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Par Technology Financials

PAR
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Par Technology (PAR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 36 / 100
Financial Profile 36/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Par Technology has an operating margin of -15.1%, meaning the company retains $-15 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -22.6% the prior year.

Growth
84

Par Technology's revenue surged 30.2% year-over-year to $455.5M, reflecting rapid business expansion. This strong growth earns a score of 84/100.

Leverage
93

Par Technology carries a low D/E ratio of 0.45, meaning only $0.45 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
29

Par Technology's current ratio of 1.66 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 29/100, which could limit financial flexibility.

Cash Flow
8

While Par Technology generated -$27.2M in operating cash flow, capex of $3.3M consumed most of it, leaving -$30.5M in free cash flow. This results in a low score of 8/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Par Technology generates a -10.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -0.6% the prior year.

Piotroski F-Score Weak
3/9

Par Technology passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality
0.32x

For every $1 of reported earnings, Par Technology generates $0.32 in operating cash flow (-$27.2M OCF vs -$84.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-7.9x

Par Technology earns $-7.9 in operating income for every $1 of interest expense (-$68.8M vs $8.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$455.5M
YoY+30.2%
5Y CAGR+16.3%
10Y CAGR+7.1%

Par Technology generated $455.5M in revenue in fiscal year 2025. This represents an increase of 30.2% from the prior year.

EBITDA
-$19.8M
YoY+52.0%

Par Technology's EBITDA was -$19.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 52.0% from the prior year.

Net Income
-$84.5M
YoY-1593.6%

Par Technology reported -$84.5M in net income in fiscal year 2025. This represents a decrease of 1593.6% from the prior year.

EPS (Diluted)
$-2.09
YoY-1392.9%

Par Technology earned $-2.09 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1392.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$30.5M
YoY-16.3%

Par Technology generated -$30.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 16.3% from the prior year.

Cash & Debt
$79.6M
YoY-26.4%
5Y CAGR-15.1%
10Y CAGR+25.8%

Par Technology held $79.6M in cash against $374.1M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
41M
YoY+5.0%
5Y CAGR+13.2%
10Y CAGR+10.0%

Par Technology had 41M shares outstanding in fiscal year 2025. This represents an increase of 5.0% from the prior year.

Margins & Returns

Gross Margin
43.5%
YoY+1.7pp
5Y CAGR+25.1pp
10Y CAGR+23.8pp

Par Technology's gross margin was 43.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.

Operating Margin
-15.1%
YoY+7.5pp
5Y CAGR-3.9pp
10Y CAGR-18.0pp

Par Technology's operating margin was -15.1% in fiscal year 2025, reflecting core business profitability. This is up 7.5 percentage points from the prior year.

Net Margin
-18.5%
YoY-17.1pp
5Y CAGR-1.4pp
10Y CAGR-18.2pp

Par Technology's net profit margin was -18.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 17.1 percentage points from the prior year.

Return on Equity
-10.2%
YoY-9.7pp
5Y CAGR+9.2pp
10Y CAGR-8.9pp

Par Technology's ROE was -10.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.7 percentage points from the prior year.

Capital Allocation

R&D Spending
$81.8M
YoY+21.6%
5Y CAGR+33.5%
10Y CAGR+23.3%

Par Technology invested $81.8M in research and development in fiscal year 2025. This represents an increase of 21.6% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$3.3M
YoY+242.6%
5Y CAGR+20.7%
10Y CAGR+6.9%

Par Technology invested $3.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 242.6% from the prior year.

