Earnings release
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NCR Atleos Corporation Reports Strong Second Quarter Results August 05 , 2026 6:00 am EDT Related Documents ATLANTA -- ( BUSINESS WIRE ) -- NCR Atleos Corporation ( NYSE : NATL ) ( " Atleos " ) , a leader in expanding self - service financial access for financial institutions , retailers and consumers , today reported second quarter 2026 results . Key highlights include : • Total revenue for the first six months of 2026 was $ 2.1 billion , up 3 % year - over - year . 。 Total revenue of $ 1.1 billion in Q2 , with 70 % from recurring revenue streams . • Net income attributable to Atleos for the first six months was $ 87 million , up an impressive 64 % year - over - year ; Adjusted EBITDA for the first six months was $ 426 million , up 14 % year - over - year . 。 Net income attributable to Atleos in Q2 was $ 65 million , up 67 % year - over - year ; Adjusted EBITDA for Q2 was $ 254 million , up approximately 25 % year - over - year . • Self - Service Banking revenue for the first six months of 2026 increased 6 % with Self- Service Banking Adjusted EBITDA growth of 9 % . • Self - Service Banking revenue for Q2 was up 1 % as we compare against record hardware volumes for the last 12 - month period . • Self - Service Banking Adjusted EBITDA for Q2 increased 13 % led by ATM as a Service ( " ATMaaS " ) , Software , net tariff refunds , and productivity initiatives offsetting elevated memory and fuel costs . • Network revenue was flat for the first six months of 2026 with Network Adjusted EBITDA growth of 10 % . 。 Network revenue for Q2 declined 1 % with lower demand in crypto transactions , offset by strong volume growth in South Africa and Australia . 。 Network Adjusted EBITDA for Q2 increased 23 % year - over - year , led by positive settlement processing and lower vault cash costs . 。 Allpoint core transaction volumes remain strong with deposits reaching over one million in Q2 , fueled by the expansion of one of the largest convenience retailers and
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a renewal with one of the largest prepaid programs in the world. Tim Oliver, Atleos’ Chief Executive Officer, said, “NCR Atleos delivered another strong quarter and a very good first half of 2026. Our service-led growth initiatives and investment in product innovation are encouraging financial institutions and retailers to choose our differentiated and comprehensive offering to meet their evolving self-service needs. In the first half, service and software business paced our growth and ATM hardware revenue was steady at historically high 2025 levels. Productivity programs that outpaced war-related pressures and tariff relief allowed profit margins to improve significantly. “The regulatory and administrative processes required to complete our proposed transaction with The Brink’s Company are progressing and we now anticipate an accelerated timeline to close early in the first quarter of 2027. At the end of June, both Brink’s shareholders and NCR Atleos stockholders overwhelmingly voted to approve the transaction. This marked a significant step toward bringing together two great companies in a merger that will expand financial access, provide innovative solutions to our customers, and offer exciting opportunities to our employees,” Mr. Oliver concluded. Andy Wamser, Chief Financial Officer, added, “We have completed several important milestones in the regulatory and administrative processes required to complete our proposed transaction with The Brink’s Company, and we continue to make meaningful progress toward closing. In the first half of the year, we again delivered results that met our internal plan. As we close out the year, we expect higher earnings and cash flow conversion that will allow us to further reduce our net leverage in advance of the anticipated transaction.” Key Financial Highlights Q2 Total Revenue of $1.10 billion, flat year-over-year; with 70% from recurring revenue streams. Q2 Net Income Attributable to Atleos of $65 million, an increase of 67% year-over-year. Q2 Adjusted EBITDA of $254 million, an increase of 25% year-over-year. Q2 Diluted Earnings per Share of $0.86, an increase of 65% from prior year Q2; Adjusted Diluted Earnings per Share of $1.49, an increase of 67% from prior year Q2. Q2 Net Cash from operating activities of $30 million, Q2 Adjusted Free Cash Flow- unrestricted of $16 million. REVENUE AND ADJUSTED EBITDA SUMMARY (Unaudited) For the Periods Ended June 30, Three Months Six Months ($ in millions) 2026 2025 % Change 2026 2025 % Change Revenue by segment Self-Service Banking $ 741 $ 732 1% $ 1,438 $ 1,355 6%
