NCR Atleos Stock NATL
NCR Atleos is a financial technology company specializing in ATM and self-service banking infrastructure. NCR Atleos stock (NATL): Quarterly and annual results since 2023 from Quarterly Report and SEC filings: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 08/2026, quarterly reporting. Stock analysis by NadirAlpha. NCR Atleos stock (NATL): listed on NYSE. NadirAlpha has evaluated 25 original documents, cross-checked every figure automatically and linked each to its source; sources as of 08/2026. Revenue Q2 2026: USD 1.1 billion (+0% year on year). Latest reported (Q2 2026): Network Managed Units, LTM ARPU, Revenue from ATMaaS. Latest reading: Margin expanding, Acquisition, Regulation.
AI-generated report · not investment advice · figures extracted automatically; please verify against the linked original more
NCR Atleos Current Status
Where NCR Atleos stands after the report for Q2 2026: what changed in revenue, earnings and outlook, written editorially from the original report. NadirAlpha methodology
Assessment by NadirAlpha, as of Q2 2026.
“NCR Atleos delivered another strong quarter and a very good first half of 2026. Our service-led growth initiatives and investment in product innovation are encouraging financial institutions and retailers to choose our differentiated and comprehensive offering to meet their evolving self-service needs. In the first half, service and software business paced our growth and ATM hardware revenue was steady at historically high 2025 levels. Productivity programs that outpaced war-related pressures and tariff relief allowed profit margins to improve significantly.”
“The regulatory and administrative processes required to complete our proposed transaction with The Brink's Company are progressing and we now anticipate an accelerated timeline to close early in the first quarter of 2027. At the end of June, both Brink's shareholders and NCR Atleos stockholders overwhelmingly voted to approve the transaction. This marked a significant step toward bringing together two great companies in a merger that will expand financial access, provide innovative solutions to our customers, and offer exciting opportunities to our employees.”
NCR Atleos Stock: Key Figures ($ million)
NadirAlpha shows fiscal years, half-years and quarters of NCR Atleos one below the other, most recently Q2 2026; every figure is clickable and leads to raw value, location and source. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Fiscal years
| Period | Revenue | Op. income | Net income | EPS ($) | EPS adj. ($) | EBITDA (adj.) | OCF | Source |
|---|---|---|---|---|---|---|---|---|
| FY2025 | 4,354 | 478 | 162 | 2.14 | 4.13 | 830 | 356 | 122 |
| FY2024 | 4,305 | 437 | 80 | 1.08 | 3.34° | 781 | 344 | 12 |
| FY2023 | 4,186 | 263 | -150 | -2.12 | 4.21 | 732 | 355 | 5 |
Quarters
| Period | Published | Revenue | Op. income | Op. income (adj.) | Net income | EPS ($) | EPS adj. ($) | EBITDA (adj.) | FCF | Cash | Net Debt | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2* | 2026-08-05 | 1,103 | 156 | – | 65 | 0.86 | 1.49 | 254 | 4 | 429 | 2,366 | 125 |
| 2026-Q1* | 2026-05-06 | 1,043 | 84 | – | 22 | 0.29 | 0.65 | 172 | -36 | 433 | 2,350 | 122 |
| 2025-Q4* | 2026-02-26 | 1,152 | 156 | – | 83 | 1.09 | 1.49 | 236 | 194 | 456 | 2,302 | 120 |
| 2025-Q3* | 2025-11-05 | 1,121 | 110 | – | 26 | 0.34 | 1.09 | 219 | -5 | 412 | 2,457 | 18 |
| 2025-Q2* | 2025-08-06 | 1,102 | 119 | 159 | 39 | 0.52 | 0.89 | 203 | -46 | 355 | 2,542 | 16 |
| 2025-Q1* | 2025-05-07 | 979 | 93 | 132 | 14 | 0.19 | 0.64 | 172 | 94 | 352 | 2,562 | 14 |
| 2024-Q4* | 2025-03-03 | 1,108 | 149 | – | 41 | 0.55 | 1.17 | 229 | 62 | 419 | 2,521 | 12 |
| 2024-Q3* | 2024-11-12 | 1,073 | 114 | – | 21 | 0.28 | 0.89 | 205 | 85 | 395 | 2,599 | 10 |
| 2024-Q2* | 2024-08-13 | 1,078 | 106 | 153 | 27 | 0.37 | 0.85 | 197 | -14 | 374 | 2,631 | 8 |
| 2024-Q1* | 2024-05-13 | 1,046 | 68 | 116 | -9 | -0.13 | 0.41 | 160 | 124 | 343 | 2,594 | 6 |
| 2023-Q4* | 2024-02-14 | 1,096 | 30 | 150 | -175 | -2.48 | 0.64 | 178 | -81~ | 339 | 2,675 | 104 |
| 2023-Q3* | 2023-11-14 | 1,065 | 90 | – | -61 | -0.86 | 1.77 | 210 | 99 | 423 | – | 2 |
| 2023-Q2* | 2023-09-05 | 1,040 | 79 | 161 | 52 | 0.74 | 0.75 | 198 | 73 | 337 | 448 | 1 |
| 2023-Q1* | 2024-05-13 | 985 | 64 | 112 | 34 | 0.48 | 1.05 | 146 | 105 | 282 | – | 6 |
NCR Atleos Balance Sheet & Cash Flow ($ million)
NadirAlpha places cash, debt, operating cash flow and investments of NCR Atleos side by side per period, balance sheet values as of the period end, flow items for the period. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology
Fiscal years
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | 2026-02-26 | 456 | 2,758 | 2,302 | 277 | 356 | 117 | 239 | 122 |
| FY2024 | 2025-03-03 | 419 | 2,940 | 2,521 | 287 | 344 | 87 | 257 | 12 |
| FY2023 | 2024-03-26 | 339 | 3,014 | 2,675 | 254 | 355 | 108 | 247 | 5 |
Quarters
| Period | Published | Cash | Debt | Net Debt | D&A | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q2 | 2026-08-05 | 429 | 2,795 | 2,366 | 72 | 30 | 26 | 4 | 125 |
| 2026-Q1 | 2026-05-06 | 433 | 2,783 | 2,350 | 70 | -9 | 27 | -36 | 122 |
| 2025-Q4 | 2026-02-26 | 456 | 2,758 | 2,302 | 66 | 231 | 37 | 194 | 120 |
| 2025-Q3 | 2025-11-05 | 412 | 2,869 | 2,457 | 70 | 25 | 30 | -5 | 18 |
| 2025-Q2 | 2025-08-06 | 355 | 2,897 | 2,542 | 72 | -25 | 21 | -46 | 16 |
| 2025-Q1 | 2025-05-07 | 352 | 2,914 | 2,562 | 69 | 123 | 29 | 94 | 14 |
| 2024-Q4 | 2025-03-03 | 419 | 2,940 | 2,521 | 69 | 80 | 18 | 62 | 12 |
| 2024-Q3 | 2024-11-12 | 395 | 2,994 | 2,599 | 74 | 107 | 22 | 85 | 10 |
| 2024-Q2 | 2024-08-13 | 374 | 3,005 | 2,631 | 71 | 9 | 23 | -14 | 8 |
| 2024-Q1 | 2024-05-13 | 343 | 2,937 | 2,594 | 73 | 148 | 24 | 124 | 6 |
| 2023-Q4 | 2024-02-14 | 339 | 3,014 | 2,675 | 90 | -43~ | 38 | -81~ | 104 |
| 2023-Q3 | 2023-11-14 | 423 | – | – | 58 | 147 | 48 | 99 | 2 |
| 2023-Q2 | 2023-09-05 | 337 | 785 | 448 | 53 | 80 | 7 | 73 | 1 |
| 2023-Q1 | 2024-05-13 | 282 | – | – | 53 | 120 | 15 | 105 | 6 |
NCR Atleos Guidance Tracking (latest per metric/period · 5/20)
NadirAlpha records 20 guidance statements of NCR Atleos neutrally: annual and quarterly targets, direction of change and outcome as a dot with legend, with no estimate of our own. NadirAlpha methodology
Actuals: revenue in $m · EPS in $ per share · ratios in %
Direction: confirmedinitiatedraised Verdict: beatin linemiss
| For period | Guided on | Metric | Guided | Actual | Verdict | Direction | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | 2025-05-07 | Revenue growth (YoY) | 1–3% | – | – | 18 | |
| FY2025 | 2025-03-03 | EPS (non-GAAP) | 21–27% | 4.13 | 18 | ||
