Recent News
On September 9, 2025 PAR announced the launch of PAR® AI and Coach AI™ as the first product in a new intelligence suite designed to embed real‑time operational intelligence across POS, back‑office, loyalty, drive‑thru, and payments. On September 17, 2025 PAR introduced PAR Games™, an interactive loyalty product intended to increase guest engagement without heavy discounting. On October 16, 2025 PAR disclosed a customer win: Layne’s Chicken Fingers selected PAR Engagement to power loyalty and digital ordering as the brand scales.
Technical Analysis
Directional indicators present mixed directional pressure. ADX at 48.82 registers a very strong trend strength, while DI+ sits at 10.3 and shows a peak & reversal, which reads as bearish; DI- at 26.12 trends decreasing, which reads as bullish. Given ADX magnitude, the recent DI+ peak & reversal carries outsized influence on near‑term directional bias.
MACD registers -1.86 while the signal line sits at -2.22 and the MACD trend shows increasing movement; MACD has crossed above its signal line, which constitutes a bullish momentum shift and supports a short‑term recovery narrative.
MRO at -20.45 with a peak & reversal trend indicates the price sits below the model target and implies upward pressure toward that target; the negative MRO signals potential for mean reversion toward fair value levels.
RSI reads 30.86 and trends increasing, positioning the stock near classical oversold territory while showing recent buying pressure that aligns with the MACD crossover and negative MRO signal.
Price lies below most longer moving averages: price close $35.34 under the 20‑day average $35.77, 50‑day average $41.50, and 200‑day average $58.16, which highlights medium‑to‑longer term weakness. Bollinger bands place the close near the lower band (1x lower band $34.88), indicating compression and potential for a mean‑reversion bounce. Ichimoku components (Tenkan $35.95; Kijun $38.23; Senkou A $46.75; Senkou B $56.75) show price beneath the cloud, reinforcing a longer‑term bearish regime even as short‑term momentum indicators turn constructive.
Fundamental Analysis
Revenue totaled $112,404,000 while net income registered $-21,040,000 for the period ending 2025‑06‑30. YoY net income change shows continued negative profitability. WMDST records EBIT $-18,688,000 and EBITDA $-6,273,000, producing an EBIT margin of -16.63%, down QoQ by -20.18% and down YoY by -39.13%; the company’s EBIT margin sits well below the industry peer mean of 32.20% and below the industry peer median of 19.82%.
Gross margin stands at 45.37%, up YoY by 10.69%, which supports operating leverage potential; however operating margin reads -15.40%, down YoY by -43.63% and down QoQ by -26.08%, indicating cost structure pressure that erodes operating profitability despite healthy gross margin.
Balance sheet and liquidity show $85,122,000 cash and $85,689,000 cash and short‑term investments with a current ratio of 1.70 and quick ratio 1.49; the current ratio exceeds the industry peer mean of 1.28. Total debt $400,308,000 yields a debt‑to‑assets 28.76% and debt‑to‑equity 46.59%, which remain within a manageable range given available cash but require monitoring given negative cash flow trends.
Cash flow metrics show operating cash flow $-6,627,000 and free cash flow $-8,643,000, producing a free cash flow yield of -0.36% and free cash flow decline QoQ. Cash conversion ratio reads 1.24, while cash conversion cycle sits at 41.19 days. Research & development at $20,934,000 continues investment in product development and services.
