PAR (PAR) investor relations material

Market overview and industry trends

• Quick service restaurants (QSR) have regained market share from full-service and fast casual segments, with fast casual facing significant challenges due to its mid-tier price point.

• Full-service dining, previously a share gainer, is now stalling, while some brands continue to outperform.

• Technology adoption in restaurants is driven by the need for growth, efficiency, and ROI, especially among franchisees and small business owners.

• Brands investing in technology have consistently outperformed those that have not, creating a tailwind for further tech adoption.

Product strategy and competitive positioning

• The platform offers a unified suite of software and AI-driven services, including loyalty, online ordering, point-of-sale, and back office solutions.

• Product quality and customer referenceability are key drivers of enterprise wins, with a consolidated platform approach now favored over multi-vendor solutions.

• Expansion into new verticals, such as pizza and convenience stores (C-stores), is broadening the addressable market.

• The company maintains a strong reputation for delivering on commitments, supporting its competitive edge.

Market opportunity and growth outlook

• The total addressable market (TAM) in North America is estimated at 350,000–400,000 enterprise restaurants, with additional upside from C-stores and international expansion.

• C-store segment represents a greenfield opportunity, with most stores lacking modern loyalty or online ordering solutions.

• The company targets reaching over 100,000 restaurant locations, mirroring peers, and expects ARPU to rise as more modules are added.

• International business is small but growing, with a major focus on a large global RFP.