NYSE: PAR CEO Savneet Singh Shares How He Great from $200m/yr to $400m/yr
Savneet Singh, CEO of Par Tech (NYSE: PAR), shares the incredible journey of transforming the company from a hardware-focused business into a leading SaaS platform for the restaurant industry. Under Singh's leadership, Par Tech has doubled its revenue since 2018, shifting its core from hardware sales to high-margin software solutions, resulting in rapid growth and profitability. He delves into strategic acquisitions, product evolution, operational efficiency, and his philosophy on capital allocation, offering invaluable insights for entrepreneurs and investors alike. Savneet also provides advice on scaling, market valuation, and the challenges of running a public SaaS company in today’s economic climate.
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Timestamps:
0:00 - Introduction & Company Overview
1:10 - Revenue Growth vs. Market Valuation
2:30 - Savneet Singh’s Journey to Becoming CEO
3:50 - The Shift from Hardware to Software Focus
5:20 - Overview of Core SaaS Offerings
6:40 - Key Acquisitions and Strategic Integration
8:10 - Achieving Profitability and Operational Efficiency
9:30 - Selling the Defense Business: A Turning Point
11:00 - Capital Allocation and Growth Strategy
12:30 - Revenue Breakdown: Hardware, Software, and Services
14:00 - Subscription Services as the Growth Driver
15:30 - Efficient Sales and Marketing Execution
17:00 - Advice on Valuation and Market Expectations
18:20 - Future Plans and Product Roadmap
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By the numbers.
See charts and graphs here: https://getlatka.com/companies/partech.com
Founded in 1968.
$400m in revenue in 2024.
48% increase in revenue from Q2 2023.
67% increase in gross margin from Q2 2023.
$7.9m increase in Adjusted EBITDA from Q2 2023.
$5.9m increase in Adjusted EBITDA from Q1 2024.
57% increase in ARR from Q2 2023.
1,768 employees.
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