Diebold Nixdorf Incorporated · NYSE:DBD
Diebold Nixdorf — Investor Day (February 2025)
85 slides from Diebold Nixdorf's investor day presentation, Feb 26, 2025
Slide 1: 2025 Investor Day
2025 Investor Day February 26, 2025 dieboldnixdorf.com
Slide 2: Forward-looking Statements
2 Forward-looking Statements This presentation may contain statements that are not historical information and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements give current expectations or forecasts of future even
Slide 3: Use of Non-GAAP Financial Information
3 Use of Non-GAAP Financial Information To supplement our condensed consolidated financial information presented in accordance with GAAP, the Company considers certain financial measures that are not prepared in accordance with GAAP, including Non-GAAP results, Non-GAAP operating profit margin, adju
Slide 4: Agenda
Agenda SECTION SPEAKER Diebold Nixdorf Overview and Strategy Octavio Marquez Global Banking Growth Strategy Joe Myers Global Retail Growth Strategy Ilhami Cantadurucu Break Continuous Improvement Journey Frank Baur Financial Overview Tom Timko Strategic Value Creation Octavio Marquez Question and An
Slide 5: Diebold Nixdorf Overview and Strategy
Octavio Marquez President & Chief Executive Officer Diebold Nixdorf Overview and Strategy
Slide 6: Diebold Nixdorf Overview
Diebold Nixdorf Overview
Slide 7: Diebold Nixdorf Investment Thesis
7 Diebold Nixdorf Investment Thesis Delivering value creation across three key drivers Capturing Driving Increasing Secular Growth & Cash Tailwinds Profitability Generation Well positioned to We are in the initial stages We plan to deliver capitalize on growing of our LEAN journey significant and gr
Slide 8: Our Strengthened Management Team
8 Our Strengthened Management Team Strong team with a track record of success to take the business to the next level Octavio Marquez Tom Timko President and Executive Vice President Joe Myers Ilhami Cantadurucu Chief Executive Officer and Chief Financial Officer Executive Vice President, Executive V
Slide 9: Diebold Nixdorf at a Glance
9 Diebold Nixdorf at a Glance Global market leader providing mission-critical hardware, software, and services to global blue-chip banking and retail clients A global enterprise enabling transactions for $3.75B ~70% 25.3% $452M 800k+ 100+ millions of consumers each day across both FY2024 of Service
Slide 10: Global Banking and Retail Leader in 100+ Markets
10 Global Banking and Retail Leader in 100+ Markets Diversified global footprint provides local proximity to the top growth markets BANKING BANKING Paderborn, Germany Canada #1 in ATMs Installed Globally1 UK Poland France Czech Republic in Total ATM Application USA Spain #1 and Monitoring Software2
Slide 11: Transforming How People Bank and Shop
11 Transforming How People Bank and Shop Complementary businesses deliver automation and self-service to improve operational efficiency for banks and retailers BANKING RETAIL Branch Automation Cash Engagements Kiosk & Self-Checkout AI-enabled Solutions Recycling ePOS (SCO) Automation Deposit Advance
Slide 12: Critical Partner to Leading Global Blue-Chip Customers
12 Critical Partner to Leading Global Blue-Chip Customers Our long-standing customers continue to invest in innovative technology • Top 100 Financial Institutions in the World • Top 25 Retailers in Europe • 8 Out of 10 Global Fortune 500 Petroleum Companies BANKING RETAIL
Slide 13: Strongest In-House Service Organization in the Industry
13 Strongest In-House Service Organization in the Industry Our technology leadership in services drives a >90% service attach rate and renewal rate Traditional Services Managed Services Outsourcing Strongest global service firm with Utilizing AI-based predictive analytics High visibility and recurri
Slide 14: Two Large and Growing Global TAMs
