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 Corporation (NYSE:PAR) Q4 2023 Earnings Conference Call February 27, 2024 9:00 AM ET Company Participants Chris Byrnes - Senior Vice President of Business Development Savneet Singh - Chief Executive Officer Bryan Menar - Chief Financial Officer Conference Call Participants Mayank Tandon - Needham Stephen Sheldon - William Blair Eric Martinuzzi - Lake Street Capital Markets Adam Kelsey - Craig-Hallum Samad Samana - Jefferies Anja Soderstrom - Sidoti Andrew Hart - BTIG Operator Good day and tha ...

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 ...

Restaurant/Retail Segment - PAR's Restaurant/Retail segment serves over 70,000 active restaurant locations with omnichannel cloud-based software and hardware solutions[14] - PAR's subscription services include SaaS solutions and transaction-based payment processing, with over 500 integration partners[18][23] - PAR's hardware offerings include POS terminals, tablets, wireless headsets, and drive-thru systems, designed for harsh food service environments[24] - PAR's long-term relationships with McDonald's and Yum! Brands contribute 17% of total revenue[31] - PAR's SaaS solutions include PUNCHH for customer loyalty and MENU for digital ordering, enhancing customer engagement and operational efficiency[18][19] - PAR's omnichannel solutions aim to integrate data points for guest satisfaction and operational efficiencies across restaurant enterprises[16] - The Restaurant/Retail segment offers omnichannel solutions including point-of-sale, customer engagement, digital ordering, and payment processing[278] - The company's revenue in the Restaurant/Retail segment is derived from hardware sales, subscription services, and professional services, with revenue recognition governed by ASC Topic 606[307] - Hardware revenue is recognized at the point in time when the customer obtains control of the asset, typically upon delivery to a third-party carrier[309] - Subscription service revenue, including SaaS solutions, is recognized ratably over the contract period, which generally ranges from 12 to 36 months[311] - Software support revenue is recognized ratably over the contract term, typically 12 months, as the company satisfies its "stand-ready" obligations[312] - Transaction-based payment processing revenue is recognized net of refunds and reversals, with variable fees allocated based on ASC 606 allocation objectives[313] - Deferred revenue for the Restaurant/Retail segment was $7.3 million (current) and $4.2 million (non-current) as of December 31, 2023[371] - Total disaggregated revenue for 2023 was $124.9 million (Point in Time) and $151.8 million (Over Time) for the Restaurant/Retail segment[375] - Net accounts receivable for 2023 was $63.4 million, with $42.7 million from the Restaurant/Retail segment[378] Government Segment - PAR's Government segment provides advanced systems and software solutions for the U.S. Department of Defense and intelligence community[37] - PAR's ISR group focuses on mobile geospatial applications, C-sUAS, and data science, supporting tactical edge situational awareness[38][39] - PAR's ISR group is expanding through the development and implementation of C-sUAS systems, supporting force protection efforts[41] - PAR's MS group operates and maintains satellite communication and teleport facilities with ultra-high, super high, and extremely high frequency satellite communication earth terminals[42] - Approximately 70% of PAR's MS group footprint is outside the continental U.S., with contracts in Europe, Middle East, Africa, Australia, and U.S. commonwealths and territories[45] - PAR Government has an average contract duration of three to five years, with some contracts continuing for 20 years or more[46] - PAR Government offers three commercial software products: geospatial visualization (GV) image processing suite, Situation-X (Sit-X), and GVStreamer software[48] - PAR's MS group provides 24/7/365 support services for satellite communication systems, including satellite control center operations and mission planning[43] - PAR's MS group supports critical information systems for the National Command Authority, DoD, and other federal agencies, with a significant global presence[45] - PAR Government's commercial software business focuses on video streaming and replication technologies for unmanned aerial vehicle operators and tactical edge mobile device users[51] - The Government segment provides ISR solutions, mission systems operations, and commercial software products for defense and