Revenue Performance - Revenue for Q3 2023 was $2,017 million, a 2% increase compared to the same period last year[209]. - Recurring revenue increased by 7% year-over-year, accounting for 65% of total consolidated revenue[209]. - Total revenue for the three months ended September 30, 2023, increased by 2% to $2,017 million compared to $1,972 million in 2022[224]. - Total revenue for the nine months ended September 30, 2023, increased by 1% to $5,894 million compared to $5,835 million in 2022[225]. - Digital Banking revenue increased by 7% in Q3 2023, reaching $147 million compared to $137 million in Q3 2022[251]. - Payments & Network revenue increased by 6% in Q3 2023, totaling $357 million, due to higher margin ATM transactions[257]. - Self-Service Banking revenue grew by 4% in Q3 2023, totaling $666 million, driven by recurring ATM as-a-Service arrangements[258]. Segment Performance - The company will manage its operations using three reportable segments: Retail, Restaurant, and Digital Banking starting Q4 2023[201]. - Adjusted EBITDA for Hospitality segment increased by 16% in Q3 2023, reaching $59 million, compared to $51 million in Q3 2022[260]. - Retail Adjusted EBITDA rose by 3% in Q3 2023, totaling $132 million, attributed to a favorable revenue mix and cost improvements[259]. - Self-Service Banking Adjusted EBITDA increased by 13% in Q3 2023, reaching $169 million, primarily due to improvements in component and fuel costs[263]. - Digital Banking Adjusted EBITDA decreased by 3% in Q3 2023, totaling $58 million, impacted by increased selling and R&D expenses[261]. Profitability and Margins - Total gross margin for Q3 2023 was $627 million, a 28% increase from $491 million in Q3 2022[212]. - Gross margin for the nine months ended September 30, 2023, was 27.7%, up from 23.5% in the same period of 2022, benefiting from $85 million of unrealized gains on terminated interest rate derivative contracts[229]. - Adjusted EBITDA for the three months ended September 30, 2023, was $404 million, representing a 6% increase from $380 million in 2022[216]. - Adjusted EBITDA for the nine months ended September 30, 2023, was $1,095 million, an 11% increase from $990 million in 2022[216]. Expenses - Selling, general and administrative expenses for the nine months ended September 30, 2023, were $956 million, an 8% increase from $886 million in 2022, with the percentage of total revenue rising from 15.2% to 16.2%[233]. - Research and development expenses for the nine months ended September 30, 2023, were $164 million, a decrease from $175 million in 2022, with the percentage of total revenue increasing from 2.8% to 3.0%[236]. - Interest expense for the nine months ended September 30, 2023, was $259 million, a 27% increase from $204 million in 2022, primarily due to rising variable interest rates[240]. Cash Flow and Debt - Net cash provided by operating activities increased to $728 million for the nine months ended September 30, 2023, up from $245 million in the same period of 2022, driven by a favorable movement in net working capital accounts of $570 million[267]. - Adjusted free cash flow-unrestricted for the nine months ended September 30, 2023, was $421 million, a significant increase of $459 million compared to a negative $38 million in 2022[269]. - Total debt as of September 30, 2023, was $7.65 billion, with cash and cash equivalents totaling $675 million[285]. - The Senior Secured Credit Facility had an outstanding balance of $1.801 billion as of September 30, 2023, with an additional $438 million drawn from a five-year Revolving Credit Facility[272]. - On October 16, 2023, the company made a cash distribution of approximately $3.0 billion to repay all accrued and unpaid loans under the Senior Secured Credit Facility[278]. Strategic Initiatives - The company anticipates a focus on transforming into a software-led as-a-service company with a higher mix of recurring revenue streams[291]. - The company plans to continue advancing its strategic growth initiatives and expects to deliver increased value to customers and stockholders[291]. - The company has a strategy focused on transforming its business model and integrating acquisitions, which may take longer to realize than expected[293]. Risks and Challenges - The company continues to face macroeconomic pressures, including supply chain challenges and foreign currency fluctuations[207]. - The company faces risks related to data privacy and cybersecurity, including a ransomware incident in April 2023[296]. - The potential strategic benefits from the separation of the company may not be fully realized, impacting stockholder value[293]. - The company is managing its level of indebtedness and cash flow sufficiency to service its debt obligations[296]. Foreign Currency Exposure - The company experienced a 1% unfavorable impact from foreign currency fluctuations on total revenue for the nine months ended September 30, 2023[225]. - As of September 30, 2023, the company had exposure to approximately 45 functional currencies, impacting its results due to foreign currency exchange rate fluctuations[297]. - A 10% appreciation in the value of the U.S. Dollar against foreign currencies would decrease the fair value of the hedge portfolio by $32 million as of September 30, 2023[299]. - The company hedges foreign currency risks primarily through forward and option contracts related to inter-company inventory purchases[297].

