Trimble Reports Q3 Revenue

Trimble Inc. recently announced financial results for the third quarter of 2023.

Third Quarter 2023 Financial Highlights

• Revenue of $957.3 million, up 8% on a year-over-year basis, up 2% year-over-year on an organic basis
• Annualized recurring revenue (“ARR”) was $1.94 billion, up 25% year-over-year, up 13% on an organic basis
• GAAP operating income was $121.3 million and non-GAAP operating income was $251 million
• GAAP net income was $74.9 million and non-GAAP net income was $170.2 million
• Adjusted EBITDA of $268.2 million, 28% of revenue

Forward Looking Guidance

For the full-year 2023, Trimble now expects to report revenue between $3,757 million and $3,797 million.

Source: Farm-Equipment.com