v3.26.3
Segment Information and Concentrations (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Revenue and Operating Income by Segment
The following tables present revenue, significant expenses and Adjusted EBITDA by segment for the three and nine months ended September 30, 2026 and 2025.
In millionsFor the three months ended September 30, 2026
Self-Service Banking NetworkT&TTotal
Segment Revenue$731 $322 $41 $1,094 
Other (1)
5 
Consolidated Revenue$1,099 
Less:
Adjusted cost of products (2)
166 6 3 175 
Adjusted cost of services (2)
330 231 26 587 
Adjusted SG&A and R&D expenses (2)
45 19 3 67 
Other segment items (3)
(19)(25)(1)(45)
Total Segment Adjusted EBITDA$209 $91 $10 $310 
Reconciliation of Segment Adjusted EBITDA to Net income attributable to Atleos
Segment Adjusted EBITDA$310 
Less unallocated amounts
Corporate income and expenses not allocated to segments68 
Other income and expenses not allocated to segments1 
Interest expense61 
Interest income(2)
Income tax expense32 
Depreciation and amortization expense48 
Amortization of acquisition-related intangibles20 
Stock-based compensation expense9 
Acquisition-related costs6 
Transformation and restructuring6 
Voyix indemnification expense (4)
(9)
Legal settlements(31)
Other (income) expense items, net (5)
4 
Net income attributable to Atleos $97 
In millionsFor the three months ended September 30, 2025
Self-Service Banking NetworkT&TTotal
Segment Revenue$744 $328 $40 $1,112 
Other (1)
9 
Consolidated Revenue$1,121 
Less:
Adjusted cost of products (2)
190 12 1 203 
Adjusted cost of services (2)
326 224 27 577 
Adjusted SG&A and R&D expenses (2)
46 24 4 74 
Other segment items (3)
(14)(25)— (39)
Total Segment Adjusted EBITDA$196 $93 $8 $297 
Reconciliation of Segment Adjusted EBITDA to Net income attributable to Atleos
Segment Adjusted EBITDA$297 
Less unallocated amounts
Corporate income and expenses not allocated to segments78 
Interest expense68 
Interest income(2)
Income tax expense7 
Depreciation and amortization expense43 
Amortization of acquisition-related intangibles24 
Stock-based compensation expense8 
Separation costs1 
Acquisition-related costs3 
Transformation and restructuring11 
Voyix indemnification expense (4)
22 
Other (income) expense items, net (5)
8 
Net income attributable to Atleos $26 
In millionsFor the nine months ended September 30, 2026
Self-Service Banking NetworkT&TTotal
Segment Revenue$2,169 $939 $122 $3,230 
Other (1)
15 
Consolidated Revenue$3,245 
Less:
Adjusted cost of products (2)
489 24 6 519 
Adjusted cost of services (2)
1,007 640 82 1,729 
Adjusted SG&A and R&D expenses (2)
148 65 11 224 
Other segment items (3)
(55)(71)(1)(127)
Total Segment Adjusted EBITDA$580 $281 $24 $885 
Reconciliation of Segment Adjusted EBITDA to Net income attributable to Atleos
Segment Adjusted EBITDA$885 
Less unallocated amounts
Corporate income and expenses not allocated to segments220 
Other income and expenses not allocated to segments(2)
Interest expense186 
Interest income(6)
Income tax expense68 
Depreciation and amortization expense137 
Amortization of acquisition-related intangibles68 
Stock-based compensation expense26 
Acquisition-related costs16 
Transformation and restructuring11 
Voyix indemnification expense (4)
(3)
Legal settlements(31)
Other (income) expense items, net (5)
11 
Net income attributable to Atleos $184 
In millionsFor the nine months ended September 30, 2025
Self-Service Banking NetworkT&TTotal
Segment Revenue$2,099 $946 $124 $3,169 
Other (1)
33 
Consolidated Revenue$3,202 
Less:
Adjusted cost of products (2)
516 35 3 554 
Adjusted cost of services (2)
956 654 84 1,694 
Adjusted SG&A and R&D expenses (2)
135 67 13 215 
Other segment items (3)
(44)(75)(1)(120)
Total Segment Adjusted EBITDA$536 $265 $25 $826 
Reconciliation of Segment Adjusted EBITDA to Net income attributable to Atleos
Segment Adjusted EBITDA$826 
Less unallocated amounts
    Corporate income and expenses not allocated to segments233 
    Other income and expenses not allocated to segments(1)
    Interest expense204 
    Interest income(4)
    Income tax expense35 
    Depreciation and amortization expense129 
Amortization of acquisition-related intangibles71 
    Stock-based compensation expense25 
    Separation costs9 
    Acquisition-related costs4 
    Transformation and restructuring1 
    Voyix indemnification expense (4)
27 
    Other (income) expense items, net (5)
14 
Net income attributable to Atleos $79 
(1) Other revenue represents certain other immaterial business operations that do not represent a reportable segment and revenues from commercial agreements with Voyix.
