PAR Technology Corporation, founded in 1968 and headquartered in New Hartford, New York, specializes in delivering innovative technological solutions across two primary ...
PAR Technology Corporation, founded in 1968 and headquartered in New Hartford, New York, operates in two primary business segments. The Restaurant/Retail segment delivers a comprehensive suite of products and services for the hospitality industry. This includes Brink POS, a cloud-based point-of-sale platform designed for integration with external applications; Punchh, an ...PAR Technology Corporation, founded in 1968 and headquartered in New Hartford, New York, operates in two primary business segments. The Restaurant/Retail segment delivers a comprehensive suite of products and services for the hospitality industry. This includes Brink POS, a cloud-based point-of-sale platform designed for integration with external applications; Punchh, an enterprise loyalty and engagement platform; and Data Central, a cloud-based back-office management solution. The company also provides PAR Payment Services for transaction processing and wireless drive-thru headset systems. Furthermore, PAR supplies proprietary hardware such as the PAR Infinity, Phase, Helix, and EverServ 8000 series, alongside professional training, installation, and technical support services. The Government segment serves the U.S. Department of Defense and other federal agencies, offering intelligence, surveillance, and reconnaissance (ISR) capabilities, systems engineering, and specialized software solutions. It also manages satellite and teleport facility operations, including maintenance and engineering services. Financially, PAR has a market capitalization of approximately $734.6 million, with a price-to-sales ratio of 1.479. The company shows a negative net profit margin of -14.5% and a negative EBITDA margin of -5.5% on a trailing twelve-month basis, indicating current operational losses. Their gross profit margin stands at 38.8%, reflecting strong gross profitability. The company employs approximately 1,800 full-time staff globally. Under the leadership of CEO Savneet Singh, PAR continues to focus on driving digital transformation for multi-unit restaurant and retail brands, aiming to unify operations, transactions, and customer engagement. With a history spanning over five decades, the company was originally founded by John W. Sammon Jr. and has evolved from its initial government-focused work into a dual-segment technology provider, leveraging its expertise to serve both commercial and defense sectors. Future growth is likely focused on expanding its cloud-based software offerings and strengthening its position in the hospitality market, while maintaining its government contracts.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$455.5M
+30.2%
+7.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-84.5M
-1593.6%
-4.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+43.5%
+4.1%
+3.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-15.1%
+33.2%
-16.8%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-18.5%
-1201.2%
+2.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-30.5M
+4.8%
+119.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-6.7%
+26.9%
+117.8%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
48.8%
+12.8%
+1.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.66x
-15.1%
+1.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and thank you for standing by. Welcome to the PAR Technology Fiscal Year 2026 Second Quarter Financial Results Conference Call. [Operator Instructions] Please be advised that this call is being recorded. I would now like to hand the conference call over to your first speaker today. Please go ahead.
Chris Byrnes: Thank you, Felicia, and good afternoon, everyone, and thank you for joining us today for PAR Technology's 2026 Second Quarter Financial Results Call. Earlier today, we released our financial results. The earnings release is available on the Investor Relations page of our website at partech.com, where you can also find the Q2 financial presentation as well as in our related Form 8-K furnished to the SEC. Before we begin, please be advised that our remarks today will contain forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For additional information on these factors, please refer to our earnings release and other reports filed with the SEC. Also today, we'll be discussing or providing certain non-GAAP financial measures, which we believe will provide additional clarity regarding our ongoing performance. For a full reconciliation of the non-GAAP financial measures discussed in this call to the most comparable GAAP measure in accordance with SEC regulations, please see our press release furnished as an exhibit to our Form 8-K filed this afternoon and our supplemental materials available on our website. Joining me on the call today is PAR's CEO, Savneet Singh; and Bryan Menar, PAR's Chief Financial Officer. I'd now like to turn the call over to Savneet for the formal remarks portion of the call, which will be followed by general Q&A. Savneet?
Savneet Singh: Thanks, Chris, and thank you all for joining us today. On our first quarter call, we established clear financial and AI-adoption targets and laid out what success looks like for PAR in 2026. Since then, we've been heads down executing against our 3-pronged growth strategy, namely to: one, extend our competitive platform advantages in core markets; two, reinvest in product efficacy via powerful AI functionality; and three, aggressively expand our total addressable market in areas where we can continue to leverage our inherent platform advantage. As Ben Graham famously said, in the short run, the market is a voting machine, but in the long run, it's a weighing machine. We plan to continue to stack weights on the scale. At PAR, we're always on offense. This is evidenced by our strong Q2 results and highlights, which I'll start with today before handing the call to Bryan to discuss our financial results in more detail and provide our outlook for the remainder of the year. Q2 was a starting [ shot ] in the show-me market. We delivered results ahead of expectations, expanded our platform …