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PAR ● ● FOR RELEASE : CONTACT : New Hartford , NY- November 9 , 2021 -- PAR Technology Corporation ( NYSE : PAR ) ( " PAR Technology " or the " Company " ) today announced its results for the third quarter ended September 30 , 2021 . ● NEW HARTFORD , NY - November 9 , 2021 Christopher R.Byrnes ( 315 ) 738-0600 ext . 6226 cbyrnes@partech.com , www.partech.com Summary of Fiscal 2021 Third Quarter Revenues were reported at $ 77.9 million for the third quarter of 2021 , a 42.0 % increase compared to $ 54.8 million for the same period in 2020. Punchh contributed $ 9.7 million of revenue for the third quarter of 2021 . Net loss for the third quarter of 2021 was $ 31.9 million , or $ 1.23 loss per share , compared to a net loss of $ 3.7 million , or $ 0.20 loss per share reported for the same period in 2020 . EBITDA for the third quarter of 2021 was a loss of $ 20.4 million compared to EBITDA of $ 0.9 million for the same period in 2020 . ** ● PAR TECHNOLOGY CORPORATION ANNOUNCES 2021 THIRD QUARTER RESULTS Total revenues increase 42.0 % from Q3 '20 - aided by the Punchh acquisition Software Annual Recurring Revenues ( ARR ) * grew to $ 82.5 million - a 164 % increase from the $ 31.3 million reported in Q3 '20 - aided by the Punchh acquisition Largest Brink POS Activations † quarter in PAR history Adjusted EBITDA for the third quarter of 2021 was a loss of $ 4.0 million compared to Adjusted EBITDA of $ 0.1 million for the same period in 2020 . ** Summary of Year - to - Date Financial Results Revenues were reported at $ 201.3 million for the nine months ended September 30 , 2021 , an increase of 29.6 % when compared to $ 155.3 million for the same period in 2020. Punchh contributed $ 17.8 million of revenue in 2021 . Adjusted net loss for the third quarter of 2021 was $ 9.3 million , or $ 0.36 adjusted net loss per share , compared to an adjusted net loss of $ 2.4 million , or $ 0.11 adjusted net loss per share , for the same period in 2020 . ** Net loss for the September 30 , 2021 September 30 , 2021 was $ 50.2 million , or $ 2.05 loss per share , compared to a net loss of $ 23.6 million , or $ 1.30 loss per share reported for the same period in 2020 . EBITDA for the nine months ended September 30 , 2021 was a loss of $ 34.9 million compared to an EBITDA loss of $ 14.6 million for the same period in 2020 . ** Adjusted EBITDA for the nine months ended September 30 , 2021 was a loss of $ 12.9 million compared to an Adjusted EBITDA loss of $ 3.8 million for the same period in 2020 . ** Adjusted net loss for the nine months ended September 30 , 2021 was $ 26.0 million , or $ 1.06 adjusted net loss per share , compared to an adjusted net loss of $ 10.9 million , or $ 0.59 adjusted net loss per share , for the same period in 2020 . ** * Annualized Recurring Revenue ( " ARR " ) , is an operating metric that represents the annualized revenue from SaaS and related revenue of our software products . We calculate ARR by annualizing the monthly recurring revenue for all active sites as of the last day of each month for the respective reporting period . ARR also includes recurring payment processing services revenue , net of expenses . We charge a per - transaction fee each time a customer payment is processed electronically . Operating metrics do not