PAR Technology (NYSE: PAR) boosts Q2 revenue 19% and hikes 2026 guidance
Rhea-AI Filing Summary
PAR Technology Corporation reported strong top-line growth for the quarter ended June 30, 2026. Revenue was $133.4 million, up 18.7% year over year, driven by subscription service revenue of $83.4 million and hardware revenue of $35.1 million. Annual Recurring Revenue reached $338.0 million, a 17% increase, with 174.3 thousand Active Sites on its platform.
The company remains unprofitable on a GAAP basis, posting a net loss from continuing operations of $16.9 million, but profitability metrics improved. Adjusted EBITDA rose to $14.3 million from $5.5 million, and non-GAAP diluted net income per share was $0.18 versus $0.01 a year earlier. Management recorded a $5.4 million intangible asset impairment and continues to invest in its PAR Intelligence AI platform.
At June 30, 2026, cash and cash equivalents were $77.4 million and long-term debt was $422.4 million. Reflecting the quarter’s performance, PAR raised full‑year 2026 guidance to revenue of $516.0–$523.0 million and Adjusted EBITDA of $50.0–$53.0 million, and issued third‑quarter 2026 targets for revenue of $128.0–$132.0 million and Adjusted EBITDA of $13.5–$14.5 million.
Positive
- Raised 2026 guidance: revenue outlook increased to $516.0–$523.0 million and Adjusted EBITDA to $50.0–$53.0 million, above prior ranges of $500.0–$515.0 million and $44.0–$47.0 million.
- Profitability improving: Adjusted EBITDA grew to $14.3 million in Q2 2026 from $5.5 million a year earlier, and non-GAAP diluted EPS increased to $0.18 from $0.01.
Negative
- Continued GAAP losses and impairment: net loss from continuing operations was $16.9 million in Q2 2026 and $33.1 million year to date, including a $5.4 million intangible asset impairment.
- Higher leverage and interest expense: long-term debt rose to $422.4 million from $374.1 million since December 31, 2025, and quarterly net interest expense increased to $3.4 million from $1.4 million.
Filing Explained
Outstanding shares rose between December 31, 2025, and June 30, 2026, reducing existing holders’ percentage ownership absent offsetting changes.
At
Additional shares increase the total share count and reduce an existing holder’s percentage ownership absent offsetting changes; the filing therefore supports a dilution consequence, although it does not identify the source of the share-count change in this disclosure.
The filing also reports
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q2 2026 Revenue: $133.4 million
Annual Recurring Revenue: $338.0 million
Q2 2026 Adjusted EBITDA: $14.3 million
+5 more
8 metrics
Q2 2026 Revenue
$133.4 million
Quarter ended June 30, 2026; up from $112.4 million in Q2 2025
Annual Recurring Revenue
$338.0 million
ARR at end of Q2 2026, a 17% year-over-year increase
Q2 2026 Adjusted EBITDA
$14.3 million
Q2 2026 Adjusted EBITDA versus $5.5 million in Q2 2025
Q2 2026 Net Loss from Continuing Operations
$(16.9) million
Quarter ended June 30, 2026; improved from $(21.0) million in Q2 2025
Subscription Service Revenue Q2 2026
$83.391 million
Q2 2026 subscription service revenue versus $71.903 million in Q2 2025
Cash and Cash Equivalents
$77,373 thousand
Balance as of June 30, 2026
Long-Term Debt
$422,351 thousand
As of June 30, 2026; up from $374,070 thousand at December 31, 2025
Active Sites
174.3 thousand
Locations active on PAR’s subscription services as of June 30, 2026
Key Terms
Annual Recurring Revenue, Adjusted EBITDA, Active Sites, Non-GAAP subscription service gross margin percentage, +2 more
6 terms
Annual Recurring Revenue financial
"“Annual Recurring Revenue” or “ARR” is the annualized revenue from subscription services"
Annual recurring revenue is the predictable amount of money a company expects to earn each year from ongoing customer subscriptions or contracts. It helps businesses understand how much steady income they can count on, much like a subscription service that charges customers every month or year. This figure is important because it shows the company's stability and growth potential.
Adjusted EBITDA financial
"Adjusted EBITDA represents net loss before income taxes, interest expense, and depreciation and amortization"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Active Sites financial
"“Active Sites” represent locations active on PAR’s subscription services"
Non-GAAP subscription service gross margin percentage financial
"Represents subscription service gross margin percentage adjusted to exclude amortization and other items"
impairment loss financial
"Impairment loss adjustment reflects impairment charges related to the write-off of an indefinite-lived trademark"
An impairment loss is an accounting write-down recorded when an asset’s recorded value on the books is higher than what the company can realistically recover from using or selling it. Think of it like admitting a used car is worth much less than the loan balance and adjusting the records to match the true value; for investors, impairment losses reduce reported profits and net assets, can signal weaker future cash flow from that asset, and may affect covenants and valuation.
discontinued operations financial
"Discontinued operations adjustment reflects income from discontinued operations related to the divestiture"
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
Earnings Snapshot
Total revenue: $133.4 million · Guidance included
quarter ended June 30, 2026
Total revenue
$133.4 million
up 18.7% from $112.4 million in Q2 2025
Net loss from continuing operations
$(16.9) million
improved from $(21.0) million in Q2 2025
Adjusted EBITDA
$14.3 million
up from $5.5 million in Q2 2025, a $8.7 million improvement
Non-GAAP diluted EPS
$0.18
increased from $0.01 in Q2 2025
Annual Recurring Revenue
$338.0 million
up 17% year over year
Guidance
For Q3 2026, PAR expects revenue of $128.0–$132.0 million and Adjusted EBITDA of $13.5–$14.5 million. For full-year 2026, it guides to revenue of $516.0–$523.0 million and Adjusted EBITDA of $50.0–$53.0 million.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were PAR (PAR) Q2 2026 revenues and year-over-year growth?
