Par Technology Corporation · NYSE:PAR
Par Technology — Q1 2024 Earnings Presentation
16 slides from Par Technology's earnings presentation, May 9, 2024
Slide 1: Q1 '24 Earnings Presentation
Q1 ‘24 Earnings Presentation May 9, 2024 NYSE: PAR partech.com 1
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: Our Journey … Thus Far ...
Our Journey … Thus Far ... $185.7M Q1 2024 partech.com 3
Slide 4: Building a Unified Experience
Building a Unified Experience • Unified technology platform offering integrated solutions and sophisticated data insights • Pairs with our state of the art hardware offerings for a complete tech stack • Supported by our comprehensive professional service offerings to drive a positive customer experi
Slide 5: Financial Review
Financial Review First Quarter 2024 Highlights partech.com 5
Slide 6: Q1 2024 Highlights
Q1 2024 Highlights 1. Consistent delivery on strong organic ARR growth 2. Cross-sell traction creating meaningful revenue opportunity from existing and potential future whitespace 3. Strong visibility towards profitability and beyond 4. Large and actionable sales pipeline across operator cloud produ
Slide 7: Q1 2024 Revenue Breakout
Q1 2024 Revenue Breakout partech.com 7
Slide 8: Quarterly KPI Trends
Quarterly KPI Trends Annual Recurring Revenue Organic ARR ($‘000,000) Total ARR ($‘000,000) 25% 60% Y/Y Organic Growth Y/Y Total Growth Year-over-year metrics are for the quarter ended 3/31/2024 compared to the quarter ended 3/31/2023. Please see Appendix A — Key Performance Indicators for more info
Slide 9: Quarterly KPI Trends
Quarterly KPI Trends Annual Recurring Revenue by Subscription Service Product Line Engagement Cloud ARR ($‘000,000) Operator Cloud ARR ($‘000,000) 81% 11% 39% Y/Y Total Growth Y/Y Organic Growth Y/Y Growth 107.2 Year-over-year metrics are for the quarter ended 3/31/2024 compared to the quarter ended
Slide 10: Annual KPI Trends
Annual KPI Trends Subscription Service Adjusted Subscription Service Gross Margin(1) (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 (GAAP). partech.com 10
Slide 11: Q1 '24 Financials
Q1 ‘24 Financials Three Months Ended March 31, in thousands 2024 2023 Revenues, net: Hardware $ 18,226 $ 26,777 Subscription service 38,379 27,965 Consolidated Highlights Professional service 13,468 13,842 Contract 35,424 31,853 Total revenues, net 105,497 100,437 • 5% increase in revenue from Q1 20
Slide 12: Appendix A
Appendix A partech.com 12
Slide 13: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
Adjusted Subscription Gross Margin Non-GAAP Reconciliation ($'000,000), except % 12 Months Ended 3 Months Ended Dec 2021 Dec 2022 Dec 2023 Mar 2024 Subscription Service Revenue $63 $97 $123 $38 Subscription Service Gross Margin 24 50 59 20 Add back Amortization from Acquired and Internally Developed
Slide 14: 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 15: 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 and related software support, managed platform development services, and transaction-based payment processing services. We generally
Slide 16: Thank You!
Thank You! partech.com 16