PAR Technology’s First Quarter 2024 Earnings Fall Short of Expectations

PAR Technology (NYSE:PAR) reported its first quarter 2024 results, showing a revenue of US$105.5m, which is a 5.0% increase from the first quarter of 2023. However, the net loss widened by 15% to US$18.3m, resulting in a loss per share of US$0.62, which deteriorated from US$0.58 in the previous year.

The company’s revenue and earnings missed analyst expectations, with revenue falling 4.2% short and earnings per share missing estimates by 7.8%. Looking ahead, PAR Technology is forecasted to have an average revenue growth of 13% per year over the next three years, compared to a 6.2% growth forecast for the Electronic industry in the US.

The performance of the American Electronic industry has not been favorable, with PAR Technology’s shares declining by 3.4% over the past week. It’s important to consider investment risk, as the company has identified 2 warning signs that investors should be aware of when making investment decisions.

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