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Second Quarter 2026 Operating Results Revenue Total Revenue of $1.10 billion was flat year over year for the second quarter of 2026, and included $776 million of recurring revenue, compared to $1.10 billion and $772 million, respectively, in the prior year period. Revenue from software and services (including ATMaaS) increased, offset by a reduction in hardware sales and associated installation services, and an expected reduction in other revenues as commercial agreements and commerce-related contracts with Voyix continued to wind down. Gross Margin Gross margin for the three months ended June 30, 2026 increased to 28.0% compared to 22.9% in the prior year period. The increase was driven by net tariff refunds, favorable product mix in software and services, productivity initiatives, and positive settlement processing and lower Network 316 319 (1)% 617 618 —% T&T 41 41 —% 81 84 (4)% Total segment revenue 1,098 1,092 1% 2,136 2,057 4% Other 5 10 (50)% 10 24 (58)% Consolidated revenue $ 1,103 $ 1,102 —% $ 2,146 $ 2,081 3% Adjusted EBITDA by segment Self-Service Banking $ 212 $ 188 13% $ 371 $ 340 9% Self-Service Banking Adjusted EBITDA margin % 28.6% 25.7% 25.8% 25.1% Network 106 86 23% 190 172 10% Network Adjusted EBITDA margin % 33.5% 27.0% 30.8% 27.8% T&T 7 9 (22)% 14 17 (18)% T&T Adjusted EBITDA margin % 17.1% 22.0% 17.3% 20.2% Other 2 (1) n/m 3 1 200% Corporate (73) (79) (8)% (152) (155) (2)% Total Adjusted EBITDA $ 254 $ 203 25% $ 426 $ 375 14% Total Adjusted EBITDA margin % 23.0% 18.4% 19.9% 18.0% (1) (1) (2) Represents certain other immaterial business operations that do not represent a reportable segment, including commerce-related operations in countries that Voyix exited that are aligned to Atleos. Other also includes revenues from commercial agreements with Voyix. Includes income and expenses related to corporate functions not specifically attributable to an individual reportable segment. (1) (2)
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vault cash costs in the transaction business, offset by an increase in other costs, including fuel and memory chips. Adjusted gross margin increased from 24.9% to 30.2%. Net Income and Net Income Margin Net income attributable to Atleos for the second quarter of 2026 increased 67% to $65 million, or 6% of revenue, compared to $39 million, or 4% of revenue in the prior year period. Other Results Net cash from operating activities for the second quarter was $30 million. Adjusted free cash flow-unrestricted was $16 million. Pending Transaction with The Brink’s Company In light of the pending transaction with The Brink’s Company (Brink’s), Atleos will not be hosting an earnings conference call to review second quarter results or providing a financial outlook. References to Atleos’ website and/or other social media sites or platforms in this release do not incorporate by reference the information on such websites, social media sites, or platforms, and Atleos disclaims any such incorporation by reference. About Atleos Atleos (NYSE: NATL) is a leader in expanding self-service financial access, with industry-leading ATM expertise and experience, unrivaled operational scale including the largest independently- owned ATM network, always-on global services and constant innovation. Atleos improves operational efficiency for financial institutions, drives footfall for retailers and enables digital- first financial self-service experiences for consumers. Atleos is ranked #12 in Newsweek’s prestigious 2025 Top 100 Global Most Loved Workplaces® list. Atleos is headquartered in Atlanta, Ga., with approximately 20,000 employees globally. For more information, visit www.ncratleos.com. Forward-Looking Statements This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”). Forward-looking statements use words such as “expect,” “anticipate,” “outlook,” “intend,” “plan,” “confident,” “believe,” “will,” “should,” “would,” “potential,” “positioning,” “proposed,” “planned,” “objective,” “likely,” “could,” “may,” and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Act. Statements that describe or relate to Atleos’ plans, goals, intentions, strategies, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Examples of forward-looking statements in this release including, but not limited to, statements regarding: Atleos’ proposed transaction with Brink’s, revenue acceleration in ATMaaS business, the expansion of our global self-service banking platform, recurring revenue opportunities, statements regarding Atleos’ performance, and impact from tariffs constitute “forward-looking