intelligence applications[278] - The company's Government segment revenue is predominantly recognized over time, with revenue generated from services, materials, software, hardware, and maintenance[322] - The government segment had a contract backlog of $326.0 million as of December 31, 2023, with $179.5 million expected to be recognized in the next 12 months[373] Financial Performance - Total revenues for 2023 increased to $415.8 million, up 16.9% from $355.8 million in 2022[268] - Subscription service revenue grew to $122.6 million in 2023, a 25.7% increase from $97.5 million in 2022[268] - Net loss for 2023 was $69.8 million, slightly higher than the $69.3 million loss in 2022[268] - Cash and cash equivalents decreased to $37.4 million in 2023 from $70.3 million in 2022[266] - Total assets declined to $802.6 million in 2023 from $854.9 million in 2022[266] - Research and development expenses increased to $58.4 million in 2023, up 20% from $48.6 million in 2022[268] - Gross margin improved to $98.3 million in 2023, up 10.1% from $89.3 million in 2022[268] - Weighted average shares outstanding increased to 27.6 million in 2023 from 27.2 million in 2022[268] - Net loss for 2023 was $69.8 million, compared to $69.3 million in 2022 and $75.8 million in 2021[274] - Cash used in operating activities decreased to $17.1 million in 2023 from $43.1 million in 2022 and $53.2 million in 2021[274] - Cash used in investing activities was $7.8 million in 2023, significantly lower than $66.7 million in 2022 and $383.0 million in 2021[274] - Cash and cash equivalents decreased to $47.5 million at the end of 2023 from $77.5 million in 2022 and $188.4 million in 2021[274] - Stock-based compensation expense was $14.4 million in 2023, compared to $13.4 million in 2022 and $14.6 million in 2021[274] - Depreciation and amortization expenses increased to $27.5 million in 2023 from $26.1 million in 2022 and $21.4 million in 2021[274] - Total shareholders' equity decreased to $333.1 million at the end of 2023 from $375.2 million in 2022 and $504.3 million in 2021[271] - Net loss per share for 2023 was $(2.53), compared to $(2.55) in 2022 and $(3.02) in 2021[337] Acquisitions and Contingent Considerations - The fair value of contingent consideration for the MENU Technologies AG acquisition was adjusted to $0.6 million as of December 31, 2023[260] - The MENU Acquisition resulted in an initial contingent consideration liability of $14.2 million in 2022, which was adjusted to $9.8 million by the end of 2022 and further reduced to $0.6 million by the end of 2023[330][331] - The MENU acquisition in 2022 involved $18.4 million in cash and $6.3 million in company stock, with an additional $14.2 million earn-out potential[342] - The MENU earn-out fair value was adjusted to $0.6 million as of December 31, 2023, down from $14.2 million at acquisition[342] - The Punchh acquisition in 2021 totaled $507.7 million, including $397.5 million in cash and 1,493,130 shares of company stock[353] - The company incurred $1.1 million in acquisition expenses related to the MENU acquisition[349] - The Punchh acquisition resulted in a $3.5 million reduction in cash consideration due to escrow account settlements[356] - The fair value of developed technology in the Punchh acquisition was reduced by $3.6 million during 2021[358] - The total purchase price allocation for the Punchh Acquisition was $553.8 million, with goodwill accounting for $415.1 million[361] - The Punchh Acquisition added $27.7 million in revenue for the year ended December 31, 2021[369] - The company's unaudited pro forma total revenue for 2021 was $291.6 million, with a net loss of $79.1 million[370] Debt and Financial Instruments - As of December 31, 2023, PAR had $120.0 million and $265.0 million in aggregate principal amount outstanding on the 2026 Notes and 2027 Notes, respectively[252] - Long-term debt decreased to $377.6 million in 2023 from $389.2 million in 2022[266] - The company repurchased $66.3 million of 2024 Notes using proceeds from the 2026 Notes issuance, resulting in a loss on settlement of $8.1 million[389] - The 2027 Notes were issued at $265.0 million with a 1.500% interest rate, used to repay the $180.0 million Owl Rock Term Loan and for general corporate purposes[390] - The company acquired $13.75 million of 2024 Notes in exchange for 497,376 shares of common stock, resulting in a $0.6 million loss on extinguishment of debt[391] - The 2026 Notes are convertible at 23.2722 shares per $1,000 principal amount, while the 2027 Notes are convertible at 12.9870 