NCR Atleos Corporation Reports Strong Second Quarter Results

ATLANTA, August 05, 2026--(BUSINESS WIRE)--NCR Atleos Corporation (NYSE: NATL) ("Atleos"), a leader in expanding self-service financial access for financial institutions, retailers and consumers, today reported second quarter 2026 results. Key highlights include:

• Total revenue for the first six months of 2026 was $2.1 billion, up 3% year-over-year.

  • Total revenue of $1.1 billion in Q2, with 70% from recurring revenue streams.

• Net income attributable to Atleos for the first six months was $87 million, up an impressive 64% year-over-year; Adjusted EBITDA for the first six months was $426 million, up 14% year-over-year.

  • Net income attributable to Atleos in Q2 was $65 million, up 67% year-over-year; Adjusted EBITDA for Q2  was $254 million, up approximately 25% year-over-year.

• Self-Service Banking revenue for the first six months of 2026 increased 6% with Self-Service Banking Adjusted EBITDA growth of 9%.

  • Self-Service Banking revenue for Q2 was up 1% as we compare against record hardware volumes for the last 12-month period.

  • Self-Service Banking Adjusted EBITDA for Q2 increased 13% led by ATM as a Service ("ATMaaS"), Software, net tariff refunds, and productivity initiatives offsetting elevated memory and fuel costs.

• Network revenue was flat for the first six months of 2026 with Network Adjusted EBITDA growth of 10%.

  • Network revenue for Q2 declined 1% with lower demand in crypto transactions, offset by strong volume growth in South Africa and Australia.

  • Network Adjusted EBITDA for Q2 increased 23% year-over-year, led by positive settlement processing and lower vault cash costs.

  • Allpoint core transaction volumes remain strong with deposits reaching over one million in Q2, fueled by the expansion of one of the largest convenience retailers and a renewal with one of the largest prepaid programs in the world.

Tim Oliver, Atleos' Chief Executive Officer, said, "NCR Atleos delivered another strong quarter and a very good first half of 2026. Our service-led growth initiatives and investment in product innovation are encouraging financial institutions and retailers to choose our differentiated and comprehensive offering to meet their evolving self-service needs. In the first half, service and software business paced our growth and ATM hardware revenue was steady at historically high 2025 levels. Productivity programs that outpaced war-related pressures and tariff relief allowed profit margins to improve significantly.

"The regulatory and administrative processes required to complete our proposed transaction with The Brink's Company are progressing and we now anticipate an accelerated timeline to close early in the first quarter of 2027. At the end of June, both Brink's shareholders and NCR Atleos stockholders overwhelmingly voted to approve the transaction. This marked a significant step toward bringing together two great companies in a merger that will expand financial access, provide innovative solutions to our customers, and offer exciting opportunities to our employees," Mr. Oliver concluded.

Andy Wamser, Chief Financial Officer, added, "We have completed several important milestones in the regulatory and administrative processes required to complete our proposed transaction with The Brink's Company, and we continue to make meaningful progress toward closing. In the first half of the year, we again delivered results that met our internal plan. As we close out the year, we expect higher earnings and cash flow conversion that will allow us to further reduce our net leverage in advance of the anticipated transaction."

Key Financial Highlights

• Q2 Total Revenue of $1.10 billion, flat year-over-year; with 70% from recurring revenue streams.

• Q2 Net Income Attributable to Atleos of $65 million, an increase of 67% year-over-year.

• Q2 Adjusted EBITDA of $254 million, an increase of 25% year-over-year.

• Q2 Diluted Earnings per Share of $0.86, an increase of 65% from prior year Q2; Adjusted Diluted Earnings per Share of $1.49, an increase of 67% from prior year Q2.

• Q2 Net Cash from operating activities of $30 million, Q2 Adjusted Free Cash Flow-unrestricted of $16 million.

Second Quarter 2026 Operating Results

Revenue

Total Revenue of $1.10 billion was flat year over year for the second quarter of 2026, and included $776 million of recurring revenue, compared to $1.10 billion and $772 million, respectively, in the prior year period. Revenue from software and services (including ATMaaS) increased, offset by a reduction in hardware sales and associated installation services, and an expected reduction in other revenues as commercial agreements and commerce-related contracts with Voyix continued to wind down.

