Slide 1: Q3 '23 Earnings Presentation
partech.com Q3 ‘23 Earnings Presentation November 9, 2023 NYSE: PAR
Slide 2: Forward-Looking Statements
partech.com 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
Slide 3: A little about us...
partech.com A little about us...
Slide 4: To enable personalized experiences that connect people to the brands, meals, and moments they love
To enable personalized experiences that connect people to the brands, meals, and moments they love.
Slide 5: Our Journey... Thus Far
partech.com Our Journey … Thus Far ... $128.3M Q3 2023
Slide 6: Building a Unified Experience
partech.com • Unified technology platform offering integrated solutions and sophisticated data insights • Pairs with our state of the art hardware offerings for a complete tech stack • Supported by our comprehensive professional service offerings to drive a positive customer experience Building a Un
Slide 7: Financial Review Third Quarter 2023 Highlights
partech.com Financial Review Third Quarter 2023 Highlights
Slide 8: Q3 '23 Financials
partech.com Q3 ‘23 Financials Consolidated Highlights • 15% increase in revenue from Q3 2022 • 32% increase in gross margin from Q3 2022 • 27% reduction of net loss from Q3 2022 Subscription Service Highlights • 20% increase in ARR from Q3 2022 • 25% increase in revenue from Q3 2022 Three Months End
Slide 9: Quarterly KPI Trends
partech.com Quarterly KPI Trends ARR ($‘000,000) 57.5 58.9 59.4 60.9 62.2 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 8% Y/Y Growth Active Sites (‘000) 67.1 69.9 68.1 70.5 68.1 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 1.5% Y/Y Growth Guest Engagement (Punchh + MENU) Year-over-year metrics are for the quarter ended 9/30/2023
Slide 10: Quarterly KPI Trends: Operator Solutions
partech.com Quarterly KPI Trends Operator Solutions (Brink POS + PAR Payment Services + PAR Pay) ARR ($‘000,000) Year-over-year metrics are for the quarter ended 9/30/2023 compared to the quarter ended 9/30/2022. Please see Appendix A — Key Performance Indicators for more information on ARR and Acti
Slide 11: Quarterly KPI Trends: Back Office (Data Central)
partech.com Quarterly KPI Trends Back Office (Data Central) ARR ($‘000,000) Year-over-year metrics are for the quarter ended 9/30/2023 compared to the quarter ended 9/30/2022. Please see Appendix A — Key Performance Indicators for more information on ARR and Active Sites. 10.2 10.9 11.3 11.6 12.4 Q3
Slide 12: Annual KPI Trends
partech.com Annual KPI Trends 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
Slide 13: Annual KPI Trends: Hardware Revenue
partech.com Annual KPI Trends Hardware Revenue (#039;000,000) (1) YTD' 23 hardware revenue is for the nine months ended September 30, 2023. CAGR stands for Compounded Annual Growth Rate. • Proving value of a complete tech stack • Navigating difficult/challenging supply chain environment Hardware 73 105
Slide 14: Appendix A
partech.com Appendix A
Slide 15: Adjusted Subscription Gross Margin Non-GAAP Reconciliation
partech.com (#039;000,000), except % 12 Months Ended 9 Months Ended Dec 2020 Dec 2021 Dec 2022 Sep 2023 Subscription Service Revenue $31 $63 $97 $90 Subscription Service Gross Margin 10 24 50 43 Add back Amortization from Acquired and Internally Developed Technology included in Subscription Service Gro
Slide 16: Adjusted Subscription Gross Margin Non-GAAP Reconciliation (Quarterly)
partech.com (#039;000,000), except % 3 Months Ended Sep 2022 Sep 2023 Subscription Service Revenue $25 $31 Subscription Service Gross Margin 12 16 Add back Amortization from Acquired and Internally Developed Technology included in Subscription Service Gross Margin 6 6 Adjusted Subscription Service Gros
Slide 17: Investment Thesis
partech.com 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
Slide 18: Key Performance Indicator Definitions
partech.com • Annual 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 reve
Slide 19: Thank You!
partech.com Thank You!