| FY2025 | 2025-03-03 | EBITDA (adjusted) | 7–10% | 830 | – | 18 | |
| FY2025 | 2025-03-03 | Core Revenue | 3–6% | – | – | 18 | |
| FY2025 | 2025-03-03 | Adjusted FCF (unrestricted) | 260–300 | – | – | 18 | |
| FY2024 | 2024-11-12 | Revenue | ~4,300 | 4,305 | 11 | ||
| FY2024 | 2024-11-12 | EPS (non-GAAP) | ~3.12 | 3.34 | 11 | ||
| FY2024 | 2024-11-12 | EBITDA (adjusted) | ~785 | – | – | 11 | |
| FY2024 | 2024-11-12 | Adjusted FCF (unrestricted) | ~205 | – | – | 11 | |
| 2024-Q3 | 2024-08-13 | Revenue | 1,045–1,075 | 1,073 | 8 | ||
| 2024-Q3 | 2024-08-13 | EPS (non-GAAP) | 0.71–0.81 | 0.89 | 8 | ||
| 2024-Q3 | 2024-08-13 | EBITDA (adjusted) | 195–205 | 205 | 8 | ||
| 2024-Q3 | 2024-08-13 | Adjusted FCF (unrestricted) | 40–60 | – | – | 8 | |
| 2024-Q2 | 2024-05-13 | Revenue | 1,060–1,090 | 1,078 | 6 | ||
| 2024-Q2 | 2024-05-13 | EPS (non-GAAP) | 0.63–0.73 | 0.85 | 6 | ||
| 2024-Q2 | 2024-05-13 | EBITDA (adjusted) | 180–190 | 197 | 6 | ||
| 2024-Q2 | 2024-05-13 | Adjusted FCF (unrestricted) | 0–25 | – | – | 6 | |
| 2024-Q1 | 2024-02-14 | Revenue | 1,000–1,050 | 1,046 | 4 | ||
| 2024-Q1 | 2024-02-14 | EPS (non-GAAP) | 0.3–0.4 | 0.41 | 4 | ||
| 2024-Q1 | 2024-02-14 | EBITDA (adjusted) | 150–160 | 160 | 4 |
NCR Atleos Stock: Price & Chart
Interactive price chart of NCR Atleos stock (TradingView) and the trend of key figures from the core tables; the chart loads only after a click and then connects to TradingView. NadirAlpha methodology
Daily candles with news and earnings markers. Loads only on click.
NCR Atleos Event Timeline
This timeline collects the material events of NCR Atleos from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements, grouped by quarter. NadirAlpha methodology
2026 · 9 events
Gross margin expanded 510 basis points to 28.0% in Q2, driven by tariff refunds, favorable software and services mix, and productivity initiatives 24
Both NCR Atleos and Brink's shareholders overwhelmingly approved the merger on June 30, 2026; closing timeline accelerated to early Q1 2027 25
CBP began accepting IEEPA tariff refund submissions from April 20, 2026, following a February 20 U.S. Supreme Court ruling; majority of claims accepted, directly benefiting Q2 margins 24
“During the quarter, we continued the global rollout of our AI-enabled dispatch solution across Europe, delivering improved efficiency, customer satisfaction and cost savings. The Europe rollout follows the successful implementation of our AI dispatch solution last year in North America.”
“Atleos exits 2025 with industry leading service level metrics, a higher customer net promoter score, and an increasing employee engagement score. The separation transaction is complete, and we believe the headwinds from tariff volatility, immigration payroll changes, and higher interest rates are behind us. Our unique combination of a shared financial utility network and an integrated self-service banking solution offers the most efficient, reliable, and comprehensive solution for retail and financial institutions that are looking to outsource their digital-to-physical ecosystem.”
NCR Atleos signed merger agreement with The Brink's Company; stockholders to receive $30.00 cash plus 0.1574 Brink's shares per share, closing targeted Q1 2027 subject to regulatory approvals 23
Total revenue rose 7% to USD 1,043 million, driven by 12% Self-Service Banking growth with ATMaaS up 30% and hardware up 23%; 72% of revenue from recurring streams 22
Gross margin decreased to 22.4% from 23.7%, driven by higher tariffs, increased vault cash expense, and higher component manufacturing costs, partially offset by favorable software and services mix 22
Net income attributable to Atleos increased 103% to $162M for full year 2025; adjusted EBITDA grew 6% to $830M with margin expanding 90 basis points to 19.1% 20
Adjusted free cash flow increased 35% to $326M for full year 2025, with adjusted free cash flow conversion expanding to 39% 20
Entered definitive agreement to be acquired by The Brink's Company in a cash and stock transaction; $200M share repurchase program suspended in connection with pending acquisition 20
2025 · 13 events
Net income more than doubled YoY (80.0 to USD 162.0 million, +102%). 20
Net income more than doubled YoY (41.0 to USD 83.0 million, +102%). 120
Operating cash flow reached USD 231.0 million vs USD 80.0 million in 2024-Q4 (×2.9). 120
“NCR Atleos delivered another strong quarter with financial results at the higher end of expectations as financial institutions and retailers continue to select our differentiated and comprehensive self-service banking offering. ATM hardware revenue grew an exceptional 24% year over year, further extending our leading global installed base and driving meaningful, multi-year recurring revenue from attached services and licensed software. Our ATMaaS business increased nearly 40% and added its first customers in Latin America and the Middle East. We continue to set the benchmark for service excellence with industry-leading service metrics and our customers have rewarded that performance with both a 30% improvement to our most recent Net Promoter Score and more of their business. Whether financial institutions and retailers choose to join our shared financial utility network or to outsource their self-service banking services, Atleos offers the most efficient, most comprehensive, and most reliable solution for customers.”
Adjusted EBITDA margin expanded 40 basis points to 19.5%; gross margin improved to 24.2% from 23.9%, driven by improved hardware mix and ATMaaS growth, partially offset by higher vault cash interest expense 19
Company identified immaterial misstatements in previously issued financial statements, resulting in overstatement of pre-tax income of approximately $18M in 2023 and $14M in 2024 18
Revenue grew 4% to $1.12B; Self-Service Banking segment up 11% with ATM as a Service revenue growth accelerating to 37% year-over-year 18
“Atleos has made great progress since separating from our former parent six quarters ago as evidenced by solid financial results, a strengthening balance sheet and the continued successful execution of our services-led strategy. As we approach the leverage goals we identified at the time of separation, and in anticipation of steadily increasing free cash flow, we expect a redeployment strategy that balances returning cash to shareholders, accretive growth investments and further reduction in net leverage. To that end, I am pleased to announce that our Board of Directors has authorized a $200 million share repurchase program with a two year duration.”
