NCR Voyix Corp (VYX) 2024 Q3 法說會逐字稿

Forward looking statements during this call speak only as of the day, you undertake no obligation to update them.

本次電話會議期間的前瞻性陳述僅代表當天的情況，您沒有義務更新它們。

In addition, we will be discussing in providing certain non-GAAP financial measures today, which we believe will provide additional clarity regarding our ongoing performance. For a full reconciliation of non-GAAP financial measures discussed in this call to the most comparable GAAP measure in accordance with SEC regulations.

此外，我們今天將討論提供某些非公認會計準則財務指標，我們相信這將使我們的持續表現更加清晰。為了將本次電話會議中討論的非 GAAP 財務指標與根據 SEC 法規的最具可比性的 GAAP 指標進行全面協調。

Please see our press release furnished as an exhibit on Form 8-K filed this morning and our supplemental materials available on the Investor Relations section of our website.

請參閱今天上午提交的 8-K 表格中隨附的新聞稿以及我們網站投資者關係部分提供的補充資料。

With that, I would now like to turn the call over to David.

有了這個，我現在想把電話轉給大衛。

David.

大衛.

Thanks, Alan, and good morning, everyone.

謝謝艾倫，大家早安。

I would like to welcome all of you to our third quarter 2024 earnings call.

歡迎大家參加我們的 2024 年第三季財報電話會議。

Before I begin, I'd like to welcome our newest executive vice president, Darren Wilson, to NCR voice. As you saw in our press release, Darren has joined to lead our international retail and restaurant businesses, primarily in Europe and Asia Pacific.

在開始之前，我謹歡迎我們最新的執行副總裁 Darren Wilson 加入 NCR 之聲。正如您在我們的新聞稿中看到的那樣，達倫 (Darren) 加入並領導我們的國際零售和餐飲業務，主要是在歐洲和亞太地區。

In this leadership position will allow us to focus on expanding our into national presence and restaurants and retail. I'll now spend a few moments discussing our recent progress on the digital banking and hardware transactions announced in August.

這一領導地位將使我們能夠專注於將我們的業務擴展到全國以及餐廳和零售業。現在，我將花一些時間討論我們在 8 月宣布的數位銀行和硬體交易的最新進展。

Before commenting on our recent business performance and the Company's go-forward objectives.

在評論我們最近的業務表現和公司的未來目標之前。

Brian will then review our financial results for the quarter and our outlook for the remainder of the year. Beginning with digital banking.

然後布萊恩將回顧我們本季的財務業績以及今年剩餘時間的前景。從數位銀行開始。

We completed the sale on September 30th ahead of expectations. This was an important step in our plans to simplify the business and significantly improve our balance sheet with $2.45 billion and gross sale proceeds.

我們於 9 月 30 日提前完成了銷售。這是我們簡化業務並顯著改善資產負債表（實現 24.5 億美元的銷售收入）計劃中的重要一步。

After estimated taxes and fees of $437 million, we utilized approximately $1.8 billion of proceeds to reduce our indebtedness.

扣除預計 4.37 億美元的稅費後，我們利用約 18 億美元的收益來減少債務。

Further positive impact of these actions reduced our annual cash interest expense by approximately $95 million.

這些行動的進一步正面影響使我們的年度現金利息支出減少了約 9,500 萬美元。

The remaining proceeds, the company intends to utilize approximately $100 million to complete repurchases of common stock under its existing share repurchase program, which has an aggregate repurchase authority of up to $153 million and had been previously outlined in our public finance.

剩下的收益，公司打算利用約1 億美元來完成其現有股票回購計劃下的普通股回購，該計劃的回購權限總計高達1.53 億美元，之前已在我們的公共財務中概述過。

We believe this is the best use of proceeds given our current valuation.

鑑於我們目前的估值，我們認為這是收益的最佳用途。

Brian will discuss the details of the remaining proceeds allocation later on the call for hardware, we anticipate the agreements to become affected by year end and will provide Anaconda certain transitional services until they are fully operational in 2025.

Brian 將在稍後的硬體徵集活動中討論剩餘收益分配的細節，我們預計這些協議將在年底前受到影響，並將為 Anaconda 提供某些過渡服務，直到它們在 2025 年全面運作。

In connection with the transaction, we have jointly notifying our affected employees who will be part of the new organization.

關於此交易，我們已聯合通知將成為新組織一部分的受影響員工。

As a reminder, we will continue to sell hardware to our customers as a sales agent and earn a commission on the sale. But all other aspects of the contracts, including design, manufacture, delivery and warranty, will be fulfilled by Amazon.

提醒一下，我們將繼續作為銷售代理向客戶銷售硬件，並賺取銷售佣金。但合約的所有其他方面，包括設計、製造、交付和保修，都將由亞馬遜履行。

Turning to our third quarter performance on a normalized basis, total revenue for the quarter was $708 million, a decline of 11%, driven primarily by lower hardware and hardware related install services.

就正常化基礎上的第三季業績而言，該季度總收入為 7.08 億美元，下降 11%，這主要是由於硬體和硬體相關安裝服務的下降所致。

Software and services revenue was flat when excluding the adverse impact of a onetime software to up from the prior year.

排除一次性軟體的不利影響後，軟體和服務收入與前一年持平。

Normalized adjusted EBITDA for the quarter was $101 million, driven by cost actions taken in the second quarter, coupled with sales mix.

在第二季採取的成本行動以及銷售組合的推動下，本季標準化調整後 EBITDA 為 1.01 億美元。

As of the third quarter, we had approximately 70,000 sites on our cloud native commerce platform, an increase of 25% from the prior year.

截至第三季度，我們的雲端原生商務平台上約有 7 萬個網站，比上年成長 25%。

Software ARR and total segment ARR. increased 2% in the quarter.

軟體 ARR 和總段 ARR。本季成長 2%。

Turning to our restaurant segment and the third quarter, we continued to demonstrate momentum signing more than 230 new software customers and increasing our platform and payment sites by 4% and 12%, respectively.

談到我們的餐廳部門和第三季度，我們繼續展現出強勁的勢頭，簽署了 230 多個新軟體客戶，並將我們的平台和支付站點分別增加了 4% 和 12%。

Software air are in total ARR both increased 1% in the quarter.

本季軟體空氣總 ARR 均成長 1%。

Within our enterprise division, we executed 11 renewal and expansion agreements.

在我們的企業部門內，我們簽署了 11 項續約和擴展協議。

These included converting existing software customers representing more than 350 sites to our cloud native commerce platform.

其中包括將代表 350 多個站點的現有軟體客戶轉換為我們的雲端原生商務平台。

For example, we converted cafe Rio and a low high user to the platform at the time of renewal.

例如，我們在續訂時將cafe Rio和低高用戶轉換為平台。

We also expanded our platform contract with hungry.

我們也擴大了與餓了麼的平台合約。

Jack's to now include our value added solution.

傑克現在包括我們的增值解決方案。

Under our new agreement on rejects, we will provide loyalty solutions for nearly 500 sites across Australia.

根據我們新的拒絕協議，我們將為澳洲近 500 個網站提供忠誠度解決方案。

For Services, we renewed and expanded our long-standing Help Desk contract with the global coffee chain.

在服務方面，我們續約並擴大了與全球咖啡連鎖店的長期服務台合約。

This quarter, we have extended our monitoring system services to their shops in Latin America while continuing to service their existing Sybase and the US and the UK.

本季度，我們將監控系統服務擴展到他們在拉丁美洲的商店，同時繼續為他們現有的 Sybase 以及美國和英國提供服務。

Finally, we continue to execute against our payments attach strategy, both for enterprise and mid-market restaurants.

最後，我們繼續針對企業和中端市場餐廳執行我們的付款附加策略。

This quarter, we expanded agreements with two existing enterprise software customers to provide end to end payment capabilities across nearly 40 sites.

本季度，我們擴大了與兩家現有企業軟體客戶的協議，在近 40 個站點提供端到端支付功能。

At our mid-market business.

在我們的中端市場業務中。

Our payments attach rate remained strong, with 97% of new customers attaching payments to the point of sale contracts and the third quarter.

我們的付款附加率仍然強勁，第三季有 97% 的新客戶在銷售點合約中附加付款。

As we move into 2025 and implement our new sales strategy to drive growth, we will focus aggressively on cross selling payments and to our existing base.

在進入 2025 年並實施新的銷售策略以推動成長時，我們將積極關注交叉銷售付款和現有基礎。

Turning to our retail segment.

轉向我們的零售部門。

This quarter, we signed two new enterprise customers and more than five mid-market customers, leading to nearly 3,000 additional sites.

