
Trimble Inc. Grows Recurring Revenue to 67% with $2.1B Transporeon Acquisition
Trimble Inc.Description
What this story covers
Trimble Inc. reported 3 point 8 billion dollars revenue in 2023, up 3 percent, driven by 20 percent subscription growth to 67 percent of total. Gross margins rose to 61 point 4 percent amid hardware declines. Key moves: 2 point 1 billion dollars Transporeon acquisition boosting Transportation 23 percent; pending 2 billion dollars Ag JV for 15 percent stake. Net income down 31 percent to 311 million dollars due to debt costs, but non-GAAP EPS up to 2 dollars 66. Risks include supply chains, integration, and economic pressures.
Story snapshot
CompanyTrimble Inc.
TickerTRMB
VariantStandard detailed
Duration22:21
Filing type10-K
PeriodAnnual 2023
IndustryTechnology
Accession0000864749-24-000047
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