Board authorized $200M share repurchase program representing approximately 10% of market capitalization, effective for 24 months 17
Total revenue returned to growth at +2% to $1.10B; Self-Service Banking segment grew 9% year-over-year driven by ATM outsourcing services growth and hardware demand 16
Adjusted EBITDA increased 4% to $205M with margin expanding 40 basis points to 18.6% 16
“Our early execution, coupled with diligent contingency planning, have us on track to meet our objectives for the year despite the uncertain global economic environment caused by the proposed tariffs and their follow-on effects. We continue to believe that our original annual guidance ranges are appropriate.”
Total revenue declined 7% to $980M, primarily due to planned reduction in Voyix commercial agreements and strategic shift to recurring ATM as a Service solutions 15
Gross margin expanded 300 basis points to 24.0%, driven by higher-margin software and services mix and cost mitigation actions 15
Net income improved to $17M from a loss of $8M in the prior year, reflecting operational improvements and cost management 14
Full year net income attributable to Atleos was $91M in 2024 compared to a loss of $134M in 2023, an improvement of $225M 12
2024 · 17 events
Net income turned positive for the first time after 1 negative fiscal year (-150.0 to +USD 80.0 million). 12
“I appreciate the tremendous effort and dedication of the almost 20,000 Atleos employees around the world that made 2024 a success”
Q4 Adjusted EBITDA grew 23% to $219M; full year Adjusted EBITDA grew 7% to $781M 13
Q4 gross margin reached 26.8%, up from 18.0% in Q4 2023; full year gross margin improved to 23.9% from 22.3% in 2023 13
FY2025 guidance initiated: revenue growth of 1-3% constant currency, Adjusted EBITDA growth of 7-10%, Non-GAAP EPS growth of 21-27%, Adjusted free cash flow-unrestricted $260-$300M 13
Operating income more than doubled YoY (30.0 to USD 149.0 million, +397%). 12
“I am grateful to the 20,000 Atleos employees around the world that enabled this performance”
Total revenue increased 1% in Q3 2024, continuing deceleration; service revenue reached a new high of $843M 11
Gross margin decreased to 24.3% from 25.1% in Q3 2023, primarily due to lower margins on commercial agreements with Voyix and higher vault cash rental costs from increased interest rates 10
Full year 2024 guidance reaffirmed; Non-GAAP EPS guidance moved to high end of range at approximately $3.12 11
“Given the strong first-half financial results, a robust sales pipeline, and building commercial momentum, we believe the Company is on track to achieve its goals this year and we reaffirm and narrow consolidated guidance ranges for full year 2024 targets.”
NCR Voyix announced intention to move manufacturing services to another party and further reduce maintenance services 9
Total revenue grew 4% to $1.08B, decelerating from Q1's 6%; recurring revenue grew 9% to $793M, representing 73.4% of total revenue 8
Full year 2024 guidance reaffirmed and narrowed; Adjusted free cash flow-unrestricted guidance updated to $190-$220M from prior range of $170-$230M 8
Net income turned positive for the first time after 3 negative periods (-9.0 to +USD 27.0 million). 8
“Considering the momentum in our businesses, progress on key strategic initiatives, and continued favorable market dynamics for our solutions, we reaffirm our previously published 2024 financial targets. Going forward, Atleos stands ready with its leading position in self-service banking and the largest and most efficient ATM network in the world to advance the transformation of retail banking and facilitate digital to physical transactions for everyone, everywhere.”
Adjusted EBITDA grew 11% to $162M from $146M in Q1 2023, with Network Adjusted EBITDA up 15% driven by higher transaction volumes, favorable mix, and cost optimization 6 7
Q1 2024 was the first full quarter as a standalone publicly traded company following the October 16, 2023 separation from NCR Corporation 6
Revenue grew 6% to $1.05B; recurring revenue grew 7% to a record $763M, representing 72.7% of total revenue 6
Adjusted EBITDA increased 7% to $732 million from $685 million in 2022, driven by margin expansion and cost mitigation across segments 5
Net loss of $134 million in 2023 versus net income of $108 million in 2022; swing attributable to $170 million in separation-related costs and $239 million income tax expense from spin-off restructuring, not operational deterioration 5
2023 · 12 events
“The fourth quarter was a strong start for Atleos as a separate company, and a great finish to the year. Our core businesses performed exceptionally well, with financial results in line with the projections made for the separation transaction. Execution was outstanding, as we simultaneously completed the split from legacy NCR Corporation and achieved our operating objectives.”
Q4 Adjusted EBITDA of $178 million, up 7% year-over-year after normalizing for separation-related impacts 4
Full year 2024 targets initiated: Revenue $4.2-$4.4 billion and Adjusted EBITDA $770-$800 million 4
Completed separation from NCR Corporation on October 16, 2023; began trading as NATL on NYSE; more than 20,000 ATM-as-a-Service units active at year-end 4
Operating income more than halved YoY (90.0 to USD 30.0 million, -67%). 104
“Across the first three quarters of 2023, the Atleos team simultaneously executed against our financial commitments, advanced our strategy, and completed a transformational separation. Our momentum is consistent with the expectations we described to investors as we prepared for the separation. I appreciate the exceptional commitment and effort that our employees demonstrated. We are energized by our launch as a pure-play public company and will focus all of our resources on meeting our ATM customers' needs and extending our leadership position in digital-to-physical transactions.”
Q3 revenue of $1.1 billion increased 4% year-over-year; recurring revenue of $765 million increased 6% year-over-year, accelerating from the 1% total revenue growth reported through 9M 2023 3
Gross margin improved to 25.1% from 23.4% in Q3 prior year, driven by fuel and component cost reductions 2
Issued $1,350 million 9.500% senior secured notes due 2029 and entered into $750 million term loan facility in connection with spin-off 2
Adjusted EBITDA increased 36% for Q2 driven by cost reductions in fuel, shipping, and component parts, partially offset by higher vault cash rental costs 1
Gross margin improved from 22.1% to 23.8% for Q2, driven by cost mitigation in fuel, shipping, and component parts 1
ATM-as-a-Service units grew from 4,454 to 18,007; recurring revenue reached 70.2% of total revenue 1
NCR Atleos Business Model
The NCR Atleos business model in brief: products, customers and revenue sources as the company itself describes them in its reports. NadirAlpha methodology
NCR Atleos is a financial technology company specializing in ATM and self-service banking infrastructure. The company operates through two primary segments: Self-Service Banking, which provides ATM hardware, software, and managed services, including ATM-as-a-Service (ATMaaS) arrangements, to banks, credit unions, and retailers; and Network, which operates the Allpoint surcharge-free ATM network and earns access fees from participating financial institutions whose cardholders transact at retail ATM locations. Revenue is generated through equipment sales, software licensing, maintenance contracts, managed-service fees, and network access fees. Since its spin-off from NCR Corporation in October 2023, NCR Atleos has focused on transitioning customers toward recurring-revenue models. Recurring revenue represented 70% of Q2 2026 revenue at $776 million 25. A proposed acquisition by The Brink's Company, approved by both companies' shareholders in June 2026, would combine Atleos's ATM network and managed-service operations with Brink's cash management and logistics capabilities, with closing targeted for early Q1 2027 25.
NCR Atleos Stock: Share-Price Drivers
What determines the business trajectory of NCR Atleos according to management, summarised from the reports up to Q2 2026. NadirAlpha methodology
The pending combination with Brink's reframes the equity story while the underlying business is being repositioned around subscription-style ATMaaS and Allpoint network arrangements that carry higher recurring revenue and margins 25
Announced proposed merger/acquisition still pending completion; a binary event for the shares rather than an operating trend 25 24 23 20
Continued ATMaaS market expansion and new arrangements, including sale-leaseback of owned ATMs to fund the shift and an AI-enabled dispatch rollout in Europe, indicate the offering is gaining traction 18 22 25
Largest segment by revenue with higher period-over-period revenue and a mid-20s% operating margin, supported by self-service banking technology initiatives 25 16
Network carries the highest segment margin (~30%) and is being expanded through the largest convenience retailers and deposit-accepting functionality, plus planned bitcoin/cashless card access via the LibertyX platform 25 21
Smallest segment with revenue lower year on year and the weakest margin, a drag rather than a growth contributor 19 25
Term Loan B refinancing and a share repurchase program alongside a still-elevated net debt position; deleveraging progressing gradually 21 19
Sector trend: Sector demand is shifting from owned ATM hardware toward outsourced, recurring ATM-as-a-Service and network-access models, which is lifting the mix toward higher-margin Network and Self-Service Banking revenue while legacy T&T volumes decline 25 18.
