PAR TECHNOLOGY CORP
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(84,461) | $(4,987) | $(69,752) |
| Net income from discontinued operations | (197) | (84,923) | (11,867) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 49,018 | 37,907 | 27,014 |
| Accretion of debt in interest expense, net | 2,342 | 2,432 | 2,205 |
| Accretion of discount on held to maturity investments in interest expense, net | — | 480 | (1,886) |
| Current expected credit losses | 4,334 | 2,596 | 579 |
| Provision for obsolete inventory | 1,266 | (150) | (1,915) |
| Stock-based compensation | 30,645 | 24,487 | 14,291 |
| Impairment loss | 3,555 | 225 | — |
| Loss on debt extinguishment | 5,791 | 6,560 | 635 |
| Adjustment to contingent consideration liability | — | (600) | (9,200) |
| Deferred income tax | (535) | (10,788) | 197 |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (25,889) | (10,496) | (772) |
| Inventories | (6,520) | 1,768 | 15,984 |
| Other current assets | (15,236) | (3,390) | (1,147) |
| Other assets | 2,793 | 30 | (1,608) |
| Accounts payable | 3,979 | 4,276 | 4,411 |
| Accrued salaries and benefits | 2,483 | 8,101 | (265) |
| Accrued expenses | (3,174) | 2,476 | 769 |
| Customer deposits and deferred service revenue | 2,023 | (318) | (2,179) |
| Customers payable | 692 | 3,258 | 2,966 |
| Other long-term liabilities | (67) | (257) | (412) |
| Cash used in operating activities - continuing operations | (27,158) | (21,313) | (31,952) |
| Cash (used in) provided by operating activities - discontinued operations | — | (3,933) | 14,877 |
| Net cash used in operating activities | (27,158) | (25,246) | (17,075) |
| Cash flows from investing activities: | |||
| Cash paid for acquisitions, net of cash acquired | (4,323) | (309,368) | (1,900) |
| Capital expenditures | (3,323) | (970) | (5,018) |
| Capitalization of software costs | (5,618) | (5,814) | (5,346) |
| Proceeds from company owned life insurance policies | — | 3,266 | — |
| Proceeds from sale of held to maturity investments | 310 | 65,065 | 85,978 |
| Purchases of held to maturity investments | (351) | (28,351) | (80,996) |
| Cash used in investing activities - continuing operations | (13,305) | (276,172) | (7,282) |
| Cash provided by (used in) investing activities - discontinued operations | 197 | 96,060 | (499) |
| Net cash used in investing activities | (13,108) | (180,112) | (7,781) |
| Cash flows from financing activities: | |||
| Principal payments 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 | 87,333 | — |
| Treasury stock acquired from employees upon vesting or forfeiture of restricted stock | (7,043) | (5,071) | (2,685) |
| Proceeds from exercise of stock options | 466 | 2,235 | 1,069 |
| Proceeds from employee stock purchase plan | 1,311 | 989 | — |
| Cash paid for debt extinguishment | — | (1,469) | — |
| Net cash provided by (used in) financing activities | 12,270 | 278,507 | (1,616) |
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Effect of exchange rate changes on cash and cash equivalents | 136 | 857 | (3,522) |
| Net (decrease) increase in cash, cash equivalents, and cash held on behalf of customers | (27,860) | 74,006 | (29,994) |
| Cash, cash equivalents, and cash held on behalf of customers at beginning of period | 121,545 | 47,539 | 77,533 |
| Cash, cash equivalents, and cash held on behalf of customers at end of period | $93,685 | $121,545 | $47,539 |
| Reconciliation of cash, cash equivalents, and cash held on behalf of customers | |||
| Cash and cash equivalents | $79,565 | $108,117 | $37,369 |
| Cash held on behalf of customers | 14,120 | 13,428 | 10,170 |
| Total cash, cash equivalents, and cash held on behalf of customers | $93,685 | $121,545 | $47,539 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for income taxes | $5,763 | $2,323 | $3,223 |
| Capitalized software recorded in accounts payable | 56 | 31 | 38 |
| Capital expenditures in accounts payable | 210 | 76 | 139 |
| Common stock issued for acquisition | 108,182 | 133,180 | — |
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