PAR Technology Corporation
(NYSE:PAR)

PAR Technology Corporation, together with its subsidiaries, provides point-of-sale (POS) solutions to the restaurant and retail industries worldwide. The company operates in two segments, Restaurant/Retail and Government. The Restaurant/Retail segment offers POS technology solutions, including Brink...

Website: http://www.partech.com

Founded: 1968

Full Time Employees: 1,000

Sector: Technology

Industry: Software-Application

Technology

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31

revenues, net:
subscription service	78,522,000	76,094,000	74,763,000	71,903,000	68,410,000	64,262,000	59,909,000	44,872,000	38,379,000	32,897,000	31,363,000	30,372,000	27,965,000
hardware	29,254,000	27,808,000	29,895,000	26,864,000	21,843,000	26,048,000	22,650,000	20,116,000	18,226,000	24,400,000	25,824,000	26,390,000	26,777,000
professional service	16,197,000	16,199,000	14,525,000	13,637,000	13,606,000	14,695,000	14,195,000	13,162,000	13,468,000	12,603,000	11,514,000	12,767,000	13,842,000
total revenues	123,973,000	120,101,000	119,183,000	112,404,000	103,859,000	105,005,000	96,754,000	78,150,000	105,497,000	107,708,000	107,134,000	100,544,000	100,437,000	97,650,000	92,767,000	85,093,000	80,285,000	81,599,000	77,860,000
yoy	19.37%	14.38%	23.18%	43.83%	-1.55%	-2.51%	-9.69%	-22.27%	5.04%	10.30%	15.49%	18.16%	25.10%	19.67%	19.15%
qoq	3.22%	0.77%	6.03%	8.23%	-1.09%	8.53%	23.81%	-25.92%	-2.05%	0.54%	6.55%	0.11%	2.85%	5.26%	9.02%	5.99%	-1.61%	4.80%
cost of sales:
total cost of sales	69,472,000	70,624,000	69,968,000	61,412,000	55,517,000	59,998,000	53,723,000	46,122,000	76,934,000	81,307,000	78,948,000	80,014,000	77,244,000	71,499,000	71,359,000	63,972,000	59,672,000	62,995,000	59,646,000
gross margin	54,501,000	49,477,000	49,215,000	50,992,000	48,342,000	45,007,000	43,031,000	32,028,000	28,563,000	26,401,000	28,186,000	20,530,000	23,193,000	26,151,000	21,408,000	21,121,000	20,613,000	18,604,000	18,214,000	15,103,000	10,200,000	7,528,000	11,671,000	9,079,000	11,047,000	10,900,000	9,237,000	8,573,000	9,764,000	6,718,000	8,538,000	11,360,000	11,847,000	12,605,000	9,367,000	10,445,000	15,661,000	12,546,000	12,600,000	10,445,000	10,609,000		11,153,000	14,527,000	12,989,000		12,355,000	13,459,000	12,013,000	13,851,000	14,012,000	13,459,000	13,170,000	9,878,000	14,012,000	11,987,000	15,068,000	13,059,000	15,251,000	7,237,000	14,915,000	17,376,000	16,073,000	15,089,000	14,091,000
yoy	12.74%	9.93%	14.37%	59.21%	69.25%	70.47%	52.67%	56.01%	23.15%	0.96%	31.66%	-2.80%	12.52%	40.57%	17.54%	39.85%	102.09%	147.13%	56.06%	66.35%	-7.67%	-30.94%	26.35%	5.90%	13.14%	62.25%	8.19%	-24.53%	-17.58%	-46.70%	-8.85%	8.76%	-24.35%	0.47%	-25.66%	0.00%	47.62%		12.97%	-28.10%	-18.32%		-9.73%	7.94%	8.12%		-11.83%	0.00%	-8.79%	40.22%	0.00%	12.28%	-12.60%	-24.36%	-8.12%	65.63%	1.03%	-24.84%	-5.11%	-52.04%	5.85%
qoq	10.15%	0.53%	-3.48%	5.48%	7.41%	4.59%	34.35%	12.13%	8.19%	-6.33%	37.29%	-11.48%	-11.31%	22.16%	1.36%	2.46%	10.80%	2.14%	20.60%	48.07%	35.49%	-35.50%	28.55%	-17.81%	1.35%	18.00%	7.75%	-12.20%	45.34%	-21.32%	-24.84%	-4.11%	-6.01%	34.57%	-10.32%	-33.31%	24.83%	-0.43%	20.63%	-1.55%			-23.23%	11.84%			-8.20%	12.04%	-13.27%	-1.15%	4.11%	2.19%	33.33%	-29.50%	16.89%	-20.45%	15.38%	-14.37%	110.74%	-51.48%	-14.16%	8.11%	6.52%	7.08%
gross margin %	43.96%	41.20%	41.29%	45.36%	46.55%	42.86%	44.47%	40.98%	27.07%	24.51%	26.31%	20.42%	23.09%	26.78%	23.08%	24.82%	25.67%	22.80%	23.39%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
operating expenses:
sales and marketing	12,285,000	12,377,000	12,478,000	12,274,000	11,782,000	10,471,000	10,500,000	9,811,000	10,926,000
general and administrative	30,696,000	30,001,000	31,725,000	31,697,000	29,284,000	31,002,000	27,352,000	25,369,000	25,608,000
research and development	21,975,000	21,794,000	19,276,000	20,934,000	19,767,000	17,432,000	17,821,000	16,237,000	15,768,000	14,493,000	14,660,000	14,888,000	14,315,000	14,858,000	12,843,000	10,101,000	10,841,000	10,005,000	10,122,000	8,643,000	5,809,000	5,639,000	4,210,000	4,538,000	4,865,000	4,139,000	3,448,000	2,725,000	3,060,000	3,330,000	2,992,000	3,222,000	2,868,000	4,293,000	2,668,000	2,793,000	3,569,000	3,160,000	2,866,000	2,793,000	2,762,000		2,156,000	4,420,000	4,345,000		3,730,000	3,706,000	3,864,000	3,991,000	3,309,000	3,706,000	4,140,000	3,750,000	3,309,000	3,089,000	3,549,000	2,207,000	3,730,000	3,720,000	4,140,000	4,469,000	4,826,000	4,321,000	3,445,000
amortization of identifiable intangible assets	3,431,000	3,366,000	3,389,000	3,394,000	3,259,000	2,875,000	2,699,000	1,946,000	932,000	465,000	464,000	465,000	464,000	464,000	465,000	721,000	213,000	522,000	539,000	489,000	275,000	486,000	257,000	210,000	210,000	495,000	241,000	242,000	241,000	242,000	241,000	242,000	241,000	242,000	241,000	242,000	241,000	242,000	241,000	242,000	241,000			249,000	249,000						138,000			14,000	138,000	150,000	153,000	173,000	257,000	205,000	205,000	236,000	234,000	235,000	234,000
total operating expenses	68,387,000	67,538,000	66,868,000	68,299,000	64,092,000	61,432,000	58,225,000	52,763,000	53,234,000	41,406,000	41,373,000	38,183,000	37,057,000	36,832,000	39,851,000	37,220,000	33,422,000	35,380,000	32,323,000
operating income	-13,886,000	-18,061,000	-17,653,000	-17,307,000	-15,750,000	-16,425,000	-15,194,000	-20,735,000	-24,671,000	-15,005,000	-13,187,000	-17,653,000	-13,864,000	-10,681,000	-18,443,000	-16,099,000	-12,809,000	-16,776,000	-14,109,000	-16,975,000	-6,021,000	-11,775,000	-998,000	-5,718,000	-5,455,000	-2,386,250	-3,991,000	-3,453,000	-2,101,000															605,000	-669,000													-6,250,250	2,025,000	-27,688,000	662,000	1,193,000	1,018,000	752,000	872,000
yoy	-11.83%	9.96%	16.18%	-16.53%	-36.16%	9.46%	15.22%	17.46%	77.95%	40.48%	-28.50%	9.65%	8.24%	-36.33%	30.72%	-5.16%	112.74%	42.47%	1313.73%	196.87%	10.38%	393.45%	-74.99%	65.60%	159.64%																																	-623.91%	98.92%	-3781.91%	-24.08%
qoq	-23.12%	2.31%	2.00%	9.89%	-4.11%	8.10%	-26.72%	-15.95%	64.42%	13.79%	-25.30%	27.33%	29.80%	-42.09%	14.56%	25.69%	-23.65%	18.90%	-16.88%	181.93%	-48.87%	1079.86%	-82.55%	4.82%	128.60%	-40.21%	15.58%	64.35%																-190.43%														-408.65%	-107.31%	-4282.48%	-44.51%	17.19%	35.37%	-13.76%
