Financial Performance - Fourth quarter revenue was $682 million, down from $796 million in the prior year, representing a decrease of 14.3%[6] - Net loss from continuing operations was $9 million, significantly improved from a loss of $272 million in the prior year[6] - Adjusted EBITDA for the fourth quarter was $114 million, an increase of 75.4% compared to $65 million in the prior year[6] - Annual revenue for 2024 was $2.8 billion, down from $3.2 billion in the prior year, a decrease of 12.5%[6] - The company reported a net loss of $202 million for the full year, improved from a loss of $729 million in the prior year[6] - Total revenue for the year-to-date (YTD) 2024 was $2,826 million, down from $3,178 million in YTD 2023, representing a decrease of approximately 11.1%[27] - Total revenue for the twelve months ended December 31, 2024, was $2.826 billion, down 11% from $3.178 billion in 2023[31] - The company reported a net loss of $11 million in Q4 2024, compared to a net loss of $319 million in Q4 2023[31] - Net income for the twelve months ended December 31, 2024, was $957 million, a significant improvement from a net loss of $423 million in 2023[38] Revenue Breakdown - Annual recurring revenue (ARR) increased to $1.64 billion, up from $1.56 billion in the prior year, a growth of 5.1%[6] - Retail segment revenue decreased by 15% to $461 million in Q4 2024, while restaurant segment revenue decreased by 5% to $211 million[33] - Software & Services Revenue for Q4 2024 was $521 million, slightly down from $530 million in Q4 2023, showing a decrease of about 1.7%[28] Future Projections - The company expects total revenue for 2025 to be between $2,575 million and $2,650 million[8] - Adjusted EBITDA for 2025 is projected to be between $420 million and $445 million, representing an adjusted EBITDA margin of 16.3% to 16.8%[8] Cash Flow and Assets - Cash and cash equivalents increased to $724 million as of December 31, 2024, from $259 million a year earlier[36] - Total current assets rose to $1.671 billion, up from $1.206 billion in the previous year[36] - Net cash provided by operating activities decreased to $(132) million in 2024 from $694 million in 2023[38] - Net cash provided by investing activities increased to $2,189 million in 2024, compared to $(290) million in 2023[38] - Cash, cash equivalents, and restricted cash at the end of the period increased to $758 million in 2024 from $285 million in 2023[38] Debt and Equity - Long-term debt decreased significantly to $1.098 billion from $2.563 billion year-over-year[36] - The company completed a $100 million share repurchase, acquiring 7.3 million shares[9] - The company incurred stock-based compensation expense of $47 million in 2024, a decrease from $177 million in 2023[38] Operational Metrics - As of December 31, 2024, the company had 74,000 platform sites and 7,000 payment sites, reflecting year-over-year increases of 26% and 8%, respectively[9] - Adjusted free cash flow-unrestricted for Q4 2024 was $114 million, compared to $65 million in Q4 2023, indicating a significant increase[25] - The company’s adjusted EBITDA for the full year 2024 was $347 million, slightly up from $337 million in 2023[25] - Total gross margin for Q4 2024 was $149 million, representing 21.8% of revenue, compared to 13.9% in Q4 2023[31] Other Financial Impacts - The company reported strategic initiatives contributing $30 million to adjusted EBITDA in Q4 2024[25] - The company experienced a foreign currency devaluation impact of $0.08 on diluted earnings per share for Q4 2024[29] - The effect of exchange rate changes on cash was $(24) million in 2024, compared to $(20) million in 2023[38] - Payments on term credit facilities decreased significantly to $(200) million in 2024 from $(1,878) million in 2023[38] - The company reported a loss on divestiture of $1,544 million in 2024, contrasting with a gain of $12 million in 2023[38] - Proceeds from divestiture, net, amounted to $2,458 million in 2024, compared to $96 million in 2023[38]
NCR Voyix Corp(VYX) - 2024 Q4 - Annual Results