Core Insights - NCR Voyix reported a quarterly loss of $0.24 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.01, and down from earnings of $0.95 per share a year ago [1] - The earnings surprise was -2,300%, with the company having only surpassed consensus EPS estimates once in the last four quarters [2] Financial Performance - NCR Voyix generated revenues of $711 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 2.30%, but down from $2.02 billion in the same quarter last year [3] - The company has topped consensus revenue estimates two times over the last four quarters [3] Stock Performance - NCR Voyix shares have declined approximately 17.3% since the beginning of the year, contrasting with the S&P 500's gain of 24.3% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $700.5 million, while the estimate for the current fiscal year is -$1.69 on revenues of $2.83 billion [8] - The trend of estimate revisions for NCR Voyix is mixed, which could change following the recent earnings report [7] Industry Context - The Computer - Integrated Systems industry, to which NCR Voyix belongs, is currently in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [9] - The performance of NCR Voyix's stock may be influenced by the overall industry outlook [9]

NCR V::YIX N Y S E : V Y X 1 Q3 2024 Earnings Report David Wilkinson, CEO Brian Webb-Walsh, CFO November 7, 2024 Notes to Investors SPIN-OFF INFORMATION. On October 16, 2023, NCR Voyix completed the spin-off of NCR Atleos Corporation ("NCR Atleos") as an independent, publicly traded company. The historical financial results of NCR Atleos are reflected as discontinued operations in NCR Voyix's consolidated financial statements for periods prior to the completion of the spin-off. Accordingly, the financial in ...

Revenue Performance - Revenue for Q3 2024 was $711 million, down 12% compared to $809 million in Q3 2023[200] - Total revenue for the nine months ended September 30, 2024, was $2,144 million, a decrease of 10% compared to $2,382 million in 2023[216] - Total revenue decreased by 12% to $711 million for the three months ended September 30, 2024, compared to $809 million for the same period in 2023[230] - Total revenue decreased by 10% to $2,144 million for the nine months ended September 30, 2024, compared to $2,382 million for the same period in 2023[232] Revenue Breakdown - Product revenue decreased by 22% to $684 million in 2024 from $875 million in 2023, while service revenue decreased by 3% to $1,460 million from $1,507 million[216] - Product revenue decreased by 26% to $219 million for the three months ended September 30, 2024, primarily due to declines in SCO and POS hardware revenues[231] - Service revenue decreased by 4% to $492 million for the three months ended September 30, 2024, attributed to a decrease in payment processing services revenue[231] - Software and services revenue for the nine months ended September 30, 2024, was $1,534 million, a decrease of 3% from $1,585 million in 2023, representing 71.5% of total revenue[221] - Hardware revenue for the nine months ended September 30, 2024, was $610 million, down 23% from $797 million in 2023, accounting for 28.5% of total revenue[221] Expenses and Profitability - Adjusted EBITDA for Q3 2024 was $93 million, down 10% from the previous year[200] - Adjusted EBITDA for the nine months ended September 30, 2024, was $233 million, a decrease of 14% from $272 million in 2023, representing 10.9% of total revenue[224] - Total gross margin decreased to 23.3% in Q3 2024 from 24.1% in Q3 2023[214] - Total gross margin for the nine months ended September 30, 2024, was $430 million, down 23% from $558 million in 2023, with a gross margin percentage of 20.1% compared to 23.4%[216] - Selling, general, and administrative expenses decreased by 20% to $113 million in Q3 2024[214] - Selling, general and administrative expenses decreased by 20% to $340 million in 2024 from $427 million in 2023, representing 15.9% of total revenue[216] - Research and development expenses increased by 31% to $38 million in Q3 2024 compared to $29 million in Q3 2023[214] - Research and development expenses increased by 32% to $129 million in 2024 from $98 million in 2023, representing 6.0% of total revenue[216] Discontinued Operations and Gains - The company recognized income from discontinued operations of $1,162 million for the nine months ended September 30, 2024, compared to $353 million for the same period in 2023[250] - The company completed the sale of its Digital Banking segment for $2.45 billion in cash on September 30, 2024[193] - The company recorded a gain of $8 million on extinguishment of debt for the three and nine months ended September 30, 2024[241] Cash Flow and Capital Expenditures - Cash provided by operating activities decreased to $38 million for the nine months ended September 30, 2024, down from $727 million in the same period of 2023, primarily due to discontinued operations and changes in net working capital[269] - Capital expenditures were approximately $178 million for the nine months ended September 30, 2024, compared to $306 million in the same period of 2023, indicating a reduction in investment[270] - Adjusted free cash flow-unrestricted for the nine months ended September 30, 2024 was $(123) million, reflecting significant cash outflows related to capital expenditures and other activities[275] Debt and Financial Position - As of September 30, 2024, the company had cash and cash equivalents of $795 million and total debt of $1.1 billion, with a borrowing capacity of $478 million under senior secured credit facilities[266] - The redemption value of the Series A Convertible Preferred Stock was approximately $276 million as of September 30, 2024, with a cumulative dividend rate of 5.5% per annum[280] - As of September 30, 2024, the company had $403 million in senior unsecured notes due in 2029 and $650 million due in 2028[277] - The company had a borrowing capacity of approximately $478 million under its revolving credit facility as of September 30, 2024[283] Foreign Currency and Risk Management - The company is exposed to approximately 30 functional currencies, impacting sales, profits, and assets due to foreign currency exchange risk[292] - A 10% appreciation of the U.S. Dollar against foreign currencies would decrease the fair value of the hedge portfolio by $4 million, while a 10% depreciation would increase it by $3 million as of September 30, 2024[294] - The company manages credit risk through credit approvals, limits, and selecting major international financial institutions as counterparties, with no significant concentration of credit risk as of September 30, 2024[299] - The company employs derivatives, including foreign currency contracts and interest rate swaps, to manage market risks without using them for trading or speculative purposes[291] - The company hedges main transactional exposures to mitigate the impact of currency fluctuations on foreign subsidiaries[292] Interest Expense and Financial Management - Interest expense decreased by 52% to $40 million for the three months ended September 30, 2024, compared to $83 million in 2023, due to a reduction in total debt outstanding[243] - Interest expense decreased by 53% to $120 million for the nine months ended September 30, 2024, compared to $257 million for the same period in 2023, primarily due to a reduction in total debt outstanding[244] - A hypothetical 100 basis point increase in variable interest rates would result in an increase of approximately $3 million in pre-tax interest expense for the nine months ended September 30, 2024[298] - The increase in interest expense due to variable-rate debt has historically been managed through interest rate swap contracts and interest rate cap agreements[297]

