NCR Atleos Reports Strong Third Quarter 2025 Results Driven by Continued Growth in ATM Hardware and ATMaaS
NCR Atleos Corporation, a global leader in expanding self-service financial access for financial institutions, retailers, and consumers, today announced financial results for the third quarter ended September 30, 2025. The company reported strong growth across its hardware and ATM-as-a-Service (ATMaaS) businesses, delivering results at the high end of expectations and reinforcing its leadership position in self-service banking solutions.
Strong Financial and Operational Performance
For the third quarter of 2025, Net Income Attributable to Atleos increased 24% to $26 million, representing 2% of revenue, compared to $21 million, or 2% of revenue, in the same period last year. GAAP diluted earnings per share (EPS) rose 21% to $0.34, up from $0.28 in the prior year period.
Adjusted EBITDA grew 7% to $219 million, compared to $205 million a year ago, while Adjusted Diluted EPS increased 22% to $1.09, from $0.89 in the third quarter of 2024.
Total revenue for the quarter was $1.12 billion, a 4% increase or $48 million year over year, compared to $1.07 billion in the prior-year quarter. Of this, recurring revenue accounted for $783 million, highlighting the company’s growing base of multi-year service and software contracts.
Core revenue, which excludes business with Voyix, rose 6% to $1.11 billion, up from $1.05 billion a year earlier. This growth was primarily driven by robust performance in ATMaaS and increased demand for ATM hardware, partially offset by softer network transaction volumes impacted by U.S. immigration policy changes.
Expanding Market Leadership in Self-Service Banking
Commenting on the results, Tim Oliver, Chief Executive Officer of NCR Atleos, said:
“NCR Atleos delivered another strong quarter with financial results at the higher end of expectations as financial institutions and retailers continue to choose our differentiated and comprehensive self-service banking offerings. ATM hardware revenue grew an exceptional 24% year over year, further extending our leading global installed base and driving meaningful, multi-year recurring revenue from attached services and licensed software. Our ATMaaS business increased nearly 40% and welcomed its first customers in Latin America and the Middle East.”
Oliver emphasized that the company’s ongoing focus on operational excellence continues to resonate with customers:
“We continue to set the benchmark for service excellence with industry-leading service metrics. Our customers have recognized that commitment with a 30% improvement in our most recent Net Promoter Score — and with additional business. Whether financial institutions and retailers choose to join our shared financial utility network or outsource their self-service banking operations, Atleos delivers the most efficient, comprehensive, and reliable solution on the market.”
Operational Highlights
ATM Hardware Growth
ATM hardware revenue surged 24% year over year, driven by continued demand for secure and reliable self-service banking infrastructure. This growth further strengthens Atleos’ position as the world’s leading provider of ATM solutions.
ATMaaS Momentum
The ATMaaS business expanded nearly 40% year over year, reflecting growing adoption of Atleos’ subscription-based service model. The company also achieved a key milestone by signing its first ATMaaS customers in Latin America and the Middle East, extending its global footprint.
Service Excellence and Customer Satisfaction
Atleos continues to deliver best-in-class service performance, with improvements across key operational metrics. The company’s Net Promoter Score rose 30%, underscoring strong customer satisfaction and loyalty.
Profitability and Margin Expansion
Gross profit for the quarter increased 6% to $271 million, compared to $256 million in the prior year. Gross margin expanded by 30 basis points to 24.2%.
On an adjusted basis, Gross Profit was $297 million, up 6% from $280 million last year, while Adjusted Gross Margin improved 40 basis points to 26.5%, driven by a favorable mix of higher-margin hardware sales and ATMaaS growth, partially offset by increased cash vault interest expense.
