PAR TECHNOLOGY CORP
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
PAR$22.30+2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(24,350) | $(18,288) |
| Net income from discontinued operations | (197) | (2,078) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 11,882 | 7,293 |
| Accretion of debt in interest expense, net | 588 | 508 |
| Accretion of discount on held to maturity investments in interest expense, net | — | (397) |
| Current expected credit losses | 1,109 | 564 |
| Provision for obsolete inventory | (268) | 108 |
| Stock-based compensation | 7,181 | 4,410 |
| Loss on debt extinguishment | 5,791 | — |
| Deferred income tax | 961 | (8,049) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (11,356) | (2,095) |
| Inventories | (840) | (1,613) |
| Other current assets | (2,012) | (2,566) |
| Other assets | 592 | (730) |
| Accounts payable | (2,962) | 5,297 |
| Accrued salaries and benefits | (10,433) | (4,372) |
| Accrued expenses | (2,918) | (2,845) |
| Customer deposits and deferred service revenue | 5,451 | (1,445) |
| Customers payable | 4,631 | 2,388 |
| Other long-term liabilities | (21) | (115) |
| Cash used in operating activities - continuing operations | (17,171) | (24,025) |
| Cash provided by operating activities - discontinued operations | — | 449 |
| Net cash used in operating activities | (17,171) | (23,576) |
| Cash flows from investing activities: | ||
| Cash paid for acquisition, net of cash acquired | (4,323) | (166,292) |
| Capital expenditures | (413) | (45) |
| Capitalization of software costs | (1,138) | (1,258) |
| Proceeds from sale of held to maturity investments | — | 18,980 |
| Purchases of held to maturity investments | — | (3,119) |
| Cash used in investing activities - continuing operations | (5,874) | (151,734) |
| Cash provided by (used in) investing activities - discontinued operations | 197 | (127) |
| Net cash used in investing activities | (5,677) | (151,861) |
| Cash flows from financing activities: | ||
| Repayments of long-term debt | (93,600) | — |
| Proceeds from private placement of common stock, net of issuance costs | — | 194,490 |
| Proceeds from debt issuance, net of original issue discount | 111,136 | — |
| Treasury stock acquired from employees upon vesting or forfeiture of restricted stock | (7,015) | (4,838) |
| Proceeds from exercise of stock options | 215 | 1,105 |
| Net cash provided by financing activities | 10,736 | 190,757 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Effect of exchange rate changes on cash and cash equivalents | 278 | 479 |
| Net (decrease) increase in cash and cash equivalents and cash held on behalf of customers | (11,834) | 15,799 |
| Cash and cash equivalents and cash held on behalf of customers at beginning of period | 121,545 | 47,539 |
| Cash and cash equivalents and cash held on behalf of customers at end of period | $109,711 | $63,338 |
| Reconciliation of cash and cash equivalents and cash held on behalf of customers | ||
| Cash and cash equivalents | $91,652 | $50,780 |
| Cash held on behalf of customers | 18,059 | 12,558 |
| Total cash and cash equivalents and cash held on behalf of customers | $109,711 | $63,338 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for: | ||
| Cash paid for interest | $349 | $— |
| Cash paid for income taxes | 2,145 | 340 |
| Capitalized software recorded in accounts payable | 40 | 24 |
| Capital expenditures in accounts payable | 303 | 176 |
| Common stock issued for acquisition | — | 19,170 |
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