- Record annualized recurring revenue of $1.51 billion, up 12% and 15% on an organic basis
- Second quarter total revenue of $941 billion, 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."