NCR Voyix Corporation (NYSE:VYX) Q4 2023 Earnings Call Transcript

Unidentified Analyst : And then just given some of the lumpiness associated with hardware, if you could provide any color on the expected cadence in revenue in ’24 within the retail and restaurant segment would be helpful.

Brian Webb-Walsh: Sure. So for restaurants, we expect to be flat to up 1% overall, but that’s made up of software and services growing 5% and hardware being down. And then in retail, the decline is declining roughly 4%, and that’s due to hardware, software and services is growing 1%. And if I adjust for the $25 million nonrecurring software payment that I mentioned, it would be up 3%. So we’re seeing growth in all 3 businesses on the software and services line. It’s just hardware is putting pressure, especially on retail.

Operator: Thank you. And we have reached the end of the question-and-answer session. And I’ll now turn the call back over to CEO, David Wilkinson for closing remarks.

David Wilkinson: Yes. In closing, I’d like to thank our customers, again for the trust they put in us every day to help them achieve their strategic objectives. I’d also like to thank again our NCR Voyix colleagues for their contribution to our success up to now and our investors for their ongoing support. As I stated earlier, we remain committed to serving our existing clients and bringing them all on the platform journey. Our platform investments over the past years have provided real value to our customers, and we’re going to continue to connect them to the platform. We’ve built a solid foundation for growth within our base and growth of new customers, specifically in the mid-market. While we’re proud of where we are, we need to do better at turning this foundation into growth, and this focus will show up in our results. I believe in the plan we have outlined today, and I believe in this management team to execute. Thank you all for joining the call.

Operator: And this concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.