Diebold Nixdorf (DBD) investor relations material

Executive summary

• Revenue grew 6% year-over-year to $891.8 million in Q1 2026, with adjusted EBITDA up 14% to $99.1 million and backlog increasing sequentially to $790 million.

• Retail revenue surged 26.5% year-over-year, with North America up 70% from a small base and Europe delivering strong growth; banking revenue was flat or slightly down due to timing and lower European volumes.

• Free cash flow more than tripled year-over-year to $21 million, marking the sixth consecutive quarter of positive free cash flow.

• GAAP net income was $5.5 million, reversing a prior-year loss, and adjusted EPS rose to $0.67 from $0.37.

• Share repurchases totaled $55 million in Q1, with $117 million remaining under the $200 million program.

Financial highlights

• Non-GAAP gross margin expanded 10 bps year-over-year to 25.4%; product gross margin rose 60 bps to 26.3%.

• Adjusted EBITDA margin expanded 80 bps to 11.2%; non-GAAP operating profit increased 27% year-over-year to $61 million.

• Net cash from operating activities was $31.7 million, up from $15.7 million year-over-year.

• Net debt leverage ratio at 1.2x; liquidity of $680 million at Q1 end; net debt stood at $596.3 million.

• Returned $55 million to shareholders via share repurchases in Q1.

Outlook and guidance

• 2026 revenue guidance: $3.86–$3.94 billion, supported by $790 million backlog.

• Adjusted EBITDA projected at $510–$535 million; free cash flow forecasted at $255–$270 million, targeting 50%+ conversion.

• Adjusted EPS expected at $5.25–$5.75; positive free cash flow anticipated every quarter.

• Gross margin expected to rise 25–50 bps year-over-year; service margin to improve up to 50 bps.

• Management expects liquidity and available borrowing capacity to be sufficient for at least the next 12 months.