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statements” as defined in the Act. Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company’s present expectations. These risks and uncertainties include, but are not limited to, strategy and technology transforming our business model, our ability to integrate acquisitions and manage alliance activities, domestic and global economic and credit conditions, ability to properly assess expenses related to tariffs and other expenses, key employee retention and ability to attract talented employees, our relationships with third parties and any failures of our third-party suppliers, our level of indebtedness and our cash flow sufficiency to service our indebtedness, interest rate risks, terms governing our trade receivables liabilities, allegations or claims by third parties that our products and services infringe on intellectual property rights of others, our separation from NCR Corporation, the impact of, and our ability to remediate, any future material weaknesses in our internal control over financial reporting and the perceived reliability of Atleos’ financial statements if Atleos is unable to satisfy requirements of Section 404 of the Sarbanes Oxley Act, the failure of NCR Voyix Corporation (“Voyix”) to perform under various transactions agreements, Atleos’ obligation to indemnify Voyix pursuant to the agreements entered into in connection with the spin-off (including with respect to material taxes), the risk that Voyix may not fulfill any obligations to indemnify Atleos under such agreements, currency movements and other risks of conducting business internationally and the impact of regulatory and litigation matters, the incurrence of significant costs related to the mergers with Brink’s (the “Transactions”); Brink’s ability to consummate the Transactions; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; Brink’s ability to finance the Transactions; the failure to obtain applicable regulatory approvals in a timely manner or otherwise; the failure to satisfy any other conditions to closing of the Transactions; failure to realize the anticipated benefits and synergies of the Transactions in the expected timeframe or at all, including as a result of a delay in consummating the Transactions; the focus of management’s time and attention on the Transactions and other potential disruptions arising from the Transactions; the effects of the announcement of the Transactions on Atleos’ business; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with banks, employees, customers or suppliers) may be greater than expected following the public announcement of the Transactions; the potential for litigation related to the Transactions; and Brink’s or Atleos’ ability to obtain certain third party or governmental regulatory consents, approvals or clearances. Additional information concerning these and other factors can be found in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and other filed proxy statements and reports. Any forward-looking statement speaks only as of the date on which it is made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Periods Ended June 30, Three Months Six Months ($ in millions, except per share amounts) 2026 2025 2026 2025
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Revenue Product revenue $ 248 $ 265 $ 469 $ 454 Service revenue 855 837 1,677 1,627 Total revenue 1,103 1,102 2,146 2,081 Cost of products 181 217 369 377 Cost of services 613 633 1,234 1,220 Total gross profit 309 252 543 484 % of Revenue 28.0% 22.9% 25.3% 23.3% Selling, general and administrative expenses 133 116 263 238 Research and development expenses 20 17 40 34 Income from operations 156 119 240 212 % of Revenue 14.1% 10.8% 11.2% 10.2% Interest expense (62) (69) (125) (136) Other income (expense), net (4) 7 8 3 Total interest and other expense, net (66) (62) (117) (133) Income before income taxes 90 57 123 79 % of Revenue 8.2% 5.2% 5.7% 3.8% Income tax expense 25 19 36 28 Net income 65 38 87 51 Net loss attributable to noncontrolling interests — (1) — (2) Net income attributable to Atleos $ 65 $ 39 $ 87 $ 53 Net income per share attributable to Atleos common stockholders Basic $ 0.88 $ 0.53 $ 1.18 $ 0.72 Diluted $ 0.86 $ 0.52 $ 1.15 $ 0.71 Weighted average common shares outstanding Basic 73.8 73.5 73.7 73.3 Diluted 75.8 74.9 75.7 75.1 CONSOLIDATED BALANCE SHEETS (Unaudited) ($ in millions, except per share amounts) June 30, 2026 December 31, 2025 Assets Current assets Cash and cash equivalents $ 429 $ 456