NCR Atleos Revenue by Type (as of 2026-Q2 · USD million · 4/5)
Revenue of NCR Atleos split by segment or product type exactly as the company itself reports it; segment totals can deviate from group revenue. NadirAlpha methodology
| Segment | Since | Revenue | Growth | Margin | Source |
|---|---|---|---|---|---|
| Period 2026-H1 (6M) | |||||
| Self-Service Banking | 2022-Q4 | 1,438 | 6% | 25.8% | 25 |
| Network | 2022-Q4 | 617 | – | 30.8% | 25 |
| T&T | 2022-Q4 | 81 | 4% | 17.3% | 25 |
| Period 2025-Q3 (9M) | |||||
| Telecommunications & Technology | 2024-Q3 | 124 | -16% | – | 19 |
| Period 2023-Q2 (6M) | |||||
| Payments & Network | 2023-Q2 | 609 | 4% | 27.3% | 1 |
NCR Atleos Products & announcements (16/18 active+recent)
18 product announcements of NCR Atleos since 2023, grouped by year; active means still mentioned in the most recent reports, nothing is deleted. NadirAlpha methodology
Status: PlannedLaunched
| Product/Line | Since | Status | Source |
|---|---|---|---|
| 2026 | |||
| Expansion of Allpoint network through largest convenience retailers | 2026-06 | 25 | |
| AI-enabled dispatch solution Europe rollout | 2026-03 | 22 | |
| 2025 | |||
| Share repurchase program | 2025-07 | 21 | |
| Software platform cloud-based microservices and APIs | 2025-06 | 17 | |
| Self-service banking technology initiatives | 2025-06 | 16 | |
| Sale-leaseback of owned ATMs for ATMaaS and Network arrangements | 2025-06 | 17 | |
| Digital currency solutions for ATM transactions | 2025-06 | 17 | |
| ATM outsourcing services expansion (2×) | 2025-06 | 16 | |
| Planned transition to ATM as a Service solutions | 2025-03 | 15 | |
| Fourth Quarter and Full Year 2024 Results | 2025-03 | 13 | |
| ATM as a Service growth initiative | 2025-03 | 14 | |
| Cashless card access capabilities for ATMs | 2025 | 21 | |
| Cash deposit functionality for prepaid reloads and billpay | 2025 | 21 | |
| Bitcoin capabilities through LibertyX platform | 2025 | 21 | |
| Allpoint network expansion with deposit accepting functionality | 2025 | 21 | |
| ATMaaS expansion (3×) | 2025 | 18 | |
| 2024 | |||
| Senior Secured Credit Facility Refinancing | 2024-10 | 21 | |
| ATM hardware with recycling, tap and other technologies | 2024-09 | 11 | |
NCR Atleos Transactions & Events (12)
Transactions of NCR Atleos since 2023: acquisitions, disposals, agreements and regulation, deliberately including smaller items; purchase prices only when the company names them. NadirAlpha methodology
Acquisitions by NCR Atleos
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2026 | |||
| Merger with Brink's Company (3×) | 2026-02 | Completed | 25 |
| Acquisition by The Brink's Company | 2026-02 | Completed | 20 |
| 2023 | |||
| Spin-off from NCR (6×) | 2023-10 | Completed | 1 |
| 2022 | |||
| LibertyX acquisition | 2022-01 | Completed | 5 |
| 2021 | |||
| Cardtronics acquisition | 2021 | Completed | 9 |
Divestitures and exits by NCR Atleos
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2025 | |||
| Sale-Leaseback of ATM Units | 2025-09 | Divested | 19 |
| Divestiture of Non-Core Business | 2025-09 | Divested | 19 |
| Planned removal of underperforming machines from network managed unit fleet | 2025-03 | Divested | 15 |
| 2024 | |||
| Completion of manufacturing services for Voyix | 2024-12 | Divested | 15 |
| Voyix to reduce manufacturing services and maintenance services | 2024-08 | Divested | 10 |
| 2023 | |||
| Closure of operations in Russia | 2023-12 | Divested | 5 |
Regulation and legislation at NCR Atleos
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| 2026 | |||
| Tariff refund claims under IEEPA | 2026-04 | Regulation | 24 |
NCR Atleos Risks (120 since the annual report of 2026-02-27, 324 tracked in total)
Risk factors NCR Atleos itself names in its reports, merged by topic across periods, with category, first mention and source; new risks of the latest period come first. NadirAlpha methodology
Category: CustomersLegalMacroFinancialRegulatoryCompetitionPeopleSupply chainCyberStrategyTechnologyGeopoliticsESG
| Risk | Category | Last reported |
|---|---|---|
| NCR Atleos: first mention in 10-Q quarterly report of 2026-08-05 (2026-Q2), source 24 | ||
| Network segment revenue impacted by lower demand for crypto transactions | = | |
| Atleos-Brink's merger expected to close early Q1 2027 subject to customary closing conditions and regulatory approvals | = | |
| Substantial foreign operations expose company to foreign currency exchange rate fluctuations | = | |
| Geopolitical conflicts with Iran and similar tensions could negatively impact product delivery and increase fuel costs | = | |
| NCR Atleos: first mention in 10-Q quarterly report of 2024-11-12 (2024-Q3), source 10 | ||
| Company subject to material debt obligations including $1.35 billion in senior secured notes due 2029 and $1.24 billion in term loan facilities | 2026-Q2 2026-08-05 24 | |
| NCR Atleos: first mention in 10-Q quarterly report of 2024-05-14 (2024-Q1), source 7 | ||
| Interest rate fluctuations impact ATM vault cash rental expenses and variable-rate debt obligations | 2026-Q2 2026-08-05 24 | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2026-08-05 (2026-H1), source 25 | ||
| Failure to obtain regulatory approvals in timely manner or failure to satisfy other closing conditions | = | |
| Net leverage ratio of 2.69x as of June 30, 2026 indicates debt levels relative to EBITDA | = | |
| Risk of material weaknesses in internal control over financial reporting affecting perceived reliability of financial statements | = | |
| Strategy and technology transforming business model creates competitive risks | = | |
| NCR Atleos: first mention in 10-Q quarterly report of 2026-05-07 (2026-Q1), source 23 | ||
| Atleos incurring and will continue to incur significant non-recurring transaction costs for Mergers. | = | |
| Atleos may be required to pay $145 million termination fee if Merger Agreement terminated under certain circumstances. | = | |
| Shareholder lawsuits filed in connection with Mergers could delay or prevent closing. | = | |
| Merger completion requires approval by Atleos stockholders and Brink's shareholders. | = | |
| Merger completion requires HSR Act expiration, foreign antitrust approvals, money transmitter licenses. | = | |
| ATM vault cash rental expense sensitive to interest rate changes; 100 bps increase would impact approximately $10 million quarterly. | = | |
| Large transactions with customers often without collateral create exposure to significant losses if default occurs. | = | |
| Prolonged conflict with Iran could negatively impact ability to deliver products and services in certain markets and increase transportation costs. | = | |
| Uncertainty about Mergers may impair ability to attract, retain, and motivate key personnel. | = | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2026-05-06 (2026-Q1), source 22 | ||
| Net tariff and higher memory cost impacts of approximately $11 million absorbed in quarter | = | |
| Regulatory approval and ability to consummate proposed merger with Brink's by Q1 2027 | = | |
| Cash flow sufficiency to service indebtedness and meet financial obligations | = | |
| Ability to maintain competitive position in self-service banking market | = | |
| NCR Atleos: first mention in 10-K annual report of 2026-02-27 (FY2025), source 21 | ||
