Par Technology Corporation · NYSE:PAR
Par Technology — Merger or Acquisition (March 2024)
30 slides from Par Technology's merger presentation, Mar 11, 2024
Slide 1: PAR Extends Vision March 2024
PAR Extends Vision March 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements. This presentation contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking s
Slide 3: We are Announcing Two Acquisitions That Extend Our Vision
We are Announcing Two Acquisitions That Extend Our Vision Each Opportunity Represents a Unique Opportunity to Own a High-Quality, Profitable and Sticky Business with Potential for Significant Value Creation Through Executing Our Playbook
Slide 4: Our Vision
Our Vision To become the largest enterprise foodservice technology company in the world by 2030
Slide 5: Brands are Suffering Under Tech Complexity
2018 Tech Stack Point of Sale Inventory Management Payment Terminal 2024 Tech Stack POS Loyalty Inventory Mgmt. Payment Terminal Store Ops Management Data Warehouse Digital Ordering 3rd Party Delivery Kiosk Mobile App Gift Cards Website BI CDP Engagement There’s Been Exponential Growth in Foodservic
Slide 6: We are Building Unified Commerce
We are Building Unified Commerce BRANDS EXPERIENCE CUSTOMER EXPERIENCE OPERATOR EXPERIENCE Reporting Payments Online Ordering Operations POS Food & Labor Loyalty Offers & Engagement
Slide 7: The Opportunity for Global Foodservice is Huge
Travel & Leisure (Hotel & Travel) Emerging segment within Travel & Leisure, food sales becoming more and more share of Travel & Leisure industry revenue share Restaurant (QSR & FSR) Our bread-and-butter Our bread-and-butter Our current goal in the short-term is to win North America food tech, intern
Slide 8: Executing Our Playbook
We acquire Best-in-Class products, with an enterprise focus… … and coupled it with deep vertical expertise Product leadership with unmatched performance and marquee customers High level of expertise in an industry with integration to ecosystem … then build Better-Together innovation & GTM Ample whit
Slide 9: Stuzo + TASK Increase Our Scale and Accelerate Path to Profitability
Stuzo + TASK Increase Our Scale and Accelerate Our Path to Profitability Pro Forma PAR ARR1 ($M) High Organic & Inorganic Growth 80%+5-Year ARR CAGR Robust Retention 95%+Gross Retention Marquee Customers 50+of the Top-100 Brands Accelerated Path-to-Profit $20M+Additional 2023 PF Adjusted EBITDA2 + 2
Slide 10: Our Focus is Consistently Delivering Durable, Capital Efficient Growth
Our Focus is Consistently Delivering Durable, Capital Efficient Growth 2023 Pro Forma share count includes shares issued in connection with PAR’s Q1’24 $200M Securities Purchase Agreement, $20M stock purchase consideration for Stuzo out of approximately $190M in total purchase consideration, and pro
Slide 11: Enormous Runway for Organic Growth Within Existing Customer Base
PAR has Enormous Runway for Organic Growth and Adoption within Existing Customer Base Broad Existing Customer Base Strong Per Site Economics $10K+ARPU Using All PAR Products Whitespace for Product Adoption Untapped TAM Restaurant + C-store 80K+PAR Unique Locations 3M+ Total Unique Locations Globally
Slide 12: TASK: Taking Unified Commerce to the Global Foodservice Stage
TASK:Taking Unified Commerce to the Global Foodservice Stage
Slide 13: Investment Summary: TASK Overview, Transaction Overview, Strategic Rationale
Investment Summary TASK Overview Transaction Overview Strategic Rationale TASK is the pre-eminent transaction platform and has what PAR believes to be enterprise grade POS, digital ordering, and engagement solutions for international opportunities Serve global marquee customers, with $40M+ in ARR1 a
Slide 14: All in One Ecosystem for Global Enterprises
All in One Ecosystem for Global Enterprises Enterprise Management Kitchen System Inventory Online Ordering API Reporting Self-service Kiosk POS Loyalty Digital Signage Mobile Apps BI The power is in the TASK platform Own every customer transaction and touchpoint
Slide 15: Operating at Scale Globally with Numerous Marquee Brands
Operating at Scale Globally with Numerous Marquee Brands 110+ Customers $40M+ ARR1 496M Transactional Users 70 Countries A key performance indicator, annual recurring revenue, or ARR, is the annualized revenue from PAR’s subscription services, which includes subscription fees for PAR’s SaaS solution