PAR reported Q2 2026 revenue of $133.4 million, up 18.7% from $112.4 million in Q2 2025. Subscription service revenue was $83.4 million, hardware revenue $35.1 million, and professional services revenue $14.9 million, reflecting broad-based growth across the business.
How profitable was PAR Technology (PAR) in Q2 2026 on GAAP and non-GAAP bases?
PAR posted a GAAP net loss from continuing operations of $16.9 million in Q2 2026. However, Adjusted EBITDA was $14.3 million, up from $5.5 million, and non-GAAP diluted net income per share was $0.18 versus $0.01 a year earlier, indicating improved underlying profitability.
What were PAR Technology (PAR) ARR and Active Sites at the end of Q2 2026?
At June 30, 2026, PAR’s Annual Recurring Revenue (ARR) was $338.0 million, a 17% year-over-year increase. Active Sites totaled 174.3 thousand, representing locations using PAR’s subscription services across its unified platform.
What guidance did PAR Technology (PAR) provide for Q3 and full-year 2026?
For Q3 2026, PAR expects revenue of $128.0–$132.0 million and Adjusted EBITDA of $13.5–$14.5 million. For full-year 2026, it now guides to revenue of $516.0–$523.0 million and Adjusted EBITDA of $50.0–$53.0 million, both ranges raised from prior levels.
What does PAR Technology’s (PAR) balance sheet look like as of June 30, 2026?
As of June 30, 2026, PAR held cash and cash equivalents of $77.4 million and cash held on behalf of customers of $14.1 million. Total assets were $1.37 billion, long-term debt was $422.4 million, and shareholders’ equity stood at $813.8 million.
How does PAR Technology (PAR) define ARR and Adjusted EBITDA in this report?
ARR is annualized recurring revenue from subscription and related services, generally calculated by annualizing monthly recurring revenue for all Active Sites. Adjusted EBITDA starts from net loss and excludes items such as stock-based compensation, transaction costs, severance, impairment, litigation expense, and other income or expense.
What strategic initiatives did PAR Technology (PAR) highlight for Q2 2026?
Management emphasized continued investment in its PAR Intelligence agentic AI platform and a strong sales pipeline. The company reiterated its goal of deploying PAR Intelligence to 50,000 sites by year-end and highlighted ARR growth and improving Adjusted EBITDA margins as key execution milestones.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): August 6, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (315 ) 738-0600
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, PAR Technology Corporation (the “Company”) issued a press release to report its financial results for the quarter ended June 30, 2026. A copy of the press release is attached to this current report on Form 8-K as Exhibit 99.1.
Item 7.01 Regulation FD Disclosure.
There will be a conference call at 4:30 p.m. (Eastern) on August 6, 2026, during which management will discuss the Company’s financial results for the second quarter ended June 30, 2026. The conference call will be webcast live. To access the webcast, please visit the Investor Relations section of the Company's website at www.partech.com/investor-relations/. A recording of the webcast will be available on this site after the event.
The Company's quarterly earnings presentation containing additional information for the quarter ended June 30, 2026 is attached to this current report on Form 8-K as Exhibit 99.2.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Exhibit Description | |||||||
| 99.1 | PAR Technology Corporation Press Release dated August 6, 2026 | |||||||
| 99.2 | PAR Technology Corporation Earnings Presentation dated August 6, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PAR TECHNOLOGY CORPORATION | ||||||||
(Registrant) | ||||||||
| Date: | August 6, 2026 | /s/ Bryan A. Menar | ||||||
Bryan A. Menar | ||||||||
Chief Financial Officer | ||||||||
(Principal Financial Officer) | ||||||||
Exhibit 99.1
FOR RELEASE: CONTACT: | New Hartford, NY, August 6, 2026 Christopher R. Byrnes (315) 743-8376 chris_byrnes@partech.com, www.partech.com | ||||
PAR TECHNOLOGY CORPORATION ANNOUNCES SECOND QUARTER 2026 RESULTS
•Quarterly revenues increased 19% year-over-year to $133.4 million
•Annual Recurring Revenue (ARR)(1) increased 17% year-over-year to $338.0 million
New Hartford, NY - August 6, 2026 -- PAR Technology Corporation (NYSE: PAR) (“PAR Technology” or the “Company”) today announced its financial results for the second quarter ended June 30, 2026.
PAR Technology CEO, Savneet Singh, commented on the results, “Our second quarter performance highlighted the acceleration in revenue we’ve been building toward, as well as the continued steep increase in profitability we’ve been guiding to. We ended the quarter with a strong pipeline to help us hit our second-half targets and set up for a strong 2027. In addition to hitting and exceeding our financial goals, we continued to make large investments in our platform and are on track to hit our goal of deploying PAR Intelligence to 50,000 sites by year end. Our operational discipline is allowing us to balance our growing profitability with long-term investments needed to capture the large AI opportunity in front of us."
