Reports Q3 revenue $107.134M, consensus $101.15M. PAR Technology CEO, Savneet Singh, commented on the results, “As our results for the quarter demonstrated, we continue to build momentum as we scale our business. In the quarter we delivered subscription services revenue growth of 24.6% and ARR growth of 20.4%. With the year-over-year growth in our ARR, a rebound in our subscription services gross margin and our focus on holding operating expenses, we improved and reduced our adjusted EBITDA loss by over 65% from Q3 2022. This quarter also marked a seminal moment in PAR’s history as we announced the exclusive selection of Brink POS and MENU Link by Burger King for their North American traditional restaurants. Already possessing the most comprehensive cloud offering, PAR will continue to deliver a roadmap of innovation to strengthen our offerings while enhancing the customer experience.”
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