14 Two Large and Growing Global TAMs Unlocking additional growth opportunities via Banking branch automation and Retail AI-driven checkout BANKING RETAIL ~$20B ~$12B • Low-single digit annual growth rate • Mid-single digit annual growth rate • Expanding DN’s addressable market via • Expanding DN’s a
Slide 15: ATM Industry Usage Facts
15 ATM Industry Usage Facts Stable installed base and ATM usage drives our growth via predictable and consistent ATM refresh demand GLOBAL ATM INSTALLED BASE (000) (1) GROWTH IN VALUE OF ATM CASH WITHDRAWALS (USD, 2024 = 100) (1) Stable 130 2,071 2,073 World 125 120 4.5% CAGR 115 110 105 USA 100 0.7
Slide 16: DN's Reality: Large ATM Refresh Opportunity
16 DN’s Reality: Large ATM Refresh Opportunity We are in the early stages of a refresh cycle providing clear visibility to Banking growth DN ATM INSTALLED UNITS (000)(1) ~75% global installed base refresh opportunity ~800 ~600 Higher Service & Installed ATM ~200 Penetration of Software & Recurring R
Slide 17: Customers Prefer Retail Self-Checkout
17 Customers Prefer Retail Self-Checkout Self-checkout solutions offer attractive, long-term growth opportunity as retailers adopt solution GLOBAL ELECTRONIC POINT-OF-SALE (EPOS) INSTALLED BASE (1) GLOBAL SELF-CHECKOUT (SCO) INSTALLED BASE (1) (UNITS IN MILLIONS) (UNITS IN MILLIONS) 20 3 15.9 2.1 15
Slide 18: Well-Positioned for Retail Market Share Gains
18 Well-Positioned for Retail Market Share Gains Significant market share opportunity in North America - we are working to replicate our success in EMEA in North America NORTH AMERICA SELF-CHECKOUT (SCO) SHIPMENTS (1): TOTAL SELF CHECKOUT SHIPMENTS FORECAST GROWTH (000) (2023 IN 000) (1) Doubling ma
Slide 19: Diebold Nixdorf Strategy
Diebold Nixdorf Strategy
Slide 20: Positioning the Company for Long-Term Success
20 Positioning the Company for Long-Term Success Employing the right structure, culture and goals to drive value creation 1 Improved capital structure and maintain a fortress balance sheet 2 Embedded operational excellence and Continuous Improvement mindset 3 Driving consistent, profitable growth
Slide 21: Strategic Changes Set New Path Forward
21 Strategic Changes Set New Path Forward PAST PRESENT Growth Variable, cyclical Balanced, recurring Organization Complex Simple, focused Culture Short-term focus Performance driven / Say-do ratio Operations One-time cost reduction Continuous Improvement & LEAN Principles Free Cash Flow Low, minimal
Slide 22: Executing Clearly Defined Strategy for Profitable Growth
22 Executing Clearly Defined Strategy for Profitable Growth Expand Unlock New Growth Accelerate Deliver core business opportunities – Continuous Adj. EBITDA margin with best-in-class business & Improvement expansion and solutions geography FCF generation
Slide 23: Our Growth Acceleration Plan – 3 Year Targets
23 Our Growth Acceleration Plan – 3 Year Targets 2024 2025E 2026E 2027E $3.75 to $3.80B $3.82 to $3.92B $3.98 to $4.08B Profitable Revenue Growth $3.75B Flat to LSD Growth LSD Growth MSD Growth $470 to $490M $500 to $530M $550 to $600M Strong Adjusted EBITDA Growth1,2 $452M MSD Growth HSD Growth Low
Slide 24: Global Banking Growth Strategy
Joe Myers Executive Vice President, Global Banking Global Banking Growth Strategy
Slide 25: Leading Market Position and Solutions Breadth with Opportunity to Expand Services
25 Leading Market Position and Solutions Breadth with Opportunity to Expand Services REVENUE BY TYPE REVENUE BY REGION $2.76B 2024 Revenue SERVICE 57% PRODUCT 43% NORTH AMERICA 37% LATIN AMERICA 20% EUROPE 26% APMEA & OTHER 17%
Slide 26: Secular Growth Trends Driving Banking Investment Shifts
26 Secular Growth Trends Driving Banking Investment Shifts Consumer FI1 Footprint Closed Loop Physical and Expectations Transformation Cash Ecosystems Digital Security Consumers demanding more Branch footprints at lower cost Bank simplification and High levels of physical and self-service with many
Slide 27: Why Do Banks Need DN?
