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Mar 31, 2021
PAR Technology Q1 2021 Earnings Report
PAR Technology reported a slight revenue decrease but showed strength in Brink POS bookings and backlog.
Key Takeaways
PAR Technology Corporation announced its first quarter 2021 results with revenues of $54.5 million, a slight decrease from $54.7 million in the same period of 2020. The company reported a net loss of $8.3 million, or $0.38 loss per share. However, Brink POS bookings saw an 85% increase, and the backlog reached over 3,300 stores.
Revenues were $54.5 million, slightly down from $54.7 million year-over-year.
Net loss was $8.3 million, or $0.38 loss per share, improved from a $10.9 million loss, or $0.61 loss per share, in Q1 2020.
Brink POS bookings increased by 85% year-over-year, totaling 1,345 stores.
Backlog at the end of Q1 exceeded 3,300 stores.
Forward Guidance
The company anticipates a strong activation pace in Q2 and expects it to continue throughout the year, which will bring their backlog down. The Punchh acquisition is expected to enhance their software platform.
Positive Outlook
- Significant demand for cloud Brink POS® software.
- Strong activation pace expected to continue throughout the year.
- Punchh acquisition enhances software platform.
- Integrated platform to fast-track new customer wins.
- Customers supportive of the PAR/Punchh platform.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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