NCR Atleos Corporation, a leader in expanding self-service financial access for financial institutions, retailers and consumers, today reported first quarter 2026 results. Key highlights include:

• Total revenue of $1.04 billion, an increase of 7% year over year with 72% from recurring revenue streams.
• Self-Service Banking revenue grew approximately 12% year-over-year, led by approximately 30% growth in ATM as a Service (“ATMaaS”) and 23% hardware growth.
  • Market adoption of our recycling technology continues to accelerate growth in hardware orders.
  • ATMaaS delivered approximately 30% year-over-year growth with new market expansion in Europe and Latin America.
• Network revenue demonstrated growth of approximately 1% on a year-over-year basis.
  • Allpoint core transaction volumes remain robust and are approaching all‑time highs, fueled by the expansion of one of the largest convenience retailers and a renewal with one of the largest neobanks in North America.
• Net income attributable to Atleos of $22 million; Adjusted EBITDA of $172 million.
  • Results were in line with plan even as we absorbed net tariff and higher memory costs impacts of approximately $11 million; up significantly from the prior year.

Tim Oliver, Atleos’ Chief Executive Officer, said, “NCR Atleos delivered another strong quarter of financial results. Our service-led growth initiatives continue to pay dividends as financial institutions and retailers increasingly select our differentiated and comprehensive self-service banking offering. ATM hardware revenue grew 23% year-over-year further extending our global install base and driving meaningful, multi-year recurring revenue from attached services and licensed software. ATM as a Service business increased approximately 30% driven by continued growth in North America and Asia, as well as new expansion into Latin America and Europe.

“During the quarter, we continued the global rollout of our AI‑enabled dispatch solution across Europe, delivering improved efficiency, customer satisfaction and cost savings. The Europe rollout follows the successful implementation of our AI dispatch solution last year in North America.

“The regulatory and administrative processes required to complete our proposed transaction with The Brink’s Company are underway and we continue to target a closing by the end of the first quarter of 2027. We expect that combining the complementary businesses of Brink’s and Atleos will enable us to enhance offerings to financial institutions and retailers, and we continue to aim to expand financial access for customers. The transaction will deliver significant value to our shareholders and create new opportunities for our employees,” Mr. Oliver concluded.

Andy Wamser, Chief Financial Officer, added, “Despite a volatile backdrop, we again delivered results that met our internal plan. We anticipate continued sequential growth in earnings and free cash flow, coupled with improved net leverage as we progress through the year.”

Key Financial Highlights

• Q1 Total Revenue of $1.04 billion, an increase of 7% y/y; with 72% from recurring revenue streams.
• Q1 Net Income Attributable to Atleos of $22 million, an increase of 57% y/y.
• Q1 Adjusted EBITDA of $172 million, flat y/y.
• Q1 Diluted Earnings per Share of $0.29, an increase of 53% from prior year Q1; Adjusted Diluted Earnings per Share of $0.65, an increase of 2% from prior year Q1.
• Q1 Net Cash used in operating activities of $9 million, Q1 Adjusted Free Cash Flow-unrestricted of $(13) million.

First Quarter 2026 Operating Results

Revenue

Total Revenue increased 7% or $64 million, to $1.04 billion in the first quarter of 2026, including $754 million of recurring revenue, compared to $979 million and $741 million, respectively, in the prior year period. Revenue growth was driven by Self-Service Banking with increases in hardware sales and related installation revenues, software, and continued growth in ATMaaS.

Gross Margin

Gross margin for the three months ended March 31, 2026 decreased to 22.4% compared to 23.7% for the prior year period. The decrease was primarily due to the impact of higher tariffs and increases in vault cash expense and the cost of certain products used in manufacturing, partially offset by a favorable mix of higher margin software and services revenue, including ATMaaS growth. Adjusted gross margin decreased from 25.9% to 24.5%.

Net Income and Net Income Margin

Net income attributable to Atleos for the first quarter of 2026 increased 57% to $22 million, or 2% of revenue, compared to $14 million, or 1% of revenue in the prior year period.

Other Results

Net cash used in operating activities for the first quarter was $9 million. Adjusted free cash flow-unrestricted was $(13) 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 the first 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.