Quarterly Revenue Growth
Q4 revenue of $120.1M, up 14% year-over-year, driven primarily by subscription services and higher hardware revenue.
Strong Full-Year Performance
Full year revenue of $455.5M, up $105M year-over-year (~30% YoY increase), including 21% organic growth and subscription services growth of 40% for the year.
Return to Non-GAAP Profitability
Q4 non-GAAP net income of $2.6M ($0.06/share), marking the third consecutive quarter of non-GAAP profitability; full-year non-GAAP net income improved by over $30M year-over-year.
Improving Adjusted EBITDA
Adjusted EBITDA of $7M in Q4 (up $1.2M sequentially and $1.3M YoY), reflecting ongoing margin improvement and operating leverage.
ARR Momentum
Exited Q4 with ARR of $315.4M (reported as ~$315M), representing ~15% organic ARR growth year-over-year and a record incremental ARR addition of $17M in Q4; second-half growth more than double first-half growth.
Subscription Mix and Margins
Subscription services comprised 63% of Q4 revenue ($76M, up 18% YoY). Non-GAAP subscription service margin improved (reported non-GAAP subscription margin ~65.8% vs 64.7% prior year; company also cited a 71% figure excluding a specific acquired contract).
Commercial Wins & Product Adoption
Major customer wins and deployments: decade-long Papa Johns deal (3,200 sites), Shake Shack (Punchh), Lucky Strike Entertainment, Condado Tacos (PAR catering), Smoothie King (PAR Games), and first significant PAR Smart Pass sale. Coach AI adopted in ~1,000 stores with ~1,000 active users; launch of PAR Drive AI for C-stores/fuel retailers.
Bookings and Multiproduct Traction
Record bookings with over $25M booked for PAR POS in Q4; multiproduct deal mix high (over 80% of new deals multiproduct; nearly 90% of operator deals multiproduct), supporting cross-sell and ARPU expansion.
Hardware & Deployment Growth
Hardware revenue of $28M in Q4, up 7% YoY, driven by increased hardware demand, edge compute transitions, kiosk expansion and new store openings across large QSR customers.
Balance Sheet & Capital Allocation
Cash and cash equivalents of $80M as of Dec 31, 2025; company authorized a $100M share buyback program and signaled discipline to deploy capital across organic growth, M&A, and buybacks.