- PAR Technology ( NYSE: PAR ) shares fell 9% on Tuesday after the company's second quarter results.
- Revenue rose 23.4% to $85.1M, above the consensus by $5.52M.
- EBITDA Loss for the quarter was $9.9M, compared to a loss of $10.8M. Adjusted EBITDA Loss of $5.8M compared to $3.6M loss in year-ago quarter.
- Adjusted EPS stood at -$0.36; GAAP EPS was -$0.70 in-line with estimates.
- The company's software ARR reached $98.6M at the quarter-end, up 29% Y/Y.
- Brink POS segment highlight: ARR at quarter end was $36.2M; bookings totalled 939 sites; and active sites for Brink POS as of June 30, 2022 totaled 17,728 restaurants.
- Punchh highlights: Punchh ARR at end of Q2 '22 totalled $53.2M; new store activations totalled 3,522 sites; and active sites reached 62,300 restaurants.
- "ARR at end of Q2 2022 was $98.6 million and we saw growth across all business segments. Our success has been driven by adding new customer relationships, improving our operational efficiency and maintaining high customer and employee engagement. All aspects of our business are stronger than ever and, with a robust product roadmap, innovation and acquisition strategy, PAR is well positioned for continued success in the years ahead," said PAR Technology CEO Savneet Singh.
- Earlier in the day, PAR Technology announced the acquisition of Zug, Switzerland-based MENU Technologies, a fast growing, omnichannel ordering solution for international restaurant brands.
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PAR Technology slides in post-earnings move: Q2 Results