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Jun 30, 2021
PAR Technology Q2 2021 Earnings Report
PAR Technology reported an increase in total revenues and a net loss for Q2 2021.
Key Takeaways
PAR Technology Corporation announced its Q2 2021 results, with revenues increasing by 50.9% to $69.0 million compared to the same period in 2020. The company reported a net loss of $10.0 million, or $0.39 loss per share. Software Annual Recurring Revenues (ARR) grew to $76.7 million, a 166% increase from Q2 2020, aided by the Punchh acquisition.
Total revenues increased 50.9% from Q2 2020.
Software Annual Recurring Revenues (ARR) grew 166% to $76.7 million.
Net loss for the second quarter of 2021 was $10.0 million, or $0.39 loss per share.
Brink bookings and activations improved from the second quarter a year ago.
Forward Guidance
PAR Technology is focused on scaling its software business and enhancing its annual recurring revenue. The company's acquisition pipeline remains active and strong as it looks to continue to build out its unified commerce cloud platform.
Positive Outlook
- Unified commerce cloud platform continues to drive improved performance.
- Cloud solutions are garnering interest from both new and current customers.
- Reported increased bookings and activations from the same period one year ago.
- Q3 activations for Brink have gotten off to a strong start.
- Acquisition pipeline remains active and strong.
Challenges Ahead
- Challenges with the global supply chains.
- Net loss for the second quarter of 2021 was $10.0 million.
- EBITDA for the second quarter of 2021 was a loss of $11.3 million.
- Adjusted EBITDA for the second quarter of 2021 was a loss of $4.1 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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