27 Why Do Banks Need DN? DN is a trusted advisor with comprehensive solutions that enable financial institutions to drive cost optimization in the physical branch footprint and provide digital self-service banking Physical Digital DN IS FUTURE READY ATMs & Branch Design & Managed Services & Vynamic
Slide 28: Global Leadership is a Core Competitive Advantage
28 Global Leadership is a Core Competitive Advantage Our leadership gives us the right to win as we drive additional efficiencies across the Banking ecosystem EUROPE BANKING N. AMERICA w/o Russia #3 #1 21% share #1 in ATMs Installed Globally1 47% share #1 L. AMERICA in Total ATM Application w/o Braz
Slide 29: Banking Strategy Driving Growth and Margin Expansion
29 Banking Strategy Driving Growth and Margin Expansion Pursuing dual paths to drive profitable Banking growth Optimize Branch Efficiency in Branch Developed Markets Automation Solutions MSD top-line growth by 2027 and higher segment margins Increase Recurring Revenue Fit-for- Streams in Emerging Ma
Slide 30: Increasing TAM by $8B with Branch Automation Solutions
30 Increasing TAM by $8B with Branch Automation Solutions End-to-end branch automation solutions across hardware, software and service increase DN’s addressable market – DN is uniquely positioned to capture this opportunity TOTAL ADDRESSABLE MARKET ($B)(1) MARKET DRIVERS • Branch automation solution
Slide 31: Branch Automation Solutions (BAS) Drives Banking Efficiency
31 Branch Automation Solutions (BAS) Drives Banking Efficiency 70% of global bank operating expense is at the branch – this is where DN creates value with BAS BANK OPERATING EXPENSES BRANCH TELLER OPTIMIZATION TOTAL ADDRESSABLE MARKET FUNCTION CURRENT FUTURE # OF BRANCHES 2023* Teller line 3 lines 1
Slide 32: Emerging Market Framework – Fit for Purpose Hardware
32 Emerging Market Framework – Fit for Purpose Hardware Differentiated right to win combined with a comprehensive go-to-market approach DEVICE DESCRIPTION RATIONALE • Target market: Asia Pacific • Expect high-single digit CAGR unit growth DN 100i • Local parts & production • Over 90% service attach
Slide 33: Partnering to Meet Next Generation Needs
33 Partnering to Meet Next Generation Needs DN BANKING PARTNERS | CUSTOMERS
Slide 34: TD Bank's View on the Current Cash Ecosystem
TD Bank’s View on the Current Cash Ecosystem
Slide 35: Growth Strategy Focused on Modernization, Attach & Efficiency
35 Growth Strategy Focused on Modernization, Attach & Efficiency HARDWARE SOFTWARE SERVICES Upgrade existing install Consolidate bank Optimize bank base with DN Series software platforms to footprint and and cash recycling DN ecosystem increase efficiency Acceleration of branch automation Developed
Slide 36: Global Retail Growth Strategy
Ilhami Cantadurucu Executive Vice President, Global Retail Global Retail Growth Strategy
Slide 37: Retail Is Enhancing Consumer Checkout Journeys and Store Productivity
37 Retail Is Enhancing Consumer Checkout Journeys and Store Productivity with Self-Service and Automation REVENUE BY TYPE REVENUE BY REGION $988M 2024 Revenue SERVICE 57% PRODUCT 43% EMEA 85% APAC 8% AMERICAS 7%
Slide 38: Secular Growth Trends Driving Growth in Retail Checkout
38 Secular Growth Trends Driving Growth in Retail Checkout Consumer Store Labor Sustainability Expectations Digitalization Dynamics Creating enhanced, Looking to complement Greater store automation and Retailers continue their personalized, friction-free physical shopping journeys by changing role o
Slide 39: Retail Strategy is Driving Growth and Margin Expansion
39 Retail Strategy is Driving Growth and Margin Expansion Pursuing multiple paths to drive profitable Retail growth Expand Offerings in our Core Markets (Europe) MSD top-line Enhance Value growth by 2027 with AI and Checkout Solutions higher segment margins Unlock Growth Potential in Underpenetrated
Slide 40: Holistic Retail Solutions Across the Value Chain
