Q2 2023 Trimble Inc Earnings Call Transcript
Thank you for standing by. My name is Maria, and I will be your conference operator today. At this time, I would like to welcome everyone to the Trimble Second Quarter 2023 Results Conference Call. (Operator Instructions) I would now like to turn the call over to Mr. Rob Painter, Chief Executive Officer. Mr. Painter, please go ahead.
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 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 14% organic growth in the quarter, beating our internal expectations by 100 basis points. We now stand at a record $1.88 billion of ARR, which compares to
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