Monitor Q2 2026 for continued recurring revenue growth and RCV conversion to revenue. The hardware transition will distort reported revenue comparisons for the next few quarters, so focus on pro forma metrics and cash flow. The Japan divestiture closure could provide additional cash for debt reduction or buybacks.
Price Chart
Executive Summary
NCR Voyix reported Q1 2026 revenue of $606M (down 1% YoY) but improved profitability with non-GAAP EPS of $0.10 (up from $0.08) and operating cash flow turning positive to $42M. Recurring revenue grew 4% to $419M and Remaining Contract Value surged 75% to $293M, indicating strong platform adoption. FY2026 guidance was maintained (pro forma revenue flat to +3%, adjusted EBITDA up 3-7%) despite the hardware business transition and Japan divestiture.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $606M vs $612M prior year (-1%)
- Net loss from continuing ops improved to $(2M) from $(21M)
- Non-GAAP diluted EPS $0.10 vs $0.08 prior year
- Adjusted EBITDA $78M vs $74M prior year (+5%)
- Recurring revenue $419M vs $404M (+4%)
- Remaining Contract Value for Voyix platform $293M, up 75% YoY and 15% sequentially
- FY2026 outlook: revenue $2,188-$2,303M (pro forma -2% to +3%), adjusted EBITDA $432-$447M (3-7% growth), non-GAAP EPS $0.89-$0.92 (3-7% growth)
- Completed hardware business transition; Japan bank tech sale expected by end of 2026
- Operating cash flow $42M vs $(42M) prior year
Financial Impact
Revenue decline of ~$6M YoY but recurring revenue grew $15M; adjusted EBITDA up $4M; operating cash flow improved by $84M.
Risk Factors
- Revenue decline (even modest) signals ongoing business model transition risk
- Hardware transition may cause lumpy revenue recognition in coming quarters
- Japan sale may not close as expected
- High debt levels ($1.1B long-term debt) relative to equity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000070866-26-000016 |
| Document: ncr-20260507.htm | 0000070866-26-000016 |
| Document: 0000070866-26-000016-index-headers.html | 0000070866-26-000016 |
| Document: 0000070866-26-000016-index.html | 0000070866-26-000016 |
| Document: 0000070866-26-000016.txt | 0000070866-26-000016 |
| 8-K Data (Synthetic) | 0000070866-26-000016 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 8, 2026 20w ago | 8-K | $1,002.00 $1,002.00 | · 0.00% | ▼ −1.39% | $1,002.00 (0.00%) |
May 7, 2026 24w ago | 8-K | $1,002.00 $1,002.00 | · 0.00% | ▼ −3.14% | $1,002.00 (0.00%) |
Apr 27, 2026 26w ago | DEFA14A | $1,002.00 $1,002.00 | · 0.00% | ▼ −4.96% | $1,002.00 (0.00%) |
Apr 21, 2026 26w ago | DEFA14A | $1,002.00 $1,002.00 | · 0.00% | ▼ −3.17% | $1,002.00 (0.00%) |
US Market Status
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