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Diebold Nixdorf (NYSE: DBD) grows Q2 revenue, EPS and reaffirms 2026 outlook

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Diebold Nixdorf reported solid results for the quarter ended June 30, 2026, with GAAP revenue of $930.8 million (non-GAAP revenue $927.6 million). GAAP net income was $16.2 million, and adjusted EBITDA reached $120.6 million, a 13.0% margin. GAAP EPS was $0.44, up from $0.33, while adjusted EPS was $1.10, up from $0.94.

Operating cash flow was a use of $13.6 million, with free cash flow (use) excluding discrete tax payments of $(11.0) million, reflecting inventory investment to support demand and German tax outflows. Cash and equivalents were $282.4 million and net debt $689.3 million. The company repurchased about $60 million of stock in the quarter and reaffirmed its 2026 outlook, including revenue of $3.86–$3.94 billion, adjusted EBITDA of $510–$535 million, free cash flow of $255–$270 million, and adjusted EPS of $5.25–$5.75. Retail revenue grew more than 20% year over year, Banking backlog increased sequentially, and management highlighted traction in strategic growth initiatives.

Positive

  • Adjusted EPS for Q2 2026 rose to $1.10 from $0.94, and adjusted EBITDA increased to $120.6M with margin expanding to 13.0%, indicating improved profitability.
  • The company reaffirmed full-year 2026 guidance, targeting $3.86–$3.94B revenue, $510–$535M adjusted EBITDA, $255–$270M free cash flow and $5.25–$5.75 adjusted EPS, suggesting confidence in its outlook.
  • Retail segment strength continued, with retail revenue up more than 20% year over year for the second consecutive quarter and European point-of-sale unit sales growing nearly 170% year over year.

Negative

  • Q2 2026 operating cash flow was a use of $13.6M, and free cash flow (use) excluding discrete tax payments was $(11.0)M, reflecting working capital investment and higher tax payments.
  • Net debt increased to $689.3M at June 30, 2026 (cash and equivalents $282.4M, debt instruments $971.7M), and cash declined from $387.3M at year-end 2025.
  • The company expects to pay about $50M of German cash taxes in 2026 attributable to 2024 and 2025, creating an additional near-term cash burden even though these amounts are excluded from free cash flow.

Filing Explained

Germany has become a cash-tax jurisdiction, with 2026 payments spanning three tax years and about $50 million excluded from free cash flow.

This Item 2.02 Form 8-K furnishes the company’s July 29, 2026 second-quarter results; the filing says the information is not deemed filed under Section 18 and is not incorporated into registration statements.

The company says Germany has become a cash-tax jurisdiction for its operations, requiring estimated payments in the third and fourth quarters of 2026 and cash taxes for the 2024, 2025, and 2026 tax years during 2026.

The filing presents free cash flow as a non-GAAP liquidity measure and excludes approximately $50 million of 2024 and 2025 German cash taxes from that measure; those taxes remain cash payments the company expects to make.

The non-core Turkey operation remains in a wind-down that the company expects to complete by the end of 2026, so that process is not yet complete.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Revenue (GAAP) $930.8 million Total net sales for the three months ended June 30, 2026
Q2 2026 Net Income (GAAP) $16.2 million Net income for the three months ended June 30, 2026
Q2 2026 Adjusted EBITDA $120.6 million Adjusted EBITDA with a 13.0% margin in Q2 2026
Q2 2026 GAAP EPS $0.44 Diluted earnings per share for the quarter, up from $0.33
Q2 2026 Adjusted EPS $1.10 Adjusted EPS excluding foreign exchange loss (gain), up from $0.94
Q2 2026 Operating Cash Flow $(13.6) million Net cash provided (used) by operating activities in Q2 2026
Free Cash Flow excl. discrete taxes, Q2 2026 $(11.0) million Free cash flow (use), excluding discrete tax payments, for Q2 2026
2026 Revenue Guidance $3.86B–$3.94B Reaffirmed total revenue outlook for full-year 2026
Net Debt $689.3 million Net debt at June 30, 2026, based on cash and debt instruments
Adjusted EBITDA financial
"Adjusted EBITDA grew 8% YoY, and adjusted EBITDA margin expanded by 80 bps YoY"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
free cash flow (use) financial
"free cash flow (use), excluding discrete tax payments (non-GAAP) of $(11.0) million"
non-GAAP financial
"To supplement our condensed consolidated financial information presented in accordance with GAAP, the Company considers certain financial measures that are not prepared in accordance with GAAP, including Non-GAAP results"
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
net debt financial
"Net debt (Non-GAAP measure) | $ | (689.3)"
Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.
Vynamic Smart Vision AI technical
"Signed Vynamic® Smart Vision AI deployment contracts for 1,400 new lanes across two large European grocers"
teller cash recyclers technical
"Shipped a record number of teller cash recyclers in the quarter, won major Branch Automation Solutions"
Revenue (GAAP) $930.8 million up 1.7% year over year
Net income attributable to Diebold Nixdorf (GAAP) $15.5 million up 27.0% year over year
Adjusted EBITDA $120.6 million up 8.5% year over year
GAAP EPS $0.44 increased from $0.33 in the prior year
Adjusted EPS (excluding FX) $1.10 increased from $0.94 in the prior year
Guidance

For full-year 2026, the company reaffirmed guidance of total revenue $3.86B–$3.94B, adjusted EBITDA $510M–$535M, free cash flow $255M–$270M, and adjusted earnings per share $5.25–$5.75.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did Diebold Nixdorf (DBD) perform financially in Q2 2026?
Diebold Nixdorf reported Q2 2026 GAAP revenue of $930.8 million and net income of $16.2 million. Adjusted EBITDA was $120.6 million (13.0% margin), with GAAP EPS of $0.44 and adjusted EPS of $1.10, both improving year over year.

What 2026 guidance did Diebold Nixdorf (DBD) reaffirm?
The company reaffirmed 2026 guidance for revenue of $3.86–$3.94 billion, adjusted EBITDA of $510–$535 million, free cash flow of $255–$270 million, and adjusted EPS of $5.25–$5.75. Management stated Q2 performance positions it to achieve these full-year objectives.

What was Diebold Nixdorf’s (DBD) cash flow and net debt position in Q2 2026?
In Q2 2026, operating cash flow was a use of $13.6 million, and free cash flow (use) excluding discrete tax payments was $(11.0) million. At June 30, 2026, cash and equivalents were $282.4 million and net debt was $689.3 million.