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Accounts receivable, net of allowances of $13 and $12 as of June 30, 2026 and December 31, 2025, respectively 601 550 Inventories 351 342 Restricted cash 164 175 Other current assets 303 301 Total current assets 1,848 1,824 Property, plant and equipment, net 524 511 Goodwill 1,957 1,958 Intangibles, net 451 498 Operating lease right of use assets 180 177 Prepaid pension cost 263 259 Deferred income tax assets 279 288 Other assets 162 153 Total assets $ 5,664 $ 5,668 Liabilities and stockholders’ equity Current liabilities Short-term borrowings $ 84 $ 86 Accounts payable 597 617 Payroll and benefits liabilities 104 139 Contract liabilities 408 383 Settlement liabilities 183 184 Other current liabilities 426 490 Total current liabilities 1,802 1,899 Long-term borrowings 2,711 2,672 Pension and indemnity plan liabilities 302 313 Postretirement and postemployment benefits liabilities 42 43 Income tax accruals 26 24 Operating lease liabilities 141 139 Deferred income tax liabilities 37 41 Other liabilities 139 135 Total liabilities $ 5,200 $ 5,266 Commitments and Contingencies (Note 8) Stockholders’ equity Atleos stockholders’ equity: Preferred stock: par value $0.01 per share, 50.0 shares authorized, no shares issued — — Common stock: par value $0.01 per share, 350.0 shares authorized, 73.8 and 73.7 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 1 1 Paid-in capital 75 65 Retained earnings 371 299 Accumulated other comprehensive income 17 38 Total Atleos stockholders’ equity 464 403 Noncontrolling interests in subsidiaries — (1)
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Total stockholders’ equity 464 402 Total liabilities and stockholders’ equity $ 5,664 $ 5,668 CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Periods Ended June 30, Three Months Six Months ($ in millions) 2026 2025 2026 2025 Operating activities Net income $ 65 $ 38 $ 87 $ 51 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Depreciation and amortization expense 72 72 142 141 Stock-based compensation expense 10 8 17 17 Pension, postretirement and postemployment benefit (income) expense (9) (2) (16) (2) Deferred income taxes (3) 2 (2) 3 Impairment of other assets 1 — 1 — (Gain) loss on divestiture and disposal of assets, net (3) (24) (2) (27) Loss from equity investments 2 1 2 1 Changes in assets and liabilities: Receivables (30) (2) (55) (64) Inventories 5 (47) (35) (107) Current payables and accrued expenses (1) 42 (34) 5 Contract liabilities (24) (15) 26 70 Employee benefit plans (23) (7) (35) (12) Settlement assets and liabilities, net 10 2 (4) 95 Other assets and liabilities (42) (93) (71) (73) Net cash (used in) provided by operating activities $ 30 $ (25) $ 21 $ 98 Investing activities Capital expenditures $ (26) $ (21) $ (53) $ (50) Additions to capitalized software (11) (14) (21) (26) Business acquisitions, net of cash acquired (1) — (1) — Proceeds from sale of property, plant, and equipment 11 24 11 24
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Reconciliation of Non-GAAP Financial Measures We supplement the reporting of our financial information determined under generally accepted accounting principles ("GAAP") with certain non-GAAP adjusted financial measures. Management views and evaluates business performance on both a GAAP basis and by excluding costs and benefits associated with these non-GAAP adjusted financial measures. As a result, we believe the presentation of these non-GAAP adjusted financial measures better enables users of our financial information to view and evaluate underlying business performance from the same perspective as management. Non-GAAP adjusted financial measures should be considered in addition to, and not as an alternative for, our reported results prepared in accordance with GAAP. Our non-GAAP adjusted financial measures do not represent a comprehensive basis of accounting and therefore may not be comparable to similarly titled measures reported by other companies. Non-GAAP Adjusted Gross Profit and Adjusted Gross Margin, Non-GAAP Adjusted Income from Operations, and Non-GAAP Adjusted Diluted Earnings per Share exclude, as applicable, acquisition-related costs, including costs related to the Brink’s transaction; pension mark-to- market adjustments and other one-time pension-related costs; separation-related costs; amortization of acquisition-related intangibles; stock-based compensation expense; Proceeds from divestiture — 11 12 11 Sale of investments — — — 4 Net cash (used in) investing activities $ (27) $ — $ (52) $ (37) Financing activities Payments on term credit facilities $ (20) $ (20) $ (72) $ (59) Borrowings on revolving credit facilities 180 290 440 440 Payments on revolving credit facilities (150) (290) (330) (425) Tax withholding payments on behalf of employees (1) (1) (7) (8) Payments on acquisition holdback (2) — (10) (16) Proceeds from employee stock plans — 7 — 7 Repurchases of common stock — — (16) — Principal payments for finance lease obligations (2) (1) (4) (2) Other financing activities — (2) (7) (3) Net cash (used in) provided by financing activities $ 5 $ (17) $ (6) $ (66) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1 8 (2) 12 Increase (decrease) in cash, cash equivalents, and restricted cash $ 9 $ (34) $ (39) $ 7 Cash, cash equivalents, and restricted cash at beginning of period 596 682 644 641 Cash, cash equivalents, and restricted cash at end of period $ 605 $ 648 $ 605 $ 648