Q2 2026 Financial Highlights | |||||||||||||||||||||||
| (in millions, except % and per share amounts) | GAAP | Non-GAAP(1) | |||||||||||||||||||||
Q2 2026 | Q2 2025 | vs. Q2 2025 | Q2 2026 | Q2 2025 | vs. Q2 2025 | ||||||||||||||||||
| Revenue | $133.4 | $112.4 | better 18.7% | ||||||||||||||||||||
| Net Loss/Adjusted EBITDA | $(16.9) | $(21.0) | better $4.1 million | $14.3 | $5.5 | better $8.7 million | |||||||||||||||||
| Diluted Net (Loss) Income Per Share | $(0.41) | $(0.52) | better $0.11 | $0.18 | $0.01 | better $0.17 | |||||||||||||||||
| Subscription Service Gross Margin Percentage | 55.2% | 55.3% | worse 10 bps | 65.1% | 66.4% | worse 130 bps | |||||||||||||||||
Year-to-Date 2026 Financial Highlights(2) | |||||||||||||||||||||||
| (in millions, except % and per share amounts) | GAAP | Non-GAAP(1) | |||||||||||||||||||||
Q2 2026 | Q2 2025 | vs. Q2 2025 | Q2 2026 | Q2 2025 | vs. Q2 2025 | ||||||||||||||||||
| Revenue | $257.4 | $216.3 | better 19.0% | ||||||||||||||||||||
| Net Loss from Continuing Operations/Adjusted EBITDA | $(33.1) | $(45.6) | better $12.5 million | $23.2 | $10.1 | better $13.1 million | |||||||||||||||||
| Diluted Net (Loss) Income Per Share from Continuing Operations | $(0.80) | $(1.13) | better $0.33 | $0.26 | $(0.00) | better $0.26 | |||||||||||||||||
| Subscription Service Gross Margin Percentage | 55.4% | 56.5% | worse 110 bps | 65.4% | 67.7% | worse 230 bps | |||||||||||||||||
1
Beginning in the second quarter of 2026, the Company's key performance indicators ARR and Active Sites(1) are presented on a total basis rather than disaggregated into our Engagement Cloud and Operator Cloud subscription service product lines as presented in prior periods. As multi-product arrangements have become increasingly common and our products are marketed and delivered as a unified platform, management no longer views or manages the business along these two separate product lines. This change aligns our key performance indicators with how management currently evaluates the business.
Highlights - Second Quarter 2026(1):
•ARR at end of Q2 '26 totaled $338.0 million
•Active Sites as of June 30, 2026 totaled 174.3 thousand
Outlook(3)
Reflecting second quarter results, PAR is raising its full-year 2026 outlook.
For the third quarter ending September 30, 2026, PAR expects to report:
•Total revenue in the range of $128.0 million to $132.0 million
•Adjusted EBITDA in the range of $13.5 million to $14.5 million
For fiscal year 2026, PAR expects to report:
•Total revenue in the range of $516.0 million to $523.0 million (up from $500.0 million to $515.0 million)
•Adjusted EBITDA in the range of $50.0 million to $53.0 million (up from $44.0 million to $47.0 million)
The outlook provided above constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors. See cautionary note regarding “Forward-Looking Statements” below.
(1) See “Key Performance Indicators and Non-GAAP Financial Measures” for descriptions of key performance indicators and non-GAAP financial measures, and reconciliations of non-GAAP financial measures to corresponding GAAP financial measures. Amounts presented in the reconciliations and other tables presented herein may not sum due to rounding.
(2) Results exclude historical results from our Government segment which are reported as discontinued operations.
(3) Neither net loss, the most directly comparable GAAP financial measure to adjusted EBITDA, nor a reconciliation of adjusted EBITDA to net loss is available on a forward-looking basis without unreasonable efforts because certain required information is unknown, out of our control, or cannot be reasonably predicted. These items include, but are not limited to, stock-based compensation expense, transaction and integration costs related to acquisitions, severance costs related to restructuring activities, impairment losses, and debt extinguishment activity. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results.
Earnings Conference Call.
There will be a conference call at 4:30 p.m. (Eastern) on August 6, 2026, during which management will discuss the Company's financial results for the second quarter ended June 30, 2026. The conference call will be webcast live. To access the webcast, please visit the Investor Relations section of the Company's website at www.partech.com/investor-relations/. A recording of the webcast will be available on this site after the event.
About PAR Technology Corporation.
PAR Technology Corporation (NYSE: PAR) delivers an agentic operating platform that enables smarter, more consistent operations for multi‑unit brands across restaurant, retail, and high‑volume commerce. PAR’s platform brings together mission‑critical software—point of sale, digital ordering, loyalty, payments, and back‑office systems—along with hardware and data to orchestrate decisions and workflows across systems, locations, and guest touchpoints in real time. Designed to drive measurable outcomes, PAR helps brands improve efficiency, deliver better experiences, and make every store more profitable. Learn more at partech.com.
2
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 “Non-GAAP Financial Measures”.
Unless otherwise indicated, financial and operating data included in this press release is as of June 30, 2026.
As used in this press release,
“Annual Recurring Revenue” or “ARR” 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.
“Active Sites” represent locations active on PAR’s subscription services as of the last day of the respective reporting period.
Trademarks.
“PAR®,” “PAR POSTM”, “Punchh®,” “PAR OrderingTM”, "PAR OPS®," “Data Central®," “DelagetTM,” "PAR RetailTM", "PAR® Pay”, 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 ® 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 “believe,” “could,” “would,” “should,” “will,” “continue,” “anticipate,” “expect,” “path,” “plan,” “intend,” “estimate,” “future,” “may,” “potential,” and similar expressions. These statements include, but are not limited to, express or implied forward-looking statements relating to: our future financial performance, including revenues, gross margins, expenses, cash flows, and other financial measures and key performance indicators; 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; 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
3
and respond to emerging technological trends, including through effective use of artificial intelligence (AI) in product development and integration of AI tools across our products, service offerings and our customers’ data; 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.