operating margin %	-11.20%	-15.04%	-14.81%	-15.40%	-15.16%	-15.64%	-15.70%	-26.53%	-23.39%	-13.93%	-12.31%	-17.56%	-13.80%	-10.94%	-19.88%	-18.92%	-15.95%	-20.56%	-18.12%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
other income	827,000	-310,000	664,000		-91,000			-610,000	306,000			95,000																	-430,000	186,000	455,000		49,000			-210,000		1,634,000	-38,000	-210,000			-65,000	-10,000						133,000	233,000	255,000	-34,000	436,000	233,000	-366,000	573,000	309,000	23,000	-157,000	28,000	124,000	97,000	278,000	141,000
interest expense	-1,932,000	-1,548,000	-1,465,000	-1,408,000	-1,634,000	-3,412,000	-3,417,000	-1,630,000	-1,708,000	-1,779,000	-1,750,000	-1,735,000	-1,667,000	-1,757,000	-2,140,000	-2,451,000	-2,463,000	-5,644,000	-5,406,000			-1,579,500	-2,235,000	-2,111,000	-1,972,000	-1,593,000	-1,588,000	-1,244,000	-146,000	-126,000	-142,000	-78,000	-41,000	-21,000	-39,000								-21,000	-85,000	-86,000		-16,000	-13,000	-17,000	-18,000	-22,000	-13,000	-13,000	-5,000	-22,000	-21,000	-21,000	-48,000	-48,000	-67,000	-48,000	-53,000	-157,000	-71,000	-71,000
gain on extinguishment of debt	380,000
loss from continuing operations before income taxes	-14,611,000	-19,919,000	-18,454,000	-20,096,000	-23,266,000
provision for income taxes	-1,558,000									-232,500	-206,000	-409,000	-315,000				-10,000												-52,000				-78,000			-45,000	-697,000	-841,000	-253,000	-45,000	-8,000		-613,000							-225,000	62,000	253,000					-740,000				-238,000			-110,000	-360,000
net income from continuing operations	-16,169,000	-20,894,000	-18,177,000	-21,040,000	-24,547,000	-25,293,000	-20,664,000	-23,587,000																												100,000
net income from discontinued operations					197,000	4,236,000	832,000	77,777,000
net income	-16,169,000	-20,894,000	-18,177,000	-21,040,000	-24,350,000	-21,057,000	-19,832,000	54,190,000	-18,288,000	-18,629,000	-15,516,000	-19,702,000	-15,905,000	-13,481,000	-21,340,000	-18,848,000	-15,650,000	-25,639,000	-31,933,000	-9,956,000	-8,271,000	-12,965,000	-3,711,000	-8,976,000	-10,910,000	-5,831,000	-5,902,000	-1,109,000	-2,729,000	-6,163,000	-16,704,000	-1,323,000	68,000	-5,293,000	-1,517,000	74,000	1,447,000	1,175,000	518,000	74,000	15,000		-109,000	101,000	-385,000		440,000	57,000	-989,000	245,000	1,354,000	57,000	-384,000	-3,613,000	1,354,000	-521,000	2,465,000	710,000	1,202,000	-17,848,000	404,000	1,154,000	538,000	849,000	582,000
yoy	-33.60%	-0.77%	-8.35%	-138.83%	33.15%	13.03%	27.82%	-375.05%	14.98%	38.19%	-27.29%	4.53%	1.63%	-47.42%	-33.17%	89.31%	89.22%	97.76%	760.50%	10.92%	-24.19%	122.35%	-37.12%	709.38%	299.78%	-5.39%	-64.67%	-16.18%	-4113.24%	16.44%	1001.12%	-1887.84%	-95.30%	-550.47%	-392.86%	0.00%	9546.67%		-575.23%	-26.73%	-103.90%		-124.77%	77.19%	-61.07%		-67.50%	0.00%	157.55%	-106.78%	0.00%	-110.94%	-115.58%	-608.87%	12.65%	-97.08%	510.15%	-38.47%	123.42%	-2202.24%	-30.58%
qoq	-22.61%	14.95%	-13.61%	-13.59%	15.64%	6.18%	-136.60%	-396.31%	-1.83%	20.06%	-21.25%	23.87%	17.98%	-36.83%	13.22%	20.43%	-38.96%	-19.71%	220.74%	20.37%	-36.21%	249.37%	-58.66%	-17.73%	87.10%	-1.20%	432.19%	-59.36%	-55.72%	-63.10%	1162.59%	-2045.59%	-101.28%	248.91%	-2150.00%	-94.89%	23.15%	126.83%	600.00%	393.33%			-207.92%	-126.23%			671.93%	-105.76%	-503.67%	-81.91%	2275.44%	-114.84%	-89.37%	-366.84%	-359.88%	-121.14%	247.18%	-40.93%	-106.73%	-4517.82%	-64.99%	114.50%	-36.63%	45.88%
net income margin %	-13.04%	-17.40%	-15.25%	-18.72%	-23.45%	-20.05%	-20.50%	69.34%	-17.34%	-17.30%	-14.48%	-19.60%	-15.84%	-13.81%	-23.00%	-22.15%	-19.49%	-31.42%	-41.01%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	-Infinity%	Infinity%	-Infinity%	NaN%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
net income per share									-0.62	-0.67	-0.56	-0.72	-0.58	-0.49	-0.79	-0.7	-0.58	-0.97	-1.23	-0.39	-0.38									-0.28	-1.04
continuing operations	-0.39	-0.51	-0.45	-0.52	-0.61	-0.73	-0.58	-0.69
discontinued operations					0.01	0.11	0.02	2.29
total	-0.39	-0.51	-0.45	-0.52	-0.6	-0.62	-0.56	1.6
weighted-average shares outstanding	40,997	40,473	40,582	40,520	40,174	34,155	35,865	34,015	29,516	27,552	27,472	27,357	27,344	27,152	27,110	26,982	26,970	25,088	25,998	25,484	21,929	19,014
adjustment to contingent consideration liability								-600,000		-1,700,000		-2,300,000	-5,200,000									-1,030,000	-2,310,000
gain on insurance proceeds						-348,000	-147,000					-500,000									-4,400,000
loss on extinguishment of debt					-5,791,000														-11,916,000						-8,123,000
benefit from income taxes		-975,000	277,000	-944,000	-1,281,000	-1,752,000	-653,000	-612,000	7,785,000					-623,000	-578,000	-41,000		-2,871,000	37,000	12,297,000	-39,000	-1,279,000	8,000	-1,008,000	5,265,000	-354,000	78,000	3,962,000		-3,542,500	-14,355,000	263,000													599,000
other expense				-1,381,000		-427,500	-1,400,000			-152,000	-373,000		-59,000	-201,000	-179,000	-257,000	-368,000	-232,750	-539,000			-312,500	-486,000	-139,000	-625,000			-374,000						-66,000	-70,000		-248,000				-70,000				-229,000				-78,000
loss from continuing operations before benefit from income taxes						-17,784,250	-20,011,000	-22,975,000
contract									35,424,000	37,808,000	38,433,000	31,015,000	31,853,000	26,673,000	24,414,000	20,922,000	21,439,000	18,777,000	18,039,000	17,826,000	17,883,000	18,393,000	17,500,000	18,058,000	17,323,000	17,279,000	15,539,000	15,985,000	15,122,000	15,856,000	17,436,000	17,744,000	16,141,000	17,236,000	14,915,000	19,410,000	14,316,000	16,270,000	23,115,000	19,410,000	21,517,000		20,132,000	21,561,000	23,836,000		18,168,000	21,945,000	23,699,000	22,167,000	21,992,000	21,945,000	26,738,000	20,526,000	21,992,000	25,929,000	20,044,000	20,105,000	15,756,000	16,258,000	16,822,000	16,663,000	16,053,000	16,268,000	17,629,000
costs of sales:
loss before benefit from income taxes									-26,073,000									-22,768,000	-31,970,000			-11,686,000	-3,719,000	-7,968,000	-16,175,000	-3,432,000	-5,980,000	-5,071,000																	-984,000
selling, general and administrative										19,839,250	26,249,000	25,630,000	27,478,000	25,910,000	26,543,000	26,398,000	22,368,000	24,853,000	21,662,000	22,946,000	14,537,000	14,208,000	10,512,000	10,049,000	11,427,000	9,852,000	9,539,000	9,059,000	8,564,000	9,396,000	7,967,000	9,020,000	8,600,000	10,590,000	9,054,000	7,058,000	9,610,000	8,169,000	8,672,000	7,058,000	7,542,000		7,599,000	9,253,000	9,064,000		8,616,000	9,494,000	9,263,000	9,610,000	9,410,000	9,494,000	10,205,000	11,632,000	9,410,000	9,291,000	10,143,000	6,470,000	9,239,000	10,157,000	9,908,000	11,478,000	9,995,000	9,781,000	9,540,000