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transformation and restructuring charges (which includes integration, severance, divestiture and other exit and disposal costs); Voyix legal and environmental indemnification expense; foreign currency remeasurement impacts in hyper-inflationary countries; and other non-recurring or unusual items. Management uses these non-GAAP measures to evaluate performance consistently over various periods. Non-GAAP Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) and Adjusted EBITDA Margin are determined by taking Net income (loss) attributable to Atleos and adding back interest expense; income tax expense (benefit); depreciation and amortization; amortization of acquisition-related intangibles; acquisition-related costs, including costs related to the Brink’s transaction; pension mark-to-market adjustments and other one-time pension-related costs; separation-related costs; transformation and restructuring charges (which includes integration, severance, divestiture and other exit and disposal costs); stock-based compensation expense; Voyix legal and environmental indemnification expense; and other amounts included in Other income (expense), net. Adjusted EBITDA margin by segment is calculated based on segment Adjusted EBITDA divided by the related segment component of revenue. Management use these non-GAAP measures to allocate resources and to evaluate performance consistently from period to period. Adjusted free cash flow-unrestricted is calculated as net cash (used in) provided by operating activities less capital expenditures, less additions to capitalized software, plus/minus the change in restricted cash settlement activity, plus proceeds from certain sale-leaseback transactions, plus pension contributions and settlements, plus legal and environmental indemnification payments made to Voyix, and plus certain significant acquisition-related payments. Restricted cash settlement activity represents the net change in amounts collected on behalf of, but not yet remitted to, certain of our merchant customers or third-party service providers that are pledged for a particular use or restricted to support these obligations. These amounts can fluctuate significantly period to period based on the number of days for which settlement has not yet occurred or day of the week on which a reporting period ends. We believe Adjusted free cash flow-unrestricted is useful for investors because it indicates the amount of cash available for, among other things, investments in our existing businesses, strategic acquisitions and repayment of our debt obligations. Adjusted free cash flow-unrestricted does not represent the residual cash flow available, since there may be other non-discretionary expenditures that are not deducted from the measure. Adjusted free cash flow-unrestricted does not have a uniform definition under GAAP, and therefore Atleos’ definition may differ from other companies’ definitions of this measure. This non-GAAP measure should not be considered a substitute for, or superior to, cash flows from operating activities under GAAP. Adjusted free cash flow conversion is calculated by dividing Adjusted free cash flow-unrestricted by Adjusted EBITDA. Management uses Adjusted free cash flow conversion to demonstrate how much net income is converted into cash. Management believes that adjusted free cash flow is an important financial measure for use in evaluating the Company’s liquidity. Adjusted free cash flow should be considered in addition to, rather than as a substitute for, net cash provided by operating activities as a measure of our liquidity. Net leverage ratio, a financial valuation measure, is calculated by dividing Adjusted net debt by trailing twelve-month Adjusted EBITDA. We believe this ratio provides useful information to investors because it is an indicator of the Company’s ability to meet its future financial obligations. In addition, the net leverage ratio is a measure frequently used by investors and credit rating agencies.
