Chris Senyek's questions to NCR Atleos (NATL) leadership • Q2 2025
Question
Chris Senyek of Wolfe Research inquired about the trends in ATM as a Service deals, specifically the mix between asset-heavy and asset-light models, and asked for guidance on margin cadence for the second half of the year.
Answer
President & CEO Tim Oliver explained that asset-light deals are more common in developed markets like North America, while asset-heavy deals are typical in regions like India. EVP & COO Stuart MacKinnon outlined the margin outlook, expecting sequential improvement in the Network segment and continued step-ups in Self-Service Banking margins through Q4. Tim Oliver added that significant productivity initiatives are helping drive margin expansion despite a higher hardware mix.