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PAR Technology Corporation is a technology company that operates in the restaurant/retail and government sectors. It provides cloud-based software, hardware, and professional services to enhance operational efficiency and customer engagement for restaurants and retail businesses. Additionally, it delivers advanced systems and technical expertise to the U.S. Department of Defense and other federal agencies.
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Restaurant/Retail Solutions - Offers cloud-based software and hardware solutions, including point-of-sale systems, kitchen display systems, and operational intelligence technologies, to streamline restaurant and retail operations.
- Hardware - Provides point-of-sale systems, kitchen display systems, and related hardware.
- Subscription Services - Includes customer engagement tools like Punchh for loyalty, MENU for digital ordering, Brink POS, PAR Pay, and back-office solutions like Data Central.
- Professional Services - Covers implementation, training, and support services for restaurant and retail clients.
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Government Solutions - Develops and delivers advanced systems and software for the U.S. Department of Defense and other federal agencies.
- Intelligence, Surveillance, and Reconnaissance (ISR) Solutions - Provides counter small unmanned aircraft systems and related services.
- Mission Systems - Supports operations and maintenance of satellite command and control systems.
- Commercial Software - Offers geospatial intelligence data analytics and operational tools.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bryan A. Menar Executive | Chief Financial Officer | None | Bryan A. Menar has been the CFO of PAR since January 2017. He has ensured compliance with financial regulations and accurate presentation of the company's financial condition. | |
Cathy A. King Executive | Chief Legal Officer and Corporate Secretary | None | Cathy A. King joined PAR in July 2016 as Vice President and General Counsel and became Chief Legal Officer in February 2023. | |
Michael A. Steenberge Executive | Chief Accounting Officer | None | Michael A. Steenberge was promoted to Chief Accounting Officer on March 1, 2023, reporting to the CFO, Bryan A. Menar. | |
Savneet Singh Executive | CEO and President | None | Savneet Singh has been the CEO and President of PAR Technology Corporation since March 2019. He has led the company's transformation into a unified commerce platform for enterprise restaurants. | View Report → |
Cynthia A. Russo Board | Director | Board Member at Verra Mobility Corporation, Verifone, Inc.; CFO Operating Partner at Canvas Solutions, Inc. and SimPRO Holdings, Inc. | Cynthia A. Russo has been a director since 2015, with extensive experience in financial and operations management. | |
Douglas G. Rauch Board | Director | Board Member at Sprouts Farmers Market, Inc.; Founder/President of Daily Table | Douglas G. Rauch has been a director since 2017, bringing knowledge and operational experience in the food service/grocery industry. | |
James C. Stoffel Board | Chairman of the Board | Board Member at Aviat Networks, Inc. | James C. Stoffel has been a director since 2017 and Chairman of the Board since June 1, 2023. He brings over 25 years of technology expertise to PAR's Board. | |
Keith E. Pascal Board | Director | Vice President and Secretary of Act III Holdings, LLC; Founder and President of 12:51:58 MW LLC | Keith E. Pascal has been a director since 2021, with roles in investment and enterprise software platforms. | |
Linda M. Crawford Board | Director | Board Member at Verint Systems Inc., Equilar; Advisor to Venture-Backed Companies | Linda M. Crawford joined the Board in December 2023, with extensive experience in executive roles at leading software companies. |
- With the Burger King rollout appearing to progress more slowly than anticipated, can you explain the reasons behind this and how it affects your growth projections, especially considering that significant Burger King contributions are expected in 2025?
- At the beginning of 2024, you indicated record RFP activity with seven large deals; can you provide a detailed update on how many of these deals have been won, the status of the remaining ones, and the potential impact on accelerating your organic ARR growth beyond the mid-20% range?
- Despite achieving positive adjusted EBITDA, when do you anticipate reaching sustainable positive free cash flow, and what specific steps are you taking to manage interest expenses and capital expenditures to achieve this goal?
- As you integrate recent acquisitions that are growing slower than the organic business, how do you plan to maintain organic ARR growth in the low 20% range, and what strategies are in place to offset the potential dilution of growth rates from these acquisitions?
- In light of macroeconomic uncertainties, are you seeing any pullback or delays in your top-of-funnel pipeline, such as RFPs being withdrawn or deals stalling, and how are you adjusting your growth strategy to mitigate these risks?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
McDonald's Corporation | Approved provider since 1980 | All | 15% of total revenues in 2024 |
Yum! Brands, Inc. | Approved provider since 1983 | All | 9% of total revenues in 2024 , 13% in 2023 , 14% in 2022 |
Dairy Queen | Approved provider since 2018 | All | 8% of total revenues in 2024 , 11% in 2023 , 9% in 2022 |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
TASK Group Holdings Limited | 2024 | Acquired by PAR Technology Corporation for a total of approximately $245.5 million—including $131.5 million in cash and the issuance of 2,163,393 shares of PAR common stock—completed via a court-approved scheme of arrangement that allowed TASK shareholders to elect between cash and share consideration; the acquisition aimed to expand PAR's international foodservice vertical with TASK’s unified commerce solutions and delivered an ARR of over $40 million. |
Stuzo Holdings, LLC | 2024 | Acquired by PAR Technology Corporation for approximately $170.5 million in cash plus $19.2 million in shares (with an issuance of 441,598 shares determined at a fair value of $43.41 per share); the deal, which included an escrow arrangement and additional acquisition expenses of about $2.9 million, was strategically executed to expand PAR’s footprint in the convenience and fuel retailers market with Stuzo’s leading guest engagement platform. |
MENU Technologies AG | 2022 | Acquired by ParTech, Inc. for an aggregate of approximately $24.7 million, combining $18.4 million in cash and $6.3 million in common stock, with an additional earn-out potential and escrow arrangements; the transaction, structured as a business combination, brought valuable developed technology and goodwill (valued at $10.7 million and $28.5 million, respectively) to bolster ParTech’s unified commerce offerings in the restaurant technology market. |
Privately held restaurant technology company | 2022 | Acquisition accounted for as a business combination during Q1 2022, resulting in an increase of $1.2 million in goodwill with preliminary fair value determinations that were not material to the overall financial condition, as per ASC Topic 805 and based on management’s estimates subject to adjustments. |
Recent press releases and 8-K filings for PAR.
- ARR growth: Total ARR increased to $282.1 million, a 52% year-over-year increase (including 18% organic growth and contributions from inorganic strategies)
- Announcement details: Q1 2025 results were announced on May 9, 2025 in New Hartford, NY by PAR Technology (contact: Christopher R. Byrnes, 315-7438376)
- Subscription revenue surge: Subscription service revenues surged by 78% year-over-year, driven by 20% organic growth
- Margin improvements: Non-GAAP Subscription Service Gross Margin improved to 69.1% from 65.7% compared to Q1 2024
- Profitability turnaround: Adjusted EBITDA reached $4.5 million in Q1 2025, a strong recovery from a negative figure in Q1 2024