4
PAR TECHNOLOGY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands, except share and per share amounts)
| Assets | June 30, 2026 | December 31, 2025 | |||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 77,373 | $ | 79,565 | |||||||
| Cash held on behalf of customers | 14,133 | 14,120 | |||||||||
| Short-term investments | 569 | 579 | |||||||||
| Accounts receivable – net | 76,281 | 81,706 | |||||||||
| Inventories | 34,033 | 27,436 | |||||||||
| Other current assets | 29,757 | 29,525 | |||||||||
| Total current assets | 232,146 | 232,931 | |||||||||
| Property, plant and equipment – net | 11,943 | 13,286 | |||||||||
| Goodwill | 895,113 | 898,035 | |||||||||
| Intangible assets – net | 204,923 | 203,370 | |||||||||
| Lease right-of-use assets | 8,929 | 8,176 | |||||||||
| Other assets | 16,818 | 13,346 | |||||||||
| Total Assets | $ | 1,369,872 | $ | 1,369,144 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Current liabilities: | |||||||||||
| Current portion of long-term debt | $ | — | $ | 19,954 | |||||||
| Accounts payable | 36,550 | 39,332 | |||||||||
| Accrued salaries and benefits | 17,698 | 25,186 | |||||||||
| Accrued expenses | 11,352 | 12,380 | |||||||||
| Customers payable | 14,133 | 14,120 | |||||||||
| Lease liabilities – current portion | 2,099 | 1,899 | |||||||||
| Customer deposits and deferred service revenue | 23,228 | 27,867 | |||||||||
| Total current liabilities | 105,060 | 140,738 | |||||||||
| Lease liabilities – net of current portion | 7,086 | 6,435 | |||||||||
| Deferred service revenue – noncurrent | 2,031 | 1,841 | |||||||||
| Long-term debt | 422,351 | 374,070 | |||||||||
| Other long-term liabilities | 19,574 | 20,910 | |||||||||
| Total liabilities | 556,102 | 543,994 | |||||||||
| Shareholders’ equity: | |||||||||||
| Preferred stock, $0.02 par value, 1,000,000 shares authorized, none outstanding | — | — | |||||||||
Common stock, $0.02 par value, 116,000,000 shares authorized, 42,935,541 and 42,226,765 shares issued, 41,362,708 and 40,653,932 outstanding at June 30, 2026 and December 31, 2025, respectively | 851 | 836 | |||||||||
| Additional paid-in capital | 1,252,971 | 1,226,039 | |||||||||
| Accumulated deficit | (397,469) | (364,404) | |||||||||
| Accumulated other comprehensive loss | (13,691) | (8,429) | |||||||||
Treasury stock, at cost, 1,572,833 and 1,572,833 shares at June 30, 2026 and December 31, 2025, respectively | (28,892) | (28,892) | |||||||||
| Total shareholders’ equity | 813,770 | 825,150 | |||||||||
| Total Liabilities and Shareholders’ Equity | $ | 1,369,872 | $ | 1,369,144 | |||||||
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, 2026 (the “Quarterly Report”).
5
PAR TECHNOLOGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in thousands, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Revenues, net: | |||||||||||||||||||||||
| Subscription service | $ | 83,391 | $ | 71,903 | $ | 161,913 | $ | 140,313 | |||||||||||||||
| Hardware | 35,086 | 26,864 | 64,340 | 48,707 | |||||||||||||||||||
| Professional service | 14,933 | 13,637 | 31,130 | 27,243 | |||||||||||||||||||
| Total revenues, net | 133,410 | 112,404 | 257,383 | 216,263 | |||||||||||||||||||
| Cost of sales: | |||||||||||||||||||||||
| Subscription service | 37,335 | 32,144 | 72,188 | 61,044 | |||||||||||||||||||
| Hardware | 27,954 | 19,540 | 50,882 | 36,008 | |||||||||||||||||||
| Professional service | 11,538 | 9,728 | 23,229 | 19,877 | |||||||||||||||||||
| Total cost of sales | 76,827 | 61,412 | 146,299 | 116,929 | |||||||||||||||||||
| Gross margin | 56,583 | 50,992 | 111,084 | 99,334 | |||||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Sales and marketing | 11,564 | 12,274 | 23,849 | 24,056 | |||||||||||||||||||
| General and administrative | 26,288 | 31,697 | 56,984 | 60,981 | |||||||||||||||||||
| Research and development | 22,507 | 20,934 | 44,482 | 40,701 | |||||||||||||||||||
| Amortization of identifiable intangible assets | 3,725 | 3,394 | 7,156 | 6,653 | |||||||||||||||||||
| Intangible asset impairment loss | 5,400 | — | 5,400 | — | |||||||||||||||||||
| Total operating expenses | 69,484 | 68,299 | 137,871 | 132,391 | |||||||||||||||||||
| Operating loss | (12,901) | (17,307) | (26,787) | (33,057) | |||||||||||||||||||
| Other income (expense), net | 774 | (1,381) | 1,601 | (1,472) | |||||||||||||||||||
| Interest expense, net | (3,386) | (1,408) | (5,318) | (3,042) | |||||||||||||||||||
| Gain (loss) on extinguishment of debt, net | — | — | 380 | (5,791) | |||||||||||||||||||
| Loss from continuing operations before income taxes | (15,513) | (20,096) | (30,124) | (43,362) | |||||||||||||||||||
| Provision for income taxes | (1,383) | (944) | (2,941) | (2,225) | |||||||||||||||||||
| Net loss from continuing operations | (16,896) | (21,040) | (33,065) | (45,587) | |||||||||||||||||||
| Net income from discontinued operations | — | — | — | 197 | |||||||||||||||||||
| Net loss | $ | (16,896) | $ | (21,040) | $ | (33,065) | $ | (45,390) | |||||||||||||||
| Net (loss) income per share (basic and diluted): | |||||||||||||||||||||||
| Continuing operations | $ | (0.41) | $ | (0.52) | $ | (0.80) | $ | (1.13) | |||||||||||||||
| Discontinued operations | — | — | — | — | |||||||||||||||||||
| Total | $ | (0.41) | $ | (0.52) | $ | (0.80) | $ | (1.13) | |||||||||||||||
| Weighted average shares outstanding (basic and diluted) | 41,281 | 40,520 | 41,140 | 40,348 | |||||||||||||||||||
See notes to unaudited interim condensed consolidated financial statements included in the Quarterly Report.
