Diebold Nixdorf Incorporated · NYSE:DBD
Diebold Nixdorf — Q4 2025 Earnings Presentation
28 slides from Diebold Nixdorf's earnings presentation, Feb 12, 2026
Slide 1: Fourth Quarter and Full-year 2025 Earnings
Fourth Quarter and Full-year 2025 Earnings Performance Summary Update – February 12, 2026
Slide 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 events and are not guarantees of f
Slide 3: Use of Non-GAAP Financial Information
To supplement our 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, adjusted diluted earnings per share, free cash flow (u
Slide 4: Key 2025 Highlights
Key 2025 Highlights 1 Revenue up 1.5% to $3.81B, adjusted EBITDA1 up 7% to $485M, FCF1 more than doubled to record $239M 2 Banking: Branch Automation Solutions, Teller Cash Recycler and Fit-for-purpose wins 3 Retail: Three quarters of sequential revenue growth; won 9 new logos in U.S. 4 Record five
Slide 5: Strong Year-over-Year Progress
Strong Year-over-Year Progress Diebold Nixdorf delivered YoY improvements across key metrics; company is well positioned entering 2026 Adjusted EBITDA ($M) / Adjusted Earnings Order Entry Total Revenue ($M) Free Cash Flow ($M)(1) Adjusted EBITDA Margin(1) per Share(1,2) +17% +1.5% +7.2% +120% +182%
Slide 6: Growth Engines Gaining Traction
Growth Engines Gaining Traction BANKING RETAIL SERVICE OPERATIONS KEY INITIATIVES KEY INITIATIVES KEY INITIATIVES KEY INITIATIVES - Branch Automation - AI-driven solutions - Increasing density - Improve working capital Solutions (BAS) - North America expansion - Driving efficiency - Optimize where w
Slide 7: Lean Driving Structural Margin and Cash Flow Improvement
Lean Driving Structural Margin and Cash Flow Improvement Global DN Manufacturing Warsaw, Poland Recognition for DN International intercompany Dynamic Kanban in Drove invoice processing time down by 17%, Diebold Nixdorf recognized for strong supply place improving collection efficiency chain, ethics
Slide 8: Five Quarter Financial Trends
Five Quarter Financial Trends Delivering revenue growth and margin expansion, $50M OpEx run rate cost savings program on track Operating Expense ($M)(1,2) / Total Revenue ($M) Total Gross Margin (%)(1) Operating Expense % of Revenue(1,2) Service Product $1,104 $989 $945 27.1% $915 26.5% 26.2% $166 $
Slide 9: Five Quarter Financial Trends
Five Quarter Financial Trends Record Q4 2025 adjusted EBITDA, record FY 2025 adjusted EPS and record FY 2025 free cash flow Adjusted EBITDA ($M) / $164 Adjusted Earnings per Share(1,2) Free Cash Flow ($M)(1) Adjusted EBITDA Margin(1) $3.02 $122 $186 $196 $112 $111 $87 $1.39 $0.94 $0.78 11.4% 10.4% 1
Slide 10: Banking
Banking Solid Product and Service revenue growth in FY 2025, expect Branch Automation Solutions and Fit-for-purpose to accelerate in FY 2026 Revenue ($M) Gross Profit ($M) / Gross Margin (%)(1) Service Product Seq. as Reported $798 +15.6% $716 $679 $690 $629 $224 $381 +32.2% $171 $317 $272 $288 $187
Slide 11: Retail
Retail Strong sequential growth through FY 2025 in Retail, expect YoY revenue and gross profit growth on a quarterly basis in FY 2026 Revenue ($M) Gross Profit ($M) / Gross Margin (%)(1) Service Product Seq. as Reported $306 $273 +20.1% $255 $236 $76 $212 $150 $128 +32.6% $66 $63 $101 $113 $56 $85 $
Slide 12: 2026 Guidance
2026 Guidance 2026 financial outlook higher than previous targets provided at 2025 Investor Day(3) Metrics FY26 Outlook Key Details Total $3.86B - $3.94B • Banking and Retail up low-single digits YoY Revenue Prior Target(3) • Revenue weighted towards back-half of year with a ~45% 1H / ~55% 2H split
Slide 13: Benefiting from Fortress Balance Sheet
Benefiting from Fortress Balance Sheet Targeting $800M of FCF generation cumulatively from 2025 through 2027, strong liquidity position of >$700M Share Repurchase Free Cash Flow Credit Ratings Authorization Conversion(3) B+ / B1 $28M / $172M 49% S&P / Moody’s Repurchased / Remaining More than Double
Slide 14: Positioned for Value Creation
Positioned for Value Creation Diebold Nixdorf delivered on our commitments in 2025; enter 2026 with a strong foundation to fuel profitable 1 growth Built momentum in Banking with solutions that drive value across the portfolio: Branch Automation 2 Solutions, Teller Cash Recyclers, Fit-for-purpose AT
Slide 15: Questions and Answer Session
Questions and Answer Session Octavio Marquez Tom Timko President & Executive Vice President Chief Executive Officer & Chief Financial Officer
Slide 16: Supplemental Slides
Supplemental Slides 16 | DIEBOLD NIXDORF
