NCR Corp. saw $1.986 billion in revenue for its Q2 results, down from $1.997 billion on a year-over-year basis. Its recurring revenue was at $1.262 billion, up from $1.217 billion last year, according to a press release.

It saw an adjusted EBITDA of $389 million up from $339 million last year.

Other key points in the results include:

  • Gross margin of $538 million compared to $471 million last year.
  • Gross margin rate of 27.1%, compared to 23.6% last year.
  • Gross margin (non-GAAP) of $576 million with a rate of 29.0% compared to $515 million with a rate of 25.9% last year.

The company is also continuing with its planned separation into two companies: NCR Voyix , with a focus on retail, hospitality, and digital banking segments; and NCR Atleos, which includes our self-service banking and payments and network segments and telecommunications and technology.

"Over the last three quarters, NCR generated cumulative adjusted free cash flow-unrestricted of over $550 million, enabling us to decrease financial leverage in preparation for the separation transaction," Michael Hayford, CEO of NCR said in the release. "With the planned separation in sight, we will become two distinct and robust entities with market leading positions, each with ample opportunities for long-term growth. NCR Voyix will leverage NCR's industry leading software for global retail, hospitality and digital banking technology platforms. NCR Atleos will enable customers to meet global demand for ATM access while leveraging new ATM transaction types, including digital currency solutions, to drive market growth."

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