Key Highlights

  • Revenue was $539 million, compared with $677 million a year earlier.
  • Software and services Revenue was $500 million, flat year over year.
  • Adjusted EBITDA was $120 million, compared with $123 million.
  • Non-GAAP diluted EPS was $0.32, compared with $0.30.

NCR Voyix Corporation (NYSE:VYX), a provider of software and services for retail, restaurant and hospitality businesses, reported third-quarter 2026 results. Revenue was $539 million, down from $677 million a year earlier, reflecting the company's Hardware Business Transition. Software and services revenue held at $500 million, and non-GAAP diluted EPS rose to $0.32 from $0.30.

Sector Context

Point-of-sale and commerce technology companies sell both software subscriptions and hardware terminals to merchants. Many are shifting toward software and services because Recurring Revenue is more predictable than one-time equipment sales. The transition can lower reported revenue even when the software business is consistent, because hardware sales fall away.

Merchant spending on technology depends on store openings, restaurant and retail Capital budgets and the pace of payment modernization. Competition from cloud-native platforms also shapes pricing across the sector.

Revenue Decline and the Hardware Transition

Revenue fell by $138 million, or about 20%, from $677 million to $539 million. The company attributed the decline to its Hardware Business Transition, which means lower sales of point-of-sale equipment rather than a decline in the software base.

Software and services revenue of $500 million was flat year over year, which isolates the effect of the hardware exit. Readers should therefore judge the core business on the flat software line rather than the headline revenue decline.

Profitability and Earnings

Adjusted EBITDA was $120 million, compared with $123 million. The small decline came even though revenue fell quickly, which indicates that the Margin on the remaining business improved as lower-margin hardware sales declined.

Non-GAAP diluted EPS of $0.32 compared with $0.30, an increase of about 7%. The release described the quarter as in line with management's expectations, and the EPS gain suggests lower costs or share count benefits offset the revenue decline.

Software and services represented about 93% of third-quarter revenue, compared with roughly 74% a year earlier, calculated from $500 million of software and services revenue against total revenue of $539 million and $677 million. That mix shift explains why the company's remaining business is now predominantly recurring in nature.

The decline in revenue of $138 million is equal to about 20% of the prior-year total, but adjusted EBITDA declined only about 2%. The contrast implies that the hardware sales removed from the revenue base carried a lower margin than the software and services business that remains.

Key Risks

Software revenue could slow if merchants delay upgrades or reduce spending. The transition from hardware may weigh on customer relationships or create execution risk. Competition from cloud-native providers could pressure pricing.

What to Watch Ahead

Investors will look for whether software and services revenue resumes growth, whether adjusted EBITDA holds near $120 million, and whether the margin gain from the hardware exit holds. Updates on customer retention and new software bookings will be central to the next report.