Par Technology reports Q1 EPS (1c), consensus (4c)

Reports Q1 revenue $103.9M, consensus $105.16M. “PAR delivered another strong quarter, driven by our Better Together software thesis coming to fruition, and the resilient enterprise food-service industry,” commented Savneet Singh, PAR Technology’s (PAR) CEO. “Our Operator and Engagement solutions each contributed to these solid results, evidenced by new customer wins and go-lives, resulting in a 20%+ year-over-year organic growth (78% total growth) in subscription service revenues, and an 18% increase in ARR from Q1 last year. Additionally, we continued to see accelerated adoption of multi-product deals, helping drive strong year-over-year gross margin expansion and our third consecutive quarter of positive Adjusted EBITDA.”