| Tariff refunds benefited margins but future tariff impacts and assessment risks remain | 2026-H1 2026-08-05 25 | |
| Collects cardholder, Bitcoin, personal data; cyberattacks increasing in frequency/sophistication; remediation costs may be material | = | |
| GDPR fines up to €20M or 4% global revenue; BIPA $1,000 to $5,000 per biometric scan; evolving privacy laws create compliance burden | = | |
| Insufficient cash flows to service indebtedness could require alternative financing. | = | |
| $2.798B indebtedness plus $447M available credit facility; debt limits flexibility, increases vulnerability to rate hikes and downturn | = | |
| Net deferred tax assets of $429M subject to recoverability; valuation allowances may increase if future taxable income insufficient | = | |
| IRS could determine distribution taxable if facts, assumptions, representations violated; stockholders and Voyix face material tax liability | = | |
| $200M trade receivables facility contains termination events tied to receivables performance; termination impacts liquidity | = | |
| Atleos jointly and severally liable for NCR consolidated tax group liabilities; Voyix inability to pay could require Atleos to pay entire amount | = | |
| Proliferation of electronic payment methods and reduced cash usage could decline ATM transaction volumes. | = | |
| Reduction in ATM and transaction fees by networks or customer pressure could adversely impact revenues. | = | |
| UK cash-in-transit operations expose company to theft, personal injury claims, worker compensation; insurance adequacy uncertain | = | |
| Depend on single sources for services (Accenture transaction processing, Intel chips, Microsoft OS); supplier failure could delay shipments | = | |
| Outsourcing and subcontracting arrangements introduce nonperformance risk; smaller suppliers have IT/data integrity issues | = | |
| Operations in CA/TX/FL/India vulnerable to wildfires, hurricanes, floods, extreme temps; EV transition costly with infrastructure constraints | = | |
| EV transition and carbon economy may create lithium/copper scarcity; increased product redesign and end-of-life recycling costs | = | |
| Currency exchange rate fluctuations could reduce demand and generate translation losses. | = | |
| Business vulnerable to natural disasters, war, pandemics, civil unrest; workforce safety and supply chain challenges ongoing | = | |
| Atleos indemnifies Voyix for assumed liabilities; payments could be material (environmental, tax-free distribution impact) | = | |
| MGCL dividend tests applied; no assurance court would reach same conclusion on spin-off compliance | = | |
| Indemnification obligations to Voyix for retained environmental remediation obligations at Kalamazoo River site. | = | |
| Certain officers/directors own Voyix equity from NCR positions; continuing ownership creates potential conflicts if both pursue same opportunities | = | |
| Spin-off could be challenged under state/federal fraudulent conveyance laws; creditors may seek to void distribution, return assets | = | |
| Patent portfolio exposed to infringement claims by practicing entities and non-practicing entities ('patent trolls'); defense costs and damages can be material | = | |
| Patents expensive and time-consuming; trade secrets vulnerable to disclosure; third parties may develop similar innovations independently | = | |
| Failure to protect against IP infringement or disputes could result in legal liabilities. | = | |
| Material weakness in controls over revenue/receivables/liabilities remediated as of Dec 31, 2025; future material weaknesses possible | = | |
| Tax-free treatment of spin-off could be jeopardized if distribution fails to qualify under IRC sections 368 and 355. | = | |
| Tax matters agreement restricts stock issuance, acquisitions, equity capital raising for two years post-spin-off; limits strategic initiatives | = | |
| Many offerings rely on third-party innovations; inability to obtain/maintain licenses would adversely impact business | = | |
| Voyix indemnification for certain liabilities may be insufficient; insurers may deny coverage; third parties may hold Atleos liable | = | |
| Voyix agreements (separation, tax matters, IP, employee matters, commercial) provide transition services; Voyix non-performance creates operational risk | = | |
| Europe's Cross Border Adjustment Mechanism and low-carbon steel production may drive cascading ATM component price increases | = | |
| Customer-facing businesses subject to CFPB/FTC oversight and state/foreign consumer protection requirements; exposure increases with payments expansion | = | |
| Cryptocurrency regulation evolving; future regulations may require product changes, restrict offerings, increase compliance costs | = | |
| Unsuccessful execution of ATM as a Service strategy and software-services transition could negatively impact revenue and margin projections. | = | |
| Sophisticated products may contain undetected defects; defects could delay installations, increase support costs, expose to liability | = | |
| Rapid technological innovations and regulatory changes including AI regulations could extend development cycles. | = | |
| Operations outside U.S. expose business to foreign currency exchange rate fluctuations affecting results. | = | |
| Rating agency downgrade would increase cost of debt financing and reduce capital access | = | |
| International operations subject to FCPA and OFAC sanctions; non-compliance results in criminal/civil penalties | = | |
| Charter authorizes issuance of preferred stock with superior rights; could dilute voting power or value of common stock | = | |
| Substantial sales of Atleos stock or perception thereof may depress stock price; index fund dispositions possible if excluded from indices | = | |
| Share repurchase program not mandatory; timing, amount, price discretionary; debt covenants may limit repurchases; program may be suspended | = | |
| Difficulty finding comparable companies; valuation challenges may cause trading price fluctuations | = | |
| Diverse, complex, rapidly changing laws on governance, environment, product safety, import/export, antitrust, anti-corruption, labor | = | |
| CSRD, SEC climate rules, California Climate Acts increase compliance costs; failure results in monetary penalties | = | |
| Trade tariff changes and reciprocal tariffs impact import costs, though 2025 impact was immaterial. | = | |
| OECD BEPS and evolving tax laws may increase effective tax rate; transfer pricing audits ongoing; outcomes unpredictable | = | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2026-02-26 (FY2025), source 20 | ||
| Pending acquisition by The Brink's Company subject to closing conditions and regulatory approvals. | = | |
| Acquisition transaction requires regulatory approval and other customary closing conditions. | = | |
| Net leverage ratio of 2.77x as of December 31, 2025 indicates ongoing debt obligations. | = | |
| NCR Atleos: first mention in 10-Q quarterly report of 2025-11-06 (2025-Q3), source 19 | ||
| Substantial foreign operations expose to currency fluctuations; hedging program provides partial protection. | 2026-Q1 2026-05-07 23 | |
| Global macroeconomic pressures including interest rates, logistics costs, and geopolitical conflicts pose business risks. | FY2025 2026-02-27 21 | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2025-11-05 (2025-Q3), source 18 | ||
