PAR Technology Corp
F:35U
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PAR Technology Corp
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PAR Technology Corp
PAR Technology makes software and equipment for restaurants and other foodservice businesses. Its core products help chains run point-of-sale checkout, manage menus and orders, connect kitchens and drive-throughs, and handle loyalty and customer engagement. It also sells the hardware that sits at the front counter and in the restaurant, so it is a mix of software, equipment, and service provider. Its main customers are restaurant chains, quick-service brands, and other large foodservice operators that need systems across many locations. PAR makes money by selling subscriptions for its software, charging for related services and support, and selling or leasing restaurant hardware. That gives it a recurring revenue stream tied to how many sites and users are on its systems. What makes PAR different is that it sits at a key point in the restaurant value chain: the systems employees use every day to take orders, process payments, and manage guest relationships. Instead of selling to consumers, it sells infrastructure that helps restaurants run the business itself. That makes its business closely tied to restaurant operators that want one set of tools across many locations.
PAR Technology makes software and equipment for restaurants and other foodservice businesses. Its core products help chains run point-of-sale checkout, manage menus and orders, connect kitchens and drive-throughs, and handle loyalty and customer engagement. It also sells the hardware that sits at the front counter and in the restaurant, so it is a mix of software, equipment, and service provider.
Its main customers are restaurant chains, quick-service brands, and other large foodservice operators that need systems across many locations. PAR makes money by selling subscriptions for its software, charging for related services and support, and selling or leasing restaurant hardware. That gives it a recurring revenue stream tied to how many sites and users are on its systems.
What makes PAR different is that it sits at a key point in the restaurant value chain: the systems employees use every day to take orders, process payments, and manage guest relationships. Instead of selling to consumers, it sells infrastructure that helps restaurants run the business itself. That makes its business closely tied to restaurant operators that want one set of tools across many locations.
Revenue: PAR reported Q1 revenue of $124 million, up 19% year over year, with growth led by subscription services and hardware.
Profitability: Adjusted EBITDA nearly doubled year over year to $8.9 million, and management said OpEx will decline sequentially each quarter in 2026.
Guidance: PAR introduced formal Q2 and full-year 2026 guidance, signaling more confidence in visibility and operating leverage.
AI strategy: Management framed PAR Intelligence as a monetizable, incremental revenue stream this year, not just an internal tool, and said adoption is already accelerating.
Customer wins: The company highlighted strong momentum in Burger King, Papa John's, pizza, and convenience store accounts, with nearly 90% of new operator deals in Q1 being multiproduct.
Hardware: Hardware demand was strong, but margins were pressured by tariffs and component costs; management expects margins to stabilize in the low 20s.
ARR cleanup: PAR finished a planned cleanup of low-priced legacy Engagement Cloud customers, which hurt near-term ARR but improved ARPU and should reduce future churn.
