Trimble Inc. reported fourth-quarter FY21 revenue growth of 12 percent year-on-year to $926 million, beating the consensus of $895.6 million. Annualized recurring revenue was $1.41 billion, up 9 percent Y/Y. Product revenue grew 14.6 percent Y/Y to $562 million. Service revenue was flat at $165.1 million. Subscription revenue rose 14.2 percent Y/Y to $198.9 million. The gross margin contracted 130 bps to 55.2 percent. Non-GAAP EPS of $0.62 missed the consensus of $0.63. Trimble held $325.7 million in cash and equivalents. “Trimble is a purpose-driven company, transforming and digitizing industries that support how we live, what we eat, how we move,” said CEO Rob Painter. Outlook Trimble sees FY22 revenue of $3.95 billion–$4.05 billion versus the consensus of $3.96 billion and non-GAAP EPS of $2.75–$2.95, below the consensus of $2.96. By Anusuya Lahiri © 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.