NEW HARTFORD, N.Y. — PAR Technology Corporation (NYSE: PAR) recently reported a net loss of nearly $18.2 million for the third quarter ending Sept. 30. It was a narrower loss than the more than $19.8 million loss (or almost $20.7 million for continuing operations only) that the New Hartford–based company posted in the third quarter […]
NEW HARTFORD, N.Y. — PAR Technology Corporation (NYSE: PAR) recently reported a net loss of nearly $18.2 million for the third quarter ending Sept. 30.
It was a narrower loss than the more than $19.8 million loss (or almost $20.7 million for continuing operations only) that the New Hartford–based company posted in the third quarter of 2024.
PAR Technology reported a net loss per share of 45 cents in this year’s third quarter, compared to 56 cents in the year-ago earnings period, or 58 cents for continuing operations.
Total net revenues at PAR Technology rose 23 percent to nearly $119.2 million in the latest quarter from $96.75 million in the third quarter of 2024. Subscription service revenues increased to almost $74.8 million from $59.9 million, while hardware revenues went up to $29.9 million from $22.65 million.
“PAR continues to scale our business as [annual recurring revenue] approaches $300 million and [total] revenues in the quarter increased by 23 percent from Q3 last year. We continue to feel confident in our ability to grow our revenue base well above our market, while making progress on large tier 1 deals, all while maintaining strong financial discipline,” PAR Technology CEO, Savneet Singh said in PAR’s Nov. 6 earnings report. “In Q3 we launched PAR AI, a new intelligence layer embedded directly into the PAR product Suite. PAR AI delivers real-time intelligence across the restaurant tech stack without the need for extra apps or training. We expect our ability to utilize AI along with our ‘Better Together’ multi-product strategy will drive better outcomes for enterprise customers and allow us to win new market share and increase [average revenue per user] with existing customers.”
PAR Technology is a food-service technology provider, whose products and services include point-of-sale, digital ordering, loyalty, back-office, payments, and hardware. The company says its solutions help restaurant and retail clients to streamline operations, drive higher engagement, and strengthen guest experiences.
PAR’s stock price was down more than 45 percent year to date through Nov. 11, and off 48 percent over the last year.