40 Holistic Retail Solutions Across the Value Chain HARDWARE DN Solutions Growth drivers Hardware • Electronic Point-of-Sale (ePOS) • Upgrade legacy ePOS • Self-service Order Kiosk • Convert ePOS to Self-service units • Self-checkout (SCO) • New organic placements of self- service units • Enhance of
Slide 41: Smart, Secure and Sustainable Touchpoints
41 Smart, Secure and Sustainable Touchpoints Capitalize on technology replacement wave with open, modular and sustainable offering MORE MODULAR DELIVERING VALUE Enabling customizable solutions FOR CUSTOMERS MORE OPEN for different retailer needs and consumer journeys Flexibility to integrate with he
Slide 42: Software Modernization Brings Opportunity in Retail
42 Software Modernization Brings Opportunity in Retail Enable new and future consumer shopping journeys with modular, API-driven architecture VYNAMIC® FCx POS Software for Fuel and Convenience VYNAMIC® DIGITAL VYNAMIC® RECEIPT ENGAGE A digital receipt A solution for managing solution that easily and
Slide 43: DN Services Enable Efficiency and Lower Ownership Cost
43 DN Services Enable Efficiency and Lower Ownership Cost Majority of self-checkout shipments are new placements representing an opportunity for higher service assets under management Proactive Predictive Smart Remote Services Remote Services Local Services • Incident resolution through • Monitoring
Slide 44: Global Retail Automation Market Overview
44 Global Retail Automation Market Overview Focused on expanding our core self-service solutions in Europe and leading with self- service in North America to accelerate growth and win new logos RETAIL EMEA #3 21% #1 share #1 in Self-Checkout shipments 40% in Europe1 share AMERICAs #2 WORLD in the Gl
Slide 45: North American Retail Market Share Opportunity
45 North American Retail Market Share Opportunity Retailers are replacing closed legacy bundled self checkout with our open self-service solutions TOTAL SELF CHECKOUT SHIPMENTS (2023 IN 000) (1) OPPORTUNITY FOR NEW NORTH AMERICA RETAIL WINS Doubling market share in North America would 80 represents
Slide 46: Artificial Intelligence and the Evolution of Checkout
46 Artificial Intelligence and the Evolution of Checkout Augmenting self-service checkout solutions to reduce friction and minimize shrink loss – unlocking value for existing customers and creating entry point to new logos 99% Gala Apple Recognizes unpackaged fresh produce Up to Vynamic® Smart Visio
Slide 47: French Retailer Intermarche Deploys Vynamic Smart Vision
47 French Retailer Intermarche Deploys Vynamic Smart Vision “We have designed an innovation that revolutionizes self-service checkout management. It benefits everyone: customers, staff members and our retailer groups. The ability to reduce losses, make transactions more fluid and remove friction for
Slide 48: Retail Strategy Driving Growth and Margin Expansion
48 Retail Strategy Driving Growth and Margin Expansion HARDWARE SOFTWARE SERVICES Upgrade existing, large self-checkout Increase attach rate of Optimize store and electronic POS point-of-sale operations and installed base software integration increase efficiency Leverage AI, computer vision to harve
Slide 49: Break
Break
Slide 50: Continuous Improvement Journey
Frank Baur Executive Vice President, Operational Excellence Continuous Improvement Journey
Slide 51: Continuous Improvement Journey Driving Consistent Execution
51 Continuous Improvement Journey Driving Consistent Execution Results of our integrated culture of Continuous Improvement realized in safety, quality, delivery and cost with runway for additional optimization DN Accelerator builds the core of our LEAN based operating system Driving a cultural trans
Slide 52: Accelerating Our Continuous Improvement Journey
52 Accelerating Our Continuous Improvement Journey Have a plan, execute to plan, check and adjust to deviations against the plan The DN Accelerator is our LEAN operating system enabled by culture, competency and commitment to drive operational Adjust excellence and transformation.