Financial Performance - Q3 2024 GAAP Revenue was $711 million, down from $809 million in the prior year, reflecting a decrease of approximately 12%[3] - Net loss from continuing operations was $31 million, significantly improved from a loss of $266 million in the prior year[3] - Adjusted EBITDA for Q3 2024 was $93 million, down from $103 million in the prior year, reflecting a decrease of approximately 10%[3] - Normalized Adjusted EBITDA for Q3 2024 was $101 million, down from $133 million in Q3 2023, while YTD it was $251 million compared to $336 million in the previous year[20] - Normalized Revenue for Q3 2024 was $708 million, a decrease from $794 million in Q3 2023, with YTD revenue at $2,140 million compared to $2,332 million in the prior year[22] - Adjusted EBITDA for the three months ended September 30, 2024, was $93 million, a decrease of 10% from $103 million in the same period of 2023[29] - Adjusted EBITDA margin for the three months ended September 30, 2024, was 13.1%, compared to 12.7% in the same period of 2023[29] - Total revenue for the three months ended September 30, 2024, was $711 million, a decrease of 12% compared to $809 million for the same period in 2023[28] - Total revenue for the nine months ended September 30, 2024, was $2,144 million, down 10% from $2,382 million in the same period of 2023[29] Revenue Breakdown - Software & Services Revenue was $517 million, a decline of 4% compared to $540 million in the prior year[3] - Software & Services Revenue for Q3 2024 was $516 million, down from $528 million in Q3 2023, with YTD figures at $1,532 million compared to $1,545 million[23] - Retail segment revenue for the three months ended September 30, 2024, was $487 million, down 12% from $552 million in the same period of 2023[29] - Restaurant segment revenue for the three months ended September 30, 2024, was $211 million, an 8% decrease from $229 million in the same period of 2023[29] Debt and Cash Management - The company reduced its outstanding debt by $1.84 billion following the sale of the Digital Banking business, improving its net leverage ratio[5] - The company’s long-term debt was reduced to $1,098 million from $2,563 million, a decrease of 57.1%[31] - Net Debt was defined as total debt minus cash and cash equivalents, indicating the company's liquidity position[17] - The Net Leverage Ratio is calculated as net debt divided by last-twelve-months Adjusted EBITDA, serving as an indicator of the company's indebtedness relative to its operating performance[17] - The company reported a cash balance of $825 million at the end of the period, down from $3,013 million in the previous year[33] - Cash and cash equivalents rose significantly to $795 million from $259 million, marking a 207.3% increase[31] Strategic Actions - The sale of the Digital Banking business was completed for $2.45 billion in cash, with an additional contingent consideration of up to $100 million[5] - The company plans to utilize approximately $100 million from the Digital Banking sale proceeds for share repurchases over the next 12 months[5] - The company is transitioning its POS and SCO hardware businesses to an ODM model effective January 1, 2024, as part of ongoing expense reduction actions[18] - The company has adjusted its financial outlook following the divestiture of the Digital Banking business, which may impact future operating results[18] Income and Expenses - The company reported a significant interest expense of $40 million in Q3 2024, down from $83 million in Q3 2023, indicating improved financial management[20] - Total gross margin for the three months ended September 30, 2024, was $166 million, representing 23.3% of revenue, compared to 24.1% in the same period of 2023[28] - Research and development expenses for the three months ended September 30, 2024, increased to $38 million from $29 million in the same period of 2023[28] Equity and Assets - Total stockholders' equity increased to $1,011 million as of September 30, 2024, compared to $25 million at December 31, 2023[31] - Total current assets increased to $1,825 million as of September 30, 2024, compared to $1,206 million at December 31, 2023, representing a growth of 51.3%[31] - Total liabilities decreased to $3,387 million from $4,689 million, reflecting a reduction of 27.7%[31] - The company reported net cash provided by operating activities of $38 million for the nine months ended September 30, 2024, down from $727 million in the prior year[33] - Proceeds from divestiture amounted to $2,458 million, significantly higher than $10 million in the previous year[33] - Net income for the three months ended September 30, 2024, was $1,082 million, compared to a net loss of $(128) million in the same period of 2023[28] - Net income for the nine months ended September 30, 2024, was $968 million, a substantial recovery from a net loss of $104 million in the same period of 2023[33]

