AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
NCR Voyix reported Q2 revenue of $523M (−21% YoY) as hardware transition to ODM model depressed product sales; Adjusted EBITDA grew 5% to $98M, with Retail segment EBITDA up 20%.
Biggest Revenue Drivers
Service revenue$496M+4% YoY
Hardware commission revenue from Ennoconn transition, plus increases in payments processing, hardware maintenance and software maintenance revenue.
Product revenue$27M−85% YoY
Decline due to Hardware Business Transition; effective April 1, 2026, transitioned from gross hardware sales to net commission recognition as agent for Ennoconn.
Biggest Revenue Drivers
Total revenue: $523M−21% YoY
Service revenue$496M+4% YoY
Hardware commission revenue from Ennoconn transition, plus increases in payments processing, hardware maintenance and software maintenance revenue.
Product revenue$27M−85% YoY
Decline due to Hardware Business Transition; effective April 1, 2026, transitioned from gross hardware sales to net commission recognition as agent for Ennoconn.
Largest Expense Items
Cost of services$346M+1% YoY
Increased due to service revenue growth; service gross margin improved to 30.2% from 28.2%.
Selling, general and administrative expenses$112M+7% YoY
Increase in employee-related costs and impact of terminated transition services agreement related to Digital Banking Sale.
Research and development expenses$30M−6% YoY
Cost reduction initiatives implemented during the period, including use of artificial intelligence as software development tool.
Cost of products$21M−88% YoY
Decline reflects Hardware Business Transition; remaining product margin benefited from higher-margin software license revenue mix.
Margins: Gross margin improved to 29.8% in Q2 2026 from 22.7% in Q2 2025, driven by the Hardware Business Transition shifting low-margin hardware sales to net commission revenue and improved service gross margins across multiple lines. Operating margin was 2.7% vs. 2.0% in the prior year, with Retail segment Adjusted EBITDA margin rising to 26.6% from 17.8%.
Watch Items from the Filing
Recurring revenue comprised 83% of total Q2 2026 revenue ($435M, +3% YoY), with strong software and services concentration at 95% of total revenue, signaling strategic shift away from hardware; however, absolute revenue declined 21% YoY.
Restaurants segment revenue declined 23% YoY and Adjusted EBITDA fell 15% YoY to $58M, primarily due to Hardware Business Transition and declines in SaaS solutions and software license revenues.
Long-term debt of $1.1B ($650M 5.0% notes due 2028, $403M 5.125% notes due 2029, $52M 5.25% notes due 2030) with borrowing capacity of $474M under revolving facility; cash position of $237M provides moderate liquidity cushion.
Kalamazoo River environmental reserve of $99M as of June 30, 2026 (down from $111M at year-end 2025) with further increases possible; Fox River liability substantially resolved; BA.T indemnity dispute and AT&T payment withholding create ongoing recovery uncertainty.
Deferred income tax benefit of $40M for six months ended June 30, 2026 vs. $11M benefit in prior year driven by valuation allowance changes and higher pre-tax loss; $195M deferred tax asset on balance sheet requires ongoing monitoring.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Reddy Kevin MichaelDirectorGrant or award · Jun 3, 2026
Miller Laura MarieDirectorGrant or award · Jun 3, 2026
Larsen Kirk TDirectorGrant or award · Jun 3, 2026
Henderson IrvDirectorGrant or award · Jun 3, 2026
About NCR Voyix Corp (VYX): stock profile, AI score and financials
NCR Voyix Corp (VYX) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores VYX at 39.0/100 on a composite quality score built from its SEC filings, placing it at rank #2,153 of 2,925 stocks — the bottom half of the AI-ranked universe. VYX scores in the top quartile across institutional flow (79.5). Areas of concern include revenue growth (2.0) and profitability (30.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 49.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), NCR Voyix Corp reports quarterly revenue of $523.0M, net income of $2.0M, an operating margin of 2.7%. Top institutional holders of VYX by reported 13-F value include BlackRock, Greenhouse Funds LLLP, SHAPIRO CAPITAL MANAGEMENT, based on the most recent SEC filings. VYX trades on the NYSE exchange and files with the SEC under CIK 70866. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate VYX daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NCR Voyix Corp directly from SEC EDGAR.