Slide 1: Q2 '22 Earnings Presentation
Q2 ‘22 Earnings Presentation August 9, 2022 NYSE: PAR
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: Q2 Financials
Q2 Financials • Q2 2022 Revenue Reported-- $85.1 million • 23.4% Increase from Q2 2021 3 in thousands 2022 2021 Revenues, net: Product 28,390 23,939 Service 35,781 27,185 Contract 20,922 17,826 Total revenues net 85,093$ 68,950$ Total gross margin 21,121 15,103 Operating expenses SG&A 26,398 22,946
Slide 4: ARR
ARR 7 7 8 3 8 8 9 4 9 9 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 ARR (U$D ‘000,000) Total ARR grew 29% YoY from Q2 ’21 • Punchh ARR increased 32% from Q2 last year • Brink POS ARR increased 31% from Q2 last year • Data Central Increased 5% from Q2 last year
Slide 5: ARR Growth Trajectory
ARR(1) Growth Trajectory 1 4 1 9 3 4 8 8 9 9 2018 2019 2020 2021 Q2'22 ARR (1) (U$D ‘000,000) (1) ARR includes Data Central® (acquired December 2019 but ARR inclusion started in early 2020 for graph) and Punchh® (acquired in April 2021).
Slide 6: Adjusted Subscription Gross Margin Expanding
Adjusted Subscription Gross Margin(1) Expanding (1) Subscription Margins were $6.4M in 2018, $10.5M 2019, $15M in 2020, $44M in 2021, and $68M in Q2 2022 Annualized. (2) Adjusted Subscription Gross Margin excludes amortization of intangibles of both internally developed and acquired technologies. Se
Slide 7: Brink POS ARR
Brink POS ARR 7 2 8 3 0 3 2 3 5 3 6 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 ARR (U$D ‘000,000) • Brink POS ARR increased 31% from Q2 2021 (1) • Consistently low Churn ~ 4% annualized in Q2 2022 (1) Brink ARR also includes recurring payment processing services revenue, net of expenses. PAR charges a per-transa
Slide 8: Brink POS Site Count
Brink POS Site Count 8 13.2 14.9 15.8 16.9 17.7 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Site Count ( locat ions ‘000) • 34% increase of Active Sites from Q2 2021 • Activations in Q2 2022 – 962 • Active Sites now total ~ 17,700+ • Q2 2022 Bookings # ~ 950 stores
Slide 9: Punchh ARR
Punchh ARR 9 40 44 47 50 53 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 ARR (U$D ‘000,000) • Punchh ARR increased 32% from Q2 2021
Slide 10: Punchh Site Count
Punchh Site Count 10 48 53 56 59 62 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Site Count ( locat ions ‘000) • 36% increase of Active Sites from Q2 2021 • 3,500 stores went live in Q2 2022
Slide 11: Restaurant Segment Product Revenue
Restaurant Segment Product Revenue 11 24 30 32 25 28 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 product revenue (U$D ‘000,000) • Product revenue increased 18.6% from Q2 ‘21 • Proving Value of Complete Tech Stack • Difficult/Challenging Supply Chain Environment
Slide 12: Appendix
™ Appendix
Slide 13: Subscription Gross Profit GAAP to Non-GAAP Reconciliation
Subscription Gross Profit GAAP to Non-GAAP Reconciliation $M 12 Months Ended Dec-2018 Dec-2019 Dec-2020 Dec-2021 Q2’22 Annualized Total Restaurant / Retail Revenue $134 $123 $143 $210 $257 Non-Subscription Service Revenue (119) (105) (114) (147) (163) Subscription Service Revenue $15 $18 $28 $63 $94
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: Appendix A – Key Performance Metrics
15 Appendix A – Key Performance Metrics • “Annual Recurring Revenue”, or “ARR”, is the annualized revenue from Software a s Service (“SaaS”) and related revenue of our software products. We calculate ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each mon
Slide 16: Thank You!
™ Thank You!