NCR(NYSE) VYX

NCR Voyix Corporation helps stores and restaurants sell to customers. It makes software for paying and ordering food or goods. These tools work on phones, computers, and at checkout counters.

Commerce for Shops and Diners

• Retail: Software, services, and payment tools for grocery, convenience, and specialty retailers; accounts for 69.8% of revenue.
• Restaurants: Order and transaction processing solutions for quick-service and table-service establishments; accounts for 30.2% of revenue.
• Software and Services: Cloud-based applications, maintenance support, and professional services; accounts for 95.0% of revenue.
• Recurring Revenue: Contract-based income from subscriptions, cloud services, and payment processing; accounts for 83.2% of revenue.

Reshaping the Business Model

• Completed the spin-off of the ATM-focused business, NCR Atleos, on Oct. 16, 2023.
• Finalized the sale of the Digital Banking segment on Sept. 30, 2024.
• Transformed the self-checkout and point-of-sale hardware units into an outsourced manufacturing model in Aug. 2024.
• Shifted hardware sales to a commission-based agency model starting April 1, 2026.

Connecting Digital and Physical Worlds

The company uses a unified commerce platform to connect physical store hardware with cloud-based software. Operational efficiency is supported by cost reduction initiatives, including the use of artificial intelligence for software development.

The Latest Performance Data

• Total revenue was $523 million in the three months ended June 30, 2026, down 21% year over year.
• Adjusted EBITDA rose 5% to $98 million in the three months ended June 30, 2026.
• Service revenue reached $496 million in the second quarter of 2026, up 4% year over year.
• Net cash provided by operating activities was $59 million for the six months ended June 30, 2026.

The Big Picture

NCR Voyix has transitioned from a traditional hardware manufacturer to a software-led services provider. The company now focuses on recurring revenue through a platform-based commerce model for retail and dining.