-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
TRMB delivered strong Q1 2026 results with revenue of $939.9M (+12% Y/Y), beating consensus by $34.3M, and non-GAAP EPS of $0.79 (+30% Y/Y), exceeding estimates by $0.07. Record ARR reached $2.43B (+12% organic), maintaining consistent double-digit growth throughout the subscription transformation. The results reinforce momentum in the Connect & Scale strategy execution, with broad-based strength across segments and meaningful margin expansion validating operational leverage. We think the expanding profitability metrics demonstrate the earnings power of the transformed business model, with gross margins reaching 71% and operating margins improving 230 bps to 25.9%. Strong cash generation enabled $316.9M in share repurchases, reflecting management confidence. Management raised full-year revenue guidance to $3,835-$3,915M and EPS to $3.47-$3.64, both above Street estimates. We expect continued progress toward 2027 targets of $3B ARR and 30% EBITDA margins as subscription scale drives further operating leverage.