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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.

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PAR Technology Corporation (NYSE: PAR) announced a $21 million contract award from the U.S. Navy for its subsidiary Rome Research Corporation (RRC). This five-year deal focuses on operations and maintenance support at Camp Lemonnier, Djibouti, vital for Department of Defense communications across Africa. RRC has been supporting this facility since 2012 and has received 'Exceptional' Contractor Performance Ratings over the past decade. The contract signifies ongoing commitment to enhancing operational effectiveness for U.S. warfighters.

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PAR Technology Corporation (NYSE: PAR) announced that CEO Savneet Singh will present at the 25th Annual Needham Growth Conference on January 10, 2023, at 11:00 AM ET. The event will take place at the Lotte New York Palace Hotel, featuring a fireside chat format. Interested investors can access a live webcast and replay on PAR's investor relations website. Additionally, the management team will hold one-on-one meetings with attendees, emphasizing PAR's commitment to strengthening investor relationships and showcasing its innovative restaurant technology solutions.

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ParTech, Inc. (PAR) has been selected by Zaxby’s to enhance customer engagement through its Brink POS cloud solution and Punchh loyalty software. This partnership aims to streamline operations and improve customer experiences at Zaxby’s locations. The Brink POS system integrates various operational functions, while Punchh’s loyalty program allows customers to earn points on purchases for rewards. PAR has seen rapid growth, acquiring over 72 new clients in the past 21 months, including major brands like Applebee’s and TGI Friday’s. CEO Savneet Singh emphasizes the importance of their technology in enhancing guest satisfaction.

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PAR Technology reported Q3 2022 revenues of $92.8 million, a 19.1% increase year-over-year from $77.9 million in Q3 2021. Software Annual Recurring Revenues (ARR) grew to $106.6 million, up 29.2% from $82.5 million. The net loss narrowed to $21.3 million or $0.79 per share, improved from $31.9 million or $1.23 per share a year earlier. Adjusted net loss was $11.9 million. Year-to-date revenues reached $258.1 million, a 28.3% increase, while net loss for the period was $55.8 million.

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ParTech, Inc. (PAR) has introduced a new subscription feature for its loyalty software, Punchh, designed for enterprise restaurants and convenience stores. This innovation allows brands to manage subscription programs, capitalizing on the rapidly growing food and beverage subscription market, which is worth over $105 million annually. The feature enhances customer engagement through tailored offers and can lead to increased revenue and customer loyalty. Notably, major brands like Yum! Brands (YUM) and Casey’s (CASY) are already leveraging Punchh to boost their sales.

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PAR Technology Corporation (NYSE: PAR) will report its third quarter financial results on November 9, 2022, before market open, followed by a conference call at 9:00 a.m. ET.

The call features CEO Savneet Singh, CFO Bryan Menar, and VP Christopher Byrnes, who will offer a business update and address questions.

Interested parties can register for the call online and access a live webcast through PAR's Investor Relations website, where a recording will be available post-event.

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ParTech, Inc. (PAR) has enhanced its Punchh loyalty software with three new machine-learning features: Feedback Sentiment, Smart Segments, and Send Time Optimization. These improvements enable restaurant operators to better personalize loyalty programs by analyzing guest feedback, segmenting audiences based on loyalty behavior, and optimizing marketing communication timing. Over 200 global brands, including Yum! Brands (YUM) and Casey’s (CASY), utilize Punchh for boosting customer engagement and revenue. This innovation reinforces PAR's commitment to leading the restaurant technology industry.

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PAR Technology Corporation (NYSE: PAR) will present at the Goldman Sachs Communacopia + Technology Conference in San Francisco, CA. CEO Savneet Singh is scheduled for a fireside chat at 1:00 PM ET on September 15, 2022. A live webcast and replay will be accessible on PAR's website. The company, a leader in restaurant technology, supports over 100,000 restaurants worldwide with its software and hardware solutions.

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PARS Technology Corporation reported a 23.4% increase in total revenues for Q2 2022, totaling $85.1 million, up from $69.0 million in Q2 2021. Software Annual Recurring Revenues (ARR) reached $98.6 million, marking a 29% growth. However, the net loss widened to $18.8 million or $0.70 per share, compared to a $10.0 million loss in the previous year. Year-to-date revenues increased by 34.0% to $165.4 million. The company also acquired MENU Technologies post-Q2 2022, enhancing its omnichannel offerings.

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PAR Technology Corporation (PAR) announced its acquisition of MENU Technologies AG, enhancing its unified commerce solutions for enterprise restaurants. This acquisition integrates online ordering capabilities into PAR's existing suite, allowing restaurants to streamline their operations. MENU, a prominent omnichannel ordering solution, shares customers with PAR, further expanding PAR's platform. The collaboration aims to improve customer experiences by consolidating ordering processes and providing a data-driven network from order to fulfillment.

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FAQ

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

The current stock price of PAR Technology (PAR) is $76.12 as of December 20, 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.

PAR Technology Corp.

NYSE:PAR

PAR Rankings

PAR Stock Data

2.76B
35.65M
1.81%
114.02%
16.02%
Software - Application
Calculating & Accounting Machines (no Electronic Computers)
Link
United States of America
NEW HARTFORD