NCR Voyix Corp. Files Q2 2024 10-Q Report

TL;DR

NCR Voyix Q2 24 10-Q filed. Financials out.

AI Summary

NCR Voyix Corp. filed its 10-Q for the period ending June 30, 2024. The company, formerly NCR Corp., reported financial results for the second quarter of 2024. Key financial data and operational segments were detailed in the filing.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational details of NCR Voyix Corp., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial data and forward-looking statements that can impact stock price.

Key Players & Entities

• NCR Voyix Corp. (company) — Filer of the 10-Q report
• NCR Corp. (company) — Former name of NCR Voyix Corp.
• 20240630 (date) — End of the reporting period
• 20240806 (date) — Filing date of the report

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share VYX New York Stock Exchange

Filing Documents

• ncr-20240630.htm (10-Q) — 2232KB
• exhibit101vyx-managementin.htm (EX-10.1) — 37KB
• exhibit102offerletteragree.htm (EX-10.2) — 28KB
• exhibit1032024_pbrsuxexecx.htm (EX-10.3) — 136KB
• exhibit1042024_tbrsuxexecx.htm (EX-10.4) — 123KB
• exhibit105offerletteragree.htm (EX-10.5) — 36KB
• exhibit1062024time-basedrs.htm (EX-10.6) — 121KB
• exhibit1072024pb-rsuagreem.htm (EX-10.7) — 130KB
• exhibit311sec302ceocert-06.htm (EX-31.1) — 8KB
• exhibit312sec302cfocert-06.htm (EX-31.2) — 8KB
• exhibit32sec906ceoandcfoce.htm (EX-32) — 8KB
• 0000070866-24-000031.txt ( ) — 12796KB
• ncr-20240630.xsd (EX-101.SCH) — 69KB
• ncr-20240630_cal.xml (EX-101.CAL) — 101KB
• ncr-20240630_def.xml (EX-101.DEF) — 405KB
• ncr-20240630_lab.xml (EX-101.LAB) — 891KB
• ncr-20240630_pre.xml (EX-101.PRE) — 641KB
• ncr-20240630_htm.xml (XML) — 2119KB

Financial Information

PART I. Financial Information Description Page

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Statements of Operations (Unaudited) Three and Six Months Ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets (Unaudited) June 30, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) Three and Six Months Ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 37

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 53

Controls and Procedures

Item 4. Controls and Procedures 54

Other Information

PART II. Other Information Description Page

Legal Proceedings

Item 1. Legal Proceedings 56

Risk Factors

Item 1A. Risk Factors 56

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 57

Other Information

Item 5. Other Information 58

Exhibits

Item 6. Exhibits 59

Signatures

Signatures 60 2 Table of Contents

Financial Information

Part I. Financial Information

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS NCR Voyix Corporation Condensed Consolidated Statements of Operations (Unaudited) In millions, except per share amounts Three months ended June 30 Six months ended June 30 2024 2023 2024 2023 Product revenue $ 256 $ 311 $ 488 $ 599 Service revenue 620 635 1,246 1,253 Total revenue 876 946 1,734 1,852 Cost of products 232 269 431 536 Cost of services 453 413 916 828 Selling, general and administrative expenses 140 167 271 322 Research and development expenses 55 42 115 91 Total operating expenses 880 891 1,733 1,777 Income (loss) from operations ( 4 ) 55 1 75 Interest expense ( 41 ) ( 91 ) ( 80 ) ( 174 ) Other income (expense), net ( 5 ) ( 8 ) ( 25 ) ( 12 ) Income (loss) from continuing operations before income taxes ( 50 ) ( 44 ) ( 104 ) ( 111 ) Income tax expense (benefit) 24 7 10 12 Income (loss) from continuing operations ( 74 ) ( 51 ) ( 114 ) ( 123 ) Income (loss) from discontinued operations, net of tax 1 67 — 147 Net income (loss) ( 73 ) 16 ( 114 ) 24 Net income (loss) attributable to noncontrolling interests — — ( 1 ) — Net income (loss) attributable to noncontrolling interests of discontinued operations — ( 1 ) — — Net income (loss) attributable to NCR Voyix $ ( 73 ) $ 17 $ ( 113 ) $ 24 Amounts attributable to NCR Voyix common stockholders: Income (loss) from continuing operations $ ( 74 ) $ ( 51 ) $ ( 113 ) $ ( 123 ) Series A convertible preferred stock dividends ( 4 ) ( 4 ) ( 8 ) ( 8 ) Income (loss) from continuing operations attributable to NCR Voyix common stockholders ( 78 ) ( 55 ) ( 121 ) ( 131 ) Income (loss) from discontinued operations, net of tax 1 68 — 147 Net income (loss) attributable to NCR Voyix common stockholders $ ( 77 ) $ 13 $ ( 121 ) $ 16 Income (loss) per share attributable to NCR Voyix common stockholders: Income (loss) per common share from continuing operations Basic $ ( 0.54 ) $ ( 0.39 ) $ ( 0.84 ) $ ( 0.94 ) Diluted $ ( 0.54 ) $ ( 0.39 ) $ ( 0.84 ) $ ( 0.94 ) Net inc

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