Hello, everyone. On behalf of the entire Voyix management team, I want to welcome you to Voyix's first Investor Day. My name is Sarah Jane Schneider, and I'm the Executive Director of Investor Relations. Before we begin, I want to cover a few housekeeping items. The runtime for today's event will be approximately two hours, with roughly an hour and a half of prepared remarks, followed by a question-and-answer session. We have a full agenda today with presentations from the new Voyix management team. We will provide a comprehensive update of our business and our strategy and explain to you why we believe Voyix is a compelling investment opportunity. Voyix is a platform-led SaaS and services company. You will hear how we will leverage our strong market position in retail, restaurants, and digital banking to drive profitable growth for the company. You will also hear how we are competing and winning in each of our industry segments. And finally, you will hear directly from our customers and why they choose to partner with Voyix to run their mission-critical applications. Before we get started, let me remind you that our presentation and discussions will include forward-looking statements. These statements reflect our current expectations and beliefs, but they're subject to risks and uncertainties that could cause actual results to differ materially from those expectations. These risks and uncertainties are described in the presentation materials, as well as the company's earnings releases and our periodic filings with the SEC. Today, we will also be discussing certain non-GAAP financial measures. Further information regarding these non-GAAP financial measures is set forth in the presentation materials. However, I do want to point out that the historical financial information and any forecasted financial information included in this presentation were determined based on the retail, restaurant, and digital banking segment results, including an estimate of corporate costs, perimeter adjustments, and the impacts from the commercial agreements between Voyix and Atleos. The actual historical results may differ from the periods presented based on the GAAP requirements for reporting discontinued operations. A replay of today's presentation will be available later today on the investor relations portions of our website. And with that, I'd like to welcome you to the Voyix Investor Day. Let's get started. Welcome. Welcome to the first Investor Day as NCR Voyix. I'm gonna get it back down to David Wilkinson, the CEO of NCR Voyix, shortly. But before I do that, I just wanted to share a few of my thoughts. My name is Mike Hayford. I'm the CEO of NCR. Today, we're embarking on a new era in NCR of innovation, 130 years of innovation, 130 years of change, 130 years of creating value for our shareholders and delivering for our customers, and attracting and retaining the best and brightest employees in the industry. So today, we're talking about NCR Voyix. What is NCR Voyix? So NCR Voyix is NCR's digital commerce businesses. Digital commerce businesses that serve restaurants, that serve retailers, and serve digital banking without the ATM component of NCR. So the ATM business of NCR is being spun off in a tax-free distribution. It'll be branded NCR Atleos. NCR Atleos is actually having an Investor Day later this afternoon. So NCR Voyix, digital commerce delivered on a platform-based, software platform-based in a SaaS environment, again, for restaurants, for retailers, and for digital bank. Literally, what we would say is mission-critical systems to really open your stores, open your restaurant, or operate digital banking as a retail client. I'm gonna give you my thoughts on NCR Voyix and what makes it unique, what makes it interesting as an investment thesis, as a shareholder. Number one, it literally is market share leader in the segments it operates in. Market share leader for point-of-sale software in retail, point-of-sale software in, in hospitality or in the restaurant business, and the leader in digital banking, delivered as a SaaS model for retail banks and, and, and credit unions around the country. Number two, it has the products. We've invested in the products. It has products that can compete today and win in the marketplace. It's doing that. You're seeing the growth start to accelerate, across the board, and moving, really moving to that software-led, software as a service-led, SaaS-based model in, all three vertical industries. The business model has made that shift. We don't sell our products other than on a subscription basis. We've seen that as you look at... And the team, David and Brian, and the team will share with you some of the KPIs, some of the metrics that you'll wanna track as we grow those platform-based businesses, as we migrate customers, but also add new customers, and then equally important, add additional revenue, add additional products for those customers and grow that, grow that ARPU. And then the last thing I'll just talk about a little bit is the company has the scale and the financials to compete and deliver against anybody in the industry. And if you think about what I just described, vertical industries and retail, hospitality, digital banking, and the scale at which that business operates, not only driving top-line revenue, solid top-line revenue growth, EBITDA margins, EBITDA margins, and a solid cash flow. If you think about other entities that you look at that we quite frankly compete with, but also you'd invest in the space in digital banking, a Q2, an Alkami, an nCino. In the point-of-sale industry, Lightspeed, a PAR, a Toast. When you think about NCR Voyix at the scale that it competes, the growth that it has, and the EBITDA margins that it continues to have, pretty compelling investment, pretty compelling value out in the industry. Let me just spend a little time about David and the team. So David Wilkinson, CEO, I've worked with David for a number of years. I would call him a good friend. I love his passion. I love his commitment. He's a great leader. You'll see this when I throw it back down to David in the studio, and he's gonna be an awesome awesome CEO. I'm very excited that I get to turn over the baton to somebody that, quite frankly, I like as much as David, and I know he's gonna do a wonderful job at NCR Voyix. So David, down to you and your team in the studio. Good morning, and welcome to the first Investor Day for NCR Voyix. I'm David Wilkinson, and on behalf of the entire Voyix senior leadership team, I want to thank you for spending time with us today to learn more about the Voyix story. As you heard from Mike, and as I hope you saw in that opening video, this is an exciting time for our business as we prepare to launch Voyix from the strong foundational heritage of NCR. Our goal is that the story you'll hear over the next two hours will give you a better understanding of the drivers of growth and expanded profit in this amazing business. This thesis is underpinned by deep customer relationships, intelligent, driven, and motivated employees, and innovative products that are designed to meet the rapidly evolving needs of the marketplace. We hope you'll walk away from this presentation with a firm understanding of the Voyix business, the markets and customers we serve, our right to win in our target markets, and the attractiveness of the overall financial performance of this business. Before we jump in, let me tell you a little bit more about me. I joined NCR almost 13 years ago after several stops in the tech industry. I spent time in the banking and retail industries, and more recently, about 5 years ago, was asked to take full responsibility for the retail business. And a few years after that, I assumed responsibility for the entire commerce business, including our restaurant business. It's been an honor and a privilege to work closely with Mike, Owen, and the rest of the senior leadership team to help guide NCR to where we are today. But I'm even more excited about where we're going in the years ahead. As you heard in Mike's opening, this is truly a new era for our company, and I can't wait for you to hear about the next chapter in our story. Let's jump in. The messages you will hear as the team goes through each of the segments will align common themes. We are a market leader in all the segments we serve. We are experts in the retail, restaurant, and digital banking industries, and we intend to build on our leadership position. This market leadership creates a large install base of customers that serves as the foundation of our transformation. With our customer-first mindset, we have improved our net promoter score to over 50 from a starting point in single digits. You will see as we transform and drive our platform business model, we will fundamentally change the financial profile of our company. Connecting customers to the platform and adding enhanced capabilities expands our average revenue per unit, or ARPU as we call it, and enables new capabilities for our customers. This focus on driving seamless, customer-centric technology solutions gives us the rights to win in our markets, not only with our existing customers, but with new customers as well. We are operating in attractive market segments that are characterized by growing technology spend. As you'll hear about more later, many of our customers are facing an upgrade imperative with respect to their technology. They want to create better, more modern consumer experiences, and they need the technology infrastructures to support those experiences. This trend creates a tailwind for our business that we're excited to tell you more about today. Finally, you will hear today about the steps we are taking to improve the profitability of our business. We will drive EBITDA margin expansion via better mix of revenue and through renewed focus on cost discipline. Now let's look at the Voyix current business. Voyix is a platform-led SaaS and services company that serves three essential industries: retail, restaurants, and banks. What all three have in common is the need to modernize their technology to better serve their customers as the physical and digital worlds come together. Today, we generate almost $4 billion in top-line revenue, with fully half of that being recurring. Software and services makes up the majority of the revenue, coming in at $2.5 billion. And unlike many of the companies we compete with, we have healthy EBITDA margins. And as I mentioned a moment ago, we are a market leader in all the segments we serve. The number one provider of digital banking applications…. The number one provider of point-of-sale software in retail and restaurants. We've enjoyed the number one position in self-checkout for 20 years, and we're the largest provider of help desk and managed services for the retail and restaurant segments. We have a solid, diversified revenue mix across all three business segments, as well as the size, scale, and global presence to support our customers as they expand the scale and reach of their own businesses. In short, Voyix is a profitable platform-led software and services company leading the market. This next slide highlights the breadth and scale of Voyix's offerings. This is a sample of our impressive blue-chip customer base. Many, if not most of these businesses are household names that are essential to a functioning economy, and we are providing business-critical applications to this group. This creates stickiness, longevity of relationships, and insulation from external forces on our business. We are proud to do business with these companies and thousands more like them, of all sizes and from all sectors and industries. I would like to say thank you to all of our customers. All of those great businesses and the entire industry are facing a similar challenge: differentiating their customers' and associates' experience to win in the markets they serve. Creating these differentiated experiences will rely on complex technology and services. We have a great portfolio of solutions to meet this challenge head-on. Our portfolio today for retail and restaurants starts with the point of sale as the core. This is a very sticky application that is the heartbeat of the store. Everything runs through the point