How are Diebold Nixdorf’s (DBD) Banking and Retail segments performing?
Retail revenue grew more than 20% year over year for the second straight quarter, including nearly 170% POS unit growth in Europe. In Banking, backlog grew sequentially, providing strong visibility for the second half of 2026 and supporting the full-year outlook.

What share repurchases did Diebold Nixdorf (DBD) execute in Q2 2026?
Diebold Nixdorf repurchased common shares totaling approximately $60 million during Q2 2026. After these repurchases, about $57 million remained available under the company’s $200 million share repurchase program, indicating ongoing capital return activity.

How will German tax payments affect Diebold Nixdorf (DBD) in 2026?
After using remaining German net operating loss carryforwards on the 2024 return, the company became a cash taxpayer in Germany. It expects cash taxes attributable to 2024 and 2025 of roughly $50 million in 2026, which are excluded from reported free cash flow.
0000028823False00000288232026-07-292026-07-29

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): 7/29/2026
Diebold Nixdorf, Incorporated
 
(Exact name of registrant as specified in its charter)
_________________________________________________ 
Delaware 1-4879 34-0183970
     
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer 
Identification No.)
     
350 Orchard Avenue NE   
North Canton, Ohio44720
     
(Address of principal executive offices)   (Zip Code)
Registrant's telephone number, including area code: (330) 490-4000
Not Applicable
 
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $0.01 par value per shareDBDNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02 Results of Operations and Financial Condition

On July 29, 2026, Diebold Nixdorf, Incorporated (the “Company”) issued a news release announcing its results for the second quarter of 2025 (the "News Release"). The News Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 2.02 shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits
  (d) Exhibits. 
   
Exhibit  
Number Description
99.1
News release of Diebold Nixdorf, Incorporated dated July 29, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
    
 Diebold Nixdorf, Incorporated
Date:July 29, 2026By:  /s/ Thomas S. Timko
  Name:  Thomas S. Timko
  Title:  Executive Vice President and Chief Financial Officer
(Principal Financial Officer)







dnlogo04a.jpg
Press Release
Media contact:Investor Contact:
Michael Jacobsen, APRMaynard Um
+1 330 490-4498investorrelations@dieboldnixdorf.com
michael.jacobsen@dieboldnixdorf.com    
FOR IMMEDIATE RELEASE:
July 29, 2026

Diebold Nixdorf Reports Second Quarter Financial Results; Company Grew Revenue, Adjusted EBITDA and Adjusted EPS
•Revenue grew more than 1% and order entry increased 3% YoY
•Net income grew 28% YoY, with net income margin expanding 30 bps YoY
•Adjusted EBITDA grew 8% YoY, and adjusted EBITDA margin expanded by 80 bps YoY
•Earnings per share grew 33% on a GAAP basis YoY, and grew 17% on a non-GAAP basis YoY
•Company reaffirms 2026 outlook

NORTH CANTON, Ohio - Diebold Nixdorf (NYSE: DBD), a world leader in transforming the way people bank and shop, today reported its 2026 second quarter financial results.

Second Quarter Financial Highlights
•Q2 '26 financial performance positions the company to achieve full-year objectives
◦Revenue (GAAP) of $930.8 million; revenue (non-GAAP) of $927.6 million
◦Net cash provided by (used in) operating activities (GAAP) of $(13.6) million; free cash flow (use), excluding discrete tax payments (non-GAAP) of $(11.0) million, driven by inventory to support increased demand
◦Net income (GAAP) of $16.2 million; adjusted EBITDA (non-GAAP) of $120.6 million
◦EPS of $0.44 (GAAP), increasing from $0.33 in the prior year; or $1.10 per share on an adjusted basis (non-GAAP), increasing from $0.94 in the prior year
•Repurchased common shares for approximately $60 million in the second quarter, with approximately $57 million remaining under the company's $200 million share repurchase program
•
Management Commentary
Octavio Marquez, Diebold Nixdorf president and chief executive officer, said: “We demonstrated the multiple avenues we have to drive performance across the business during the quarter. Our broad solutions portfolio helped us capture additional opportunities in Retail, grow our total backlog sequentially and position us to deliver in the second half of the year. Also, we saw meaningful traction in our strategic growth initiatives across both Banking and Retail, while maintaining consistent execution and cost discipline across our core operations. This combination reinforces confidence in our full-year financial outlook and our ability to deliver long-term shareholder value.”

Key Second Quarter Business Highlights
•Retail revenue grew more than 20% year-over-year for the second consecutive quarter, with double-digit increases across all geographies and point-of-sale unit sales growing nearly 170% YoY in Europe
•In Banking, backlog grew sequentially in the quarter, providing strong order visibility to the second half of 2026 supporting our full-year outlook for the business
•Shipped a record number of teller cash recyclers in the quarter, won major Branch Automation Solutions, cash management and service contracts
•Live with Vynamic® Transaction Middleware in some of the largest financial institutions in North America, processing millions of transactions daily
•VyStar Credit Union selected Diebold Nixdorf's Branch Automation Solutions to optimize its self-service network of over 200 advanced ATMs
•Won new business with a large fashion retailer in U.S. and Canada for RFID self-checkout deployment of hardware and software
•Signed Vynamic® Smart Vision AI deployment contracts for 1,400 new lanes across two large European grocers, representing largest new deployments to date

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Reaffirming Full-Year 2026 Financial Outlook

Current Guidance
Total Revenue$3.86B - $3.94B
Adjusted EBITDA1,2
$510M - $535M
Free Cash Flow1,2,3
$255M - $270M
Adjusted Earnings Per Share1,2
$5.25 - $5.75

1 - See Note 1 below for Non-GAAP adjustments to net sales, gross profit and operating expenses, which include selling and administrative expense, research, development and engineering expense, gain/loss on sale of assets, net, and impairment of assets, and Note 2 for adjusted EBITDA and adjusted net income (loss).

2 - With respect to the company’s adjusted EBITDA, free cash flow and adjusted earnings per share outlook for 2026, it is not providing reconciliations to the most directly comparable GAAP financial measures because it is unable to predict with reasonable certainty those items that may affect such measures calculated and presented in accordance with GAAP without unreasonable effort. These measures primarily exclude future restructuring and refinancing actions and net non-routine items. These reconciling items are uncertain, depend on various factors and could significantly impact, either individually or in the aggregate, operating profit and net income calculated and presented in accordance with GAAP.

