Strong Revenue Growth
PAR Technology delivered $119 million in revenue, up 23% year-over-year, driven by software subscription and hardware revenue growth.
Adjusted EBITDA Improvement
Adjusted EBITDA improved to $5.8 million, including $800,000 of accounting adjustments, bringing it to $6.6 million, showing continued upward momentum.
ARR Growth
Annual Recurring Revenue (ARR) hit $298.4 million at the end of Q3, up 15% organically, reflecting steady execution across the platform.
Operator Cloud Performance
ARR for Operator Cloud increased 31% year-over-year, including 14% organic growth, showcasing strong performance in large enterprise deployments.
Engagement Cloud Success
Engagement Cloud ARR grew 16% from Q3 last year, with 70% of new deals being multiproduct, demonstrating customer recognition of the ecosystem's value.
PAR Retail Performance
PAR Retail demonstrated strong execution and innovation, leading to record engagement and customer success with 4 new enterprise wins.
Launch of PAR AI
Introduced Coach AI, an operational intelligence assistant, marking a strategic shift to an AI-native future, enhancing operational efficiency.
Positive Cash Flow
Operating cash flow was positive, with cash provided by operating activities of $8 million for the quarter.