of sale: all transaction data, inventory data, customer data, pricing, and promotions. Modernizing the point of sale and connecting to the platform becomes the critical path for tech modernization in this segment. But our ability to serve our customers doesn't stop there. As we transition customers from legacy technology solutions to modern cloud-based software platform, we can help them simplify their technology infrastructure by providing end-to-end capabilities to help them more effectively run their entire store or restaurant. Similarly, Digital Banking delivers consumer-facing SaaS applications that allow financial institutions to deliver a Digital-First Banking experience to their clients. We all use our mobile phones today as our primary bank, and our Channel Services Platform creates common experiences across all bank channels and allows our customers to create differentiated experience. Starting with this foundational portfolio, Voyix is uniquely positioned to deliver the end-to-end capabilities required to pull this off. Our best-in-class platform connects the entire experience with end-to-end capabilities to run the store and link digital banking interactions. We simplify and manage the technology to run the store or consumer bank branch, so our customers can focus on their customers and associates. The team will describe what we do in more detail throughout the presentation. Speaking of the team, we have assembled an amazing team to deliver on this strategy, and you'll hear from several of them today. A few key tenets were instrumental in the development of this team. We redesigned the organization to drive a higher sense of urgency and accountability of outcomes, and we brought in new leadership talent with the right experience to complement the great team that was already here. And where we didn't need new talent, we reshuffled the existing management team to create a stronger focus on the business and the needs of our customers. The result is a mix of experienced Voyix industry leaders, combined with proven leaders from the outside who have led or participated in similar transformations. Through these changes, we are extending our values of putting customers first, building great products, and cultivating great teams. We've added to that a high sense of urgency and strong accountability. The result is a highly motivated and capable team ready to execute our strategy, and I'm excited to showcase our deep bench of executive leadership. And while we are experiencing a new beginning in many ways and launching a new era in our company's story, the truth is we've been positioning this moment for several years. In fact, we've made significant progress over the past five. We have moved beyond our legacy as a hardware-only provider with mediocre service performance to having an enviable market position with high software and services content and a steadily climbing NPS score. This slide shows just how far we've come. We've made great strides in shifting our product focus and go-to-market approach, moving from a product-selling mentality to being a key solution provider to our customers, supported by a broad suite of software solutions. Our goal is to be the one-stop shop for the technology our customers need to run their stores. Likewise, customer sentiment has shifted significantly from bare minimum market requirement service levels to delivering more consistent consumer experiences, which have seen a huge impact, and finally, taking the next step towards continuously improving our NPS and customer service. As we've done this, we've seen our revenue model shift. We started with minimal recurring revenue and will push to a revenue base with approximately 65% recurring revenue over the planning horizon. Brian will talk more about this later. Finally, we're continuing to emPAR a customer-first culture that treats every customer like they're our only customer, and we will continue to ingrain that into our culture moving forward. But that's not good enough. We will push on to make a further transformation as we become a platform-led SaaS and services company that is a true partner to our clients, consistently delivering world-class experience. As I described earlier, our growth strategy is straightforward. We will continue the momentum on NPS and serve our customers with excellence so that we can grow together with them. We'll accelerate platform conversion, getting customers connected to the platform so that we can seamlessly deliver new products and capabilities, unlocking value for them and us. Once connected, adding new capabilities and services becomes easier, allowing us to deepen our relationships with customers, drive increased customer loyalty, and ultimately increase our wallet share to drive revenue growth. As I mentioned earlier, there are significant secular tailwinds driving growth in technology spending, and we will capitalize on those tailwinds to grow our business. We are winning in the market today across all segments, and we will continue to win net new customers going forward. But at the end of the day, we are a platform-driven SaaS and services company, and we will continue our investment in customer-centric innovation and purpose-built solutions. We're confident that this strategy, when executed effectively, will not only enable us to win in the marketplace, but also drive significant value for our shareholders. The keys to our right to win in our segment starts with our deep industry expertise. Our intimate understanding of how our customers' businesses operate is a truly unique differentiator. And like I've been saying, we have a great base of blue-chip customers that need a partner to simplify how tech gets done. With our unmatched scale and robust suite of platform-based products, we can deliver on our promise to run the store for our clients. And we've developed products that are purpose-built for our retail, restaurant, and digital banking customers, providing end-to-end technology solutions built on modern, API-first, microservices-enabled architectures to allow extensibility for our customers. In short, it's our ability to serve as a trusted advisor to our customers that allows us to be a trusted partner to them, which in turn creates a growing and resilient revenue stream for us. As our platform strategy evolves, it also unlocks a new and growing addressable market. Our legacy TAM alone is $25 billion, and adding new service capabilities in all segments significantly increases the size of that addressable market. Expanding payments capabilities in retail and restaurant opens that market even further. And as you'll hear from my colleagues in just a few moments, our opportunity to expand outside of the U.S. creates even more potential opportunity for us. So as you can see, we have multiple levers for growth. We currently play in very attractive segments, and we have positions that are leading in each of those segments, which creates a big addressable market for us. We have a clear strategy continuing to capture share, and that's only the beginning. So let's talk about how all this translates into value creation for our shareholders. Across all three segments we serve, our formula for growth is the same: continue to capitalize on secular growth trends by winning net new customers and gaining share, connect and onboard existing customers to the platform to drive deeper customer relationships and capture greater wallet share. And we'll improve EBITDA margin through both an ongoing shift in our business mix and continued commitment to operating efficiently. We believe this is the right formula to drive significant financial value creation, and we are fully committed to delivering on these results to compound shareholder return. So that leads to the overall financial outcomes of the strategy we just described. With the market dynamics, customer base, product innovation, and go-to-market I just described, we will deliver mid-single-digit top-line revenue growth in the range of 4%-6%, higher growth in recurring revenue, 9%-11%, all that while achieving EBITDA expansion in the low teens and improving free cash flow conversion. We'll provide more detail later in the presentation on the numbers. The bottom line is that we've created and are executing a durable, customer-centric business model that will create very healthy financial outcomes. Before we dive deeper into each business and the financials, I wanted to emphasize the key takeaways. We are a market leader in the segments we serve and have a large install base. We have the right to win and are winning in our segments as we deliver seamless and innovative products and solutions to better meet the needs of our customers. Growth will come from multiple vectors: secular market growth, winning new customers, and importantly, changing the economics of our installed base through the platform. And finally, we will see significant EBITDA margin expansion as we transform our business and streamline our operating model. This will create strong cash flows that will allow us to de-lever and invest in innovation. We're proud of where we are today and what we've accomplished over the past few years, but we truly believe that a new era of growth and profitability is in front of us, and we will continue to deliver outstanding products, solutions, and service to our customers. We are excited about the significant opportunities ahead of us, opportunities that you're about to hear more from, from some outstanding leaders. I'd like to now hand it over to Lindsay and Eric to take us through retail and restaurant. Eric, Lindsay, the floor is yours. Thank you, David. First, let me provide a quick introduction of myself. My name is Eric Schoch, EVP and President, Retail. I'll be celebrating 7 years at NCR this December, all in retail, where we have made a lot of foundational changes since 2017 and have this business on a sound foundation for growth. All of my career has been in technology, either building and monetizing products, taking them to market and selling them, or providing services to deploy, integrate, and support them. The two most notable stops along my career journey have been 7 years at Cisco Systems, leading multiple market transitions from on-premise to cloud and SaaS... and 11 years at Nortel Networks, where I was part of multiple market transitions. I am very excited to be here today to share our vision and strategy for retail and restaurants with my colleague, Lindsay Petrovic. Three key messages for you today. First, we have begun the journey to migrate our customers to the platform and shifting to a SaaS and recurring services-led business model. Second, as we leverage our deep industry expertise with our blue-chip customers and help them be successful in their digital transformation, we earn the right to add additional SaaS and service offerings, thus growing our share of wallet. And third, that results in a steadily growing recurring revenue mix, which yields a higher level of profitability. While we are in the early days of this journey, we are confident in our ability to execute the strategy. Before we jump into the strategy, though, I want to share a brief overview of our retail and restaurant businesses. This is a busy slide, so let me simplify it for you by running across the top-line metrics first. Revenues are $3.1 billion, split 70% retail and 30% restaurants, generating approximately 21% EBITDA margin, 213,000 retail sites, and 153,000 restaurant sites. On the left side of the page, in retail, we are honored to be the global leading point-of-sale software provider and call 67% of the largest 400 retailers by revenue customers, and we are celebrating our 20th year of leading the self-checkout market. Moving to the right side of the page, in our restaurant business, we are honored to be the number two point-of-sale software provider globally and boast 8 of the top 10 global restaurant chains as customers. Our portfolio is much more comprehensive than point-of-sale software and self-checkout, which I will share with you in the coming slides. We have a truly differentiated portfolio of technology and services that affords us the ability to serve these complex customers. It's a big base of customers that represents a huge