital expenditures. We believe this measure is important to investors evaluating our generation of cash flow.

Explanations of Non-GAAP adjustments

OTHER KEY METRICS

Annualized Recurring Revenue
In addition to providing non-GAAP financial measures, Trimble provides an ARR performance measure in order to provide investors with a supplementary indicator of the value of the Company’s current recurring revenue contracts. ARR represents the estimated annualized value of recurring revenue. ARR is calculated by taking our subscription and maintenance and support revenue for the current quarter and adding the portion of the contract value of all our term licenses attributable to the current quarter, then dividing that sum by the number of days in the quarter and then multiplying that quotient by 365. ARR should be viewed independently of revenue and deferred revenue as it is a performance measure and is not intended to be combined with or to replace either of those items.

Organic Annualized Recurring Revenue
Organic annualized recurring revenue refers to annualized recurring revenue excluding the impacts of (i) foreign currency translation and (ii) acquisitions and divestitures that closed in the prior 12 months.

Organic Revenue
Organic revenue refers to revenue excluding the impacts of (i) foreign currency translation and (ii) acquisitions and divestitures that closed in the prior 12 months.

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SOURCE Trimble