Par Technology Corporation · NYSE:PAR
Par Technology — Q4 2022 Earnings Presentation
19 slides from Par Technology's earnings presentation, Mar 1, 2023
Slide 1: Q4 '22 Earnings Presentation
Q4 ‘22 Earnings Presentation March 1, 2023 NYSE: PAR
Slide 2: Forward-Looking Statements. Key Performance Indicators and Non-GAAP Financial Measures
Forward-Looking Statements. Key Performance Indicators and Non-GAAP Financial Measures.(1) This presentation contains forward-looking statements within the meaning of Section 21E of the We monitor certain key performance indicators and non-GAAP financial measures in the Securities Exchange Act of 19
Slide 3: A little about us...
A little about us...
Slide 4: To enable personalized experiences that connect people to brands, meals, and moments
To enable personalized experiences that connect people to the brands, meals, and moments they love. eS aS ee...
Slide 5: Our Journey ... Thus Far ...
Our Journey … Thus Far ... $111.4M Q4 2022 Please see Appendix A – Key Performance Indicators for more information on ARR and Active Sites 5
Slide 6: Building a Unified Experience
Building a Unified Experience 6
Slide 7: Financial Review
Financial Review Fourth Quarter and Year End 2022 Highlights
Slide 8: Q4 '22 Financials
Q4 ‘22 Financials Three Months Ended December 31 in thousands 2022 2021 Revenues, net: Hardware $ 29,590 $ 32,228 Consolidated Highlights Subscription service 27,908 18,981 Professional service 13,479 11,613 Contract 26,673 18,777 • 20% increase in revenue from Q4 2021 Total revenues net 97,650 81,5
Slide 9: Quarterly KPI Trends: Guest Engagement
Quarterly KPI Trends Guest Engagement (Punchh + MENU) ARR ($‘000,000) Active Sites (‘000) 26% 25% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 12/31/2022 compared to the quarter ended 12/31/2021. Please see Appendix A for more information on key performance indicators. 9
Slide 10: Quarterly KPI Trends: Operator Solutions
Quarterly KPI Trends Operator Solutions (Brink POS + PAR Payment Services + PAR Pay) ARR ($‘000,000) Active Sites (‘000) 30% 23% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 12/31/2022 compared to the quarter ended 12/31/2021. Please see Appendix A for more information on k
Slide 11: Quarterly KPI Trends: Back Office
Quarterly KPI Trends Back Office (Data Central) ARR ($‘000,000) Active Sites (‘000) 16% 11% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 12/31/2022 compared to the quarter ended 12/31/2021. Please see Appendix A for more information on key performance indicators. 11
Slide 12: Annual KPI Trends: Subscription services
Annual KPI Trends Subscription services Adjusted Subscription ARR ($‘000,000) Service Gross Margin(1) 82% 17% CAGR CAGR (2) (1) Adjusted Subscription Service Gross Margin is a non-GAAP financial measure. (2) 2020 gross margin impacted due to one-time COVID waiver and Cost of Goods Sold (COGS). CAGR
Slide 13: Annual KPI Trends: Hardware
Annual KPI Trends Hardware Hardware Revenue ($'000,000) 25% CAGR • Proving value of a complete tech stack • Navigating difficult/challenging supply chain environment CAGR stands for Compounded Annual Growth Rate. 13
Slide 14: Appendix A
Appendix A
Slide 15: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
Adjusted Subscription Gross Margin Non-GAAP Reconciliation ($'000,000), except % 12 Months Ended Dec 2020 Dec 2021 Dec 2022 Subscription Service Revenue $31 $63 $97 Subscription Service Gross Margin 10 24 50 Add back Amortization from Acquired and Internally Developed Technology included in Subscrip
Slide 16: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
Adjusted Subscription Gross Margin Non-GAAP Reconciliation ($'000,000), except % 3 Months Ended Dec 2021 Dec 2022 Subscription Service Revenue $19 $28 Subscription Service Gross Margin 8 15 Add back Amortization from Acquired and Internally Developed Technology included in Subscription Service 5 5 G
Slide 17: Investment Thesis
Investment Thesis 1. Foodservice market ready for disruption • Large TAM in restaurants with ~1m locations in the US spending 2-3% of total revenue on technology1 • The industry shift to cloud technology has led to an explosion in new technology from Voice AI to marketing technology 2. Meeting marke
Slide 18: Appendix A - Key Performance Indicators
Appendix A - Key Performance Indicators • Annualized Recurring Revenue or "ARR” is the annualized revenue from subscription services, including subscription fees for our SaaS solutions, related software support, and transaction-based payment processing services. We calculate ARR by annualizing the m
Slide 19: Thank You!
Thank You!