A technology company connecting the physical and digital worlds, Trimble makes software and hardware that help construction crews, farmers, truckers, and surveyors get precise work done — think GPS-guided earthmoving tools like Earthworks, 3D design software such as SketchUp, and the Trimble Transportation Cloud for freight planning. It sells in over 160 countries through dealers and partners like Caterpillar and Nikon. In 2025 it sold its Mobility business to focus on its core software and platforms.
Trimble posts 11% revenue growth and 14% ARR rise, but a $562M goodwill impairment drives a GAAP net loss.
A $562 million non-cash in the Transportation & Logistics pushed the to a loss. rose 11% to $972.0 million and widened to 69.4%, driven by 10% and a continuing shift toward subscription and software sales. The underlying business is expanding, but the signals that a past acquisition is not performing as originally valued.
Key takeaways
A $562.0 million non-cash in the Transportation & Logistics (T&L) drove a net loss of $(471.7) million, swinging to $(2.02) from $0.37 a year ago.
Total rose 11% to $972.0 million, with of 10%, as all segments contributed and divestiture headwinds faded.
widened 1.2 points to 69.4%, benefiting from a higher mix of subscription and software term license sales.
Section summaries
Management's Discussion and Analysis
Q2 FY2026 revenue grew 11% YoY to $972M with 14% ARR growth, but a $562M goodwill impairment drove a GAAP net loss.
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Total rose 11% to $972.0M in Q2 and 11% to $1,911.9M in H1, driven by 10% in both periods.
reached $2.5 billion, up 14% , with organic growth of 12%, reflecting the ongoing shift toward .
rose 3.3% to $132.0 million, but contracted 1.0 point to 13.6% as the gain was offset by higher operating expenses.
was $240.3 million for the quarter, and the company borrowed $250 million to fund the Document Crunch acquisition, while cash and equivalents fell to $214.4 million.
What changed
The 12% rate flagged in Q1 FY2026 moderated to 10% in Q2, as the company lapped the Q2 FY2025 period that had an 8% rate and a renewal timing .
Cash and equivalents fell further to $214.4 million from $234.1 million in Q1 FY2026, as the company took on $250 million in new debt for the Document Crunch acquisition, adding to the cash consumption from share repurchases.
The unresolved Nasdaq delisting risk over material weaknesses in internal controls, flagged in every prior filing, persists with no update on remediation in this 10-Q.
Organic growth decelerated to 12% from the 14% pace sustained through FY2025, as the portfolio is now concentrated in AECO, Field Systems, and T&L.
What to watch
Track whether the $562 million T&L is a one-time reset or signals further write-downs, and what it implies for the performance of the Transporeon acquisition.
Monitor cash and equivalents, which at $214.4 million are at their lowest in the reported series, to see whether can service the new $250 million borrowing and support the remaining authorization.
Watch whether Trimble files its overdue reports and regains compliance with Nasdaq listing rules, or whether the delisting process escalates to a trading suspension.
Track organic growth in Q3 FY2026 to see if the 12% pace stabilizes or decelerates further as the company laps the full Transporeon contribution.
expanded to 69.4% in Q2 (from 68.3%) and 69.1% in H1 (from 67.5%), benefiting from a higher mix of subscription and software term license sales.
swung to a loss of $(2.02) in Q2 from $0.37 a year ago, primarily due to a $562.0M non-cash in the T&L .
reached $2.5B, up 14% , with organic growth of 12%, reflecting the ongoing shift toward .
surged to $515.0M in H1 from $102.1M, driven by lower cash taxes paid and higher ; the company borrowed $250M to fund the Document Crunch acquisition.
rose across all segments, with AECO up 12%, Field Systems up 20%, and T&L up 19% in Q2, supported by and .
Quantitative and Qualitative Disclosures About Market Risk
The company faces foreign-currency risk, mainly from the Euro, and uses short-dated forward contracts to hedge, with no material interest-rate risk on cash equivalents.
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Cash equivalents are held for safety and liquidity, and the company does not anticipate material effects from interest-rate fluctuations.
The primary foreign-currency exposure is to the Euro, as European is mostly invoiced in Euro while a portion of costs are also Euro-denominated.
In Q2 2026, and saw favorable currency impacts of $9.4 million and $4.7 million, respectively; year-to-date impacts were $32.9 million and $4.4 million.
The company uses foreign-currency (maturities of one to two months) to hedge cash, debt, and certain / in Euro, Indian Rupee, Canadian Dollars, New Zealand Dollars, and Norwegian Krone.
At Q2 2026 end, the nominal amount of purchased was $428.0 million (fair value -$1.0 million) and sold contracts were $33.4 million (fair value $0).
Derivatives are used only for hedging, not speculation, under board-approved policies.
There have been no material changes to the risk factor disclosures since our 2025 Form 10-K. The risk factors described in the 2025 Form 10-K are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial a…
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There have been no material changes to the risk factor disclosures since our 2025 Form 10-K. The risk factors described in the 2025 Form 10-K are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition, or operating results.