• Record annualized recurring revenue of $1.51 billion, up 12% and 15% on an organic basis
  • Second quarter total revenue of $941 million, up 6% on an organic basis

Trimble Inc. announced financial results for the second quarter of 2022. 

Second Quarter 2022 Financial Highlights: 

  • Revenue of $941.2 million, up 6% excluding the effects of divestitures, acquisitions and foreign currency translation
  • Annualized recurring revenue (ARR) was $1.51 billion, up 12% year over year
  • GAAP operating income was $134.9 million and non-GAAP operating income was $210.7 million
  • GAAP net income was $168.0 million and non-GAAP net income was $161.6 million
  • Diluted earnings per share was $0.67 on a GAAP basis and $0.64 on a non-GAAP basis
  • Adjusted EBITDA of $227.5 million, 24.2% of revenue 
  • Shared repurchases of $200.0 million

"Our second quarter result exceeded expectations," said Rob Painter, Trimble's president and chief executive officer. "Growth in annualized recurring revenue and gross margin demonstrate the potential of our Connect & Scale strategy. We remain committed to investing in our strategy while navigating macroeconomic uncertainties." 

Click here for more Industry News.