NEW HARTFORD, N.Y.--(BUSINESS WIRE)--PAR Technology Corporation (NYSE: PAR) a global restaurant technology company and provider of unified commerce for enterprise restaurants today announced that PAR CEO, Savneet Singh, will participate in two upcoming investor conferences. PAR will participate in fireside chats at the 13th Annual Citi FinTech Conference on Wednesday, February 28th, and at the 8th Annual Evercore ISI Payments & Fintech Innovators Forum on Thursday, February 29th . PAR management will also ...

NEW HARTFORD, N.Y.--(BUSINESS WIRE)--ParTech, Inc. (PAR), a global restaurant technology company and provider of unified commerce solutions for enterprise restaurants, announced Hooters of America, LLC, the franchisor behind the iconic Hooters and Hoots Wings brands, selected PAR Brink POS® and PAR Data Central® to enhance its operational efficiency and order accuracy for an improved table service experience in 367 Hooters restaurants across 36 states and 18 countries. As an existing customer of PAR’s le ...

NEW HARTFORD, N.Y.--(BUSINESS WIRE)--PAR Technology Corporation (NYSE: PAR) today announced that it will report its fourth quarter & year end financial results on Tuesday February 27, 2024. The results are scheduled to be released at 7:30 a.m. ET, followed by an investor presentation and conference call at 9:00 a.m. ET. PAR Technology Chief Executive Officer Savneet Singh, Chief Financial Officer Bryan Menar and Senior Vice President for Investor Relations & Business Development, Christopher Byrnes will pr ...

NEW HARTFORD, N.Y.--(BUSINESS WIRE)--ParTech, Inc. (PAR), a global restaurant technology company and provider of unified commerce solutions for enterprise restaurants, announced the integration of MENU Link with Grubhub, a leading online and mobile food ordering and delivery platform. MENU Link is PAR's marketplace order management system and part of the PAR MENU ecosystem. Building off PAR and Grubhub’s existing partnership, MENU Link automatically syncs menu items, pricing and other order information b ...

NEW HARTFORD, N.Y.--(BUSINESS WIRE)--PAR Technology Corporation (NYSE: PAR) a global restaurant technology company and provider of unified commerce to enterprise restaurants today announced that Savneet Singh, the Company’s CEO, will present to institutional investors at the 26th Annual Needham Growth Conference at the Lotte New York Palace Hotel. Mr. Singh will participate in a fireside chat at 10:15 AM ET on Wednesday, January 17, 2024. A live webcast and replay of the discussion will be available by vis ...

NEW HARTFORD, N.Y.--(BUSINESS WIRE)--ParTech, Inc. (PAR), a global restaurant technology company and provider of unified commerce for enterprise restaurants, today proudly introduces the PAR Wave - an All-In-One touch panel designed to reshape hospitality hardware. The PAR Wave reflects PAR’s commitment to meeting future restaurant industry needs, seamlessly blending functionality, performance, security, and innovative design. It emerges as a solution for businesses seeking a more efficient and aesthetic ...

Active Sites ('000) partech.com ARR ($'000,000) (1) Adjusted Subscription Service Gross Margin is a non-GAAP financial measure. Please see Appendix A for a detailed reconciliation to Subscription Service Gross Margin (GAAP). (2) 2020 gross margin impacted due to one-time COVID waiver and Cost of Goods Sold (COGS). (3) Q3'23 ARR is as of September 30, 2023, and YTD'23 Adjusted Subscription Service Gross Margin is for the nine months ended September 30, 2023; both are excluded from the CAGR calculations. CAGR ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT 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) Delaware 16-1434688 (State or other ...

Financial Data and Key Metrics Changes - Total revenues for Q2 2023 were $100.5 million, an increase of 18.2% compared to Q2 2022, driven by growth in both restaurant retail and government segments [67] - Net loss for Q2 2023 was $19.7 million, or $0.72 loss per share, compared to a net loss of $18.8 million, or $0.70 loss per share in Q2 2022 [9] - Adjusted EBITDA for Q2 2023 was a loss of $9.9 million, compared to an adjusted EBITDA loss of $5.8 million for the same period in 2022 [51] - Cash used in operating activities was $12.8 million for the six months ended June 30, compared to $31.6 million for the prior year [73] Business Line Data and Key Metrics Changes - Subscription services revenue was reported at $30.4 million, an increase of 31.2% from $23.2 million in the prior year, driven by a 21% increase in active sites and a 19% increase in average revenue per site [68] - Operator Solutions ARR grew 38.4% to $50 million in Q2 compared to the same period last year, with 115 new stores added [17] - Professional services revenue was reported at $12.8 million, a slight increase of 1.1% from the prior year [69] - Government contract revenue was $31 million, an increase of 48.2% from $20.9 million in Q2 2022, driven by growth in ISR Solutions product line [5] Market Data and Key Metrics Changes - Contracted annual recurring revenue ended the quarter at $140.2 million, a 7% sequential increase from Q1 [40] - Active store count increased by 13% year-over-year, with over 7,200 active stores reported [20][47] - Government contract backlog as of June 30, 2023, was $297 million, a 61% increase compared to $184.5 million a year earlier [53] Company Strategy and Development Direction - The company is focused on delivering scalability and innovation, with significant investments in infrastructure to support growth in its product offerings [3][46] - There is a strong emphasis on integrating technology into operational expenditures, positioning the company to capture market share as restaurants seek to streamline operations [39] - The company plans to maintain flat operating expenses while pursuing growth opportunities, particularly in the U.S. market [76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory, citing a strong pipeline and momentum heading into the second half of the year [66] - The company anticipates returning to historical gross margin levels in the low seventies as investments in new products begin to pay off [63][109] - Management acknowledged challenges in scaling infrastructure to meet increased usage but remains optimistic about future profitability [44][108] Other Important Information - The company reported lower than normal adjusted gross margins for subscription services at 61% for the quarter, impacted by one-time customer credits [24] - Cash used in investing activities was $6.2 million for the six months ended June 30, with significant capital expenditures for software and technology development [33] - The company was recognized as a Top Workplace in 2023 for the technology industry, reflecting its commitment to employee satisfaction [60] Q&A Session Summary Question: What drove the growth in Operator Solutions? - The growth was driven by a continued addition of sites and an increase in average revenue per user (ARPU) due to the attachment of payments [78] Question: How should gross margins be expected to trend in the back half of the year? - Management expects to recover some gross margins in the next quarters as one-time expenses normalize and investments in MENU and PAR payments begin to yield results [80][82] Question: Can you provide an update on the Punchh business and its activations? - Punchh has seen a fourfold increase in usage over the past year, with a strong pipeline for Q3 and Q4, although some churn was expected [104][112] Question: What is the company's approach to international markets following the acquisition of MENU? - The company has decided to focus on the U.S. market for now, with plans to eventually revisit international opportunities once the domestic customer base is established [117] Question: How does the company view potential M&A opportunities? - The company is actively exploring M&A opportunities that can enhance its product suite and create synergies, particularly in the restaurant technology space [128][152]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ TRANSITION REPORT 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) Delaware 16-1434688 (State or other juri ...