3 - During Q2 2026, the Company timely filed its German corporate income tax return for the 2024 tax year. Due to increased profitability in our German legal entities, the Company’s remaining net operating loss carryforward was utilized on the 2024 return, and the Company paid its resulting 2024 discrete German tax liability during Q2 2026. As a result, the Company is now expected to be a cash taxpayer in Germany going forward, and it will be required to remit additional discrete German estimated tax payments during Q3 2026 and Q4 2026 for the 2024 and 2025 tax years. Consequently, the Company will be paying German cash tax attributable to three separate tax years (2024, 2025, and 2026) during 2026. Cash taxes paid during 2026 attributable to 2024 and 2025, estimated to total approximately $50 million, are and will be excluded from Free Cash Flow to better reflect underlying operating cash generation.

Overview Presentation and Conference Call
More information on Diebold Nixdorf's quarterly earnings is available on its Investor Relations website. Octavio Marquez, president and chief executive officer, and Tom Timko, executive vice president and chief financial officer, will discuss the company's financial performance during a conference call today, July 29, at 8:30 a.m. ET. The call and webcast are available at http://www.dieboldnixdorf.com/earnings. The replay of the webcast can be accessed on the website after the call.

About Diebold Nixdorf
Diebold Nixdorf, Incorporated (NYSE: DBD) automates, digitizes and transforms the way people bank and shop. As a leading global technology and services partner to many of the world’s top financial institutions and retailers, our integrated solutions connect digital and physical channels for consumers conveniently, securely and efficiently. The company has a presence in more than 100 countries with approximately 20,000 employees worldwide. Visit www.DieboldNixdorf.com for more information.

LinkedIn: www.linkedin.com/company/diebold
X: https://x.com/DieboldNixdorf
Facebook: www.facebook.com/DieboldNixdorf
YouTube: www.youtube.com/dieboldnixdorf


Page 2





Non-GAAP Financial Measures and Other Information
To supplement our condensed consolidated financial information presented in accordance with GAAP, the Company considers certain financial measures that are not prepared in accordance with GAAP, including Non-GAAP results, Non-GAAP operating profit margin, adjusted diluted earnings per share, free cash flow (use), net debt, EBITDA, and adjusted EBITDA. The Company uses these Non-GAAP financial measures, in addition to GAAP financial measures, to evaluate our operating and financial performance and to compare such performance to that of prior periods and to the performance of our competitors. Also, the Company uses these Non-GAAP financial measures in making operational and financial decisions and in establishing operational goals. The Company also believes providing these Non-GAAP financial measures to investors, as a supplement to GAAP financial measures, helps investors evaluate our operating and financial performance and trends in our business, consistent with how management evaluates such performance and trends. The Company also believes these Non-GAAP financial measures may be useful to investors in comparing its performance to the performance of other companies, although its Non-GAAP financial measures are specific to the Company and the Non-GAAP financial measures of other companies may not be calculated in the same manner. We provide EBITDA and adjusted EBITDA because we believe that investors and securities analysts will find EBITDA and adjusted EBITDA to be useful measures for evaluating our operating performance and comparing our operating performance with that of similar companies that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditure and working capital requirements. We consider free cash flow (use) to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business operations that, after the purchase of property and equipment, capitalized software development and other discrete items as determined by management, can be used for debt servicing, strategic opportunities, including investing in the business, making strategic acquisitions, strengthening the balance sheet, paying dividends, and repurchasing our common shares. For more information, please refer to the section, "Notes for Non-GAAP Measures."


Forward-Looking Statements

This press release may contain statements that are not historical information and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. These forward-looking statements include, but are not limited to, projections, statements regarding the Company's expected future performance (including expected results of operations), future financial condition, anticipated operating results, strategy plans, future liquidity and financial position.

Statements can generally be identified as forward looking because they include words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “will,” “estimates,” “potential,” “target,” “predict,” “project,” “seek,” and variations thereof or “could,” “should” or words of similar meaning. Statements that describe the Company's future plans, objectives or goals are also forward-looking statements, which reflect the current views of the Company with respect to future events and are subject to assumptions, risks and uncertainties that could cause actual results to differ materially. Although the Company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, the economy, its knowledge of its business, and key performance indicators that impact the Company, these forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed in or implied by the forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

The factors that may affect our results include, among others:
•the success of new products and services, including Branch Automation Solutions for banking, cash recycling technology and Vynamic Smart Vision technology;
•ability to successfully execute on our digitally enabled hardware, services and software strategy;
•ability to generate sufficient cash flows to service our indebtedness, fund our operations, make adequate capital investments and return capital to stockholders, including through discretionary share repurchases;
•the ultimate benefits of continuous improvement programs and other cost savings plans;
•the impact of competitive pressures, including pricing and the introduction of new products and services by our competitors, as well as from less traditional competitors;
•risks related to our international operations, including geopolitical instability and wars;
•developments from recent and potential changes to trade policies by the U.S. or other countries, including tariffs;
Page 3





•the impact of the proliferation of payment options other than cash, which could result in a reduced need for cash in the marketplace and a resulting decline in the usage of ATMs;
•the impact of general economic conditions, cyclicality and uncertainty;
•the impact of increased energy, raw material and labor costs;
•the impact of a cybersecurity incident or operational failure on our business;
•risks related to increasingly stringent laws, regulations and contractual obligations relating to privacy, data protection and information security;
•challenges associated with the use of artificial intelligence in our business and in solutions offered to our customers;
•reliance on suppliers, subcontractors and availability of raw materials and other components;
•reliance on third parties, including to provide security systems and systems integration as well as outsourced business processes and other financial services;
•ability to attract, retain and motivate key employees;
•the impact of additional tax expense or exposures;
•the potential for additional pension liability or expense associated with low investment performance by our pension plan assets;
•success in executing potential acquisitions, investments or partnerships and divestitures;
•the impact of market and economic conditions, including the bankruptcies, restructuring or consolidations of financial institutions, which could reduce our customer base and/or adversely affect our customers' ability to make capital expenditures, as well as adversely impact the availability and cost of credit;
•changes in political, economic or other factors such as currency exchange rates, inflation rates (including the impact of possible currency devaluations in countries experiencing high inflation rates), recessionary or expansive trends, disruption in energy supply, taxes and regulations and laws affecting the worldwide business in each of our operations;
•ability to maintain effective internal controls;
•the impact of regulatory and financial risks related to climate change;
•the impact of work stoppages or similar difficulties;
•the impact of an adverse determination that our services, products or manufacturing processes infringe the intellectual property rights of others, or our failure to enforce its intellectual property rights;
•exposure to liabilities under the Foreign Corrupt Practices Act (FCPA) or other worldwide anti-bribery laws;
•the effect of changes in law and regulations or the manner of enforcement in the United States and internationally and our ability to comply with applicable laws and regulations;
•the amount and timing of any repurchases of our common shares; and
•other factors included in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2025.

