NCR Atleos Corporation Reports Strong Second Quarter Results
Monday, August 10th, 2026
NCR Atleos Corporation (NYSE: NATL) ("Atleos"), a leader in expanding self-service financial access for financial institutions, retailers and consumers, today reported second quarter 2026 results. Key highlights include:
-
Total revenue for the first six months of 2026 was $2.1 billion, up 3% year-over-year.
-
Total revenue of $1.1 billion in Q2, with 70% from recurring revenue streams.
-
-
Net income attributable to Atleos for the first six months was $87 million, up an impressive 64% year-over-year; Adjusted EBITDA for the first six months was $426 million, up 14% year-over-year.
-
Net income attributable to Atleos in Q2 was $65 million, up 67% year-over-year; Adjusted EBITDA for Q2 was $254 million, up approximately 25% year-over-year.
-
-
Self-Service Banking revenue for the first six months of 2026 increased 6% with Self-Service Banking Adjusted EBITDA growth of 9%.
-
Self-Service Banking revenue for Q2 was up 1% as we compare against record hardware volumes for the last 12-month period.
-
Self-Service Banking Adjusted EBITDA for Q2 increased 13% led by ATM as a Service ("ATMaaS"), Software, net tariff refunds, and productivity initiatives offsetting elevated memory and fuel costs.
-
-
Network revenue was flat for the first six months of 2026 with Network Adjusted EBITDA growth of 10%.
-
Network revenue for Q2 declined 1% with lower demand in crypto transactions, offset by strong volume growth in South Africa and Australia.
-
Network Adjusted EBITDA for Q2 increased 23% year-over-year, led by positive settlement processing and lower vault cash costs.
-
Allpoint core transaction volumes remain strong with deposits reaching over one million in Q2, fueled by the expansion of one of the largest convenience retailers and a renewal with one of the largest prepaid programs in the world.
-
Tim Oliver, Atleos' Chief Executive Officer, said, "NCR Atleos delivered another strong quarter and a very good first half of 2026. Our service-led growth initiatives and investment in product innovation are encouraging financial institutions and retailers to choose our differentiated and comprehensive offering to meet their evolving self-service needs. In the first half, service and software business paced our growth and ATM hardware revenue was steady at historically high 2025 levels. Productivity programs that outpaced war-related pressures and tariff relief allowed profit margins to improve significantly.
"The regulatory and administrative processes required to complete our proposed transaction with The Brink's Company are progressing and we now anticipate an accelerated timeline to close early in the first quarter of 2027. At the end of June, both Brink's shareholders and NCR Atleos stockholders overwhelmingly voted to approve the transaction. This marked a significant step toward bringing together two great companies in a merger that will expand financial access, provide innovative solutions to our customers, and offer exciting opportunities to our employees," Mr. Oliver concluded.
Andy Wamser, Chief Financial Officer, added, "We have completed several important milestones in the regulatory and administrative processes required to complete our proposed transaction with The Brink's Company, and we continue to make meaningful progress toward closing. In the first half of the year, we again delivered results that met our internal plan. As we close out the year, we expect higher earnings and cash flow conversion that will allow us to further reduce our net leverage in advance of the anticipated transaction."
Key Financial Highlights
-
Q2 Total Revenue of $1.10 billion, flat year-over-year; with 70% from recurring revenue streams.
-
Q2 Net Income Attributable to Atleos of $65 million, an increase of 67% year-over-year.
-
Q2 Adjusted EBITDA of $254 million, an increase of 25% year-over-year.
-
Q2 Diluted Earnings per Share of $0.86, an increase of 65% from prior year Q2; Adjusted Diluted Earnings per Share of $1.49, an increase of 67% from prior year Q2.
-
Q2 Net Cash from operating activities of $30 million, Q2 Adjusted Free Cash Flow-unrestricted of $16 million.
Second Quarter 2026 Operating Results
Revenue
Total Revenue of $1.10 billion was flat year over year for the second quarter of 2026, and included $776 million of recurring revenue, compared to $1.10 billion and $772 million, respectively, in the prior year period. Revenue from software and services (including ATMaaS) increased, offset by a reduction in hardware sales and associated installation services, and an expected reduction in other revenues as commercial agreements and commerce-related contracts with Voyix continued to wind down.
Gross Margin
Gross margin for the three months ended June 30, 2026 increased to 28.0% compared to 22.9% in the prior year period. The increase was driven by net tariff refunds, favorable product mix in software and services, productivity initiatives, and positive settlement processing and lower vault cash costs in the transaction business, offset by an increase in other costs, including fuel and memory chips. Adjusted gross margin increased from 24.9% to 30.2%.
Net Income and Net Income Margin
Net income attributable to Atleos for the second quarter of 2026 increased 67% to $65 million, or 6% of revenue, compared to $39 million, or 4% of revenue in the prior year period.
Other Results
Net cash from operating activities for the second quarter was $30 million. Adjusted free cash flow-unrestricted was $16 million.
Pending Transaction with The Brink's Company
In light of the pending transaction with The Brink's Company (Brink's), Atleos will not be hosting an earnings conference call to review second quarter results or providing a financial outlook.
References to Atleos' website and/or other social media sites or platforms in this release do not incorporate by reference the information on such websites, social media sites, or platforms, and Atleos disclaims any such incorporation by reference.
