The company said revenue for Q1 2024 rose to $953.3 million, up from $915.4 million a year earlier, while GAAP net income fell to $57.2 million from $128.8 million a year earlier.

1. 01

   The company said revenue for Q1 2024 rose to $953.3 million, up from $915.4 million a year earlier, while GAAP net income fell to $57.2 million from $128.8 million a year earlier.

2. 02

   Trimble said annualized recurring revenue reached $2.03 billion, up 23% year over year and 13% on an organic basis, and that GAAP gross margin was 62.3%.

3. 03

   Trimble said its Audit Committee and management concluded on May 2, 2024, after discussion with EY, that there was an additional material weakness related to certain information technology (IT) and other controls for revenue-related systems and processes as of December 29, 2023, and that as a result 10-K management's report on internal control over financial reporting and EY's related opinion should no longer be relied upon.

4. 04

   The company said on Q1 2024 that it expects to be unable to file its Form 10-Q on time, and in its press release it outlined full-year 2024 revenue of $3,570 million to $3,670 million and non-GAAP EPS of $2.60 to $2.80.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.