Trimble Inc. stock research
FY2024 Q1
Trimble (TRMB) Gross Margin — Quarter Ended Mar 29, 2024
Revenue increased from the prior quarter and the same quarter a year ago, while cost of revenue rose slightly. Gross profit grew faster than cost of revenue, leading to an improved gross margin.
Gross margin takeaway
Quarter ended Mar 29, 2024 · FY2024 Q1
Revenue increased from the prior quarter and the same quarter a year ago, while cost of revenue rose slightly. Gross profit grew faster than cost of revenue, leading to an improved gross margin.
- The gross margin improved sequentially and year-over-year, driven by a proportionally larger increase in gross profit relative to the increase in cost of revenue.
- Compared to the prior quarter, revenue, gross profit, and gross margin were all higher, while cost of revenue was slightly higher. Versus the same quarter last year, revenue and gross profit were higher, cost of revenue was slightly higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
62.3%
Gross profit
$593.6M
Revenue
$953.3M
Cost of revenue
$359.7M
Quarter-over-quarter change
+0.4 pts
Year-over-year change
+1.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2023 | $993.6M | $604.5M | $389.1M | 60.8% |
| Sep 29, 2023 | $957.3M | $590.2M | $367.1M | 61.7% |
| Dec 29, 2023 | $932.4M | $577.3M | $355.1M | 61.9% |
| Mar 29, 2024 | $953.3M | $593.6M | $359.7M | 62.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 29, 2023
+0.4 pts
Year-over-year change
Mar 31, 2023
+1.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially and year-over-year, driven by a proportionally larger increase in gross profit relative to the increase in cost of revenue.
Compared to the prior quarter, revenue, gross profit, and gross margin were all higher, while cost of revenue was slightly higher. Versus the same quarter last year, revenue and gross profit were higher, cost of revenue was slightly higher, and gross margin improved.
Monitor inventory purchase trends, which were noted as lower in the quarter in the filing's liquidity discussion.