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Sep 30, 2022
PAR Technology Q3 2022 Earnings Report
PAR Technology reported a net loss of $21.3 million and a revenue increase of 19.1% year-over-year for Q3 2022.
Key Takeaways
PAR Technology Corporation announced its Q3 2022 financial results, with revenues increasing by 19.1% to $92.8 million compared to the same period in 2021. The company reported a net loss of $21.3 million, an improvement from the $31.9 million net loss in Q3 2021. Software Annual Recurring Revenues (ARR) grew to $106.6 million, a 29.2% increase year-over-year.
Total revenues increased 19.1% year-over-year from Q3 2021.
Software Annual Recurring Revenues (ARR) grew 29.2% to $106.6 million from $82.5 million in Q3 2021.
Net loss for Q3 2022 was $21.3 million, an improvement from the $31.9 million net loss in Q3 2021.
Adjusted EBITDA for Q3 2022 was a loss of $8.0 million, compared to a loss of $4.0 million for the same period in 2021.
Revenue by Segment
Forward Guidance
PAR Technology CEO, Savneet Singh, commented that the continued growth in subscription services software revenues positions the Company well to deliver strong financial performance for the next few years and expects to exit FY 2023 cash flow positive.
Positive Outlook
- Continued growth in subscription services software revenues.
- Opportunity for long term customer relationships.
- Introduction of new products to increase customer value.
- Leveraging prior investments to grow revenue.
- Expected to exit FY 2023 cash flow positive.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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