PAR makes these analytical insights and data available to our customers in a variety of ways. This opens up all kinds of opportunities for analytics and AI (Q1CC): Ultimately, what we offer is seamlessness and a unified experience that is scalable.Īt the core, the company is in the customer data business, and this works much better when these are integrated in the cloud on an interconnected platform.

Unlike competitors, we are able to sync multi-quarter roadmaps between products on all sides of an integration and thereby dictate quality and unlock operational efficiencies such as singular contracts, singular account management, better SLAs and more.

Innovation requires coordination, and optimal coordination requires control. While the term unified commerce has become increasingly commoditized by our mostly single product competitors, our multi-product offering gives PAR a strategic advantage. The company has state-of-the-art solutions, especially with Brink and MENU, which it is starting to sell in the US ahead of time (this was supposed to be an H2 effort) as customers clamor for it (they already sold 500 locations before any serious sales effort).īut the real advantage is that the whole is bigger than the sum of the parts (Q1CC): The possibility of a sale of its government business.Multiple cross-selling and upselling opportunities.We see numerous reasons to be bullish on the shares: On the other hand, Back Office is recovering nicely with a 30% growth, and MENU has been introduced in the US market well ahead of schedule, achieving 500+ locations before any real sales effort. We are also having success upselling additional Punchh modules to existing customers as they build out their loyalty and customer engagement priorities. We signed some return customers, customers who for whatever reason had in previous years churn and are now re-signing with Punchh as they have realized Punchh is best-in-class. Only Punchh (its loyalty program solution) is feeling the slowdown in the economy a little, but it is already stabilizing ahead of management expectations and is winning back customers it previously lost ( Q1CC): Operator Solutions (Brink POS, PAR Pay, and PAR Payment Services).It reports its restaurant software in three segments: The company also has a legacy government business that has been on a tear lately and is likely to be sold at some point. PAR Technology ( NYSE: PAR) is one of our favorite companies as it has top-notch software solutions for the restaurant business that produce reliable 20%+ ARR growth, as well as a POS hardware business that has turned profitable and is quite complementary to its software business.

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