6
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.
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.
| Non-GAAP Measure or Adjustment | Definition | Usefulness to management and investors | ||||||
| Non-GAAP subscription service gross margin percentage | Represents subscription service gross margin percentage adjusted to exclude amortization from acquired and internally developed software, stock-based compensation, severance, and impairment of capitalized software development costs. | We believe that non-GAAP subscription service gross margin percentage and adjusted EBITDA provide useful perspectives with respect to the Company's core operating performance and ongoing cash earnings by adjusting for certain non-cash and non-recurring charges that may not be indicative of our financial performance. | ||||||
| Adjusted EBITDA | Represents net loss before income taxes, interest expense, and depreciation and amortization adjusted to exclude discontinued operations, stock-based compensation, transaction costs, severance, impairment loss, litigation expense, (gain) loss on extinguishment of debt, net, and other income (expense), net. | |||||||
| Non-GAAP diluted net income (loss) per share | Represents net loss per share excluding amortization of acquired intangible assets, non-cash interest, discontinued operations, stock-based compensation, transaction costs, severance, impairment loss, litigation expense, (gain) loss on extinguishment of debt, net, and other income (expense), net, as well as the income tax effect of these adjustments. | We believe that adjusting our diluted net loss per share to remove non-cash and non-recurring charges provides a useful perspective with respect to the Company's operating performance as well as comparisons to past and competitor operating results. | ||||||
| Stock-based compensation | Consists of non-cash charges related to our employee equity incentive plans. | We exclude stock-based compensation because management does not view these non-cash charges as part of our core operating performance. This adjustment facilitates a useful evaluation of our current operating performance as well as comparisons to past and competitor operating results. | ||||||
7
| Non-GAAP Measure or Adjustment | Definition | Usefulness to management and investors | ||||||
| Transaction costs | Adjustment reflects non-recurring professional fees incurred in transaction due diligence and integration. | We exclude professional fees incurred in corporate development because management does not view these non-recurring charges, which are inconsistent in size and are significantly impacted by the timing and valuation of our transactions, as part of our core operating performance. This adjustment facilitates a useful evaluation of our current operating performance, comparisons to past and competitor operating results, and additional means to evaluate expense trends. | ||||||
| Severance | Adjustment reflects severance tied to non-recurring restructuring activities included in cost of sales, sales and marketing expense, general and administrative expense, and research and development expense. | We exclude these non-recurring adjustments because management does not view these costs as part of our core operating performance. These adjustments facilitate a useful evaluation of our current operating performance as well as comparisons to past and competitor operating results. | ||||||
| Litigation expense | Adjustment reflects non-recurring legal fees incurred in connection with certain litigation matters. | |||||||
| Impairment loss | Adjustment reflects impairment charges related to the write-off of an indefinite-lived trademark acquired in the Stuzo Acquisition and the write-off of capitalized software development costs related to the abandoned PAR Clear product. | |||||||
| (Gain) loss on extinguishment of debt, net | Adjustment reflects gain recognized on the repurchase of a portion of the 2027 Notes, partially offset by loss recognized on the induced conversion of a portion of the 2026 Notes, and loss recognized on early repayment of the Credit Facility. | |||||||
| Discontinued operations | Adjustment reflects income from discontinued operations related to the divestiture of our Government segment. | |||||||
| Other expense (income), net | Adjustment reflects foreign currency transaction gains and losses and other non-recurring income and expenses recorded in other income (expense), net in the accompanying statements of operations. | |||||||
| Non-cash interest | Adjustment reflects non-cash amortization of issuance costs and discount related to the Company's long-term debt. | We exclude these non-cash and non-recurring adjustments for purposes of calculating non-GAAP diluted net income (loss) per share because management does not view these costs as part of our core operating performance. These adjustments facilitate a useful evaluation of our current operating performance, comparisons to past and competitor operating results, and additional means to evaluate expense trends. | ||||||
| Acquired intangible assets amortization | Adjustment reflects amortization expense of acquired developed technology included within cost of sales and amortization expense of acquired intangible assets. | |||||||
8
The tables below provide reconciliations between net loss and adjusted EBITDA, diluted net loss 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. Amounts presented in the reconciliations and other tables presented herein may not sum due to rounding.
