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Sep 30, 2020
PAR Technology Q3 2020 Earnings Report
PAR Technology reported an increase in total company revenues and a reduced GAAP net loss compared to the same period last year.
Key Takeaways
PAR Technology Corporation announced its Q3 2020 results with a 20.7% increase in revenues compared to the prior year. The company reported a GAAP net loss of $3.7 million, an improvement from the $5.9 million loss in Q3 2019. The increase in revenue was partially offset by the divestiture of SureCheck.
Total Company Revenues increased 20.7% vs. prior year
New Brink Bookings in Q3 = 1,181 a 45% sequential increase from Q2
GAAP net loss decreased to $3.7 million from $5.9 million for the same period in 2019
Brink ARR at end of Q3 '20 totaled $22.9 million, an increase of $5.0 million, 29% from end of Q3 '19
Forward Guidance
PAR remains well positioned to achieve our strategic goals, even during the most challenging environment for restaurants in history.
Positive Outlook
- Expect activations and bookings to continue to grow as the world stabilizes.
- Company provides business critical technology to the most resilient sector of the restaurant industry.
- Customers rely on PAR to consistently provide the products and services they require to serve their customers and improve their operations.
- Recent capital raise in September gives strength and flexibility to increase market share by both organic and inorganic means.
- Pandemic continues to highlight the strength of cloud solutions and further validates the subscription economy within enterprise restaurants.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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