TM Unified Commerce Cloud Platform May 2022 Forward-Looking Statements. This presentation contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature, but rather are predictive of our future operations, financial condition, financial results, business strategies and prospects. F ...

Par Technology Corporation (NYSE:PAR) Q1 2022 Results Earnings Conference Call May 10, 2022 4:30 PM ET Company Participants Savneet Singh - President and Chief Executive Officer Chris Byrnes - Vice President, Business Development Bryan Menar - Chief Financial Officer Conference Call Participants Kyle Peterson - Needham & Company Samad Samana - Jefferies Stephen Sheldon - William Blair George Sutton - Craig-Hallum Anja Soderstrom - Sidoti & Company Adam Wyden - ADW Capital Operator Good day and thank you for ...

Q1 '22 Earnings Presentation May 10, 2022 NYSE: PAR Forward-Looking Statements. This presentation contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature, but rather are predictive of our future operations, financial condition, financial results, business strategies and pros ...

[PART I FINANCIAL INFORMATION](index=2&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Financial Statements (unaudited)](index=2&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) PAR Technology Corporation reported Q1 2022 revenues of **$80.3 million**, up **47.4%**, with a net loss of **$15.7 million** due to increased operating expenses Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $163,207 | $188,419 | | Total current assets | $270,087 | $283,007 | | Goodwill | $457,433 | $457,306 | | Total assets | $871,696 | $888,149 | | Total current liabilities | $58,337 | $60,517 | | Long-term debt | $387,681 | $305,845 | | Total liabilities | $460,226 | $383,804 | | Total shareholders' equity | $411,470 | $504,345 | Condensed Consolidated Statements of Operations (in thousands, except per share amounts) | Account | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Total revenues, net | $80,285 | $54,467 | | Gross margin | $20,613 | $10,200 | | Operating loss | $(12,809) | $(6,021) | | Net loss | $(15,650) | $(8,271) | | Net loss per share (basic and diluted) | $(0.58) | $(0.38) | Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Account | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(21,198) | $(3,434) | | Net cash used in investing activities | $(3,060) | $(1,669) | | Net cash used in financing activities | $(1,411) | $(2,116) | | Net decrease in cash and cash equivalents | $(25,212) | $(7,564) | | Cash and equivalents at end of period | $163,207 | $173,122 | [Notes to Condensed Consolidated Financial Statements (unaudited)](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20(unaudited)) Notes detail accounting policies, segment operations, convertible instrument reclassification, and Q1 2022 acquisition and Punchh purchase price finalization - The company operates in two distinct reporting segments: Restaurant/Retail, providing integrated cloud solutions, and Government, offering advanced systems for federal agencies[25](index=25&type=chunk) - On January 1, 2022, the company adopted ASU 2020-06 for convertible instruments, resulting in an **$81.3 million** increase to convertible notes and a **$66.6 million** reduction to additional paid-in capital[34](index=34&type=chunk) - In Q1 2022, the company acquired a privately held restaurant technology company for **$1.2 million**, recorded as goodwill, and finalized the Punchh acquisition purchase price allocation, reducing goodwill by **$1.1 million**[51](index=51&type=chunk)[54](index=54&type=chunk) Outstanding Convertible Senior Notes (Principal Amount, in thousands) | Note Series | Principal Amount | | :--- | :--- | | 2024 Notes | $13,750 | | 2026 Notes | $120,000 | | 2027 Notes | $265,000 | | **Total** | **$398,750** | Segment Revenues and Operating (Loss) Income (in thousands) | Segment | Revenue Q1 2022 | Revenue Q1 2021 | Operating (Loss) Income Q1 2022 | Operating (Loss) Income Q1 2021 | | :--- | :--- | :--- | :--- | :--- | | Restaurant/Retail | $58,846 | $36,584 | $(5,181) | $(9,285) | | Government | $21,439 | $17,883 | $1,547 | $1,190 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2022 total revenue increased **47.4%** to **$80.3 million**, driven by service revenue growth, with operating expenses rising significantly leading to