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PAR — PAR Technology News Story

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Foodservice firm PAR Technology's Q2 revenue up 43.8%, beats estimates

Overview

PAR Technology Q2 revenue rises 43.8%, beating analyst expectations

Quarterly subscription service revenues up 60% yr/yr, with 21% organic growth

Adjusted EBITDA improves significantly, reflecting operational progress

Outlook

Company highlights strong pipeline for future growth and profitability

Result Drivers

ARR GROWTH - Annual Recurring Revenue grew 49% to $286.7 mln, driven by organic growth of 16%

SUBSCRIPTION REVENUE - Quarterly subscription service revenues increased 60% yr/yr, with 21% organic growth

MULTI-PRODUCT SIGNINGS - Record number of multi-product logos signed, contributing to strong Q2 performance

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 RevenueBeat$112.40 mln$111.30 mln (8 Analysts)
Q2 Adjusted EPS$0.03
Q2 Basic EPS-$0.52
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell" The average consensus recommendation for the office equipment peer group is "buy" Wall Street's median 12-month price target for PAR Technology Corp is $90.00, about 35.5% above its August 7 closing price of $58.03 The stock recently traded at 127 times the next 12-month earnings vs. a P/E of 156 three months ago Press Release: ID:nBw7XdK6ca (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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