income before provision for income taxes										-12,548,250	-15,310,000	-19,293,000	-15,590,000	-13,802,250	-20,762,000	-18,807,000	-15,640,000			-22,253,000	-8,232,000								-2,677,000																													-6,317,500	2,000,000	-27,912,000	642,000	1,264,000	958,000	959,000	942,000
product														21,205,000	31,343,000	28,390,000	25,073,000	32,228,000	30,291,000	23,939,000	18,556,000	21,791,000	20,470,000	12,333,000	18,634,000	20,180,000	15,904,000	14,728,000	15,517,000	16,129,000	15,451,000	20,883,000	26,324,000	24,532,000	20,706,000	21,444,000	37,206,000	30,986,000	25,757,000	21,444,000	22,084,000		21,483,000	25,802,000	21,686,000		22,673,000	22,257,000	18,592,000	22,001,000	22,340,000	22,257,000	23,916,000	27,872,000	22,340,000	20,142,000	20,170,000	19,268,000	24,856,000	23,990,000	22,884,000	29,209,000	27,850,000	23,084,000	21,251,000
service														26,637,500	37,010,000	35,781,000	33,773,000	30,594,000	29,530,000	27,185,000	18,028,000	18,332,000	16,877,000	15,300,000	18,775,000	15,464,000	13,937,000	13,534,000	14,043,000	14,667,000	13,475,000	13,944,000	13,196,000	13,773,000	13,317,000	11,804,000	14,343,000	12,942,000	12,620,000	11,804,000	11,704,000		11,007,000	15,929,000	14,102,000		14,697,000	15,314,000	14,250,000	15,498,000	16,720,000	15,314,000	16,020,000	18,031,000	16,720,000	16,014,000	15,379,000	16,154,000	19,152,000	18,037,000	16,141,000	18,563,000	17,268,000	16,862,000	19,239,000
net revenues:
net revenues: - sum																				68,950,000	54,467,000	58,516,000	54,847,000	45,691,000	54,732,000	33,577,250	45,380,000	44,247,000	44,682,000	38,648,500	46,362,000	52,571,000	55,661,000	44,266,000	48,938,000	52,658,000	65,865,000	60,198,000	61,492,000	52,658,000	55,305,000		52,622,000	63,292,000	59,624,000		55,538,000	59,516,000	56,541,000	59,666,000	61,052,000	59,516,000	66,674,000	66,429,000	61,052,000	62,085,000	55,593,000			58,285,000	55,847,000			56,214,000	58,119,000
costs of sales: - sum																				53,847,000	44,267,000	50,988,000	43,176,000	36,612,000	43,685,000	26,683,750	36,143,000	35,674,000	34,918,000	30,712,250	37,824,000	41,211,000	43,814,000	34,209,750	39,571,000	42,213,000	50,204,000	47,652,000	48,892,000	42,213,000	44,696,000		41,469,000	48,765,000	46,635,000		43,183,000	46,057,000	44,528,000	45,815,000	47,040,000	46,057,000	53,504,000	56,551,000	47,040,000	50,098,000	40,525,000	42,468,000	44,513,000	51,048,000	40,932,000	47,059,000	45,098,000	41,125,000	44,028,000
operating expenses: - sum																				32,078,000	16,221,000	19,303,000	12,669,000	14,797,000	16,502,000	9,279,750	13,228,000	12,026,000	11,865,000	8,848,250	11,200,000	12,484,000	11,709,000	9,456,500	11,963,000	10,093,000	13,420,000	11,571,000	11,779,000	10,093,000	10,545,000		9,786,000	13,922,000	13,658,000		12,346,000	13,200,000	13,127,000	13,601,000	12,857,000	13,200,000	14,345,000	15,696,000	12,857,000	12,530,000	13,845,000	8,850,000	13,226,000	34,925,000	14,253,000	16,183,000	15,055,000	14,337,000	13,219,000
other expense – net																				-341,000	-51,000
interest expense – net																				-4,937,000	-2,160,000
basic earnings per share:
diluted earnings per share:
weighted-average shares outstanding:
basic																							18,250	18,244	17,941	16,223	16,300	16,290	16,044	16,041	16,071	16,330	15,948	15,949	15,976	15,615	15,781	15,675	15,770	15,615	15,646	15,562	15,577	15,584	15,596	15,501	15,405	15,171	15,499	15,240	15,131	15,171	15,154	15,115	15,131	15,098	15,083	15,000	15,031	14,996	14,924	14,822	14,879	14,800	14,702
diluted																							18,250	18,244	17,941	16,223	16,300	16,290	16,044	16,041	16,071	16,330	16,286	15,949	15,976	15,670	15,978	15,738	15,822	15,670	15,723	15,666	15,635	15,671	15,596	15,501	15,446	15,340	15,499	15,273	15,207	15,340	15,154	15,115	15,207	15,098	15,162	15,000	15,118	14,996	15,058	15,008	15,048	15,031	14,958
other (expense)																										-301,250	-401,000
weighted-average shares outstanding	40,997	40,473	40,582	40,520	40,174	34,155	35,865	34,015	29,516	27,552	27,472	27,357	27,344	27,152	27,110	26,982	26,970	25,088	25,998	25,484	21,929	19,014
basic																							18,250	18,244	17,941	16,223	16,300	16,290	16,044	16,041	16,071	16,330	15,948	15,949	15,976	15,615	15,781	15,675	15,770	15,615	15,646	15,562	15,577	15,584	15,596	15,501	15,405	15,171	15,499	15,240	15,131	15,171	15,154	15,115	15,131	15,098	15,083	15,000	15,031	14,996	14,924	14,822	14,879	14,800	14,702
diluted																							18,250	18,244	17,941	16,223	16,300	16,290	16,044	16,041	16,071	16,330	16,286	15,949	15,976	15,670	15,978	15,738	15,822	15,670	15,723	15,666	15,635	15,671	15,596	15,501	15,446	15,340	15,499	15,273	15,207	15,340	15,154	15,115	15,207	15,098	15,162	15,000	15,118	14,996	15,058	15,008	15,048	15,031	14,958
basic loss per share:
diluted loss per share:
operating income from continuing operations																														-912,000	-2,662,000	-1,124,000	138,000	-2,520,000	-2,596,000	352,000	2,241,000	975,000	821,000	352,000	64,000		1,367,000				9,000	259,000		-226,750	1,155,000	259,000	-1,175,000	458,750	1,155,000	-543,000	1,223,000
income from continuing operations before benefit from income taxes																														-947,250	-2,349,000
income from continuing operations																														-4,489,750	-16,704,000	-1,323,000	68,000	-5,334,000	-1,517,000	0.01	1,264,000	1,869,000	518,000	100,000	15,000		668,000				445,000	248,000		245,000	1,304,000	248,000	-369,000	457,000	1,304,000	-511,000	1,035,000
income from discontinued operations																																		-182,999.99			183,000															-0.01					0.09
other income																																-384,000
income from continuing operations before provision for income taxes																																-1,586,000	146,000	-1,664,000	-2,705,000	145,000	1,961,000	2,710,000	771,000	145,000	23,000		1,281,000							-144,000	1,366,000	501,000	-1,222,000	552,750	1,366,000	-930,000	1,775,000
