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Total turnover: $708 million, down 11%.
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Adjusted EBITDA: $101 million.
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Adjusted EBITDA margin: 14.3% on a normalized basis.
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Software revenue: $245 million, down 2% from last year.
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Services income: $271 million, down 3%.
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Restaurant segment turnover: $211 million, down 7% on a normalized basis.
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Adjusted EBITDA for restaurant segments: $66 million, up 27%.
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Retail segment turnover: Normalized basis fell 12%.
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Adjusted EBITDA for retail segments: $108 million, down 12%.
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Debt reduction: $1.8 billion from digital banking sales revenue.
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Annual reduction in cash interest costs: About $95 million.
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Free cash flow: Use of $45 million, including $80 million in transaction-related fees.
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Cloud Native Commerce Platform sites: About 70,000, an increase of 25% over the previous year.
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Software ARR increase: 2% in the quarter.
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Share buyback program: The plan is to use approximately $100 million for buybacks.
Release date: November 7, 2024
For the full earnings call transcript, please refer to the full earnings call transcript.
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NCR Voyix Corp (NYSE:VYX) completed the sale of its digital banking segment ahead of schedule, raising gross proceeds of $2.45 billion, significantly improving the company’s balance sheet.
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The company reduced its debt load by approximately $1.8 billion, leading to a reduction in annual cash interest expense by approximately $95 million.
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NCR Voyix Corp (NYSE:VYX) saw a 25% increase in the number of sites on its cloud-native commerce platform, indicating strong growth in its digital transformation efforts.
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The company signed more than 230 new software customers in its restaurant segment, demonstrating momentum in expanding its customer base.
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NCR Voyix Corp (NYSE:VYX) is investing in next-generation cloud solutions and restructuring its sales teams to drive growth, signaling a strategic focus on future expansion and capturing market share.
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Total revenue for the quarter declined 11%, primarily due to lower hardware and hardware-related installation services.
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Software and services revenue remained stable when excluding the negative impact of a one-off software true-up compared to the previous year.
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The company experienced a 28% decline in hardware sales within its retail segment, impacting overall revenue.
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Adjusted EBITDA was lower compared to the prior year due to spin-related synergies, despite sequential improvements versus the second quarter.
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NCR Voyix Corp (NYSE:VYX) expects hardware demand to remain flat or slightly down, which could continue to put pressure on revenue growth.