Except to the extent required by applicable law or regulation, the Company undertakes no obligation to update these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.

You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements.
Page 4






Summary Financial Results (Unaudited)


Three months endedSix months ended
($ in millions)June 30, 2026June 30, 2025% ChangeJune 30, 2026June 30, 2025% Change
Net cash provided (used) by operating activities$(13.6)$30.0 (145.3)$18.1 $45.8 (60.5)
Capital expenditures(7.8)(8.0)2.5 (13.4)(15.9)15.7 
Capitalized software development(7.5)(9.4)20.2 (12.9)(11.1)(16.2)
Free cash flow (use) (Non-GAAP measure)(28.9)12.6 (329.4)(8.2)18.8 (143.6)
Discrete tax payments1
17.9 — N/M17.9 — N/M
Free cash flow (use), excluding discrete tax payments (Non-GAAP measure)$(11.0)$12.6 (187.3)$9.7 $18.8 (48.4)
1 - During Q2 2026, the Company timely filed its German corporate income tax return for the 2024 tax year. Due to increased profitability in our German legal entities, the Company’s remaining net operating loss carryforward was utilized on the 2024 return, and the Company paid its resulting 2024 discrete German tax liability during Q2 2026. As a result, the Company is now expected to be a cash taxpayer in Germany going forward, and it will be required to remit additional discrete German estimated tax payments during Q3 2026 and Q4 2026 for the 2024 and 2025 tax years. Consequently, the Company will be paying German cash tax attributable to three separate tax years (2024, 2025, and 2026) during 2026. Cash taxes paid during 2026 attributable to 2024 and 2025, estimated to total approximately $50 million, are and will be excluded from Free Cash Flow to better reflect underlying operating cash generation.



Net income Summary - Unaudited
Three months ended
June 30, 2026June 30, 2025% Change
($ in millions)GAAP
Non-GAAP1
GAAP
Non-GAAP1
GAAPNon-GAAP
Services$552.4 $549.2$542.6$542.61.81.2
Products378.4 378.4372.6372.61.61.6
Total net sales$930.8 $927.6$915.2$915.21.71.4
Services$130.2 $136.6$130.6$138.4(0.3)(1.3)
Products109.4 108.7103.4104.35.84.2
Total gross profit$239.6 $245.3$234.0$242.72.41.1
Services23.6 %24.9 %24.1 %25.5 %(50)bps(60)bps
Products28.9 %28.7 %27.8 %28.0 %110 bps70 bps
Total gross margin25.7 %26.4 %25.6 %26.5 %10 bps(10)bps
Selling and administrative expense$162.3 $142.4 $154.2 $147.1 5.3(3.2)
Research, development and engineering expense20.5 20.5 22.4 22.2 (8.5)(7.7)
Other operating expenses (income)(0.6)0.1 1.2 0.3 N/M(66.7)
Operating expenses, net$182.2 $163.0 $177.8 $169.6 2.5(3.9)
Operating profit$57.4 $82.3 $56.2 $73.1 2.112.6
Operating margin6.2 %8.9 %6.1 %8.0 %10 bps90 bps
Net income attributable to Diebold Nixdorf$15.5 $36.5 $12.2 $22.5 27.062.2
Net income margin1.7 %3.9 %1.3 %2.5 %40 bps140 bps
Adjusted EBITDA$120.6 $111.2 8.5
Adjusted EBITDA margin13.0 %12.2 %
Page 5





Net income Summary - Unaudited
Six months ended
June 30, 2026June 30, 2025% Change
($ in millions)GAAP
Non-GAAP2
GAAP
Non-GAAP2
GAAPNon-GAAP
Services$1,089.2$1,082.5$1,051.1 $1,051.13.63.0
Products733.3733.3705.2 705.24.04.0
Total net sales$1,822.5$1,815.8$1,756.3$1,756.33.83.4
Services$250.9 $268.9$247.8 $266.11.31.1
Products201.7 201.9188.6 189.86.96.4
Total gross profit$452.6$470.8$436.4$455.93.73.3
Services23.0 %24.8 %23.6 %25.3 %(60)bps(50)bps
Products27.5 %27.5 %26.7 %26.9 %80 bps60 bps
Total gross margin24.8 %25.9 %24.8 %26.0 %— bps(10)bps
Selling and administrative expense$319.5 $284.7 $306.0 $292.4 4.4(2.6)
Research, development and engineering expense42.6 42.6 45.1 42.5 (5.5)0.2
Other operating expenses (income)0.5 0.4 (0.5)— N/MN/M
Operating expenses, net$362.6 $327.7 $350.6 $334.9 3.4(2.1)
Operating profit$90.0 $143.1 $85.8 $121.0 4.918.3
Operating margin4.9 %7.9 %4.9 %6.9 %— bps100 bps
Net income attributable to Diebold Nixdorf$20.5 $57.6 $3.9 $25.0 N/MN/M
Net income margin1.1 %3.2 %0.2 %1.4 %90 bps180 bps
Adjusted EBITDA$219.7 $198.5 10.7
Adjusted EBITDA margin12.1 %11.3 %
2 - See Note 1 below for GAAP to Non-GAAP adjustments to net sales, gross profit and operating expenses, which include selling and administrative expense, research, development and engineering expense, gain/loss on sales of assets, net, and impairment of assets.
Page 6





