NCR Voyix Corporation reported its financial results for the third quarter ended September 30, 2024, highlighting ongoing strategic transformation. The company posted total revenue of $698 million, an 10.6% decline compared to $781 million in the prior year's third quarter. Retail segment revenue decreased by 12% to $487 million, while the Restaurants segment revenue declined by 8% to $211 million.
Despite the top-line pressure, Adjusted EBITDA for Q3 2024 was $174 million, a slight decrease from $175 million in Q3 2023. Notably, Restaurant Adjusted EBITDA increased by 27% to $66 million, driven by a favorable software and services mix and cost mitigation efforts. Retail Adjusted EBITDA, however, declined by 12% to $108 million, primarily due to lower hardware revenue.
The company reaffirmed its full-year 2024 guidance, projecting total revenue between $2.805 billion and $2.860 billion, and Adjusted EBITDA between $355 million and $375 million. CEO David Wilkinson noted the successful completion of the Digital Banking business sale and significant debt reduction, which streamlined operations and strengthened the balance sheet, positioning the company for its go-forward growth strategy despite hardware declines.
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