opportunity. Prior to the pandemic, the retail and restaurant market was at the beginning of a market transition, and now post-pandemic, the transition has accelerated. On the left side of this page are the realities underpinning both retail and restaurant, associate, and guest needs. The labor shortage is here to stay. Consumers are demanding a blending of digital and physical experiences. Formats are converging, grocers offering fresh meals, gas stations offering freshly made pizza and subs, and consumers expect to buy online or in-store and have it delivered or pick it up, or a little bit of both. The point is, they want it their way. In order to serve those needs and win in the market, retailers and restaurants must leverage a portfolio of capabilities coupled with deep industry expertise. They must digitally transform themselves, and they are looking for a trusted advisor to guide them on their digital voyage. From consumer apps to above-the-store cloud services, in-store operations, coupled with advisory services, application management and support services, and physical endpoints. At Voyix, we possess a unique and differentiated portfolio of capabilities, coupled with deep industry expertise, in order to be a trusted enabler of their digital transformation. This is a key point. Our breadth of capabilities is a key point of competitive differentiation. When we talk about our platform, this page is a good way to think about the menu of our SaaS services. We span store operations, consumer engagement, back office and data processing, payments, omni-channel, mobile ordering, and the increasingly important third-party integration APIs. When we connect a customer to the platform, this allows them to run the store and digitally transform. Over a multi-year transformation journey, we enable our customers to realize value along the way as they consume more services. In turn, we capture more wallet share and drive ARPU growth, whether the transaction is in the store or above the store via our mobile ordering service. Our capabilities are unmatched in terms of breadth and depth. As I said in the beginning, we are much more than simply point-of-sale software and self-checkout. The way we deliver the SaaS services from the prior slide is through our platform. Our platform is founded in edge computing, coupled with cloud-native services and open APIs that are always running in a known state from the in-store edge to the cloud, built for continuous change. On the right side of the page, we combine the platform with the most comprehensive service capabilities of any retail and restaurant technology provider in the world. Again, this is another key point. It's the platform plus service capabilities that create a competitive differentiation and enable us to help our customers run the store. On this page, we outline our key investment highlights. We will leverage our market leadership position and blue-chip customer base to win the upgrade imperative by connecting customers to our SaaS platform and helping them run the store. As our customers are successful, they consume more add-on services, which in turn grows our ARPU and recurring revenue, along with expanding margin. Now that I've given you an overview of commerce, let's do a double-click into retail, and then Lindsay will take you through restaurants. There are three key reasons we win in retail. First, we couple the differentiated platform and service capabilities I just outlined and add a deep retail industry expertise, which is required to be successful with any retailer. It's not purely about the technology. As Angela Clayton at Woolworths said, "In retail, we don't suffer fools." NCR knows retail really, really well. Second, we understand time to value in digital transformation, and our platform enables that with speed and ease of implementations. And third, we provide a high return on investment, which we validate with our customers, both before and after implementation. We win because we grow with our customers and provide real value along the way and can scale. Now, let's hear from one of the U.K.'s top retailers, Sainsbury's. I'm Clodagh Moriarty, and at Sainsbury's, I'm our Chief Retail and Technology Officer. Sainsbury's is a GBP 35 billion business in the UK. We are definitely a food-centric entity and are very passionate about food. So Sainsbury's is very proud to be the number two retailer within the UK. So as we think about NCR and Sainsbury's, there's one phrase that comes to mind, which is, together, we run Sainsbury's. NCR provide us with all of our in-store trading platforms, as well as our hardware and software in our checkouts. In addition, they stretch us really hard on innovation and customer experience, and on top of all of that, they manage our service desk to ensure that we are always on and trading for our customers. At Sainsbury's, we work with a very small group of partners who we call platinum partners, and these are the group that we feel are going to be our partners in the short, medium, and long term, both in delivering the now and the future. The group that we work with, of which NCR is a key member, are in place to be able to challenge us, co-invest, co-design, and co-create. And the reason we have NCR as one of our, our major, platinum partners is because of the role they play as industry giants and being at the forefront of all technology. We are very open with them about our full strategy because together we believe that we will be able to create something even better for our customers. The reason we work with NCR in this space is that we know they are experts, innovators, and they always have our back. We have an excellent relationship with NCR and a relationship that has been building over the last number of years. But if I was to characterize it in a number of words, I would call it trusted, strategic, and multi-year. We have really ambitious plans for our business to be able to deliver for our customers, and I'm really confident that hand in glove with NCR, together, we're going to be able to deliver that. NCR Voyix thanks Sainsbury's for your partnership and continuing on our journey together. We have a clear growth strategy to capitalize on a large and growing market. A key tenet of our strategy is when we do a good job for our customers, we earn the right to do more. Put simply, happy customers buy more. As I said previously, it's the technology platform plus service capabilities that create a competitive differentiation. By connecting customers to the platform and adding services while helping them digitally transform, we grow with our customers and expand our share of wallet. Let's review about how we've executed our strategy and added value to one of our customers, Pilot Corporation. Pilot is the largest commercial fuel provider in the U.S., a customer who has a comprehensive set of in-store hardware and software. They sell a commodity, diesel fuel, and have to differentiate themselves by providing a better set of guests and associate experiences by leveraging technology. In the first year, we connect them to the platform by virtualizing all applications, both NCR Voyix and third party, to provide a single pane of glass and SaaS management of all of their applications, thus modernizing their store operations with a significant return on investment. In subsequent years, we added more capabilities from the platform, like mobile ordering, self-checkout, API toolkit, and transaction data management, loyalty, so forth and so on, all with a measurable return. The results? First, a happy customer, where we have become a trusted partner and the hub of their digital experience, resulting in $10 million annual recurring revenue and ARPU growth of 3.8x. And this is a key point. We still have the opportunity to further grow ARPU and add additional services as we scale up and out with them. Finally, let's review how we will measure this business going forward. Three key performance indicators. First, cumulative platform site conversions, ending in 2023, approximately 10%, growing 3-4x to 37% of the total population. Second, ARPU expansion. We will grow ARPU, similar to the Pilot example, over a series of cohorts, and as a general rule, in the first year of conversion, we see an increase of 1.5x, which expands to 3-4x over time, as illustrated on the previous page. Third, recurring revenue. We will grow revenue... from 46% to 55% of total revenues, yielding consistent revenue growth and expanding profitability. Well, that's it for retail. Thank you for your time today. Now over to Lindsay for restaurants. Thank you, Eric, and good morning, everyone. I'm Lindsay Petrovic, Vice President of Restaurant Product Management, and I'm thrilled to be here today to talk about our restaurant business. I joined NCR three years ago after spending seven years at American Express in various strategy, marketing, product management, and partnership development roles. But I also have prior experience in restaurant management, so I'm very familiar with the challenges that our customers face each and every day. It is hard to run a restaurant, so I'm excited to talk about what we are doing to help our customers meet their challenges head-on. Similarly to the retail business, the restaurant business is leveraging our deep industry expertise and building on our leadership position to drive seamless, customer-centric solutions to help our customers run their restaurants and drive digital transformation. So why are we positioned to win in digital transformation? Simply put, we are a market leader in this industry, and we are bringing differentiated solutions to market that enable our customers to succeed. That starts with our deep expertise. We have decades of experience serving all types of restaurants, not just in the U.S., but around the globe. This includes some of the largest global restaurant groups. This hard-won expertise has allowed us to build unique solutions and capabilities for customers that set us apart from the competition and are hard to replicate. But we don't just serve large global organizations. Our expertise extends to both enterprise customers as well as to smaller customers, many of whom may be in the early stages of their expansion programs. We are one of the few service providers who can truly scale with our customers as they grow. For example, we began working with Chipotle when they had less than 20 locations. Today, we continue to provide technology to more than 3,000 Chipotle locations around the world. Finally, we offer holistic platform solutions to help our customers run their restaurant. This includes feature-rich, configurable software that is purpose-built for the restaurant industry and supported by restaurant-grade hardware. Simply put, we are a one-stop shop for all of our customers' technology needs. We believe these end-to-end capabilities, combined with our unique expertise, create tremendous value for our customers, and as you can see from the testimonials on this page, we think they agree. But why don't we let you hear it from one of them directly? I'm Steve Kislow. I'm the President and CEO of Firebirds Wood Fired Grill. I've been with the brand now, over 20 years. Had the privilege of starting back in 2003, where I opened our third restaurant. We now have 55 restaurants. Couldn't be more excited about the growth of the brand, equally as excited today as I was over 20 years ago. We chose NCR because in order to be the best, you have to be willing to invest in the best partners. NCR provides everything that we need to continue to grow the brand. The solution that NCR offers with the Aloha POS system is cutting edge, cutting-edge technology, and it is a critical part to our business. We're also excited to roll out their service desk solution, which is gonna basically give all of our support people, as well as the people in the field, you know, kind of a one-stop shop for them to be able to handle all of their tech needs. NCR really understands our business, and they understand how to help us grow. The product is great, you know, but unless you have the right people to back that up, it doesn't matter. NCR absolutely plays a role in the future. I mean, if you think Firebirds is a 23-year-old brand, and over those 23 years, we've