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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.
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.
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.
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.
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.
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.
PAR Technology Corporation (NYSE: PAR) will report its second quarter financial results on August 9, 2022, before market open. Following the results, a conference call is scheduled for 9:00 a.m. ET where company executives, including President Savneet Singh and CFO Bryan Menar, will provide a business update and address questions. Interested participants must register in advance to join the call and access the live webcast. PAR Technology serves over 100,000 restaurants globally with comprehensive technology solutions.
PAR Technology (PAR) has introduced PAT Infinity, a subscription-based Hardware as a Service (HaaS) solution designed for restaurants. This offering combines industry-leading technology and full lifecycle support including installation, maintenance, and upgrades. With no upfront payments, PAR alleviates the burden of hardware management on restaurants, ensuring they can focus on guest experiences. Supported by the new PAR Helix™ terminal, this service aims to combat technology obsolescence, addressing operational challenges identified by industry analysts.
Goji Systems has enhanced its partnership with ParTech, Inc. (PAR) by integrating its self-ordering kiosks with Punchh's loyalty, offers, and engagement solutions. This collaboration aims to provide an improved ordering experience, allowing restaurant brands to effortlessly incorporate customer loyalty programs within their kiosks. Since their initial collaboration in 2019, the integration aims to cater to the growing demand for seamless customer experiences and operational efficiency in restaurants. Goji's mission is to deliver cutting-edge technology backed by superior service, ultimately enhancing customer satisfaction.
PAR Technology Corporation (PAR) has partnered with Big Chicken, founded by Shaquille O'Neal, to implement its Brink POS, Data Central, and PAR Pay solutions. This partnership aims to streamline technological efforts as Big Chicken expands beyond its two current locations, with over 150 more in development.
PAR's solutions are expected to enhance operational efficiency and guest satisfaction, aiding Big Chicken in managing its rapid growth while maintaining a focus on service quality.
PAR Technology Corporation (NYSE: PAR) announced a new partnership with OneDine® to enhance its restaurant technology offerings. This collaboration integrates OneDine's low-contact, labor-optimized solutions into the PAR commerce cloud platform. OneDine's technology improves the ordering and payment experience by allowing mobile browsing, online ordering, and various contactless payment methods. This integration supports seamless communication between staff and customers, optimizing operations and improving customer experience across enterprise restaurants.
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