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Use of Certain Terms Adjusted Net Debt is based on our total debt less cash and cash equivalents, with total debt defined as total short-term borrowings plus total long-term borrowings as presented on the Consolidated Balance Sheets. Recurring revenue is 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, processing revenue, interchange and network revenue, Bitcoin-related revenue, and certain professional services arrangements, as well as term-based software license arrangements that include customer termination rights. Annualized Recurring Revenue (“ARR”) is an operating metric that we define as recurring revenue, excluding software licenses sold as a subscription, for the last three months times four, plus the rolling four quarters for term-based software license arrangements that include customer termination rights. We believe this metric may be useful to investors in evaluating the Company’s achievement of strategic goals related to the conversion of the self-service banking business to recurring revenue streams over time. ARR does not necessarily reflect the pattern of revenue recognition in accordance with GAAP and should not be considered a substitute for GAAP revenue. Last twelve months average revenue per unit (“LTM ARPU”) is an operating metric for the Network segment that we define as total Network segment revenue for the previous twelve months divided by the average Network Managed Units for the previous twelve months. We believe this metric may be useful to investors in evaluating our achievement of strategic goals related to the improved monetization of our ATM fleet over a specified period, excluding the impact of seasonality. LTM ARPU does not represent revenue generated solely by our Network Managed Units, as total Network segment revenue includes revenue generated from other sources. Network Managed Units are all transacting ATMs as of period end, whether Company-owned or Merchant-owned, other than those for which we only provide third-party processing services and those under legacy managed services arrangements. Other performance metrics Three months ended June 30, ($ in millions, unless otherwise noted) 2026 2025 Self-Service Banking Annualized recurring revenue $ 1,721 $ 1,679 Recurring revenue as a % of SSB revenue 58% 57% Revenue from ATMaaS arrangements $ 77 $ 62 Network LTM ARPU (in thousands) $ 16.0 $ 16.2 Network Managed Units (in thousands) 77.0 77.0 (1) (1) (1) (1) Refer to our definitions of Annualized recurring revenue, Recurring revenue, LTM ARPU and Network Managed Units in the section entitled “ Use of Certain Terms” above. (1)
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The following table presents the recurring revenue and all other products and services revenue that is recognized at a point in time: ($ in millions) Three months ended June 30, 2026 2025 Recurring revenue $ 776 $ 772 All other products and services 327 330 Total revenue $ 1,103 $ 1,102 Recurring revenue as a percent of revenue 70% 70% Reconciliation of Net Income Attributable to Atleos (GAAP) to Adjusted Net Income Attributable to Atleos (Non-GAAP) and Diluted Earnings Per Share (Non-GAAP) Three months ended June 30, 2026 ($ in millions, except per share amounts) Gross profit Gross margin Income from operations Net income (loss) attributable to Atleos Weighted average diluted shares outstanding Diluted earnings (loss) per share GAAP Results $ 309 28.0% $ 156 $ 65 75.8 $ 0.86 Plus: Transformation and restructuring 2 0.2% 10 8 0.11 Stock-based compensation expense 2 0.2% 10 9 0.12 Amortization of acquisition-related intangibles 20 1.8% 24 19 0.25 Acquisition-related costs — —% 8 7 0.09 Voyix indemnification expense — —% 1 3 0.04 Other tax adjustments — —% — 1 0.01 Hyperinflationary foreign currency adjustment — —% — 1 0.01 Non-GAAP Adjusted Results $ 333 30.2% $ 209 $ 113 75.8 $ 1.49 Reconciliation of Net Income Attributable to Atleos (GAAP) to Adjusted Net Income Attributable to Atleos (Non-GAAP) and Diluted Earnings Per Share (Non-GAAP) For the three months ended June 30, 2025 ($ in millions, except per share amounts) Gross profit Gross margin Income from operations Net income (loss) Weighted average diluted Diluted earnings