本季度，我們簽署了兩位新的企業客戶和五個以上的中端市場客戶，增加了近 3,000 個站點。

We increased our platform sites by 47% as we continue to convert on-premise customers and onboard new assigned customers.

隨著我們不斷轉換本地客戶和新分配的客戶，我們的平台網站增加了 47%。

Software air our increased 2% and total ARR increased 3% in the quarter.

本季軟體空氣收入成長了 2%，總 ARR 成長了 3%。

And enterprise, we signed a new multi-year software and hosting services agreement with Endeavour Group, Australia's largest retail drinks network.

在企業方面，我們與澳洲最大的零售飲料網路 Endeavor Group 簽署了一項新的多年軟體和託管服務協議。

We will deliver our cloud, boosted point-of-sale software, posted loyalty solution, store insights and edge infrastructure via our e-commerce platform for over 4,000 lanes across more than 1,600 sites.

我們將透過我們的電子商務平台為 1,600 多個站點的 4,000 多個通道提供雲端、增強型銷售點軟體、發布忠誠度解決方案、商店洞察和邊緣基礎設施。

In addition, we will provide professional and implementation services for Endeavour Group.

此外，我們也將為奮進集團提供專業和實施服務。

We also demonstrated traction in our mid-market business this quarter, signing a new multi-year software and services agreement with Swedish that original convenience and fuel Bill Shea and U.S. under the agreement to deploy our point-of-sale and self-checkout software.

本季度我們也展示了我們的中端市場業務的吸引力，與瑞典簽署了一項新的多年軟體和服務協議，根據協議部署我們的銷售點和自助結帳軟體，為Bill Shea 和美國提供了最初的便利和動力。

In addition to our edge infrastructure on speedy stops existing third-party hardware devices, which will be able to significantly reduce their downtime and improve reliability.

除了我們的邊緣基礎設施快速停止現有的第三方硬體設備外，這將能夠顯著減少其停機時間並提高可靠性。

This win reflects our early success and our new go-to-market strategy.

這場勝利反映了我們早期的成功和新的市場進入策略。

Lastly, we renewed and expanded our agreement with the large US specialty closing stores.

最後，我們續簽並擴大了與美國大型專賣店關閉的協議。

In addition to converting this point-of-sale software customer into our cloud native commerce platform, we will also provide our loyalty and marketing solutions for their entire store footprint, which spans more than 1,500 lanes across 400 sites.

除了將該銷售點軟體客戶轉變為我們的雲端原生商務平台外，我們還將為其整個商店足跡提供忠誠度和行銷解決方案，該商店覆蓋 400 個站點的 1,500 多個車道。

Before I turn the call over to Brian, I would like to elaborate on my comments related to our go-to-market approach for next year.

在我把電話轉給布萊恩之前，我想詳細說明我對明年的市場進入方法的評論。

While much of the first half of 2024 was consumed with executing two major transactions for the company, the sale of the digital banking business and our hardware ODM and bring them a parallel restructuring effort was also underway to address top-line software and services group prior to 2020 for the Company, sales strategy was partial toward cross-selling and upselling the base versus attracting and signing new software and services customers.

雖然2024 年上半年的大部分時間都用於執行公司的兩項重大交易，但數位銀行業務和硬體ODM 的出售以及為他們帶來並行重組工作也在進行中，以解決之前的頂級軟體和服務團隊的問題。

We have now aligned our focus to drive balanced between ourselves and existing customers and capturing market share through new customers.

我們現在的重點是推動我們自己和現有客戶之間的平衡，並透過新客戶佔領市場份額。

Additionally, we have taken various steps to better align our organization to drive long-term growth in 2025 and beyond.

此外，我們也採取了各種措施來更好地調整我們的組織，以推動 2025 年及以後的長期成長。

The five key revenue growth actions are underway are as follows.

正在進行的五項主要收入成長行動如下。

First beginning in 2025, we will have restructured our sales teams and implemented a revised incentive compensation plan to address new customer growth and to expand market share across our channels.

首先從 2025 年開始，我們將重組我們的銷售團隊並實施修訂後的激勵薪酬計劃，以應對新客戶的成長並擴大我們各通路的市場份額。

Second, to support our go-to-market sales efforts, we are using a portion of the digital banking proceeds to invest in our solution sets for both restaurants and retail, which will accelerate our speed to market for IT and cloud solutions and enable us to capitalize on growth opportunities.

其次，為了支持我們的市場銷售工作，我們將使用數位銀行收益的一部分投資於我們的餐廳和零售解決方案集，這將加快我們的 IT 和雲端解決方案進入市場的速度，並使我們能夠利用成長機會。

Beginning in Q1, we will expand a little Homecloud to a broader segment of the domestic restaurant market during the year.

從第一季開始，我們將在年內將一點家庭雲擴展到更廣泛的國內餐飲市場。

We will continue to add a feature rich capability to our platform and retail.

我們將繼續為我們的平台和零售添加豐富的功能。

We are investing in edge and next-gen point-of-sale and self-checkout software solutions to acquire new customers and accelerate our efforts to migrate our existing customer base.

我們正在投資邊緣和下一代銷售點和自助結帳軟體解決方案，以獲取新客戶並加快遷移現有客戶群的努力。

This acceleration or free of engineering resources, managing legacy solutions can be redeployed elsewhere, lower our future capital spend and a stickier customer relationships over time.

這種加速或免去工程資源的管理遺留解決方案可以重新部署到其他地方，降低我們未來的資本支出，並隨著時間的推移建立更牢固的客戶關係。

Third, we're launching an aggressive program to expedite the contract renewals from existing customers while also converting their legacy software to our market-leading cloud solutions.

第三，我們正在啟動一項積極的計劃，以加快現有客戶的合約續簽，同時將他們的舊軟體轉換為我們市場領先的雲端解決方案。

This will be a multiyear initiative, which has been well received thus far.

這將是一項多年舉措，迄今已受到好評。

Fourth and fifth of our growth strategy related changes we have made to strengthen our senior organization, which will be critical to our sales execution, product delivery and customer satisfaction.

我們為加強我們的高階組織所做的第四和第五項與成長策略相關的變革，這對於我們的銷售執行、產品交付和客戶滿意度至關重要。

Beginning with executive leadership.

從行政領導開始。

As I stated earlier, Darren Wilson has been appointed President International with their leading our businesses in Europe.

正如我之前所說，達倫威爾遜 (Darren Wilson) 被任命為國際總裁，領導我們在歐洲的業務。

Japan and Asia-Pac will also allow us to have enhanced attention, our largest market, the Americas, as we focus on driving growth and expanding market share.

日本和亞太地區也將使我們更加關注我們最大的市場美洲，因為我們專注於推動成長和擴大市場份額。

And finally, we have attracted additional proven leaders to fill key roles across the border organization.

最後，我們吸引了更多經過驗證的領導者來填補跨境組織的關鍵角色。

Since Q2, we have replaced with new sales leaders in our US restaurant segment, hired a proven Head of Development for our retail product group and most recently added a seasoned and paying us professional to lead our expanded payments initiative next year.

自第二季以來，我們在美國餐廳部門更換了新的銷售領導者，為我們的零售產品團隊聘請了一位久經考驗的開發主管，最近又增加了一位經驗豐富的支付專業人士來領導我們明年擴大支付計劃。

In summary, while work remains, we had advanced plans to align our resources, products and incentives to position the Company to return to growth.

總之，在工作仍在進行的同時，我們制定了提前規劃，以調整我們的資源、產品和激勵措施，以使公司恢復成長。

With that, I will turn it over to Brian

有了這個，我會把它交給布萊恩

Thank you, David, and good morning, everyone.

謝謝大衛，大家早安。

For the sale of digital basing for full year results will reflect only the continuing operations of retail and restaurant segments.

對於全年數位基礎銷售業績將僅反映零售和餐飲部門的持續營運。

Digital Banking will be reflected as discontinued operations.

數位銀行將被反映為已終止的業務。

We will continue to support the visual baking business on a transitional basis for up to two years.

我們將繼續在過渡的基礎上支持視覺烘焙業務長達兩年。

From closing, Mike comments today will focus on our normalized results, which exclude the impact of the digital banking divesture, along with spin related items in other completed divestitures.

從交易結束後，麥克今天的評論將集中於我們的標準化結果，其中排除了數位銀行剝離以及其他已完成剝離中的旋轉相關項目的影響。

For the quarter, reported revenue was $711 million.

該季度報告收入為 7.11 億美元。

In normalized revenue was $708 million, reflecting a decline of 11%, driven primarily by an unusually weak year in hardware.

正常化營收為 7.08 億美元，下降 11%，這主要是由於今年硬體異常疲軟。

Sales.

