Trimble Inc.: Is The Strategic Pivot From Traditional Sales To A Subscription-Based Model Paying Off?

Trimble Inc. concluded its fiscal year with robust performance, exceeding the midpoint of its guidance. The company reported fourth-quarter revenue of $983 million, ARR of $2.26 billion, and EPS of $0.89. On an as adjusted basis, the fourth-quarter revenue increased by 9%, while gross margins significantly exceeded 70% for the first time. For the entire year of 2024, revenue increased by 6%, and ARR rose by 16%. These achievements emphasize Trimble’s transformative approach in digitizing industries like construction, geospatial, and transportation through its “Connect & Scale” strategy.