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attributable to Atleos shares outstanding (loss) per share GAAP Results $ 252 22.9% $ 119 $ 39 74.9 $ 0.52 Plus: Transformation and restructuring — —% — (9) (0.12) Stock-based compensation expense 2 0.2% 8 7 0.09 Amortization of acquisition-related intangibles 20 1.8% 24 18 0.24 Acquisition-related costs — —% 1 1 0.01 Separation costs — —% 6 6 0.08 Voyix indemnification expense — —% — 1 0.01 Hyperinflationary foreign currency adjustment — —% — 4 0.06 Non-GAAP Adjusted Results $ 274 24.9% $ 158 $ 67 74.9 $ 0.89 Reconciliation of Net Income (Loss) Attributable to Atleos (GAAP) to Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) (Non-GAAP) Three months ended June 30, ($ in millions) 2026 % of Revenue 2025 % of Revenue Net income attributable to Atleos (GAAP) $ 65 5.9% $ 39 3.5% Interest expense 62 5.6% 69 6.3% Interest income (2) (0.2)% (1) (0.1)% Income tax expense 25 2.3% 19 1.7% Depreciation and amortization expense 45 4.1% 44 4.0% Amortization of acquisition-related intangibles 24 2.1% 24 2.2% Stock-based compensation expense 10 0.9% 8 0.7% Separation costs — —% 6 0.5% Acquisition-related costs 8 0.7% 1 0.1% Transformation and restructuring 10 0.9% (11) (1.0)% Voyix indemnification expense 3 0.3% 1 0.1% Other (income) expense items, net 4 0.4% 4 0.4% Adjusted EBITDA (Non-GAAP) $ 254 23.0% $ 203 18.4% (1) Reconciliation of Net Income (Loss) Attributable to Atleos (GAAP) to Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) (Non-GAAP)
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Six months ended June 30, ($ in millions) 2026 % of Revenue 2025 % of Revenue Net income attributable to Atleos (GAAP) $ 87 4.1% $ 53 2.5% Interest expense 125 5.8% 136 6.6% Interest income (4) (0.2)% (2) (0.1)% Income tax expense 36 1.7% 28 1.3% Depreciation and amortization expense 89 4.2% 86 4.1% Amortization of acquisition-related intangibles 48 2.2% 47 2.3% Stock-based compensation expense 17 0.8% 17 0.8% Separation costs — —% 8 0.4% Acquisition-related costs 10 0.5% 1 —% Transformation and restructuring 5 0.2% (10) (0.5)% Voyix indemnification expense 6 0.3% 5 0.3% Other (income) expense items, net 7 0.3% 6 0.3% Adjusted EBITDA (Non-GAAP) $ 426 19.9% $ 375 18.0% (1) Includes certain items reported within Other income (expense), net on the Condensed Consolidated Statements of Operations, such as bank fees, the components of pension, postemployment and postretirement expense other than service cost, and the impact of foreign currency exchange rate fluctuations. Certain other amounts reported in Other income (expense), net are separately captured in this reconciliation. As a result, Other (income) expense items as presented does not agree to total Other income (expense), net on the Condensed Consolidated Statements of Operations. (1) Reconciliation of Net Cash Provided by Operating Activities (GAAP) to Adjusted Free Cash Flow-Unrestricted (Non-GAAP) QTD QTD YTD YTD ($ in millions) Q2 2026 Q2 2025 Q2 2026 Q2 2025 Net cash (used in) provided by operating activities $ 30 $ (25) $ 21 $ 98 Capital expenditures (26) (21) (53) (50) Additions to capitalized software (11) (14) (21) (26) Change in restricted cash settlement activity (13) 37 11 (69) Pension contributions 11 6 22 7 Voyix indemnification payments 9 6 7 6 Acquisition-related payments 6 — 6 — Proceeds from ATM sale-leaseback transactions 10 24 10 24 Adjusted free cash flow-unrestricted $ 16 $ 13 $ 3 $ (10)
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View source version on businesswire.com: https://www.businesswire.com/news/home/20260805452979/en/ News Media Contact Scott Sykes NCR Atleos Corporation scott.sykes@ncratleos.com Investor Contact Omar Azimi NCR Atleos Corporation omar.azimi@ncratleos.com Source: NCR Atleos Corporation Released August 5, 2026 Reconciliation of Long-term Borrowings and Net Income (GAAP) to Net Leverage Ratio (Non- GAAP) ($ in millions) June 30, 2026 June 30, 2025 Short-term borrowings $ 84 $ 81 Long-term borrowings 2,711 2,816 Cash and cash equivalents (429) (357) Adjusted net debt $ 2,366 $ 2,540 Trailing Twelve Months Net income attributable to Atleos (GAAP) $ 196 $ 115 Adjusted EBITDA (Non-GAAP) $ 881 $ 809 Net leverage ratio 2.69x 3.14x Email Alerts Company Profile Contacts RSS News Feed
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