銷售量。

Reported and normalized software revenue was $245 million, which decreased 2% versus prior year for the increased 2% when excluding the one-time software to up from Q3 2020.

報告的標準化軟體收入為 2.45 億美元，與前一年相比下降 2%，但不包括一次性軟體的收入較 2020 年第三季增長 2%。

Through this increase was driven by attachments to the cloud native platform.

這一增長是由雲端原生平台的附件所推動的。

Reported and normalized services revenue was $271 million, which decreased 3% due to lower hardware installations had a normalized basis.

報告和標準化服務收入為 2.71 億美元，由於標準化基礎上硬體安裝量減少，下降了 3%。

Adjusted EBITDA for the quarter was $101 million, while EBITDA was lower versus prior year due to spin related to synergies, we demonstrated a sequential improvement from Q2, which point we expect to show growth year over year.

本季調整後的 EBITDA 為 1.01 億美元，雖然由於與協同效應相關的旋轉， EBITDA 低於上年同期，但我們展示了較第二季度的連續改善，我們預計將出現同比增長。

As recorded adjusted EBITDA of EUR93 million was adversely impacted by $6 million of stranded costs related to digital basing.

根據記錄，調整後 EBITDA 為 9,300 萬歐元，受到與數位基礎相關的 600 萬美元擱淺成本的不利影響。

It did not qualify for discontinued operations in $2 million from delayed country exits related to the spin.

它不符合因分拆而延遲退出國家/地區而獲得的 200 萬美元的終止營運資格。

Adjusted EBITDA margin was 13.1% as reported 14.3% on a normalized basis.

調整後 EBITDA 利潤率為 13.1%，報告的標準化基礎為 14.3%。

Let's turn to our segment results for the quarter.

讓我們看看本季的部門業績。

Beginning with restaurants reported and normalized software revenue was $87 million, which was flat to prior year.

從餐廳開始，報告的標準化軟體收入為 8700 萬美元，與去年持平。

Reported normalized services revenue was $75 million, down 1%.

報告的標準化服務收入為 7500 萬美元，下降 1%。

Total segment revenue of 200 to $11 million declined 7% on a normalized basis, reflecting the continued declines in hardware.

分部總收入在 2 億至 1,100 萬美元之間，正常化基礎上下降了 7%，反映出硬體的持續下降。

Adjusted EBITDA of $66 million increased 27% and margin of 31.3%, expanded more than 800 basis points on a normalized basis.

調整後 EBITDA 為 6,600 萬美元，成長 27%，利潤率為 31.3%，在正常化基礎上成長超過 800 個基點。

This was primarily driven by increased efficiencies in sales mix.

這主要是由於銷售組合效率的提升所致。

Turning to retail, reported and normalized software revenue was $153 million, which declined 3% due to the onetime software true up of $10 million in Q3 2020.

轉向零售，報告和標準化軟體收入為 1.53 億美元，下降 3%，原因是 2020 年第三季一次性軟體真實收入增長了 1000 萬美元。

Through.

通過。

Excluding this impact, software revenue increased 3%.

排除此影響，軟體收入成長了 3%。

This is revenue was $193 million, a decrease of 3% due to lower one-time hardware installation services.

這筆收入為 1.93 億美元，由於一次性硬體安裝服務減少而下降了 3%。

Total revenue in retail declined 12% on a normalized basis due to a 28% decline in hardware sales.

由於硬體銷售下降 28%，零售總收入在正常基礎上下降了 12%。

Adjusted EBITDA of 100 to $8 million declined 12% in margin of 22.2% was flat on a normalized basis, driven by hardware declines in a onetime software tool.

調整後 EBITDA 為 100 美元至 800 萬美元，下降 12%，利潤率為 22.2%，在正常化基礎上持平，這是由於一次性軟體工具的硬體下降所致。

Excluding the impact of the trust, adjusted EBITDA declined 4% in margin expanded 140 basis points.

排除信託的影響，調整後 EBITDA 下降 4%，利潤率擴大 140 個基點。

Lastly, normalized corporate and other expense for the quarter were $73 million, which included $21 million of cellular dissynergies.

最後，本季正常化的公司和其他費用為 7,300 萬美元，其中包括 2,100 萬美元的蜂窩協同效應。

Turning to the seller of digital baking.

轉向數位烘焙賣家。

As we announced on September 30th, the Company completed the sale of exceeding $2.45 billion in gross proceeds.

正如我們在 9 月 30 日宣布的那樣，該公司完成了總收益超過 24.5 億美元的出售。

In conjunction with the closing, we utilized $1.84 billion to pay down our debts as follows.

在交易完成時，我們動用了 18.4 億美元來償還債務，具體如下。

$1.195 billion was used to pay down a portion of the bonds 100, $92.5 million to pay off our term loan A. and another $200 million was used to pay down the revolving credit facility in Finally, $251.5 million to pay off for our accounts receivable facility.

11.95 億美元用於償還債券 100 的一部分，其中 9,250 萬美元用於償還我們的定期貸款 A。 。

We ended the quarter with 1.6 times net leverage based on the $430 million of pro forma 2020 for adjusted EBITDA we shared on our last call.

基於我們在上次電話會議上分享的預期 2020 年調整後 EBITDA 的 4.3 億美元，本季末我們的淨槓桿率為 1.6 倍。

This leverage calculation excludes $375 million of cash for estimated digital, basically related cash tax payments.

此槓桿計算不包括估計數位化、基本上相關的現金稅款的 3.75 億美元現金。

Our net leverage has significantly improved since the second quarter, at which point our leverage was 4.1 times for the quarter.

自第二季以來，我們的淨槓桿率已顯著改善，此時我們的槓桿率為本季的 4.1 倍。

Free cash flow through the use of $45 billion included approximately $80 million of fees related to the digital banking and transaction in other strategic initiatives.

450 億美元的自由現金流包括約 8,000 萬美元與數位銀行和其他策略性舉措中的交易相關的費用。

Following the debt paydown subject to market conditions, we intend to use approximately $100 million of the proceeds to digital banking to complete the repurchase of common stock under our share repurchase program.

根據市場狀況償還債務後，我們打算將約 1 億美元的收益用於數位銀行業務，以完成股票回購計畫下的普通股回購。

In addition, the sale proceeds allow greater opportunity to invest in their solutions to support the strategic objectives David described earlier, we have allocated up to $20 million over the next one to two years to accelerate the launch of our next-gen cloud solutions to achieve our go-to-market initiatives.

此外，銷售收益提供了更多機會投資他們的解決方案，以支持David 先前描述的策略目標，我們已在未來一到兩年內撥款高達2000 萬美元，以加速推出我們的下一代雲端解決方案，以實現我們的市場推廣計劃。

Turning to our outlook, we are maintaining the 2020 for revenue and EBITDA guidance provided on our Q2 call.

談到我們的展望，我們維持第二季電話會議中提供的 2020 年收入和 EBITDA 指引不變。

While we were modestly ahead of expectations in Q three on both revenue and adjusted EBITDA, this was due to timing.

雖然我們第三季的營收和調整後 EBITDA 均略高於預期，但這是由於時機所致。

We continue to expect revenue for the year to be between 2.805 billion in 2,860,000,000.000.

我們繼續預計全年營收將在 28.05 億至 2,860,000,000.000 之間。

We adjust the EBITDA to be between EUR355 million is 335 million.

我們將 EBITDA 調整為 3.55 億歐元至 3.35 億歐元之間。

As a reminder, we will reinstate free cash flow and adjusted EPS guidance for 2025.

謹此提醒，我們將恢復 2025 年自由現金流和調整後的每股盈餘指引。

Before I conclude, I'd like to draw your attention to the supplementary pro forma information we have provided in connection with our earnings materials today.

在結束之前，我想提請您注意我們今天提供的與收益材料相關的補充預計資訊。

This information contains year-over-year compare listens to assist with modeling the Company on a go-forward basis, our 2025 performance will be compared to these pro forma 2024 results for 2020 for pro forma financials include $170 million of free cash flow.

此資訊包含逐年比較的信息，以協助公司在未來的基礎上進行建模，我們的 2025 年業績將與 2020 年的預計 2024 年業績進行比較，因為預計財務數據包括 1.7 億美元的自由現金流。

This does not include the $20 million of proceeds that we are allocating towards next-gen product acceleration, nor does it include the working capital benefit from the OEM model.

這不包括我們分配給下一代產品加速的 2,000 萬美元收益，也不包括 OEM 模式帶來的營運資金收益。

Our ODM model frees us up from purchasing finished goods inventory, which at the end of that third quarter was $89 million dispensing order January 2025 with DoD integrating that was expected some examples.