Market multiples present valuation disconnects versus current fundamentals: P/E sits at 2,170.96 driven by very low trailing earnings, price‑to‑book at 2.80, price‑to‑sales at 21.40, and an enterprise‑to‑revenue ratio around 24.20. Forward PE near 829.84 and forward EPS $0.0775 indicate low near‑term earnings expectations baked into price. WMDST values the stock as over‑valued, reflecting elevated multiples relative to earnings and current negative cash flows.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-08 |
| NEXT REPORT DATE: | 2025-11-07 |
| CASH FLOW | Begin Period Cash Flow | $ 109.7 M |
| Operating Cash Flow | $ -6.63 M | |
| Capital Expenditures | $ -2.02 M | |
| Change In Working Capital | $ -7.80 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -6.92 M | |
| End Period Cash Flow | $ 102.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 112.4 M | |
| Forward Revenue | $ -4.20 M | |
| COSTS | ||
| Cost Of Revenue | $ 61.4 M | |
| Depreciation | $ 9.0 M | |
| Depreciation and Amortization | $ 12.4 M | |
| Research and Development | $ 20.9 M | |
| Total Operating Expenses | $ 129.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 51.0 M | |
| EBITDA | $ -6.27 M | |
| EBIT | $ -18.69 M | |
| Operating Income | $ -17.31 M | |
| Interest Income | — | |
| Interest Expense | $ 1.4 M | |
| Net Interest Income | $ -1.41 M | |
| Income Before Tax | $ -20.10 M | |
| Tax Provision | $ 944.0 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ -21.04 M | |
| Net Income From Continuing Operations | $ -21.04 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | $ 0.03 | |
| EPS Difference | $ 0.00 | |
| EPS Surprise | — | |
| Forward EPS | $ 0.08 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.4 B | |
| Intangible Assets | $ 1.1 B | |
| Net Tangible Assets | $ -276.66 M | |
| Total Current Assets | $ 219.3 M | |
| Cash and Short-Term Investments | $ 85.7 M | |
| Cash | $ 85.1 M | |
| Net Receivables | $ 72.3 M | |
| Inventory | $ 27.4 M | |
| Long-Term Investments | $ 16.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 38.6 M | |
| Short-Term Debt | $ 20.0 M | |
| Total Current Liabilities | $ 128.9 M | |
| Net Debt | $ 307.7 M | |
| Total Debt | $ 400.3 M | |
| Total Liabilities | $ 532.6 M | |
| EQUITY | ||
| Total Equity | $ 859.1 M | |
| Retained Earnings | $ -325.33 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 21.17 | |
| Shares Outstanding | 40.581 M | |
| Revenue Per-Share | $ 2.77 | |
| VALUATION | Market Capitalization | $ 2.4 B |
| Enterprise Value | $ 2.7 B | |
| Enterprise Multiple | -433.659 | |
| Enterprise Multiple QoQ | 51.558 % | |
| Enterprise Multiple YoY | 265.652 % | |
| Enterprise Multiple IPRWA | high: 346.433 mean: 104.177 median: 102.408 low: -175.864 PAR: -433.659 |
|
| EV/R | 24.201 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.62 | |
| Asset To Liability | 2.613 | |
| Debt To Capital | 0.318 | |
| Debt To Assets | 0.288 | |
| Debt To Assets QoQ | -0.68 % | |
| Debt To Assets YoY | 11688.115 % | |
| Debt To Assets IPRWA | high: 1.413 median: 0.361 mean: 0.31 PAR: 0.288 low: 0.006 |
|
| Debt To Equity | 0.466 | |
| Debt To Equity QoQ | -0.779 % | |
| Debt To Equity YoY | 10537.9 % | |
| Debt To Equity IPRWA | high: 3.312 median: 1.943 mean: 1.485 PAR: 0.466 low: -1.636 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.8 | |
| Price To Book QoQ | -3.875 % | |
| Price To Book YoY | 1.96 % | |
| Price To Book IPRWA | high: 18.53 mean: 9.423 median: 8.649 PAR: 2.8 low: -6.216 |
|
| Price To Earnings (P/E) | 2170.964 | |
| Price To Earnings QoQ | -135.422 % | |
| Price To Earnings YoY | -1153.953 % | |
| Price To Earnings IPRWA | PAR: 2170.964 high: 311.81 median: 129.079 mean: 124.48 low: -161.471 |
|
| PE/G Ratio | -5.427 | |
| Price To Sales (P/S) | 21.402 | |
| Price To Sales QoQ | -10.437 % | |
| Price To Sales YoY | 3.52 % | |
| Price To Sales IPRWA | high: 62.342 PAR: 21.402 mean: 17.1 median: 14.015 low: 0.281 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 829.838 | |
| Forward PE/G | -2.075 | |
| Forward P/S | -572.729 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -1.654 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.081 | |
| Asset Turnover Ratio QoQ | 7.793 % | |
| Asset Turnover Ratio YoY | 7.123 % | |
| Asset Turnover Ratio IPRWA | high: 0.512 mean: 0.151 median: 0.148 PAR: 0.081 low: -0.019 |
|
| Receivables Turnover | 1.579 | |
