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Mar 31, 2024

NCR Q1 2024 Earnings Report

NCR Atleos Corporation reported a strong start to 2024, with financial results at or above the high-end of first quarter guidance.

Key Takeaways

NCR Atleos Corporation reported a revenue increase of 6% year-over-year to $1.05 billion, with recurring revenue growing 7% to a record $763 million. Adjusted EBITDA grew 11% year-over-year to $162 million, and the company reaffirmed its full-year 2024 guidance.

Revenue grew 6% year-over-year to $1.05 billion; Recurring revenue grew 7% to a record $763 million.

Adjusted EBITDA grew 11% year-over-year to $162 million; Adjusted free cash flow of $69 million.

GAAP net loss of $8 million; Operating cash flow of $148 million.

GAAP fully diluted loss per share of $0.11; Non-GAAP fully diluted earnings per share of $0.41.

Total Revenue
$1.05B
Previous year: $986M
+6.5%
EPS
$0.41
Previous year: $0.51
-19.6%
Adjusted EBITDA
$162M
Previous year: $146M
+11.0%
Gross Margin
21%
Previous year: 22.3%
-5.8%
Gross Profit
$221M
Previous year: $220M
+0.5%
Cash and Equivalents
$343M
Previous year: $282M
+21.6%
Free Cash Flow
$69M
Previous year: $105M
-34.3%
Total Assets
$5.78B

NCR

NCR

NCR Revenue by Segment

Forward Guidance

The company reaffirmed its full year 2024 guidance and issued second quarter guidance.

Revenue & Expenses

Visualization of income flow from segment revenue to net income