NCR Voyix Corporation reported a challenging financial performance for the third quarter of 2024, with total revenue of $711 million, a 12% decrease from $809 million in the same period of 2023. Product revenue fell significantly by 26% to $219 million, primarily due to declines in self-checkout (SCO) and point-of-sale (POS) hardware sales, as well as a decrease in software license revenues. Service revenue also decreased by 4% to $492 million, attributed to reduced payment processing services following a divestiture at the end of 2023. For the nine months ended September 30, 2024, total revenue was $2.144 billion, down 10% from $2.382 billion in 2023.

Despite the revenue decline, NCR Voyix reported a net income of $4 million for Q3 2024, a significant improvement compared to a net loss of $123 million in Q3 2023. The company’s net loss from continuing operations attributable to common stockholders decreased to $31 million from $266 million year-over-year. Adjusted EBITDA for Q3 2024 was $93 million, down from $103 million in the prior year, but represented a slight increase as a percentage of total revenue.

Strategically, NCR Voyix completed the sale of its Digital Banking segment to an affiliate of The Veritas Capital Fund for $2.45 billion in cash on September 30, 2024. This transaction resulted in a pre-tax gain of approximately $1.5 billion, significantly impacting the company's financials. The sale's financial results are reported as discontinued operations for the three and nine months ended September 30, 2024. Additionally, the company announced a transition of its self-checkout and POS hardware businesses to an outsourced model with Ennoconn Corporation, expected to be implemented by January 1, 2025.

The company faced challenges from a cyber ransomware incident, incurring $46 million in related expenses, with partial recovery through insurance. NCR Voyix also identified fraudulent ACH disbursements totaling $34 million, recovering $15 million as of September 30, 2024.

In terms of operational efficiency, selling, general, and administrative expenses decreased to $340 million for the nine months ended September 30, 2024, down from $427 million in 2023. Research and development expenses increased, reflecting the company's commitment to innovation.

As of September 30, 2024, NCR Voyix had total cash and cash equivalents of $795 million and total debt of $1.1 billion. The company’s liquidity position appears stable, with sufficient capacity to meet its obligations.