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Par Technology (PAR)

PAR Technology Corporation through its wholly owned subsidiary ParTech, Inc., is a customer success-driven, global restaurant and retail technology company with over 100,000 restaurants in more than 110 countries using its point of sale hardware and software. ParTech's Brink POS® integration ecosystem enables quick service, fast casual and table service restaurants to improve their operational efficiency by combining its cloud-based POS software with the world's leading restaurant technology platforms. PAR Technology's Government segment is a leader in providing computer-based system design, engineering and technical services to the Department of Defense and various other federal agencies.

Company profile

Ticker
PAR
Exchange
Website
CEO
Savneet Singh
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
ParTech, Inc. • PAR Government Systems Corporation • AccSys, LLC • Punchh Inc. ...
IRS number
161434688

PAR stock data

Analyst ratings and price targets

Last 3 months

Calendar

10 May 22
12 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 163.21M 163.21M 163.21M 163.21M 163.21M 163.21M
Cash burn (monthly) 8.4M 826.25K 5.21M 7.72M 7.07M 5.91M
Cash used (since last report) 37.15M 3.65M 23.05M 34.12M 31.23M 26.12M
Cash remaining 126.06M 159.55M 140.16M 129.08M 131.97M 137.08M
Runway (months of cash) 15.0 193.1 26.9 16.7 18.7 23.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Jun 22 Savneet Singh Common Stock Payment of exercise Dispose F No No 37.49 7,060 264.68K 192,267
3 Jun 22 Narinder Singh Common Stock Grant Acquire A No No 0 3,943 0 5,794
3 Jun 22 Rauch Douglas Gregory Common Stock Grant Acquire A No No 0 3,943 0 19,965
3 Jun 22 Stoffel James C Common Stock Grant Acquire A No No 0 3,943 0 19,965
3 Jun 22 Russo Cynthia A Common Stock Grant Acquire A No No 0 3,943 0 40,225
13F holders Current Prev Q Change
Total holders 149 166 -10.2%
Opened positions 26 34 -23.5%
Closed positions 43 26 +65.4%
Increased positions 61 63 -3.2%
Reduced positions 46 45 +2.2%
13F shares Current Prev Q Change
Total value 1.31B 9.24B -85.8%
Total shares 31.47M 30.55M +3.0%
Total puts 173.9K 198.4K -12.3%
Total calls 1.04M 788.7K +32.2%
Total put/call ratio 0.2 0.3 -33.7%
Largest owners Shares Value Change
TROW T. Rowe Price 3.1M $124.92M +2.0%
Capital Research Global Investors 2.98M $120.12M -3.7%
ADW Capital Partners 2.5M $132.01M 0.0%
ADW Capital Management 1.8M $72.62M -11.7%
BLK Blackrock 1.72M $69.37M +2.4%
Vanguard 1.47M $59.47M +6.2%
Greenhaven Road Investment Management 1.38M $55.52M +17.5%
Rovida Advisors 1.12M $45.35M +12.4%
MFN Partners Management 1.09M $44.03M +991.4%
Bamco 1.07M $43.06M -2.6%
Largest transactions Shares Bought/sold Change
MFN Partners Management 1.09M +991.4K +991.4%
Wasatch Advisors 0 -880.89K EXIT
Nine Ten Capital Management 0 -800K EXIT
Newtyn Management 750K +750K NEW
Washington Harbour Partners 153.84K -307.59K -66.7%
GS Goldman Sachs 496.23K +289.72K +140.3%
Light Street Capital Management 745.77K -268.72K -26.5%
GBL Gamco Investors 262.85K +262.85K NEW
Citadel Advisors 266.58K +248.88K +1405.9%
ADW Capital Management 1.8M -239.5K -11.7%

