NCR Voyix Corp(VYX) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $684 million, a decrease of 3.4% compared to $708 million in the prior year period[6] - Net loss from continuing operations was $17 million, an improvement from a net loss of $29 million in the prior year period[6] - Adjusted EBITDA for Q3 2025 was $125 million, up 31.6% from $95 million in the prior year period[6] - Annual recurring revenue (ARR) reached $1.7 billion, an increase of 6.3% from $1.6 billion in the prior year[6] - Software ARR increased to $798 million, up 7.6% from $742 million in the prior year[6] - Total revenue for the nine months ended September 30, 2025, was $1,967 million, down 8% from $2,140 million in the same period of 2024[29] - Retail segment revenue decreased by 4% to $467 million in Q3 2025, and by 10% to $1,341 million for the nine months[29] - Adjusted EBITDA for Q3 2025 increased by 32% to $125 million, compared to $95 million in Q3 2024[29] - Income (loss) from continuing operations for Q3 2025 was $(17) million, compared to $(29) million in Q3 2024[29] - Net income (loss) attributable to NCR Voyix common stockholders for Q3 2025 was $(22) million, compared to $1,078 million in Q3 2024[29] - Net income for the nine months ended September 30, 2025, was a loss of $36 million, compared to a net income of $968 million in 2024[34] Cash Flow and Assets - Cash and cash equivalents decreased to $282 million as of September 30, 2025, from $722 million at the end of 2024[32] - Total assets decreased to $4,003 million as of September 30, 2025, from $4,452 million at the end of 2024[32] - Total liabilities decreased to $2,879 million as of September 30, 2025, from $3,245 million at the end of 2024[32] - Net cash used in operating activities was $270 million, a significant decrease from $38 million provided in the same period last year[34] - Cash and cash equivalents at the end of the period decreased to $292 million from $825 million in 2024[34] - Net cash used in investing activities was $110 million, down from $2,017 million in the previous year, primarily due to lower proceeds from divestitures[34] - Financing activities resulted in a net cash outflow of $90 million, compared to an outflow of $1,496 million in 2024[34] - The company reported a loss on divestiture of $2 million, a significant improvement from a loss of $1,560 million in the previous year[34] - Changes in other assets and liabilities resulted in a net cash outflow of $413 million, contrasting with a cash inflow of $271 million in the previous year[34] Operational Metrics - The company updated its full-year 2025 revenue outlook to $2,650 million – $2,670 million[5] - Software and services revenue is projected to be $1,980 million – $1,990 million for the full year 2025[5] - As of September 30, 2025, the company had 78 thousand platform sites, a 12% increase from the prior year[9] - Adjusted free cash flow-unrestricted is projected to be $170 million - $175 million for the full year 2025[5] - The company incurred $47 million in transformation and restructuring costs for the three months ended September 30, 2025, compared to $16 million in the same period of 2024[23] - The weighted average diluted shares outstanding for the three months ended September 30, 2025, was 138.2 million, compared to 145.4 million in the same period of 2024[24] - The company reported $6 million in acquisition-related amortization of intangibles for the three months ended September 30, 2025, down from $7 million in the same period of 2024[23] - Strategic initiatives contributed $4 million to adjusted EBITDA for the three months ended September 30, 2025, compared to $12 million in the same period of 2024[23] - The interest expense for the three months ended September 30, 2025, was $15 million, significantly lower than $40 million in the same period of 2024[23] - NCR Voyix's non-GAAP diluted EPS for the three months ended September 30, 2025, was $0.31, compared to $0.01 in the same period of 2024[24] Depreciation and Expenses - Depreciation and amortization expenses decreased to $173 million from $237 million year-over-year[34] - Stock-based compensation expense decreased to $26 million from $39 million in the prior year[34] - The company experienced a decrease in inventories by $26 million, compared to an increase of $37 million in 2024[34]