Par Technology reports Q2 EPS (23c), consensus (18c)

Reports Q2 revenue $78.15M, consensus $115.11M. “We delivered a strong second quarter, aided by durable demand for our foodservice technology software. Our organic ARR grew by 24% and total ARR grew by 57% in the quarter from Q2 ’23. Our business continues to scale and we are tracking to hit our goal to be adjusted EBITDA positive next quarter,” commented Savneet Singh, PAR Technology CEO. “2024 is an important year for PAR and an inflection point for our Company. By acquiring Stuzo, and TASK, we have enhanced our position as a leading provider of cloud-based technology solutions to enterprise foodservice organizations across the globe. Our “better together” platform strategy will enable PAR to take advantage of the long-term trends driving our business, creating new business opportunities and improved financial performance.”