Par Technology Stock Price, News & Analysis

Booz Allen Hamilton (NYSE: BAH) has acquired PAR Government Systems (PGSC), a subsidiary of PAR Technology (NYSE: PAR). The acquisition aims to enhance Booz Allen's technology solutions for national defense, focusing on situational awareness, decision-making advantages, and counter-uncrewed aerial systems (UAS) threats.

PGSC, founded in 1985 and headquartered in Rome, New York, specializes in real-time communications and mobile situational awareness. Its expertise will augment Booz Allen’s existing technologies, allowing for a more comprehensive array of solutions for defense clients.

PGSC's capabilities include Integrated Tactical Solutions, Innovative and Commercial Solutions, and Intelligence and Readiness Operations. These will integrate into Booz Allen's global defense business, aiming to deliver advanced geospatial mapping, improved situational awareness, and support for Low Earth Orbit space data solutions.

This acquisition aligns with Booz Allen's VoLT growth strategy and Department of Defense priorities.

PAR Technology announces the PAR Brink POS 2024 Spring Release, featuring new enhancements aimed at improving table service, operational efficiency, and guest experiences for enterprise restaurants. Key upgrades include PAR Pay-At-Table for seamless transactions, a Tip Share feature for transparent gratuity distribution, and pre-authorized credit card tabs for a smooth dining experience. Additional features are tailored reporting for full-service restaurants, gamification for upsells, and automated drive-thru lane sequencing. This release aims to help restaurants navigate challenges such as inflation, labor costs, and lower traffic while maintaining high guest satisfaction.

PAR Technology (NYSE: PAR), a global provider of restaurant technology and unified commerce solutions for enterprise restaurants, announced that its CEO, Savneet Singh, will participate in the J.P. Morgan Global Technology, Media and Communications Conference. The event will take place on May 20th, featuring a fireside chat at 3:50 p.m. ET. PAR's management team will also hold one-on-one meetings with investors and analysts. The fireside chat will be streamed live on PAR's investor relations website, with replays available after the event.

PAR Technology reported strong financial results for the first quarter of 2024, with Annual Recurring Revenue (ARR) growing to $185.7 million, a 60.2% total growth and 24.8% organic growth. The quarterly subscription service revenues increased by 37.2% year-over-year. PAR acquired Stuzo, a digital engagement software provider, and entered into an agreement to acquire TASK, a global food service transaction platform. Revenues for the quarter were reported at $105.5 million, a 5.0% increase compared to the same period in 2023. However, there was a net loss of $18.3 million, with an EBITDA loss of $17.1 million and an Adjusted EBITDA loss of $7.2 million. Adjusted net loss was $10.8 million. The company's key performance indicators ARR and Active Sites were presented as two subscription service product lines: Engagement Cloud and Operator Cloud.

PAR Technology (NYSE: PAR) will release its fiscal 2024 first-quarter financial results on May 9, 2024. The earnings call and webcast will follow the release, providing investors with an opportunity to learn more about the company's performance.