Slide 1: Q1 '22 Earnings Presentation
Q1 ‘22 Earnings Presentation May 10, 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: Q1 Financials
Q1 Financials • Q1 2022 Revenue Reported-- $80.3 million • 47% Increase from Q1 2021 3 in thousands 2022 2021 Revenues, net: Product 25,073 18,556 Service 33,773 18,028 Contract 21,439 17,883 Total revenues net 80,285$ 54,467$ Total gross margin 20,613 10,200 Operating expenses SG&A 22,368 14,537 R&
Slide 4: ARR
ARR 4 3 5 7 7 8 3 8 8 9 4 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 ARR (U$D ‘000,000) Total ARR grew 172% YoY from Q1 ’21 (aided by the Punchh Acquisition) • Punchh ARR increased 40% from Q1 last year (1) • Brink POS ARR increased 35% from Q1 last year • Data Central decreased 3% from Q1 last year • Contracted
Slide 5: ARR Growth Trajectory
ARR(1) Growth Trajectory 1 4 1 9 3 4 8 8 9 4 2018 2019 2020 2021 Q1'22 ARR (1) (U$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 $61M in Q1 2022 Annualized. (2) Adjusted Subscription Gross Margin excludes amortization of intangibles of both internally developed and acquired technologies. Se
Slide 7: Brink POS ARR
Brink POS ARR 7 2 6 2 8 3 0 3 2 3 3 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 ARR (U$D ‘000,000) • Brink POS ARR increased 35% from Q1 2021 • Contracted ARR is $38.3M at end of Q1 2022 • Consistently low Churn ~ 3% annualized in Q1 2022
Slide 8: Brink POS Site Count
Brink POS Site Count 8 12.1 13.2 14.9 15.8 16.9 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Site Count ( locat ions ‘000) • 40% increase of Active Sites from Q1 2021 • Activations in Q1 2022 – 1,244 • Active Sites now total ~ 16,945 • Q1 2022 Bookings # ~ 1,100 stores
Slide 9: Punchh ARR
Punchh ARR 9 36 40 44 47 50 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 ARR (U$D ‘000,000) • Punchh ARR increased 40% from Q1 2021 • Contracted ARR is $68.3M at end of Q1 2022
Slide 10: Punchh Site Count
Punchh Site Count 10 46 48 53 56 59 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Site Count ( locat ions ‘000) • 36% increase of Active Sites from Q1 2021 • 1,500+ stores went live in Q1 2022
Slide 11: Restaurant Segment Product Revenue
Restaurant Segment Product Revenue 11 19 24 30 32 25 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 product revenue (U$D ‘000,000) • Product revenue increased 35% from Q1 ‘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 Q1’22 Annualized Total Restaurant / Retail Revenue $134 $123 $143 $210 $235 Non-Subscription Service Revenue (119) (105) (114) (147) (150) Subscription Service Revenue $15 $18 $28 $63 $85
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!