PAR Technology Corporation (PAR): A Bull Case Theory 

We came across a bullish thesis on PAR Technology Corporation on Value Investing subreddit by Fluffy_Scheme9321. In this article, we will summarize the bulls’ thesis on PAR. PAR Technology Corporation’s share was trading at $39.9 as of September 25th.

PAR is a company that has transformed dramatically over the last seven years, evolving from its origins as a defense hardware provider into a cloud-focused solutions company serving the food industry. Its transformation has been supported by strategic acquisitions that allow it to offer a unified experience spanning point-of-sale (PoS), payments, and commerce, creating high switching costs and a sticky customer base.

While the company has posted net losses during this rapid shift, the trajectory of improvement is notable, with losses shrinking from $70 million in 2023 to just $5 million in 2024, alongside strong year-over-year revenue growth. This indicates that PAR is successfully navigating the challenges of transformation while positioning itself for profitable growth, even if near-term profitability remains technically speculative.

The company’s balance sheet is robust, with assets exceeding liabilities and including both acquired businesses (goodwill) and $200 million in cash, providing flexibility to support growth initiatives or absorb operational volatility. PAR benefits from structural advantages in its market, particularly high integration costs for customers and pricing power derived from its unified platform, which strengthens both retention and revenue potential. Despite historical volatility in earnings, the current entry point provides a meaningful margin of safety, reflecting the market’s underappreciation of its long-term value.

Overall, PAR represents a compelling investment opportunity as a company with proven adaptive management, strong underlying economics, and a clear path to profitability. The combination of strategic acquisitions, recurring revenue from integrated solutions, improving financials, and significant operational leverage positions PAR for substantial upside while limiting downside risk for investors who recognize its transformation story and long-term potential.

Previously we covered a bullish thesis on Paylocity Holding Corporation (PCTY) by Francesco Ferrari in April 2025, which highlighted the company’s strong long-term performance, low volatility, and consistent revenue growth. The company’s stock price has depreciated approximately by 10.96% since our coverage due to market volatility. The thesis still stands as PCTY maintains robust fundamentals. Fluffy_Scheme9321 shares a similar perspective but emphasizes PAR’s transformation to cloud-based food industry solutions.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy NOW 

Disclosure: None.