| U.S. immigration policy changes negatively impacted Network segment payroll card and currency conversion transactions. | FY2025 2026-02-27 21 | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2025-08-06 (2025-Q2), source 16 | ||
| Executive officers and directors may have conflicts of interest from previous Voyix positions | = | |
| Atleos may be liable for Voyix tax liabilities if Voyix fails to pay | = | |
| Products or services may infringe intellectual property rights of others | = | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2025-05-07 (2025-Q1), source 14 | ||
| Higher tariffs and elevated component costs expected to continue affecting gross margin throughout remainder of year. | 2026-Q1 2026-05-07 23 | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2025-03-03 (2024-Q4), source 13 | ||
| Historical and ongoing manufacturing activities subject company to environmental exposures including Kalamazoo River matter. | FY2025 2026-02-27 21 | |
| NCR Atleos: first mention in 10-K annual report of 2025-03-03 (FY2024), source 12 | ||
| Significant asset write-downs could adversely impact operating results and financial condition. | FY2025 2026-02-27 21 | |
| Significant vault cash in ATMs subject to loss, theft, civil unrest; cash rental agreements terminable; access constraints could materially impact operations | FY2025 2026-02-27 21 | |
| Reliance on suppliers for components and services could affect ability to bring products to market timely. | FY2025 2026-02-27 21 | |
| Political conditions, regulations and economic uncertainty in emerging markets could adversely impact international expansion plans. | FY2025 2026-02-27 21 | |
| Senior secured credit agreement and indentures restrict incurrence of debt, asset sales, investments, stock repurchases, dividends | FY2025 2026-02-27 21 | |
| Non-compliance with EFT network rules and regulations could result in fines and operational disruptions. | FY2025 2026-02-27 21 | |
| Changes to interchange rates set by EFT networks could reduce future revenues. | FY2025 2026-02-27 21 | |
| Loss of bank sponsorship for EFT networks could disrupt ATM operations. | FY2025 2026-02-27 21 | |
| Failure to develop and introduce new solutions in rapidly changing environment could impair competitive position and market acceptance. | FY2025 2026-02-27 21 | |
| Stock price may fluctuate due to earnings, analyst coverage, operational results, guidance misses, competitive performance, market conditions | FY2025 2026-02-27 21 | |
| Subject to proceedings, lawsuits, claims on environment, labor, IP, data privacy, payments, cryptocurrency, product liability | FY2025 2026-02-27 21 | |
| NCR Atleos: first mention in 10-Q quarterly report of 2024-08-14 (2024-Q2), source 9 | ||
| Obligation to indemnify Voyix for material taxes and various transaction agreements including potential unfulfilled indemnifications | 2026-H1 2026-08-05 25 | |
| Failures of third-party suppliers and ability to maintain relationships | 2026-Q1 2026-05-06 22 | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2024-05-13 (2024-Q1), source 6 | ||
| Evolving government regulations including cryptocurrency and virtual currency rules could impact business operations. | FY2025 2026-02-27 21 | |
| NCR Atleos: first mention in 10-K annual report of 2024-03-26 (FY2023), source 5 | ||
| Data protection and cybersecurity issues could adversely impact business operations and customer trust. | FY2025 2026-02-27 21 | |
| Facilities subject to environmental laws; investigatory and remedial activities underway; Voyix share liabilities uncertain | FY2025 2026-02-27 21 | |
| Pension liabilities could adversely impact liquidity and financial condition. | FY2025 2026-02-27 21 | |
| U.S. pension plan underfunded by $248M as of Dec 31, 2025; ongoing cash contribution obligations; actuarial assumptions subject to market risk | FY2025 2026-02-27 21 | |
| Variable-rate borrowings expose to interest rate risk; capital market volatility could impair refinancing; variable rates increase debt service | FY2025 2026-02-27 21 | |
| Bylaws restrict stockholder lawsuits to specific Maryland courts, limiting forum choice and potentially deterring litigation. | FY2025 2026-02-27 21 | |
| Failure to protect intellectual property could weaken competitive position. | FY2025 2026-02-27 21 | |
| Company subject to various legal proceedings including environmental remediation and pre-Spin-off litigation matters. | FY2025 2026-02-27 21 | |
| Intense competition from large technology companies and new entrants, including alternative payment mechanisms and digital banking solutions. | FY2025 2026-02-27 21 | |
| 52% of borrowings on variable rate basis exposed to interest rate movements; 100 bps increase would impact expense approximately $4 million quarterly. | 2026-Q1 2026-05-07 23 | |
| Senior secured credit facility includes consolidated leverage ratio covenant not to exceed 4.25 to 1.00. | FY2025 2026-02-27 21 | |
| Business is seasonal with lower revenue and transactions in Q1; winter weather impacts ATM transaction volumes. | FY2025 2026-02-27 21 | |
| Charter, bylaws, Maryland law contain provisions deterring coercive takeovers; may delay/prevent beneficial acquisitions | FY2025 2026-02-27 21 | |
| Board discretion on dividend timing, amount, payment; no guarantee of future dividends | FY2025 2026-02-27 21 | |
| Ownership may be diluted by equity issuances for acquisitions, capital transactions, employee awards | FY2025 2026-02-27 21 | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2024-02-14 (2023-Q4), source 4 | ||
| Level of indebtedness and cash flow sufficiency to service debt obligations remain ongoing risks | 2026-H1 2026-08-05 25 | |
| Allegations or claims of infringement on intellectual property rights | 2026-Q1 2026-05-06 22 | |
| NCR Atleos: first mention in 8-K-EX99.1 earnings release of 2023-11-14 (2023-Q3), source 3 | ||
| Domestic and global economic downturns could reduce customer capital expenditures and payment processing volumes. | FY2025 2026-02-27 21 | |
| Business execution and strategy advancement require ability to hire and retain qualified personnel. | FY2025 2026-02-27 21 | |
| Risk of allegations that products or services infringe intellectual property rights of others. | 2025-Q3 2025-11-06 19 | |
| NCR Atleos: first mention in 10-Q quarterly report of 2023-11-14 (2023-Q3), source 2 | ||
| Allpoint expansion dependent on largest convenience retailers and prepaid programs | 2026-H1 2026-08-05 25 | |
| Variable rate debt and vault cash expenses expose business to interest rate movements. | FY2025 2026-02-27 21 | |
| NCR Atleos: first mention in 10-Q quarterly report of 2023-09-05 (2023-Q2), source 1 | ||
| Key employee retention and ability to attract talented employees | 2026-Q1 2026-05-06 22 | |
NCR Atleos Reported KPIs (as disclosed) (183)
NadirAlpha collects 183 reported KPIs of NCR Atleos from the filings up to Q2 2026; the definition comes from the company, period and source are stated at every value. NadirAlpha methodology
| KPI | Value / change | Source |
|---|---|---|
| NCR Atleos, published 2026-08-05, period 2026-Q2 | ||
| Revenue from ATMaaS | 77 | 24 |
| Recurring Revenue as pct SSB | 58% | 24 |