NCR Voyix Corporation (NYSE:VYX) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Michael Nelson - Treasurer and Vice President, Investor Relations David Wilkinson - Chief Executive Officer Brian Webb-Walsh - Chief Financial Officer Conference Call Participants Dan Perlin - RBC Capital Markets Matt Summerville - D.A. Davison Erik Woodring - Morgan Stanley Ian Zaffino - Oppenheimer Operator Good day. And welcome to the NCR Voyix Corporation Third Quarter Fiscal Year 2023 Earn ...

NCR Corporation (NCR) Q2 2023 Earnings Conference Call August 2, 2023 4:30 PM ET Company Participants Michael Nelson - Treasurer and VP-IR Mike Hayford - CEO Tim Oliver - CFO Owen Sullivan - President and COO David Wilkinson - President, Commerce Business and CEO, NCR Voyix Conference Call Participants Charles Nabhan - Stephens Matt Summerville - D.A. Davidson Kartik Mehta - North Coast Research Erik Woodring - Morgan Stanley Isaac Sellhausen - Oppenheimer Operator Good day and welcome to the NCR Corporatio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ FORM 10-Q ________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 CORPORATION (Exact name ...

1 Q1 2023 EARNINGS CONFERENCE CALL MICHAEL HAYFORD, CEO OWEN SULLIVAN, PRESIDENT & COO TIM OLIVER, CFO May 4, 2023 NOTES TO INVESTORS FORWARD-LOOKING STATEMENTS. Comments made during this conference call and in these materials contain "forwardlooking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "Act ...

NCR Corporation (NCR) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET Company Participants Michael Nelson - Treasurer & Investor Relations Mike Hayford - Chief Executive Officer Tim Oliver - Chief Financial Officer Owen Sullivan - President & Chief Operating Officer Conference Call Participants Paul Chung - JPMorgan Charles Nabhan - Stephens Matt Summerville - D.A. Davidson Ian Zaffino - Oppenheimer Matthew Roswell - RBC Capital Markets Operator Good day and welcome to the NCR Corporation First Qua ...

Table of Contents or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________ For the transition period from ____________ to ____________ Commission File Number: 001-00395 FORM 10-Q ________________________ NCR CORPORATION (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 Securities ...

