PAR (PAR) 53rd Annual JPMorgan Global Technology, Media and Communications Conference summary

Product strategy and platform integration

• Focused on four core areas: point of sale, back office, engagement (loyalty and online ordering), and payments, with additional products added to strengthen the platform and customer stickiness.

• Multi-product integration has accelerated, with all recent deals being multi-product, driven by seamless integration and customer benefits unavailable from competitors.

• Payments business has grown faster than expected, leveraging both in-store and digital channels, including a digital wallet tied to loyalty programs.

• Largest loyalty program in the U.S. restaurant sector, with innovative digital wallet features increasing engagement and revenue.

• Product additions are evaluated for their ability to enhance the platform's value and customer experience, with a focus on building a strong competitive moat.

Go-to-market, sales, and customer wins

• Enterprise sales are RFP-driven, with long sales cycles that are shortening due to increased demand for digital solutions and growing trust from marquee wins.

• Recent high-profile wins include Burger King, Wendy's, and Popeyes, with referenceable customers driving further growth.

• Weighted sales pipeline is at an all-time high, supported by strong cross-sell and upsell momentum within the existing customer base.

• Multi-year deals and digital transformation trends in restaurants are expected to drive strong growth through 2027.

• Multi-product deals signed in recent quarters are expected to provide significant tailwinds for the next year or two.

Industry trends and macro environment

• Restaurant traffic is slowing slightly, but technology spending remains robust, especially in QSR and fast casual segments.

• Engagement and loyalty pipelines are expanding, as brands seek to strengthen customer relationships amid economic uncertainty.

• Technology adoption in restaurants is resilient, with loyalty and back office software expected to see accelerated growth in a recessionary environment.

• QSR and fast casual segments historically perform well during downturns, supporting continued investment in digital initiatives.