The following is a summary of the NCR Atleos Corporation (NATL) Q2 2024 Earnings Call Transcript:

Financial Performance:

• NATL reported strong Q2 2024 performance with total company revenue at $1.08 billion, led by 7% growth in software revenue and 6% growth in services revenue.

• Adjusted EBITDA of $193 million, margin at 17.9%, benefiting from revenue growth in self-service banking and network business.

• Diluted adjusted earnings per share were reported at $0.81 with $16 million of adjusted free cash flow generated during the quarter.

Business Progress:

• NATL focused on increasing its ATM as a Service offerings, showing robust growth with ATM as a Service revenue growing 31% year-over-year.

• Expanded transaction types and added new network geographies contribute to growth.

• Introduced deposit acceptance for the US's top banks and expanded with Navy Federal, boosting deposit transactions by 170% year-over-year.

Opportunities:

• Expansion of ATM as a Service in North America shows promise with strong customer interest and a backlog of over 4,000 units.

• Broader range of outsourced services and more robust network infrastructure capabilities to deliver higher yield returns minimize capital intensity and maximize profitability.

Risks:

• Some large unit opportunities in low-cost countries like India not meeting return expectations, impacting growth efficiency.

• Global economic slowdown and geopolitical risks introduce uncertainty into financial projections and macroeconomic conditions.

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