Diebold Nixdorf Incorporated Common stock

to ask a question, please press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. I'd now like to turn the call over to our host, Maynard Oum, Vice President of Investor Relations. Maynard, please go ahead.

Hello, everyone, and welcome to our third quarter 2025 earnings call. To accompany our prepared remarks, we posted our slide presentation to the Investor Relations section of our website. Before we start, I will remind all participants that you will hear forward-looking statements during this call. These statements reflect the expectations and beliefs of our management team at the time of the call, but they are subject to risks that could cause actual results to differ materially from these statements. You can find additional information on these factors in the company's periodic and annual filings with the SEC. Participants should be mindful that subsequent events may render this information to be out of date. We will also discuss certain non-GAAP financial measures on today's call. As noted on slide three, a reconciliation between GAAP and non-GAAP measures can be found in the supplemental schedules of the presentation. With that, I'll turn the call over to Octavio.

Thank you, Maynard. Good morning, everyone, and thank you for joining us. Starting on slide four, Q3 was another solid quarter for VWOL next year. I'm proud of our team's execution as we grew revenue, profit, and earnings per share. This morning, we also announced a new $200 million share repurchase program, reflecting our continued confidence in the strength and cash generation of our business. In Q3, we continue to see healthy demand across our business sector, giving us the confidence to reaffirm our full-year outlook. We continue to trend toward the higher end of our guidance ranges across total company revenue, adjusted EBITDA, and free cash flow. Product orders grew 25% year-over-year, driven by strength in both banking and retail, with backlog now standing at approximately 920 million. Total revenue grew 2% year-over-year and was up 3% sequentially, fueled by acceleration in our retail business and continued steady contributions from banking. Operating profit grew 4% year-over-year and 19% sequentially. while adjusted earnings per share grew to $1.39, up over $1 per share year-over-year, and up about 50% sequentially. Retail delivered particularly strong results in the quarter, as the second half recovery gained momentum. Revenue was up 8% year-over-year, and order entry grew 40%, reflecting solid demand and execution. I'm very optimistic about our retail growth trajectory going into Q4. We also achieved an important milestone this quarter, positive free cash flow for the fourth consecutive quarter, another new record for Diebold Next. In addition, we received a credit rating upgrade from standards and force. As I mentioned, we announced a new $200 million share repurchase program. This underscores the strength of our business, our fortress balance sheet, robust cash flow generation, and continued commitment to returning capital to shareholders, a top priority for us and a clear reflection of our confidence in the long-term value of Bevo Dixler. Let's move on to slide five. Three quarters into our three-year plan, we are firmly on track to deliver the key objectives we outlined at our investor day. In 2024, we stabilized the business and built strong operational teams. In 2025, we strengthened our foundation both operationally and financially with tangible improvements in manufacturing, service, and profitability. These gains have translated into sustainable, profitable growth and continued positive cash flow. We have multiple levers to achieve our targets, from operational and manufacturing efficiency to product and service innovation. to discipline capital allocation. As we already demonstrated, we have multiple ways to win across a dynamic market environment. We remain committed to our long-term goals, generating $800 million in cumulative free cash flow by 2027, achieving 60% plus conversion and approximately 15% adjusted EBITDA margins, all while maintaining a fortress balance sheet and returning capital to shareholders. With a clear strategy and a strong execution track record, Diebold Nixorf is well-positioned to deliver sustainable value for all stakeholders. Now, let's turn to slide six. Year-to-date, we've made significant progress across the four pillars of our growth strategy. In banking, our annual Intersect event in Nashville brought together hundreds of customers and marked the formal launch of our branch automation solution. This is not just a single product. It's a comprehensive approach across hardware, software, and services that redefines how banks operate by seamlessly integrating and automating digital and physical channels. As the banking landscape evolves, automation will be the defining factor for a bank's success. Roughly 70% of global bank operating expenses are tied to branches. Our solutions help banks reduce those costs enhance efficiency, and improve the customer experience. We continue to see steady refresh activity in ATM cash recyclers and have successfully rolled out seller cash recycling solutions to our first customers, reinforcing our confidence in the broader branch automation strategy. On the service side, leveraging common components between DM series ATMs and seller cash recyclers is driving greater efficiency, scale, and flexibility in how we support our customers. At the same time, our software enables seamless end-to-end cash management and integration into digital channels, helping banks modernize their operations. Together, these capabilities strengthen customer relationships and position us to capture the growing opportunity in branch automation. In retail, while the broader industry continues to face headwinds, Our retail product business is bucking that trend. We anticipated an inflection in the second half, and that's exactly what we're seeing. We have important new wins with key customers in the point-of-sale and self-checkout spaces as retailers maintain focus on optimizing and improving the customer experience. Feedback on our AI-powered dynamic smart vision deployment has been overwhelmingly positive, helping us differentiate from competitors and expand our pipeline. Our ability to rapidly develop, pilot, and most importantly, scale this technology is positioning us as an industry leader. Dynamic Smart Vision is now live in over 50 stores, and we're expanding the use cases to address shrinkage and point of sale in manned lanes with future opportunities to extend and tackle shrink across the store aisles. Our service organization continues to deliver. SLA performance has improved meaningfully versus last year. We accelerated investments in technology and people to deliver a premier service experience because great service drives customer loyalty and market share gains. As we've refined our branch automation solution strategy, customers are increasingly asking for a single provider to manage all their service needs. In line with our disciplined capital allocation strategy, we've completed a targeted tuck-in acquisition in the service area to enhance our multi-vendor capabilities. As we look at our operations, we have multiple ways to win. I'm proud to report that we saw strong progress in working capital with year-over-year improvements in both DSO and DIO. This highlights the strong cross-functional collaboration across the company. In our manufacturing operations, Our lead times are down, quality is up, and our supply chain execution remains a strength. North American operations are benefiting from higher throughput at our Ohio facility and increased sourcing of parts in the US. We are also on track to achieve at least $50 million in SG&A run rate reductions next year. Overall, the pillars of our company are strong and provide us with multiple ways to achieve our goals. Now on to slide seven. We continue to advance in our lean and continuous improvement journey. This approach now extends well beyond manufacturing, empowering teams across the organization to identify and act on new opportunities for efficiency and effectiveness. In Q3, our European operations held a Kaizen Week in France, resulting in safety improvements and an optimized invoicing process that accelerated collection. Our field and logistics teams also uncovered process improvements, including a redesign of our logistics network in France that is expected to generate meaningful cost savings and serve as a blueprint for other regions. In Paderborn, our teams focused on eliminating energy waste, implementing daily energy management programs and new LED lighting initiatives that will deliver immediate and growing savings over time. The facility also achieved ISO 50001 certification, underscoring our commitment to sustainability. I am pleased to share that Diebold Nixdorf was recently named one of the world's best companies by Time Inc. After a comprehensive analysis of employee satisfaction, revenue growth, and sustainability that included participants from thousands of global companies, Diebold Nixdorf earned a place in this prestigious annual list. My thanks go out to the talented global Nixdorf team. With one quarter left in 2025, we are well-positioned to finish another strong year, delivering on our commitments and continuing to create value for all stakeholders. With that, I'll turn it over to Tom to walk through our financial results.