NCR Voyix Sees Growth in Digital Banking and Self-Checkout

NCR Voyix’s first-quarter earnings results took note of strength in customer conversions to its commerce platform and growth in digital banking and the adoption of self-checkout technology to help streamline customer interactions, especially in retail.

CEO David Wilkinson said on a Thursday (May 9) conference call with analysts that the company is making progress converting customers to its platform and now has approximately 61,000 retail and restaurant platform sites — representing 18% of NCR Voyix’s total customer sites. Management noted on the call that connecting to the platform helps client firms improve their digital capabilities, including payments and marketing functions.

Within the restaurant vertical, the company signed more than 230 new customers and increased platform and payment sites by a respective 6% and 26%, per an earnings report. Annual recurring revenues were up 5% to $554 million.

Within the retail segment, the company signed more than 50 additional customers. ARR here was up 5%, to a bit more than $1 billion.

Digital Banking Growth

Wilkinson said that within digital banking, registered users were 5% higher to more than 28.5 million. Segment ARR was up 7% to $539 million as active users were 3% higher year on year to 19.7 million. Average revenue per user gained 4% to $27.63 from a year ago.

“Today, 13 of the 15 largest retail banks in the U.S. utilize our digital-first platform,” Wilkinson said during his remarks.

In discussing self-checkout, Wilkinson noted on the call that the solutions deliver “seamless checkout experience to both new and existing retail customers. Retailers continue to focus on improving the guest experience and adopting operational efficiencies in the face of a challenging labor market” that will help drive results in the retail segment.

Chief Financial Officer Brian Webb-Walsh said the company is affirming its guidance ranges of $3.6 billion to $3.7 billion in the current fiscal year.

Shares were flat at the start of trading Thursday.

During a question-and-answer session, Wilkinson said “self-checkout, for us, is really a holistic solution. We’re following the consumer trends of consumers looking for different ways to check out. And a lot of that is … unassisted checkout, whether that takes the form of a mobile device, a kiosk or the standard self-checkout that you know and love in terms of the appliance that sits within a large grocery chain or a large big-box store. So, we’re going to continue to see demand.”

Asked on the call about momentum in software, Wilkinson said software growth rates should be similar to what has been seen in past quarters as the company monetizes its installed base of customers. Software and services revenue of $666 million was up 2% from the year-ago first quarter.