PAR Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $120.1M+0.8% $119.2M+6.0% $112.4M+8.2% $103.9M-1.1% $105.0M+8.5% $96.8M+23.8% $78.2M+11.5% $70.1M
Cost of Revenue $70.6M+0.9% $70.0M+13.9% $61.4M+10.6% $55.5M-7.5% $60.0M+11.7% $53.7M+16.5% $46.1M+4.8% $44.0M
Gross Profit $49.5M+0.5% $49.2M-3.5% $51.0M+5.5% $48.3M+7.4% $45.0M+4.6% $43.0M+34.4% $32.0M+22.9% $26.1M
R&D Expenses $21.8M+13.1% $19.3M-7.9% $20.9M+5.9% $19.8M+13.4% $17.4M-2.2% $17.8M+9.8% $16.2M+3.0% $15.8M
SG&A Expenses $30.0M-5.4% $31.7M+0.1% $31.7M+8.2% $29.3M-5.5% $31.0M+13.3% $27.4M+7.8% $25.4M+0.8% $25.2M
Operating Income -$18.1M-2.3% -$17.7M-2.0% -$17.3M-9.9% -$15.8M+4.1% -$16.4M-8.1% -$15.2M+26.7% -$20.7M+22.5% -$26.7M
Interest Expense $2.0M+0.3% $2.0M+0.5% $2.0M-24.2% $2.6M-40.8% $4.5M-4.8% $4.7M+97.8% $2.4M+0.4% $2.4M
Income Tax $975K+452.0% -$277K-129.3% $944K-26.3% $1.3M-26.9% $1.8M+168.3% $653K+6.7% $612K+107.9% -$7.8M
Net Income -$20.9M-14.9% -$18.2M+13.6% -$21.0M+13.6% -$24.4M-15.6% -$21.1M-6.2% -$19.8M-136.6% $54.2M+396.3% -$18.3M
EPS (Diluted) N/A $-0.45+13.5% $-0.52+13.3% $-0.60 N/A $-0.56-135.0% $1.60+358.1% $-0.62

PAR Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $1.4B-0.6% $1.4B-1.0% $1.4B+0.7% $1.4B+0.1% $1.4B+6.3% $1.3B+23.0% $1.1B+4.7% $1.0B
Current Assets $232.9M+2.6% $227.1M+3.5% $219.3M-0.3% $219.9M+0.8% $218.0M-6.3% $232.6M-5.8% $246.8M+27.0% $194.3M
Cash & Equivalents $79.6M-14.0% $92.5M+8.6% $85.1M-7.1% $91.7M-15.2% $108.1M+2.2% $105.8M-7.9% $114.9M+126.3% $50.8M
Inventory $27.4M+7.9% $25.4M-7.3% $27.4M+18.2% $23.2M+6.2% $21.9M-8.6% $23.9M-6.3% $25.5M+1.9% $25.1M
Accounts Receivable $81.7M+15.8% $70.5M-2.5% $72.3M+3.3% $70.0M+17.2% $59.7M-0.9% $60.3M+20.1% $50.2M-28.2% $70.0M
Goodwill $898.0M0.0% $898.5M-0.9% $906.4M+1.8% $890.5M+0.3% $887.5M+10.5% $803.1M+28.7% $623.9M+0.8% $618.9M
Total Liabilities $544.0M+0.9% $539.3M+1.3% $532.6M+0.6% $529.6M+4.0% $509.0M-16.1% $606.6M+29.5% $468.4M-2.9% $482.5M
Current Liabilities $140.7M+5.1% $133.9M+3.8% $128.9M+19.9% $107.5M-3.9% $111.8M+2.3% $109.3M+38.2% $79.1M-15.6% $93.7M
Long-Term Debt $374.1M+0.1% $373.5M+0.2% $372.8M-5.0% $392.3M+6.5% $368.4M-21.1% $466.7M+23.3% $378.7M+0.1% $378.2M
Total Equity $825.1M-1.5% $838.0M-2.5% $859.1M+0.8% $852.0M-2.3% $871.7M+25.8% $692.7M+17.7% $588.3M+11.8% $526.4M
Retained Earnings -$364.4M-6.1% -$343.5M-5.6% -$325.3M-6.9% -$304.3M-8.7% -$279.9M-8.1% -$258.9M-8.3% -$239.1M+18.5% -$293.2M