NCR V::YIX N Y S E : V Y X 1 Q2 2024 Earnings Report David Wilkinson, CEO Brian Webb-Walsh, CFO August 6, 2024 Notes to Investors SPIN-OFF INFORMATION. On October 16, 2023, NCR Voyix completed the spin-off of NCR Atleos Corporation ("NCR Atleos") as an independent, publicly traded company. The historical financial results of NCR Atleos are reflected as discontinued operations in NCR Voyix's consolidated financial statements for periods prior to the completion of the spin-off. Accordingly, the financial info ...

NCR Voyix Corporation (NYSE:VYX) Q2 2024 Earnings Conference Call August 6, 2024 8:00 AM ET Company Participants Alan Katz - Vice President of Investor Relations David Wilkinson - Chief Executive Officer Brian Webb-Walsh - Chief Financial Officer Conference Call Participants Will Nance - Goldman Sachs Mayank Tandon - Needham & Company Matt Summerville - D.A. Davidson Jeffrey Lane - Stifel, Nicolaus & Company Ian Zaffino - Oppenheimer & Co. Inc. Erik Woodring - Morgan Stanley Operator Greetings, and welcome ...

NCR Voyix (VYX) came out with a quarterly loss of $0.54 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to earnings of $0.94 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -390.91%. A quarter ago, it was expected that this maker of ATMs and other hardware and software to handle payments would post earnings of $0.06 per share when it actually produced earnings of $0.13, delivering a surprise of ...

NEW TAIPEI CITY, Taiwan, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Ennoconn Corporation (Taiwan Exchange / 6414.TW), a global technology company delivering world-class Industrial intelligent IoT, AI and Embedded Technology solutions, today announced that it has entered into a definitive agreement with NCR Voyix (NYSE:VYX) to manage the supply, design, manufacturing, fulfillment, delivery and warranty for its hardware products. NCR Voyix is a leading global provider of digital commerce solutions. Since 2008, Ennocon ...

Table of Contents ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-00395 NCR VOYIX CORPORATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-Q ________________________ (Mark One) (Exac ...

NCR Voyix’s first-quarter earnings results took note of strength in customer conversions to its commerce platform and growth in digital banking and the adoption of self-checkout technology to help streamline customer interactions, especially in retail.CEO David Wilkinson said on a Thursday (May 9) conference call with analysts that the company is making progress converting customers to its platform and now has approximately 61,000 retail and restaurant platform sites — representing 18% of NCR Voyix’s total ...