Ncr Atleos Corporation · NYSE:NATL
Ncr Atleos — Investor Presentation (September 2025)
27 slides from Ncr Atleos's investor presentation, Sep 3, 2025
Slide 1: Expanding Self-Service Financial Access
EXPANDING SELF-SERVICE FINANCIAL ACCESS SEPTEMBER 3, 2025 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigat
Slide 3: Notes to Investors
Notes to Investors NON-GAAP MEASURES. While Atleos reports its results in accordance with Generally Accepted Accounting Principles in the United States, or GAAP, comments made during this conference call and in these materials will include or make reference to certain “non-GAAP” measures, including,
Slide 4: Investment Thesis
2 Investment Thesis 1 World’s most comprehensive and scalable solutions offering 2 Leading global installed base and industry-best service delivery Banks and retailers accelerating their outsourcing of physical transactions and 3 cash management Building a track record of transparency and consistent
Slide 5: Industry Leading Self-Service Banking Solutions Platform
2 Industry Leading Self-Service Banking Solutions Platform #1 Cross-sell Leading Installed Base of #1 Drive Network Solutions Add new ATMaaS and adoption Largest Independent 500K+ banking of incremental partners to Managed outsourcing Network ATM Network Self Service Services ATMs Provider ARPU Enha
Slide 6: Financial Snapshot
Financial Snapshot Full Year 2024 $ 242M $ 3.1B $ 795M $ 4.3B Revenue Free Cash Flow* Recurring Revenue Adj. EBITDA* Americas (excluding U.S.) Services 12% Software APAC 38% 12% 12% United States Revenue 45% Revenue by Geography by Type Hardware 18% 31% EMEA 3% 29% Other Network Transactions Growing
Slide 7: Solid Underlying Market
Reliance on Cash Continues Stable Base of ATM Devices Favorable Market Position ATM Cash Withdrawal Total Value ($B)1 Global ATM Installed Base (000s)2 Drive More Services Revenue Per Device 14,146 1,936 1,925 14,004 1,920 1,916 1,914 1,911 13,824 13,785 13,566 13,432 Atleos 36% Solid Diebold 35% Un
Slide 8: Self-Service Banking Business
Self-Service Banking Business 2024 $2.7B revenue, $0.6B Adj. EBITDA*, 24% Adj. EBITDA Margin* • Best-in-class global service footprint that ensures • Solid organic revenue growth over time efficient maintenance and dependability • Strong and increasing profitability and cash flow generation • Suppor
Slide 9: Self-Service Banking Growth Initiatives
2 Self-Service Banking Growth Initiatives Capturing additional services as banks continue to outsource ATM as a Service Transaction Processing Security Cash Operations Operations Cash Management Management Management Service & Software Anti-virus Back Management Currency Office Forecasting Incident
Slide 10: Network Business
Network Business 2024 $1.3B revenue, $0.4B Adj. EBITDA, 31% Adj. EBITDA Margin ~80,000 ATMs Drive Durable Recurring Revenue Located in Blue Chip Retail Partners • Only ATM OEM that owns and operates an estate of ATMs at scale • Operating in 13 countries • ~1,200 financial institutions in the Allpoin
Slide 11: Network Growth Initiatives
Network Growth Initiatives Four paths to drive profitable growth Add New Financial Migrate More Branch Expand Transaction Enter New Institutions to the Network Activities to the Network Sets Markets Drive greater adoption of utility Boost volumes on existing units Increase the number of banking serv
Slide 12: ATM Network Benefits All Stakeholders
ATM Network Benefits All Stakeholders Consumer Convenience Drives more store traffic, moves traffic away from branch Account providers Retailers Banks, fintech, prepaid, Platform and more Provides presence, driving loyalty and growth for banks More account Consumer Loyalty Programs High value provid
Slide 13: Significant Runway For Strong Long-Term Profit and Cash Flow Growth
2 Significant Runway For Strong Long-Term Profit and Cash Flow Growth Executing our long-term objectives should drive exceptional profit and free cash flow growth, while a large addressable market opportunity for outsourced services remains 2024 ATM Services Installed Base 3-5 Year Projected ATM Ser
