https:\/\/investor.ncrvoyix.com<\/a><\/span>. Participants may access the live call by dialing (800) 715-9871 (United States\/Canada Toll-free) or +1 (646) 307-1963 (International Toll) and requesting to be connected to the conference call. A replay of the audio webcast will be archived on the Company\u2019s website following the live event.<\/p>\nAbout NCR Voyix<\/b><\/p>\n
\nNCR Voyix Corporation (NYSE: VYX) is a global platform-powered leader in unified commerce for shopping and dining. Combining a flexible, intelligent platform with end-to-end payments capabilities and services developed through its deep industry experience, NCR Voyix empowers retailers and restaurants to accelerate new possibilities for their operations, experiences and business outcomes. NCR Voyix is headquartered in Atlanta, Georgia, and serves customers in more than 35 countries worldwide. For more information, visit ncrvoyix.com.<\/p>\n
Non-GAAP Financial Measures<\/b><\/p>\n
Non-GAAP Financial Measures. <\/i>While the Company reports its results in accordance with Generally Accepted Accounting Principles in the United States, or GAAP, in this release the Company also uses the non-GAAP measures listed and described below. The Company\u2019s definitions and calculations of these non-GAAP measures may differ from similarly-titled measures reported by other companies and cannot, therefore, be compared with similarly-titled measures of other companies. These non-GAAP measures should not be considered as substitutes for, or superior to, results determined in accordance with GAAP, and the Company encourages investors to review the non-GAAP information presented herein in conjunction with, and as a supplement to, the presentation of GAAP financial measures. Each potential adjustment noted below may not occur in each period presented but are included within the definitions as examples of potential future adjustments.<\/p>\n
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) and Adjusted EBITDA margin.<\/i> Adjusted EBITDA is defined as GAAP net income (loss) from continuing operations attributable to NCR Voyix plus interest expense, net; plus income tax expense (benefit); plus depreciation and amortization (excluding acquisition-related amortization of intangibles); plus stock-based compensation expense; plus pension mark-to-market adjustments and other special items, including amortization of acquisition-related intangibles, acquisition-related costs, loss (gain) on disposal of businesses, loss (gain) on extinguishment of debt, separation-related costs, cyber ransomware incident recovery costs net of insurance recoveries, fraudulent ACH disbursements costs net of recoveries, foreign currency devaluation, transformation and restructuring charges (which includes integration, severance and other exit and disposal costs), strategic initiative costs and litigation costs, among others. The Company also uses Adjusted EBITDA margin, which is calculated based on Adjusted EBITDA as a percentage of total revenue. The Company uses Adjusted EBITDA and Adjusted EBITDA margin to evaluate and measure the ongoing performance of its business segments. The Company also uses Adjusted EBITDA and Adjusted EBITDA margin to manage and determine the effectiveness of its business managers and as a basis for incentive compensation. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors because they are indicators of the strength and performance of the Company\u2019s ongoing business operations, including its ability to fund discretionary spending such as capital expenditures, strategic acquisitions and other investments. Adjusted EBITDA and Adjusted EBITDA margin should not be considered as substitutes for, or superior to, net income from continuing operations attributable to NCR Voyix or net profit margin, respectively, under GAAP.<\/p>\n
Non-GAAP Diluted Earnings Per Share (EPS) and Non-GAAP income (loss) from continuing operations (attributable to NCR Voyix)<\/i>. The Company determines Non-GAAP Diluted EPS and Non-GAAP income (loss) from continuing operations (attributable to NCR Voyix) by excluding, as applicable, pension mark-to-market adjustments, pension settlements, pension curtailments and pension special termination benefits, as well as other special items, including loss (gain) on debt extinguishment, amortization of acquisition related intangibles, stock-based compensation expense, separation-related costs, cyber ransomware incident recovery costs net of recoveries, fraudulent ACH disbursements costs net of recoveries, strategic initiative costs, foreign currency devaluation costs, gains or losses related to the disposal of businesses, litigation costs, legal entity restructuring tax benefit and transformation and restructuring costs, from the Company\u2019s GAAP earnings per share and income (loss) from continuing operations (attributable to NCR Voyix), respectively. Due to the non-operational nature of these pension and other special items, the Company\u2019s management uses these non-GAAP measures to evaluate year-over-year operating performance. In addition, non-GAAP tax effects are calculated using an annual forecasted non-GAAP tax rate that excludes the impact of non-GAAP adjustments, with discrete tax impacts added separately for the period. The Company believes this measure is useful for investors because it provides a more complete understanding of the Company\u2019s underlying operational performance, as well as consistency and comparability with the Company\u2019s past reports of financial results.<\/p>\n
Adjusted free cash flow-unrestricted before restructuring costs. <\/i>NCR Voyix management uses the non-GAAP measure called \u201cadjusted free cash flow-unrestricted before restructuring costs\u201d to assess the financial performance of the Company. We define adjusted free cash flow-unrestricted as net cash provided by (used in) operating activities less capital expenditures for property, plant and equipment and capitalized software, plus\/minus collections of previously sold trade receivables purchased from third parties, restricted cash settlement activity, cash activity related to environmental discontinued operations, collections on non-operating receivables related to inventory sold for the Hardware Business Transition, plus acquisition-related items, and pension contributions and settlements, less restructuring, transformation and strategic initiative costs, and expected payments related to certain legal matters (net of recoveries from NCR Atleos).<\/p>\n