我們的 ODM 模式使我們免於購買成品庫存，截至第三季末，2025 年 1 月的分配訂單金額為 8,900 萬美元，國防部整合了一些範例。

With that, I will turn the call over to the operator to begin the question and answer session.

之後，我會將電話轉給接線生開始問答環節。

Operator?

操作員？

If you would like to ask a question at this time, please press star then the number one on your telephone keypad now and you will be placed in the Q in the order received.

如果您此時想提問，請按星號，然後按電話鍵盤上的數字 1，您將按照收到的順序被置於 Q 中。

Once again to ask a question at this time, press star then the number one on your telephone keypad.

此時要再提問，請按星號，然後按電話鍵盤上的數字 1。

Your first question comes from Mayank Tandon with Needham.

你的第一個問題來自 Mayank Tandon 和 Needham。

Your line is open.

您的線路已開通。

Thank you.

謝謝。

Good morning by David.

大衛早安。

I wanted to just touch on the platform strategy.

我只想談談平台戰略。

And so, I know that's been a big focus for you and you highlighted several conversions.

因此，我知道這一直是您關注的重點，並且您強調了一些轉換。

So, if I have my numbers right, I think you're at about 20% in terms of our platform across both retail and restaurants.

因此，如果我的數字正確的話，我認為就我們的零售和餐廳平台而言，您的比例約為 20%。

I just wanted to get a sense on how do you drive that conversion up over time?

我只是想了解如何隨著時間的推移提高轉換率？

What's a realistic target based on customer feedback as you've been having these conversations with customers? And then maybe you could square that with the impact on the P & L relative to the more traditional model of selling hardware, software and services

當您與客戶進行這些對話時，基於客戶回饋的現實目標是什麼？然後也許你可以將其與相對於更傳統的硬體、軟體和服務銷售模式對損益的影響進行比較

Good morning, Manyak.

早安，馬尼亞克。

And I know the platform strategy as we've described in and our previous releases and what we've seen in the results in terms of the platform side, growth is performing well and it's really a couple of things.

我知道我們在之前的版本中所描述的平台策略，以及我們在平台方面的結果中所看到的，成長表現良好，這確實是兩件事。

And we're driving it went as customers need new capabilities, all the new capabilities that we're delivering.

當客戶需要新功能，我們正在提供的所有新功能時，我們正在推動它的發展。

Our fees and through our platform. So, when we do new platform attach for not only seeing increased customer satisfaction and their ability to upgrade and use new capabilities.

我們的費用並通過我們的平台。因此，當我們進行新平台附加時，不僅可以看到客戶滿意度的提高，還可以看到他們升級和使用新功能的能力。

But we're also seeing an uplift in our ARR when we make that attachment, we are in about 20%.

但當我們進行該附件時，我們也看到 ARR 有所提高，約為 20%。

We're working aggressively in my prepared remarks, I talked about wanting to invest and we're aggressively going after couldn't renewals and conversions of our existing install base to trying to accelerate that, that platform conversion.

在我準備好的演講中，我們正在積極努力，我談到了想要投資，我們正在積極追求現有安裝基礎的更新和轉換，以試圖加速平台轉換。

So more to come on that.

所以還有更多的事情要做。

But we're seeing the economics play out in terms of going look at the cohorts of the customers that are coming on board.

但我們透過觀察即將加入的客戶群來看到經濟學的結果。

We're seeing the uplift upon immediate sign on.

我們立即登入後就看到了提升。

And then over time, we're seeing that increase in ARR with each customer can.

隨著時間的推移，我們發現每個客戶的 ARR 都在增加。

And I would just add that we get the RPU benefits in the air benefits, but we also get a margin benefit because software is our highest margin part of the business politically.

我想補充一點，我們在航空收益中獲得了 RPU 收益，但我們也獲得了利潤收益，因為從政治角度來看，軟體是我們業務利潤率最高的部分。

Then software subscription platform revenue has the highest margin,

然後軟體訂閱平台營收利潤率最高，

and it's a small percentage of total revenues now.

現在它只佔總收入的一小部分。

And that's why you're not seeing and drive the whole number.

這就是為什麼你看不到並推動整個數字的原因。

Yes, Meyer.

是的，邁耶。

But as we aggressively move that the more to the biopharma and see that at a bigger impact through our,

但隨著我們積極地將其更多地轉移到生物製藥領域，並透過我們的、

I'm hopeful that we'll stay tuned on that.

我希望我們能繼續關注這一點。

And then maybe for Brian, any directional guidance for fiscal 25, what type of seasonality would be reflecting in our models, both on the top line and also in terms of margin trajectory?

然後，也許對 Brian 來說，25 財年的任何方向性指導，我們的模型中會反映出什麼類型的季節性，無論是在營收或利潤率軌跡方面？

So any color you can provide on how we should frame 2025 given all the puts and takes, it would be helpful.

因此，您可以提供關於我們應如何規劃 2025 年的所有觀點的任何顏色，這都會有所幫助。

Yes.

是的。

So we're going to give guidance for 25 in February on our Q4 call.

因此，我們將在 2 月的第四季電話會議上給予 25 月的指導。

But consistent with what we said on the last call, we believe off the pro forma 2024.

但與我們在上次電話會議中所說的一致，我們相信 2024 年預計不會實現。

We've been describing that we can grow our venture.

我們一直在描述我們可以發展我們的企業。

Got it.

知道了。

Okay.

好的。

Thank you.

謝謝。

Your next question comes from Will Nance with Goldman Sachs.

您的下一個問題來自高盛的威爾·南斯。

Your line is open.

您的線路已開通。

I think I appreciate taking the question.

我想我很高興接受這個問題。

I appreciate all the details on some of the go-to-market restructuring and kind of growth-related investments that you guys are making.

我很欣賞你們正在進行的一些上市重組和與成長相關的投資的所有細節。

I was wondering if you could maybe talk about how you think about the pipeline to seeing those sort of play out and how we and the outside while we should be looking for in terms of KPI.s over the next few years to kind of measure the success of the go-to-market investments and next-gen investments that you're making.

我想知道您是否可以談談您如何看待這些事情的進展，以及我們和外部如何在未來幾年尋找 KPI 來衡量您正在進行的上市投資和下一代投資的成功。

Thanks.

謝謝。

Since the timing of those changes will be that we're making those changes internally.

因為這些更改的時間將是我們在內部進行這些更改的時間。

We've started the process of them are in the beginning of the year would accelerate that as of the inputs are to the end of the year after digesting the other two strategic initiatives that are underway.

我們在今年年初就開始了這一進程，在消化了正在進行的其他兩項戰略舉措後，我們將在年底加速這一進程。

So now all the management team's effort and attention has focused on those items that we outlined will enter next year.

因此，現在管理團隊的所有努力和注意力都集中在我們概述的明年將進入的專案上。

With that in place.

就這樣。

It's so we're executing the remainder of those changes to the balance of the year and will be in that formation or however, you want to describe that going into next year.

因此，我們正在對今年的剩餘時間執行其餘的更改，並將處於這種形式，或者但是，您想描述明年的情況。

The KPI.s, I look at our similar or the same as what we've described.

KPI，我認為與我們所描述的相似或相同。

This is our new go-to-market model will have a sense for our frontline sellers to drive new customer acquisitions.

這是我們新的進入市場模式，將為我們的第一線賣家推動新客戶的取得提供協助。

It will have the right incentives to drive attachment to the Platform segment, EBITDA that will drive renewal of existing contracts and and will drive add-ons to existing services.

它將有適當的激勵措施來推動對平台部分的依附，EBITDA將推動現有合約的更新，​​並將推動現有服務的附加服務。

So we feel like looking at new sites, payment sites, they are our will still be the right key metrics to continue to look at how I would just add it internally as we made the investments, we're very focused on our Allied.

因此，我們想看看新的網站、支付網站，它們仍然是我們的正確關鍵指標，以繼續研究如何在我們進行投資時在內部添加它，我們非常關注我們的聯盟。

And so that's a key metric for us.

所以這對我們來說是一個關鍵指標。

Got it.

知道了。

That's helpful.

這很有幫助。

Appreciate that.

很欣賞這一點。

And just maybe if you could give any context on how you're thinking about capital allocation over the next year, understanding the share repurchase today from the net proceeds from the sale.

也許您可以提供有關如何考慮明年資本配置的背景信息，了解今天從出售淨收益中回購的股票。

How are you thinking about organic cash flow generation and capital allocation next year?

您如何看待明年的有機現金流產生和資本配置？

Thanks.

謝謝。

Seth.

賽斯.

