PAR Technology Corporation announced its financial results for the first quarter ended March 31, 2025, on May 9, 2025. The company reported total revenues of $103.9 million, a substantial 48.2% increase year-over-year from $70.1 million in Q1 2024.
PAR achieved its third consecutive quarter of positive adjusted EBITDA, reaching $4.5 million, a significant improvement from a loss of $(10.2) million in the prior year quarter. This consistent profitability underscores the success of the company's strategic transformation.
Subscription service revenues were a key driver, showing over 20% organic growth and 78% total growth year-over-year, with Annual Recurring Revenue (ARR) increasing by 18% from Q1 last year. The GAAP subscription service gross margin percentage expanded by 620 basis points to 57.8%, and the non-GAAP subscription service gross margin percentage improved by 340 basis points to 69.1%.
Despite the strong operational and revenue performance, the company reported a GAAP net loss from continuing operations of $(24.5) million, compared to $(20.4) million in Q1 2024. The diluted net loss per share from continuing operations on a GAAP basis was $(0.61), an improvement from $(0.69) in the prior year quarter, while non-GAAP diluted net loss per share was $(0.01).
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