WESTMINSTER, CO, May 4, 2023 – Trimble Inc. announced financial results for the first quarter of 2023. Revenue for the first quarter of 2023 was $915.4M, up 6.9% compared to $856.5M for the fourth quarter of 2022. GAAP net income was $128.8 M.

“Record annualized recurring revenue of $1.65 billion and record gross margin of 64.2 percent in the first quarter demonstrates the quality of our Connect and Scale strategy,” said Rob Painter, Trimble’s president and chief executive officer. “Our first quarter total revenue and profitability exceeded expectations that we communicated to shareholders in February. We are updating 2023 guidance to reflect the Transporeon acquisition, which closed on April 3, 2023.”

A complete chart of the financial results is available here.

About Trimble

Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable their customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation.

For more information about Trimble, visit www.trimble.com.