Recent News
On September 17, 2025 PAR Technology announced the launch of PAR Games, an interactive, behavior-driven loyalty product integrated with Punchh that delivers cross-channel, app-less gameplay and zero‑party data capture for brands.
Technical Analysis
ADX / DI+ / DI-: ADX registers 47.5, indicating a very strong trend in play. DI+ at 10.99 shows a decreasing trajectory; DI- at 39.26 shows a dip-and-reversal. Both DI signals read as bearish directional pressure against the stock’s valuation, reinforcing near-term downside bias.
MACD: MACD equals -3.41 with a peak-and-reversal trend and a signal line at -3.35; MACD sits below its signal line, indicating bearish momentum and confirming the DI-driven price pressure.
MRO (Momentum/Regression Oscillator): MRO stands at -18.32 with a peak-and-reversal trend. The negative MRO implies price sits below the model target and suggests mean-reversion potential that could produce upward pressure if momentum eases.
RSI and Overbought/Oversold Bands: RSI at 31.5 with a decreasing trend sits near oversold thresholds, supporting the MRO view of possible short-term mean reversion. Price at $39.88 trades below the 20‑day average ($42.89), the 50‑day average ($52.58) and the 200‑day average ($62.83); the close lies under the 1x lower Bollinger band ($40.56) but above the 2x lower band ($38.24), consistent with stretched intraday downside but not an extreme structural breakout lower.
Moving averages, EMA and volume: The 12‑day EMA (price12dayEMA $42.55) shows a decreasing trend while price remains below major moving averages and below the super trend upper level ($43.48), confirming short-term downward pressure. Daily volume (617,911) trails the 10‑day average (917,884) but exceeds the 200‑day average (548,676), indicating episodic trading interest without sustained higher-volume conviction.
Fundamental Analysis
Revenue and margins: Total revenue for the period registers at $112,404,000. Gross margin equals 45.37%, a YoY increase of 10.69 percentage points. Operating margin stands at -15.40% with an operating margin YoY change of -43.63 percentage points; EBIT equals -$18,688,000 and EBITDA equals -$6,273,000, evidencing continued operating losses despite gross-margin expansion.
Profitability and cash flow: Net income equals -$21,040,000. Operating cash flow registers at -$6,627,000 and free cash flow at -$8,643,000; free cash flow yield equals -0.36% and free cash flow contracted versus prior periods. Cash and short‑term investments total $85,689,000, providing a liquidity buffer against the current negative free cash flow.
Leverage and liquidity: Total debt equals $400,308,000 with net debt of $307,726,000. Debt‑to‑assets equals 28.76% and debt‑to‑equity equals 46.59%. Current ratio equals 1.70 and quick ratio equals 1.49, both above typical minimum coverage thresholds and above the industry peer mean current ratio of 1.28106, signaling adequate short‑term liquidity against working capital needs.
Efficiency and returns: Asset turnover registers at 0.08106, below the industry peer mean of 0.15085, indicating lower revenue generation per asset dollar. Return on equity equals -2.45% and return on assets equals -1.52%, reflecting negative profitability though the company shows revenue growth ($112.4M) alongside investments in subscription services and engagement products.
Valuation: WMDST values the stock as over‑valued. Market multiples include an EV/Revenue ratio (EVR) of 24.20, a price‑to‑book ratio of 2.80, a trailing PE around 2,170.96 and a forward PE near 829.84; those multiples coexist with negative GAAP earnings and material debt, supporting the WMDST over‑valuation assessment.
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: 438.758 mean: 104.536 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: 1.273 median: 0.361 mean: 0.323 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: 3.549 median: 1.943 mean: 1.554 PAR: 0.466 low: -1.532 |
|
| 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: 9.449 median: 8.649 PAR: 2.8 low: -5.086 |
|
| 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: 124.483 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: 63.641 median: 63.007 mean: 41.166 PAR: 21.402 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: 0.467 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: 8.91 mean: 2.007 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: 5.259 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: 283.19 PAR: 41.185 mean: 3.71 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: 1.281 median: 1.163 low: 0.102 |
|
| Quick Ratio | 1.488 | |
| Quick Ratio QoQ | -18.668 % | |
| Quick Ratio YoY | -46.806 % | |
| Quick Ratio IPRWA | high: 4.929 PAR: 1.488 mean: 0.927 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: 29.046 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: 10.337 % 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: 20.136 % 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: 64.11 % PAR: 45.365 % low: -33.394 % |
|
| EBIT Margin | -16.626 % | |
| EBIT Margin QoQ | -20.175 % | |
| EBIT Margin YoY | -39.128 % | |
| EBIT Margin IPRWA | high: 148.021 % mean: 32.869 % median: 20.252 % PAR: -16.626 % low: -150.653 % |
|
| 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: 30.931 % 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: 0.659 % 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: 10.742 % 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: 3.993 % median: 1.79 % PAR: -1.517 % low: -21.443 % |
|
| 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: 0.051 mean: 0.039 PAR: -0.024 low: -0.399 |
|
| 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: 7.299 % median: 4.251 % PAR: -1.179 % low: -16.5 % |
|