Par Technology (PAR) is on Track for $225M Gross Profit and $90M EBITDA in 2026

In its fourth-quarter 2025 capitalist letter, Immersion Investment Partners highlighted PAR Technology Corporation (NYSE:PAR). PAR Technology Corporation (NYSE:PAR) is simply a starring exertion institution that offers cloud-based hardware and bundle solutions to the edifice and retail industries. On February 3, 2026, PAR Technology Corporation (NYSE:PAR) banal closed astatine $22.75 per share. One-month instrumentality of PAR Technology Corporation (NYSE:PAR) was -34.55%, and its shares mislaid 68.53% of their worth implicit the past 52 weeks. PAR Technology Corporation (NYSE:PAR) has a marketplace capitalization of astir $923.446 million.

Immersion Investment Partners stated the pursuing regarding PAR Technology Corporation (NYSE:PAR) successful its 4th fourth 2025 capitalist letter:

"PAR Technology Corporation (NYSE:PAR) – Ugly Duckling) merits immoderate discussion. The sanction was archetypal disclosed successful our 2Q 2024 missive and we’ve held it continuously since then, absent tax-loss harvesting income successful the quarter. PAR had what tin lone beryllium described arsenic a disastrous 2025, with the banal down 50% connected an wide alteration successful bundle valuation multiples, particularly payments/point-of-sale adjacent stocks, and a deceleration of top-line growth. A important operator of the deceleration was a hold successful Burger King’s point-of-sale rollout due to the fact that BK decided astatine the 11th hr to adhd connected a PAR back-office bundle merchandise to its point-of-sale deployment. This caused a hold successful PAR’s yearly recurring gross (ARR) maturation successful the archetypal fractional of the year, starring to ARR maturation of 15% exiting Q3 vs. antecedently targeted 20%. The shortsightedness down the market’s absorption cannot beryllium overstated. A PAR lawsuit wanted to bargain much product, frankincense the banal went down 50%. Meanwhile, the institution has continued winning deals crossed its merchandise portfolio, including Papa John’s, which volition utilize respective PAR products crossed its 3,200 U.S. locations, contributing $15 cardinal successful ARR erstwhile afloat deployed. The stock’s marketplace capitalization contiguous is backmost to precocious 2020 levels. Since then, PAR has grown ARR per stock fourfold, done a operation of 15%+ yearly integrated bundle maturation and M&A that has expanded the merchandise portfolio and improved worth for customers. Gross nett has besides accrued fourfold, contempt divesting a ample concern successful 2024. Perhaps unsurprisingly, the marketplace has not granted the institution immoderate recognition arsenic absorption elected to determination backmost astir 100% of maturation successful gross borderline dollars into operating expenses (SG&A, R&D, etc.) to proceed to substance the concern agelong term. Despite that, the institution is inactive connected way to conscionable our 2026 gross nett and EBITDA targets that we laid retired successful our archetypal missive of $225 cardinal and $90 million, respectively. We can’t beryllium much emphatic astir the information that determination is thing incorrect with this business. Management’s strategy and patience to physique durability into the concern via M&A and R&D investments is retired of sync with marketplace trends. When ARR accelerates again with caller lawsuit wins, expanding ARPU (average gross per user), and the existing installation pipeline (Burger King, etc.), the marketplace volition reprice shares to a much due level."