a higher operating loss Consolidated Results of Operations Highlights (in thousands) | Metric | Q1 2022 | Q1 2021 | % Change | | :--- | :--- | :--- | :--- | | Total revenues, net | $80,285 | $54,467 | 47.4% | | Gross margin | $20,613 | $10,200 | 102.1% | | Loss from operations | $(12,809) | $(6,021) | 112.7% | | Net loss | $(15,650) | $(8,271) | 89.2% | - Service revenue growth of **87.3%** was primarily driven by **$11.2 million** in revenue from the Punchh acquisition, which occurred in April 2021[119](index=119&type=chunk) - Operating expenses increased significantly, with Selling, General & Administrative (SG&A) up **53.9%** and Research & Development (R&D) up **86.6%**, largely due to Punchh integration and strategic investments[125](index=125&type=chunk)[126](index=126&type=chunk) Annual Recurring Revenue (ARR) (in thousands) | Product | Q1 2022 | Q1 2021 | % Change | | :--- | :--- | :--- | :--- | | Brink POS | $35,518 | $25,647 | 38.5% | | Data Central | $8,703 | $8,968 | (3.0)% | | Punchh | $50,220 | — | N/A | | **Total** | **$94,441** | **$34,615** | **172.8%** | Active Sites (in thousands) | Product | Q1 2022 | Q1 2021 | % Change | | :--- | :--- | :--- | :--- | | Brink POS | 16.9 | 12.1 | 39.6% | | Data Central | 6.0 | 6.0 | —% | | Punchh | 58.8 | — | N/A | - Cash used in operating activities was **$21.2 million**, a significant increase from **$3.4 million** in the prior year, driven by higher net loss and increased working capital needs[150](index=150&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from foreign currency and interest rate fluctuations, primarily related to fixed-rate convertible notes, with foreign currency impact not material - The company's primary foreign currency exchange risk exposures relate to sales and operating expenses in Canada, Europe, and Asia, with no material impact as of March 31, 2022[156](index=156&type=chunk) - The company has **$398.8 million** in aggregate principal of fixed-rate convertible notes, whose fair value fluctuates with market interest rates and the company's stock price[157](index=157&type=chunk)[158](index=158&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed ineffective as of March 31, 2022, due to ongoing material weaknesses in internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were not effective as of March 31, 2022[159](index=159&type=chunk) - The ineffectiveness is due to ongoing material weaknesses in internal control over financial reporting, with remediation efforts in progress but not yet completed[159](index=159&type=chunk)[160](index=160&type=chunk) [PART II OTHER INFORMATION](index=34&type=section&id=PART%20II%20OTHER%20INFORMATION) [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, with management not anticipating any material adverse effect on financial condition or operations - The company states that it does not believe any pending litigation would have a material adverse effect on its financial condition or results of operations[163](index=163&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) No material changes have been made to the risk factors disclosed in the 2021 Annual Report - No material changes have been made to the risk factors disclosed in the 2021 Annual Report[164](index=164&type=chunk) [Unregistered Sales of Equity Securities and Use Of Proceeds](index=34&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20Of%20Proceeds) During Q1 2022, the company withheld **44,659 shares** of common stock to satisfy employee tax withholding obligations related to vested equity awards - For the three months ended March 31, 2022, the company withheld **44,659 shares** to satisfy minimum statutory tax obligations for employees related to vested equity awards[165](index=165&type=chunk) [Exhibits](index=35&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications by the CEO and CFO, and XBRL data files - The report includes various exhibits, such as an amendment to an employment letter and certifications from the Principal Executive Officer and Principal Financial Officer[168](index=168&type=chunk)

Q4 '21 Earnings Presentation March 1, 2022 NYSE: PAR Forward-Looking Statements. This presentation contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature, but rather are predictive of our future operations, financial condition, financial results, business strategies and pro ...