| Network Managed Units | 77.0 | 24 |
| LTM ARPU | 16.0 | 24 |
| Annualized Recurring Revenue SSB | 1,721 | 24 |
| NCR Atleos, published 2026-08-05, period 2026-H1 | ||
| Revenue from ATMaaS Arrangements | 77 | 25 |
| Recurring Revenue as a Percent of Revenue | 70% | 25 |
| Recurring Revenue as % of SSB Revenue | 58% | 25 |
| Recurring Revenue | 776 | 25 |
| Network Managed Units | 77.0 | 25 |
| LTM ARPU | 16.0 | 25 |
| Annualized Recurring Revenue | 1,721 | 25 |
| NCR Atleos, published 2026-05-07, period 2026-Q1 | ||
| Recurring Revenue | 754 | 23 |
| Network Managed Units | 77.7 | 23 |
| LTM ARPU | 16.0 | 23 |
| ARR | 1,699 | 23 |
| NCR Atleos, published 2026-05-06, period 2026-Q1 | ||
| Revenue from ATMaaS Arrangements | 74 | 22 |
| Recurring Revenue as a Percent of Revenue | 72% | 22 |
| Recurring Revenue as % of SSB Revenue | 61% | 22 |
| Recurring Revenue | 754 | 22 |
| Network Managed Units | 77.7 | 22 |
| Net leverage ratio | 2.83x | 22 |
| LTM ARPU | 16.0 | 22 |
| Annualized recurring revenue | 1,699 | 22 |
| All other products and services | 289 | 22 |
| Adjusted net debt | 2,350 | 22 |
| NCR Atleos, published 2026-02-27, period FY2025 | ||
| Service ATMs countries | 65 countries | 21 |
| R&D expenses | 70 million | 21 |
| R&D expenses | 62 million | 21 |
| R&D expenses | 80 million | 21 |
| Patents US | approximately 500 | 21 |
| International revenue pct | 55% | 21 |
| Code of conduct training completion | 100% | 21 |
| CDP climate score | B | 21 |
| ATM networks countries | 13 countries | 21 |
| ATM network locations | approximately 78,000 | 21 |
| Recurring Revenue | 3075 | 21 |
| Network Managed Units | 78.4 | 21 |
| LTM ARPU | 16.2 | 21 |
| ATMaaS revenue | 258 | 21 |
| ARR Self Service Banking | 1714 | 21 |
| NCR Atleos, published 2026-02-26, period FY2025 | ||
| Revenue from ATMaaS Arrangements | 72 | 20 |
| Network Managed Units | 78.4 | 20 |
| LTM ARPU | 16.2 | 20 |
| Annualized recurring revenue | 1,714 | 20 |
| NCR Atleos, published 2025-11-06, period 2025-Q3 | ||
| Recurring revenue pct SSB | 57% | 19 |
| Recurring revenue pct SSB | 61% | 19 |
| Recurring revenue pct | 69.8% | 19 |
| Recurring revenue pct | 73.2% | 19 |
| Recurring revenue pct 9M | 71.7% | 19 |
| Recurring revenue pct 9M | 73.0% | 19 |
| Network Managed Units | 80.9 | 19 |
| Network Managed Units | 79.5 | 19 |
| LTM ARPU Network | 16.2 | 19 |
| LTM ARPU Network | 15.9 | 19 |
| Annualized recurring revenue SSB | 1,712 | 19 |
| Annualized recurring revenue SSB | 1,645 | 19 |
| ATMaaS revenue | 67 | 19 |
| ATMaaS revenue | 49 | 19 |
| NCR Atleos, published 2025-11-05, period 2025-Q3 | ||
| Revenue from ATMaaS Arrangements | 67 | 18 |
| Recurring Revenue as a Percent of Revenue | 70% | 18 |
| Recurring revenue as % of SSB revenue | 57% | 18 |
| Network Managed Units | 80.9 | 18 |
| LTM ARPU | 16.2 | 18 |
| Annualized Recurring Revenue | 1,712 | 18 |
| NCR Atleos, published 2025-08-07, period 2025-Q2 | ||
| Revenue from ATMaaS Arrangements | 62 | 17 |
| Recurring revenue as % of SSB revenue | 57% | 17 |
| Network Managed Units | 77.0 | 17 |
| LTM ARPU (Network) | 16.2 | 17 |
| Annualized recurring revenue (Self-Service Banking) | 1,685 | 17 |
| NCR Atleos, published 2025-08-06, period 2025-Q2 | ||
| Revenue from ATMaaS Arrangements | 62 | 16 |
| Recurring Revenue as a Percent of Revenue | 70% | 16 |
| Recurring revenue as % of SSB revenue | 57% | 16 |
| Network Managed Units | 77.0 | 16 |
| LTM ARPU | 16.2 | 16 |
| Annualized recurring revenue | 1,685 | 16 |
| NCR Atleos, published 2025-05-08, period 2025-Q1 | ||
| Total debt | 2,968 | 15 |
| Revenue from ATM as a Service arrangements | 57 | 15 |
| Recurring Revenue | 742 | 15 |
| Network Managed Units | 77.2 | 15 |
| LTM ARPU (Network) | 16.1 | 15 |
| Cash held by foreign subsidiaries | 264 | 15 |
| Cash and cash equivalents | 352 | 15 |
| Borrowing capacity under senior secured credit facility | 336 | 15 |
| Annualized recurring revenue (Self-Service Banking) | 1,606 | 15 |
| ATM as a Service units (Self-Service Banking) | 29.1 | 15 |
| NCR Atleos, published 2025-05-07, period 2025-Q1 | ||
| Recurring revenue percentage | 76% | 14 |
| Installed base ATMs | 600,000 | 14 |
| ATM as a Service unique customers growth | 40% year-over-year | 14 |
| ATM as a Service revenue growth | 24% year-over-year | 14 |
| NCR Atleos, published 2025-03-03, period FY2024 | ||
| US revenue percentage | 45% | 12 |
| Research and development | 66 | 12 |
| Research and development | 77 | 12 |
| Research and development | 64 | 12 |
| Patents United States | approximately 500 | 12 |
| International revenue percentage | 55% | 12 |
| Functional currencies exposure | approximately 40 | 12 |
| Fixed rate debt percentage | 45% | 12 |
| ATM network size | approximately 78,000 | 12 |
| ATM countries serviced | 65 | 12 |
| ATM countries operational | 12 | 12 |
| Revenue from ATM as a Service arrangements | 194 | 12 |
| Recurring Revenue | 3,136 | 12 |
| Network Managed Units | 77.8 | 12 |
| LTM ARPU (Network) | 16.1 | 12 |
| Annualized recurring revenue (Self-Service Banking) | 1,685 | 12 |
| ATM as a Service units | 28.4 | 12 |
| NCR Atleos, published 2025-03-03, period 2024-Q4 | ||
| Recurring revenue | 790 million | 13 |
| Recurring revenue | 777 million | 13 |
| Recurring revenue | 3,136 million | 13 |
| Recurring revenue | 2,982 million | 13 |
| Operating cash flow | 80 million | 13 |
| Operating Cash Flow | 344 million | 13 |
| Gross Margin Q4 2024 GAAP | 26.8% | 13 |
| Adjusted Gross Margin | 28.8% | 13 |
| Adjusted Gross Margin | 24.8% | 13 |
| Adjusted Gross Margin | 26.1% | 13 |
| Adjusted Gross Margin | 25.5% | 13 |
| Adjusted EBITDA Margin | 19.8% | 13 |
| Adjusted EBITDA Margin | 16.2% | 13 |
| Adjusted EBITDA Margin | 18.1% | 13 |
| Adjusted EBITDA Margin | 17.5% | 13 |
| NCR Atleos, published 2024-11-12, period 2024-Q3 | ||
| Service Revenue | 843 million | 11 |
| Recurring Revenue as a Percent of Revenue | 73% | 11 |
| Recurring Revenue | 790 | 11 |
| Operating Cash Flow Year-to-Date | 264 million | 11 |
| Operating Cash Flow Q3 | 107 million | 11 |
| Network Managed Units Prior Year | 83.1 | 10 |
| Network Managed Units | 79.5 | 10 |
| LTM ARPU (Network) Prior Year | 14.8 | 10 |
| LTM ARPU (Network) | 15.9 | 10 |
| Annualized Recurring Revenue (Self-Service Banking) Prior Year | 1,551 | 10 |
| Annualized recurring revenue (Self-Service Banking) | 1,664 | 10 |
| ATM as a Service Units Prior Year | 18.2 | 10 |
| ATM as a Service units | 22.8 | 10 |
| NCR Atleos, published 2024-08-14, period 2024-Q2 | ||
| Recurring revenue percentage | 73.4% | 9 |
| Recurring Revenue | 793 | 9 |
| ATM as a Service units | 22,077 | 9 |
| NCR Atleos, published 2024-08-13, period 2024-Q2 | ||
| Recurring revenue percentage | 73% | 8 |
| Recurring Revenue Growth | 9% | 8 |
| Recurring Revenue | 793 million | 8 |
| NCR Atleos, published 2024-05-14, period 2024-Q1 | ||
| Recurring Revenue Pct | 72.7% | 7 |
| Recurring Revenue | 763 | 7 |
| Adjusted FCF (unrestricted) | 69 | 7 |
| NCR Atleos, published 2024-05-13, period 2024-Q1 | ||
| Recurring Revenue Growth | 7% | 6 |
| Recurring Revenue as a Percent of Revenue | 73% | 6 |
| Recurring Revenue | 763 | 6 |
| NCR Atleos, published 2024-03-26, period FY2023 | ||
| US management women % | 29% | 5 |
| US ethnically/racially diverse % | 29% | 5 |
| Service ATMs countries | 60 | 5 |
