Trimble's second quarter came with a record and a half-billion-dollar admission in the same release.
The positioning-and-software company reported on Aug 12 that revenue for the second quarter of 2026 rose 11 percent from a year earlier to $972.0 million, a 10 percent increase on an organic basis [1]. Annualized recurring revenue, the running rate of its subscription and software business, reached a record $2.51 billion, up 14 percent year over year and 12 percent organically [1]. Adjusted EBITDA was $278.0 million, a 28.6 percent margin, and non-GAAP diluted earnings per share were $0.86 [1].
On a GAAP basis the same quarter looks very different. Trimble reported a diluted loss of $(2.02) per share [1]. The gap between an $0.86 non-GAAP profit and a $(2.02) GAAP loss is not a sign that operations fell apart between two accounting methods. It is one charge: a $562.0 million non-cash goodwill impairment in the Transportation and Logistics segment [1]. Goodwill is the premium a company records when it pays more for an acquisition than the hard value of what it buys; a non-cash impairment means Trimble now judges that some of that premium in its transportation business is no longer supported, and it wrote the value down on paper without any money leaving the building this quarter.
Those two earnings figures should be read side by side, not merged. The non-GAAP $0.86 strips out the impairment and other items to show how the underlying business ran. The GAAP $(2.02) includes the writedown, which is the honest picture of the quarter's bottom line. Blending them, or reporting the loss as if the operating business collapsed, would misstate what happened. The operating business grew; a past acquisition was marked down.
The capital-return and outlook lines point up, not down. Trimble authorized a new share-repurchase program of up to $1.0 billion with no expiration date, replacing a prior program that still had $608.2 million of capacity, which was cancelled [1]. It raised full-year 2026 guidance to revenue of $3.90 billion to $3.95 billion and non-GAAP EPS of $3.60 to $3.70, while guiding GAAP results to a full-year loss of $(0.07) to $(0.12) per share, the GAAP line still carrying the weight of the impairment [1].
The headline the company would prefer is the record ARR, and it earned it. The line worth keeping in view is the $562.0 million the company just told the market it will not get back out of its transportation acquisitions.