So we're pleased with what we've talked about today in our prepared remarks, how we've used the database, the proceeds to pay down debt, improve our leverage.

因此，我們對今天在準備好的發言中所討論的內容感到滿意，包括我們如何使用資料庫、償還債務的收益、提高我們的槓桿率。

We have lenders where we want it, and we see that staying around turns or the lower.

我們在我們想要的地方有貸款人，而且我們看到貸款人停留在輪流或更低的水平。

We also today announced, as you just mentioned, the share repurchase in the 20 million of investment to accelerate our next-gen off offerings.

正如您剛才提到的，我們今天也宣布了 2000 萬投資的股票回購，以加速我們的下一代發售。

And so we will execute those things that we announced today.

因此，我們將執行今天宣布的那些事情。

And then going forward, we see consistent with what we've been talking about, making sure we're investing in our products, software offerings to drive growth internally and then considering tuck-in acquisitions, if there's something we can go out and buy versus build on, that will be a consideration.

然後展望未來，我們看到的內容與我們一直在談論的一致，確保我們投資於我們的產品、軟體產品以推動內部成長，然後考慮進行收購，如果有什麼我們可以出去購買的話與構建相比，這將是一個考慮因素。

And then future share repurchase will work with our Board to evaluate and consider here right now, I think the focus is executing well.

然後未來的股票回購將與我們的董事會一起評估和考慮，我認為重點是執行得很好。

We've announced and then driving the cash flow in 2025 aluminum.

我們已經宣布並推動 2025 年鋁的現金流。

I appreciate all the color.

我欣賞所有的顏色。

Thanks.

謝謝。

Your next question comes from Matt Summerville with D.A. Davidson.

你的下一個問題來自 D.A. 的 Matt Summerville。戴維森。

Your line is open.

您的線路已開通。

Thanks.

謝謝。

A couple of questions.

有幾個問題。

First, maybe can you talk about what you're anticipating from an inflection standpoint and with respect to hardware, specifically, the dynamics you're seeing play out in the self checkout market as well as market share of their end?

首先，您能否從轉折點的角度談談您對硬體的預期，特別是您在自助結帳市場中看到的動態以及其終端的市場份額？

And then what customer feedback he's been on employee.

然後是他對員工的客戶回饋。

It's migrating to the ODM and then I have a follow-up.

它正在遷移到 ODM，然後我有後續行動。

Thank you.

謝謝。

So the hardware market, Matt, we see has been significantly down this year overall and then the total market.

因此，馬特，我們看到今年的硬體市場整體大幅下降，然後是整個市場。

So we see going into next year that a lot of that demand will push into next year that the capital projects that are on hold this year, we think some of that will carry over.

因此，我們認為進入明年，許多需求將推到明年，而今年擱置的資本項目，我們認為其中一些將延續下去。

So we I thought about hardware as end market demand being flat, maybe down a little on your point of sale being more probably more down than self checkout.

因此，我們認為硬體終端市場需求持平，可能會因銷售點的需求下降而比自助結帳更下降。

We see self checkout demand strong as we've described in the past and checkout process, a lot more than just hardware, the software and intellectual property that goes around how you have done retailer use that device to the year point of service for your customer.

我們看到自助結帳需求強勁，正如我們在過去和結帳流程中所描述的那樣，這不僅僅是硬體、軟體和智慧財產權，涉及零售商如何使用該設備為客戶提供年度服務點。

So as our customers continue to look at new ways to check out their customers and create experiences in the store, we think are some new self checkout, I'll call it.

因此，隨著我們的客戶繼續尋找新的方式來結帳並在商店中創造體驗，我們認為這是一些新的自助結帳方式，我稱之為。

The platform is well positioned to do that increase a lot of flexibilities beta testing out new capabilities and offer.

該平台處於有利位置，可以增加對新功能和產品進行 Beta 測試的大量靈活性。

So we're seeing a lot of strong demand for our self checkout software.

因此，我們看到對我們的自助結帳軟體的強烈需求。

I think we'll get some refresh self checkout hardware revenues that whole some services through through it as well.

我認為我們將獲得一些刷新的自助結帳硬體收入，並透過它來整合一些服務。

So what have you will all described as we think that is probably not going to fully recover, but we think flat, maybe slightly down what I think about the reaction of our customers to the ODM model.

所以你們都描述了什麼，因為我們認為這可能不會完全恢復，但我們認為持平，也許稍微低於我對客戶對 ODM 模式的反應的看法。

I have several customers.

我有幾個客戶。

I've heard from the teams that have been from our largest customers that there has been no, no negative impact has all been positive.

我從我們最大客戶的團隊那裡聽說，沒有任何負面影響，都是正面的。

They understand what we're trying to get done.

他們了解我們想要完成的任務。

They like the focus that we have on software and services.

他們喜歡我們對軟體和服務的關注。

And they largely see this as the next evolution from where we were before having outsource manufacturers who is taking that logical next step.

他們在很大程度上認為這是我們在外包製造商採取合乎邏輯的下一步之前的下一個演進。

So based allows us to provide a complete solution and then we'll leverage intercontinental film against that hardware.

如此基礎使我們能夠提供完整的解決方案，然後我們將利用洲際電影來對抗該硬體。

Got it.

知道了。

And then just as a follow-up, can you talk about in both retail and restaurants, particularly on the enterprise side of the business, what your net site count looks like, whether you're not adding customers and sites or not losing customers and site based on your performance year to date and in the third quarter overall, we're adding sites.

作為後續行動，您能否談談在零售和餐館方面，特別是在企業方面，您的網站數量是什麼樣的，無論您沒有增加客戶和網站，還是沒有失去客戶和根據您今年迄今為止的表現以及第三季的整體表現，我們正在添加網站。

So net-net adding in all of our segments.

因此，網路網路添加了我們所有的部分。

So I would tell you, we view, as we've described and you go to market model, we want to accelerate that rate, but it's a net a net add.

所以我想告訴你，我們認為，正如我們所描述的，你進入市場模型，我們希望加快這一速度，但這是一個淨增加。

We haven't seen any upticks in customer attrition analysis that we've done for continuing to add new customers in both of the businesses continue to migrate customers to the platform with renewals.

我們沒有看到客戶流失分析有任何上升，我們為繼續在這兩項業務中添加新客戶而進行的分析繼續將客戶遷移到續訂的平台。

So we feel we feel good about what we're doing.

所以我們對自己所做的事情感覺良好。

In terms of the net add, I wouldn't like to see that accelerate.

就淨增加而言，我不希望看到這種加速。

Your next question comes from Matt Ross well with RBC Capital Markets.

您的下一個問題來自加拿大皇家銀行資本市場部的馬特·羅斯（Matt Ross）。

Your line is open

您的線路已開通

throughout the morning.

整個早上。

Sort of following up on the on the hardware discussions.

有點像硬體討論的後續。

Could you sort of remind us of the current relationship between software and services growth and hardware and how that will change going into 25 with the ODM contract?

您能否提醒我們目前軟體和服務成長與硬體之間的關係，以及 ODM 合約進入 25 年後這種關係將如何變化？

So what I would say right now on the part of services that gets impacted by hardware in the lower hardware refresh that we've seen this year is the what we call the TSR installation revenue that we get from from implementing the hardware.

因此，我現在要說的是，在我們今年看到的較低硬體更新中受到硬體影響的服務部分，就是我們從實施硬體中獲得的 TSR 安裝收入。

That's 20% of services that the non-recurring part, 80% that's recurring, the ongoing support of our customers.

20% 的服務是非經常性部分，80% 是經常性服務，即我們客戶的持續支援。

So it's really that 20% that the tons are under pressure.

所以確實有 20% 的噸位面臨壓力。

We were not refreshing and doing installed projects and the software that general linkage between hardware and software, we we are breaking that linkage between hardware and software and our customers and the enterprise space typically have clearly move those almost independent of stadiums.

我們並沒有刷新和做安裝項目和軟體，硬體和軟體之間的一般聯繫，我們正在打破硬體和軟體之間的聯繫，我們的客戶和企業空間通常已經明顯地移動了那些幾乎獨立於體育場的設施。

And we're supporting that, that move with our edge platform and all of our next-gen software capabilities being born without announcing.

我們支持這一點，隨著我們的邊緣平台和我們所有下一代軟體功能的誕生而無需宣布。

So that sense, while that was an industry trend, that's where we're headed strategically, what I think the heart of what anytime allows us to do is stay focused on that software and then provide them our high-level fashion.

因此，從這個意義上說，雖然這是一種行業趨勢，但這就是我們的策略方向，我認為任何時候我們都能做的核心是專注於該軟體，然後為他們提供我們的高級時尚。

They can design the best hardware for the industry does serve with faster lead times, especially lower price points and the highest quality possible.