Gross Margin

Gross margin for the three months ended June 30, 2026 increased to 28.0% compared to 22.9% in the prior year period. The increase was driven by net tariff refunds, favorable product mix in software and services, productivity initiatives, and positive settlement processing and lower vault cash costs in the transaction business, offset by an increase in other costs, including fuel and memory chips. Adjusted gross margin increased from 24.9% to 30.2%.

Net Income and Net Income Margin

Net income attributable to Atleos for the second quarter of 2026 increased 67% to $65 million, or 6% of revenue, compared to $39 million, or 4% of revenue in the prior year period.

Other Results

Net cash from operating activities for the second quarter was $30 million. Adjusted free cash flow-unrestricted was $16 million.

Pending Transaction with The Brink's Company

In light of the pending transaction with The Brink's Company (Brink's), Atleos will not be hosting an earnings conference call to review second quarter results or providing a financial outlook.

References to Atleos' website and/or other social media sites or platforms in this release do not incorporate by reference the information on such websites, social media sites, or platforms, and Atleos disclaims any such incorporation by reference.

About Atleos

Atleos (NYSE: NATL) is a leader in expanding self-service financial access, with industry-leading ATM expertise and experience, unrivaled operational scale including the largest independently-owned ATM network, always-on global services and constant innovation. Atleos improves operational efficiency for financial institutions, drives footfall for retailers and enables digital-first financial self-service experiences for consumers. Atleos is ranked #12 in Newsweek's prestigious 2025 Top 100 Global Most Loved Workplaces® list. Atleos is headquartered in Atlanta, Ga., with approximately 20,000 employees globally. For more information, visit www.ncratleos.com.

Forward-Looking Statements

This release 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 (the "Exchange Act"), pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements use words such as "expect," "anticipate," "outlook," "intend," "plan," "confident," "believe," "will," "should," "would," "potential," "positioning," "proposed," "planned," "objective," "likely," "could," "may," and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to Atleos' plans, goals, intentions, strategies, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Examples of forward-looking statements in this release including, but not limited to, statements regarding: Atleos' proposed transaction with Brink's, revenue acceleration in ATMaaS business, the expansion of our global self-service banking platform, recurring revenue opportunities, statements regarding Atleos' performance, and impact from tariffs constitute "forward-looking statements" as defined in the Act. Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's present expectations. These risks and uncertainties include, but are not limited to, strategy and technology transforming our business model, our ability to integrate acquisitions and manage alliance activities, domestic and global economic and credit conditions, ability to properly assess expenses related to tariffs and other expenses, key employee retention and ability to attract talented employees, our relationships with third parties and any failures of our third-party suppliers, our level of indebtedness and our cash flow sufficiency to service our indebtedness, interest rate risks, terms governing our trade receivables liabilities, allegations or claims by third parties that our products and services infringe on intellectual property rights of others, our separation from NCR Corporation, the impact of, and our ability to remediate, any future material weaknesses in our internal control over financial reporting and the perceived reliability of Atleos' financial statements if Atleos is unable to satisfy requirements of Section 404 of the Sarbanes Oxley Act, the failure of NCR Voyix Corporation ("Voyix") to perform under various transactions agreements, Atleos' obligation to indemnify Voyix pursuant to the agreements entered into in connection with the spin-off (including with respect to material taxes), the risk that Voyix may not fulfill any obligations to indemnify Atleos under such agreements, currency movements and other risks of conducting business internationally and the impact of regulatory and litigation matters, the incurrence of significant costs related to the mergers with Brink's (the "Transactions"); Brink's ability to consummate the Transactions; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; Brink's ability to finance the Transactions; the failure to obtain applicable regulatory approvals in a timely manner or otherwise; the failure to satisfy any other conditions to closing of the Transactions; failure to realize the anticipated benefits and synergies of the Transactions in the expected timeframe or at all, including as a result of a delay in consummating the Transactions; the focus of management's time and attention on the Transactions and other potential disruptions arising from the Transactions; the effects of the announcement of the Transactions on Atleos' business; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with banks, employees, customers or suppliers) may be greater than expected following the public announcement of the Transactions; the potential for litigation related to the Transactions; and Brink's or Atleos' ability to obtain certain third party or governmental regulatory consents, approvals or clearances.

Additional information concerning these and other factors can be found in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 10-K, quarterly reports on Form 10-Q and other filed proxy statements and reports. Any forward-looking statement speaks only as of the date on which it is made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements.