TRMB — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-11-04

• •Expand operating margins through operational efficiency, organizational streamlining, and other targeted cost-savings initiatives.

• Our focus on these growth drivers has led to sustained growth in revenue and profitability, evolving into a more streamlined and resilient business model. We continue to experience a shift toward a more significant mix of recurring revenue as demonstrated by our success in driving annualized recurri…

• 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…

• In the second quarter of 2026, we received approval for a $17.8 million tariff refund under the U.S. Customs and Border Protection (CBP) IEEPA refund program, which was received by the end of the third quarter of 2026. In certain cases, we passed refund amounts on to customers. We reversed the previ…

• Gross margin increased for the third quarter primarily due to organic revenue growth. Gross margin as a percentage of revenues slightly decreased for the third quarter due to a higher mix of hardware revenue with lower gross margins.

Text removed vs the prior filing · source: 10-Q · 2026-08-12

• Our focus on these growth drivers has led to sustained growth in revenue and profitability, evolving into a more streamlined and resilient business model. We continue to experience a shift toward a more significant mix of recurring revenue as demonstrated by our success in driving annualized recurri…

• The combined business aims to enhance driver experience, fleet safety, efficiency, and compliance by combining two cutting-edge in-cab commercial vehicle ecosystems.

• Macroeconomic conditions continue to present significant challenges globally, driven by geopolitical tensions, such as the conflict in the Middle East, tariff and trade policies, exchange rate and interest rate volatility, and persistent inflationary pressures.

• The recent conflict in the Middle East may result in increased inflationary pressure and economic uncertainty. Additionally, the heightened trade tensions and related uncertainty of tariffs and imposed export control restrictions between the United States and its trading partners create additional v…

• If there were to be a deterioration in the global economy, the economies of the countries or regions where our customers are located or do business, or the industries that we or our customers serve, the demand for our products and services may decrease. We are closely monitoring global developments.

Text added vs the prior filing · source: 10-Q · 2026-11-04

• During the quarter, we made progress against our remediation work plan including the following changes:

• •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.

• •Designed additional procedures and controls related to revenue and related accounts.

• •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.

• •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.

Text removed vs the prior filing · source: 10-Q · 2026-08-12

• Except for the ongoing progress against the remediation plan as described above, there have been no changes that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting during the quarter for which this report relates.

Text added vs the prior filing · source: 10-Q · 2026-11-04

• •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.

• •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.

• •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.