NATL (NCR Atleos Corporation) Stock Financials & Earnings | Market Cap Arena

NATL (NCR Atleos Corporation) Stock Financials & Earnings | Market Cap Arena

NATLNCR Atleos Corporation

Mkt Cap$3B

Technology·Software - Application·🇺🇸 United States·NYSE

Revenue (TTM)$4.4B

Net Income (TTM)$169M

EPS (TTM)$2.24

Free Cash Flow (TTM)$200M

Gross Margin24.4%

Op. Margin11.0%

Net Margin3.9%

FCF Margin4.6%

P/S Ratio (TTM)0.8x

P/E Ratio (TTM)19.6x

YoY Rev Growth+0.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$986M	$220M	$66M
Q2 23	$1.0B	$247M	$79M
Q3 23	$1.1B	$268M	$91M
Q4 23	$1.1B	$198M	$35M
Q1 24	$1.1B	$221M	$72M
Q2 24	$1.1B	$251M	-$108M
Q3 24	$1.1B	$262M	$119M
Q4 24	$1.1B	$297M	$151M
Q1 25	$980M	$235M	$96M
Q2 25	$1.1B	$253M	-$120M
Q3 25	$1.1B	$262M	$119M
Q4 25	$1.2B	$311M	$383M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	0.8x	—
Q2 23	0.8x	—
Q3 23	0.8x	—
Q4 23	0.8x	—
Q1 24	0.8x	—
Q2 24	0.8x	—
Q3 24	0.8x	—
Q4 24	0.8x	36.0x
Q1 25	0.8x	28.3x
Q2 25	0.8x	25.1x
Q3 25	0.8x	25.1x
Q4 25	0.8x	19.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$120M	$97M
Q2 23	$80M	$66M
Q3 23	$147M	$99M
Q4 23	$8M	-$39M
Q1 24	$148M	$118M
Q2 24	$9M	-$14M
Q3 24	$107M	$69M
Q4 24	$80M	$49M
Q1 25	$123M	$82M
Q2 25	-$23M	-$58M
Q3 25	$25M	-$18M
Q4 25	$231M	$194M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$23M
Q2 23	$14M
Q3 23	$48M
Q4 23	$47M
Q1 24	$30M
Q2 24	$23M
Q3 24	$38M
Q4 24	$31M
Q1 25	$41M
Q2 25	$35M
Q3 25	$43M
Q4 25	$37M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+1.8%	-1.6%
Q2 23	-2.5%	-6.2%
Q3 23	+3.6%	+5.3%
Q4 23	-15.3%	-12.7%
Q1 24	+6.5%	+6.3%
Q2 24	+3.8%	+23.6%
Q3 24	+1.0%	-1.7%
Q4 24	+0.9%	-10.0%
Q1 25	-6.7%	-9.6%
Q2 25	+2.2%	+3.0%
Q3 25	+0.0%	+0.0%
Q4 25	+7.6%	-15.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$14M	1.4%
Q2 23	$19M	1.8%
Q3 23	$0	0.0%
Q4 23	$23M	2.1%
Q1 24	$10M	1.0%
Q2 24	$9M	0.8%
Q3 24	$9M	0.8%
Q4 24	$10M	0.9%
Q1 25	$9M	0.9%
Q2 25	$8M	0.7%
Q3 25	$8M	0.7%
Q4 25	$9M	0.8%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$18M	$133M	—
Q2 23	$19M	$147M	—
Q3 23	$17M	$153M	—
Q4 23	$23M	$152M	—
Q1 24	$17M	$127M	—
Q2 24	$11M	$126M	—
Q3 24	$16M	$122M	—
Q4 24	$19M	$83M	—
Q1 25	$17M	$119M	—
Q2 25	$17M	$113M	—
Q3 25	$16M	—	$127M
Q4 25	$18M	—	$132M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	1.8%	12.8%	14.5
Q2 23	-2.5%	13.5%	10.9
Q3 23	3.6%	14.9%	18.5
Q4 23	-15.3%	2.4%	-12.9
Q1 24	6.5%	14.1%	20.6
Q2 24	3.8%	16.9%	20.8
Q3 24	1.0%	17.6%	18.7
Q4 24	0.9%	19.4%	20.3
Q1 25	-6.7%	16.5%	9.9
Q2 25	2.2%	18.5%	20.7
Q3 25	0.0%	10.8%	10.8
Q4 25	7.6%	16.4%	23.9

Revenue Segments

Quarter	All other products and services	Recurring revenue	Product	Service
Q2 23	$310M	$730M	—	—
Q3 23	$302M	$765M	—	—
Q1 24	$287M	$763M	—	—
Q2 24	$288M	$793M	—	—
Q3 24	$288M	$790M	—	—
Q1 25	$238M	$742M	—	—
Q2 25	$331M	$773M	—	—
Q3 25	$338M	$783M	—	—
Q4 25	—	—	$302M	$850M

Revenue by Geography

Quarter	Apj	Americas (Excluding United States)	Emea	United States
Q2 23	$125M	$133M	$318M	$464M
Q3 23	$124M	$135M	$341M	$467M
Q1 24	$130M	$138M	$303M	$479M
Q2 24	$127M	$128M	$335M	$491M
Q3 24	$123M	$125M	$340M	$490M
Q4 24	$145M	$126M	$365M	$472M
Q1 25	$109M	$111M	$311M	$449M
Q2 25	$118M	$143M	$343M	$500M
Q3 25	$125M	$152M	$344M	$500M
Q4 25	$136M	$135M	$373M	$505M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$300M	$0	$300M
Q2 23	$337M	$0	$337M
Q3 23	$423M	$0	$423M
Q4 23	$339M	$0	$339M
Q1 24	$343M	$0	$343M
Q2 24	$623M	$0	$623M
Q3 24	$395M	$0	$395M
Q4 24	$419M	$0	$419M
Q1 25	$352M	$0	$352M
Q2 25	$636M	$0	$636M
Q3 25	$412M	$0	$412M
Q4 25	$456M	$0	$456M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	70M	-1.1%
Q2 23	70M	+0.0%
Q3 23	70M	+0.9%
Q4 23	71M	+0.2%
Q1 24	72M	+1.4%
Q2 24	74M	+2.9%
Q3 24	75M	+1.1%
Q4 24	75M	+0.7%
Q1 25	75M	+0.3%
Q2 25	75M	-0.4%
Q3 25	75M	-0.5%
Q4 25	76M	+2.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 20	—	—
FY 21	—	—
FY 22	—	—
FY 23	$210K	20K
FY 24	$216K	20K
FY 25	$218K	20K