PARHIGH SIGNALFINANCIAL10-K

PAR's net loss exploded from $5.0M to $84.5M (-1594%) despite strong 30% revenue growth to $455.5M, indicating severe profitability deterioration following major acquisitions.

The dramatic widening of losses despite robust top-line growth suggests PAR is struggling to integrate recent acquisitions profitably or is facing significant one-time integration costs. The company's cash position declined 26% to $79.6M while current liabilities increased 26%, creating potential liquidity concerns if losses continue at this pace.

Comparing 2026-02-26 vs 2025-03-03View on EDGAR →
FINANCIAL ANALYSIS

PAR delivered strong operational growth with revenue increasing 30% to $455.5M and gross profit expanding 36% to $198.0M, while expanding its global footprint to 150,000+ locations. However, the company's net loss catastrophically widened by nearly 1600% to $84.5M, completely offsetting the positive top-line momentum and suggesting massive integration costs or operational inefficiencies from recent acquisitions. The deteriorating cash position (down 26% to $79.6M) combined with rising current liabilities and capital expenditures signals potential near-term financial stress despite the underlying business growth.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
-1593.6%
-$5.0M→-$84.5M

Net income declined 1593.6% — review whether driven by operations, interest costs, or non-recurring items.

Capital Expenditure
Cash Flow
+242.6%
$970K→$3.3M

Capital expenditure jumped 242.6% — major investment cycle underway; assess returns on deployment.

Interest Expense
P&L
+126.5%
$136K→$308K

Interest expense surged 126.5% — significant debt increase or rising rates materially impacting earnings.

Share Buybacks
Cash Flow
-40.8%
$5.3M→$3.1M

Buyback activity reduced 40.8% — capital being redeployed elsewhere or cash conservation underway.

Accounts Receivable
Balance Sheet
+36.8%
$59.7M→$81.7M

Receivables surged 36.8% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Gross Profit
P&L
+35.5%
$146.1M→$198.0M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Revenue
P&L
+30.2%
$350.0M→$455.5M

Strong top-line growth of 30.2% — accelerating demand or successful expansion into new markets.

Cash & Equivalents
Balance Sheet
-26.4%
$108.1M→$79.6M

Cash decreased 26.4% — monitor burn rate and upcoming capital needs.

Current Liabilities
Balance Sheet
+25.8%
$111.8M→$140.7M

Current liabilities rose 25.8% — increased short-term obligations, watch current ratio.

Inventory
Balance Sheet
+25.5%
$21.9M→$27.4M

Inventory built 25.5% — monitor whether demand supports this build or if write-downs may follow.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-03-03
ADDED
Solely for convenience, our trademarks referred to in this Form 10-K may appear without the or TM symbols, but such references are not intended to indicate in any way that we will not 1 assert, to the fullest extent under applicable law, our rights to these trademarks.
Our omnichannel solutions are used in more than 150,000 active restaurants and retail locations across the world.
PAR s solutions are designed with flexibility and openness at their core and are engineered to scale and adapt with brands at every stage of growth.
Our solutions integrate with others, yet deliver significant value when used together across our software, hardware, and payments offerings.
With intentional innovation as a priority, PAR s solutions help streamline operations, drive higher engagement, and strengthen guest experiences for restaurants and retailers globally.
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REMOVED
Our omnichannel solutions are used in more than 140,000 active restaurants and retail locations in more than 110 countries.
2024 Business Highlights Stuzo Acquisition: In March 2024 we acquired Stuzo, LLC, a digital engagement software provider to C-Stores.
With the acquisition of Stuzo, we expanded into an adjacent vertical and became a leader in technology for convenience and fuel retailers.
Divestiture of Government Segment: In June 2024 we divested PAR Government Systems Corporation ( PGSC ) and in July 2024 we divested Rome Research Corporation ( RRC ) resulting in the divestiture of our Government segment; beginning with the quarter ended June 30, 2024, we operate in a single reportable segment.
TASK Group Acquisition: In July 2024 we acquired TASK Group Holdings Limited ("TASK Group"), an Australia-based global foodservice transaction platform, offering international unified commerce solutions, including interactive customer engagement and seamless integration, tailored for major brands worldwide.
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