他們可以為行業設計最好的硬件，並以更快的交貨時間，特別是更低的價格和盡可能高的品質。

So we announced in the retail side, the Swedish snuff announcement was one where we're using their existing hardware and helping sweat the assets.

因此，我們在零售方面宣布，瑞典鼻煙的公告是我們使用他們現有的硬體並幫助利用資產的地方。

And we see that as part of our ongoing strategy will evolve.

我們認為，作為我們持續策略的一部分，這一點將會不斷發展。

Switching over to expenses, Shanda.

轉向支出，盛大。

Great.

偉大的。

Sort of margin quarter, especially in restaurants this year.

某種程度上是利潤率季度，尤其是今年的餐廳。

I'm wondering how much expense savings to use do you see remaining, especially now that kind of all the noise is moving away?

我想知道您認為還可以節省多少費用，尤其是現在所有噪音都已經消失？

And then where would you expect to see any savings?

那麼您希望在哪裡看到節省呢？

Would it be in segment liner would be down corporate and other?

它會在分段班輪中會被公司關閉還是其他？

Sure.

當然。

So on in Q2 and the Q2 call, we announced our $105 million cost cutting program that cut across payroll costs, non-payroll costs and then hand it to me or AR facility saving U.S. bank fees from doing that on those actions have largely been implemented in are behind us, and that's why we saw that up.

因此，在第二季和第二季電話會議中，我們宣布了1.05 億美元的成本削減計劃，該計劃削減了工資成本、非工資成本，然後將其交給我或AR 機構，從而節省了美國銀行的費用，這些行動已基本實施就在我們身後，這就是我們看到它的原因。

And even though one of the reasons from Q2 to Q3, we had a sequential improvement in EBITDA higher driven by those cost savings we still in year over year and up 35 million of a benefit from those actions in the rest were the lead into the pro forma view of 24 that we provided.

儘管從第二季到第三季的原因之一是，由於成本節約的推動，我們的EBITDA 連續改善，但我們仍然同比增長了3500 萬美元，而其餘的這些行動帶來了高達3500 萬美元的收益，成為行業領導者。

And so we get to the four 30 of adjusted EBITDA.

這樣我們就得到了 4 個 30 的調整後 EBITDA。

When we think about the on geographic geographies of those cards, it's helping the segments.

當我們考慮這些卡的地理分佈時，它正在幫助這些細分市場。

And in some of the Corporate and Other, we expect the corporate and other expenses to be on both reported and normalized, about 60 million in Q4.

在一些企業和其他支出中，我們預計第四季度的企業和其他支出將在報告和標準化方面約為 6000 萬美元。

So we'll see I am starting to see improvements there, but the actions really cut across all areas of the business and we're currently working additional plans for next year are mostly around non-payroll costs, where we're going to do further inventory reductions allowed that's going to be from insourcing certain functions.

因此，我們會看到我開始看到那裡的改進，但這些行動確實涉及業務的所有領域，我們目前正在製定明年的額外計劃，主要是圍繞非工資成本，我們將在這方面做進一步減少庫存可以透過內包某些職能來實現。

So not only do we save money, but we'll have more control over over some of those functions on into that.

因此，我們不僅可以省錢，而且可以更好地控制其中的一些功能。

And we'll talk more about that as we get into next year.

當我們進入明年時，我們將更多地討論這個問題。

Excellent.

出色的。

Thank you very much.

非常感謝。

Your next question comes from Charles and the Bob Evans with Stephens.

你的下一個問題來自查爾斯和鮑勃·埃文斯以及史蒂芬斯。

Your line is open.

您的線路已開通。

Good morning and thank you for taking my question.

早安，感謝您提出我的問題。

As we think about modeling the fourth quarter, I was wondering if you could give us a little color on on on the implied growth by segment.

當我們考慮對第四季度進行建模時，我想知道您是否能為我們提供一些有關按細分市場隱含增長的信息。

Sir, just some color overall, and then I'll talk about the segments.

先生，總體上講一些顏色，然後我會談論各個部分。

So overall, on software and services, we expect to be near the midpoint on the guidance.

因此，總體而言，在軟體和服務方面，我們預計將接近指導的中點。

And when it comes to hardware, we expect to be towards lower end, even though we over achieved in Q3, we given the backlog and visibility we have in Q2 four, we expect hardware will be on towards the lower end.

當談到硬體時，我們預計會走向低端，儘管我們在第三季度取得了超額的成績，考慮到第二季度第四季度的積壓和可見性，我們預計硬體將走向低端。

The good news on revenue overall, we still see the pro forma view that we gave on the last call me after 24 because even though hardware revenues down, we're getting a bit of a better margin on it.

整體收入方面的好消息是，我們仍然看到了 24 點後最後一次打電話給我時給出的預期觀點，因為儘管硬體收入下降了，但我們的利潤率有所提高。

So that the commissions on a pro forma view will be very similar to what we saw provided in the past.

因此，預計的佣金將與我們過去看到的非常相似。

When we think about the EBITDA, we expect EBITDA to be at the midpoint to slightly better than the midpoint of the range that we've given for the year.

當我們考慮 EBITDA 時，我們預計 EBITDA 將處於我們今年給出的範圍的中點或略好於中點。

So that in that, that shows more sequential improvement from Q3 into Q4.

因此，這表明從第三季到第四季有更多的連續改善。

When it comes to the segments, retail on software and services, revenue on is likely to be flattish in Q4 in EBITDA should be pretty consistent with Q3.

就軟體和服務零售領域而言，第四季的營收可能持平，EBITDA 應該與第三季相當一致。

And for restaurants, we take 1% to 2% growth in software and services and with EBITDA also consistent with Q3, a lot of the EBITDA improvement sequentially on as we get into Q4 will come from corporate and other.

對於餐廳來說，我們認為軟體和服務成長 1% 到 2%，且 EBITDA 也與第三季一致，進入第四季後，大部分 EBITDA 的改善將來自企業和其他方面。

Got it.

知道了。

Super helpful.

超有幫助。

Appreciate that color.

欣賞那個顏色。

And then a follow-up.

然後是後續行動。

I wanted to ask about your payment initiative and get a better sense for what types of clients you're targeting.

我想詢問您的付款計劃，並更了解您的目標客戶類型。

But your value proposition is to those clients and whether you could compete on price went up with the acquirers of some of your larger customers, slight easing overall churn?

但你的價值主張是針對這些客戶的，你是否可以在價格上與一些大客戶的收購者競爭，從而稍微緩解整體客戶流失？

Our payment strategy is twofold.

我們的支付策略是雙重的。

I'll say this one and the S and meeting space.

我會說這個以及 S 和會議空間。

So as we've described, SMB and mid-market, we have on high 90s, 97% last quarter attach rate of payments.

正如我們所描述的，中小型企業和中端市場，我們上個季度的支付率高達 90%，高達 97%。

So we're selling a complete solution.

因此，我們正在銷售完整的解決方案。

So very common in that segment of the market.

在該市場領域非常常見。

The value prop in that segment is one-stop shop.

此細分市場的價值支柱是一站式服務。

You get everything you need to run fewer small restaurant or your small stores with NCR voice, then we'll lending about moving up into the higher into the mid-market or even to enterprise value proposition really becomes again that total solution.

您可以獲得使用 NCR 語音經營更少的小餐館或小商店所需的一切，然後我們將提供有關進入中高端市場甚至企業價值主張的貸款，真正再次成為整體解決方案。

We think all of the handoffs between the point of sale, the payment acceptance of, I guess the the gateways that processors, that whole ecosystem benefits.

我們認為銷售點、支付接受之間的所有交接，我猜是處理器的網關，整個生態系統都會受益。

Well, when you have a single provider doing that, we likely in that case or not, but in any cheaper on the payment rate itself, where we get a better total cost of ownership for our customers is owning that whole thing into end with all the integrations and testing and certifications that need to be done.

好吧，當你有一個單一的提供者這樣做時，我們可能會在這種情況下或不會，但在支付率本身更便宜的情況下，我們為我們的客戶獲得更好的總擁有成本是擁有整個事情到最後需要完成的整合、測試和認證。

We end.

我們結束了。

But you have described in the past, in some cases, we're leveraging our own processing, take those other cases, we're leveraging partners.

但您過去曾描述過，在某些情況下，我們正在利用自己的處理能力，在其他情況下，我們正在利用合作夥伴。

So we believe that leveraging partners is a good way to go.

因此，我們相信利用合作夥伴是一個好方法。

And then that case, we'll be competitive on rate at the processing level, but win on ease of doing business and that total cost of ownership.