Financial Data and Key Metrics Changes - Total Q4 revenues were $81.6 million, a 39% increase from the previous year [5][17] - Net loss for Q4 2021 was $25.6 million, compared to a net loss of $13 million in Q4 2020 [17] - Adjusted net loss for Q4 2021 was $9.8 million, an improvement from an adjusted net loss of $11.7 million in Q4 2020 [17] - Contracted ARR totaled over $111 million as of December 31, 2021, indicating strong growth potential for 2022 [6][17] Business Line Data and Key Metrics Changes - Product revenue for Q4 was $32.2 million, a 48% increase from $21.8 million in the prior year [17][10] - Service revenue was reported at $30.6 million, a 67% increase from $18.3 million in the prior year, driven by Punchh revenues [17][18] - SaaS and related recurring services reported in Q4 2021 was $19.2 million, compared to $8.3 million in Q4 2020 [19] Market Data and Key Metrics Changes - The government business reported revenues of $18.8 million, a 2% increase from the previous year [11][20] - Contract backlog grew to $195.3 million at the end of Q4, up from $150.5 million a year earlier [12][20] Company Strategy and Development Direction - The company aims for 30% to 40% annual growth in recurring revenue streams, focusing on operational efficiency and innovation [13][15] - A unified commerce platform is being developed to enhance customer experience and streamline operations [14][15] - The company is actively pursuing strategic M&A opportunities to bolster growth [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving EBITDA profitability within 2023, while continuing to invest in growth [33][34] - The company anticipates strong demand for its payment solutions, which are expected to significantly contribute to revenue growth [39][40] - Management noted the importance of adapting to changing market conditions, particularly in the restaurant sector [59] Other Important Information - The company has seen a significant improvement in gross margins, with subscription services gross margins reaching 70% by the end of Q4 [6][21] - The company is managing supply chain challenges and has strategically increased inventory to meet customer demand [11][27] Q&A Session Summary Question: What is the growth trajectory for 2022? - Management expects 30% to 40% growth in recurring revenue, with slower growth anticipated in hardware due to last year's refresh [29][30] Question: What are the priorities for investments in 2022? - The focus will be on R&D and strategic M&A, with a target to achieve EBITDA breakeven within 2023 [32][33] Question: How is the payment solution impacting enterprise client conversations? - The Smoothie King win has boosted confidence in selling payment solutions to larger clients, with expectations for significant revenue contribution in the coming years [38][39] Question: What is the outlook for Data Central in 2022? - Management sees potential for growth in back-office solutions, with early wins indicating a positive trend [42][43] Question: How is the company addressing pricing strategies? - The company has implemented a formal pricing process and is successfully raising prices based on demonstrated value [64][65]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From __________ to __________ Commission File Number 1-09720 PAR TECHNOLOGY CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

TM Unified Commerce Cloud Platform January 2022 Forward-Looking Statements. This presentation contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature, but rather are predictive of our future operations, financial condition, business strategies and prospects. Forwardlooking s ...

Financial Performance - Q3 revenue reached $77.9 million, a 42% increase compared to Q3 2020[9] - Organic revenue growth was 24%[9] - Total gross margin was $18.214 million, representing 23.4% of total revenue[8] - Net loss was $(31.933) million, while adjusted net loss was $(9.320) million[8] ARR Growth - Total ARR grew 35% year-over-year from Q3 2020[12] - Punchh ARR increased 47% from Q3 of the previous year[12] - Brink POS ARR increased 29% from Q3 of the previous year[12] - Contracted ARR totaled approximately $97 million at the end of Q3[12] Brink POS Performance - Brink POS ARR increased 29% from Q3 last year[15] - Contracted ARR for Brink POS is $33.5 million at the end of Q3[15] - Active Brink POS sites increased by 35% year-over-year, reaching approximately 14,900[18] Punchh Performance - Punchh ARR increased 47% from Q3 last year[21] - Contracted ARR for Punchh is $63.3 million at the end of Q3[21] - Active Punchh stores increased by 67% year-over-year[24]

PAR Technology Corporation (NYSE:PAR) Q3 2021 Earnings Conference Call November 9, 2021 4:30 PM ET Company Participants Chris Byrnes - Vice President, Business Development Savneet Singh - CEO and President Bryan Menar - Chief Financial Officer Conference Call Participants Patrick Macaulay - William Blair Anja Soderstrom - Sidoti Adam Wyden - ADW Capital Operator Good day and thank you for standing by. Welcome to the FY 2021 Third Quarter Financial Results Conference Call. At this time, all participants are ...