Financial Data and Key Metrics Changes - Total normalized revenue for Q1 2024 was $858 million, a decline of approximately 3% driven by lower hardware revenue due to customer refresh cycles [27] - Normalized software and services revenue increased by 5% to $662 million, while adjusted EBITDA was $122 million, down 2% [27][28] - Adjusted EBITDA margin was 14.2%, slightly higher than the prior year, and adjusted EPS was $0.13 with a weighted diluted average share count of 162.7 million [27] Business Line Data and Key Metrics Changes - In the retail segment, software and services revenue grew by 5%, but total revenue declined by 7% due to hardware declines [29] - The restaurant segment saw software and services revenue grow by 3%, offset by hardware, resulting in a revenue decline of 3% [92] - Digital banking segment revenue increased by 7%, with adjusted EBITDA growing by 10% and margin expanding by 90 basis points [100] Market Data and Key Metrics Changes - The company signed nearly 300 new customers across retail and restaurant segments, indicating strong market demand [81][116] - The digital banking segment registered users grew by 5% to over 28.5 million, with active users increasing by 3% to over 19.7 million [88] Company Strategy and Development Direction - The company is focused on executing its platform strategy and increasing investments in its global sales and services network to drive growth [10][24] - There is a strong emphasis on converting existing customers to the platform and expanding relationships with new customers, particularly in the mid-market [12][24] - The company aims to streamline operations by consolidating its four business lines into a single organization, enhancing sales activity and cost efficiencies [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute growth strategies and maximize shareholder value, despite challenges in the hardware business [40][56] - The company anticipates a moderation in hardware revenue decline in the second half of the year, with expectations for sequential improvement in revenue and adjusted EBITDA [36][107] - Management noted that the digital banking business is performing well and is expected to continue growing, with a focus on cross-selling and expanding existing customer relationships [111] Other Important Information - The company is undergoing a $100 million cost-out program, with $70 million benefits expected this year and $30 million flowing into next year [65] - The company reaffirmed its 2024 guidance ranges based on Q1 performance and current visibility for the year [95] Q&A Session Summary Question: What is the outlook for revenue and EBITDA cadence going forward? - Management expects revenue and adjusted EBITDA to sequentially improve as cost transformation initiatives ramp up and hardware-related declines moderate in the second half [36] Question: Any updates on plans to potentially monetize the digital banking asset? - Management continues to explore opportunities to maximize shareholder value, acknowledging the increasing valuations in the market [40] Question: What is the demand outlook for self-checkout products? - Management sees continued demand for self-checkout solutions, driven by consumer preferences for unassisted checkout options [44][106] Question: How does the digital banking segment compare to historical quarterly run rates? - The digital banking segment is performing in line with expectations, with strong customer additions and expansions [50] Question: What are the attrition rates across segments? - The company reports strong retention rates, particularly in enterprise customers, with normal attrition trends continuing [69] Question: What is the expected margin for the restaurant segment going forward? - Management expects the restaurant segment margin to remain in the mid-to-high twenties for the full year [123]

NCR V::YIX David Wilkinson, CEO Brian Webb-Walsh, CFO 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 information included in this presentation and the associated remarks has been re ...

NEWS RELEASE NCR Voyix Reports First Quarter Results ATLANTA, May 9, 2024 - NCR Voyix Corporation (NYSE: VYX) ("NCR Voyix" or the "Company"), a leading global provider of digital commerce solutions, reported financial results today for the three months ended March 31, 2024. | In millions | | Q1 2024 | Q1 2023 | % Change | | --- | --- | --- | --- | --- | | Revenue (GAAP) | $ | 862 $ | 916 | (6)% | | Normalized revenue | $ | 858 $ | 889 | (3)% | | Net income (loss) from continuing operations attributable to N ...

Wall Street expects a year-over-year decline in earnings on lower revenues when NCR Voyix (VYX) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may mo ...

Shadi Saifan, vice president of engineering at NCR Voyix, told PYMNTS in an interview that bridging the gap between the promise of open banking and making that promise a reality is easier said than done, especially in the United States.He noted that in Europe, regulators and governments have played the prime role in advancing open banking, as well as open banking principles. The critical components have been the data sharing and the control of personal data, which has been put firmly in the hands of consume ...

According to NCR Voyix President Doug Brown, the post-pandemic years have ushered in the age of digitally connective, and interactive, banking.Consumers may have been banking before the great digital shift. But now, the tools and channels are in place to use digital offerings in combination with the branch settings — where interactive ATMs and teller stations have led to a better experience no matter where the consumer opts to fulfill their day-to-day financial needs. And they’re taking a page out of the re ...

ATLANTA--(BUSINESS WIRE)--NCR Voyix Corporation (NYSE: VYX), a leading provider of technology solutions to the retail, restaurant and banking industries, today announced the appointment of Irv Henderson to its Board of Directors. Mr. Henderson brings more than two decades of experience in software development and point-of-sale (POS) software to the NCR Voyix Board of Directors. He most recently served as executive vice president and chief digital officer at U.S. Bank, where he led development and executi ...

☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 FORM 10-K ________________________ (Mark One) Table of Contents or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ Commission File Number: 001-00395 NCR VOYIX CORPORATION (Exact name of registrant as specified in its charter) Maryland 31-0387920 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identi ...

ATLANTA--(BUSINESS WIRE)--NCR Voyix Corporation (NYSE: VYX), a leading global platform and provider of digital commerce solutions for the retail, restaurant and banking industries, today announced that $8.5 billion-asset Nicolet National Bank (Nicolet Bank) has selected NCR Voyix to enhance and improve its customer experience for digital banking. Green Bay, Wisconsin-based Nicolet Bank serves communities across Wisconsin, Michigan and parts of Minnesota. As part of a strategic effort to improve the custo ...

NCR Voyix Corporation (NYSE:VYX) Q4 2023 Results Conference Call February 29, 2024 4:30 PM ET Company Participants Alan Katz - Vice President, Investor Relations David Wilkinson - Chief Executive Officer Brian Webb-Walsh - Chief Financial Officer Conference Call Participants Mayank Tandon - Needham & Company Sabrina Hao - Morgan Stanley Kartik Mehta - Northcoast Research. Matthew Roswell - RBC Isaac Sellhausen - Oppenheimer & Company Operator Greetings, welcome to the NCR Voyix Corporation Q4 and Full Year ...