Gross Margin by Segment - Unaudited
Three months ended
June 30, 2026June 30, 2025
($ in millions)BankingRetailBankingRetail
GAAP
Non-GAAP3
GAAP
Non-GAAP3
GAAP
Non-GAAP3
GAAP
Non-GAAP3
Services$401.5 $398.3 $150.9 $150.9 $407.4 $407.4 $135.2 $135.2 
Products236.6 236.6 141.8 141.8 271.8 271.8 100.8 100.8 
Total net sales$638.1 $634.9 $292.7 $292.7 $679.2 $679.2 $236.0 $236.0 
Services$86.7 $94.1 $43.5 $42.5 $98.8 $103.4 $31.8 $35.0 
Products87.5 87.0 21.9 21.7 82.6 83.3 20.8 21.0 
Total gross profit$174.2 $181.1 $65.4 $64.2 $181.4 $186.7 $52.6 $56.0 
Services21.6 %23.6 %28.8 %28.2 %24.3 %25.4 %23.5 %25.9 %
Products37.0 %36.8 %15.4 %15.3 %30.4 %30.6 %20.6 %20.8 %
Total gross margin27.3 %28.5 %22.3 %21.9 %26.7 %27.5 %22.3 %23.7 %
Six months ended
June 30, 2026June 30, 2025
($ in millions)BankingRetailBankingRetail
GAAP
Non-GAAP3
GAAP
Non-GAAP3
GAAP
Non-GAAP3
GAAP
Non-GAAP3
Services$792.7 $786.0 $296.5 $296.5 $789.5 $789.5 $261.6 $261.6 
Products469.6 469.6 263.7 263.7 519.1 519.1 186.1 186.1 
Total net sales$1,262.3 $1,255.6 $560.2 $560.2 $1,308.6 $1,308.6 $447.7 $447.7 
Services$173.3 $186.2 $77.6 $82.7 $188.6 $196.8 $59.2 $69.3 
Products159.6 160.0 42.1 41.9 150.5 151.5 38.1 38.3 
Total gross profit$332.9 $346.2 $119.7 $124.6 $339.1 $348.3 $97.3 $107.6 
Services21.9 %23.7 %26.2 %27.9 %23.9 %24.9 %22.6 %26.5 %
Products34.0 %34.1 %16.0 %15.9 %29.0 %29.2 %20.5 %20.6 %
Total gross margin26.4 %27.6 %21.4 %22.2 %25.9 %26.6 %21.7 %24.0 %

3 - See Note 1 under Notes for Non-GAAP adjustments to net sales, gross profit and operating expenses, which include selling and administrative expense, research, development and engineering expense, gain/loss on sale of assets, net, and impairment of assets and Note 2 for adjusted EBITDA and net income (loss).
Page 7





DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES
STATEMENT OF FINANCIAL POSITION - UNAUDITED
(in millions)
 June 30, 2026December 31, 2025
ASSETS
Current assets
Cash, cash equivalents, and restricted cash$282.4 $387.3 
Short-term investments— 29.1 
Trade receivables, net of allowances573.4 609.4 
Inventories595.9 521.0 
Other current assets260.1 240.0 
Total current assets1,711.8 1,786.8 
Property, plant and equipment, net306.4 286.0 
Deferred income taxes102.9 105.0 
Goodwill627.8 642.4 
Customer relationships and other intangible assets, net743.2 792.4 
Other assets244.5 241.8 
Total assets$3,736.6 $3,854.4 
    
LIABILITIES AND EQUITY   
Current liabilities   
Accounts payable$506.2 $431.1 
Deferred revenue300.3 325.8 
Other current liabilities544.3 614.6 
Total current liabilities1,350.8  1,371.5 
   
Long-term debt942.9 938.5 
Other liabilities466.4 439.6 
Total Diebold Nixdorf shareholders' equity 969.2 1,099.9 
Noncontrolling interests7.3 4.9 
Total equity 976.5 1,104.8 
Total liabilities and equity$3,736.6 $3,854.4 
 

Page 8





DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES
STATEMENT OF EARNINGS (LOSS) - UNAUDITED
(in millions, except per share amounts)
Three months ended Six months ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net sales
Services$552.4 $542.6 $1,089.2 $1,051.1 
Products378.4 372.6 733.3 705.2 
Total930.8 915.2 1,822.5 1,756.3 
Cost of sales
Services422.2 412.0 838.3 803.3 
Products269.0 269.2 531.6 516.6 
Total691.2 681.2 1,369.9 1,319.9 
Gross profit239.6 234.0 452.6 436.4 
Gross margin25.7 %25.6 %24.8 %24.8 %
Operating expenses  
Selling and administrative expense162.3 154.2 319.5 306.0 
Research, development and engineering expense20.5 22.4 42.6 45.1 
Other operating expense (income)(0.6)1.2 0.5 (0.5)
Total182.2 177.8 362.6 350.6 
Percent of net sales19.6 %19.4 %19.9 %20.0 %
Operating profit57.4 56.2 90.0 85.8 
Operating margin6.2 %6.1 %4.9 %4.9 %
Other income (expense)
Interest income2.1 2.5 5.0 4.0 
Interest expense(24.1)(21.8)(47.4)(43.3)
Foreign exchange, net(2.4)(22.2)(4.8)(40.7)
Miscellaneous, net3.3 2.5 5.9 4.0 
Total other income (expense)(21.1)(39.0)(41.3)(76.0)
Income before taxes36.3 17.2 48.7 9.8 
Income tax expense19.2 4.8 25.0 2.6 
Equity in earnings (loss) of unconsolidated subsidiaries, net(0.9)0.3 (2.0)(1.9)
Net income16.2 12.7 21.7 5.3 
Net income attributable to noncontrolling interests0.7 0.5 1.2 1.4 
Net income attributable to Diebold Nixdorf$15.5 $12.2 $20.5 $3.9 
 
Basic weighted-average shares outstanding34.4 37.2 34.7 37.4 
Diluted weighted-average shares outstanding35.3 37.5 35.6 37.7 
Net income attributable to Diebold Nixdorf
Basic earnings per share$0.45 $0.33 $0.59 $0.10 
Diluted earnings per share$0.44 $0.33 $0.58 $0.10 



Page 9





DIEBOLD NIXDORF, INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED (in millions)

Six months ended
 June 30, 2026June 30, 2025
Cash flow from operating activities
Net income$21.7 $5.3 
Adjustments to reconcile net income to cash flow provided (used) by operating activities:
Depreciation and amortization62.2 65.1 
Amortization of deferred financing costs into interest expense3.3 3.1 
Share-based compensation7.4 6.3 
Deferred income taxes2.2 (8.8)
(Gain) loss on foreign currency translation(1.7)41.3 
Other1.5 0.1 
Changes in certain assets and liabilities:
Trade receivables26.8 33.4 
Inventories(82.8)5.0 
Accounts payable85.0 (66.7)
Deferred revenue(2.7)1.6 
Sales tax and net value added tax(30.1)(3.3)
Accrued salaries, wages and commissions(32.0)(20.5)
Income taxes(30.6)(17.1)
Certain other assets and liabilities(12.1)1.0 
Net cash provided by operating activities18.1 45.8 
Cash flow from investing activities
Capital expenditures(13.4)(15.9)
Capitalized software development(12.9)(11.1)
Net short-term investment activity28.8 (7.6)
Other investments2.2 1.8 
Net cash provided (used) by investing activities4.7 (32.8)
Cash flow from financing activities
Dividends paid to noncontrolling interest shareholder— (2.0)
Treasury share activity(121.0)(39.7)
Other(3.7)(2.4)
Net cash used by financing activities(124.7)(44.1)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(3.0)15.0 
Change in cash, cash equivalents and restricted cash(104.9)(16.1)
Cash, cash equivalents and restricted cash at the beginning of the period387.3 311.3 
Cash, cash equivalents and restricted cash at the end of the period$282.4 $295.2 
Page 10






