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 as of fiscal year ended December 29, 2023.December 29, 2023
• Identified additional material weaknesses after filing the 2023 Form 10-K.
• Delayed filing of Quarterly Reports on Form 10-Q for Q1, Q2, and Q3 of 2024.2024
• Received notices from Nasdaq regarding non-compliance with Nasdaq Listing Rule 5250(c)(1) for timely filing.
• 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 and Quarterly Reports on Form 10-Q for Q1-Q3 2024 on January 16, 2025.January 16, 2025
• Filed the 2024 Form 10-K on April 25, 2025.April 25, 2025
• Regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing required reports.
• Unable to use Form S-3 for twelve months after April 2025, ending April 2026, due to prior late filings.April 2025
• Sold agricultural business to a joint venture with AGCO.
• Sold Mobility business to Platform Science.
• In April 2024, contributed precision agriculture business to a JV with AGCO and retained a 15% stake.April 2024
• Maintains a minority, non-controlling interest in Platform Science, which acquired our Mobility business in February 2025.February 2025
• Experienced global supply chain shortage in 2021 and 2022.2021-2022
• 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.2020
• The private party disclaimed plans to implement terrestrial operations, but similar proposals could be revived.
• At the end of 2025, total debt comprised of senior notes was $1.4 billion.2025
• The debt includes senior notes that will mature and require repayment or refinancing.
• The debt instruments include a financial covenant requiring timely filing of SEC reports.
• OECD introduced a framework imposing a minimum tax of 15% to certain multinational enterprises.
• Impact to fiscal year 2025 financial results from OECD minimum tax framework was minimal.2025
• During 2025, our stock price ranged from $52.91 to $87.50.2025