PAR · PAR Technology Corporation

PAR Technology Corporation delivered a robust start to 2026, reporting 19.4% year-over-year revenue growth to $124.0 million, primarily fueled by a 15% increase in subscription service revenues to $78.5 million and hardware sales up to $29.3 million. Subscription services, the core of the business, saw ARR expand 16% to $330.1 million, with 11% organic growth and $14.4 million contributed by the recent Bridg acquisition, an identity resolution and shopper intelligence platform. Engagement Cloud ARR reached $198.3 million with 139.0 thousand active sites, while Operator Cloud hit $131.8 million across 60.3 thousand sites, demonstrating balanced expansion across product lines including PAR POS, Punchh, PAR Ordering, and others. CEO Savneet Singh highlighted 'increasing operating leverage as the platform scales,' evidenced by adjusted EBITDA doubling to $8.9 million from $4.5 million YoY, despite GAAP net loss narrowing to $(16.2) million. Gross margins faced slight pressure, with subscription service GAAP margin at 55.6% (down 220 bps YoY), reflecting investments in growth. The company issued its first-ever guidance, signaling confidence: Q2 revenue $122.5-$127.5 million and adjusted EBITDA $9.5-$11.5 million; full-year revenue $500-$515 million and adjusted EBITDA $44-$47 million. Balance sheet shows $77.2 million cash, up slightly from year-end, with long-term debt at $421.7 million. A conference call was held on May 7 at 4:30 p.m. ET, webcast at www.partech.com/investor-relations.