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Dec 31, 2020
PAR Technology Q4 2020 Earnings Report
Announced fourth quarter and full year 2020 results, showing revenue increase and strategic investments.
Key Takeaways
PAR Technology Corporation reported a 10.6% increase in revenue for Q4 2020, reaching $58.5 million compared to $52.9 million in Q4 2019. However, the company experienced a GAAP net loss of $13.0 million, or $0.60 loss per share, and a non-GAAP net loss of $8.0 million, or $0.37 loss per share.
Total Company Revenues increased 10.6% vs. Q4 ‘19
New Brink Bookings in Q4 = 1,525 a 67% YoY increase from Q4 ‘19
Brink ARR at end of Q4 '20 totaled $24.7 million, a 29% increase from end of Q4 '19
New store activations in Q4 '20 totaled 885 sites
Forward Guidance
PAR Technology's CEO expressed optimism about the company's strategic position and market opportunities, citing a higher pipeline of newly signed customers. The company sustained revenue growth while investing in people, product development, and customer service.
Positive Outlook
- Strongest bookings quarter in Brink history, totaling 1,525.
- 885 new Brink sites were installed in Q4 '20, a 42% increase from Q4 '19.
- Pipeline of newly signed customers is higher than it has ever been.
- Sustained revenue growth throughout 2020.
- Accelerated investments in people, internal product development, customer service and sales.
Challenges Ahead
- GAAP net loss for the fourth quarter of 2020 was $13.0 million.
- Non-GAAP net loss for the fourth quarter of 2020 was $8.0 million.
- Managing the impact of the pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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