在這種情況下，我們將在處理等級的速率上具有競爭力，但在開展業務的便利性和總擁有成本方面獲勝。

Got it.

知道了。

Super helpful.

超有幫助。

Thank you.

謝謝。

Your next question comes from Kartik Mehta with Northcoast Research.

您的下一個問題來自 Northcoast Research 的 Kartik Mehta。

Your line is open.

您的線路已開通。

Good morning.

早安.

David, I wanted to ask you you talked a little bit about changing the confidence to boost for the sales force.

大衛，我想問你，你談到如何改變信心以增強銷售人員的能力。

And I know at times something like that could have a negative impact in the short term deposits in the long term.

我知道有時類似的事情可能會對短期存款產生長期負面影響。

I'm wondering, as you can implement that you've already implemented, have you seen any changes related to that or what you're anticipating or maybe how you how that might go help with a forecast?

我想知道，當您可以實現已經實現的內容時，您是否看到了與此相關的任何變化或您預期的變化，或者您可能會如何幫助進行預測？

Therefore, we've implemented pieces of it.

因此，我們已經實現了其中的一部分。

We are doing it in a way that minimizes the impact to the fourth quarter results.

我們這樣做的方式是盡量減少對第四季業績的影響。

The teams are very focused on delivering full.

團隊非常專注於全面交付。

We've described what Brian just described is our fourth quarter commitments.

我們已經描述了布萊恩剛才描述的我們第四季的承諾。

The real changes will take effect as we turn the calendar into January.

當我們把日曆轉到一月時，真正的變更就會生效。

We'll do a beginning of the year and beginning with the sales teams.

我們將從今年年初開始，從銷售團隊開始。

We are normal processes to go through all of the realignment of compensation plans in November, December as we finalize our 25 plan internally and with the Board, and then we'll start to turn that into real quarter.

當我們在內部和董事會最終確定 25 個計劃時，我們會在 11 月和 12 月按照正常流程完成所有薪酬計劃的調整，然後我們將開始將其轉化為實際季度。

There's another piece of work that we're doing around the processes internally to support the sales team so that we get the sales team singularly focused on selling and we can lift a lot of those support functions and move them to the right support team internally.

我們正在圍繞內部流程做另一項工作，以支援銷售團隊，以便我們讓銷售團隊專注於銷售，並且我們可以提升許多支援職能並將其轉移到內部正確的支援團隊。

All that work is underway now with the with the two goals and ready to go change, that there is that are happening inside the company in the central over that.

所有這些工作現在正在進行中，有兩個目標，並準備好進行變革，公司內部正在發生這些變化。

And great.

很棒。

It's great to see Darren join.

很高興看到達倫加入。

And I'm wondering where you see the best opportunity internationally or where guarantees is an opportunity, maybe geographically or from a product standpoint and it's early days for their entire IT?

我想知道您在國際上哪裡看到了最好的機會，或者在哪裡保證是一個機會，也許從地理上或從產品的角度來看，而且對於他們的整個 IT 來說現在還處於早期階段？

I won't.

我不會。

I won't say you've got the ScreenPlay and yet these things done a lot of great ideas.

我不會說你已經有了 ScreenPlay，但這些東西卻產生了許多很棒的想法。

I think when we looked at what's happening in Europe, what's happening in Japan and then I separate Japan from Asia Pacific and geographically, but we definitely will be that we have that business separated.

我認為，當我們看看歐洲正在發生的事情、日本正在發生的事情，然後我將日本與亞太地區和地理分開時，但我們肯定會將該業務分開。

So we've got a lot of opportunity, Japan.

日本，我們有很多機會。

I mean, that's our second largest country outside the US and getting critically focused on that.

我的意思是，這是我們除美國之外的第二大國，並且非常關注這一點。

We serve the largest retailers in advance of getting them move to the platform strategy and driving that in Europe.

我們為最大的零售商提供服務，幫助他們轉向平台策略並在歐洲推動這項策略。

We have a great installed base customers sending in Australia.

我們在澳洲擁有大量的客戶群。

We really will negotiate market.

我們真的會洽談市場。

So there is no I've got a couple of things.

所以我有幾件事。

We'll look at how does the job of getting customer to test the platform faster, like we've described in the other areas, still have both retail and restaurant responsibility.

我們將研究讓客戶更快地測試平台的工作，就像我們在其他領域所描述的那樣，仍然由零售和餐廳負責。

So we'll look at can we take our restaurant portfolio and expand it globally or prepayment opportunities, given the fact that obviously base and payment opportunities and the UK and other parts of the market, they eat potentially even in Japan.

因此，我們將考慮我們是否可以利用我們的餐廳組合並將其擴展到全球或預付款機會，因為顯然基礎和付款機會以及英國和市場的其他部分，他們甚至在日本也有可能吃飯。

And then we'll be exploring how do we get a mid-market offering with our mid-market offerings, largely driven by U.S. baseband market offer.

然後我們將探索如何透過我們的中端市場產品獲得中端市場產品，這主要是由美國基頻市場報價所驅動的。

So how do we look further market expansion and the team strong and and the rest of the world to?

那麼我們如何看待進一步的市場拓展和團隊的強大以及與世界其他地區的合作呢？

So Darren, if you look at some of those new avenues for growth while leveraging the existing team.

達倫，如果你在利用現有團隊的同時考慮一些新的成長途徑。

So everybody is excited about the they added there.

所以每個人都對他們添加的內容感到興奮。

And I like the focus that is striving to get settled their focus on international, but air combat and focus on what's happening in the retail restaurant business, specifically focused on the Americas.

我喜歡他們努力將注意力集中在國際上，但空戰以及零售餐飲業正在發生的事情，特別是美洲。

Perfect.

完美的。

Thanks.

謝謝。

Appreciate it.

欣賞它。

Your next question comes from Erik Woodring with Morgan Stanley.

您的下一個問題來自摩根士丹利的艾瑞克‧伍德林。

Your line is open.

您的線路已開通。

Yes, good morning.

是的，早安。

Thank you for taking my questions have to as well.

感謝您也提出我的問題。

And I apologize if I quantities were asking to start off for a second.

如果我要求先開始，我深表歉意。

David, I'd love to understand the message that you are sending to prospective new customers on why they should move over to NCR employers, right?

David，我很想了解您向潛在新客戶發送的訊息，說明他們為什麼應該跳槽到 NCR 雇主，對吧？

This is a new strategy or at least a change in strategy or at least a change in emphasis.

這是一個新的策略，或至少是策略的改變，或至少是重點的改變。

And I'm just wondering what's the value prop that you're leading with they had indeed the antenna solutions?

我只是想知道您所領導的天線解決方案的價值是什麼？

Or is it anything beyond that?

或是還有其他什麼嗎？

You're offering that maybe they couldn't get from their existing providers?

您提供的產品可能是他們無法從現有提供者獲得的？

And I have a heart attack.

我心臟病發作了。

And when you look at our history and heritage and market share in this and these industries, this our core businesses have been around retail and restaurants.

當你看到我們的歷史、傳統以及在這個和這些行業的市場份額時，我們的核心業務一直圍繞著零售和餐廳。

So the one of the thesis of emphasis that we gave is we're back to our core businesses and extremely focused on delivering an end and solution for retail and restaurant.

因此，我們強調的主題之一是我們回到了我們的核心業務，並極其專注於為零售和餐飲提供終端和解決方案。

We know the industry well, we know there are challenges.

我們非常了解這個行業，我們知道有挑戰。

So when we talk to new clients, there's one about the platform.

因此，當我們與新客戶交談時，就會涉及該平台。

We have great tech that provides all the capabilities that are required for your business in the running business.

我們擁有出色的技術，可以提供您的業務運作所需的所有功能。

The other side of that, as we have services capabilities that truly differentiate us most of our clients and the enterprise mid-market space, they're looking for a complete offering and then they'll want to happen, maintain it and make sure it's up and running and don't have the service capabilities and they need somebody that can scale with their business and grow with them as they grow.

另一方面，由於我們擁有真正使我們大多數客戶和企業中端市場空間脫穎而出的服務能力，他們正在尋找完整的產品，然後他們會想要發生、維護它並確保它是他們需要有人能夠隨著他們的業務擴展並隨著他們的成長而成長。

We grow with them and they can trust us to continue to deliver the platform itself.

我們與他們一起成長，他們可以相信我們會繼續提供平臺本身。

I'll talk a little of that architecture.

我將討論一下該架構。

They believe in the architecture of the platform strategy, the open nature of how we're delivering our solutions.

