TRMBTrimble Inc.
Trimble is a leading technology solutions and platform provider, enabling office professionals and field workers to connect their workflows and industry lifecycles, driving a more productive, efficient, and sustainable future. 10-K, Item 1
- Employees
- 11,500
- Headquarters
- Westminster, CO
- CEO
- Robert G. Painter
- Next results
- around Feb 9, 2027
14 paragraphs in Risk Factors of the 10-K filed Feb 25, 2026 with nothing like them in the 10-K filed Apr 25, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 74 Technology companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
•imposition of new and changing tariffs, which can increase supply costs, create difficulties in forecasting, and affect our business operations;
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Further, certain components used in our products require long lead times for ordering, and if we do not accurately forecast the need for such components, we may end up with component shortages or excess inventory.
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•successfully implementing AI initiatives, with proper controls, to assist with achieving these objectives.
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We also maintain a minority, non-controlling interest in Platform Science, a private company that acquired our Mobility business in February 2025, and we continue to provide products and services to Platform Science under various commercial relationships. The value of our minority equity interest in Platform Science, as well as the commercial benefits that we may realize from our commercial relationships, will depend upon the performance of Platform Science and the Mobility business, which we do not control.
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If we fail to navigate these challenges effectively, we could suffer reputational, technical, or competitive harm and our business and results of operations could be negatively affected.
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Many of our products use satellite signals available globally from the Russian GLONASS, China’s BeiDou, and the European Galileo GNSS Systems. Other countries have developed regional GNSS systems, such as India’s NavIC and Japan's QZSS,
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As a global company, our business is subject to a complex and evolving set of international and U.S. laws and regulations, including export control laws, import and trade restrictions or sanctions, anti-bribery laws, anti-competition regulations, data privacy requirements, labor relations laws, and tax laws.
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Changes in any of these areas could increase our compliance burden, raise our operating costs, or require us to alter our business practices. Violations of these diverse regulatory systems could result in financial penalties or operational disruptions and could harm our brand, our international expansion efforts, our ability to attract and retain employees, and our business, financial condition and results of operations.
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5 more
In addition, our use of AI and machine learning relies on access to large datasets, which creates novel data privacy challenges. Evolving laws and regulations governing AI may impose new restrictions on how we collect and use data to train our models, potentially limiting our ability to innovate.
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Amendments and revisions to existing data privacy legislation, and other developments impacting data privacy and data protection may require us to modify our data processing practices and policies, increase the complexity of providing our products and services and cause us to incur substantial costs in an effort to comply. Failure to comply with these data privacy
and data security laws and regulations may lead to significant fines, private litigation, reputational harm, and business interruption.
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Claims and lawsuits against us, negative regulatory outcomes, or other events that adversely affect our reputation, could harm our business
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In response to the imposition of significant new tariffs on the importation of goods from various countries, we have restructured our global fulfillment network, moving away from a largely centralized inventory in the U.S. to maintaining more commodity, component, and product inventory in several regions around the world. This change has introduced new risks and challenges regarding local inventory management, procurement, and product distribution. Any disruption or damage to our facilities, operations, or inventory at our regional fulfillment sites, whether as a result of natural disasters or other catastrophic events, could impair our ability to fulfill orders for our hardware products, which would negatively affect our results of operations.
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We are subject to domestic and international laws and regulations relating to sustainability matters, which may include specific, target-driven disclosure requirements or obligations. Complying with these regulations and obligations may involve significant expense. We also communicate certain sustainability-related initiatives, goals, and/or other matters in our annual Sustainability Report, on our website, and elsewhere, and some of our investors and customers have expectations regarding sustainability-related matters. Our disclosures on these matters and the standards we set for ourselves, or a failure to meet these standards or expectations, may influence our reputation and the value of our brand and could adversely affect our business, financial condition, and results of operations.
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New in the latest 10-Q
20 paragraphs in the 10-Q filed Nov 4, 2026 with nothing like them in the 10-Q filed Aug 12, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
First Three Quarters Ended October 2, 2026 Shares Amount Additional Paid-In Capital
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On October 2, 2026, we entered into a term loan credit agreement (the “2026 Term Loan”) providing for an unsecured delayed draw term loan facility in the aggregate principal amount of $ 500.0 million. The proceeds of the 2026 Term Loan may be used for general corporate purposes. The 2026 Term Loan permits up to four separate draws on or prior to January 29, 2027, and each loan would mature two years after the initial borrowing date. The 2026 Term Loan is prepayable without premium or penalty.
