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PAR Technology Corporation Announces Second Quarter 2025 Results

• Annual Recurring Revenue (ARR)⁽¹⁾ grew to $286.7 million - total growth of 49% inclusive of organic growth of 16% from $192.2 million reported in Q2 '24
• Quarterly subscription service revenues increased 60% year-over-year, inclusive of organic growth of 21% from Q2 '24

NEW HARTFORD, N.Y.--(BUSINESS WIRE)-- PAR Technology Corporation (NYSE: PAR) (鈥淧础搁 Technology鈥� or the 鈥淐ompany鈥�) today announced its financial results for the second quarter ended June 30, 2025.

鈥淨2 was another strong quarter in proving out our "Better Together" thesis. We signed a record amount of multi-product logos in the quarter and restarted our largest rollout,鈥� commented PAR CEO, Savneet Singh. 鈥淚n addition to these multi-product wins, we ended the quarter with our largest company-wide pipeline to date. Our business continues to build a solid foundation for growth and profitability for years to come."

The Company's key performance indicators ARR and Active Sites⁽¹⁾ are presented as two subscription service product lines:

• Engagement Cloud consisting of PAR Engagement (Punchh and PAR Ordering), PAR Retail (including GoSkip), and Plexure product offerings.
• Operator Cloud consisting of PAR POS, PAR Pay, PAR OPS (Data Central and Delaget), and TASK product offerings.

Highlights of Engagement Cloud - Second Quarter 2025⁽¹⁾:

• ARR at end of Q2 '25 totaled $167.5 million
• Active Sites as of June 30, 2025 totaled 119.1 thousand

Highlights of Operator Cloud - Second Quarter 2025⁽¹⁾:

• ARR at end of Q2 '25 totaled $119.2 million
• Active Sites as of June 30, 2025 totaled 57.4 thousand

Earnings Conference Call.

There will be a conference call at 9:00 a.m. (Eastern) on August 8, 2025, during which management will discuss the Company's financial results for the second quarter ended June 30, 2025. The conference call will be webcast live. To access the webcast, please visit the Investor Relations section of the Company's website at . A recording of the webcast will be available on this site after the event.

About PAR Technology Corporation.

PAR Technology Corporation (NYSE: PAR) is a leading foodservice technology provider, powering a unified, purpose-built platform engineered to scale and adapt with brands at every stage of growth. Designed with flexibility and openness at its core, PAR鈥檚 solutions鈥攕panning point-of-sale, digital ordering, loyalty, back-office, payments, and hardware鈥攊ntegrate with others, yet deliver maximum impact as a unified system. With intentional innovation at the forefront, PAR鈥檚 solutions streamline operations, drive higher engagement, and strengthen guest experiences for restaurants and retailers globally. To learn more, visit or connect with us on social media. The PAR Technology 2025 Sustainability Report can be found at: .

Key Performance Indicators and Non-GAAP Financial Measures.

We monitor certain key performance indicators and non-GAAP financial measures in the evaluation and management of our business; certain key performance indicators and non-GAAP financial measures are provided in this press release because we believe they are useful in facilitating period-to-period comparisons of our business performance. Key performance indicators and non-GAAP financial measures do not reflect and should be viewed independently of our financial performance determined in accordance with GAAP. Key performance indicators and non-GAAP financial measures are not forecasts or indicators of future or expected results and should not have undue reliance placed upon them by investors.

Where non-GAAP financial measures are included in this press release, the most directly comparable GAAP financial measures and a detailed reconciliation between GAAP and non-GAAP financial measures is included in this press release under 鈥淣on-GAAP Financial Measures鈥�.

Unless otherwise indicated, financial and operating data included in this press release is as of June 30, 2025.

As used in this press release,

鈥淎nnual Recurring Revenue鈥� or 鈥淎RR鈥� is the annualized revenue from subscription services, including subscription fees for our SaaS solutions and related software support, managed platform development services, and transaction-based payment processing services. We generally calculate ARR by annualizing the monthly recurring revenue for all Active Sites as of the last day of each month for the respective reporting period. Our reported ARR is based on a constant currency, using the exchange rates established at the beginning of the year and consistently applied throughout the period and to comparative periods presented. For acquisitions made during each period, the constant currency rate applied is the exchange rate at the date of each acquisition's closure.