PAR Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow -$11.8M-240.0% $8.4M+226.6% -$6.6M+61.4% -$17.2M-608.8% $3.4M-61.7% $8.8M+163.6% -$13.8M+41.3% -$23.6M
Capital Expenditures $782K-41.9% $1.3M+72.1% $782K+89.3% $413K+130.7% $179K-53.4% $384K+6.1% $362K+704.4% $45K
Free Cash Flow -$12.5M-277.9% $7.0M+195.1% -$7.4M+57.9% -$17.6M-650.2% $3.2M-62.0% $8.4M+159.2% -$14.2M+39.9% -$23.6M
Investing Cash Flow -$2.2M+30.8% -$3.2M-58.7% -$2.0M+64.5% -$5.7M-181.9% -$2.0M+98.1% -$105.2M-233.2% $78.9M+152.0% -$151.9M
Financing Cash Flow $759K+984.3% $70K-90.1% $705K-93.4% $10.7M+1425.4% -$810K-100.9% $87.8M+11671.3% $746K-99.6% $190.8M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

PAR Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 41.2%-0.1pp 41.3%-4.1pp 45.4%-1.2pp 46.6%+3.7pp 42.9%-1.6pp 44.5%+3.5pp 41.0%+3.8pp 37.2%
Operating Margin -15.0%-0.2pp -14.8%+0.6pp -15.4%-0.2pp -15.2%+0.5pp -15.6%+0.1pp -15.7%+10.8pp -26.5%+11.6pp -38.2%
Net Margin -17.4%-2.1pp -15.3%+3.5pp -18.7%+4.7pp -23.4%-3.4pp -20.1%+0.4pp -20.5%-89.8pp 69.3%+95.4pp -26.1%
Return on Equity -2.5%-0.4pp -2.2%+0.3pp -2.5%+0.4pp -2.9%-0.4pp -2.4%+0.4pp -2.9%-12.1pp 9.2%+12.7pp -3.5%
Return on Assets -1.5%-0.2pp -1.3%+0.2pp -1.5%+0.3pp -1.8%-0.2pp -1.5%0.0pp -1.5%-6.7pp 5.1%+6.9pp -1.8%
Current Ratio 1.66-0.0 1.700.0 1.70-0.3 2.05+0.1 1.95-0.2 2.13-1.0 3.12+1.0 2.07
Debt-to-Equity 0.450.0 0.45+0.0 0.43-0.0 0.46+0.0 0.42-0.3 0.67+0.0 0.64-0.1 0.72
FCF Margin -10.4%-16.4pp 5.9%+12.5pp -6.6%+10.3pp -16.9%-20.0pp 3.0%-5.7pp 8.7%+26.9pp -18.2%+15.5pp -33.7%

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Frequently Asked Questions

Par Technology (PAR) reported $455.5M in total revenue for fiscal year 2025. This represents a 30.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Par Technology (PAR) revenue grew by 30.2% year-over-year, from $350.0M to $455.5M in fiscal year 2025.

No, Par Technology (PAR) reported a net income of -$84.5M in fiscal year 2025, with a net profit margin of -18.5%.

Par Technology (PAR) reported diluted earnings per share of $-2.09 for fiscal year 2025. This represents a -1392.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Par Technology (PAR) had EBITDA of -$19.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Par Technology (PAR) had $79.6M in cash and equivalents against $374.1M in long-term debt.

Par Technology (PAR) had a gross margin of 43.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Par Technology (PAR) had an operating margin of -15.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Par Technology (PAR) had a net profit margin of -18.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Par Technology (PAR) has a return on equity of -10.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Par Technology (PAR) generated -$30.5M in free cash flow during fiscal year 2025. This represents a -16.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Par Technology (PAR) generated -$27.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Par Technology (PAR) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.

Par Technology (PAR) invested $3.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Par Technology (PAR) invested $81.8M in research and development during fiscal year 2025.

Par Technology (PAR) had 41M shares outstanding as of fiscal year 2025.

Par Technology (PAR) had a current ratio of 1.66 as of fiscal year 2025, which is generally considered healthy.

Par Technology (PAR) had a debt-to-equity ratio of 0.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Par Technology (PAR) had a return on assets of -6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Par Technology (PAR) had $79.6M in cash against an annual operating cash burn of $27.2M. This gives an estimated cash runway of approximately 35 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Par Technology (PAR) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Par Technology (PAR) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Par Technology (PAR) has an interest coverage ratio of -7.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Par Technology (PAR) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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