| (in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| Reconciliation of Net Loss to Adjusted EBITDA | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Net loss | $ | (16,896) | $ | (21,040) | $ | (33,065) | $ | (45,390) | |||||||||||||||
| Discontinued operations | — | — | — | (197) | |||||||||||||||||||
| Net loss from continuing operations | (16,896) | (21,040) | (33,065) | (45,587) | |||||||||||||||||||
| Provision for income taxes | 1,383 | 944 | 2,941 | 2,225 | |||||||||||||||||||
| Interest expense, net | 3,386 | 1,408 | 5,318 | 3,042 | |||||||||||||||||||
| Depreciation and amortization | 12,838 | 12,415 | 24,850 | 24,297 | |||||||||||||||||||
| Stock-based compensation | 6,759 | 7,887 | 13,962 | 15,068 | |||||||||||||||||||
| Transaction costs | 10 | 561 | 604 | 1,716 | |||||||||||||||||||
| Severance | 1,287 | 638 | 3,956 | 710 | |||||||||||||||||||
| Impairment loss | 5,482 | — | 5,482 | — | |||||||||||||||||||
| Litigation expense | 805 | 1,347 | 1,161 | 1,347 | |||||||||||||||||||
| (Gain) loss on extinguishment of debt, net | — | — | (380) | 5,791 | |||||||||||||||||||
| Other (income) expense, net | (774) | 1,381 | (1,601) | 1,472 | |||||||||||||||||||
| Adjusted EBITDA | $ | 14,280 | $ | 5,541 | $ | 23,228 | $ | 10,081 | |||||||||||||||
9
Beginning in the second quarter of 2026, the Company revised its calculation of non-GAAP net income (loss) per share to: (i) reflect the current and deferred income tax effects attributable to its non-GAAP adjustments; and (ii) include the dilutive effect of equity-based awards and other potentially dilutive securities when the Company reports non-GAAP net income, even when such securities are excluded from GAAP diluted earnings per share because they were antidilutive to the GAAP net loss. Prior period non-GAAP amounts presented herein have been recast to conform to the revised methodology. These revisions affect only the Company’s non-GAAP measures and do not affect its GAAP financial statements, GAAP net income (loss), or GAAP net income (loss) per share.
| (in thousands, except per share amounts) | Three Months Ended June 30, | ||||||||||||||||||||||
| Reconciliation of GAAP Diluted Net Loss per share to Non-GAAP Diluted Net Income per share | 2026 | 2025 | |||||||||||||||||||||
| Net loss / diluted net loss per share | $ | (16,896) | $ | (0.41) | $ | (21,040) | $ | (0.52) | |||||||||||||||
| Non-cash interest | 667 | 0.02 | 578 | 0.01 | |||||||||||||||||||
| Acquired intangible assets amortization | 10,681 | 0.26 | 9,745 | 0.24 | |||||||||||||||||||
| Stock-based compensation | 6,759 | 0.16 | 7,887 | 0.19 | |||||||||||||||||||
| Transaction costs | 10 | — | 561 | 0.01 | |||||||||||||||||||
| Severance | 1,287 | 0.03 | 638 | 0.02 | |||||||||||||||||||
| Impairment loss | 5,482 | 0.13 | — | — | |||||||||||||||||||
| Litigation expense | 805 | 0.02 | 1,347 | 0.03 | |||||||||||||||||||
| Other (income) expense, net | (774) | (0.02) | 1,381 | 0.03 | |||||||||||||||||||
Income tax effects(1) | (516) | (0.01) | (522) | (0.01) | |||||||||||||||||||
| Non-GAAP net income / non-GAAP basic net income per share | $ | 7,505 | $ | 0.18 | $ | 575 | $ | 0.01 | |||||||||||||||
Dilution impact of incremental shares(2) | — | — | |||||||||||||||||||||
| Non-GAAP diluted net income per share | $ | 0.18 | $ | 0.01 | |||||||||||||||||||
| GAAP weighted average shares outstanding, basic and diluted | 41,281 | 40,520 | |||||||||||||||||||||
| Add: Dilutive common stock equivalents | 549 | 832 | |||||||||||||||||||||
Non-GAAP weighted average shares outstanding, diluted(3) | 41,830 | 41,352 | |||||||||||||||||||||
(1) The income tax effect of the non-GAAP adjustments reflects the jurisdiction-specific tax consequences attributable to those adjustments, calculated by (i) applying the applicable statutory tax rate to non-GAAP adjustments in jurisdictions where no valuation allowance exists; and (ii) applying no tax effect to adjustments in jurisdictions with a full valuation allowance.
(2) Represents the incremental effect of dilutive securities included in the calculation of non-GAAP diluted weighted average shares outstanding.
(3) Non-GAAP diluted weighted average shares outstanding include the effect of potentially dilutive common stock equivalents (stock options, restricted stock units, and warrants) under the treasury stock method. Shares issuable upon conversion of the Company's convertible senior notes were excluded because their conversion would have been antidilutive to non-GAAP net income per share for the periods presented after applying the if-converted method from the beginning of the period or, if later, the issuance date, which requires adding back the related interest expense to the numerator and including the shares issuable upon conversion in the denominator.
10
| (in thousands, except per share amounts) | Six Months Ended June 30, | ||||||||||||||||||||||
| Reconciliation of GAAP Diluted Net Loss per share to Non-GAAP Diluted Net Income (Loss) per share | 2026 | 2025 | |||||||||||||||||||||
| Net loss / diluted net loss per share | $ | (33,065) | $ | (0.80) | $ | (45,390) | $ | (1.13) | |||||||||||||||
| Discontinued operations | — | — | (197) | — | |||||||||||||||||||
| Net loss from continuing operations | (33,065) | (0.80) | (45,587) | (1.13) | |||||||||||||||||||
| Non-cash interest | 1,265 | 0.03 | 1,167 | 0.03 | |||||||||||||||||||
| Acquired intangible assets amortization | 20,547 | 0.50 | 19,210 | 0.48 | |||||||||||||||||||
| Stock-based compensation | 13,962 | 0.34 | 15,068 | 0.37 | |||||||||||||||||||
| Transaction costs | 604 | 0.01 | 1,716 | 0.04 | |||||||||||||||||||
| Severance | 3,956 | 0.10 | 710 | 0.02 | |||||||||||||||||||
| Impairment loss | 5,482 | 0.13 | — | — | |||||||||||||||||||
| Litigation expense | 1,161 | 0.03 | 1,347 | 0.03 | |||||||||||||||||||
| (Gain) loss on extinguishment of debt, net | (380) | (0.01) | 5,791 | 0.14 | |||||||||||||||||||
| Other (income) expense, net | (1,601) | (0.04) | 1,472 | 0.04 | |||||||||||||||||||
Income tax effects(1) | (1,038) | (0.03) | (1,019) | (0.03) | |||||||||||||||||||
| Non-GAAP net income (loss) / non-GAAP basic net income (loss) per share | $ | 10,893 | $ | 0.26 | $ | (125) | $ | (0.00) | |||||||||||||||
Dilution impact of incremental shares(2) | — | — | |||||||||||||||||||||
| Non-GAAP diluted net income (loss) per share | $ | 0.26 | $ | (0.00) | |||||||||||||||||||
| GAAP weighted average shares outstanding, basic and diluted | 41,140 | 40,348 | |||||||||||||||||||||
| Add: Dilutive common stock equivalents | 758 | 718 | |||||||||||||||||||||
Non-GAAP weighted average shares outstanding, diluted(3) | 41,898 | 41,066 | |||||||||||||||||||||
(1) The income tax effect of the non-GAAP adjustments reflects the jurisdiction-specific tax consequences attributable to those adjustments, calculated by (i) applying the applicable statutory tax rate to non-GAAP adjustments in jurisdictions where no valuation allowance exists; and (ii) applying no tax effect to adjustments in jurisdictions with a full valuation allowance.