Slide 53: Foundation for Operational Excellence and Transformation
53 Foundation for Operational Excellence and Transformation The Diebold Nixdorf approach focuses on the “3 C’s” as the foundation of our transformation Culture Competency Commitment A company culture that focuses Developing LEAN thinking knowledge and LEAN is how we run, change, on Continuous Improv
Slide 54: Deep Focus on Safety, Quality, Delivery & Cost
54 Deep Focus on Safety, Quality, Delivery & Cost Significant impact from 45 kaizens across our manufacturing, supply chain & logistics network Safety Quality Delivery Cost +30% +30% +20% ~$50M Reduction in lost Increased product Improvement in Achieved 2024 full-year employee time build quality on-
Slide 55: Journey Continues – Supply Chain Remains Paramount
55 Journey Continues – Supply Chain Remains Paramount Applying our LEAN operating system to three primary areas of manufacturing and supply chain to improve customer satisfaction, mitigate cost inflation and drive product gross margin expansion Enhance Drive Asset Unlock Value Supply Chain Resilienc
Slide 56: Expanding Focus to Service is Key Driver of Future Success
56 Expanding Focus to Service is Key Driver of Future Success Focused on KPIs that will drive higher customer satisfaction and expand service gross margin Daily Management of Deploy Tools Customer Core Service Operations to Drive Efficiency Focus • Reduce call rates • Global artificial intelligence
Slide 57: Driving Strong Early Results in Services
57 Driving Strong Early Results in Services Conducting initial Service-focused Kaizen events to strengthen operations PROBLEMS BEING ADDRESSED IMPROVEMENT ACTIONS Improved resource and material flow to increase spare parts availability 15% increase in productivity Reduction in process time across Se
Slide 58: The 3 'C's Implemented Across All Areas and Functions
58 The 3 ‘C’s Implemented Across All Areas and Functions Culture Continuous Improvement in all that we do – LEAN is in our DNA Competency Applying LEAN tools and techniques to drive accelerated impact Commitment The company has bought in to the Continuous Improvement journey and our momentum acceler
Slide 59: Financial Overview
Tom Timko Executive Vice President and Chief Financial Officer Financial Overview
Slide 60: Delivering Improved Results with Clear Roadmap Ahead
60 Delivering Improved Results with Clear Roadmap Ahead Our transformation journey is delivering strong financial improvements with opportunities to unlock additional value Growth framework supports mid-single digit revenue growth by 2027 with long-term double-digit growth in adjusted EBITDA Targeti
Slide 61: Positioning the Company for Long-Term Success
61 Positioning the Company for Long-Term Success Employing the right structure, culture and goals to drive value creation 1 Improved capital structure and maintain a fortress balance sheet 2 Embedded operational excellence and Continuous Improvement mindset 3 Driving consistent, profitable growth
Slide 62: Fortress Balance Sheet and Liquidity
62 Fortress Balance Sheet and Liquidity ~$1.7 billion market capitalization Total Liquidity Cash Balance Net Leverage(1) $55 $50 >$600M $328M 1.4x Cash & Revolving Cash & Short-Term Net Debt / TTM $45 Credit Facility Investment Adjusted EBITDA Diebold Nixdorf share price ($) $40 $35 Credit Ratings D
Slide 63: Financial Growth Framework to Deliver Long-Term Value
