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Mar 31, 2020
PAR Technology Q1 2020 Earnings Report
PAR Technology reported an increase in revenue but also an increase in GAAP and non-GAAP net losses compared to the same period in 2019.
Key Takeaways
PAR Technology Corporation announced its financial results for the first quarter ended March 31, 2020, revealing a revenue increase of 22.4% to $54.7 million compared to $44.7 million in the same period of 2019. However, the company faced a GAAP net loss of $10.9 million, or $0.61 loss per share, and a non-GAAP net loss of $5.1 million, or $0.28 loss per share, both increases from the previous year.
Revenues increased by 22.4% to $54.7 million compared to Q1 2019.
GAAP net loss increased to $10.9 million, or $0.61 loss per share.
Non-GAAP net loss increased to $5.1 million, or $0.28 loss per share.
Brink ARR at end of Q1 '20 totaled $22.2 million, an increase of 42% from end of Q1 '19.
Forward Guidance
While it is still unknown how this will ultimately play out for the restaurant industry as a whole, we have seen steady progress in restaurant sales from a potential bottom over the last couple weeks. In late April our customers' businesses began to stabilize after steeply declining earlier in the month. In addition, PAR’s Government business delivered a strong first quarter and is expected to provide stable revenues and cash flows during this volatile business environment.
Positive Outlook
- Steady progress in restaurant sales from a potential bottom over the last couple weeks.
- In late April our customers' businesses began to stabilize after steeply declining earlier in the month.
- PAR’s Government business delivered a strong first quarter.
- PAR’s Government business is expected to provide stable revenues.
- PAR’s Government business is expected to provide stable cash flows during this volatile business environment.
Challenges Ahead
- Q1 of 2020 will go down as one of the most transformational in restaurant history.
- Due to the immediate impact of COVID-19 restrictions, restaurants went from business as usual, to the largest negative demand shock in the industry’s history.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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