benefits (provision) for income taxes																																		-81,750	1,188,000
interest income																																				3,000	-32,000	101,000	-12,000	3,000	29,000
(loss on) income from discontinued operations, net of tax
discontinued operation
loss on discontinued operations																																						-694,000		-26,000			-777,000				-5,000	-191,000
loss from discontinued operations																																											-0.05					-0.01
acquisition amortization																																											31,000
income before benefit from income taxes																																												510,000
(provision for) or benefit from income taxes																																												-409,000
earnings per share:
basic																																												0.01	-0.02													-0.27	0.08	-1.19	0.03	0.08	0.04	0.06	0.04
diluted																																												0.01	-0.02													-0.27	0.08	-1.19	0.03	0.08	0.04	0.06	0.04
other income net																																															152,000	255,000
income from continuing operations before benefit for income taxes																																															145,000	501,000
benefit for income taxes																																															300,000	-253,000	220,000				853,000	1,797,000	-62,000	419,000		-1,588,000	-798,000	10,064,000		-110,000	-420,000
operating loss from continuing operations																																																	-1,114,000
loss from continuing operations before benefit for income taxes																																																	-1,209,000
loss from continuing operations																																																	-989,000
income on discontinued operations																																																			50,000	-191,000	-15,000	-23,000	50,000	-10,000	1,430,000
basic earnings per share
see accompanying notes to consolidated financial statements
impairment of goodwill and intangible assets																																																												20,843,000
earnings per share
basic																																												0.01	-0.02													-0.27	0.08	-1.19	0.03	0.08	0.04	0.06	0.04
diluted																																												0.01	-0.02													-0.27	0.08	-1.19	0.03	0.08	0.04	0.06	0.04

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31

current assets:
cash and cash equivalents	77,232,000	79,565,000	92,465,000	85,122,000	91,652,000	108,117,000	105,804,000	114,928,000	50,780,000	37,369,000	43,136,000	44,162,000	48,659,000	70,328,000	89,504,000	150,600,000	163,207,000	188,419,000	200,293,000	85,218,000	173,122,000	180,686,000	55,755,000	58,775,000	60,089,000	28,036,000	46,947,000	58,661,000	4,142,000	3,485,000	5,817,000	8,678,000	5,762,000	6,600,000	1,173,000	3,282,000	5,470,000	9,055,000	2,883,000	5,374,000	5,770,000	8,024,000	2,057,000	5,136,000	5,968,000	10,167,000	10,269,000	12,953,000	10,296,000	10,015,000	10,102,000	9,587,000	14,121,000	19,475,000	18,206,000	16,895,000	14,708,000	7,742,000	3,351,000	3,688,000	4,349,000	6,781,000	4,088,000	3,943,000	5,522,000	3,907,000
cash held on behalf of customers	13,552,000	14,120,000	14,428,000	17,670,000	18,059,000	13,428,000	15,266,000	12,804,000	12,558,000	10,170,000	8,758,000	9,024,000	7,421,000	7,205,000
short-term investments	575,000	579,000	541,000	567,000	531,000	524,000	12,578,000	27,527,000	21,730,000	37,194,000	36,717,000	41,225,000	40,753,000	40,290,000	40,015,000
accounts receivable – net	87,882,000	81,706,000	70,546,000	72,332,000	70,008,000	59,726,000	60,298,000	50,203,000	69,958,000	63,382,000	66,441,000	62,894,000	66,494,000		54,845,000	60,673,000	54,571,000		48,902,000	45,248,000	38,706,000	42,980,000	40,106,000	38,236,000	42,819,000		28,563,000	25,886,000
inventories	30,927,000	27,436,000	25,437,000	27,434,000	23,217,000	21,861,000	23,915,000	25,526,000	25,054,000	23,594,000	24,193,000	26,512,000	32,454,000	37,594,000	39,707,000	42,042,000	40,930,000	35,078,000
other current assets	29,801,000	29,525,000	23,635,000	16,166,000	16,430,000	14,390,000	14,743,000	9,427,000	14,205,000	8,890,000	9,516,000	8,963,000	11,090,000	8,572,000	9,185,000	7,914,000	11,379,000	9,532,000	13,111,000	16,592,000	7,970,000	3,625,000	3,438,000	4,167,000	7,191,000	4,427,000	5,185,000	6,657,000	5,099,000	3,251,000	4,486,000	4,179,000	5,311,000	4,209,000	4,048,000	4,246,000	4,350,000	4,027,000	5,188,000	4,559,000	3,582,000	3,808,000	2,660,000	4,352,000	5,225,000	4,597,000	4,239,000	3,249,000	3,278,000	3,418,000	3,723,000	3,455,000	3,492,000	3,236,000	3,958,000	3,138,000	3,125,000	3,088,000	3,095,000	3,775,000	4,016,000	3,067,000	3,664,000	4,645,000	3,865,000	3,235,000
total current assets	239,969,000	232,931,000	227,052,000	219,291,000	219,897,000	218,046,000	232,604,000	246,797,000	194,285,000	180,599,000	188,761,000	192,780,000	206,871,000	223,949,000	233,256,000	261,229,000	270,087,000	283,007,000	296,294,000	177,005,000	245,094,000	248,929,000	126,412,000	127,170,000	133,438,000	93,563,000	103,126,000	114,114,000	61,191,000	55,692,000	62,699,000	73,023,000	69,378,000	62,632,000	60,473,000	70,180,000	73,117,000	82,024,000	82,016,000	76,065,000	72,583,000	69,602,000	84,862,000	74,474,000	76,492,000	76,643,000	76,766,000	74,910,000	75,146,000	72,333,000	79,977,000	84,272,000	84,864,000	90,638,000	84,452,000	86,142,000	82,273,000	77,010,000	82,958,000	90,377,000	95,425,000	97,943,000	98,250,000	90,792,000	91,510,000	92,916,000
property, plant and equipment – net	12,770,000	13,286,000	13,566,000	13,323,000	13,872,000	14,107,000	14,865,000	14,452,000	15,356,000	15,755,000	16,110,000	14,974,000	13,238,000		12,836,000	13,067,000	13,429,000		13,831,000	14,006,000	13,627,000	13,856,000	13,810,000	13,503,000	14,052,000		14,736,000	13,641,000	13,169,000		11,933,000	11,877,000	11,015,000		9,999,000
goodwill	897,110,000	898,035,000	898,453,000	906,361,000	890,493,000	887,459,000	803,084,000	623,875,000	619,632,000	489,654,000	487,073,000	487,647,000	487,083,000	486,762,000	485,121,000	457,433,000	457,433,000	457,306,000	459,195,000	458,773,000	41,214,000	41,214,000	41,214,000	41,214,000	41,386,000	41,386,000	13,418,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	11,051,000	17,167,000	17,167,000	17,167,000	14,157,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	6,852,000	27,146,000	26,954,000	26,762,000	26,642,000	26,827,000	26,635,000