Slide 16: Platform Purposefully Built for Enterprises
70 COUNTRIES Globally deployed across ~12,000 locations ~10.5B API CALLS On average per month ~8.5B Push notifications 287% Increase in loyalty gamification usage 330M Transactional users 147M Actions being made and captured every day +95% YoY growth in loyalty customers ~4B ANNUAL Loyalty transaction
Slide 17: TASK Platform Extends PAR's Unified Commerce Solution
TASK Platform Extends PAR’s Unified Commerce Solution to Help Solve Global Foodservices Problems Unified Commerce Helping US Enterprises Transaction Platform Serving Global Brands Global Foodservice Tech Powerhouse
Slide 18: TASK's Compelling Business Operations and Sustainable Financial Profile
Unique combination of growth & profitability Demonstrable scale $40M+1H FY24 ARR1 High degree of visibility $6M+LTM 1H FY24 Adj. EBITDA2 80%+ 1H FY24 Recurring SaaS Revenue TASK’s Compelling Business Operations and Sustainable Financial Profile 2023 Pro-Forma PAR ARR includes Stuzo ARR (as of 10/31/
Slide 19: Stuzo: Expanding Unified Commerce Platform to Convenience & Fuel
Stuzo:Expanding Unified Commerce Platform to Convenience & Fuel
Slide 20: Investment Summary: Stuzo Overview, Transaction Overview
Investment Summary Stuzo Overview Transaction Overview Opportunity to Expand Footprint and Innovate in Retail Industry-leading guest engagement platform providing 1:1 personalized loyalty experience from C-store brands directly to customer Serve many major brands across the C-store and fuel spectrum
Slide 21: Convenience & Fuel are Aggressively Adopting Foodservice & Digital
Foodservice becoming largest sales driver in C-store 50% of C-store lack any digitalization 5% can be considered sufficient with digitalization Only 1% can be considered at the forefront of innovation “According to preliminary data from the 2022 NACS State of the industry survey, total foodservice s
Slide 22: Best-in-Class Open Commerce Platform
Best-in-Class Open Commerce® Platform Delivers Business Outcomes Through Personalized & Dynamic Offers Activate – for intelligent 1:1 loyalty Transact – for integrated commerce Experience – for branded consumer engagement Retailer Connect – for corporate-to-site program management A real-time intell
Slide 23: Open Platform with Deep Integration to the Convenience & Fuel Ecosystem
Open Platform with Deep Integration to the Convenience & Fuel Ecosystem 3rd-Party Mobile Apps Merchant Mobile Apps Merchant Web Apps SMSComms Voice-enabled Experiences Automaker Apps Connected Car Integrations Connected Car & Partner Apps Cross-Channel Digital Consumer Experiences Point-of-Sale Reta
Slide 24: Together, PAR + Stuzo Revolutionizes How Brands Engage Consumers
Together, PAR + Stuzo Revolutionizes How Brands Engage Consumers Across Restaurant & Retails 25k Retail sites 30M+ Monthly transactions 120M+ Monthly gallons 30M+ Enrolled members $600M+ Monthly dollars <100ms AVG API response time
Slide 25: Ample Whitespace to Innovate to Disrupt the Convenience & Fuel Market
Back Office Systems Down-Market Expansion Retail Media Network / CPG monetization End-to-End payments solution Digital Ordering & Checkout Sizable Cross-sell Opportunity for key back-office capabilities Power multi-sided network: consumers, retailers, CPGs Deliver an end-to-end payments solution to
Slide 26: Stuzo's Compelling Business Operations and Sustainable Financial Profile
Stuzo’s Compelling Business Operations and Sustainable Financial Profile Unique combination of growth & profitability Demonstrable scale $40M+2023 ARR1 Durablebusiness model High degree of visibility $14M2023 Adj. EBITDA2 111%+ 2023 Net ARR Retention >40% 2023 Rule of 403 2023 Pro-Forma PAR ARR incl
Slide 27: Appendix
Appendix
Slide 28: TASK's Adjusted EBITDA Reconciliation
TASK’s Adjusted EBITDA Reconciliation LTM 1H24 (‘ 000,000) NZD USD Exchange Rate 1.00 NZD / 1 NZD 0.62 NZD / 1 USD Net Income / (Loss) After Tax $ 2 $ 1 Add: Tax Impact (7) (4) Add: Interest and Other Expenses 0 0 Add: Depreciation & Amortization 13 8 EBITDA $ 8 $ 5 Add: SBC 5 3 Other (3) (2) Adj. E
Slide 29: Stuzo's Adjusted EBITDA Reconciliation
Stuzo’s Adjusted EBITDA Reconciliation LTM Oct’23 (‘000,000) USD Net Income / (Loss) After Tax $ 6 Add: Tax Impact (0) Add: Interest 3 Add: Depreciation & Amortization 5 EBITDA $ 14 Add: SBC (0) Adj. EBITDA $ 14
Slide 30: partech.com
partech.com