Q3 2025 NCR Voyix Corp Earnings Call Transcript
Key Points
- NCR Voyix Corp (VYX) achieved a significant milestone by signing a new 6-year exclusive agreement with Chipotle, expanding their long-standing partnership.
- The company is transitioning to a software-led business model, focusing on high-margin software and services, which is expected to enhance long-term growth.
- Recurring revenue increased by 5% to $425 million, driven by growth in both the Restaurants and Retail segments.
- The company is leveraging AI-enabled development to accelerate innovation across its Voyix Commerce platform, enhancing its competitive edge.
- NCR Voyix Corp (VYX) is expanding its payments presence, with new agreements in the fuel sector, potentially increasing its addressable market for payments in the U.S. to approximately $1.4 trillion.
- Total revenue declined by 3% to $684 million, primarily due to lower hardware sales and one-time software and services revenue.
- The Retail segment experienced a 4% decline in total revenue, impacted by declines in hardware sales and one-time software and services revenue.
- The company is facing challenges in transitioning its hardware business, with the ODM implementation delayed and now scheduled to begin in January.
- Lower software and services revenue is anticipated due to customer adjustments tied to prior year delayed software implementations.
- The company is undergoing restructuring, with expected cash outflows of approximately $100 million for 2025, impacting short-term financials.
Good morning, ladies and gentlemen, and welcome to the NCR Voyix third quarter 2025 earnings conference call. (Operator Instructions) This call is being recorded on Thursday, November 6, 2025.
And I would now like to turn the conference over to Sara Schneider. Thank you. Please go ahead.
Good morning, and thank you for joining our third quarter 2025 earnings conference call. This morning, we issued our earnings release reporting financials for the quarter ended September 30, 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.ncrboyds.com and have been filed with the SEC.
With me on the call today are Jim Kelly, our Chief Executive Officer; Nick East, our Chief Product Officer; Beimnet Tadele, President, Restaurants; Darren Wilson, President, Retail; and Brian Webb-Walsh, our
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