Par Technology Corporation · NYSE:PAR
Par Technology — Q3 2023 Earnings Presentation
19 slides from Par Technology's earnings presentation, Nov 9, 2023
Slide 1: Q3 '23 Earnings Presentation
Q3 ‘23 Earnings Presentation November 9, 2023 NYSE: PAR partech.com
Slide 2: Forward-Looking Statements. Industry and Market Data.
Forward-Looking Statements. Industry and Market Data. This presentation contains forward-looking statements within the meaning of Section 21E of the Market, industry, and other data included in this presentation are from or based on our own Securities Exchange Act of 1934, as amended, Section 27A of
Slide 3: A little about us...
A little about us... partech.com
Slide 4: Mission: enable personalized experiences that connect people to brands
To enable personalized experiences that connect people to the brands, meals, and moments they love.
Slide 5: Our Journey … Thus Far ...
Our Journey … Thus Far ... $128.3M Q3 2023 partech.com
Slide 6: Building a Unified Experience
Building a Unified Experience • Unified Technology platform offering integrated solutions and sophisticated data insights • Pairs with our state-of-the-art hardware offerings for a complete tech stack • Supported by our comprehensive professional service offerings to drive a positive customer experi
Slide 7: Financial Review
Financial Review Third Quarter 2023 Highlights partech.com
Slide 8: Q3 '23 Financials
Q3 ‘23 Financials Three Months Ended September 30, in thousands 2023 2022 Revenues, net: Hardware $ 25,824 $ 31,343 Subscription service 31,363 25,170 Consolidated Highlights Professional service 11,514 11,840 Contract Total revenues net 38,433 107,134 24,414 92,767 • 15% increase in revenue from Q3
Slide 9: Quarterly KPI Trends: Guest Engagement
Quarterly KPI Trends Guest Engagement (Punchh + MENU) ARR ($‘000,000) Active Sites (‘000) 8% 1.5% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 9/30/2023 compared to the quarter ended 9/30/2022. Please see Appendix A — Key Performance Indicators for more information on ARR a
Slide 10: Quarterly KPI Trends: Operator Solutions
Quarterly KPI Trends Operator Solutions (Brink POS + PAR Payment Services + PAR Pay) ARR ($‘000,000) Active Sites (‘000) 38% 21% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 9/30/2023 compared to the quarter ended 9/30/2022. Please see Appendix A — Key Performance Indicator
Slide 11: Quarterly KPI Trends: Back Office
Quarterly KPI Trends Back Office (Data Central) ARR ($‘000,000) Active Sites (‘000) 21% 12% Y/Y Growth Y/Y Growth Year-over-year metrics are for the quarter ended 9/30/2023 compared to the quarter ended 9/30/2022. Please see Appendix A — Key Performance Indicators for more information on ARR and Act
Slide 12: Annual KPI Trends: Subscription Services
Annual KPI Trends Subscription services Adjusted Subscription ARR ($‘000,000) Service Gross Margin(1) 82% 17% CAGR CAGR (3) (2) (3) (1) Adjusted Subscription Service Gross Margin is a non-GAAP financial measure. Please see Appendix A for a detailed reconciliation to Subscription Service Gross Margin
Slide 13: Annual KPI Trends: Hardware
Annual KPI Trends Hardware Hardware Revenue ($'000,000) 25% CAGR • Proving value of a complete tech stack • Navigating difficult/challenging supply chain environment (1) (1) YTD' 23 hardware revenue is for the nine months ended September 30, 2023. CAGR stands for Compounded Annual Growth Rate. parte
Slide 14: Appendix A
Appendix A partech.com
Slide 15: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
Adjusted Subscription Gross Margin Non-GAAP Reconciliation ($'000,000), except % 12 Months Ended 9 Months Ended Dec 2020 Dec 2021 Dec 2022 Sep 2023 Subscription Service Revenue $31 $63 $97 $90 Subscription Service Gross Margin 10 24 50 43 Add back Amortization from Acquired and Internally Developed
Slide 16: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
Adjusted Subscription Gross Margin Non-GAAP Reconciliation ($'000,000), except % 3 Months Ended Sep 2022 Sep 2023 Subscription Service Revenue $25 $31 Subscription Service Gross Margin 12 16 Add back Amortization from Acquired and Internally Developed Technology included in Subscription Service 6 6
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: Key Performance Indicators
Key Performance Indicators • Annual 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 monthly subscripti
Slide 19: Thank You!
Thank You! partech.com