evolved. You know, we have plans to open 10%-12% growth over the next several years, and we need to make sure that whatever partners that we choose strategically are they're gonna be there, you know, right with us, you know, for the next several years. NCR has been around for 140 years almost, and in that century and a half, they've obviously evolved over time as well. You know, so I think we can be pretty sure that into the future, they're not going anywhere, and they're gonna be, you know, our strategic partner for years to come. I want to say thank you to the great team at Firebirds for those kind words and for trusting us to be their technology solutions partner. Now, let's turn our attention to the growth strategy for this business. While our capabilities and expertise apply to both enterprise and SMB, which is small or medium business, we recognize that each of these business segments has unique needs, and therefore, our approach to growing in each of these markets must be unique as well. Let me start with our enterprise segment, defined as restaurants with more than 50 locations, where 76% of our revenue comes from today. These are our largest customers, and they have highly complex technology needs. Oftentimes, they are running their restaurants with legacy technology provided by multiple vendors through a patchwork of applications with limited integration capabilities that simply can't deliver the seamless experiences they want to create for both their customers and their teams. For these customers, our strategy is simple: we want to help them transition to our modern, cloud-based platform... By doing so, we are able to offer them additional services built on a single, integrated, and highly extensible platform, thereby alleviating the pain point of having multiple vendor solutions. This, in turn, drives incremental revenue growth for us as we deepen our relationship with these customers and earn a greater share of their business. Ultimately, our goal is to be the single provider for all of their run the restaurant technology needs. I would point out that we are continuing to innovate to meet those needs. It's this relentless focus on meeting the needs of these large and complex customers that we believe will enable us to grow and succeed in the enterprise space going forward. In our SMB business, defined as restaurants with less than 50 locations, we will grow in a slightly different way. First, we will grow market share with a payments-led bundle of software and hardware solutions. This is consistent with how SMB customers want to buy, where we see a 90%+ attach rate of payments processing with SMB site bookings, excluding our banking channel. Second, we plan to deepen customer relationships and increase wallet share through our value-added SaaS solutions by providing payment acceptance solutions to existing customer relationships, where we are not currently their payments provider. Finally, we will retain the base through best-in-class products, combined with targeted and local customer engagement. So as you can see, we have a clear growth strategy that is aligned to the unique needs of our two customer segments. So why is our growth strategy important? It's because we believe there is enormous room to grow in the restaurant marketplace. We currently play in a very attractive segment with a large addressable market. We are already a market leader, and we have the ability to maintain and even expand on that leadership position by continuing to deliver outstanding customer service built on our deep expertise and innovative capabilities. But our addressable market grows substantially when we position ourselves to provide additional services to our customers, and we believe our Run the Restaurant strategy will allow us to capture even more of this addressable market going forward. To illustrate what this growth really looks like, let me give two examples related to two of our current customers, Buffalo Wild Wings and Prati Italia. I'll start with one of our enterprise customers, Buffalo Wild Wings. They are a fantastic customer to work with because who doesn't love B-Dubs? Historically, with our legacy offering to them, we generated approximately $2,500 per unit, and we helped them transition to our cloud-based platform. We were able to offer them additional services. Leveraging our PARful platform, they decided to add wall-to-wall service desk capabilities and later enabled mobile tablets. This was a win-win situation, allowing us to deepen our relationship with a great customer while allowing them to streamline their vendor support. By providing them with additional services, we increased our revenue per unit to $3,900 and recommitted them to the Voyix business. Going forward, we have even more opportunity to provide additional services, which could drive ARPU up 3.6 times from our original level to approximately $9,000. In the SMB space, we have a similar example with Prati Italia, where we are truly helping to run their restaurants end-to-end. Prati is an incredible local Italian restaurant in Florida. If you're ever in Jacksonville, please go check them out. This is a key example of what we want you to take away about how our SMB business will grow. Prati had a legacy solution set focused on point-of-sale technology and which also included capabilities from non-NCR providers. We took Prati on a modernization journey, where we not only modernized their current technology environment, but also added new solutions such as data analytics and our integrated acquiring and payment processing solutions. We now have a true partnership relationship with Prati, offering a robust bundle of services as part of our SaaS-based model, which drives higher recurring revenue for us. As you can see from this slide, we had tremendous success within one year of conversion, increasing the ARPU from $4,000 to $19,000, and we believe we can do more for them. Once again, you can see that all of this growth comes as we enable our customers to run their restaurants more effectively. Their success is our success, and their growth is our growth. Finally, let's spend just a minute on how we are going to track and measure this growth. This slide lays out a few of the key performance indicators that we are monitoring regularly. As you heard from David and Eric already today, and as I just described, our strategy really revolves around helping our customers transition to our cloud-based platform, and we have intentional initiatives designed to help more of our customers make this transition over time. By 2027, we expect to have roughly 40% of our customers on the platform, up from roughly 20% of our customers today. And as I mentioned earlier, adding payment sites will continue to be a growth driver for us as well. Adding payments drives an estimated $4,000 increase in ARPU in our SMB segment, and we expect to see a substantial increase in the number of payment sites going forward. A critical point on this slide is that growth of platform sites and payment sites then drives corresponding growth in recurring revenue. You can see from this slide that we expect our recurring revenue to increase by approximately 8 percentage points as a percentage of total revenue. Finally, as we continue to convert customers to the platform and provide additional services, we expect ARPU to expand over time, growing from an initial increase of 1.5 times at the point of conversion to more than 3 times growth as we continue to deepen our relationship with each customer.... So let me wrap up by reiterating what you heard from Eric at the start of this presentation. We have a strong commerce business, serving both retail and restaurant segments, and we have clear strategies to drive both revenue growth and margin expansion in each of those segments. We are transforming our customers' technology environments by delivering innovative capabilities through our modern cloud-based platform, and we are supporting those customers with unparalleled service and our deep industry expertise. As we do so, we are allowing them to create exceptional experiences for their own customers, seamlessly blending digital and physical interactions to meet the increasing expectations of their customers. All of this results in consistent revenue growth for us as we transition from a hardware-driven model to a SaaS and services-driven model. Thank you again for joining us today and for taking time to learn about NCR Voyix. As I hope you can tell, we're excited about this new era of growth and about the opportunity to continue serving our clients with excellence. With that, I'd like to turn the presentation over to Frank Hauck, who will discuss the tremendous opportunities in our digital banking business. Hello, I'm Frank Hauck, EVP and President of Digital Banking, and I'm excited to be here to tell you about our digital banking business. For the past 5 years, I've led the NCR Worldwide Banking Organization. Before I talk about where Voyix Digital Banking will be going, I think it's important to share the journey and the transformation that we started back in 2018. In 2018, this business was broken. We were losing several customers a month, the roadmap was uncommitted, the features and functionality were dated, and the platform availability was poor. The marketplace had no confidence in our long-term viability. In the fall of 2018, at the conclusion of our annual innovation conference, we committed ourselves to completely turn this business around. We replaced every functional leader, we turbocharged the R&D investment, we moved 27 million users to the cloud, we rearchitected every product, made key acquisitions, and developed over 200 partnerships with key fintech providers. The result is we have jumped from category player to category maker, with a unique and compelling offering for the digital banking market. It's a strategy we call Digital-First Banking. Our message is simple: We have completed our business transformation, and our revenue growth is now accelerating with new customers, new offerings, and new revenue streams. Our strategy for banking is uncomplicated. We want to accelerate all things digital for every client engagement. Banks are looking to transform branches to create a simple and convenient way to attract and sign up new customers, to transform branches to deliver a higher level of advisory services, to reinvent the whole concept of self-service banking with expanded transaction access and virtual assistants on demand, especially during nights and weekends. We are in a very unique position to enable banks and credit unions to accelerate their strategies to create an entirely new customer experience. Customers expect banking interactions to be straightforward and seamless in every channel. Banks are not just settling for seamless and straightforward. They come here and use words like simple and automated and intuitive and integrated. We are very fortunate. We have hundreds of customers who visit us in Atlanta every year. We typically start off every session by asking the banks and credit unions about their strategy, and this is what they share with us: We want to enable our customers to bank the way they want to bank. We want every interaction to be personalized so that people know who we are and we know who they are. We want to blur the channels. We want to let the customers start the transaction on their mobile phone and finish it wherever and however they want. We want better insight on analytics for both our business marketing efforts and for operational efficiencies. We want a single capability for both our consumer and business customers. We want to anticipate market demands like crypto and be ready to support it before our customers are actually asking for it. We listen to our customers, and we executed completely on our development roadmap to achieve each of these strategies. Now, if you like numbers, let me share with you some numbers. $570 million in revenue, 38% EBITDA margin, roughly 20 million active users, over 800 total clients, over 95% customer retention, and in the magic rule of 40 for software companies, we're well north of 45%. We serve banks and credit unions from $100 million to $100 billion in assets, including money center banks for our general services platform. We offer outstanding customer experiences across all banking channels, including world-class analytics to consistently improve user engagement. Our offering is something that's complete and unique, and we do it in a way where we provide insight for them to improve their business practices. We are the only provider offering a unified customer experience for both digital and physical channels. What's interesting is, when we look at where we're going, we have built a better mousetrap. We have built the opportunity for people to change the entire customer experience and capitalize on the marketplace opportunities that are right in front of us and right in front of them. The number one piece of feedback that we get from when people visit us is that, "We didn't know you could do this." More importantly, "We didn't know we could do this."