NCR Voyix Q1 2024: Mixed Bag With Revenue Dip, Profit Beat

NCR Voyix Corporation VYX reported a first-quarter FY24 revenue decline of 6% Y/Y to $862 million, beating the consensus of $859.3 million.

Software & Services revenue rose 2% Y/Y to $666 million. Segment ARR stood at $2.1 billion, an increase of 5% Y/Y, with Software ARR of $1.3 billion (+6% Y/Y) in the quarter.

Adjusted EBITDA declined 3% Y/Y to $120 million. Adjusted EPS was $0.13, beating the consensus of $0.12.

Outlook: Voyix reiterated FY24 revenue of $3.60 billion-$3.70 billion, vs. consensus of $3.633 billion, and adjusted EBITDA of $632 million – $657 million.

As of March-end, cash and cash equivalents of $246 million.

David Wilkinson, NCR Voyix CEO, said, “We see opportunities across all of our segments to enhance our existing customer relationships, expand our market share and deliver market-leading technology and best-in-class services, the combination of which will drive profitable growth.”

In a separate release, the company stated its Board of Directors appointed James G. Kelly to the role of Executive Chair, effective immediately. Kelly previously served as Independent Chair.

Kevin Reddy, an existing director, has been appointed the company’s lead independent director.

Price Action: VYX shares are down 1.74% at $12.40 at the last check Thursday.

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