partech.com Q1 2026 Earnings Presentation May 7, 2026 NYSE: PAR
Forward-Looking Statements. This presentation contains forward-looking statements made pursuant to the safe harbor provisions 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, and the accuracy of such statements is necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. Forward-looking statements can be identified by words such as “believe,” “could,” “would,” “should,” “will,” “continue,” “anticipate,” “expect,” “path,” “plan,” “intend,” “estimate,” “future,” “may,” “potential,” and similar expressions. These statements include, but are not limited to, express or implied forward-looking statements relating to: our future financial performance, including revenues, gross margins, expenses, cash flows, and other financial measures and key performance indicators; the plans, strategies and objectives of management relating to our growth, results of operations, and financial performance, including service and product offerings, the development, demand, market share, and competitive performance of our products and services; the availability and terms of product and component supplies for our hardware products; anticipated benefits of acquisitions, divestitures, and capital markets transactions; and macroeconomic trends, geopolitical events, tariffs, and trade disputes and the expected impact of those trends and events on our business, results of operations, and financial performance. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Factors, risks, trends and uncertainties that could cause actual results to differ materially from those expressed or implied by forward-looking statements include our ability to successfully develop or acquire and transition new products and services and enhance existing products and services to meet evolving customer needs and respond to emerging technological trends, including our effective use of AI in product development and integration of AI tools into our product and service offerings; our ability to add and retain Active Sites and integration partners; our ability to successfully integrate acquisitions into our operations, and realize the anticipated benefits; macroeconomic trends, such as a recession or slowed economic growth, fluctuating interest rates, inflation, and changes in consumer confidence and discretionary spending; geopolitical events affecting countries where we operate or our customers or suppliers operate, including changes in import/ export regulations, such as tariffs, and trade disputes involving the United States and those countries; our ability to retain and manage suppliers, secure alternative suppliers, and manage inventory levels and costs, navigate manufacturing disruptions or logistics challenges, shipping delays, and shipping costs; and the other factors discussed in our most recent Annual Report on Form 10-K and our other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this presentation, which are based on information available to us on the date hereof. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law. Industry and Market Data. Market, industry, and other data included in this presentation are from or based on our own internal good faith estimates and research, and on publicly available publications, research, surveys and studies conducted by third parties, which we believe are reliable, but have not independently verified. Similarly, while we believe our internal estimates and research are reliable, we have not independently verified our internal estimates or research. While we are not aware of any misstatements regarding any market, industry, or other data used by us or expressed in this presentation, such information, because it has not been verified or, by its nature - market surveys, estimates, projections or similar data, are inherently subject to uncertainties, and actual results may differ materially from the assumptions and circumstances reflected in this information. Key Performance Indicators and Non-GAAP Financial Measures.(1) We monitor certain key performance indicators and non-GAAP financial measures in the evaluation and management of our business; certain key performance indicators and non-GAAP financial measures are provided in this presentation as we believe they are useful in facilitating period-to-period comparisons of our business performance. Key performance indicators and non-GAAP financial measures do not reflect and should be viewed independently of our financial performance determined in accordance with GAAP. Key performance indicators and non-GAAP financial measures are not forecasts or indicators of future or expected results and should not have undue reliance placed upon them by investors. Where historic non-GAAP financial measures are included in this presentation, the most directly comparable GAAP financial measures and a detailed reconciliation between GAAP and non-GAAP financial measures is included in the Appendix to this presentation. Unless otherwise indicated, financial and operating data included in this presentation is as of March 31, 2026. Trademarks. “PAR®,” “PAR POSTM”, “Punchh®,” “PAR OrderingTM”, "PAR OPS®," “Data Central®," “DelagetTM,” "PAR RetailTM", "PAR® Pay”, and other trademarks identifying our products and services appearing in this presentation belong to us. Solely for convenience, our trademarks referred to in this presentation may appear without the ® or TM symbols, but such references are not intended to indicate in any way that we will not assert, to the fullest extent under applicable law, our rights to these trademarks. This presentation may also contain trade names and trademarks of other companies. Our use of such other companies’ trade names or trademarks is not intended to imply any endorsement or sponsorship by these companies of us or our products or services. (1) See Appendix for Non-GAAP reconciliations and Key Performance Indicators 2partech.com
Software Renaissance Building a Unified Platform Global Food Service Pure Play Our Journey… So Far (Dollar values represent ARR) • Acquired PAR POS • Restructured PAR, new team, mission, values • Recapitalized PAR to invest in SaaS • Acquired Data Central 2014 202520242020 20232021 20222019 $19.2M Q4 2019 $88.2M Q4 2021 $136.9M Q4 2023 • Launched PAR Payments • Acquired loyalty provider Punchh • Acquired PAR Ordering • Crossed 100k Active Sites • Acquired loyalty provider PAR Retail and international solutions TASK and Plexure • Acquired analytics and intelligence provider Delaget • Divested Government segment to become a pure play food service tech company • Ship and scale the first wave of AI-powered products and workflows • Unify intelligence across all business units into one layer — PAR Intelligence Dynastic AI Platform 2026 $330.1M Q1 2026$283.6M Q1 2025 PAR I ntelli gence partech.com 3
4partech.com • Unified agentic operating platform offering integrated solutions and sophisticated data insights • Pairs with our state of the art hardware offerings for a complete tech stack • Supported by our comprehensive professional service offerings to drive a positive customer experience Building a Unified Experience
5partech.com PAR’s Success Will Be Driven by our Flywheel Established brand and winning market share Land product #1 Reinvest to launch or acquire product #2 Scale economics leads to more capital to reinvest in productsHappy and sticky customers Differentiated Platform
6partech.com Financial Review First Quarter 2026 Highlights
7partech.com Q1 2026 Highlights 1. Adjusted EBITDA is a Non-GAAP financial measure. Please see Appendix for a detailed reconciliation from net loss to Adjusted EBITDA. 2. Announced subsequent to quarter-end in April 2026. 3 4 Bridg Acquisition Launch of PAR Intelligence(2) • Acquired Bridg, an identity resolution and shopper intelligence platform to expand PAR product and service offerings for both Restaurants and Retail • Announced the launch of PAR Intelligence, an agentic AI layer embedded across the PAR platform • Consistent delivery on strong organic ARR growth year-over-year 2 • Adjusted EBITDA(1) of $8.9 million in Q1 2026, an increase of $4.4 million from Q1 2025 and $1.9 million sequentially from Q4 2025 11% Organic ARR Growth1 Accelerating Adjusted EBITDA Expansion
8partech.com Revenue by Offering 23.6% 63.3% 13.1% Hardware Subscription Service Professional Service ARR by Subscription Product Line 39.9% 60.1% Operator Cloud Engagement Cloud Q1 2026 Revenue Breakout
9partech.com 16% Y/Y Growth 283.6 288.2 300.1 317.2 315.7 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 ($'000,000) Organic ARR 11% Y/Y Growth 283.6 288.2 300.1 317.2 330.1 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Total ARR Strong Organic & Inorganic ARR Growth Year-over-year metrics are for the quarter ended 3/31/2026 compared to the quarter ended 3/31/2025. Please see Appendix — Key Performance Indicators for more information on ARR. The charts above present our ARR on a constant currency basis, calculated using the exchange rates set at the beginning of 2026.