... The opportunity to partner and engage with our clients has never been stronger. MagnifyMoney by LendingTree annually publishes the top digital banking platforms for both banks and credit unions. In the most recent list, five of the top 10 winners are PARed by Voyix digital banking technology. So we know we've got a winning solution, and it will continue to get better each and every year. Our customer base runs the gamut from very small to very large, with products unique for every segment. We have customer and category-defining digital-first offerings where every competitor essentially sells a siloed product. When we can tell our story, we win. We have built a world-class leadership team who are passionately committed to deliver a great customer experience. They have the capability to anticipate market demands, develop outstanding partnerships, execute on a roadmap, and create an onboarding experience that's literally second to none. I'd also like to stress, we have a very profitable business. We have great customer retention, and we're actively winning new customers every single day. We're broadening our solutions portfolio with channel partners every quarter. And you know what's funny? When you look at the history of banking, the 1980s were all about building more branches. The 1990s were all about building out ATMs. The 2000s were really about accelerating call center and video technology, and the 2010s were all about digital banking. Those are the siloed infrastructures that are disparate and fragmented. What Voyix does is integrate each of those silos to provide a unique and common set of experiences, and we're the only ones who can do it. So you can be asking yourselves, "Well, don't banks already have a digital banking solution?" Yes, they do. The issue is, it's just not good enough. It's not meeting the demands for account opening. It's not simple enough to acquire new customers. It's not feature-rich enough to satisfy consumer demand. It's not effective enough to create efficiencies across the board. These digital banking platforms come with minimal features because they get low investment. They are severely limited in their functionality, and it's difficult to enable a bank transformation. Our expectation is that these core bundled offerings will be the donor pool for Voyix to acquire new customers over the next 5 years. One of our differentiated offerings comes from Terafina, a company that we acquired several years ago. We got feedback from customers that when they had digital account opening, 60% of the accounts had to be reviewed by their audit committee. After Terafina, it was less than 5%. The time it took to open up an account dropped from 25 minutes to below 5 minutes. With aborted applications, Terafina enables banks to restart these applications and many times get it completed with a teller right in hand. So we are creating a net new business opportunity. It's net new incremental revenue. Our Channel Services Platform creates a whole new customer experience in a branch. It brings tellers from out behind the bars and puts them right in front. So when customers walk in the door, it's similar to going to an Apple Store. In fact, it's transforming the branch from the county jail to the Apple Store, and so they can talk about promotion suites, they can talk about card management, they can talk about anything that they need to get done. All these things can be accomplished through a tablet and a banker in a very easy interaction. So we're fortunate to have tremendous marketplace opportunities right in front of us. Every customer that we talk to is looking to transform their business, and the piece of our business that is most exciting is that we've got a motivated customer base. They come to us knowing they need to transform. They're just not sure how to transform, and so that's the standpoint. We need to make sure that we can share with them on our capabilities, because every time people come here, they typically leave here with a deeper and a wider level of partnership with Voyix technology. Our opportunity has never been greater. If you look at the sort of the traditional digital banking market, it's roughly a $6 billion total addressable market, and we're roughly $570 million of that. If you look at account opening, we've got 50 customers and a $1.5 billion opportunity. Huge upside. If you look at the Channel Services Platform, that's a technology that literally we invented. We're the market leader with a $4 billion of net new opportunity right in front of us. We typically replace technology that is 20-30 years old, such as ARGO Teller platforms. So we know when we win, it's going to be sticky, it's going to be there for a long time. It's gonna be very, very effective, and we've had big wins at U.S. Bank, PNC, and Citi because our Channel Services Platform does something no other product does. If you think about the development capabilities at each of those banks, they've got hundreds of developers, yet they came to us and said, "This is too complicated. We would like you to do this with us and provide us with a turnaround opportunity to create a net new customer experience." It's something they've been waiting for these last number of years, and they're excited to do it with us. Now, each of our business models are based on just hitting the top three circles. The international circle is a pure white space, which we're currently evaluating for investment in go-to-market resources. We see international as a tremendous upside opportunity, but all the models you're gonna hear from Brian today reflect only the top three circles, and we're excited about the growth areas in just those areas. You know, it's funny, you meet with many industry analysts and who especially evaluate the digital banking market, and they consistently tell us that we are the best-kept secret in digital banking. They told us that they're seeing a secular trend now where banks are fighting for deposits and fighting for loans, where they're looking to take share from their competitors. So we're aggressively targeting new customers across the board. We believe we can go deeper and wider with the accounts that we do business with now because generally they're happy. They like what we do. They want to put their fingerprints on our roadmap. We've moved up the food chain with them from vendor to supplier, to partner, to strategic business partner, and the opportunity for profitable growth for us has never been greater. We've got hundreds of third-party partnerships, and the fact is, when people put in our solution, leveraging our technology and our partners, it's a seamless experience. Here are some of the stats from a recent banking survey from customers post-implementation. 34% higher Net Promoter Score. Increased average customer financial products from 2.5 products to 3.8 products. 43% growth in deposits, 56% growth in loans. They typically are able to deploy new services in 4-6 weeks versus 6-8 months. We are winning business because we are executing on our strategy to deliver profitable growth. Now, let's talk about a customer client, Wintrust, who we have not had a business relationship since the past 3 years. If you're from the Midwest, you might know them as the bank of the Chicago Cubs. Their name is right on the top of the scoreboard. Underneath the Wintrust brand umbrella, there are 15 charter banks, each with its own specific name and identity. They need a better way of getting accounts open and a better customer experience through digital banking platforms. So it was not an easy development effort to pull off something to leverage each of those charter banks. We developed a Wintrust solution where each charter bank would maintain their individual look and feel while having a new, consistent technology experience across all the Wintrust subsidiaries. I'm proud to have Barb Jacklin share with you the results, what the experience was like, and the impact that we've had on Wintrust. Wintrust is a financial services company headquartered outside of Chicago. We're actually the second-largest financial services company located in or around the Chicago area, and we have asset sizes of around $53 billion. We're primarily made up of 15 community banks that are held in the name of the community that they reside in, and we're very proud to offer the sophisticated services of larger banks, but looking to serve those in the community that are looking for a larger bank alternative. NCR has really helped us obtain our goals around digital transformation, which we began in 2020. With the launch of some of NCR's software, that's really put us in a pivotal position to be able to compete with others in the Chicago market. NCR is the provider of the digital banking and account opening software that our Wintrust community banks use. Some of the challenges that we experience as being 15 separate banks are trying to create a cohesive digital experience, and so we really were looking to unify that during our digital transformation program kickoff in 2020. Having a single instance of our digital platform to serve all customers of our 15 banks became imperative as a deliverable to that program transformation. So choosing NCR's digital banking and their account opening platform really became an important part of the solution for us to continue on that journey. NCR has actually been a fantastic partner of Wintrust. We really looked for somebody who would be able to partner with us, and that showed during the implementation over the course of many months, upwards of 2 years. We really became quite the team, a partnership between Wintrust and NCR, in order to deploy these sophisticated programs. It was an amazing opportunity to work with these teams full of knowledge, and the ongoing support post-implementation has been amazing as well. That type of support is critical to the success of this type of digital transformation that Wintrust was looking to deploy. The shift to NCR Voyix is an exciting time for Wintrust to be part of as we continue this partnership of delivering best-in-class digital solutions to both our customers and our employees. Wintrust chose NCR for our digital banking needs as a result of a long-standing relationship we had with the digital banking services team, and knowing that their highly customizable and configurable application would really meet the goals of what Wintrust was trying to deliver upon for our clients. Additionally, the account opening platform that NCR offers was suggested to us through various peer conversations with banks that we had had in this space, who had recently onboarded that software and had been highly pleased with the results of it. Wintrust was able to deploy, again, that highly customizable and configurable application, and it's really delivered the type of customer and employee experience that we had expected. The white-glove consultative approach that the NCR teams use for implementing these sophisticated solutions is really key to the success. Thanks, Barb. We appreciate the partnership. We believe the user counts will grow dramatically as consumers demand a higher level of digital experience. So we believe a focus on simplicity and automation can drive increases in registered users and help turn inactive users to active users. We look to make sure that people not only use the technology, but use it regularly, and we have a strong incentive to