intangible assets – net	219,711,000	203,370,000	216,985,000	229,445,000	234,057,000	237,333,000	226,051,000	148,292,000	157,713,000	94,852,000	96,562,000	101,635,000	106,204,000		116,242,000	110,483,000	114,579,000		123,057,000	130,726,000	32,652,000	33,121,000	34,247,000	34,305,000	33,103,000		13,895,000	8,555,000	11,176,000		12,567,000	12,504,000	12,418,000		12,366,000
lease right-of-use assets	9,121,000	8,176,000	8,769,000	7,332,000	7,719,000	8,221,000	7,651,000	4,740,000	3,627,000	4,083,000	4,303,000	3,996,000	3,638,000	4,061,000	2,736,000	3,478,000	3,935,000	4,348,000	4,138,000	4,779,000	2,423,000	2,569,000	2,351,000	2,445,000	2,729,000	3,017,000	2,999,000
other assets	12,464,000	13,346,000	12,549,000	15,988,000	15,511,000	15,561,000	15,019,000	17,689,000	18,300,000	17,663,000	16,400,000	15,450,000	15,268,000	16,028,000	14,550,000	13,423,000	12,233,000	11,016,000	9,877,000	12,386,000	3,665,000	4,060,000	3,767,000	4,249,000	4,274,000	4,347,000	4,395,000	4,388,000	4,764,000	4,504,000	4,546,000	4,590,000	4,391,000	4,307,000	3,842,000	3,833,000	3,861,000	3,785,000	3,806,000	3,792,000	3,780,000	3,687,000	3,641,000	3,676,000	3,158,000	3,043,000	2,893,000	2,896,000	2,832,000	2,675,000	2,614,000	2,861,000	2,605,000	2,391,000	2,392,000	2,330,000	2,338,000	2,147,000	2,074,000	2,227,000	2,196,000	2,124,000	2,010,000	1,836,000	1,896,000	1,775,000
total assets	1,391,145,000	1,369,144,000	1,377,374,000	1,391,740,000	1,381,549,000	1,380,727,000	1,299,274,000	1,056,684,000	1,008,913,000	802,606,000	809,209,000	816,482,000	832,302,000	854,858,000	864,741,000	859,113,000	871,696,000	888,149,000	906,392,000	797,675,000	338,675,000	343,749,000	221,801,000	222,886,000	228,982,000	189,612,000	152,569,000	155,072,000	105,048,000	94,681,000	102,796,000	127,215,000	122,140,000	114,624,000	114,733,000	123,207,000	125,538,000	124,511,000	124,960,000	119,103,000	118,616,000	115,312,000	128,071,000	135,481,000	136,947,000	137,297,000	137,170,000	120,748,000	120,705,000	117,508,000	112,977,000	117,582,000	117,951,000	123,765,000	121,976,000	123,003,000	119,382,000	115,943,000	119,080,000	125,860,000	143,512,000	144,285,000	143,335,000	135,003,000	136,461,000	136,103,000
liabilities and shareholders’ equity
current liabilities:
current portion of long-term debt	2,869,000	19,954,000	19,920,000	20,000,000							13,638,000	13,589,000			180,000	358,000	533,000	705,000	695,000	685,000	676,000	666,000	657,000	647,000	639,000	630,000					204,000	183,000	199,000	195,000	195,000	191,000	189,000	187,000	170,000	2,156,000	2,130,000	2,103,000	2,075,000	3,176,000	3,174,000	3,173,000	3,171,000	169,000	153,000	166,000	164,000	161,000	161,000	159,000	157,000	599,000	1,045,000	1,494,000	1,977,000	1,865,000	1,788,000	1,711,000	1,635,000	1,558,000	1,481,000	1,404,000
accounts payable	36,821,000	39,332,000	31,967,000	38,617,000	32,222,000	34,784,000	35,186,000	30,682,000	39,832,000	29,808,000	27,229,000	27,156,000	28,209,000	23,283,000	24,601,000	26,091,000	22,623,000	20,845,000	23,846,000	21,822,000	18,886,000	12,791,000	16,372,000	15,699,000	16,603,000	16,385,000	8,929,000	10,434,000	14,794,000	12,644,000	12,879,000	21,072,000	17,537,000	14,332,000	9,448,000	14,163,000	17,460,000	16,687,000	19,269,000	16,531,000	15,256,000	11,729,000	16,656,000	15,422,000	16,103,000	19,676,000	18,797,000	17,735,000	17,937,000	17,200,000	12,425,000	16,735,000	16,393,000	21,216,000	17,164,000	19,000,000	16,517,000	15,773,000	14,211,000	17,923,000	16,960,000	19,902,000	23,652,000	15,130,000	13,900,000	12,942,000
accrued salaries and benefits	16,260,000	25,186,000	20,825,000	18,450,000	12,101,000	22,487,000	17,959,000	13,954,000	14,264,000	19,141,000	15,652,000	15,366,000	11,285,000	18,936,000	17,848,000	14,344,000	12,718,000	17,265,000	14,841,000	16,225,000	10,620,000	13,190,000	9,730,000	7,538,000	6,495,000	7,769,000	7,419,000	5,700,000	5,145,000	5,940,000	6,022,000	6,153,000	5,396,000	6,275,000	5,911,000	6,411,000	5,297,000	5,470,000	5,761,000	5,864,000	5,285,000	5,727,000	5,830,000	6,376,000	5,509,000	6,429,000	6,421,000	5,962,000	5,344,000	6,663,000	6,404,000	5,746,000	6,544,000	6,397,000	6,628,000	6,392,000	6,217,000	7,002,000	7,676,000	8,325,000	6,978,000	9,055,000	8,609,000	8,292,000	7,658,000	7,607,000
accrued expenses	10,838,000	12,380,000	10,786,000	7,732,000	11,490,000	13,938,000	8,309,000	4,047,000	11,153,000	10,443,000	10,578,000	6,002,000	7,598,000	6,531,000	5,190,000	3,308,000	3,943,000	5,042,000	3,887,000	5,172,000	3,930,000	2,606,000	2,549,000	2,523,000	2,893,000	3,176,000	3,095,000	2,257,000	2,223,000	2,113,000	3,782,000	2,775,000	3,784,000	3,926,000	3,820,000	4,752,000	4,492,000	4,682,000	5,056,000	5,217,000	6,910,000	6,705,000	5,615,000	6,150,000	5,536,000	6,578,000	3,926,000	3,711,000	3,180,000	2,701,000	2,176,000	2,746,000	2,542,000	4,467,000	3,792,000	2,211,000	2,017,000	2,609,000	2,746,000	2,847,000	2,734,000	2,843,000	3,133,000	2,710,000	5,020,000	3,868,000
customers payable	13,552,000	14,120,000	14,428,000	17,670,000	18,059,000	13,428,000	15,266,000	12,804,000	12,558,000	10,170,000	8,758,000	9,024,000	7,421,000	7,205,000	3,985,000
lease liabilities – current portion	1,903,000	1,899,000	2,081,000	2,037,000	2,222,000	2,256,000	2,178,000	1,288,000	1,201,000	1,366,000	1,327,000	1,011,000	1,190,000	1,307,000	1,262,000	1,668,000	2,153,000	2,266,000	1,698,000	1,865,000	1,133,000	1,200,000
customer deposits and deferred service revenue	31,888,000	27,867,000	33,859,000	24,432,000	31,410,000	24,944,000	30,444,000	14,294,000	14,710,000	9,304,000	10,066,000	11,353,000	9,099,000	10,562,000	12,693,000	13,755,000	16,367,000	14,394,000	15,498,000	14,584,000	9,895,000	9,506,000	11,067,000	9,625,000	9,732,000	12,084,000	10,823,000	10,736,000	11,540,000	9,851,000	10,235,000	11,236,000	11,275,000	12,909,000	12,496,000	14,513,000	17,807,000	19,814,000	11,895,000	11,732,000	11,478,000
