WESTMINSTER, CO, Nov 2, 2023 – Trimble Inc. announced financial results for the third quarter of 2023. Revenue for the third quarter of 2023 was $957.3 M, down 3.7% compared to $993.6M for the second quarter of 2023. GAAP net income was $74.9M.

“Record annualized recurring revenue of $1.94 billion and record gross margin of 65.0% in this third quarter demonstrate progression of the Connect & Scale strategy,” said Rob Painter, Trimble’s president and chief executive officer. “In an increasingly difficult macroeconomic environment, we continue to simplify and focus our business to execute to our full potential.”

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.