10partech.com 20% Y/Y Growth 117.8 119.7 122.1 130.5 131.8 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 ($'000,000) Operator Cloud 12% Y/Y Growth 165.9 168.5 178.0 186.7 198.3 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Engagement Cloud Resilient ARR Growth Across Product Lines Year-over-year metrics are for the quarter ended 3/31/2026 compared to the quarter ended 3/31/2025. Please see Appendix — Key Performance Indicators for more information on ARR. The charts above present our ARR on a constant currency basis, calculated using the exchange rates set at the beginning of 2026.
11partech.com Q1 '26 Financials Consolidated Highlights • 13% increase in gross margin from Q1 2025 • $4.4 million increase in Adjusted EBITDA(1) from Q1 2025 Subscription Service Highlights • 16% increase in ARR from Q1 2025 • 15% increase in revenue from Q1 2025 • 11% increase in gross margin from Q1 2025 Three Months Ended March 31, (in thousands) 2026 2025 Revenues, net: Subscription service $ 78,522 $ 68,410 Hardware 29,254 21,843 Professional service 16,197 13,606 Total revenues, net 123,973 103,859 Total gross margin 54,501 48,342 Operating expenses: Sales and marketing 12,285 11,782 General and administrative 30,696 29,284 Research and development 21,975 19,767 Amortization of identifiable intangible assets 3,431 3,259 Total operating expenses 68,387 64,092 Other income (expense), net 827 (91) Interest expense, net (1,932) (1,634) Gain (loss) on extinguishment of debt, net 380 (5,791) Loss from continuing operations before income taxes (14,611) (23,266) Provision for income taxes (1,558) (1,281) Net loss from continuing operations (16,169) (24,547) Net income from discontinued operations — 197 Net loss (16,169) (24,350) Non-GAAP adjustments 25,117 28,890 Adjusted EBITDA(1) 8,948 4,540 1. Adjusted EBITDA is a Non-GAAP financial measure. Please see Appendix for a detailed reconciliation from net loss to Adjusted EBITDA.
12partech.com Appendix
13partech.com (in thousands) 3 Months Ended Q1 '25 Q1 '26 Net loss $(24,350) $(16,169) Discontinued operations (197) — Net loss from continuing operations (24,547) (16,169) Provision for income taxes 1,281 1,558 Interest expense, net 1,634 1,932 Depreciation and amortization 11,882 12,012 Stock-based compensation 7,181 7,203 Transaction costs 1,155 594 Severance 72 2,669 Litigation expense — 356 Loss (gain) on extinguishment of debt, net 5,791 (380) Other expense (income), net 91 (827) Adjusted EBITDA $4,540 $8,948 Net Loss to Adjusted EBITDA Reconciliation
14partech.com Key Performance Indicators • Annual Recurring Revenue or "ARR” is the annualized revenue from subscription services, including subscription fees for our SaaS solutions and related software support, managed platform development services, and transaction-based payment processing services. We generally calculate ARR by annualizing the monthly recurring revenue for all Active Sites as of the last day of each month for the respective reporting period. Our reported ARR is based on a constant currency, using the exchange rates established at the beginning of the year and consistently applied throughout the period and to comparative periods presented. Applying a constant currency impacted our reported ARR figures for prior periods presented, beginning with Q3 2024, as exchange rate effects began with the acquisition of TASK Group Holdings Limited in 2024. • “Active Sites” represent locations active on PAR’s subscription services as of the last day of the respective reporting period. • “Non-GAAP Subscription Service Gross Margin Percentage” represents subscription service gross margin percentage adjusted to exclude amortization from acquired and internally developed software, stock-based compensation, and severance. • “Non-GAAP Consolidated Gross Margin Percentage” represents consolidated gross margin percentage adjusted to exclude amortization from acquired and internally developed software, stock-based compensation, and severance. • “Adjusted EBITDA” represents net loss before income taxes, interest expense, and depreciation and amortization adjusted to exclude discontinued operations, stock-based compensation, transaction costs, severance, litigation expense, loss (gain) on extinguishment of debt, net, and other expense (income), net. • “ARR Per Unit” represents ARR divided by Active Sites as of the last day of each month for the respective reporting period.
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