total current liabilities	114,131,000	140,738,000	133,866,000	128,938,000	107,504,000	111,837,000	109,342,000	79,102,000	93,718,000	80,232,000	87,248,000	83,501,000	64,802,000	67,824,000	65,759,000	61,555,000	58,337,000	60,517,000	60,465,000	60,353,000	45,140,000	39,959,000	41,507,000	37,327,000	38,362,000	42,104,000	31,959,000	30,333,000	51,381,000	40,917,000	42,687,000	50,260,000	42,141,000	38,587,000	33,320,000	41,030,000	46,245,000	46,840,000	46,951,000	41,642,000	41,339,000	37,803,000	51,582,000	55,026,000	56,648,000	56,371,000	53,903,000	44,249,000	43,891,000	40,156,000	35,821,000	40,910,000	41,602,000	46,688,000	41,384,000	43,921,000	39,520,000	38,565,000	43,566,000	50,603,000	50,587,000	52,057,000	52,136,000	44,240,000	46,059,000	46,201,000
lease liabilities – net of current portion	7,367,000	6,435,000	6,833,000	5,423,000	5,608,000	6,053,000	5,559,000	3,540,000	2,519,000	2,819,000	3,075,000	3,080,000	2,551,000		1,717,000	2,059,000	2,116,000		2,824,000	3,322,000	1,410,000	1,462,000
deferred service revenue – noncurrent	1,762,000	1,841,000	1,924,000	1,259,000	1,454,000	1,529,000	1,733,000	2,876,000	3,296,000	4,204,000	4,329,000	4,359,000	6,245,000	5,125,000	5,888,000	6,327,000	6,463,000	7,597,000	6,799,000	5,234,000	2,838,000	3,082,000
long-term debt	421,685,000	374,070,000	373,513,000	372,848,000	392,270,000	368,355,000	466,735,000	378,672,000	378,155,000	377,647,000	377,148,000	376,657,000	389,714,000	389,192,000	388,680,000	388,176,000	387,681,000	305,845,000	302,336,000	279,087,000	106,851,000	105,844,000	104,867,000	103,849,000	101,916,000	62,414,000	60,137,000	59,255,000			31,000	101,000	133,000	185,000	233,000	283,000	331,000	379,000	426,000	476,000	521,000	566,000	612,000	2,528,000	2,548,000	2,566,000	7,183,000	833,000	876,000	918,000	960,000	1,004,000	1,043,000	1,084,000	1,114,000	1,173,000	1,211,000	1,249,000	1,252,000	1,772,000	2,258,000	2,744,000	3,228,000	3,638,000	4,046,000	4,455,000
other long-term liabilities	19,773,000	20,910,000	23,189,000	24,130,000	22,718,000	21,243,000	23,198,000	4,173,000	4,825,000	4,639,000	4,669,000	6,669,000	9,112,000	14,655,000	19,611,000	5,496,000	5,629,000	7,405,000	9,287,000	13,118,000	4,584,000	4,997,000	5,706,000	7,928,000	7,068,000	7,310,000	3,903,000	3,201,000	3,198,000	3,411,000	3,392,000	3,380,000	6,559,000	6,866,000	7,797,000	7,764,000	7,705,000	7,712,000	8,802,000	8,759,000	8,701,000	8,883,000	8,711,000	8,765,000	8,739,000	8,847,000	3,724,000	3,705,000	3,672,000	3,714,000	3,592,000	3,460,000	3,429,000	3,030,000	3,184,000	3,101,000	3,093,000	2,837,000	2,686,000	2,870,000	2,811,000	2,725,000	2,551,000	2,315,000	2,386,000	2,212,000
total liabilities	564,718,000	543,994,000	539,325,000	532,598,000	529,554,000	509,017,000	606,567,000	468,363,000	482,513,000	469,541,000	476,469,000	474,266,000	472,424,000	479,664,000	481,655,000	463,613,000	460,226,000	383,804,000	381,711,000	361,114,000	160,823,000	155,344,000	155,026,000	154,276,000	152,686,000	116,765,000	102,013,000	99,285,000	61,563,000	48,735,000	50,751,000	58,524,000	52,482,000	45,638,000	41,350,000	49,077,000	54,281,000	54,931,000	56,179,000	50,877,000	50,561,000	47,252,000	60,905,000	66,319,000	67,935,000	67,784,000	64,810,000	48,787,000	48,439,000	44,788,000	40,373,000	45,763,000	46,178,000	50,943,000	45,786,000
commitments and contingencies
shareholders’ equity:
preferred stock, 0.02 par value, 1,000,000 shares authorized
common stock	848,000	836,000	835,000	835,000	833,000	798,000	749,000	705,000	703,000	584,000	574,000	572,000	572,000	570,000	569,000	565,000	565,000	562,000	560,000	540,000	462,000	459,000	386,000	386,000	386,000	367,000	362,000	360,000	357,000	357,000	357,000	357,000	354,000	354,000	354,000	352,000	350,000	350,000	350,000	350,000	346,000	347,000	345,000	345,000	345,000	346,000	345,000	347,000	347,000	344,000	344,000	344,000		341,000		341,000
additional paid-in capital	1,245,562,000
accumulated deficit	-380,573,000	-364,404,000	-343,510,000	-325,333,000	-304,293,000	-279,943,000	-258,886,000	-239,054,000	-293,244,000	-274,956,000	-256,327,000	-240,811,000	-221,109,000	-205,204,000	-191,723,000	-170,383,000	-151,535,000	-122,505,000	-96,866,000	-64,933,000	-54,977,000	-46,706,000	-33,741,000	-30,030,000	-21,054,000
accumulated other comprehensive loss	-10,518,000	-8,429,000	-7,909,000		-16,697,000	-20,951,000	-118,000	-3,908,000	-3,653,000	-939,000	-1,507,000	-2,924,000	-1,407,000	-1,365,000	-4,204,000	-3,353,000	-3,192,000	-3,704,000	-3,992,000	-3,883,000	-4,238,000	-3,936,000	-5,059,000	-5,009,000	-5,167,000	-5,368,000	-4,489,000	-4,132,000	-4,263,000	-4,253,000	-3,915,000	-3,632,000	-3,007,000	-3,430,000	-3,575,000	-3,338,000	-3,453,000	-3,494,000	-3,076,000	-2,928,000	-2,900,000	-2,778,000	-2,311,000	-1,594,000	-1,571,000	-1,316,000	-281,000	-624,000	-529,000	-539,000	-403,000	-553,000	-421,000	-104,000	-235,000	-232,000	-51,000	-201,000	-120,000			-613,000	-668,000	-663,000	-515,000	-449,000
treasury stock	-28,892,000	-28,892,000	-28,892,000	-28,892,000	-28,864,000	-21,849,000	-21,849,000	-21,828,000	-21,616,000	-16,778,000	-16,836,000	-16,776,000	-16,571,000	-14,093,000	-13,656,000	-13,393,000	-12,996,000	-10,945,000	-9,916,000	-9,458,000	-8,961,000	-4,987,000	-4,583,000	-4,277,000	-4,469,000	-6,380,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,836,000	-5,834,000	-5,834,000	-5,834,000	-5,834,000	-5,832,000	-5,832,000	-5,832,000	-5,832,000	-5,832,000	-5,832,000	-5,832,000	-5,832,000	-5,509,000	-5,509,000	-5,509,000
total shareholders’ equity	826,427,000	825,150,000	838,049,000	859,142,000	851,995,000	871,710,000	692,707,000	588,321,000	526,400,000	333,065,000	332,740,000	342,216,000	359,878,000	375,194,000	383,086,000	395,500,000	411,470,000		524,681,000	436,561,000	177,852,000	188,405,000	66,775,000	68,610,000	76,296,000	72,847,000	50,556,000	55,787,000	43,485,000	45,946,000	52,045,000	68,691,000	69,658,000	68,986,000	73,383,000	74,130,000	71,257,000	69,580,000	68,781,000	68,226,000	68,055,000	68,060,000	67,166,000	69,162,000	69,012,000	69,513,000	72,360,000	71,961,000	72,266,000	72,720,000	72,604,000						75,169,000	72,367,000	71,576,000	70,615,000	87,856,000	86,759,000	85,420,000	84,810,000	83,970,000	83,235,000