\nWe believe adjusted free cash flow-unrestricted before restructuring costs provides useful information to investors because it relates the operating cash flows from the Company\u2019s continuing and discontinued operations to the capital that is spent to continue and improve business operations. In particular, adjusted free cash flow-unrestricted before restructuring costs indicates the amount of cash available after capital expenditures for, among other things, investments in the Company\u2019s existing businesses, strategic acquisitions, and repayment of debt obligations. Adjusted free cash flow-unrestricted before restructuring costs does not represent the residual cash flow available for discretionary expenditures, since there may be other non-discretionary expenditures that are not deducted from the measure. Adjusted free cash flow-unrestricted before restructuring costs does not have a uniform definition under GAAP, and therefore the Company\u2019s definitions may differ from other companies\u2019 definitions of these measures. This non-GAAP measures should not be considered a substitute for, or superior to, cash flows from operating activities under GAAP or other GAAP measures.<\/p>\n
Use of Certain Terms<\/i><\/p>\n
\nThe term \u201crecurring revenue\u201d includes 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, cloud revenue, payment processing revenue, and certain professional services arrangements, as well as term-based software license arrangements that include customer termination rights. NCR Voyix\u2019s management considers recurring revenue, and the other operating metrics derived therefrom, to be an important indicator of the predictability of revenue and part of our strategic plan.<\/p>\n
\nThe term \u201cSoftware & Services Revenue\u201d includes all software, services and payments revenue and excludes hardware revenue.<\/p>\n
\nThe term \u201cRemaining Contract Value\u201d or \u201cRCV\u201d is the total remaining value under contract with customers for the Company\u2019s Voyix Commerce Platform applications that has not yet been recognized as revenue as of the end of the reporting period. RCV includes contract value for subscription periods that are cancellable by the customer, as the majority of our contracts are subject to termination provisions, including for convenience. There is no guarantee that the Company will be able to recognize the full amount of its RCV.<\/p>\n
\nThe term \u201cplatform sites\u201d includes all sites for which we bill for use of our Commerce platform.<\/p>\n
\nThe term \u201cpayment sites\u201d includes all sites which utilizes NCR Voyix\u2019s payment processing capabilities.<\/p>\n
Reconciliation of Net Income (Loss) from Continuing Operations Attributable to NCR Voyix (GAAP) to
\n
Adjusted Earnings Before Interest, Depreciation, Taxes and Amortization (Adjusted EBITDA)<\/b><\/p>\n\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n $ in millions<\/i><\/p>\n<\/td>\n | \n March 31, 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n March 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Net Income (Loss) from Continuing Operations Attributable to NCR Voyix (GAAP)<\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n (2<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(21<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation and amortization (excluding acquisition-related amortization of intangibles)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 46<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n50<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAcquisition-related amortization of intangibles<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 7<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 15<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n15<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest income<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \u2014<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(6<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nIncome tax expense (benefit)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n (39<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(7<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nStock-based compensation expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 8<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTransformation and restructuring costs<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 23<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n21<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nStrategic initiatives<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 18<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLitigation costs<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 2<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA (Non-GAAP) <\/b><\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 78<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n74<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Reconciliation of Diluted Earnings Per Share from Continuing Operations (GAAP) to
\n
<\/b>Non-GAAP Diluted Earnings Per Share from Continuing Operations (Non-GAAP)<\/b><\/p>\n\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n $ in millions<\/i><\/p>\n<\/td>\n | \n March 31, 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n March 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Diluted Earnings Per Share from Continuing Operations (GAAP)(1)<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n (0.04<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n(0.18<\/p>\n<\/td>\n | \n \n)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAcquisition-related amortization of intangibles<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 0.04<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.03<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nStock-based compensation expense<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 0.05<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.07<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTransformation and restructuring costs<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 0.11<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.08<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nStrategic initiatives<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 0.09<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.03<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nLitigation costs<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 0.01<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTax benefit<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n (0.19<\/b><\/p>\n<\/td>\n | \n )<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Non-GAAP Diluted EPS(1)<\/sup><\/b><\/p>\n<\/td>\n| \n $<\/b><\/p>\n<\/td>\n | \n 0.10<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.08<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n | | | | | | | |
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260507344180\/en\/2031964\/3\/NCR_Voyix_Purple.jpg\")
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