| Receivables Turnover Ratio QoQ | -1.358 % | |
| Receivables Turnover Ratio YoY | 21.42 % | |
| Receivables Turnover Ratio IPRWA | high: 11.186 mean: 2.167 median: 1.875 PAR: 1.579 low: -3.771 |
|
| Inventory Turnover | 2.425 | |
| Inventory Turnover Ratio QoQ | -1.552 % | |
| Inventory Turnover Ratio YoY | 32.965 % | |
| Inventory Turnover Ratio IPRWA | high: 40.664 mean: 5.226 median: 4.398 PAR: 2.425 low: 0.378 |
|
| Days Sales Outstanding (DSO) | 57.776 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 41.185 | |
| Cash Conversion Cycle Days QoQ | 2.154 % | |
| Cash Conversion Cycle Days YoY | -29.393 % | |
| Cash Conversion Cycle Days IPRWA | high: 285.691 PAR: 41.185 mean: 3.777 median: -2.385 low: -88.603 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.244 | |
| CapEx To Revenue | -0.018 | |
| CapEx To Depreciation | -0.223 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.2 B | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ -276.66 M | |
| Net Working Capital | $ 90.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.665 | |
| Current Ratio | 1.701 | |
| Current Ratio QoQ | -16.853 % | |
| Current Ratio YoY | -45.488 % | |
| Current Ratio IPRWA | high: 8.192 PAR: 1.701 mean: 1.283 median: 1.163 low: 0.102 |
|
| Quick Ratio | 1.488 | |
| Quick Ratio QoQ | -18.668 % | |
| Quick Ratio YoY | -46.806 % | |
| Quick Ratio IPRWA | high: 5.956 PAR: 1.488 mean: 0.929 median: 0.875 low: 0.091 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -63.814 | |
| Cost Of Debt | 0.278 % | |
| Interest Coverage Ratio | -13.273 | |
| Interest Coverage Ratio QoQ | 0.257 % | |
| Interest Coverage Ratio YoY | 1.357 % | |
| Interest Coverage Ratio IPRWA | high: 93.455 mean: 28.95 median: 24.959 PAR: -13.273 low: -85.699 |
|
| Operating Cash Flow Ratio | -0.068 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 58.217 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.738 % | |
| Revenue Growth | 8.228 % | |
| Revenue Growth QoQ | -854.17 % | |
| Revenue Growth YoY | -131.741 % | |
| Revenue Growth IPRWA | high: 48.984 % median: 11.911 % mean: 10.454 % PAR: 8.228 % low: -36.33 % |
|
| Earnings Growth | -400.0 % | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | 1007.696 % | |
| Earnings Growth IPRWA | high: 200.0 % mean: 20.198 % median: 11.26 % low: -261.224 % PAR: -400.0 % |
|
| MARGINS | ||
| Gross Margin | 45.365 % | |
| Gross Margin QoQ | -2.537 % | |
| Gross Margin YoY | 10.692 % | |
| Gross Margin IPRWA | high: 91.59 % median: 75.664 % mean: 63.96 % PAR: 45.365 % low: -33.394 % |
|
| EBIT Margin | -16.626 % | |
| EBIT Margin QoQ | -20.175 % | |
| EBIT Margin YoY | -39.128 % | |
| EBIT Margin IPRWA | high: 78.825 % mean: 32.204 % median: 19.824 % PAR: -16.626 % low: -140.483 % |
|
| Return On Sales (ROS) | -15.397 % | |
| Return On Sales QoQ | -26.075 % | |
| Return On Sales YoY | -43.628 % | |
| Return On Sales IPRWA | high: 72.429 % mean: 30.819 % median: 18.71 % PAR: -15.397 % low: -141.554 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -8.64 M | |
| Free Cash Flow Yield | -0.359 % | |
| Free Cash Flow Yield QoQ | -52.387 % | |
| Free Cash Flow Yield YoY | -62.565 % | |
| Free Cash Flow Yield IPRWA | high: 15.392 % median: 0.849 % mean: 0.645 % PAR: -0.359 % low: -24.314 % |
|
| Free Cash Growth | -53.835 % | |
| Free Cash Growth QoQ | -96.289 % | |
| Free Cash Growth YoY | 41.481 % | |
| Free Cash Growth IPRWA | high: 457.143 % mean: 10.151 % median: -6.308 % PAR: -53.835 % low: -552.123 % |
|
| Free Cash To Net Income | 0.411 | |
| Cash Flow Margin | -7.803 % | |
| Cash Flow To Earnings | 0.417 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.517 % | |
| Return On Assets QoQ | -13.953 % | |
| Return On Assets YoY | -128.912 % | |
| Return On Assets IPRWA | high: 14.526 % mean: 3.98 % median: 1.79 % PAR: -1.517 % low: -14.505 % |
|
| Return On Capital Employed (ROCE) | -1.48 % | |
| Return On Equity (ROE) | -0.024 | |
| Return On Equity QoQ | -14.311 % | |
| Return On Equity YoY | -126.588 % | |
| Return On Equity IPRWA | high: 0.169 median: 0.044 mean: 0.038 PAR: -0.024 low: -0.381 |
|
| DuPont ROE | -2.459 % | |
| Return On Invested Capital (ROIC) | -1.179 % | |
| Return On Invested Capital QoQ | -14.13 % | |
| Return On Invested Capital YoY | -109.78 % | |
| Return On Invested Capital IPRWA | high: 14.374 % mean: 7.25 % median: 4.251 % PAR: -1.179 % low: -16.5 % |
|