NCR Voyix Reports Revenue Decline Amid Strategic Shift Toward Software
On August 5, NCR Voyix (NYSE:VYX) reported second-quarter results showing a year-over-year revenue decline of 21% to $523 million. The drop was attributed primarily to the company's strategic exit from its hardware business rather than declining demand. When adjusted for this transition, underlying software and services revenue grew by 1%. Recurring revenue also increased slightly, with recurring software revenue rising to $211 million. The platform segment showed strong growth in contract value and site counts, indicating a solid pipeline ahead. Remaining Contract Value tied to the Voyix Commerce Platform reached approximately $286 million as of June 30, up from $173 million a year earlier. The company also secured new contracts with Pizza Ranch and Voyager. Despite these positive signs, NCR Voyix reported a net loss for continuing operations at -$1 million compared to breakeven in the prior-year period. Non-GAAP diluted EPS remained flat at $0.17 per share. Management maintained its full-year revenue guidance between $2.19 billion and $2.303 billion, reflecting ongoing uncertainty around the transition's success.
Topics: business transition EBITDA improvement revenue decline software growth