63 Financial Growth Framework to Deliver Long-Term Value Accelerate Expand Strengthen Disciplined Capital Revenue Growth Margins FCF Conversion Allocation • Targeting mid- • Grow higher margin • Lower interest • Maintain net leverage single digit revenue revenue streams expense Deliver at ~1.5x 1 gr
Slide 64: Our Growth Acceleration Plan – 3 Year Targets
64 Our Growth Acceleration Plan – 3 Year Targets 2024 2025E 2026E 2027E $3.75 to $3.80B $3.82 to $3.92B $3.98 to $4.08B Profitable Revenue Growth $3.75B Flat to LSD Growth LSD Growth MSD Growth $470 to $490M $500 to $530M $550 to $600M Strong Adjusted EBITDA Growth1,2 $452M MSD Growth HSD Growth Low
Slide 65: Revenue: Multiple Long-Term Profitable Growth Opportunities
65 Revenue: Multiple Long-Term Profitable Growth Opportunities Targeting MSD total revenue growth by 2027 2% to 3% Growth DRIVERS MSD Growth $XXX 2% to 3% Growth M&A • Core business in Banking and Retail grows at a 2% to 3% CAGR Retail Growth Initiatives Banking • Targeting an incremental 2% to 3% G
Slide 66: Adjusted EBITDA: Continued Growth and Margin Expansion
66 Adjusted EBITDA: Continued Growth and Margin Expansion Operational excellence + flow through of higher margin revenue drive profitability improvement ~15% Adjusted EBITDA DRIVERS DD $XXX Growth • Profitable revenue growth with mix shift towards higher value product and service OpEx Savings • Prod
Slide 67: Building Blocks to Adjusted EBITDA Improvement
67 Building Blocks to Adjusted EBITDA Improvement Multiple levers to pull over the 3-year period to strengthen profitability LEVER FOCUS AREA FOR IMPACT Incremental Margin • Banking and Retail growth initiatives based on higher-margin product and service revenues ‒ Banking: Branch Automation Solutio
Slide 68: FCF Conversion: Clear Path to 60%+ by Year-End 2027
68 FCF Conversion: Clear Path to 60%+ by Year-End 2027 Seeking to more-than-double our FCF conversion rate DRIVERS $XXX 60%+ • Debt refinancing completed in December 2024 driving $70M annual Lower Cash interest expense savings Taxes Lower • Increased net working capital efficiency Professional relat
Slide 69: Building Blocks to Free Cash Flow Improvement
69 Building Blocks to Free Cash Flow Improvement Multiple levers to pull over the 3-year period to strengthen free cash flow METRIC FOCUS AREA FOR IMPACT Interest Expense • Latest debt refinancing secured $950M of 7.75% Secured Notes and resulted in $70M annual interest expense savings • Comparable
Slide 70: Capital Allocation Framework
70 Capital Allocation Framework Accelerating growth and unlocking shareholder value – with potential to generate ~$800M of FCF from 2025 to 2027 1 2 3 4 Fortress Business Return Capital Disciplined Balance Sheet Investment to Shareholders M&A • ~1.5x Net Debt • Capital light model: • Opportunistic s
Slide 71: Returning Capital to Shareholders
71 Returning Capital to Shareholders Initiated first share repurchase program to return capital to shareholders SHARE REPURCHASE PROGRAM HIGHLIGHTS • Healthy cash balance and growing free cash flow in the near-term $100M • Program represents ~6% of current market cap Share Repurchase • Executing an
Slide 72: Disciplined Capital Allocation Approach to Inorganic Growth
72 Disciplined Capital Allocation Approach to Inorganic Growth Small, bolt-on opportunities primarily in the service area accretive to growth and margin profile Target Company Profile Key Evaluation Metrics Strengthen solutions offering Accretive to DN Add density to service footprint Strong ROIC Op
Slide 73: Under Appreciated Free Cash Flow