see people go from inactive to active users. We also have seen a very high correlation of happy customers extending their partnership with Voyix Digital Banking. We are enhancing our go-to-market focus to enable add-on sales to a very loyal and very happy customer base.... In closing, we have built a rock-solid business, completely rearchitected the platform from top to bottom. We've got outstanding features and functionality. We've got unique marketplace offerings connecting both digital and physical capabilities. We have a very profitable business model, happy, loyal customer base, and world-class leadership with a passion to win every single day. We are primed to win new business from competitors, and we are really excited about where this marketplace is going in the future. So in a market that's growing and long overdue for digital transformation, we are incredibly excited about winning. We are ready to write the book on the next generation of Voyix digital banking and how we're able to completely rebuild our business, methodically disrupt our competitors, and ultimately command strong leadership of the digital banking marketplace. Now let me turn it over to Brian to have you walk us through the numbers. Thank you, Frank, and good morning, everyone. As one of the newest members of the NCR Voyix leadership team, I am thrilled to be leading our finance function, in part because of the incredible opportunities you've heard about from my colleagues. But it was more than just growth opportunities that led me to join. During the interview process, I got to meet David and many other fantastic leaders and learn about the strong culture that has been instilled across the organization. Having a strong culture and an engaged team is important, especially given the task ahead of us, and I know that from experience. In my former role as the CFO of Xerox Services, I had the privilege of helping to spin out another platform-driven services business, Conduent Incorporated, and then served as the CFO of Conduent for several years. With my Conduent experience, I saw firsthand and worked through many of the challenges that sometimes come with separating into two companies. This experience will help me navigate as we go forward. It's also important to note, with Voyix, we are separating from a position of strength and with a strong foundation, which I'll talk about in a few minutes. This foundation, along with our strategy, gives me confidence in our future. I'm excited to be working with my colleagues to lead Voyix into the next era. With that, let me tell you what I plan to cover today. First, we have a clear strategy to drive top-line growth by focusing on our customer-centric software and services business. Second, we believe that growth must be profitable growth. We have a strong focus on expanding our margins. Third, this revenue growth and margin expansion should drive significant free cash flow that will allow us to strengthen our balance sheet while also reinvesting in our business. Fourth, all of this will create optionality around capital allocation. We will take a prudent approach to allocating capital in a manner that helps accelerate growth, serve our customers, and ultimately drive value for all stakeholders. Before I get to the strategy, on this next slide, you can see we are launching Voyix from a position of strength. We have grown profitably over the last 3 years, despite the challenges created by the global pandemic, which led to the shutdown of many retail and restaurant establishments and resulted in supply chain disruption. While we can never fully anticipate macro external shocks, the growth and recovery you see here is a testament to the resiliency of our business model and to the team's ability to manage through headwinds. I would be remiss not to point out we were able to grow our revenue and improve our profit while competing in an industry where many competitors aren't profitable at all. We believe our financial strength is a competitive advantage as it provides us with capital to continue delivering great products and services to our customers. The team has also transformed in many areas over the recent years, and we are starting Voyix with strong long-term customer relationships, a committed and engaged employee base. We provide excellent service, as is reflected in our MPS scores, and we've invested in our products and services to strengthen our industry-leading position. So a strong foundation to build upon. This next slide outlines our growth strategy. You've heard a lot about this from my colleagues today, but let me summarize for you. The investments we have made and will continue to make and a high-value product mix will position Voyix for continued profitable growth. Our new structure enhances our enterprise alignment, with all three of our businesses now focused on delivering cloud-based, platform-driven solutions. Our strategic priorities are clear and well-aligned to helping us grow revenue and expand margin. We want to continue to delight our customers while helping them shift to a platform-based model that we believe will better serve their needs. We think this is a powerful service model that will not only resonate with existing customers, but will also help us win new customers as we drive market share growth. The result of all of this is expected to drive significant financial benefits for our shareholders, which I will now cover in more detail. You saw this in David's presentation earlier, but just as a reminder, here is our summary of our go-forward expectations. We expect total revenue to grow at a 4%-6% CAGR through 2027, driven by the continued shift to a SaaS and service-driven model. We expect higher margin recurring revenue to grow faster than total revenue. Recurring revenue should increase at a 9%-11% CAGR, with recurring revenue expanding to approximately 65% of total revenue in 2027 versus 55% today. Lower margin, non-recurring revenue, which is mostly hardware and related installation service, will decline at a low single-digit CAGR. This intentional mix shift to recurring revenue, along with cost discipline, are the drivers of our margin expansion. So we expect the bottom line will grow faster than the top line, with adjusted EBITDA growing 10%-12% CAGR through 2027, driving 400-500 basis points of margin expansion. The result of all of this revenue and EBITDA expansion will be strong free cash flow. In 2024, we expect free cash flow conversion to be 25%-30% of adjusted EBITDA. This will include some one-time separation-related cash outflows. We then expect higher free cash flow each year as we grow our EBITDA and then improve our cash conversion ratio by roughly 10-15 percentage points. Most of this improvement will come from incremental margin expansion, improved collections, and being disciplined around our capital investments. So how do we plan to measure our progress going forward? Well, we have already shared a number of KPIs in the earlier presentations. The intent here is to illustrate our profitable growth drivers at a very basic level. I would point out that these KPIs focus on recurring revenue only, which is our key profit driver going forward. As you can see from the slide, our recurring revenue growth can largely be thought of as two components. First, the number of customer sites for our retail and restaurants and the number of active users for digital banking. Second, the average revenue that we expect to generate from each of those sites or users, which we refer to as ARPU. We have clear plans in place for both of these elements. In retail, we have 213,000 total sites that generate an ARPU of $5,300. We intend to increase the number of sites to 225,000 in 2027, while increasing the ARPU to $6,700. The largest driver of the increase in ARPU will come from shifting more of our customers to our platform, which drives incremental services and payments. As you've heard earlier, when we connect to the platform, we expect ARPU to increase 3-4 times over time. In 2027, we anticipate having 37% of our sites connected to the platform. We currently have a strong backlog supporting this. In restaurants, we have 153,000 total sites that generate an ARPU of $3,600. We intend to increase the sites to 159,000 in 2027, while increasing the ARPU to $5,000. Like retail, the largest driver of the increase in ARPU will come from shifting more of our customers to our platform. This drives incremental services and payments. In 2027, we anticipate having 40% of our sites connected to the platform. Our restaurant business is further along in connecting customers to our platform, and their progress gives us confidence that retail will follow a similar path. In digital banking, we have 20 million active users generating an ARPU of around $28. We intend to increase the number of users to 32 million in 2027, while increasing the ARPU to $30. As you can see, in digital banking, growth is primarily driven by an increase in clients and users through strong retention and adding new logos, along with modest growth in ARPU. Our team is laser-focused on executing this strategy and driving these KPIs. This next slide outlines our revenue growth targets. As we discussed, we expect total revenue to grow at a 4%-6% CAGR through 2027. As we think about the timing, we expect growth to remain somewhat muted for this year and next year, with revenue growing low single-digit. Both years are impacted by lower non-recurring revenue in our commerce businesses due to two primary reasons. First, lower hardware sales due to pandemic and supply chain timing issues, creating a tough 2022 compare. Second, we anticipate continuing an intentional shift from upfront revenue to recurring revenue. This creates a near-term headwind for growth. For example, in the first half of 2023, we shifted roughly $50 million of one-time revenue to future recurring revenue. However, starting in 2025, we expect to see an acceleration in revenue growth as the shift from upfront to recurring revenue starts to normalize in our run rate and as we realize more benefits from customers who have converted to our platform. This, along with continued strong digital banking growth, drives a higher CAGR. From a growth rate perspective, digital banking is expected to be our fastest-growing business, followed by restaurants and then retail. Turning to EBITDA, we expect adjusted EBITDA growth to surpass revenue growth as we expand margin, with total adjusted EBITDA growing at a 10%-12% CAGR through 2027, with growth rates improving over time. 2023 is expected to grow 4%-6%, with margin estimated at 17%. For 2024, we expect adjusted EBITDA margin to be flat as we digest new standalone expenses related to the spin-off. However, as we move into 2025, we expect to see an acceleration in margin expansion and adjusted EBITDA growth. Much of this expansion will be driven by mix shift, including a higher earnings contribution from digital banking, as well as ongoing product mix shift from hardware to software and services. Additionally, we expect to see margin benefit from streamlining our product design and product lifecycle and as we drive greater efficiency in our operating model. When we combine the expected cash flow generation with a favorable debt structure, we expect to have ample ability to continue investing in our business, while also bringing our leverage ratio down over time. To be more specific, we expect to have a net leverage ratio of roughly 3.5 turns at the end of this year, and we are targeting to be at 3 turns by the end of 2024. Our long-term range is between 2 and 3 turns. We believe this is the appropriate range, given our stable, recurring revenue model. I would point out, most of the Voyix debt is coming from the legacy NCR business, which means that more than 90% of our debt is locked in at attractive interest rates. Our weighted average cost of debt is roughly 5.4%. With that in mind, this improvement in our leverage ratio will come from anticipated expansion in EBITDA, increasing the cash balance modestly, and potential debt paydown focused on our $200 million term loan, which will be our highest cost of debt. Over time, we may opportunistically look at taking out all or a portion of our convertible preferred, which