(2) Adjusted cost of products, Adjusted cost of services and Adjusted SG&A and R&D expenses are determined by excluding, as applicable: acquisition-related costs, including costs related to the Brink’s transaction; pension settlements, pension curtailments and pension special termination benefits; separation-related costs; amortization of acquisition-related intangibles; transformation and restructuring charges (which includes integration, severance, divestiture and other exit and disposal costs); and other non-recurring or unusual items from the cost of products, cost of services, selling, general and administrative expenses (“SG&A”), and research and development expenses (“R&D”) as presented on the statement of operations. These amounts are presented consistent with how they are viewed by the CODM. The costs are calculated consistent with our definition of Adjusted EBITDA, which is our measure of segment profit or loss, except that these amounts include depreciation and amortization expense. We believe these measures are useful for investors because they may provide a more complete understanding of our underlying operational performance, as well as consistency and comparability with past reports of financial results.
(3) Primarily includes an adjustment for depreciation and amortization expense to reconcile segment results to Adjusted EBITDA, which is our segment measure of profit or loss.
(4) Represents our indemnification of certain legal and environmental remediation-related costs shared with Voyix. Refer to Note 8, “Commitments and Contingencies”, for further details on these matters.
(5) Includes certain income and expense items reported within Other income (expense), net on the Condensed Consolidated Statements of Operations, such as bank fees, the components of pension, postemployment and postretirement expense other than service cost, and the impact of foreign currency exchange rate fluctuations. Additional amounts reported in Other income (expense), net are separately captured in this reconciliation. Therefore, Other (income) expense items, net shown here will not agree to total Other income (expense), net on the Condensed Consolidated Statements of Operations.
Schedule of Revenues from Products and Services
The following table presents recurring revenue and all other products and services revenue that we recognize at a point in time:
In millionsThree months ended September 30,Nine months ended September 30,
2026202520262025
Recurring revenue (1)
$782 $783 $2,312 $2,296 
All other products and services317 338 933 906 
Total revenue$1,099 $1,121 $3,245 $3,202 
(1)Recurring revenue includes all revenue streams from contracts where there is a predictable revenue pattern that will occur at regular intervals with a relatively high degree of certainty. This includes hardware and software maintenance revenue, processing revenue, interchange and network revenue, Bitcoin-related revenue, and certain professional services arrangements, as well as term-based software license arrangements that include customer termination rights.
Schedule of Revenue by Geographic Area
Revenue is attributed to the geographic area to which the product is delivered or in which the service is provided. The following table presents our revenue by geographic area:
In millionsThree months ended September 30,Nine months ended September 30,
2026202520262025
United States (“U.S.”)$515 $500 $1,527 $1,448 
Americas (excluding U.S.)120 152 355 406 
Europe, Middle East and Africa338 344 1,004 996 
Asia Pacific126 125 359 352 
Total revenue$1,099 $1,121 $3,245 $3,202