NCR Atleos Corporation

ncratleos.com

What Do They Do?

Provides ATM and interactive teller machine hardware, software and services to financial institutions, retailers and financial technology companies.

How Do They Make Money?

Services bring in software subscription fees under multi-year contracts and ATM operating fees per transaction or as a fixed monthly fee; customers also buy ATM hardware and term-based software licenses.

revenue

Segment	Share	Revenue	How money arrives
Product Mix	24% FY2022: 27%		Mix
Services Mix	76% FY2022: 73%		Mix

Who Are Their Customers?

Banks and credit unions use ATM products and managed services; retailers host ATMs under long-term contracts. Financial technology companies and card issuers connect their customers to the ATM network.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.

Operating income, FY2025

11% of revenue

▲ +9% vs FY2024 ($437M, 10%)

Net income, FY2025

4% of revenue

▲ +103% vs FY2024 ($80M, 2%)

Free cash flow, FY2025

5% of revenue

▼ −7% vs FY2024 ($257M, 6%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ 0%; vs $1.1B in Q2 FY2025
Net income: ▲ +67%; vs $39M in Q2 FY2025

Cost of services share of revenue vs 76.0% in Q2 FY2025

Aug 5, 2026 Atleos updates expected Brink’s merger closing timeline Atleos said the transaction process was progressing and anticipated an accelerated closing early in the first quarter of 2027.
Jun 30, 2026 Brink’s and Atleos stockholders approve the merger The acquisition remained subject to remaining regulatory approvals and customary closing conditions.

Growing. Revenue grew 23% in 4 years, from $3.5B in FY2021 to $4.4B in FY2025, about 5% a year.

Revenue over time

Product Services

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Fiserv, Euronet, Brink’s, Hyosung, and Diebold Nixdorf

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