Slide 14: Q2 results at high-end or exceeded
Consolidated Consolidated Adjusted Non-GAAP Revenue/Recurring EBITDA & Margin Diluted EPS +4% y/y Core +4% y/y +9% y/y +6% y/y Core $1,080 $1,108 $1,104 $1,078 $229 $1.19 $979 $209 $205 $1,094 $197 $1,049 $1,055 $1,081 $172 $0.90 $0.93 $965 $0.85 Q2 results at $0.64 high-end or 70% 74% 74% 72% 76% 7
Slide 15: 2025 Full Year Outlook
2025 Full Year Outlook $ in millions, except percentages and per share amounts FY 2025 Targets 2025 Initial Guidance 2024 Base(3) 3% to 6% growth constant currency Core Revenue (excludes Voyix) $4,175 (est. FX impact -2%) 1% to 3% growth constant currency Total Revenue (est. FX impact -2%) $4,317 -
Slide 16: Leverage and Capital Allocation
Reduce Leverage to Long-Term Target Capital Allocation 3,500 4.0x 3,000 Near-Term Priorities 3.0x 2,500 Significant I. Pay down debt to reduce leverage ratio / interest expense $’s millions Leverage 2,000 Opportunity to 2.0x II. Opportunistic share 1,500 repurchases Create Value 1,000 1.0x III. Rein
Slide 17: Capital Structure
Capital Structure Borrowings Balance as of Q2’25 Base Index Spread/Coupon Maturity Revolving Credit Facility $240M TSFR+ 275 bps 10/16/2028 Term Loan A - 1 741M TSFR+ 275 bps 10/16/2028 Term Loan A - 2 293M TFSR+ 275 bps 10/16/2028 Term Loan B 320M TFSR+ 375 bps 4/16/2029 9.5% Senior Notes due 2029
Slide 18: Supplementary Materials
@ ATLEOS SUPPLEMENTARY MATERIALS
Slide 19: Certain Terms & Key Performance Indicators (KPIs)
Certain Terms & Key Performance Indicators (KPIs) Recurring revenue - all revenue streams from contracts where there is a predictable revenue pattern that will occur at regular intervals with a relatively high degree of certainty. This includes hardware and software maintenance revenue, processing r
Slide 20: Non-GAAP Measures
Non-GAAP Measures While Atleos reports its results in accordance with Generally Accepted Accounting Principles in the United States, or GAAP, comments made during this conference call and in these materials will include non-GAAP measures. Atleos’ definitions and calculations of these non-GAAP measur
Slide 21: Non-GAAP Measures
Non-GAAP Measures Net Debt is based on Atleos' total debt less cash and cash equivalents, with total debt being defined as total short-term borrowings plus total long-term debt as presented on the face of the Condensed Consolidated Balance Sheets. Atleos believes that Net Debt provides useful inform
Slide 22: FY 2024 GAAP to Non-GAAP Reconciliation
FY 2024 GAAP to Non-GAAP Reconciliation $ in millions FY 2024 % of Revenue Net Income Attributable to Atleos (GAAP) $93 2.2% Interest Expense 309 7.2% Interest Income (7) (0.2)% Income Taxes 47 1.1% Depreciation and amortization 176 4.1% Acquisition-related amortization of intangibles 95 2.2% Stock-
Slide 23: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation $ in millions Q2 2025 % of Q1 2025 % of % of Q3 % of % of Revenue Revenue Q4 2024 Revenue 2024 Revenue Q2 2024 Revenue Net Income Attributable to Atleos $45 4.1% $15 1.5% $48 4.3% $22 2.0% $30 2.8% (GAAP) Interest Expense 69 6.3% 67 6.9% 72 6.5% 79 7.3% 79 7.2% Intere
Slide 24: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation FY 2024(1) GAAP Diluted Earnings per Share $1.23 Plus: Special Items Transformation and restructuring costs 0.27 Stock-based compensation expense 0.47 Acquisition-related amortization of intangibles 0.99 Acquisition-related costs (0.05) Separation costs 0.21 Voyix env
Slide 25: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Q2 2025(1) Q1 2025(1) Q4 2024(1) Q3 2024(1) Q2 2024(1) GAAP Diluted Earnings per Share $0.60 $0.20 $0.64 $0.30 $0.41 Plus: Special Items Transformation and restructuring costs (0.12) 0.01 0.09 0.09 0.07 Stock-based compensation expense 0.09 0.12 0.13 0.11 0.11 Acquisi
Slide 26: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation $ in millions FY 2024 Cash provided by operating activities $344 Total capital expenditures $(126) Restricted cash settlement activity $21 Pension contributions $3 Adjusted Free Cash Flow-Unrestricted $242
Slide 27: Atleos
@ ATLEOS