Par Technology Corporation · NYSE:PAR

Par Technology — Q1 2023 Earnings Presentation

19 slides from Par Technology's earnings presentation, May 10, 2023

  1. Slide 1: Q1 '23 Earnings Presentation

    Q1 ‘23 Earnings Presentation May 10, 2023 NYSE: PAR

  2. 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 sta

  3. Slide 3: A little about us...

    A little about us...

  4. Slide 4: To enable personalized experiences that connect people to brands, meals, and moments

    To enable personalized experiences that connect | people to the brands, meals, and moments they love.

  5. Slide 5: Our Journey … Thus Far

    Our Journey … Thus Far ... 5 $115.9M Q1 2023 Please see Appendix A – Key Performance Indicators for more information on ARR

  6. Slide 6: Building a Unified Experience

    Building a Unified Experience 6

  7. Slide 7: Financial Review First Quarter 2023 Highlights

    Financial Review First Quarter 2023 Highlights

  8. Slide 8: Q1 '23 Financials Consolidated Highlights

    Q1 ‘23 Financials Consolidated Highlights • 25% increase in revenue from Q1 2022 • 13% increase in gross margin from Q1 2022 Subscription Service Highlights • 23% increase in ARR from Q1 2022 • 31% increase in revenue from Q1 2022 8 Three Months Ended March 31, 2023 in thousands 2023 2022 Revenues,

  9. Slide 9: Quarterly KPI Trends Guest Engagement (Punchh + MENU)

    9 Quarterly KPI Trends Guest Engagement (Punchh + MENU) ARR ($‘000,000) Year-over-year metrics are for the quarter ended 3/31/2023 compared to the quarter ended 3/31/2022. Please see Appendix A — Key Performance Indicators for more information on ARR and Active Sites. 50.2 53.2 57.5 58.9 59.4 Q1'22

  10. Slide 10: Quarterly KPI Trends Operator Solutions

    10 Quarterly KPI Trends Operator Solutions (Brink POS + PAR Payment Services + PAR Pay) ARR ($‘000,000) Year-over-year metrics are for the quarter ended 3/31/2023 compared to the quarter ended 3/31/2022. Please see Appendix A — Key Performance Indicators for more information on ARR and Active Sites.

  11. Slide 11: Quarterly KPI Trends Back Office (Data Central)

    11 Quarterly KPI Trends Back Office (Data Central) ARR ($‘000,000) Year-over-year metrics are for the quarter ended 3/31/2023 compared to the quarter ended 3/31/2022. Please see Appendix A — Key Performance Indicators for more information on ARR and Active Sites. 8.7 9.2 10.2 10.9 11.3 Q1'22 Q2'22 Q

  12. Slide 12: Annual KPI Trends: ARR and Adjusted Subscription Service Gross Margin

    ARR ($‘000,000) (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). (2) 2020 gross margin impacted due to one-time COVID waiver and Cost of Goods Sold (COGS). (3) Q1'23 ARR is

  13. Slide 13: Hardware Annual KPI Trends

    13 Hardware Revenue (#039;000,000) (1) YTD' 23 hardware revenue is for the three months ended March 31, 2023 CAGR stands for Compounded Annual Growth Rate. 25% CAGR • Proving value of a complete tech stack • Navigating difficult/challenging supply chain environment Hardware Annual KPI Trends 73 105 114

  14. Slide 14: Appendix A

    Appendix A

  15. Slide 15: Adjusted Subscription Gross Margin Non-GAAP Reconciliation

    (#039;000,000), except % 12 Months Ended 3 Months Ended Dec 2020 Dec 2021 Dec 2022 Mar 2023 Subscription Service Revenue $31 $63 $97 $28 Subscription Service Gross Margin 10 24 50 14 Add back Amortization from Acquired and Internally Developed Technology included in Subscription Service Gross Margin 6

  16. Slide 16: Adjusted Subscription Gross Margin Non-GAAP Reconciliation

    (#039;000,000), except % 3 Months Ended Mar 2022 Mar 2023 Subscription Service Revenue $21 $28 Subscription Service Gross Margin 11 14 Add back Amortization from Acquired and Internally Developed Technology included in Subscription Service Gross Margin 5 6 Adjusted Subscription Service Gross Margin $16

  17. Slide 17: 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 market need with a Unif

  18. Slide 18: Key Performance Indicator Definitions

    18 • Annualized 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 subscription service revenue f

  19. Slide 19: Thank You!

    Thank You!

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