Key Highlights

• Trimble reported Q3 2026 Revenue of $966.8 million, up 7% year-over-year and 7% organically

• Annualized Recurring Revenue reached a record $2.56 billion, up 11% year-over-year

• Non-GAAP diluted EPS was $0.86 and Adjusted EBITDA was $278.5 million at a 28.8% margin

• The company repurchased approximately 4.0 million shares for $231.7 million during the quarter

Trimble Inc.(NASDAQ:TRMB), a global technology company connecting the physical and digital worlds, reported its third quarter 2026 financial results on November 4, 2026. The results exceeded management's expectations on both revenue and earnings per share, while the company's recurring revenue base reached a new high.

Revenue and Earnings Performance

Trimble posted revenue of $966.8 million for the quarter ended September 30, 2026, representing 7% growth on both a reported and organic basis compared to the same period in 2025. GAAP Operating Income was $142.0 million, or 14.7% of revenue, while non-GAAP operating income reached $262.6 million, or 27.2% of revenue.

On a GAAP basis, Net Income for the quarter was $59.1 million with diluted Earnings Per Share of $0.25. On a non-GAAP basis, net income was $200.5 million with Diluted Earnings per Share of $0.86. Adjusted EBITDA came in at $278.5 million, representing a Margin of 28.8% of revenue. The divergence between GAAP and non-GAAP earnings reflects items such as share-based compensation, amortization of acquired intangibles, and other adjustments.

Recurring Revenue Momentum

A notable feature of Trimble's Q3 report was the record annualized recurring revenue of $2.56 billion, representing 11% growth year-over-year and 10% on an organic basis. The ARR milestone reflects Trimble's ongoing transition toward a subscription-based Business model, a shift that CEO Rob Painter highlighted as central to the company's Connect & Scale strategy.

The strategy leverages what the company describes as its unique presence across both physical and digital worlds, with breadth and depth of connected industry data serving essential industries including construction, geospatial, and transportation. Whether the focus is building and maintaining infrastructure, designing and constructing buildings, optimizing Supply chains, or mapping, Trimble's platform approach aims to integrate data across workflows.

Share Repurchases and Capital Allocation

During the third quarter, Trimble repurchased approximately 4.0 million shares for $231.7 million, reflecting management's continued commitment to returning capital to shareholders through buybacks. The repurchase activity is part of the company's broader capital allocation framework.

Full-Year and Q4 2026 Guidance

For the full year 2026, Trimble expects revenue between $3,910 million and $3,940 million. Non-GAAP earnings per share are projected at $3.63 to $3.69, assuming approximately 234 million shares outstanding and a non-GAAP tax rate of 17.2%. On a GAAP basis, the company expects a loss per share of $0.55 to $0.49, driven by a significantly elevated GAAP tax rate between 372.6% and 618.3%.

For Q4 2026 specifically, Trimble guided for revenue of $1,031 million to $1,061 million, GAAP earnings per share of $0.83 to $0.89, and non-GAAP earnings per share of $1.13 to $1.19. The fourth quarter guidance implies sequential revenue growth and improved profitability heading into year-end.

Looking Ahead

Trimble's Q3 2026 results demonstrate continued execution against its subscription-focused strategy, with record recurring revenue and above-expectation financial performance. The company's updated full-year guidance and Q4 outlook suggest management anticipates sustained momentum through year-end. With its Connect & Scale strategy driving recurring revenue growth across construction, geospatial, and transportation verticals, Trimble's business model transition appears to be progressing. The company's simultaneous commitment to share repurchases indicates confidence in its financial position as it enters the final quarter of 2026.