Notes for Non-GAAP Measures
To supplement our condensed consolidated financial statements presented in accordance with GAAP, the company utilizes certain financial measures that are not prepared in accordance with GAAP, including Non-GAAP results, EBITDA and Adjusted EBITDA, adjusted earnings per share, free cash flow (use) and net debt.

Note 1. Profit and loss summary ($ in millions):

Three months ended June 30, 2026 compared to three months ended June 30, 2025.

Three months ended June 30, 2026
GAAPRestructuring and other savings initiative expensesNon-core Turkey operation activityNon-core Turkey operation impairmentOtherNon-GAAP Adjusted results
Services net sales$552.4 $— $(3.2)$— $— $549.2 
Product net sales378.4 — — — — 378.4 
Net Sales930.8 — (3.2)— — 927.6 
Services cost of sales422.2 (5.7)(3.9)— — 412.6 
Product cost of sales269.0 0.6 0.1 — — 269.7 
Cost of Sales691.2 (5.1)(3.8)— — 682.3 
Gross Profit239.6 5.1 0.6 — — 245.3 
% of Sales25.7 %26.4 %
Selling and administrative expense162.3 (14.5)(2.4)— (3.0)142.4 
Research, development and engineering expense20.5 — — — — 20.5 
Other operating expense (income)(0.6)— — 0.7 — 0.1 
Operating profit$57.4 $19.6 $3.0 $(0.7)$3.0 $82.3 
% of Sales6.2 %8.9 %


Three months ended June 30, 2025
GAAPRestructuring and other savings initiative expensesNon-core Turkey operation activityNon-core Turkey operation impairmentOtherNon-GAAP Adjusted results
Services net sales$542.6 $— $— $— $— $542.6 
Product net sales372.6 — — — — 372.6 
Net Sales915.2 — — — — 915.2 
Services cost of sales412.0 (7.8)— — — 404.2 
Product cost of sales269.2 (0.9)— — — 268.3 
Cost of Sales681.2 (8.7)— — — 672.5 
Gross Profit234.0 8.7 — — — 242.7 
% of Sales25.6 %26.5 %
Selling and administrative expense154.2 (6.3)— — (0.8)147.1 
Research, development and engineering expense22.4 (0.2)— — — 22.2 
Other operating expense (income)$1.2 (1.1)— — 0.2 0.3 
Operating profit$56.2 $16.3 $— $— $0.6 $73.1 
% of Sales6.1 %8.0 %




Page 11





Three months ended
June 30, 2026June 30, 2025
ServicesProductsTotalServicesProductsTotal
Gross Profit$130.2 $109.4 $239.6 $130.6 $103.4 $234.0 
Restructuring and other savings initiative expenses5.7 (0.6)5.1 7.8 0.9 8.7 
Non-core Turkey operation 0.7 (0.1)0.6 — — — 
Non-GAAP Adjusted Gross Profit$136.6 $108.7 $245.3 $138.4 $104.3 $242.7 
Non-GAAP Adjusted Gross Margin24.9 %28.7 %26.4 %25.5 %28.0 %26.5 %


Three months ended June 30, 2026Three months ended June 30, 2025
GAAPRestructuring and other savings initiative expensesNon-Core Turkey and otherNon-GAAPGAAPRestructuring and other savings initiative expensesNon-Core Turkey and otherNon-GAAP
Banking
Services net sales$401.5 — (3.2)$398.3 $407.4 — — $407.4 
Product net sales236.6 — — 236.6 271.8 — — 271.8 
Total Banking net sales$638.1 — (3.2)$634.9 $679.2 — — $679.2 
Services cost of sales$314.8 (7.0)(3.6)$304.2 $308.6 (4.6)— $304.0 
Product cost of sales149.1 0.4 0.1 149.6 189.2 (0.7)— 188.5 
Total Banking cost of sales$463.9 (6.6)(3.5)$453.8 $497.8 (5.3)— $492.5 
Services gross profit$86.7 7.0 0.4 $94.1 $98.8 4.6 — $103.4 
Product gross profit87.5 (0.4)(0.1)87.0 82.6 0.7 — 83.3 
Total Banking gross profit$174.2 6.6 0.3 $181.1 $181.4 5.3 — $186.7 
Services gross margin21.6 %23.6 %24.3 %25.4 %
Product gross margin37.0 %36.8 %30.4 %30.6 %
Total Banking gross margin27.3 %28.5 %26.7 %27.5 %
Retail
Services net sales$150.9 — — $150.9 $135.2 — — $135.2 
Product net sales141.8 — — 141.8 100.8 — — 100.8 
Total Retail net sales$292.7 — — $292.7 $236.0 — — $236.0 
Services cost of sales$107.4 1.3 (0.3)$108.4 $103.4 (3.2)— $100.2 
Product cost of sales119.9 0.2 — 120.1 80.0 (0.2)— 79.8 
Total Retail cost of sales$227.3 1.5 (0.3)$228.5 $183.4 (3.4)— $180.0 
Services gross profit$43.5 (1.3)0.3 $42.5 $31.8 3.2 — $35.0 
Product gross profit21.9 (0.2)— 21.7 20.8 0.2 — 21.0 
Total Retail gross profit$65.4 (1.5)0.3 $64.2 $52.6 3.4 — $56.0 
Services gross margin28.8 %28.2 %23.5 %25.9 %
Product gross margin15.4 %15.3 %20.6 %20.8 %
Total Retail gross margin22.3 %21.9 %22.3 %23.7 %





Page 12





Six months ended June 30, 2026 compared to six months ended June 30, 2025.

