PAR - PAR Technology Q2 misses estimates despite software ARR surge

PAR Technology (PAR +3.8%) Q2 total revenue rises 50.9% to $69M. Software annual recurring revenues grows to $76.7M - a 166% from last year ]- aided by the Punchh acquisition. EBITDA loss of $11.3M; Adjusted EBITDA loss of $4.1M. Net loss for the second quarter of 2021 was $10.0M, or EPS of $0.39, misses consensus by $0.05. Adjusted net loss was $9.2M, or $0.36 Non-GAAP, misses consensus by $0.09. CEO, Savneet Singh commented, “Our unified commerce cloud platform continues to drive our improved performance and our cloud solutions are garnering interest from both new and current customers as they focus on using technology to improve the customer experience in quick serve and fast casual restaurants. In spite of challenges with the global supply chains, we reported increased bookings and activations from the same period one year ago. Punchh, our newly acquired loyalty and customer engagement solution will be a significant growth driver of our combined

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PAR Technology Q2 misses estimates despite software ARR surge