他們相信平台策略的架構以及我們交付解決方案的開放性。

And we allow not only our own technology or we're going to have great application for things like loyalty and payments and self checkout.

我們不僅允許我們自己的技術，而且我們還將在忠誠度、支付和自助結帳等方面有很好的應用。

They can also bring their own applications that we can plug in third party.

他們還可以帶來自己的應用程序，我們可以將其插入第三方。

So we have a good third-party ecosystem of partners that allow them to plug in.

因此，我們擁有良好的第三方合作夥伴生態系統，可以讓他們參與其中。

So we get flexibility to our customers.

因此我們為客戶提供了靈活性。

We don't have to lock them in, and it gives them a lot of opportunity to go explore and test out new offerings as they were looking to compete on differentiated solutions to their customers to us as consumers.

我們不必鎖定他們，這給了他們很多機會去探索和測試新產品，因為他們希望為他們的客戶和我們作為消費者提供差異化的解決方案。

So we go in with a full solution, the credibility and history of what we do and and our deep knowledge in our industry, along with the green tech platform is open.

因此，我們提供完整的解決方案，我們所做的事情的可信度和歷史，以及我們在行業中的深厚知識，以及開放的綠色技術平台。

Okay.

好的。

That makes a lot of sense.

這很有意義。

Thank you for that color around.

謝謝你周圍的顏色。

Maybe just as a follow up, can you maybe elaborate a bit on your capital allocation strategy?

或許作為後續行動，您能否詳細說明一下您的資本配置策略？

I'm just obviously, you now past the digital banking transaction, you're looking at closing via the hardware shift.

我很明顯，您現在已經完成了數位銀行交易，您正在考慮透過硬體轉換來完成交易。

Obviously, you talked about buybacks.

顯然，您談到了回購。

Maybe just help us understand the pace of those buyback.

也許只是幫助我們了解這些回購的節奏。

And then maybe what comes next, what's your leverage goal?

也許接下來會發生什麼，您的槓桿目標是什麼？

And how do we think about the capital raising capital allocation priorities?

我們如何看待募款配置的優先順序？

You certainly we cover this a little bit earlier, but I'll just reiterate that needs using the digital banking proceeds.

當然，我們之前已經介紹過這一點，但我只是重申需要使用數位銀行收益。

We leverage where we wanted to be.

我們利用我們想要達到的目標。

We'll keep it at 48 million share repurchase that we'll execute.

我們將執行 4,800 萬股股票回購。

And we also announced using 20 million of those proceeds to accelerate some of our offering investments.

我們也宣布使用其中的 2000 萬美元來加速我們的一些發行投資。

So that that's the uses that we know the majority of the digital banking proceeds will we think about go forward capital allocation basis, really consistent with what we talked about before, continuing to invest internally to support our offerings on and to drive growth.

因此，這就是我們所知的大部分數位銀行收益的用途，我們將考慮未來的資本配置基礎，這與我們之前討論的非常一致，繼續進行內部投資以支持我們的產品並推動成長。

And then looking at tuck-in acquisitions, we might make sense to buy something versus build it ourselves.

然後看看隱藏式收購，我們購買一些東西可能比自己建造更有意義。

And then lastly, any future share repurchase will evaluate and consider with our Board.

最後，任何未來的股票回購都將由我們的董事會進行評估和考慮。

And that's kind of what we talked about before right now, the focus is executing what we announced in January and the cash flow than either January 2025.

這就是我們之前討論過的，重點是執行我們 1 月宣布的內容以及 2025 年 1 月的現金流。

No data to you that anything that sort of said?

沒有任何數據告訴你類似的說法嗎？

That's the answer.

這就是答案。

Great.

偉大的。

Thanks so much.

非常感謝。

Has signed up a repeat question.

已註冊重複問題。

No.

不。

Your next question comes from Ian Zaffino with Oppenheimer.

您的下一個問題來自奧本海默的伊恩·扎菲諾。

Your line is open.

您的線路已開通。

Hey, good morning, guys.

嘿，早上好，夥計們。

This is as accounts on for Ian.

這是伊恩的帳目。

Thanks very much for taking my questions.

非常感謝您回答我的問題。

Just had one on the initiatives and investments you mentioned in the restaurant and retail businesses.

剛剛了解了您在餐廳和零售業務中提到的舉措和投資。

I guess, specifically for restaurants, maybe you could provide some high-level thoughts on what the investments with a tail and maybe how you're looking to position the segment relative your to your current market position and enterprise IT QSRs?

我想，特別是對於餐廳來說，也許您可以提供一些關於尾部投資的高層想法，以及您希望如何根據當前的市場地位和企業 IT QSR 來定位該細分市場？

Yes.

是的。

Thanks.

謝謝。

So the work that we're doing on the portfolio for restaurants is really accelerating what we would have had in our original roadmap.

因此，我們在餐廳產品組合方面所做的工作確實加速了我們最初路線圖的進度。

So pulling in some functionality to get a bar expansion, specifically in QSR in Q1 for we're looking to accelerate some of the value added capabilities on the on the platform.

因此，引入一些功能來實現欄擴展，特別是在第一季的 QSR 中，因為我們希望加速平台上的一些增值功能。

So that customers that have connected to the platform and giving them more that they can do through the platform with our investments that that is the focus.

因此，已經連接到該平台的客戶並透過我們的投資為他們提供更多可以透過該平台完成的事情，這才是重點。

Do you think about some of our capabilities like kitchen payments, menu management, back office.

您是否考慮過我們的一些功能，例如廚房支付、菜單管理、後台。

So those are the capabilities that we're looking to accelerate.

這些就是我們希望加速的能力。

And when we say accelerate that, the more of the cloud enablement, we've all we've clearly got those capabilities are legacy platform is really delivering those to our cloud platform and accelerating that migration to the platform where we're focused.

當我們說加速時，雲端支援越多，我們所擁有的所有功能顯然都是遺留平台真正將這些功能交付到我們的雲端平台，並加速遷移到我們關注的平台。

And then some of that will come in the form of aggressive marketing and commercial package as some of our customers to get them back faster.

然後，其中一些將以積極的營銷和商業套餐的形式出現，讓我們的一些客戶更快地回來。

Okay.

好的。

Thank you very much.

非常感謝。

At this time, it appears there are no further questions.

目前看來沒有其他問題了。

I'd like to turn the call back to NCROECEO. David Wilkinson.

我想將電話轉回給 NCROECEO。大衛威爾金森.

I'd like to close with just the thank you to our employees and try to have a great job of executing what is on paper, a really strong set of strategic initiatives and a solid performance for Q3.

最後，我想對我們的員工表示感謝，並努力出色地執行紙上的內容，制定一套非常強大的戰略舉措，並在第三季度取得穩定的業績。

As you that we described it a lot of work ahead of us.

正如您所描述的，我們還有很多工作要做。

So the teams will be very focused on delivering to our commitments to our customers.

因此，團隊將非常專注於履行我們對客戶的承諾。

Also like to thank our customers for the for the confidence that analysis and trusting us with their solution.

也要感謝我們的客戶對我們的分析和解決方案的信任。

We serve enterprise clients and mid-market clients and our mission critical to what they do every day.

我們為企業客戶和中端市場客戶提供服務，我們的使命對他們的日常工作至關重要。

And we don't take that that likely.

我們認為這種可能性不大。

So we appreciate the support we have from our clients and flat.

因此，我們感謝客戶和單位的支持。

Lastly, I would tell you that I'm really optimistic on the strategy that we have.

最後，我想告訴你們，我對我們的策略非常樂觀。

We laid out the pro forma and the last earnings release and the focus that we're driving as a company on-site software and services, the attention that were driving as a management team, the change that we've made, the leadership, what we're describing is going to set us up on a path and 25, like we said, to grow off of that base.

我們列出了預計和最後一次收益發布以及我們作為一家公司現場軟體和服務所推動的重點、作為管理團隊所推動的注意力、我們所做的改變、領導力、我們所描述的將幫助我們走上一條25條道路，就像我們所說的那樣，在這個基礎上成長。

So we will provide more color on that and we'll get into February.

因此，我們將在二月提供更多資訊。

But we feel good about the initiatives we're actually and we feel good about the platform momentum that we have, and we're appreciative of our existing customers to thank you for your time this morning.

但我們對我們實際採取的舉措感到滿意，對我們擁有的平台動力感到滿意，我們感謝現有客戶今天早上抽出寶貴的時間。

This concludes the NCRBOX. Third Quarter 2024 earnings call.

NCRBOX 到此結束。 2024 年第三季財報電話會議。

Thank you for attending and have a wonderful rest of your day.

感謝您參加並祝您度過愉快的一天。