Q1 2023 Trimble Inc Earnings Call Transcript

Jan 23, 2024

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May 03, 2023 / 12:00PM GMT
Operator

Good day, and welcome to the Trimble First Quarter 2023 Results Conference. (Operator Instructions) And finally, I would like to advise all participants that this call is being recorded. Thank you.

I'd now like to welcome Rob Painter, Chief Executive Officer, to begin the conference. Rob, over to you.

Robert G. Painter - Trimble Inc. - CEO, President & Director

Welcome, everyone. Before I get started, our presentation is available on our website, and we ask that you refer to the safe harbor at the back. Let's begin on Slide 2 with our key messages. Annualized recurring revenue is our key top line metric at Trimble. Our team, led by our construction software group achieved 13% organic growth in the quarter, 100 basis points ahead of our expectations. We now stand at $1.65 billion of ARR, which compares to $1.2 billion when we began our Connect and Scale journey in 2020 and under $700 million at the beginning of 2017.

Kudos to the Trimble team who have worked so hard to execute on our transformation. EBITDA is our other key P&L metric,

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