Six months ended June 30, 2026
GAAPRestructuring and other savings initiative expensesNon-core Turkey operation activityNon-core Turkey operation impairmentOtherNon-GAAP Adjusted results
Services net sales$1,089.2 $— $(6.7)$— $— $1,082.5 
Product net sales733.3 — — — — 733.3 
Net Sales1,822.5 — (6.7)— — 1,815.8 
Services cost of sales838.3 (17.3)(7.4)— — 813.6 
Product cost of sales531.6 0.1 (0.3)— — 531.4 
Cost of Sales1,369.9 (17.2)(7.7)— — 1,345.0 
Gross Profit452.6 17.2 1.0 — — 470.8 
% of Sales24.8 %25.9 %
Selling and administrative expense319.5 (26.5)(3.3)— (5.0)284.7 
Research, development and engineering expense42.6 — — — — 42.6 
Other operating expense (income)0.5 — — (4.8)4.7 0.4 
Operating profit$90.0 $43.7 $4.3 $4.8 $0.3 $143.1 
% of Sales4.9 %7.9 %

Six months ended June 30, 2025
GAAPRestructuring and other savings initiative expensesNon-core Turkey operation activityNon-core Turkey operation impairmentOtherNon-GAAP Adjusted results
Services net sales$1,051.1 $— $— $— $— $1,051.1 
Product net sales705.2 — — — — 705.2 
Net Sales1,756.3 — — — — 1,756.3 
Services cost of sales803.3 (18.3)— — — 785.0 
Product cost of sales516.6 (1.2)— — — 515.4 
Cost of Sales1,319.9 (19.5)— — — 1,300.4 
Gross Profit436.4 19.5 — — — 455.9 
% of Sales24.8 %26.0 %
Selling and administrative expense306.0 (13.1)— — (0.5)292.4 
Research, development and engineering expense45.1 (2.6)— — — 42.5 
Other operating expense (income)(0.5)(1.1)— — 1.6 — 
Operating profit$85.8 $36.3 $— $— $(1.1)$121.0 
% of Sales4.9 %6.9 %





Page 13





Six months ended
June 30, 2026June 30, 2025
ServicesProductsTotalServicesProductsTotal
Gross Profit$250.9 $201.7 $452.6 $247.8 $188.6 $436.4 
Restructuring and other savings initiative expenses17.3 (0.1)17.2 18.3 1.2 19.5 
Other0.7 0.3 1.0 — — — 
Non-GAAP Adjusted Gross Profit$268.9 $201.9 $470.8 $266.1 $189.8 $455.9 
Non-GAAP Adjusted Gross Margin24.8 %27.5 %25.9 %25.3 %26.9 %26.0 %

Six months ended June 30, 2026Six months ended June 30, 2025
GAAPRestructuring and other savings initiative expensesNon-Core Turkey and otherNon-GAAPGAAPRestructuring and other savings initiative expensesNon-Core Turkey and otherNon-GAAP
Banking
Services net sales$792.7 $— $(6.7)$786.0 $789.5 $— $— $789.5 
Product net sales469.6 — — 469.6 519.1 — — 519.1 
Total Banking net sales$1,262.3 $— $(6.7)$1,255.6 $1,308.6 $— $— $1,308.6 
Services cost of sales$619.4 $(12.5)$(7.1)$599.8 $600.9 $(8.2)$— $592.7 
Product cost of sales310.0 (0.1)(0.3)309.6 368.6 (1.0)— 367.6 
Total Banking cost of sales$929.4 $(12.6)$(7.4)$909.4 $969.5 $(9.2)$— $960.3 
Services gross profit$173.3 $12.5 $0.4 186.2 $188.6 $8.2 $— $196.8 
Product gross profit159.6 0.1 0.3 160.0 150.5 1.0 — 151.5 
Total Banking gross profit$332.9 $12.6 $0.7 $346.2 $339.1 $9.2 $— $348.3 
Services gross margin21.9 %23.7 %23.9 %24.9 %
Product gross margin34.0 %34.1 %29.0 %29.2 %
Total Banking gross margin26.4 %27.6 %25.9 %26.6 %
Retail
Services net sales$296.5 $— $— $296.5 $261.6 $— $— $261.6 
Product net sales263.7 — — 263.7 186.1 — — 186.1 
Total Retail net sales$560.2 $— $— $560.2 $447.7 $— $— $447.7 
Services cost of sales$218.9 $(4.8)$(0.3)$213.8 $202.4 $(10.1)$— $192.3 
Product cost of sales221.6 0.2 — 221.8 148.0 (0.2)— 147.8 
Total Retail cost of sales$440.5 $(4.6)$(0.3)$435.6 $350.4 $(10.3)$— $340.1 
Services gross profit$77.6 $4.8 $0.3 $82.7 $59.2 $10.1 $— $69.3 
Product gross profit42.1 (0.2)— 41.9 38.1 0.2 — 38.3 
Total Retail gross profit$119.7 $4.6 $0.3 $124.6 $97.3 $10.3 $— $107.6 
Services gross margin26.2 %27.9 %22.6 %26.5 %
Product gross margin16.0 %15.9 %20.5 %20.6 %
Total Retail gross margin21.4 %22.2 %21.7 %24.0 %

Restructuring and other savings initiative expenses incurred during 2026 and 2025 relate to the cost savings initiative focused on operational simplification and automation of processes, and include severance and payroll of employees transitioning out of the organization and the costs of third-parties assisting with the execution of the program.

