Independent equity research reports across 100+ public software companies, built for investing in great software to earn high returns. Ratings and research summaries stay free for everyone. Full Access unlocks the full research reports, the archive and the CSV export.
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PAR Technology Corporation (PAR) operates in FinTech & Vertical SaaS within our 130-company software coverage universe. PAR's Golden Door Quality Rating, 4-pillar universe percentile ranks, and archived equity research are unlocked with Full Access. Ratings and research summaries stay free for everyone.
$PAR lifted organic recurring revenue 13.3% while its organic site count fell 3.1%, so price and add-on modules did all of the work. Owners kept -$41.71M of cash over the last twelve months after stock pay, net debt is $337.94M, and the market value of $930.43M already assumes an owner cash margin PAR has not reported in any recent year.
Across the 130 public software companies in the Golden Door ranked universe, median 1-year lagged R&D payback is $0.48 per dollar spent, and 118 of 130 fail to clear $1.00. Separating Compounders (31) and Harvesters (34) from Burners (34) and Faders (31) shows where engineering budgets buy durable gross profit, and the finding holds on the latest quarters.
Across our SEC-covered software universe, GAAP R&D alone misses capitalized internal software payroll and front-loaded infrastructure CapEx. Applying our Full CapEx Test shifts median payback from $0.48 to $0.41 per dollar invested, separating clean expensers like PLTR ($2.66, 0.98x) and KVYO ($0.80, 0.93x) from heavy CapEx balance sheets like MSFT ($0.33, 0.33x) and ORCL ($0.12, 0.32x).
Cellebrite sells sticky forensics software to police and agencies, but owner cash fell to $1.7M in the first half while SUNCORPORATION, part-owned by the chairman's firm, keeps control.
Multi-year licenses booked upfront added $2.3M to OneSpan's third quarter. Underneath, the authentication business lost profit this year while Digital Agreements lifted operating income 84.5% to $19.2M in nine months.
Microsoft booked $10.0B of revenue from OpenAI in the September quarter, 10.84% of the company total, up from 7.26% across fiscal 2026. Cash capex doubled to $39.37B and free cash flow fell 27%. The superintelligence buildout is real, and a growing share of it is sold to a related party.
ServiceNow's third quarter tests a question we parked: will superintelligence agents replace the seats software companies charge for? On this print, no. Agents are adding dollars on top of seats, renewals held at 98%, and the CFO says customers are not asking for outcome pricing.
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| FinTech & Vertical SaaS · 2026-06 | Locked | Locked | Locked | Locked | Locked | 2026-06 | ||