(2) Represents the incremental effect of dilutive securities included in the calculation of non-GAAP diluted weighted average shares outstanding.
(3) Non-GAAP diluted weighted average shares outstanding include the effect of potentially dilutive common stock equivalents (stock options, restricted stock units, and warrants) under the treasury stock method. Shares issuable upon conversion of the Company's convertible senior notes were excluded because their conversion would have been antidilutive to non-GAAP net income per share for the periods presented after applying the if-converted method from the beginning of the period or, if later, the issuance date, which requires adding back the related interest expense to the numerator and including the shares issuable upon conversion in the denominator.
| (in thousands, except percentages) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| Reconciliation between GAAP and Non-GAAP Subscription Service Gross Margin Percentage | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Subscription Service Gross Margin Percentage | 55.2 | % | 55.3 | % | 55.4 | % | 56.5 | % | |||||||||||||||
| Subscription Service Gross Margin | $ | 46,056 | $ | 39,759 | $ | 89,725 | $ | 79,269 | |||||||||||||||
| Depreciation and amortization | 7,936 | 7,836 | 15,358 | 15,431 | |||||||||||||||||||
| Stock-based compensation | 206 | 172 | 390 | 299 | |||||||||||||||||||
| Severance | 43 | — | 251 | — | |||||||||||||||||||
| Impairment Loss | 82 | — | 82 | — | |||||||||||||||||||
| Non-GAAP Subscription Service Gross Margin | $ | 54,323 | $ | 47,767 | $ | 105,806 | $ | 94,999 | |||||||||||||||
| Non-GAAP Subscription Service Gross Margin Percentage | 65.1 | % | 66.4 | % | 65.4 | % | 67.7 | % | |||||||||||||||
11
partech.com Q2 2026 Earnings Presentation August 6, 2026 NYSE: PAR
Forward-Looking Statements. This presentation 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 “believe,” “could,” “would,” “should,” “will,” “continue,” “anticipate,” “expect,” “path,” “plan,” “intend,” “estimate,” “future,” “may,” “potential,” and similar expressions. These statements include, but are not limited to, express or implied forward-looking statements relating to: our future financial performance, including revenues, gross margins, expenses, cash flows, and other financial measures and key performance indicators; 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; 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 through effective use of artificial intelligence (AI) in product development and integration of AI tools across our products, service offerings and our customers’ data; 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 presentation, 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. Industry and Market Data. Market, industry, and other data included in this presentation are from or based on our own internal good faith estimates and research, and on publicly available publications, research, surveys and studies conducted by third parties, which we believe are reliable, but have not independently verified. Similarly, while we believe our internal estimates and research are reliable, we have not independently verified our internal estimates or research. While we are not aware of any misstatements regarding any market, industry, or other data used by us or expressed in this presentation, such information, because it has not been verified or, by its nature - market surveys, estimates, projections or similar data, are inherently subject to uncertainties, and actual results may differ materially from the assumptions and circumstances reflected in this information. Key Performance Indicators and Non-GAAP Financial Measures.(1) 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 presentation as 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 historic non-GAAP financial measures are included in this presentation, the most directly comparable GAAP financial measures and a detailed reconciliation between GAAP and non-GAAP financial measures is included in the Appendix to this presentation. Unless otherwise indicated, financial and operating data included in this presentation is as of June 30, 2026. Trademarks. “PAR®,” “PAR POSTM”, “Punchh®,” “PAR OrderingTM”, "PAR OPS®," “Data Central®," “DelagetTM,” "PAR RetailTM", "PAR® Pay”, and other trademarks identifying our products and services appearing in this presentation belong to us. Solely for convenience, our trademarks referred to in this presentation may appear without the ® 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. This presentation may also contain trade names and trademarks of other companies. Our use of such other companies’ trade names or trademarks is not intended to imply any endorsement or sponsorship by these companies of us or our products or services. (1) See Appendix for Non-GAAP reconciliations and Key Performance Indicators 2partech.com
Software Renaissance Building a Unified Platform Global Food Service Pure Play Our Journey… So Far (Dollar values represent ARR) • Acquired PAR POS • Restructured PAR, new team, mission, values • Recapitalized PAR to invest in SaaS • Acquired Data Central 2014 202520242020 20232021 20222019 $19.2M Q4 2019 $88.2M Q4 2021 $136.9M Q4 2023 • Launched PAR Payments • Acquired loyalty provider Punchh • Acquired PAR Ordering • Crossed 100k Active Sites • Acquired loyalty provider PAR Retail and international solutions TASK and Plexure • Acquired analytics and intelligence provider Delaget • Divested Government segment to become a pure play food service tech company • Ship and scale the first wave of AI-powered products and workflows • Unify intelligence across all business units into one layer — PAR Intelligence Dynastic AI Platform 2026 $338.0M Q2 2026$288.2M Q2 2025 PAR I ntelli gence partech.com 3
