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Summary of Significant Accounting Policies | 9 Months Ended
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Sep. 30, 2025
Accounting Policies [Abstract] |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Nature of Business The Company, through its consolidated subsidiaries, operates in one segment, Restaurant/Retail. Refer to "Note 12 - Segment and Related Information" for further detail on our segment. The Restaurant/Retail segment provides leading omnichannel cloud-based software and hardware solutions to the restaurant and retail industries. Our product and service offerings include point-of-sale, customer engagement and loyalty, digital ordering and delivery, operational intelligence, payment processing, hardware, and related technologies, solutions, and services. We provide enterprise restaurants, franchisees, and other foodservice outlets with operational efficiencies through a data-driven network with integration capabilities from front- and back-of-house to customer fulfillment. Our subscription services are grouped into two product lines: Engagement Cloud, which includes PAR Engagement — a unified suite that combines Punchh and PAR Ordering solutions — for customer loyalty, engagement, and omnichannel digital ordering and delivery; Plexure, for international customer loyalty and engagement; and PAR Retail (including GoSkip), which provides customer loyalty and engagement solutions for convenience and fuel retailers; and Operator Cloud, which includes PAR POS and TASK for front-of-house, PAR Pay for payments, and PAR OPS — a suite of back-of-house solutions that combines Delaget and Data Central product offerings. The accompanying condensed consolidated financial statements include the Company's accounts and those of its consolidated subsidiaries. All intercompany transactions have been eliminated in consolidation. Basis of Presentation The accompanying financial statements of PAR Technology Corporation and its consolidated subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and the instructions to Form 10-Q and Regulation S-X pertaining to interim financial statements as promulgated by the SEC. In the opinion of management, the Company's financial statements include all normal and recurring adjustments necessary in order to make the financial statements not misleading and to provide a fair presentation of the Company's financial results for the interim period included in this Quarterly Report. Interim results are not necessarily indicative of results for the full year or any future periods. The information included in this Quarterly Report should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “2024 Annual Report”). The results of operations of the Company's Government segment are reported as discontinued operations in the condensed consolidated statements of operations for all periods presented. All results and information in the condensed consolidated financial statements are presented as continuing operations and exclude the Government segment unless otherwise noted specifically as discontinued operations. Use of Estimates The preparation of the financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to these estimates and assumptions include revenue recognition, stock-based compensation, the recognition and measurement of assets acquired and liabilities assumed in business combinations and asset acquisitions at fair value, identifiable intangible assets and goodwill, valuation allowances for receivables, classification of discontinued operations, valuation of excess and obsolete inventories, and measurement of contingent consideration at fair value. Actual results could differ from those estimates. Cash and Cash Equivalents and Cash Held on Behalf of Customers Cash and cash equivalents and cash held on behalf of customers consist of the following:
(in thousands) | September 30, 2025 |  | December 31, 2024
Cash and cash equivalents |  |  |
Cash | $ | 90,305 |  |  | $ | 105,956 |
Money market funds | 2,160 |  |  | 2,161 |
Cash held on behalf of customers | 14,428 |  |  | 13,428 |
Total cash and cash equivalents and cash held on behalf of customers | $ | 106,893 |  |  | $ | 121,545 |
The Company maintained bank balances that, at times, exceeded the federally insured limit during the nine months ended September 30, 2025. The Company did not experience losses relating to these deposits and management does not believe that the Company is exposed to any significant credit risk with respect to these amounts. Short-Term Investments The carrying value of investment securities consists of the following:
(in thousands) | September 30, 2025 |  | December 31, 2024
Short-term investments |  |  |
Short-term deposits | $ | 541 |  |  | $ | 524 |
Total short-term investments | $ | 541 |  |  | $ | 524 |
The Company did not have any material gains or losses on these securities during the nine months ended September 30, 2025. The estimated fair value of these securities approximated their carrying value as of September 30, 2025 and December 31, 2024. Other Current Assets and Other Assets Other current assets include deferred implementation costs of $3.5 million and zero, deferred commissions of $2.3 million and zero, and prepaid expenses of $15.7 million and $12.1 million at September 30, 2025 and December 31, 2024, respectively. Other assets include deferred implementation costs of $2.7 million and $7.3 million and deferred commissions of $2.5 million and $3.3 million at September 30, 2025 and December 31, 2024, respectively. The following table summarizes amortization expense for deferred implementation costs and deferred commissions:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Amortization of deferred implementation costs |  | $ | 1,166 |  |  | $ | 1,569 |  |  | $ | 3,769 |  |  | $ | 4,612 |
Amortization of deferred commissions |  | 606 |  |  | 430 |  |  | 1,527 |  |  | 1,235 |
Other Long-Term Liabilities Other long-term liabilities include deferred tax liabilities of $20.7 million and $18.7 million at September 30, 2025 and December 31, 2024, respectively. Accounting Pronouncements Not Yet Adopted In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which updates the accounting for internal-use software by enhancing disclosure requirements and replacing the previous stage-based guidance with a principles-based framework. The ASU removes all references to distinct development stages and requires entities to begin capitalizing software costs once (i) management has authorized and committed funding for the project, and (ii) it is probable that the software will be completed and used for its intended purpose. The amendments in this update are effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures.

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- Definition The entire disclosure for all significant accounting policies of the reporting entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/235/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483426/235-10-50-1 + Details
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