total liabilities and shareholders’ equity	1,391,145,000	1,369,144,000	1,377,374,000	1,391,740,000	1,381,549,000	1,380,727,000	1,299,274,000	1,056,684,000	1,008,913,000	802,606,000	809,209,000	816,482,000	832,302,000	854,858,000	864,741,000	859,113,000	871,696,000		906,392,000	797,675,000	338,675,000	343,749,000	221,801,000	222,886,000	228,982,000	189,612,000	152,569,000	155,072,000	105,048,000	94,681,000	102,796,000	127,215,000	122,140,000	114,624,000	114,733,000	123,207,000	125,538,000	124,511,000	124,960,000	119,103,000	118,616,000	115,312,000	128,071,000	135,481,000	136,947,000	137,297,000	137,170,000	120,748,000	120,705,000	117,508,000	112,977,000						119,382,000	115,943,000	119,080,000	125,860,000	143,512,000	144,285,000	143,335,000	135,003,000	136,461,000	136,103,000
preferred stock, .02 par value, 1,000,000 shares authorized, none outstanding
additional paid in capital		1,226,039,000	1,217,525,000	1,209,634,000	1,201,016,000	1,085,473,000	972,811,000	852,406,000	844,210,000	625,154,000	606,836,000	602,155,000	598,393,000	595,286,000	592,100,000	582,064,000	578,628,000	640,937,000	634,895,000	514,295,000	245,566,000	243,575,000	109,772,000	107,540,000	106,600,000
equity consideration payable						108,182,000
accumulated other comprehensive income				2,898,000																																																								324,000	29,000
current assets of discontinued operations								6,382,000
noncurrent assets of discontinued operations								839,000
current liabilities of discontinued operations								2,033,000
noncurrent liabilities of discontinued operations
preferred stock, .02 par value, 1,000,000 shares authorized
accounts receivable														59,960,000				49,978,000
property, plant and equipment														12,961,000				13,709,000
intangible assets														111,097,000				118,763,000
lease liabilities, net of current portion														2,868,000				2,440,000
other current liabilities																2,031,000														2,550,000	2,600,000	3,000,000
liabilities and stockholders’ equity
stockholders’ equity:
total stockholders’ equity																		504,345,000
total liabilities and stockholders’ equity																		888,149,000
inventories – net																			33,988,000	29,947,000	25,296,000	21,638,000	27,113,000	25,992,000	23,339,000		19,081,000	20,433,000
lease liabilities - current portion																							1,132,000	1,295,000	2,000,000		1,182,000
lease liabilities - net of current portion																							1,300,000	1,235,000	805,000	1,021,000	1,866,000
deferred service revenue – non current																							1,646,000	3,937,000	4,535,000
accounts receivable-net																										41,774,000			29,311,000	26,219,000	27,150,000	33,418,000	35,911,000	30,077,000	28,392,000	33,807,000	34,241,000	30,705,000	32,848,000	29,462,000	33,972,000	29,530,000	29,344,000	34,467,000	32,383,000	31,445,000	31,272,000	31,333,000	34,152,000	30,688,000	26,023,000	29,965,000	28,137,000	29,890,000	26,323,000	31,336,000	27,274,000	30,680,000	36,781,000	37,154,000	41,346,000	43,517,000	42,951,000	40,496,000	42,373,000	46,107,000
inventories-net																										19,326,000			22,639,000	22,737,000	24,345,000	26,748,000	22,394,000	21,746,000	26,716,000	28,845,000	24,800,000	26,237,000	29,785,000	25,392,000	22,376,000	21,499,000	25,090,000	24,936,000	27,227,000	25,922,000	25,518,000	22,425,000	22,844,000	24,465,000	25,299,000	28,236,000	25,835,000	26,172,000	25,469,000	23,469,000	25,925,000	25,260,000	29,769,000	35,245,000	39,044,000	38,707,000	41,052,000	34,532,000	33,104,000	32,867,000
property, plant and equipment - net																										14,351,000				12,575,000				10,755,000		9,854,000	9,042,000	7,035,000	5,751,000	6,055,000	5,724,000	5,716,000	5,788,000	6,353,000	6,070,000	6,137,000	6,034,000	5,935,000	5,719,000	5,494,000	5,507,000	5,570,000	5,588,000	5,857,000	6,099,000	6,119,000	5,453,000	5,259,000	5,500,000	5,646,000	5,759,000	5,796,000	5,936,000	6,017,000	6,231,000	6,332,000
intangible assets - net																										32,948,000				10,859,000				12,070,000		11,886,000	11,411,000	10,966,000	11,298,000	11,102,000	11,053,000	10,898,000	10,720,000	22,863,000	22,825,000	22,952,000	23,084,000	15,664,000	15,601,000	15,071,000	14,069,000	12,881,000	12,316,000	11,747,000	16,779,000	16,444,000	16,048,000	15,888,000	15,794,000	14,229,000	12,784,000	10,389,000	9,347,000	8,491,000	8,794,000	7,243,000
borrowings on line of credit																														7,819,000				950,000		1,000,000			4,795,000
lease liability current portion																										2,060,000
deferred revenue – noncurrent																										3,916,000	4,148,000
capital in excess of par value																										94,372,000	64,832,000	63,806,000	50,529,000	50,251,000	49,849,000	49,508,000	48,530,000	48,349,000	48,176,000	47,354,000	46,392,000	46,203,000	46,161,000	45,977,000	45,856,000	45,753,000	45,276,000	45,066,000	44,994,000	44,854,000	44,633,000	44,466,000	44,157,000	43,635,000	43,628,000	43,431,000	43,313,000	43,661,000	43,547,000	43,413,000	43,176,000	42,990,000	42,828,000	42,625,000	42,315,000	42,264,000	42,134,000	41,737,000	41,600,000	41,382,000
(accumulated deficit) retained earnings																										-10,144,000	-4,313,000
asset held for sale																											3,350,000	2,477,000
borrowings of line of credit																													16,139,000		6,965,000	5,841,000	3,950,000		1,450,000		1,000,000
liability held for sale																											511,000
operating lease right-of-use assets																												3,323,000	3,697,000
operating lease liabilities - current portion																												1,206,000	1,540,000
operating lease liabilities - net of current portion																												2,153,000	2,177,000
deferred service revenue																												4,343,000	4,807,000	4,407,000	4,641,000	4,783,000	3,649,000									10,639,000	11,089,000	16,175,000	18,635,000	12,695,000	14,433,000	15,921,000	16,285,000	12,170,000	13,713,000	14,636,000	14,789,000	12,522,000	12,880,000	14,912,000	12,933,000	10,412,000	14,209,000	15,687,000	16,050,000	16,260,000	13,701,000	14,613,000	16,298,000	16,598,000
retained earnings																												1,589,000	2,698,000	5,427,000	11,590,000	28,294,000	29,617,000	29,549,000	34,264,000	35,598,000	33,804,000	32,357,000	31,182,000	30,663,000	30,589,000	30,574,000	29,692,000	31,181,000	31,080,000	31,465,000	33,499,000	33,608,000	34,127,000	35,116,000	34,871,000	34,431,000	34,374,000	34,758,000	38,371,000	37,017,000	37,538,000	35,073,000	34,363,000	33,161,000	51,009,000	50,605,000	49,451,000	48,913,000	48,064,000	47,482,000
