NCR Atleos (NATL) Q4 2025 earnings summary

Executive summary

• Achieved strong financial performance in 2025, with significant growth in net income, cash flow, and recurring revenue streams.

• Completed separation from legacy company and entered into a definitive agreement to be acquired by The Brink's Company.

• Returned capital to shareholders through share repurchases totaling $44 million through February 2026.

Financial highlights

• 2025 total revenue rose 1% year-over-year to $4.35 billion, with 71% from recurring revenue streams.

• Net income attributable to shareholders doubled to $162 million, up 103% from 2024.

• Adjusted EBITDA increased 6% to $830 million; adjusted EBITDA margin expanded to 19.1%.

• Adjusted diluted EPS for 2025 was $4.13, up 24% year-over-year.

• Net cash from operating activities was $356 million; adjusted free cash flow reached $326 million, both up 35%.

Outlook and guidance

• No 2026 financial guidance issued due to pending acquisition by The Brink's Company; share repurchase program suspended.