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Investing.com -- PAR Technology Corporation (NYSE:PAR) reported second quarter earnings that slightly exceeded analyst expectations, with revenue surging 43.8% YoY as the company saw strong adoption of its multi-product offerings.
The restaurant and retail technology provider posted adjusted earnings of $0.03 per share for the second quarter ended June 30, 2025, beating analyst estimates of $0.02. Revenue jumped to $112.4 million, surpassing the consensus estimate of $110.82 million and representing a 43.8% increase from $78.2 million in the same quarter last year. Following the results, PAR Technology shares rose 1.7%.
The company reported adjusted EBITDA of $5.5 million, a significant improvement from a negative $4.3 million in the second quarter of 2024. Subscription service gross margin percentage reached 55.3% on a GAAP basis, an improvement of 220 basis points from the prior year.
"Q2 was another strong quarter in proving out our ’Better Together’ thesis. We signed a record amount of multi-product logos in the quarter and restarted our largest rollout," said PAR CEO Savneet Singh. "In addition to these multi-product wins, we ended the quarter with our largest company-wide pipeline to date."
PAR Technology’s Engagement Cloud, which includes PAR Engagement and PAR Retail offerings, reported annual recurring revenue (ARR) of $167.5 million at the end of the quarter with 119,100 active sites. The company’s Operator Cloud, consisting of PAR POS, PAR Pay and other solutions, posted ARR of $119.2 million with 57,400 active sites.
The company continues to focus on its multi-product strategy, which appears to be gaining traction with customers as evidenced by the record number of multi-product logos signed during the quarter.
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