73 Under Appreciated Free Cash Flow Generating shareholder value via free cash flow Strengthening free cash flow conversion to 60%+ Achieving our 3-year targets would imply FCF $800M equivalent to nearly half DN’s current market cap Targeted Free Cash Flow Generation Cumulative 2025-2027 Maintaining
Slide 74: Strategic Value Creation
Octavio Marquez President and Chief Executive Officer Strategic Value Creation
Slide 75: Diebold Nixdorf Investment Thesis
75 Diebold Nixdorf Investment Thesis Delivering value creation across three key drivers Capturing Driving Increasing Secular Growth & Cash Tailwinds Profitability Generation Well positioned to We are in the initial stages We plan to deliver capitalize on growing of our LEAN journey significant and g
Slide 76: Putting DBD Valuation Potential in Perspective
76 Putting DBD Valuation Potential in Perspective We believe the market has only just begun to recognize the potential of Diebold Nixdorf 100% Strong Free 3 YR Cash Flow Generators TARGETS FCF Conversion – Last 12 Months 75% Profitable Revenue Growth MSD 50% Lower-Growth Financial Strong Adjusted EB
Slide 77: Key Messages - Positioning the Company for Long-Term Success
77 Key Messages - Positioning the Company for Long-Term Success Improving operational execution and maintaining fortress balance sheet Banking and Retail expanding TAM through tailored, compelling solutions Significant positive impact from LEAN and Continuous Improvement ~15% adjusted EBITDA margin
Slide 78: Question and Answer Session
Question and Answer Session Octavio Marquez Tom Timko Joe Myers Ilhami Cantadurucu Frank Baur President and Executive Vice President Executive Executive Executive Chief Executive Officer and Chief Financial Vice President, Vice President, Vice President, Officer Global Banking Global Retail Operatio
Slide 79: Thank You
On Diebold Nixdorf Thank You
Slide 80: Supplemental Slides
Supplemental Slides
Slide 81: Reconciliation of GAAP results to Non-GAAP results – FY24 ($M)
81 Reconciliation of GAAP results to Non-GAAP results – FY24 ($M) Notes for Non-GAAP Measures To supplement our consolidated financial statements presented in accordance with GAAP, the company utilizes certain financial measures that are not prepared in accordance with GAAP, including Non-GAAP resul
Slide 82: Reconciliation of GAAP net income to EBITDA and Adjusted EBITDA – FY24 ($M)
82 Reconciliation of GAAP net income to EBITDA and Adjusted EBITDA – FY24 ($M) The company defines EBITDA as net income (loss) excluding income tax benefit (expense), net interest expense, and depreciation and amortization expense. Adjusted EBITDA is EBITDA excluding the effects of the following ite
Slide 83: Financial Results of Segments – FY24 ($M)
83 Financial Results of Segments – FY24 ($M)
Slide 84: Reconciliation of free cash flow – FY24 ($M)
84 Reconciliation of free cash flow – FY24 ($M) Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 FY-24 Net cash provided (used) by operating activities $ 162.8 $ (23.5) $ (8.0) $ (15.5) $ 196.2 $ 149.2 Capital expenditures (6.3) (6.7) (1.7) (3.8) (5.2) (17.4) Capitalized software development (6.1) (6.2) (6.4) (5.6) (4
Slide 85: Net Debt Summary ($M) and Net Leverage
85 Net Debt Summary ($M) and Net Leverage Q4-24 Cash, cash equivalents, restricted cash and short-term investments $ 328.2 Debt instruments (966.0) Net debt (637.8) Adjusted EBITDA (trailing twelve months)* $ 452.2 Net Leverage (Adjusted EBITDA TTM / Net Debt)* 1.4 We believe that cash, cash equival