Q1 2025 NCR Voyix Corp Earnings Call Transcript
Key Points
- NCR Voyix Corp (VYX) signed new mid-market and enterprise customers in both restaurant and retail segments, expanding key existing relationships.
- The company is progressing on implementing its hardware ODM and new card acquiring capabilities, with plans to launch cloud-native platform and payment initiatives in the second half of the year.
- Recurring revenue increased by 2% to $407 million, now representing 66% of total company revenue.
- The company completed an additional $25 million of share repurchases, increasing the total aggregate purchase authority to $200 million.
- NCR Voyix Corp (VYX) is launching the Voyix commerce platform (VCP) to transform physical locations into digital experience channels, enhancing customer engagement and loyalty.
- Total revenue declined by 13% due to continued softness in hardware sales and exiting one-time software and services revenue.
- The company is facing tariff-related costs, estimated to be between $8 million and $12 million for the year, with potential to reach $20 million.
- Adjusted free cash flow was a use of $20 million for the quarter, reflecting normal seasonality and timing of certain cash receipts.
- The retail segment experienced a 14% decline in total segment revenue, primarily due to declines in hardware revenue and gross profit.
- The company is undergoing restructuring and transformation efforts, with costs expected to be higher than initially estimated, now at about $65 million.
Greetings and welcome to NCR Voyix first quarter 2025 earnings call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to turn the call over to your host, Sarah Jane Schneider.
Thank you. You may begin.
Good morning and thank you for joining our first quarter of 2025 earnings conference call. This morning we issued our earnings release reporting financials for the quarter ending March 31, 2025. A copy of the earnings release and the presentation that we will reference during this call are available on the investor relations section of our website, which can be found at www.ncrvoyix.com and have been filed with the SEC.
With me on the call today are Jim Kelly, our Chief Executive Officer; Brian Webb-Walsh, our Chief Financial Officer; Beimnet
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