鈥淎ctive Sites鈥� represent locations active on PAR鈥檚 subscription services as of the last day of the respective reporting period.

Trademarks.

鈥淧础搁^庐,鈥� 鈥淧础搁 POS^庐鈥�, 鈥淧unchh^庐,鈥� 鈥淧础搁 Ordering^TM鈥�, "PAR OPS^TM," 鈥淒ata Central^庐," 鈥凄别濒补驳别迟^TM,鈥� "PAR Retail^TM", "PAR^庐 Pay鈥�, 鈥淧础搁^庐 Payment Services鈥�, and other trademarks identifying our products and services appearing in this press release belong to us. Solely for convenience, our trademarks referred to in this press release may appear without the ^庐 or ^TM symbols, but such references are not intended to indicate in any way that we will not assert, to the fullest extent under applicable law, our rights to these trademarks.

Forward-Looking Statements.

This press release contains forward-looking statements made pursuant to the safe harbor provisions 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, and the accuracy of such statements is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. Forward-looking statements can be identified by words such as 鈥渂elieve,鈥� 鈥渃ould,鈥� 鈥渨ould,鈥� 鈥渟hould,鈥� 鈥渨ill,鈥� 鈥渃ontinue,鈥� 鈥渁nticipate,鈥� 鈥渆xpect,鈥� 鈥減ath,鈥� 鈥減lan,鈥� 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥渇uture,鈥� 鈥渕ay,鈥� 鈥減otential,鈥� and similar expressions. These statements include, but are not limited to, express or implied forward-looking statements relating to: the plans, strategies and objectives of management relating to our growth, results of operations, and financial performance, including service and product offerings, the development, demand, market share, and competitive performance of our products and services; revenues, gross margins, expenses, cash flows, and other financial measures and key performance indicators, including ARR, Active Sites, subscription service gross margin percentage, net loss, and net loss per share; the availability and terms of product and component supplies for our hardware products; anticipated benefits of acquisitions, divestitures, and capital markets transactions; and macroeconomic trends, geopolitical events, tariffs, and trade disputes and the expected impact of those trends and events on our business, results of operations, and financial performance. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements.

Factors, risks, trends and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements include our ability to successfully develop or acquire and transition new products and services and enhance existing products and services to meet evolving customer needs and respond to emerging technological trends, including our effective us of artificial intelligence (AI) in product development and integration of AI tools into our product and service offerings; our ability to add and retain Active Sites and integration partners; our ability to successfully integrate acquisitions into our operations, and realize the anticipated benefits; macroeconomic trends, such as a recession or slowed economic growth, fluctuating interest rates, inflation, and changes in consumer confidence and discretionary spending; geopolitical events affecting countries where we operate or our customers or suppliers operate, including changes in import/export regulations, such as tariffs, and trade disputes involving the United States and those countries; our ability to retain and manage suppliers, secure alternative suppliers, and manage inventory levels and costs, navigate manufacturing disruptions or logistics challenges, shipping delays, and shipping costs; and the other factors discussed in our most recent Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

See notes to unaudited interim condensed consolidated financial statements included in the Company's quarterly report on Form 10-Q for the quarter ended June 30, 2025 (the 鈥淨uarterly Report鈥�).

See notes to unaudited interim condensed consolidated financial statements included in the Quarterly Report.

PAR TECHNOLOGY CORPORATION
SUPPLEMENTAL INFORMATION
(unaudited)

Non-GAAP Financial Measures

In addition to disclosing financial results in accordance with GAAP, this press release contains references to the non-GAAP financial measures below. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance, enable comparison of financial trends and results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance. Our non-GAAP financial measures reflect adjustments based on one or more of the following items below. The income tax effect of the below adjustments, with the exception of non-recurring income taxes, were not tax-effected due to the valuation allowance on all of our net deferred tax assets.

Our non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated. Additionally, these measures may not be comparable to similarly titled measures disclosed by other companies.

The tables below provide reconciliations between net (loss) income and adjusted EBITDA, diluted net (loss) income per share and non-GAAP diluted net income (loss) per share, and subscription service gross margin percentage and non-GAAP subscription service gross margin percentage.

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View source version on businesswire.com:

Christopher R. Byrnes (315) 743-8376

[email protected],

Source: PAR Technology Corporation