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Borrowings under the 2026 Term Loan will bear interest, at the Company’s option, at either: (i) the alternate base rate plus a margin that ranges from 0.000 % to 0.750 %, or (ii) the adjusted term secured overnight financing rate (SOFR) plus a margin that ranges from 0.875 % to 1.750 %. The Company will pay a ticking fee on daily undrawn commitments accruing from December 1, 2026 to, but excluding, the commitment termination date, ranging from 0.075 % to 0.275 % per annum. Both the actual interest margin and ticking fee are based on the Company’s applicable credit rating or leverage ratio, whichever results in more favorable pricing to the Company.
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The 2026 Term Loan contains customary covenants, including, among other requirements, limitations that restrict the Company and its subsidiaries’ ability to create liens and restrictions on the ability of the Company’s subsidiaries to incur indebtedness. Further, the 2026 Term Loan contains a financial covenant that requires the maintenance of a maximum leverage ratio. At the end of the third quarter of 2026, we were in compliance with our debt covenants for the 2026 Term Loan.
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• Expand operating margins through operational efficiency, organizational streamlining, and other targeted cost-savings initiatives.
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Global macroeconomic conditions remain challenging, influenced by persistent inflationary pressures, interest and exchange rate volatility, the ongoing conflict in the Middle East, and evolving trade policies. Additionally, expanded AI infrastructure deployment and data center expansions are driving strong demand and price increases for certain commodities. We are actively managing input costs and procurement timelines through strategic sourcing and regional inventory positioning.
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Non-operating expense, net slightly decreased for the third quarter mainly due to strategic investment impairment from the prior year, offset by foreign exchange rate fluctuations.
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In October 2026, we entered into a 2026 Term Loan providing for an unsecured delayed draw term loan facility in the aggregate principal amount of $500.0 million (see Note 9, Debt). As of October 2, 2026, no amounts have been drawn under the 2026 Term Loan.
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Controls and procedures
During the quarter, we made progress against our remediation work plan including the following changes:
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• Designed and implemented additional procedures and controls related to income taxes, information technology general controls, and other financial reporting processes, with operation and testing underway for many of the new controls and procedures.
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• Designed additional procedures and controls related to revenue and related accounts.
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• Increased the level of resources (including external consultants with controls expertise) to support the Company in its design, implementation, operation and testing of controls in accordance with our remediation plan.
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• Continued to strengthen our internal control governance by expanding Audit Committee oversight, which includes additional meetings and regular updates focused on the execution of our remediation plan.
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• Hired a new Chief Legal Officer and a Corporate Controller in August 2026, both bringing extensive experience in governance and internal controls.
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In addition, effective November 2, 2026, we have added an additional Board member with financial expertise to the Board of Directors and to the Audit Committee.
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Share sales and buybacks
The following table provides information relating to our purchases of equity securities for the third quarter of 2026, which were made under the August 2026 Program:
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Total Number Average Total Number of Shares Maximum Approximate Dollar Value of Shares that May Yet Be
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Other information
• On August 13, 2026, Rob Painter, President and Chief Executive Officer, adopted a Rule 10b5-1 trading arrangement that provides for potential sales of up to 108,000 shares of our common stock between November 18, 2026 and November 18, 2027.
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• On September 10, 2026, Phillip Sawarynski, Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement that provides for potential sales of up to 12,000 shares of our common stock between December 16, 2026 and September 17, 2027.
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• On September 15, 2026, Mark Schwartz, Senior Vice President, adopted a Rule 10b5-1 trading arrangement that provides for potential sales of up to 31,685 shares of our common stock between April 15, 2027 and May 28, 2027.
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 4, 2026 against Item 1A of the 10-K filed Feb 25, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
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There have been no material changes to the risk factor disclosures since our 2025 Form 10-K. The risk factors described in the 2025 Form 10-K are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect our business, financial condition, or operating results.
1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.
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