4partech.com • Unified agentic operating platform offering integrated solutions and sophisticated data insights • Pairs with our state of the art hardware offerings for a complete tech stack • Supported by our comprehensive professional service offerings to drive a positive customer experience Building a Unified Experience
5partech.com Financial Review Second Quarter 2026 Highlights
6partech.com Q2 2026 Highlights 1. Adjusted EBITDA is a Non-GAAP financial measure. Please see Appendix for a detailed reconciliation from net loss to Adjusted EBITDA. 3 4 Improving Cash Flow Scaling PAR Intelligence • Cash provided by operating activities for Q2 2026 was $7.2 million as we drive incremental profitability • Expanded the rollout of PAR Intelligence, deploying agentic AI capabilities across the PAR platform • Consistent delivery on strong organic ARR growth year-over-year 2 • Adjusted EBITDA(1) of $14.3 million in Q2 2026, an increase of $8.7 million from Q2 2025 and $5.3 million sequentially from Q1 2026 12% Organic ARR Growth1 Accelerating Adjusted EBITDA Expansion
7partech.com 17% Y/Y Growth 288.2 300.1 317.2 315.7 323.6 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 ($'000,000) Organic ARR 12% Y/Y Growth 288.2 300.1 317.2 330.1 338.0 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Total ARR Strong Organic & Inorganic ARR Growth Year-over-year metrics are for the quarter ended 6/30/2026 compared to the quarter ended 6/30/2025. Please see Appendix — Key Performance Indicators for more information on ARR. The charts above present our ARR on a constant currency basis, calculated using the exchange rates set at the beginning of 2026.
As We Grow, Efficiency Improves 5.5 5.8 7.0 8.9 14.3 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Adjusted EBITDA(1) ($000,000) Operating Leverage Flowing Through 8 1. Adjusted EBITDA is a Non-GAAP financial measure. Please see Appendix for a detailed reconciliation from net loss to Adjusted EBITDA. partech.com 6 Consecutive Quarters of Growth 158% Y/Y growth from Q2'25 60% sequential growth from Q1'26 Adjusted EBITDA Margin 10.7% in Q2'26 Y/Y improvement of 580 bps
9partech.com Q2 '26 Financials Consolidated Highlights • 11% increase in gross margin from Q2 2025 • $8.7 million increase in Adjusted EBITDA(1) from Q2 2025 Subscription Service Highlights • 17% increase in ARR from Q2 2025 • 16% increase in revenue from Q2 2025 • 16% increase in gross margin from Q2 2025 Three Months Ended June 30, (in thousands) 2026 2025 Revenues, net: Subscription service $ 83,391 $ 71,903 Hardware 35,086 26,864 Professional service 14,933 13,637 Total revenues, net 133,410 112,404 Total gross margin 56,583 50,992 Operating expenses: Sales and marketing 11,564 12,274 General and administrative 26,288 31,697 Research and development 22,507 20,934 Amortization of identifiable intangible assets 3,725 3,394 Intangible asset impairment loss 5,400 — Total operating expenses 69,484 68,299 Other income (expense), net 774 (1,381) Interest expense, net (3,386) (1,408) Loss from continuing operations before income taxes (15,513) (20,096) Provision for income taxes (1,383) (944) Net loss (16,896) (21,040) Non-GAAP adjustments 31,176 26,581 Adjusted EBITDA(1) $ 14,280 $ 5,541 1. Adjusted EBITDA is a Non-GAAP financial measure. Please see Appendix for a detailed reconciliation from net loss to Adjusted EBITDA.
10partech.com Appendix
11partech.com (in thousands) 3 Months Ended Q2 '25 Q2 '26 Net loss $(21,040) $(16,896) Provision for income taxes 944 1,383 Interest expense, net 1,408 3,386 Depreciation and amortization 12,415 12,838 Stock-based compensation 7,887 6,759 Transaction costs 561 10 Severance 638 1,287 Impairment loss — 5,482 Litigation expense 1,347 805 Other expense (income), net 1,381 (774) Adjusted EBITDA $5,541 $14,280 Net Loss to Adjusted EBITDA Reconciliation
12partech.com Key Performance Indicators • Annual Recurring Revenue or "ARR” 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. Applying a constant currency impacted our reported ARR figures for prior periods presented, beginning with Q3 2024, as exchange rate effects began with the acquisition of TASK Group Holdings Limited in 2024. • “Active Sites” represent locations active on PAR’s subscription services as of the last day of the respective reporting period. • “Non-GAAP Subscription Service Gross Margin Percentage” represents subscription service gross margin percentage adjusted to exclude amortization from acquired and internally developed software, stock-based compensation, severance, and impairment of capitalized software development costs. • “Non-GAAP Consolidated Gross Margin Percentage” represents consolidated gross margin percentage adjusted to exclude amortization from acquired and internally developed software, stock-based compensation, severance, and impairment of capitalized software development costs. • “Adjusted EBITDA” represents net loss before income taxes, interest expense, and depreciation and amortization adjusted to exclude discontinued operations, stock-based compensation, transaction costs, severance, impairment loss, litigation expense, and other expense (income), net. • “ARR Per Unit” represents ARR divided by Active Sites as of the last day of each month for the respective reporting period.
13partech.com Thank You!