PAR Technology Corporation (NYSE: PAR), a global restaurant technology company providing unified commerce solutions for enterprise foodservice, announced today that it has agreed to the sale of its Government operating segment via the sale of its wholly owned subsidiaries: PAR Government Systems Corporation (PGSC) and Rome Research Corporation (RRC) for a combined total of $102 million. "This acquisition marks a significant milestone for NTS. We are excited to welcome the talented RRC Team and continue buil ...

1 Forward-Looking Statements. Market, industry, and other data included in this presentation are from or based on our own internal good faith estimates and research, and on publicly available publications, research, surveys and studies conducted by third parties, which we believe are reliable, but have not independently verified. Similarly, while we believe our internal estimates and research are reliable, we have not independently verified our internal estimates or research. While we are not aware of any m ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2024 were $105.5 million, a 5% increase compared to Q1 2023, driven by subscription services and contract revenue, partially offset by declines in hardware and professional service revenue [17][18][37] - Subscription service revenue reached $38.4 million, up 37.2% from $28 million in the prior year, with significant contributions from both Operator Cloud and Engagement Cloud services [18][63] - Adjusted EBITDA for Q1 2024 was a loss of $7.2 million, an improvement from a loss of $8.8 million in Q1 2023, reflecting increased margin contributions from subscription services [36] Business Line Data and Key Metrics Changes - Operator Cloud ARR grew 39% to $78.5 million year-over-year, driven by increased win rates and ARPU improvements [26] - Engagement Cloud ARR exceeded $107 million, with a year-over-year growth of 80.5%, significantly aided by the acquisition of Stuzo [31][63] - Hardware revenue decreased by 31.9% to $18.2 million, attributed to timing issues with enterprise customer orders and product rollouts [37] Market Data and Key Metrics Changes - The government contract revenue increased by 11.2% to $35.4 million, driven by growth in the ISR solution product line [64] - The backlog for government contracts was $315.4 million, a decrease of 3% from the previous quarter, indicating a stable but slightly declining pipeline [64] Company Strategy and Development Direction - The company is focused on a disciplined M&A strategy to enhance profitability and expand its total addressable market (TAM) [16] - The integration of Stuzo is expected to enhance cross-selling opportunities and improve unit economics across the product suite [31][93] - The company aims to achieve EBITDA positivity by Q3 2024, with a focus on maintaining flat operating expenses while driving revenue growth [14][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the execution of the Burger King and Wendy's rollouts, indicating that successful implementations will enhance customer trust and lead to further business opportunities [46][71] - The company anticipates continued growth in subscription services and expects to leverage the recent acquisitions to drive future profitability [24][72] - Management highlighted the importance of maintaining operational efficiency and managing expenses to support growth without increasing overhead [41][60] Other Important Information - The company reported cash used in investing activities of $151.9 million, primarily due to the Stuzo acquisition [42] - The adjusted subscription services gross margin for the quarter was 66%, with a target to increase this to over 70% as the business scales [33] Q&A Session Summary Question: How is the pipeline of opportunities with Burger King and Wendy's? - Management indicated that there is strong deal flow and customer confidence due to successful rollouts, which is encouraging for future business [46] Question: What are the expectations for the hardware business recovery? - Management expressed optimism about the hardware business, noting that while recovery may take time, the attachment of hardware to Brink deals will drive future growth [55] Question: Were there any one-time expenses in SG&A for the quarter? - Management confirmed that there were significant M&A-related expenses and reorganization costs that contributed to the increase in SG&A [49] Question: What is the expected impact of the Stuzo acquisition on EBITDA? - Management noted that Stuzo's contribution to EBITDA was minimal in Q1 but is expected to have a more significant impact in Q2 and beyond [114] Question: How does the company plan to manage operating expenses while driving revenue growth? - Management stated that they expect to keep operating expenses flat while focusing on organic revenue growth, which should lead to improved profitability [41][60]

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q 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 jur ...

PAR Technology (PAR) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.31. This compares to loss of $0.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.13%. A quarter ago, it was expected that this software provider for the hospitality industry would post a loss of $0.27 per share when it actually produced a loss of $0.33, delivering a surprise of -22.22%.Over the last ...

Exhibit 99.1 FOR RELEASE: CONTACT: New Hartford, NY, May 9, 2024 Christopher R. Byrnes (315) 738-0600 ext. 6226 cbyrnes@partech.com, www.partech.com PAR TECHNOLOGY CORPORATION ANNOUNCES FIRST QUARTER 2024 RESULTS New Hartford, NY - May 9, 2024 -- PAR Technology Corporation (NYSE: PAR) ("PAR Technology" or the "Company") today announced its financial results for the first quarter ended March 31, 2024. "We kicked off 2024 with momentum and are pleased to report that organic ARR growth has accelerated to 25% f ...

Lock Stock Overview and Investment Thesis PAR Technology (NYSE:PAR) has 2 primary businesses: the software business called Brink, an enterprise-grade cloud-based POS system provider and market leader in the restaurant industry, and its legacy defense contracting business. In this article, the focus of my analysis will be on its POS business. PAR concluded FY23 on a high note with its landmark deal with Burger King, marking its largest win to date. The deployment of Brink across Burger King's 7,000 North ...

JulPoOverview My recommendation for PAR Technology (NYSE:PAR) is a buy rating, as I expect growth to continue into the near term. Especially with the addition of Stuzo and potentially TASK, I believe the growth outlook has gotten a lot more positive than when I last looked at the company. Note that I previously rated buy rating for PAR as I believed the TAM was large enough for PAR to continue winning share and upsell its products to drive ARPU expansion. Underlying its ability to do so was a set of str ...

PAR Technology has acquired TASK Group and Stuzo Holdings to expand its unified commerce software offerings.These acquisitions will expand the global food service technology company’s offerings into convenience stores, fuel retailers and international markets, PAR Technology said in a Monday (March 11) press release.The company has entered into an agreement to acquire TASK Group, an Australian global food service transaction platform designed for major brands worldwide, according to the release. This transa ...

PAR Technology (PAR) came out with a quarterly loss of $0.33 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to loss of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -22.22%. A quarter ago, it was expected that this software provider for the hospitality industry would post a loss of $0.33 per share when it actually produced a loss of $0.21, delivering a surprise of 36.36%.Over the last f ...