PAR Technology Corporation Announces Q4 and Full-Year 2024 Financial Results
NEW HARTFORD, N.Y. – PAR Technology Corporation (NYSE: PAR) released its financial results for the fourth quarter and the year ending December 31, 2024. The company reported significant achievements, including substantial growth in Annual Recurring Revenue (ARR) and subscription service revenues.
PAR’s Annual Recurring Revenue (ARR) for the year reached $276.0 million, representing a remarkable 102% growth, factoring in 21% organic growth, up from $136.9 million in Q4 2023. Subscription service revenues saw a 95% year-over-year increase, with a 25% organic growth component since Q4 2023. The company also acquired Delaget, LLC, a leading provider of restaurant analytics and business intelligence solutions.
Savneet Singh, CEO of PAR, commented on the results: “We delivered a strong fourth quarter, with 21% organic ARR growth year-over-year and our second consecutive quarter of positive Adjusted EBITDA, proving out our better together thesis. 2024 was a milestone year for PAR with what I believe is our best organic execution yet. That execution, combined with the addition of accretive modules, sets our company up to keep our flywheel moving aggressively for years to come. We continue to be confident in our ability to drive further long-term growth and deliver shareholder value.”
Q4 2024 Financial Highlights
Full Year 2024 Financial Highlights
Key Performance Indicators
PAR’s key performance indicators are based on two subscription service product lines: Engagement Cloud and Operator Cloud.
Engagement Cloud – Fourth Quarter 2024
- ARR at the end of Q4 2024: $159.1 million
- Active Sites as of December 31, 2024: 119.7 thousand
Operator Cloud – Fourth Quarter 2024
- ARR at the end of Q4 2024: $116.8 million
- Active Sites as of December 31, 2024: 54.8 thousand
Earnings Conference Call
Management will discuss the financial results in more detail during a conference call on February 28, 2025, at 9:00 a.m. (Eastern). The call will be webcast live on PAR Technology’s Investor Relations website, with a recording available afterward.
About PAR Technology Corporation
For over forty years, PAR Technology Corporation has been innovating in the foodservice sector. PAR develops software and hardware solutions, including point-of-sale systems, digital ordering platforms, loyalty programs, back-office management tools, and payment systems and is used in more than 110 countries.
PAR Technology Corporation’s logo.
PAR’s core philosophy is to provide “Better Together” unified solutions to improve customer engagement, productivity, and company growth, making restaurant management easier for its clients. The company’s environmental, social, and governance report can be found on the company website.