shares per $1,000 principal amount[392] - The implied effective rate of the liability component for the 2024 Notes, 2026 Notes, and 2027 Notes was 10.2%, 7.3%, and 6.5%, respectively[394] - Initial measurement of the 2024 Notes resulted in a liability of $62.4 million and an implied value of the convertible feature of $17.6 million[395] - Initial measurement of the 2026 Notes resulted in a liability of $93.8 million and an implied value of the convertible feature of $26.2 million[395] - Initial measurement of the 2027 Notes resulted in a liability of $199.2 million and an implied value of the convertible feature of $65.8 million[395] - Issuance costs for the 2024 Notes amounted to $4.9 million, with $3.8 million allocated to debt and $1.1 million to equity components[395] - Issuance costs for the 2026 Notes amounted to $4.2 million, with $3.3 million allocated to debt and $0.9 million to equity components[395] - Issuance costs for the 2027 Notes amounted to $8.3 million, with $6.2 million allocated to debt and $2.1 million to equity components[395] Research and Development - Research and development expenses were $58.4 million in 2023, up from $48.6 million in 2022 and $34.6 million in 2021[36] - Research and development expenses increased to $58.4 million in 2023, up 20% from $48.6 million in 2022[268] Workforce and Diversity - PAR Government's U.S. employee population consists of 27% ethnically diverse employees and 28% women, while globally, the workforce consists of 26% women[59] Operational Risks and Mitigations - PAR's hardware supply chain faces risks from industry-wide shortages and pricing fluctuations, mitigated by expanded supplier networks[35] Accounting and Financial Reporting - The company retroactively split its "Selling, general and administrative" financial statement line item into "Sales and marketing" and "General and administrative" for clearer insight into operating expenses[325] - The company is evaluating the impact of new FASB standards ASU 2023-09 and ASU 2023-07 for future financial disclosures[338][339] - The company's provision for income taxes is based on pretax loss, with deferred income taxes provided for temporary differences between financial reporting and tax bases[335] Inventory and Asset Management - Inventories decreased to $23.6 million in 2023 from $37.6 million in 2022, with finished goods dropping to $13.6 million from $22.0 million[379] - Property, plant, and equipment increased to $43.4 million in 2023 from $37.6 million in 2022, with software assets rising to $17.2 million from $12.4 million[380] - Internally developed software costs increased to $36.9 million in 2023 from $32.3 million in 2022, with a weighted average amortization period of 1.95 years[382] - Goodwill increased to $489.7 million in 2023 from $486.8 million in 2022, primarily due to foreign currency translation adjustments[384] Leases and Contingent Liabilities - The company's total lease expense for 2023 was $2.0 million, with future lease payments totaling $4.6 million[376][377] - Warranty provisions decreased to $650,000 in 2023 from $722,000 in 2022, with $112,000 in claims settled in 2023 compared to $224,000 in 2022[304] - Contingent consideration liability related to the MENU Acquisition was reclassified to accrued expenses, with a balance of $0.6 million in 2023 compared to zero in 2022[298] Insurance and Legal Settlements - The company received $0.5 million in insurance proceeds during 2023 and $4.4 million in 2021, related to the settlement of a legacy claim[332] Shareholder Equity and Stock Options - The company had 920,403 anti-dilutive stock options outstanding as of December 31, 2023, down from 1,029,417 in 2022 and 1,305,881 in 2021[336] Miscellaneous - Payments to Act III Management for services decreased to $0.1 million in 2023 from $0.6 million in 2022 and $1.3 million in 2021[306] - In Q4 2023, the company acquired payment facilitator referral commissions for $2.2 million, increasing intangible assets[341]

Exhibit 99.1 FOR RELEASE: CONTACT: New Hartford, NY, February 27, 2024 Christopher R. Byrnes (315) 738-0600 ext. 6226 cbyrnes@partech.com, www.partech.com PAR TECHNOLOGY CORPORATION ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS New Hartford, NY- February 27, 2024 -- PAR Technology Corporation (NYSE: PAR) ("PAR Technology" or the "Company") today announced its financial results for its fourth quarter and for the year ended December 31, 2023. Summary of Fiscal 2023 Fourth Quarter Summary of Full Year Fi ...

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 ...