PAR Technology Corporation announced its financial results for the fourth quarter and full year ended December 31, 2024, on February 28, 2025. For Q4 2024, total revenues reached $105.0 million, a significant 50.2% increase year-over-year from $69.9 million in Q4 2023.
The company reported its second consecutive quarter of positive adjusted EBITDA, reaching $5.8 million in Q4 2024, a substantial improvement from a loss of $(7.4) million in the prior year quarter. This trend validates the company's 'better together' thesis and its ability to drive operating leverage.
Organic Annual Recurring Revenue (ARR) grew by 21% year-over-year in Q4 2024, demonstrating strong underlying business momentum. For the full year 2024, total revenues were $350.0 million, up 26.5% from $276.7 million in 2023, with full-year adjusted EBITDA improving to $(6.4) million from $(38.4) million in 2023.
Despite the positive adjusted EBITDA, the GAAP net loss from continuing operations for Q4 2024 was $(25.3) million, compared to $(21.5) million in Q4 2023. The diluted net loss per share from continuing operations on a GAAP basis was $(0.68), an improvement from $(0.77) in the prior year quarter, while non-GAAP diluted net loss per share was $(0.00).
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