• 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." 

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