Page 14





Note 2. Reconciliation of net income (loss) to EBITDA and Adjusted EBITDA (Non-GAAP measures) ($ in millions):
Three months endedSix months ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net income$16.2 $12.7 $21.7 $5.3 
Income tax expense19.2 4.8 25.0 2.6 
Interest income(2.1)(2.5)(5.0)(4.0)
Interest expense24.1 21.8 47.4 43.3 
Depreciation and amortization32.0 32.3 64.5 67.2 
EBITDA89.4 69.1 153.6 114.4 
Share-based compensation4.2 3.3 7.4 6.3 
Restructuring and other savings initiative expenses19.6 16.3 43.7 36.3 
Non-core Turkey operation4
2.3 — 9.1 — 
Foreign exchange loss (gain), net2.4 22.2 4.8 40.7 
Equity in earnings (loss) of unconsolidated subsidiaries, net0.9 (0.3)2.0 1.9 
Non-routine (income) expense, net1.8 0.6 (0.9)(1.1)
Adjusted EBITDA$120.6 $111.2 $219.7 $198.5 
   Adjusted EBITDA as a % of revenue13.0 %12.2 %12.1 %11.3 %
4 - In the first quarter 2026, the Company began to wind down operations of a non-core Turkey operation, which is expected to be completed by the end of 2026. Total net sales for this non-core Turkey operation accounted for 0.3% and 1.1% of total consolidated revenue and contributed a loss to adjusted EBITDA of ~(2.5%) and ~(0.6%) of total consolidated adjusted EBITDA for the three ended June 30, 2026 and 2025, respectively. Excluding net sales and adjusted EBITDA of the non-core Turkey business, revenue increased (decreased) by 2.4% and (3.6)%, and adjusted EBITDA increased (decreased) by 7.6% and (5.6)% for the three months ended June 30, 2026 and 2025, respectively.
Total net sales for this non-core Turkey operation accounted for 0.4% and 0.8% of total consolidated revenue and contributed a loss to adjusted EBITDA of ~(2.0%) and ~(0.7)% of total consolidated adjusted EBITDA for the six months ended June 30, 2026 and 2025, respectively. Excluding net sales and adjusted EBITDA of the non-core Turkey business, revenue increased (decreased) by 4.2% and (5.1)% and adjusted EBITDA increased (decreased) by 9.8% and (9.9%) for the six months ended June 30, 2026 and 2025, respectively.

The Company defines EBITDA as net income (loss) excluding income tax benefit (expense), net interest expense, and depreciation and amortization expense. Adjusted EBITDA is EBITDA excluding the effects of the following items: share-based compensation, foreign exchange loss (gain), net, equity in earnings (loss) of unconsolidated subsidiaries, net, restructuring and other savings initiative expenses, wind down of a non-core Turkey business operation, and other non-routine (income) expenses, net as outlined in Note 1 of the Non-GAAP measures.

Deferred financing fee amortization is included in interest expense; as a result, the company has excluded such fees from the depreciation and amortization caption. Depreciation and amortization includes $1.2 and $0.9 for the three months ended June 30, 2026 and 2025, respectively and $2.3 and $2.2 for the six months ended June 30, 2026 and 2025, respectively, of amortization of cloud-based software implementation which represents amortization of capitalized implementation costs related to cloud-based software arrangements that are included in selling and administrative expenses.

These are Non-GAAP financial measures used by management to enhance the understanding of our operating results. EBITDA and Adjusted EBITDA are key measures we use to evaluate our operational performance. We provide EBITDA and Adjusted EBITDA because we believe that investors and securities analysts will find EBITDA and Adjusted EBITDA to be useful measures for evaluating our operating performance and comparing our operating performance with that of similar companies that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditures, and working capital requirements. However, EBITDA and Adjusted EBITDA should not be considered as alternatives to net income as a measure of operating results or as alternatives to cash flows from operating activities as a measure of liquidity in accordance with GAAP.


Note 3. Net debt is calculated as follows ($ in millions):
June 30, 2026December 31, 2025June 30, 2025
Cash, cash equivalents, restricted cash and short-term investments (GAAP measure)$282.4 $416.4 $310.4 
Debt instruments(971.7)(970.7)(966.5)
Net debt (Non-GAAP measure)$(689.3)$(554.3)$(656.1)

We believe that cash, cash equivalents, restricted cash, and short-term investments on the balance sheet that net cash against outstanding debt, presented as net debt above, is a meaningful measure.

Page 15





Note 4. Reconciliation of GAAP net income (loss) attributable to Diebold Nixdorf, Incorporated to adjusted net income (loss) attributable to Diebold Nixdorf, Incorporated:
Three months ended
June 30, 2026June 30, 2025
($ in millions, except per share data)$
EPS5
$
EPS5
Net income$16.2 $0.46 $12.7 $0.34 
Net income attributable to noncontrolling interests0.7 0.02 0.5 0.01 
Net income attributable to Diebold Nixdorf$15.5 $0.44 $12.2 $0.33 
Restructuring and other savings initiative expenses19.6 0.56 16.3 0.43 
Non-core Turkey operation2.3 0.07 — — 
Other1.8 0.05 0.6 0.02 
Tax impact of Non-GAAP adjustments(2.7)(0.08)(6.6)(0.18)
Total adjusted net income (Non-GAAP measure)$37.2 $1.05 $23.0 $0.61 
Net income attributable to noncontrolling interests0.7 0.02 0.5 0.01 
Total adjusted net income attributable to Diebold Nixdorf, Incorporated (Non-GAAP measure)$36.5 $1.03 $22.5 $0.60 
Foreign exchange loss (gain), net6
2.4 0.07 22.2 0.59 
Tax impact of foreign exchange gain (loss)(0.2)(0.01)(9.5)(0.25)
Total adjusted net income attributable to Diebold Nixdorf, Incorporated excluding foreign exchange loss (gain), net (Non-GAAP measure)$38.7 $1.10 $35.2 $0.94 

Six months ended
June 30, 2026June 30, 2025
($ in millions, except per share data)$
EPS5
$
EPS5
Net income (loss)$21.7 $0.61 $5.3 $0.14 
Net income attributable to noncontrolling interests1.2 0.03 1.4 0.04 
Net income (loss) attributable to Diebold Nixdorf$20.5 $0.58 $3.9 $0.10 
Restructuring and other savings initiative expenses43.7 1.23 36.3 0.96 
Non-core Turkey operation9.1 0.26 — — 
Other(0.9)(0.03)(1.1)(0.03)
Tax impact of Non-GAAP adjustments(14.8)(0.42)(14.1)(0.37)
Total adjusted net income (Non-GAAP measure)$58.8 $1.65 $26.4 $0.70 
Net income attributable to noncontrolling interests1.2 0.03 1.4 0.04 
Total adjusted net income attributable to Diebold Nixdorf, Incorporated (Non-GAAP measure)$57.6 $1.62 $25.0 $0.66 
Foreign exchange loss (gain), net6
4.8 0.13 40.7 1.08 
Tax impact of foreign exchange gain (loss)(0.2)(0.01)(17.5)(0.46)
Total adjusted net income attributable to Diebold Nixdorf, Incorporated excluding foreign exchange loss (gain), net (Non-GAAP measure)$62.2 $1.75 $48.2 $1.28 
5 - Calculated using company diluted weighted average shares over the period. Subtotal differences may occur due to rounding.
6 - The foreign exchange (loss) gain, net is primarily driven by non-dollar intercompany loans (BRL and EUR) on USD functional entities which have generated non-cash unrealized losses due to a weakening dollar and did not impact core operations.

PR_26-4215
Page 16

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