Ncr Voyix Corporation · NYSE:VYX
Ncr Voyix — Q4 2024 Earnings Presentation
25 slides from Ncr Voyix's earnings presentation, Feb 27, 2025
Slide 1: Q4 2024 Earnings Report
Q4 2024 Earnings Report February 27, 2025 NYSE:VYX 1
Slide 2: Notes to Investors
Notes to Investors SPIN-OFF INFORMATION. On October 16, 2023, NCR Voyix completed the spin-off of NCR Atleos Corporation (“NCR Atleos”) as an independent, publicly traded company. The historical financial results of NCR Atleos are reflected as discontinued operations in NCR Voyix’s consolidated fina
Slide 3: Notes to Investors
Notes to Investors NON-GAAP MEASURES. While the Company reports its results in accordance with generally accepted accounting principles in the United States, or GAAP, comments made during this presentation and in the associated remarks will include or make reference to certain “non-GAAP” measures, i
Slide 4: Notes to Investors
Notes to Investors GUIDANCE AND PRO FORMA INFORMATION. The Company’s 2025 outlook assumes hardware recognition for the full-year 2025. Upon fully implementing the hardware ODM agreement with Ennoconn later this year, the Company will update its 2025 outlook to reflect net hardware commission revenue
Slide 5: Notes to Investors
Notes to Investors FORWARD-LOOKING STATEMENTS. This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”). Statements can generally be identified as forward-looking because they include words such as “expect,” “target,
Slide 6: Q4 2024 Results
Q4 2024 Results +26% platform sites +8% payment sites +5% ARR 240+ new customers $ in Millions except EPS Revenue Recurring vs. Non-Recurring Revenue $266 $161 $395 $262 $271 $270 +5% $259 $251 $401 $420 Recurring 4Q23 4Q24 4Q23 4Q24 Software Services Hardware Recurring Non-Recurring Adjusted EBITDA
Slide 7: 2024 Results
2024 Results +26% platform sites +8% payment sites +5% ARR 1,000+ new customers $ in Millions except EPS Revenue Recurring vs. Non-Recurring Revenue $1,063 $771 $1,561 $1,192 $1,081 $1,067 +1% Recurring $1,034 $988 $1,617 $1,634 2023 2024 2023 2024 Software Services Hardware Recurring Non-Recurring
Slide 8: Q4 2024 - Restaurants
Q4 2024 - Restaurants +6% platform sites +8% payment sites +4% ARR 200+ new customers $ in Millions Revenue Recurring vs. Non- Adjusted EBITDA (Margin %) Recurring Revenue 32.2% $65 $48 22.4% $70 $72 +3% $87 $71 +36% +3% $68 Software & Recurring $50 Adj. EBITDA $88 $91 Services $136 $140 4Q23 4Q24 4
Slide 9: Q4 2024 - Retail
Q4 2024 - Retail +46% platform sites +6% ARR 35+ new customers $ in Millions Revenue Recurring vs. Non- Adjusted EBITDA (Margin %) Recurring Revenue 22.1% 16.5% $198 $113 +1% $287 $186 $193 Software & $191 +5% $90 $102 +13% Recurring 22.1% Adj. EBITDA Services 16.5% $160 $155 $257 $270 4Q23 4Q24 4Q2
Slide 10: Cash and Debt Information
Cash and Debt Information $ in Millions Leverage and Cash Flow 12/31/2024 Debt Term Structure Capital Allocation Priorities Weighted Avg Rate: 5.06% Total Debt $1,105 Fixed Rate Debt: 100% Avg Maturity: 4.1 years • Leverage ratio at or below 2.0x 1 Available Cash (424) $750 $650 Adjusted Net Debt $6
Slide 11: FY2025 Performance Outlook
1 FY2025 Performance Outlook $ in millions FY2025 Guidance Total Revenue $2,575 - $2,650 Software and Services Revenue $1,995 - $2,020 Hardware Revenue $580 - $630 Adjusted EBITDA $420 - $445 Margin (%) 16.3% - 16.8% 2 Non-GAAP Diluted EPS $0.75 - $0.80 3 Adjusted Free Cash Flow-unrestricted $170 -
Slide 12: Appendix
Appendix NYSE:VYX 12
Slide 13: Non-GAAP Measures
Non-GAAP Measures While NCR Voyix reports its results in accordance with generally accepted accounting principles (GAAP) in the United States, comments made during this conference call and in these materials will include non-GAAP measures. These measures are included to provide additional useful inf
Slide 14: Non-GAAP Measures