Slide 17: Reconciliation of GAAP results to Non-GAAP results – Q4-25 ($M)
Reconciliation of GAAP results to Non-GAAP results – Q4-25 ($M) Notes for Non-GAAP Measures To supplement our condensed consolidated financial statements presented in accordance with GAAP, the company utilizes certain financial measures that are not prepared in accordance with GAAP, including Non-GA
Slide 18: Reconciliation of GAAP results to Non-GAAP results – Q3-25 & Q2-25 ($M)
Reconciliation of GAAP results to Non-GAAP results – Q3-25 & Q2-25 ($M) Notes for Non-GAAP Measures To supplement our condensed consolidated financial statements presented in accordance with GAAP, the company utilizes certain financial measures that are not prepared in accordance with GAAP, includin
Slide 19: Reconciliation of GAAP results to Non-GAAP results – Q1-25 & Q4-24 ($M)
Reconciliation of GAAP results to Non-GAAP results – Q1-25 & Q4-24 ($M) Notes for Non-GAAP Measures To supplement our condensed consolidated financial statements presented in accordance with GAAP, the company utilizes certain financial measures that are not prepared in accordance with GAAP, includin
Slide 20: Reconciliation of GAAP results to Non-GAAP results – FY-24 & FY-25 ($M)
Reconciliation of GAAP results to Non-GAAP results – FY-24 & FY-25 ($M) Notes for Non-GAAP Measures To supplement our condensed consolidated financial statements presented in accordance with GAAP, the company utilizes certain financial measures that are not prepared in accordance with GAAP, includin
Slide 21: Reconciliation of earnings per share - Quarter Trend ($M)
Reconciliation of earnings per share - Quarter Trend ($M) Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 ($ in millions, except per share data) Net income (loss) $ 6.4 0.17 $ (14.5) (0.39) $ (7.5) (0.20) $ 12.7 0.34 $ 41.7 1.13 $ 50.5 1.39 $ 97.5 2.62 Net income attributable to noncontrolli
Slide 22: Reconciliation of free cash flow - Quarter Trend ($M)
Reconciliation of free cash flow - Quarter Trend ($M) Q4-24 FY-24 Q1-25 Q2-25 Q3-25 Q4-25 FY-25 Net cash provided (used) by operating activities $ 196.2 $ 149.2 $ 15.7 $ 30.0 $ 37.4 $ 217.6 $ 300.7 Capital expenditures (5.2) (17.4) (7.9) (8.0) (6.7) (14.8) (37.4) Capitalized software development (4.
Slide 23: Reconciliation of free cash flow conversion – FY-24 & FY-25
Reconciliation of free cash flow conversion – FY-24 & FY-25 FY-24 FY-25 Net cash provided (used) by operating activities $ 149.2 $ 300.7 Capital expenditures (17.4) (37.4) Capitalized software development (23.0) (24.3) Free cash flow (non-GAAP measure) 108.8 239.0 Adjusted EBITDA $ 452.2 $ 484.8 Fre
Slide 24: Reconciliation of operating expense as a % of revenue- Quarter Trend (%)
Reconciliation of operating expense as a % of revenue- Quarter Trend (%) Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Operating expenses (GAAP) $ 190.4 $ 172.8 $ 177.8 $ 171.3 $ 197.4 Restructuring and transformation expenses $ (24.0) $ (9.2) $ (7.6) $ (9.8) $ (25.5) Non-routine (income) expense, net $ (0.8) $ 1.7
Slide 25: Reconciliation of GAAP net income to EBITDA and Adjusted EBITDA – TTM Trend ($M)
Reconciliation of GAAP net income to EBITDA and Adjusted EBITDA – TTM Trend ($M) Trailing Twelve Month (TTM) Quarter End Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net loss $ (14.5) $ (8.0) $ (10.1) $ 53.3 $ 97.5 Income tax expense (benefit) 64.3 65.2 38.0 17.7 24.1 Interest income (12.3) (9.6) (9.1) (8.3) (8.9)
Slide 26: Financial Results of Segments – Quarter Trend ($M)
Financial Results of Segments – Quarter Trend ($M) Gross Margin by Segment - Unaudited Three months ended Twelve months ended Three months ended Three months ended Three months ended Three months ended Twelve months ended ($ in millions) December 31, 2024 December 31, 2024 March 31, 2025 June 30, 20
Slide 27: Reconciliation of GAAP net income to Adjusted EBITDA – Quarter Trend ($M)
Reconciliation of GAAP net income to Adjusted EBITDA – Quarter Trend ($M) Q4-24 FY-24 Q1-25 Q2-25 Q3-25 Q4-25 FY-25 Net loss $ 6.4 $ (14.5) $ (7.5) $ 12.7 $ 41.7 $ 50.5 $ 97.5 Income tax expense (benefit) 5.5 64.3 (2.2) 4.8 9.6 11.9 24.1 Interest income (2.2) (12.3) (1.5) (2.5) (2.1) (2.8) (8.9) Int
Slide 28: Net Debt Summary ($M) and Net Leverage – Quarter Trend
Net Debt Summary ($M) and Net Leverage – Quarter Trend * * Quarter Ended Q1-25 Q2-25 Q3-25 Q4-25 Cash, cash equivalents, restricted cash and short-term investments $328.3 $310.4 $280.0 $416.4 Debt instruments (966.0) (966.5) (967.8) (970.7) Net debt (637.7) (656.1) (687.8) (554.3) Adjusted EBITDA (t