although not part of our leverage ratio, impacts our fully diluted share count. Overall, we feel good about having the right structure in place to support the growth and capital allocation priorities of the business. So what are the Voyix capital allocation priorities? First, we're gonna continue investing to support the long-term growth of the business, and we believe we can do this with a CapEx investment in the range of 6%-7% of our annual revenue. This will likely be closer to the lower end of the range over time. The majority of this investment will be in software and will allow us to continue to develop new platform services, which will support growth and customer retention. Next, we're gonna optimize our balance sheet, govern these investments to improve return on invested capital. We will also continue to look at opportunistic tuck-in acquisitions to accelerate our growth. Potential acquisition targets are likely to expand our existing solution set and support buy versus build decisions. Once our leverage ratio is within our target range, we will look to share repurchases with the intent of offsetting the annual dilution from our incentive comp plan. We would also consider additional repurchases above and beyond that as our excess cash flow allows. Also important, the way we have organized gives us flexibility to unlock value through considering strategic options with our portfolio. So to wrap up, I hope it's clear our team is confident in our ability to achieve our financial targets. We have a clear strategy to drive top-line growth by focusing on our customer-centric software and services business. We intend to drive growth in value-added products and services to further expand both revenue and margins, and we plan to strengthen our balance sheet through ongoing free cash flow generation and prudent capital deployment. We are excited with what this new era holds, and we believe that we have the right strategy to strengthen our market-leading position while driving value for all stakeholders. Thank you for your time today, and now I will turn it back to David for closing remarks. Thank you. Thanks, Brian, and thank you, Eric, Lindsay, and Frank, for helping me tell the Voyix story today. As I hope you can tell from our presentations this morning, we have a tremendous opportunity in each of our businesses, and we are excited about the future of Voyix. Each of our businesses operating from a position of strength today. We're the market leader when it comes to providing digital commerce solutions to the retail, restaurant, and digital banking industries. We have a large base of blue-chip customers with whom we have deep and lasting relationships, and we have the products and services needed to continue serving those customers with excellence, with end-to-end solutions to help them run their stores, restaurants, and branches more effectively. As you've heard us say throughout this presentation, their success is our success, and their growth fuels our growth. Perhaps that's the most exciting part of this story. You see, we're already seeing the benefits of that growth strategy that I described to you earlier. When we help our customers transition from their legacy technology environments to a modern, cloud-based platform, which lets them create better experiences for their customers, we earn the right to deepen our relationship with those customers, which dramatically shifts the economics of our business. Our recurring revenue increases as we shift to a SaaS-based operating model. Our margins expand as our business mix shifts, and we generate significantly higher cash flows that we can both redeploy to grow our business and compound shareholder returns. And I'm convinced there's no better time to execute this strategy than right now. You heard from Eric, Lindsay, and Frank about the upgrade imperative that exists in each of our segments. That imperative, combined with the increasing speed of technology change, creates a tailwind for our business that we believe will propel us forward over the next several years. So we're excited about where we are today, and we're confident in the future of this amazing organization. The transformation we've experienced over the last few years under the leadership of Mike and Owen has truly been exceptional. As we look to the future, I'm convinced that our new organizational structure will provide us with the strategic focus and operational agility to execute the strategy we've laid out today to partner with our customers like never before. This truly is a new era for our company, an era that I believe will deliver exceptional growth, profitability, and value creation for our shareholders. So as we embark on this next phase of growth as a company, I want to invite you all with us on this journey. I hope you'll agree that the story we've described today is a compelling one, both in terms of our opportunity to better serve our customers and an opportunity to generate significant compounding value for our shareholders. Thank you for taking your time to hear our story today, and thank you for your interest in our company, and I hope you'll join us as we enter this new era of growth and profitability as Voyix. With that, I invite you to watch this short video as we prepare to take your questions. Perfect. Thanks again. We've got the speakers up here on stage, ready to take questions from the audience. I'd like to ask Jim, our moderator, to read us the instructions for questions, please. I would be happy to. Thank you. Our first question from our phone audience today comes from the line of Matt Somerville at D.A. Davidson. Please go ahead. Hi, this is Keegan Cox on for Matt Somerville. Thank you so much for taking our question. No problem. I was wondering if we could get a little bit more depth on the segment-level guidance for that 4%-6% revenue and, well, also the EBITDA guidance as well? Yeah. Sure. So if we think about the growth rates, they're modest in 2024 as we continue to have about a 2-point headwind from converting upfront revenue to recurring revenue, and that's impacting our commerce business. So as we think about 2024, we expect digital banking to grow high single-digit, low double-digit, and we expect the commerce businesses to be flat to low single-digit growth as we absorb that headwind. When we get to 2025 and beyond, that headwind normalizes in our run rate, and we expect digital banking to continue strong double-digit, low double-digit growth, and the commerce businesses will start to grow in hospitality 4%-6%, and then in retail, we expect 3%-5%, with growth rates improving over time. When we exit 2027, we expect to be at 8% growth, and from there, we, we can see improvements. Then from an EBITDA perspective, we're going to improve margin 400-500 basis points. It's coming from mix shift and cost takeout, and we expect we can get margin improvement in all the segments. In digital banking, it'll come more from operating leverage as they, they have strong growth. A lot of the cost takeout will be around our commerce business. As Brian said, we have strong demand in all three businesses with strong backlog built up to drive that. Once we get through that knothole of the bit of the headwind and the transition in some of those businesses, it'll become a tailwind in each of those businesses, too, as we grow out. I think the other important point is those tailwinds are already in place. We're connecting our customers to our platform. We're upselling and cross-selling, and digital banking is exiting the year with strong growth rates. So those things will continue and help us improve as we go forward. So it's a very clear path to growth. Great. Thank you. And how might some of these... It looks like they came down a little bit from the December 2021 outlook. I was curious to see what kind of the key drivers might be different from there. Yeah. We're modeling based on what we see in the current trends, and then, as I said, we have the headwind from converting upfront to recurring, but by the time we exit, we're growing 8%, close to the high end of that range, and from there, we think we can grow faster. We're still growing EBITDA 10%-12%, and that's higher than revenue's growing, and free cash flow conversion is 40%-45%, which is the range that was given, and we thought Voyix would be a little lower than that range than the overall company. But we actually, with our debt structure, discipline around our capital investments, and continued improvement in collections, we think we can actually be at that 40%-45% conversion. So that's how we're looking at it. Great. Thank you so much. We'll hear next from the line of Erik Woodring at Morgan Stanley. Good morning, guys. Thank you for taking my question. I guess maybe my first question is, you know, we heard a lot from today's presentation about platform conversion, gaining wallet share, kind of up- and cross-selling more SaaS and services by our buyer, and clearly a much larger TAM opportunity than your legacy market. So I guess maybe my question is, you know, when we think about this transition, what is new, what is different from your prior strategy as part of the broader NCR, and why is standalone NCR Voyix better prepared to capitalize on these opportunities? And then I have a follow-up. Thanks. Yeah, I'll grab the last end of that question about why we think Voyix is positioned. Really, when we think about this separation that we've been working really hard to deliver to the market, it's really one about focus. So it's hard to argue that focused companies don't perform better. So we're really going to be laser-focused on this platform, SaaS-based company that we've created, looking at reinvesting back into the platform, building the capabilities required to take the customers on the journey that you described. And all three of these markets, too, they're facing very similar challenges. They're all working to differentiate their customer and associate experience, and technology's at the core of that. And so they're all spending in these areas. So we believe the secular market growth rates will be strong. We believe the conversion to the platform, building on our strong base, and we're still winning in the market with the products that we've deployed. So, you know, we believe the focus is the key to what we're driving with Voyix. Perfect. That's really helpful. Thanks. And then, maybe bigger picture again, I realize the focus today is on digital commerce and digital banking. Maybe there's an argument to be made that digital banking isn't as, maybe necessarily, like, synergistic with digital commerce. So, how are you guys thinking about digital banking fitting in with digital commerce? And, perhaps more importantly, would you be open to monetizing the asset, be there, you know, a, a sale or a spin to kind of centralize and focus Voyix even more just on digital commerce? And that's it for me. Thanks so much. Okay, thank you. So the, as I described this, the similarities of the businesses, they're all platform-led SaaS businesses, so they're going to have very similar investment profiles. They're all fighting, again, to differentiate their own brand and markets, to create different experiences for their customers, as in the digital banking space, the fight for deposits and other transactions are happening in that space. You're right. We recognize that digital banking, it's a growing business, it's a profitable business, and in a segment we're the leader in. And so we believe, like you described, that it's undervalued, and we will find ways to unlock the value of that business. Great. Thanks so much, guys. Our next question comes from the line of Kartik Mehta at Northcoast Research. Hey, good morning. David, on the revenue guidance you gave, is all of that organic, or are you anticipating some inorganic revenue growth as well in that guidance? Yeah. Hey, Kartik. All of that modeling in the current view that we provided is all organic, so we've not... Inorganic investment or inorganic growth would be on top of, atop of those models. And one other point, when we think of acquisitions- Looking at kind of what you've done and seeing a kind of 1%-2% revenue growth in '24 and now anticipating 8%, 8% a couple years out, just seems like a