Non-GAAP Measures Adjusted Free Cash Flow-Unrestricted: NCR Voyix management uses the non-GAAP measure called “adjusted free cash flow-unrestricted” to assess the financial performance of the Company. We define adjusted free cash flow-unrestricted as net cash provided by (used in) operating activiti
Slide 15: Non-GAAP Measures
Non-GAAP Measures Pro Forma Financial Measures: In this presentation, we present supplemental full year 2024 financial information on a pro forma basis to give effect to the divestiture of the Digital Banking business and the application of the proceeds from the sale to pay down outstanding indebted
Slide 16: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Normalized Revenue Normalized Software & Services Revenue: Normalized for comparisons for all divestitures and delayed transfers to NCR Atleos $ in millions Q4 2024 Q4 2023 FY 2024 FY 2023 Reported Revenue $682 $796 $2,826 $3,178 (1) Less: Divestitures —
Slide 17: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Normalized Revenue by Segment $ in millions Q4 2024 Q4 2023 FY 2024 FY 2023 Retail (as reported and normalized) $461 $544 $1,956 $2,177 Restaurants (as reported) $211 $223 $825 $886 (1) Less: Divestitures — (2) — (10) Restaurants (normalized) $211 $221 $
Slide 18: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Segment Adjusted EBITDA Normalized Adjusted EBITDA $ in millions Q4 2024 Q4 2023 FY 2024 FY 2023 Retail Adjusted EBITDA (As Reported) $ 102 $ 90 $ 383 $ 411 Restaurants Adjusted EBITDA (As Reported) $ 68 $ 50 $ 251 $ 197 Other Adjusted EBITDA (As Reporte
Slide 19: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Adjusted Free Cash Flow-Unrestricted $ in millions Q4 2024 FY 2024 Net cash provided by (used in) operating activities (GAAP) $ (170) $ (132) Expenditures for property, plant and equipment (7) (30) Additions to capitalized software (32) (187) Restricted
Slide 20: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Adjusted EBITDA Normalized Adjusted EBITDA $ in millions Q4 2024 Q4 2023 FY 2024 FY 2023 Net Income (Loss) from Continuing Operations Attributable to NCR Voyix (GAAP) $ (9) $ (272) $ (202) $ (729) Depreciation and amortization (excluding acquisition-rela
Slide 21: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Adjusted EBITDA Margin $ in millions Q4 2024 Q4 2023 FY 2024 FY 2023 Income (loss) from continuing operations (attributable to NCR Voyix) $ (9) $ (272) $ (202) $ (729) Adjusted EBITDA (Non-GAAP) $ 114 $ 65 $ 347 $ 337 Revenue (GAAP) $ 682 $ 796 $ 2,826 $
Slide 22: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Q4 2024 FY 2024 2 2 $ in millions (except EPS) Q4 2024 Non-GAAP FY 2024 Non-GAAP Income (loss) from continuing operations attributable to NCR Voyix common stockholders Income (loss) from continuing operations (attributable to NCR Voyix) $ (9) $ 36 $ (202
Slide 23: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Income (loss) from continuing operations (attributable to NCR Voyix) $ in millions Q4 2024 FY 2024 Income (loss) from continuing operations (attributable to NCR Voyix) $ (9) $ (202) Transformation and restructuring costs 24 100 Fraudulent ACH disbursemen
Slide 24: Reconciliation of GAAP to Non-GAAP Financials
Reconciliation of GAAP to Non-GAAP Financials Adjusted Net Debt $ in millions December 31, 2024 Total Debt $ 1,105 Available Cash Cash and cash equivalents $724 Estimated cash taxes to be paid for Digital Banking Sale (300) Available Cash $424 Adjusted Net Debt $681 N Y S E : V Y X 24
Slide 25: Reconciliation of Pro Forma Adjusted EBITDA
Reconciliation of Pro Forma Adjusted EBITDA 1 Pro Forma 2024 Adjusted EBITDA $ in Millions $ in millions FY 2024 Adj. EBITDA $347 NCR Atleos delayed country transfers 2 Estimated costs historically allocated to Digital Banking 14 Normalized Adj. EBITDA $363 Hardware ODM (14) Run-rate savings: Payrol