| Sales & marketing staff | 565 | 5 |
| R&D expense | 77 million | 5 |
| R&D expense | 64 million | 5 |
| R&D expense | 107 million | 5 |
| Patents US | 500 | 5 |
| International revenue % | 55% | 5 |
| International revenue % | 55% | 5 |
| International revenue % | 59% | 5 |
| Countries of operations | 56 | 5 |
| ATM networks countries | 11 | 5 |
| Allpoint network locations | approximately 83,000 | 5 |
| Total debt | $3,099 | 5 |
| Recurring revenue % of total revenue | 71.2% | 5 |
| Recurring Revenue | $2,982 | 5 |
| Net cash from operating activities | $355 | 5 |
| Cash and cash equivalents | $339 | 5 |
| Adjusted FCF (unrestricted) | $184 | 5 |
| NCR Atleos, published 2024-02-14, period 2023-Q4 | ||
| Recurring revenue % of revenue | 71% | 4 |
| Recurring revenue % of revenue | 67% | 4 |
| Recurring revenue | $777 | 4 |
| Recurring revenue | $709 | 4 |
| ATM-as-a-Service active units (year-end) | more than 20,000 | 4 |
| NCR Atleos, published 2023-11-14, period 2023-Q3 | ||
| Total Adjusted EBITDA margin % | 19.7% | 3 |
| T&T Adjusted EBITDA margin % | 20.4% | 3 |
| Self-Service Banking Adjusted EBITDA margin % | 26.2% | 3 |
| Recurring revenue (9M) | 2205 | 2 |
| Recurring Revenue | 765 | 2 |
| Recurring Revenue | 765 million | 3 |
| Network Adjusted EBITDA margin % | 33.7% | 3 |
| NCR Atleos, published 2023-09-05, period 2023-Q2 | ||
| Total Units Owned Managed Serviced | 796,097 | 1 |
| Recurring revenue percentage | 70.2% | 1 |
| Payment transactions | 905 | 1 |
| ATM as a Service units | 18,007 | 1 |
NCR Atleos Development
A condensed summary of NCR Atleos per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. NadirAlpha methodology
FY2026: NCR Atleos
NCR Atleos reported Q1 revenue of USD 1,043 million and Q2 revenue of USD 1,103 million, with first-half growth of 3% year-over-year 24. Self-Service Banking was the primary Q1 growth driver, with ATMaaS up 30% and hardware revenues rising 23% year-over-year 22. Gross margin compressed to 22.4% in Q1 from higher tariffs and vault cash expenses, then recovered materially in Q2 to 28.0% as tariff refunds became available and software and services mix improved 24. Net income attributable to NCR Atleos rose to USD 22 million in Q1 and USD 65 million in Q2, with H1 net income up 64% year-over-year 25. NCR Atleos entered into a merger agreement with The Brink's Company on February 26, 2026; stockholders of both companies approved the transaction on June 30, 2026, with closing expected early Q1 2027 24.
FY2025: NCR Atleos
NCR Atleos Corp reported total revenue of $4,354 million for fiscal year 2025, up 1% year-over-year, with Self-Service Banking segment revenue growing 7% driven by 14% hardware growth and 33% ATM as a Service revenue expansion, while the Network and T&T segments each posted modest declines 21. Gross margin improved to 24.4% from 23.7% in 2024, and adjusted EBITDA grew 6% to $830 million with margin expanding 90 basis points to 19.1% 20 21. Net income attributable to Atleos increased 103% to $162 million compared to $80 million in 2024, supported by lower interest expense following 2024 debt restructuring and a September 2025 Term B Loan refinancing 20 21. Adjusted free cash flow reached $326 million for the year, up 35% year-over-year, with adjusted free cash flow conversion expanding to 39% 20. In February 2026, the company entered a definitive agreement to be acquired by The Brink's Company in a cash and stock transaction, with the board-authorized $200 million share repurchase program suspended in connection with the pending acquisition 20.
FY2024: NCR Atleos
NCR Atleos Corporation completed its first full fiscal year 2024 as an independent publicly traded company following its separation from NCR Corporation on October 16, 2023 12. Total revenue grew 3% to approximately $4.3 billion, driven by recurring revenue growth of 5% to $3.1 billion, which represented an increasing share of total sales throughout the year 13. Adjusted EBITDA rose 7% to $781 million and full-year gross margin expanded to 23.9% from 22.3% in 2023, reflecting growth in higher-margin recurring service streams 12 13. Net income attributable to Atleos was $91 million in 2024 compared to a loss of $134 million in 2023, an improvement of $225 million 12. In October 2024, Atleos completed a debt refinancing that reduced the weighted average interest spread by approximately 100 basis points on $1.7 billion of variable-rate debt 11.
FY2023: NCR Atleos
NCR Atleos Corp reported fiscal year 2023 total revenue of approximately $4.2 billion, a 1% increase year-over-year, with service revenue growing 4% while product revenue declined 6% 5. NCR Atleos completed its separation from NCR Corporation on October 16, 2023, beginning to trade independently on the NYSE under the ticker NATL 4. Adjusted EBITDA grew 7% to $732 million from $685 million in 2022, supported by cost mitigation actions in fuel, shipping, and component parts across segments 5. Recurring revenue as a percentage of total revenue increased to 71.2% in 2023 from 67.7% in 2022, with ATM-as-a-Service units exceeding 20,000 by year-end 4 5. NCR Atleos recorded a net loss of approximately $150 million for FY2023, primarily reflecting $170 million in separation-related costs and $239 million in income tax expense associated with the spin-off restructuring 5.
Glossary
- Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
- Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
- Op. income (adj.): Adjusted operating income, verbatim and company-defined (non-GAAP), never derived.
- EBITDA (adj.): Adjusted EBITDA, verbatim and company-defined (non-GAAP), never derived.
- Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
- EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
- EPS adj.: Adjusted earnings per share, verbatim and company-defined (non-GAAP).
- FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
- OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
- Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
- Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
- *: derived, the formula is in the hover
- ≈: calculated, approximation
- ~: uncertain; the value stays visible, verdicts do not use it
- °: repaired by a targeted query against the document, or curated with documentary evidence
- EBIT: EBIT as a fallback: the income statement carries no operating line
- basic: basic earnings per share as a fallback when diluted is missing
Sources: quarterly reports, annual reports and investor relations documents
25 sources on NCR Atleos since 2023; the superscript numbers in the chapters refer to these rows, older documents are in the expandable part. NadirAlpha methodology
NCR Atleos Stock FAQ
Which additional key figures does NCR Atleos report?
As reported for Q2 2026: Network Managed Units, LTM ARPU, Revenue from ATMaaS, Recurring Revenue as pct SSB, Annualized Recurring Revenue SSB. The chapter Reported KPIs lists every value with its source. Revenue is broken down by Telecommunications & Technology, Payments & Network, Self-Service Banking, Network.
Where can I find the official investor relations documents of NCR Atleos?
NadirAlpha links all 25 original filings used (SEC filings) in the sources chapter: earnings release, quarterly report, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.