Q3 2022 Trimble Inc Earnings Call Transcript
Good morning. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Trimble Third Quarter 2022 Results Conference Call. (Operator Instructions) Thank you. Rob Painter, Chief Executive Officer. You may begin.
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.
Our financial commentary today will reflect non-GAAP performance metrics, including organic growth comparisons, which will relate to the corresponding period of last year, unless otherwise noted.
Let's begin on Page 2 with our key messages. Total revenue in the quarter was $885 million, up 6% yet short of our own higher expectations. Annualized recurring revenue met our expectations and grew 16% to a record level of $1.55 billion. Gross margin finished at a record level of 60.9%, exceeding our expectations. ARR and gross margin are the 2 highlight metrics of the quarter.
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