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PAR Technology Corp. - PAR STOCK NEWS

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) has been a significant player in the technology sector for over 30 years, primarily serving the hospitality and government markets. The company operates through two main segments: Restaurant/Retail and Government. The Restaurant/Retail segment offers advanced point-of-sale and management technology solutions, including both hardware and software, designed to streamline operations for a wide array of food service providers, from large international chains to independent restaurants. PAR's solutions also extend to retailers, cinemas, cruise lines, stadiums, and various food service companies.

The Government segment, on the other hand, specializes in providing computer-based system design, engineering, and technical services to the Department of Defense and various federal agencies. This segment recently attracted significant attention with the planned sale of its Government business unit, which includes subsidiaries PAR Government Systems Corporation (PGSC) and Rome Research Corporation (RRC), for $102 million to NexTech Solutions (NTS). This strategic move marks a substantial reorientation for PAR as it focuses more on its core hospitality technology offerings.

Financially, PAR Technology Corporation derives the majority of its revenue from its Restaurant/Retail segment, indicating a strong market presence and demand for its technology solutions. The company continually evolves its product offerings to meet the changing needs of its diverse client base, ensuring it remains at the forefront of the industry.

Visit www.partech.com for more information.

News

PAR Technology Partners With DoorDash To Create Seamless Ordering Environment

Rhea-AI Summary
ParTech, Inc. (PAR) partners with DoorDash to enhance digital ordering and delivery operations in the United States, expanding PAR's ecosystem to over 500 integrations. The collaboration integrates DoorDash with PAR Brink POS® and MENU Link, providing centralized control and seamless operations for enterprise restaurants.
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PAR Technology Corporation Appoints Linda Crawford to its Board of Directors

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PAR Technology Corporation (NYSE: PAR) announced the appointment of Linda Crawford to its Board of Directors, effective December 5, 2023. Linda brings extensive knowledge of enterprise software and proven leadership experience, having served as the CEO of Helpshift, Inc. and the Chief Customer Officer of Optimizely, Inc. She also held executive positions at Salesforce and Siebel Systems, and currently serves on the board of directors of Verint Systems Inc. and previously served as a director of ChannelAdvisor and Demandware.
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management
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PAR Technology Recognized for Innovation in Restaurant Technology by Three Leading Awards for Loyalty and Payment Capabilities

Rhea-AI Summary
ParTech, Inc. (PAR) has received multiple awards for its Punchh® and PAR Pay solutions, including MarTech Breakthrough's Loyalty Marketing Innovation Award and The SaaS Award's 'Best SaaS Product for Loyalty and Retention'. The company's CEO, Savneet Singh, emphasized the power of deep integrations between their products, enabling exceptional experiences like Apple Wallet Loyalty. Additionally, PAR Pay was recognized in the Payments Solution category at the International Business Awards, showcasing the company's success in loyalty and payments innovation.
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PAR Technology Corporation to Participate at Stephens Annual Investment Conference

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PAR Technology Corporation (NYSE: PAR) to Present at Stephens Annual Investment Conference, CEO Savneet Singh to Participate in Fireside Chat
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PAR Technology Corporation Announces Third Quarter 2023 Results

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PAR Technology Corporation (NYSE: PAR) reported a 15.5% increase in total quarterly revenues and a 24.6% increase in subscription service revenues year-over-year from Q3 '22. The Annual Recurring Revenue (ARR) grew to $128.3 million, marking a 20.4% year-over-year increase from Q3 '22. The company also announced a net loss of $15.5 million for the quarter, a significant improvement from the net loss of $21.3 million reported for the same period in 2022. The EBITDA for the quarter was a loss of $6.9 million, while the Adjusted EBITDA was a loss of $2.6 million, both showing improvement from the same period in 2022. Revenues for the nine months ended September 30, 2023, were reported at $308.1 million, a 19.4% increase compared to the same period in 2022. The net loss for the nine months was $51.1 million, an improvement from the net loss of $55.8 million for the same period in 2022. The company's key performance indicators showed positive growth across all three subscription service product lines: Guest Engagement, Operator Solutions, and Back Office. The CEO highlighted the growth in subscription services revenue, ARR, and the exclusive selection of Brink POS and MENU Link by Burger King for their North American traditional restaurants.
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PAR Technology Corporation Releases Conference Call Webcast Information for Fiscal 2023 Third Quarter Financial Results

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PAR Technology Corporation (NYSE: PAR) will report its financial results for Q3 2023 on November 9, 2023. The conference call to discuss the results will be held at 4:30 p.m. ET and will be webcast live. The webcast will be available on the PAR Technology Investor Relations website after the event.
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PAR Technology Corporation Has Entered into An Exclusive Unified Point-of-Sale Agreement

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ParTech selected as exclusive POS software and services provider for Burger King restaurants in North America
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PAR Technology Corporation to Participate at Goldman Sachs Communacopia + Technology Conference

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PAR Technology CEO to present at Goldman Sachs Communacopia + Technology Conference
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PAR Government, in partnership with ICEYE, Awarded a Prime Spot on a $900M United States Space Force Contract

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PAR Technology Corporation signs prime contract award for PLEO Satellite-Based Services initiative led by U.S. Space Force. Contract has a $900M ceiling over five years.
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PAR Technology Corporation Announces Second Quarter 2023 Results

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FAQ

What is the current stock price of PAR Technology (PAR)?

The current stock price of PAR Technology (PAR) is $77.18 as of November 21, 2024.

What is the market cap of PAR Technology (PAR)?

The market cap of PAR Technology (PAR) is approximately 2.8B.

What does PAR Technology Corporation do?

PAR Technology Corporation provides technology solutions for the hospitality and government sectors, including software, hardware, and technical services.

What is the stock symbol for PAR Technology Corporation?

The stock symbol for PAR Technology Corporation is PAR, listed on the New York Stock Exchange.

Which segments does PAR Technology Corporation operate in?

PAR operates in two segments: Restaurant/Retail and Government. The Restaurant/Retail segment provides management technology solutions, while the Government segment offers technical services to federal agencies.

What recent news involves PAR Technology Corporation?

PAR Technology Corporation recently announced the sale of its Government business unit, which includes PAR Government Systems Corporation and Rome Research Corporation, for $102 million to NexTech Solutions.

What kind of technology solutions does PAR offer to the hospitality industry?

PAR provides advanced point-of-sale and management technology solutions, including both hardware and software, to streamline operations for various food service providers.

Where can PAR Technology Corporation’s products be found?

PAR’s products can be found in a variety of settings, including restaurants, retailers, cinemas, cruise lines, stadiums, and food service companies.

What does the recent sale of the Government segment signify for PAR Technology Corporation?

The sale signifies PAR's strategic focus on enhancing its core hospitality technology offerings by divesting its Government business unit.

Who acquired PAR's Government business unit?

NexTech Solutions (NTS) acquired PAR's Government business unit, which includes PAR Government Systems Corporation and Rome Research Corporation.

Where is PAR Technology Corporation headquartered?

The headquarters of PAR Technology Corporation is located in New Hartford, New York.

How can I get more information about PAR Technology Corporation?

You can visit their official website at www.partech.com for more information.

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PAR Technology Corp.

NYSE:PAR

PAR Rankings

#1739 Ranked by Market Cap
N/A Ranked by Dividends

PAR Stock Data

2.79B
35.65M
1.81%
112.93%
16.68%
Software - Application
Calculating & Accounting Machines (no Electronic Computers)
Link
United States of America
NEW HARTFORD