Par Technology Stock Price, News & Analysis

PAR Technology Corporation (NYSE: PAR) will announce its first quarter financial results on May 11, 2021, at 7:30 a.m. ET, followed by a conference call at 9:00 a.m. ET. Key executives, including CEO Savneet Singh and CFO Bryan Menar, will provide a business update and answer participant questions. Interested parties can join the call by calling 844-419-5412 or accessing it online. PAR Technology, a leader in restaurant and retail technology, serves over 100,000 restaurants in 110 countries. More details can be found on their website.

ParTech, Inc. (PAR) announced that Culver's, a quick-service restaurant chain with over 790 locations, has selected its Brink POS® system for all locations. Culver's chose Brink POS® due to its industry-leading integration capabilities and will work with RDS Wisconsin for implementation. The partnership aims to enhance customer service and adapt to changing consumer preferences towards online and drive-thru orders. Initial rollout starts this month, with full conversions expected by late 2021.

PAR Technology Corporation announced that its Founder, Dr. John W. Sammon Jr., will not seek re-election and will step down from the Board on June 4, 2021. Dr. Sammon, who founded the company in 1968 and has played a crucial role in its transformation into a top restaurant technology provider, emphasizes the importance of teamwork in PAR's achievements. Current CEO Savneet Singh expressed gratitude for Dr. Sammon's leadership and commitment. PAR Technology continues to innovate within the restaurant and retail tech spaces, enhancing operational efficiency for over 100,000 restaurants globally.

PAR Technology Corporation (NYSE: PAR) has acquired Punchh Inc. for approximately $500 million in cash and stock. This strategic acquisition aims to create a unified commerce cloud platform for enterprise restaurants, integrating point-of-sale, back office, and guest engagement solutions. CEO Savneet Singh highlighted the acquisition's potential to streamline operations and enhance restaurant-guest relationships. Pro-forma estimates indicate a combined annual recurring revenue (ARR) of $65 million by year-end 2020. The deal was financed through equity and debt, including a $160 million common stock sale.

PAR Technology Corporation announces the integration of Deliverect into its Brink POS® system, aimed at enhancing online order management for restaurants. This integration streamlines order processing from various platforms, enhancing operational efficiency and potentially boosting restaurant revenue. Deliverect has processed over 25 million orders globally, lowering order errors by 80% and increasing restaurant revenue by 25%. The collaboration supports over 100,000 restaurants worldwide, making the ordering process smoother for both operators and customers.

ParTech, Inc. (PAR), a leading provider of POS and back-office software for the restaurant sector, has integrated Odyssey Technologies’ Remote Eyes video management software into its Brink POS ecosystem. This software enables restaurant owners to monitor transactions in real-time, enhancing loss prevention and operational efficiency. With employee theft impacting 75% of inventory shortages in restaurants, this partnership aims to provide critical tools for minimizing theft and liability, ultimately improving customer experience and safeguarding profit margins.

PAR Technology Corporation (NYSE: PAR) will participate in the Sidoti Spring 2021 Virtual Conference on March 24-25, 2021. CEO Savneet Singh is scheduled for a fireside chat on March 24 at 11:30 a.m. ET, with a live webcast available on the company's investor relations page. Additionally, Singh will hold virtual one-on-one meetings with registered investors and analysts. PAR Technology provides POS software and solutions, serving over 100,000 restaurants globally.

PAR Technology Corporation (NYSE: PAR) reported a strong Q4 2020 with revenues of $58.5 million, a 10.6% increase year-over-year. However, the GAAP net loss widened to $13 million, or $0.60 per share, compared to a loss of $5.8 million in Q4 2019. For the full year, revenues rose 14.2% to $213.8 million, while the GAAP net loss increased to $36.6 million, or $1.92 per share. Q4 saw record bookings of 1,525 for the Brink platform, with 885 new installations. CEO Savneet Singh emphasized continued investments in growth despite pandemic challenges.