Financial report summary

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Competition
PANASONICNCROracleCommunity
Risks
  • The COVID-19 pandemic has had an adverse effect on our business, financial condition and results of operations, and its impact on our business, financial condition, and results of operations remains uncertain.
  • We have incurred losses in each of the last several years, and we expect to continue to incur losses for the foreseeable future.
  • Our results of operations may fluctuate significantly due to the timing of our recognition of SaaS revenues.
  • Our products might experience coding or configuration errors, which could damage our reputation and deter current and potential customers from purchasing our products.
  • If our technical and maintenance support services are not satisfactory to our customers, they may not renew their services agreements or buy future products, which could materially and adversely affect our financial condition and results of operations.
  • Three customers account for a significant portion of our revenues in the Restaurant/Retail segment. The loss of one of these customers, or a significant reduction, delay, or cancellation of purchases by one of these customers, would materially and adversely affect our business, financial condition, and results of operations.
  • There are risks related to our enterprise resource planning system.
  • Issues with product and component availability or supplier performance may affect our ability to manufacture and deliver our products, which could have a negative impact on our business, financial condition and results of operations.
  • Our information technology systems or those of our service providers could be subject to cyber-attacks or other security incidents, which could result in operational disruptions, costly governmental investigations or litigation and other adverse consequences that could have a material and adverse effect on our business, financial condition and results of operations.
  • A portion of our total assets consists of goodwill and identifiable intangible assets, which are subject to a periodic impairment analysis. A significant impairment determination in any future period could have an adverse effect on our results of operations, even without a significant loss of revenue or increase in cash expenses attributable to such period.
  • If we are unable to recruit and retain qualified employees, our business may be harmed.
  • We may be subject to claims by third-parties of intellectual property and/or proprietary rights infringement.
  • Acquisitions are an element of our growth strategy, which subject us to risks commonly associated with acquisitions of other business.
  • We face extensive competition in our markets, and our failure to compete effectively could result in price reductions and/or decreased demand for our products and services.
  • We may not have sufficient cash flow from our operating subsidiaries to pay our debt, which may seriously harm our business.
  • A conversion of the Senior Notes, or a fundamental change under the Senior Notes, if triggered, may materially and adversely affect our financial condition and results of operations.
  • A failure to comply with applicable privacy or data protection laws could harm our reputation and have a material adverse effect on our business, financial condition, and results of operations.
  • We have identified material weaknesses in our internal control over financial reporting which could, if not remediated, impair our ability to report accurate and timely financial information and have a material and adverse effect on our financial condition and results of operations.
  • We are subject to risks associated with our international operations, including compliance with international laws, which may harm our business.
  • A portion of our Government segment revenue is derived from U.S. Government contracts, which contain provisions unique to public sector customers, including the U.S. Government’s right to modify or terminate these contracts at any time.
  • Our Government segment could be adversely affected by changes in budgetary priorities of the U.S. Government, failure to approve U.S. Government budgets on a timely basis, or delays in contract awards and other procurement activities.
  • Failure to comply with a variety of complex procurement regulations could result in liability for various penalties or sanctions including termination of U.S. Government contracts, disqualification from bidding on future U.S. Government contracts, and suspension or debarment from U.S. Government contracting.
  • We cannot guarantee that our Government segment's estimated contract backlog will result in actual revenue.
  • The U.S. Government may revise its procurement or other practices in a manner adverse to our Government segment.
  • Our Government segment is subject to reviews, audits, and cost adjustments by the U.S. Government, which, if unfavorably resolved to us, could adversely affect our profitability, cash flows, or growth prospects.
  • Future sales of our common stock or other securities could depress the price of our common stock and could result in dilution to our existing security holders.
  • If securities analysts do not publish research or reports about our business, or if they issue unfavorable commentary or negative recommendations with respect to our common stock, the price of our common stock, and consequently the market price for the Notes, could decline.
  • Certain provisions of our certificate of incorporation and bylaws and Delaware law may discourage a takeover of our company.
Management Discussion
  • Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • We, through our wholly owned subsidiaries - ParTech and PAR Government Systems Corporation - operate in two distinct reporting segments, Restaurant/Retail and Government.
  • Our Restaurant/Retail segment is a leading provider of software, hardware, and services to the restaurant and retail industries, with more than 500 customers currently using our software products and more than 50,000 active restaurant locations. We provide enterprise restaurants, franchisees, and other restaurant outlets in the three major restaurant categories, quick service, fast casual, and table service, with operational efficiencies, offering them an integrated cloud solution by combining our Brink POS cloud software for front-of-house, our Data Central back-office cloud solution, our PAR Pay and PAR Payment Services for payment solutions, and our Punchh loyalty and engagement solution onto a unified commerce cloud platform. This unified commerce cloud platform delivers an integrated suite of modern solutions that are extensible and built on open application programming interfaces that retain flexibility and the market optionality of an open platform.

Content analysis

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