Slide 1: Q4 '21 Earnings Presentation
Q4 ‘21 Earnings Presentation March 1, 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: Q4 Financials
Q4 Financials • Q4 Revenue Reported-- $81.6 million • 39% Increase from Q4 ‘2020 3 Increase (decrease) in thousands 2021 2020 2021 2020 2021 vs 2020 Revenues, net: Product 32,228 21,791 39.5% 37.2% 47.9% Service 30,594 18,332 37.5% 31.3% 66.9% Contract 18,777 18,393 23.0% 31.4% 2.1% Total revenues n
Slide 4: Live ARR
Live ARR 4 3 4 3 5 7 7 8 3 8 8 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 ARR (U$D ‘000,000) Total ARR grew 164% YoY from Q4 ’20 (aided by the Punchh Acquisition) • Punchh ARR increased 47% from Q4 last year • Brink POS ARR increased 30% from Q4 last year • Data Central increased 7% from Q4 last year • Contracte
Slide 5: Live ARR
Live ARR(1) 1 4 1 9 3 4 8 8 2018 2019 2020 2021 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). CAGR ~85%
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, and $53.7M Q4 2021 annualized. (2) PAR’s gross margin of subscription service revenue excluding amortization of acquired and internally developed technology. See Appendix for non-G
Slide 7: Brink POS ARR
Brink POS ARR 7 2 5 2 6 2 8 3 0 3 2 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 ARR (U$D ‘000,000) • Brink POS ARR increased 30% from Q4 2020 • Contracted ARR is $35M at end of Q4 2021 • Consistently low Churn ~ 3% annualized in Q4 2021
Slide 8: Brink POS Site Count
Brink POS Site Count 8 11.7 12.1 13.2 14.9 15.8 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Site Count ( locat ions ‘000) • 35% increase of Active Sites from Q4 2020 • Activations in Q4 2021 – 1,075 • Active Sites now total ~ 15,800 • Q4 2021 Bookings # 1,162 stores
Slide 9: Punchh ARR
Punchh ARR 9 32 36 40 44 47 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 ARR (U$D ‘000,000) • Punchh ARR increased 47% from Q4 2020 • Contracted ARR is $65.8M at end of Q4 2021
Slide 10: Punchh Live Site Count
Punchh Live Site Count 10 41 46 48 53 56 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Site Count ( locat ions ‘000) • 36% increase of Active Sites from Q4 2020 • 3,200+ stores went live in Q4 2021
Slide 11: Restaurant Segment Product Revenue
Restaurant Segment Product Revenue 11 22 19 24 30 32 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 product revenue (U$D ‘000,000) • Product revenue increased 48% from Q4 ‘20 • 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 Q4 ’21 Annualized Total Restaurant / Retail Revenue $134 $123 $143 $251 Non-Subscription Service Revenue (119) (105) (114) (174) Subscription Service Revenue $15 $18 $28 $77 Total COGS $103 $91 $1
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 mont
Slide 16: Thank You!
™ Thank You!