Welcome to our dedicated page for Par Technology news (Ticker: PAR), a resource for investors and traders seeking the latest updates and insights on Par Technology stock.
PAR Technology Corporation (NYSE: PAR) is a foodservice technology provider whose news flow centers on platform innovation, customer deployments, and financial performance. The PAR news page on Stock Titan aggregates company press releases, market updates, and third-party coverage so investors and industry followers can see how the business and its technology strategy evolve over time.
Recent announcements highlight enterprise wins and partnerships, such as Papa Johns selecting PAR POS and PAR OPS to anchor its next-generation U.S. in-restaurant technology stack, and Abelardo’s Mexican Fresh choosing PAR’s full suite of solutions to modernize its operations. Other brands, including Erbert & Gerbert’s Sandwich Shop, have also adopted PAR’s unified platform for POS, payments, loyalty, and back-of-house tools.
PAR’s news also covers product launches and enhancements. Examples include Smart Passes, a wallet-native loyalty solution integrated into the Punchh platform, and PAR Catering, which is designed to help restaurants run catering as part of their core operations. The company has also discussed PAR AI, an intelligence layer embedded into its product suite to provide real-time insights across the restaurant tech stack.
In addition, PAR regularly issues earnings and investor communications, such as quarterly results, ARR and Active Sites metrics, and participation in investor conferences hosted by firms like Needham, UBS, and Stephens. Visitors to the news page can review these updates to understand how PAR’s subscription business, hardware sales, and professional services are progressing.
For investors, analysts, and restaurant operators, following PAR’s news provides insight into its customer adoption, technology roadmap, and capital markets activity. Bookmark this page to quickly access the latest press releases, financial disclosures, and corporate announcements related to PAR Technology Corporation.
PAR Technology Corporation (NYSE: PAR) has appointed Marcus Wasdin as General Manager of its Data Central® solution. This move highlights PAR's commitment to enhancing its unified commerce platform for restaurants. Wasdin brings a wealth of experience from previous roles as CIO for the Atlanta Hawks and Church’s Chicken. His expertise will be crucial as PAR positions itself for expansion and seeks to meet the growing demand for innovative restaurant technology.
PAR Technology reported a 42.0% increase in Q3 2021 revenues, totaling $77.9 million, driven by the Punchh acquisition, which contributed $9.7 million. Annual Recurring Revenue (ARR) surged to $82.5 million, a 164% increase from Q3 2020. However, the company faced a net loss of $31.9 million or $1.23 per share, worsening from $3.7 million loss in Q3 2020. EBITDA loss for the quarter was $20.4 million, compared to a profit of $0.9 million last year. The company secured a $490.4 million IDIQ contract with the U.S. Air Force, marking a significant business milestone.
PAR Technology Corporation (NYSE: PAR) has secured a significant contract with the U.S. Air Force Research Laboratory, valued at $490.4 million. This contract, the largest in PAR's history, will focus on providing Counter-small Unmanned Aircraft System (C-sUAS) solutions over a 6-year period, with potential extensions. The initial funding of $5.7 million is allocated from Fiscal 2021 research and development funds. Work will predominantly take place in Rome, New York.
PAR Technology Corporation (NYSE: PAR) will announce its third quarter financial results on November 9, 2021, at 4:00 p.m. ET. The results will be followed by an investor presentation and a conference call led by executives, including Savneet Singh and Bryan Menar. Interested parties can join the call by dialling 844-419-5412 or by accessing the event online. A recorded version will be available until November 16, 2021.
PAR Technology Corp. (PAR) has launched its new flagship POS hardware, PAR Phase™, featuring 11th Gen Intel® Core™ vPro® and Intel® Celeron® processors. This next-generation terminal aims to enhance restaurant technology, ensuring longevity and adaptability for future innovations. With a focus on maximizing ROI, it offers flexible engagement options, tool-less features, and aesthetic designs to suit various restaurant brands. Executive comments emphasize the importance of such advancements in keeping up with the evolving hospitality landscape.
TCGplayer has appointed Savneet Singh to its Board of Directors, effective immediately. Singh, currently the President and CEO of PAR Technology Corp. (NYSE: PAR), brings over 15 years of experience in technology and SaaS. His leadership at PAR has transformed the company into a fast-growing SaaS business. This appointment comes during a significant growth phase for TCGplayer, which recently added several executive positions and secured $35 million in financing to expand into new collectible markets. Singh's background aligns with TCGplayer's objectives, promoting innovation in the collectibles industry.
PAR Technology Corporation (NYSE: PAR) announced the appointment of Dr. Leah Rowe as Director of Training and Readiness at its subsidiary, PAR Government Systems Corporation. Dr. Rowe will facilitate the transfer of advanced training technology from the Air Force Research Laboratory to PGSC, aiming to enhance business within DoD and other federal sectors. Her extensive experience in developing training technology, including the Networked Integrated Tactical Environment (NITE), supports PGSC's strategic growth in advanced training solutions.
PAR Technology Corporation (NYSE: PAR) has appointed Raju Malhotra as Chief Product & Technology Officer. Previously the CPTO at Punchh Inc., which was acquired by PAR in April 2021, he brings over 20 years of experience from companies like Salesforce and Microsoft. The newly created role aims to enhance PAR's unified commerce cloud platform amidst growth in the hospitality industry. CEO Savneet Singh praised Malhotra's accomplishments and leadership skills, fueling expectations for innovation in restaurant technology.
PAR Technology Corporation has strengthened its partnership with Salsarita’s Fresh Mexican Grill by adding Data Central to their technology stack. This addition enhances Salsarita’s operational efficiency, enabling improved cost control and faster reporting capabilities. Since the implementation, Salsarita’s has reported significant time savings, with data reporting reduced from days to under an hour. This partnership, which began in 2017 with the selection of PAR’s Brink POS, is now further solidified with the comprehensive back-office management tools.
PAR Technology Corporation (NYSE: PAR) has priced its concurrent public offerings of 892,857 shares of common stock and $235 million of 1.5% Convertible Senior Notes due 2027. The offerings are expected to raise approximately $275.4 million, which will primarily be used to repay a $180 million term loan. The company also plans to use remaining proceeds for corporate purposes and potential investments. The offerings are anticipated to close on September 17, 2021, with certain underwriters granted options for additional purchases.