Business Strategy and Transformation - NCR Corporation is transitioning to a software platform and payments company, aiming for a higher level of recurring revenue[24]. - The company completed the acquisition of Cardtronics in 2021 and LibertyX in early 2022 to enhance its NCR-as-a-Service strategy and digital currency solutions[18]. - The company plans to separate into two independent publicly traded companies by the end of 2023, focusing on digital commerce and ATMs[25]. - The company is shifting its business model towards a software- and services-led enterprise, focusing on increasing software and services revenue and recurring revenue[97]. - The planned separation of NCR into two independent companies may not achieve anticipated benefits and could lead to increased volatility in stock price[94]. Customer Experience and Engagement - NCR's Net Promoter Score increased from 14 in 2018 to 52 in 2022, indicating improved customer experience and engagement[27]. - NCR's digital banking solutions enable financial institutions to implement a digital-first platform strategy, enhancing customer experience[31]. - NCR's solutions are designed to improve operational efficiency and customer satisfaction across retail, hospitality, and financial services sectors[29][30][32]. Financial Performance and Revenue - NCR's sales have historically been seasonal, with lower revenue in the first quarter and higher revenue in the fourth quarter, but a shift towards recurring software and services revenue is expected to make sales more linear over time[46]. - For the years ended December 31, 2022 and 2021, 45% and 49% of the company's revenue came from outside the United States, respectively[104]. - NCR's revenues are significantly impacted by ATM transaction fees, which could decline due to reduced ATM usage or competitive pricing pressures[116]. - The company is exposed to risks from the proliferation of electronic payment methods, which may decrease the demand for cash and ATM services[115]. Research and Development - The company focuses on high-quality, innovative products, with significant investments in research and development for digital banking and retail solutions[27]. - Research and development expenses were $217 million in 2022, down from $268 million in 2021 and $234 million in 2020, with expectations for continued significant expenditures in the future[43]. - NCR owns approximately 1,350 patents in the United States and numerous foreign patents, with many patents licensed to others, indicating a strong intellectual property portfolio[44]. Competition and Market Position - The company faces competition from various firms in the financial, retail, and hospitality industries, including Fidelity National Information Services and Oracle Corporation[40][41]. - The company faces significant competition from larger firms in the technology industry, which may affect its market position and operating performance[99]. Environmental and Social Governance (ESG) - NCR is committed to achieving Net Zero GHG emissions by 2050 and reports its Scope 1 and Scope 2 emissions through the CDP[64]. - The company maintains ISO 14001 certification for its manufacturing facility in Chennai, India, and its global headquarters in Atlanta has received two LEED Platinum certifications[65]. - The Risk Committee at the Board level oversees the enterprise risk management framework, including operational, strategic, and ESG risks[52]. - NCR's focus on diversity, equity, and inclusion is supported by its Board of Directors and aims to create a globally inclusive workplace[72]. Workforce and Talent Management - Welcomed over 1,150 university hires, including both graduates and interns[73]. - Conducted annual employee engagement surveys yielding an Employee Net Promoter Score (eNPS) reported to the Executive Leadership Team and the Board[73]. - Improved supplier diversity program utilizing small businesses, including minority, women, and veteran-owned enterprises[77]. - Launched a new Leadership Development Program targeted towards top talent[73]. - Invested in market-based salary increases for early career software engineering to enhance competitiveness[73]. Financial Risks and Liabilities - As of December 31, 2022, the company had approximately $5.71 billion in total indebtedness outstanding[145]. - The company may incur additional debt despite current levels, which could increase financial risks[152]. - The company is subject to significant compliance burdens due to evolving data privacy laws, including potential fines of up to €20 million or 4% of annual global revenues for GDPR violations[144]. - The company’s ability to generate positive cash flows from operations is critical for timely payments of principal and interest on its debt obligations[157]. Operational Challenges - The company has faced disruptions in its data center hosting and public cloud facilities, which could adversely affect its business and lead to potential revenue loss due to service interruptions[124]. - The company relies on third-party suppliers for critical components, and any inability to secure necessary services could delay product shipments and impact business operations[127]. - The COVID-19 pandemic has created significant volatility and uncertainty, affecting customer demand and potentially leading to delays in payments and capital expenditures[133]. Intellectual Property and Compliance - The company is exposed to risks related to intellectual property protection, including potential infringement claims that could disrupt operations and lead to significant liabilities[178]. - The company may need to engage in costly and time-consuming litigation to enforce its intellectual property rights, which could distract management and impact business operations[176]. - The company is subject to diverse and complex laws and regulations that could create substantial compliance burdens and increase operational costs[183].

NCR Corporation (NCR) Q4 2022 Earnings Conference Call February 7, 2023 4:30 PM ET Company Participants Michael Nelson - Treasurer and Investor Relations Mike Hayford - Chief Executive Officer Owen Sullivan - President and Chief Operating Officer Tim Oliver - Chief Financial Officer Conference Call Participants Paul Chung - JPMorgan Matt Summerville - D.A. Davidson Charles Nabhan - Stephens Erik Woodring - Morgan Stanley Operator Good day and welcome to the NCR Corporation Fourth Quarter Fiscal Year 2022 Ea ...

Financial Performance - Full Year 2022 - NCR's revenue increased by 10% year-over-year (Y/Y) as reported, and 13% on a constant currency (CC) basis[12, 7] - Recurring revenue grew by 16% Y/Y as reported, and 20% on a CC basis[12, 7] - Adjusted EBITDA increased by 10% Y/Y as reported, and 16% on a CC basis[12, 7] - Non-GAAP diluted EPS increased by 2% Y/Y as reported, and 12% on a CC basis, with a foreign exchange (FX) impact of $(022)[12] - Free cash flow was $164 million, impacted by near-term investments in working capital[12] Financial Performance - Q4 2022 - Revenue decreased by 1% Y/Y as reported but increased by 2% on a CC basis[10] - Recurring revenue increased by 3% Y/Y as reported and 7% on a CC basis[10] - Adjusted EBITDA increased by 8% Y/Y as reported and 14% on a CC basis[10] - Non-GAAP diluted EPS increased by 4% Y/Y as reported and 8% on a CC basis, with an FX impact of $(003)[10] Strategic Initiatives and Outlook - NCR plans to separate into two public companies[9] - The company provides FY 2023 revenue guidance of $78 billion - $80 billion and adjusted EBITDA guidance of $145 billion - $155 billion[21]