PAR Technology Corporation (NYSE: PAR) announced its financial results for the fourth quarter and full year 2024, highlighting significant revenue growth and operational milestones.

Key financial highlights include:
- Annual Recurring Revenue (ARR) grew to $276.0 million, a 102% increase, with 21% organic growth from the previous year.
- Quarterly subscription service revenues increased 95% year-over-year, with 25% organic growth.
- Total revenue for Q4 2024 reached $105.0 million, a 50.2% increase from Q4 2023.
- The company reported a net loss from continuing operations of $25.3 million in Q4, compared to a $21.5 million loss in Q4 2023.
- Adjusted EBITDA improved to $5.8 million in Q4 2024, compared to a loss of $7.4 million in Q4 2023.
- Full-year 2024 revenue was $350.0 million, a 26.5% increase from $276.7 million in 2023.
- Full-year net loss from continuing operations was $89.9 million, compared to $81.6 million in 2023.

Operational highlights:
- PAR acquired Delaget, LLC, a provider of restaurant analytics and business intelligence solutions.
- Engagement Cloud ARR (including Punchh, PAR Retail, and PAR Ordering) reached $159.1 million, while Operator Cloud ARR (including PAR POS, PAR Payment Services, and TASK) was $116.8 million.
- The company reported continued improvement in subscription service gross margins.

CEO Savneet Singh emphasized PAR's strong performance, calling 2024 a "milestone year" and highlighting continued confidence in the company's long-term growth.

PAR Technology will hold an earnings call on February 28, 2025, at 9:00 a.m. (Eastern), which can be accessed via its investor relations website.

For further details, the full earnings release and financial statements are available on PAR Technology’s website.