TRIMBLE INC. (TRMB) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that TRIMBLE INC. surfaced in its latest filing.

• Identified a material weakness related to business combination accounting in the 2023 fiscal year; after filing the 2023 Form 10-K, management re-evaluated and identified additional material weaknesses.2023
• Delayed filing Quarterly Reports on Form 10-Q for the first, second, and third quarters of 2024.2024
• Received notices from Nasdaq indicating non-compliance with Nasdaq Listing Rule 5250(c)(1) due to delayed filings.
• Delayed filing of Annual Report on Form 10-K for fiscal year ended January 3, 2025.January 3, 2025
• Filed Amendment No. 1 on Form 10-K/A to the 2023 Form 10-K and the delayed quarterly reports on January 16, 2025.January 16, 2025
• Filed the 2024 Form 10-K with the SEC on April 25, 2025.April 25, 2025
• Regained compliance with the Nasdaq Listing Rule after the filings.
• Due to previous failure to timely meet SEC reporting obligations, unable to use Form S-3 for twelve months until April 2026.April 2026
• In April 2024, contributed precision agriculture business to a joint venture with AGCO, retaining a 15% stake; includes long-term supply agreements.April 2024
• Maintains a minority, non-controlling interest in Platform Science, which acquired Trimble's Mobility business in February 2025; continues to provide products and services under commercial relationships.February 2025
• In 2020 the FCC approved a private party's proposal to repurpose spectrum adjacent to authorized GNSS bands for terrestrial wireless operations, which would have created harmful interference to GNSS receivers; the Company opposed it.2020
• At the end of 2025, our total debt, comprised of senior notes, was $1.4 billion.2025
• The Organization of Economic Cooperation and Development (OECD) introduced a framework imposing a minimum tax of 15% to certain multinational enterprises, which to date certain member countries have implemented, with minimal impact to fiscal year 2025 financial results.2025
• We are currently in various stages of multiple year examinations by U.S. federal, state, and foreign taxing authorities.
• During 2025, our stock price ranged from $52.91 to $87.50.2025
• Past global supply chain shortage in 2021 and 2022 caused delays in shipping products to customers and dealers.2021 and 2022
• The Company is pursuing a Connect & Scale strategy involving substantial resource investment in integrating product offerings and transitioning businesses to common core services and systems.
• We restructured our global fulfillment network to maintain more inventory in several regions in response to new tariffs.