Financial Data and Key Metrics Changes - Total revenue increased by 6% to $720 million, driven by higher hardware sales [24] - Reported recurring revenue increased by 1% to $422 million, and 3% when excluding certain divestitures [24] - Adjusted EBITDA increased by 17% to $130 million, with a margin expansion of 170 basis points to 18.1% [25] - Non-GAAP EPS increased by 48% to $0.31, while GAAP EPS was $0.49, including a $65 million tax benefit [25] Business Line Data and Key Metrics Changes - Retail segment revenue increased by 9% to $501 million, with recurring revenue up by 3% to $279 million [26] - Restaurant segment revenue was flat at $212 million, with recurring revenue increasing by 6% in enterprise and mid-market businesses [27] - Platform sites increased by 8% to 80,000, and payment sites increased by 4% to 8,600 [24] Market Data and Key Metrics Changes - The company signed 40 new retail customers in Q4, with platform and payment sites increasing by 6% and 12% respectively [17] - The restaurant business signed over 150 new customers, with platform and payment sites increasing by 11% and 3% respectively [20] Company Strategy and Development Direction - The company is transitioning to a platform-led business model, focusing on integrated payment solutions and service capabilities [4][6] - A five-year transformation was completed, modernizing over 50 legacy applications into a unified scalable platform [5][6] - The company aims to build backlog across all markets and accelerate deployments in 2026 [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's competitive positioning and the strength of its platform, emphasizing the importance of building meaningful sales backlog [33] - The company anticipates revenue growth in 2026, driven by software services and payments, despite headwinds from AI and chip consumption [58][61] - Management noted that the enterprise segment takes time for modernization, with expected deployment timelines of 9 to 18 months [37][46] Other Important Information - The phased transition of the hardware business to Ennoconn commenced in early January, expected to complete by the end of Q1 [9] - The company is enhancing its proprietary payment gateway, Voyix Connect, to improve security and scalability [15][16] Q&A Session Summary Question: Can you provide context around the backlog metric mentioned? - Management indicated that backlog is a key metric for assessing health and revenue accumulation, with 20 customer contracts already signed for deployment [36][40] Question: Can you elaborate on the headwinds faced in the SMB segment? - Management noted that the SMB segment is the smallest and faces significant competition, with a need for a more competitive product to address market dynamics [48][50][55] Question: What is the expected organic revenue growth rate post-ODM transition? - Management expects improved organic revenue growth in 2026, particularly in software services and payments, while acknowledging potential market challenges [58][61]