huge hurdle. I know you've given some thoughts as to how you can get there, but I don't know if you can give any more granularity as to how you get there. Yeah, I'll, I'll provide a little bit of color to that. The. So as we described, we've been on this journey for, for many years, building out the, the products and the platform. So as Frank said in his prepared remarks, the, the digital banking portfolio has been completely revamped and is, is ready for prime time. So that business, we believe, given our current backlog, will get to that high single-digit, low double-digit growth rate as we go into next year. On the restaurant and retail side of the businesses, we've been making very similar investments, and we're winning share in the, in the marketplace, and we're making the conversion of our legacy customer base to the modern cloud-based platform. As we do that, as we showed in the examples on the screen with Pilot Flying J, or Pilot Corporation, I should say, they changed their name- and Prati and Buffalo Wild Wings, that we're seeing that revenue and ARPU expansion when we connect to the platform. So as that becomes less of a headwind in terms of making that one-time conversion, Brian described the $50 million in the first half of the year, Kartik, that's what will start to create a little bit of that build-up effect and turn into a tailwind that we'll start to see that growth. We, the number of platform sites sold is higher than the number converted, so we have strong backlog in both retail and restaurant and in the banking business. Thank you very much. I really appreciate it. Thanks, Kartik. Ian Zaffino at Oppenheimer, your line is open. Okay, great. Thank you very much. The question would be on the headwind that you referenced as you're switching more to SaaS. Is that headwind coming from just reduced hardware sales to the customers buying actually less points, but then taking more software? Is there anything else going on there? Is that the right understanding of that? And then, I guess, as a follow-up, what I would ask is, you know, NCR has always been known for its very strong hardware, and hardware had always been what was leading a lot of the success on the software side. If there is less hardware, you know, how do you then compete in that environment, and you think your software is at the level that it could compete on its own as a pure software offering? Thanks. Yeah, so the hardware piece of our business is about 30% of the overall business, and it's an important part of the business, as it is the endpoint that associates and consumers will use to interact with the software. But the true differentiation is in our software, as you described. So I'll kind of start at the end of that question with, we have a platform set of capabilities today that's winning in the marketplace. So that's what gives us the positive momentum and the faith that we believe in the overall strategy. When we look at it moving forward, the hardware sales are... We, you know, we believe will be flat to maybe a little bit down, following secular market trends and hardware, notwithstanding some of the self-checkout hardware that we will sell, where we see market growth in self-checkout. But largely, that one-time revenue will be flat to declining in the planning horizon that we described. When you dig then beneath that, the headwinds are really as we move from our older world of when we were still selling perpetual software license, and we had customers that had long rights to use on perpetual software and maintenance only, making that conversion as we win the upgrade imperative and switch them to the SaaS contract vehicle to consume new services from the platform, that's what starts to create that growth. So that's that headwind as we move from the one-time, in many cases, perpetual to that longer-term platform and SaaS contract. Okay, thank you very much. Jim or Michael, any more questions? Apologies, gentlemen. My microphone was turned off. We do have a question coming from Charles Nabhan at Stephens. Please go ahead, sir. Your line is open. Mr. Navan, can you hear us, sir? You may have your line on mute. Yes. Could you hear me okay? Yeah. Yep. Yes, sir. Welcome. Restaurant data analytics is becoming a greater and greater topic in the restaurant tech space, with restaurants trying to understand their consumers better and gain an edge over their competition. With that in mind, I was wondering if you could talk about your solutions in that area and how you're addressing demand for data analytics solutions. Yeah, I'll jump in. I'll start, and then I'll have Lindsay give a little more color in the restaurant space. The platform itself, so you think about all the transactions that would flow through our platform as we connect our customers. Online ordering is a good example, whether you're using our online ordering application or a third party or your own. All of the orders would flow through our platform. So you think about the data that would come through the platform, both from a customer ordering, inventory, pricing, all of the availability, all the way through to order status, and then operationally, the data that would flow through the platform that would then turn into a tool for managers to drive overall restaurant performance. But Lindsay, why don't you describe a little bit of our portfolio in that space? Yeah, absolutely. So this is a space where we feel really good about our solutions, and we're continuing to innovate. You know, as David talked about, the importance of data, really helping managers and corporate staff of our customers make smarter decisions, is a place where we have current products our platform supports, and we're continuing to grow in that space. You saw in the prepared remarks, a quote from Wendy's, who is leveraging real-time data from the platform across their entire estate to really help drive those business decisions for their team. That's a really great example of a large customer using those solutions, and we continue to grow. We also leverage data and data analytics very heavily in our service desk solution. So that's where we're the first call of our customers. If there's any issue in the restaurant, data PARs that solution set, whether or not it's predicting when there may be an issue, so we can be faster at responding or even prioritizing the resolution of incidents, that and resolving them in the order that provide more value for our customers. You know, Starbucks is a great user of that solution for their European locations. So a lot of strong history there and continued innovation. Got it. I appreciate that color. And as a follow-up, I wanted to double-click on M&A and get some specifics around areas where you would look to add inorganically, as well as whether the current leverage is would preclude you from doing M&A until you get to that 2-3 times target range. Charles, yeah, Brian walked through the numbers in the presentation. If you look at our current leverage coming out of the spin, it will be about 3.5 turns. Our priorities for reinvesting cash is really to delever as number one priority. The second will be to invest in products. And when I say invest in products, that takes us to your question specifically around M&A. When we get to M&A at that level, it will become a build versus buy. Can we buy something that we would build that would give us faster time to market and faster time to revenue on the platform? Currently, it would be tuck-in acquisitions that would be nicely paired with the platform that could just be add-ons to grow that ARPU that we just described and drive additional services into our customer base. But that would be it. It would be technology tuck-ins across all three businesses. You've seen us do that really well across the businesses, and we've had some good partnerships in that space, too, that allow us to create new service capabilities as well. Got it. Thank you. Our final question in the queue today is from Mayank Tandon at Needham. Please go ahead. Thank you. I hope you can hear me okay. I have a question on the restaurant side. I wanted to see if, Lindsay, you could talk about competition that you face from some of the players, like Toast, on the POS side, and other players on the POS side. Talk about win rate, how you compete with them, how to defend in terms of competition from those companies that are being very aggressive in the market today? ... Yeah, thanks for that question. Let me frame sort of the, the larger issue here. You know, as I talked about in my prepared remarks, we play in a, a really attractive, and growing market, and we expect to continue to win in that market and grow at least as fast or faster than the market grows. The market is fragmented, so there's room for multiple scale players. In our model, you know, we were conservative in site growth, meaning we don't have to aggressively acquire sites to hit the numbers that Brian outlined. But we are winning in the market and adding new sites in SMB. We are winning in the market and adding new sites in enterprise, and we're doing so profitably, which has been a focus for us. I feel really good about our continued ability to compete in the space going forward. And Lindsay, staying on the restaurant- Go ahead. Sorry. Okay, I'll continue with my question. My question was, like, the extension of your platform into other technical verticals like hotels, cruise lines, people. Is that topic that's on the table right now, or is that maybe more of a long-term opportunity? Yeah, thanks for that question. You know, we're really focused on restaurants right now. We have some integrations into hotels just to provide that capability for the restaurants and hotels. But for the near term, we'll be focused on restaurants. Yeah, we think that restaurant market is a very attractive market for us, and we serve the large end of that enterprise space. As you saw in our addressable market, we've got a lot of room to grow, adding payments, adding new service capabilities, expanding capabilities that allow us to grow with our customers and provide real value as they grow. I mean, they're asking us for more and more. So right now we're going to stay very focused on the restaurant segment. Sorry, just one point of clarification. The math that you shared, does that include a new logo growth, or is that just from conversion? It's- the long-term model? Can you repeat that? You're clipping a little bit there at the beginning. Let me try that again. Okay. I was wondering if you could clarify if the model for 2027, the restaurant side, includes any new logo growth, or is that all- Yeah, it includes both new logo and upselling and cross-selling for our existing customers. But like Lindsay said, on sites, we are conservative in what we're modeling, and it's an upside opportunity to the overall projections. Thanks, Brian. Thank you. Perfect. I think that's it for questions, so I'll, I'll just close. I. Again, I wanna thank everybody for attending and, and listening in to the, to the great story that we have to tell as we launch NCR Voyix from the iconic NCR, our brand. As you, as you heard from all of the team, we have a great leadership team that are experts in the industries that we serve, and we have an amazing set of employees behind this great leadership team, that we have all the confidence in the world that we're gonna be able to deliver to win net new customers in the market, where we have amazing products that are winning today. We've got an install base of customers that we can continue to leverage to win, and, and as we described, we're gonna change the economic model. As we do that, we're going to continue to make investments to increase customer satisfaction and NPS along that journey, where, as Eric said, "Happy customers buy more." Then we're going to be operationally more efficient as we get to this focused business model, that will not only allow us to compete better in the markets that we serve, it will also allow us to expand profitability significantly. We are excited about the journey that we're on as Voyix, and we believe that it's a great name to own, and we believe we have a great story to tell, and we're helping our customers. So thank you all. I look forward to meeting with you all in person.