deferred income taxes																																14,170,000	13,887,000		17,002,000	16,403,000	17,056,000	7,767,000	6,424,000	6,689,000	6,810,000	6,741,000	5,014,000	5,583,000	5,689,000	4,512,000	5,034,000	4,694,000	4,496,000	3,747,000	14,367,000	12,877,000	12,451,000	11,037,000	9,503,000	9,907,000	8,897,000	10,240,000	9,925,000	10,136,000	6,358,000	5,719,000	5,242,000	5,664,000	6,238,000	6,362,000
assets held for sale																															901,000
note receivable																																					3,794,000	3,510,000	4,406,000	4,366,000	3,387,000	3,320,000
income taxes receivable																																			144,000			261,000	482,000	223,000	73,000										463,000	152,000
assets of discontinued operations																																					462,000	462,000																				3,182,000
income taxes payable																																										279,000	323,000	373,000	321,000	475,000				185,000			288,000	547,000		93,000	140,000	138,000
liabilities of discontinued operations																																							5,000	142,000	280,000	441,000										389,000	104,000	141,000	104,000	101,000	389,000	925,000
long term note receivable
borrowings under line of credit																																											3,438,000	3,276,000	1,227,000	5,000,000	5,982,000
customer deposits																																										180,000	300,000	4,078,000	6,143,000	2,345,000	1,173,000	751,000	992,000	1,071,000	939,000	886,000	885,000	1,380,000	763,000	714,000	651,000	1,137,000	1,247,000	956,000	1,227,000	2,286,000	906,000	1,237,000	1,702,000	1,782,000
assets classified as held for sale																																											20,697,000
liabilities associated with assets held for sale																																											6,256,000
income tax refund																																															434,000	256,000	80,000						37,000
liabilities and shareholders' equity
shareholders equity:
preferred stock, .02 par value, 1,000,000 shares authorized, none issued and outstanding
total shareholders equity																																																				71,819,000
total liabilities and shareholders equity																																																				117,582,000
escrow receivable																																																					828,000	828,000	956,000	1,147,000	600,000
shareholders' equity:
17,043,128 and 17,038,405 shares issued;
15,335,441 and 15,330,718 outstanding																																																					341,000
total shareholders' equity																																																					71,773,000	72,822,000	76,190,000	74,707,000
total liabilities and shareholders' equity																																																					117,951,000	123,765,000	121,976,000	123,003,000
see accompanying notes to consolidated financial statements
assets
17,061,171 and 16,863,868 shares issued;
15,353,484 and 15,156,584 outstanding																																																							341,000
investments																																																								250,000	1,744,000
assets current assets:
preferred stock, .02 par value,
1,000,000 shares authorized
29,000,000 shares authorized;
16,917,368 and 16,863,868 shares issued;
15,210,084 and 15,156,584 outstanding																																																									338,000
income tax refunds																																																											37,000	379,000	312,000	152,000	1,253,000	1,512,000	408,000	438,000
16,863,868 and 16,746,618 shares issued;
15,156,584 and 15,039,334 outstanding																																																										337,000	337,000	337,000
borrowings under lines of credit																																																											1,500,000	3,000,000	4,850,000		500,000	700,000		2,000,000
16,756,768 and 16,746,618 shares issued;
15,049,484 and 15,039,334 outstanding																																																													335,000
16,746,618 and 16,449,695 shares issued;
15,039,334 and 14,796,940 outstanding																																																														335,000
16,741,368 and 16,449,695 shares issued;
15,034,084 and 14,796,940 outstanding																																																															335,000
16,603,721 and 16,449,695 shares issued;
14,950,966 and 14,796,940 outstanding																																																																332,000
16,522,321 and 16,449,695 shares issued;
14,869,566 and 14,796,940 outstanding																																																																	330,000
16,449,695 and 16,189,718 shares issued;
14,796,940 and 14,536,963 outstanding																																																																		329,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31

cash flows from operating activities:
net loss	-16,169,000				-24,350,000				-18,288,000	-18,629,000	-15,516,000	-19,702,000	-15,905,000	-13,481,000	-21,340,000	-18,848,000	-15,650,000	-25,639,000	-31,933,000	-9,956,000	-8,271,000	-12,965,000	-3,711,000	-8,976,000	-10,910,000	-5,831,000	-5,902,000															882,000	-1,489,000	101,000	-385,000			-519,000	-989,000
net income from discontinued operations		0	0	0	-197,000	-4,236,000	-832,000
adjustments to reconcile net loss to net cash from operating activities:
depreciation and amortization	12,012,000	12,250,000	12,471,000	12,415,000	11,882,000	11,205,000	10,575,000	8,901,000	7,226,000	7,001,000	6,665,000	6,882,000	6,933,000	6,470,000	6,768,000	6,457,000	6,400,000	6,352,000	6,199,000																											1,139,000	870,000	831,000	830,000	825,000	749,000	712,000	544,000	6,074,000	905,000	919,000	825,000	576,000	670,000	692,000	710,000	863,000	800,000	847,000	849,000
accretion of debt in interest expense	598,000	591,000	584,000	579,000	588,000	677,000	730,000	517,000	508,000	611,000	541,000	531,000	522,000	512,000	504,000	495,000	486,000		2,118,000
current expected credit losses	1,479,000	912,000	773,000	1,540,000	1,109,000	157,000	886,000	989,000	564,000	-204,000	-1,000	295,000	489,000	465,000	257,000	156,000	326,000	298,000	70,000	904,000	18,000	-372,000	-66,000	734,000	244,000
provision for obsolete inventory	648,000	472,000	1,186,000	-124,000	-268,000	-136,000	-698,000	576,000	108,000	-644,000	-1,623,000	264,000	88,000	-1,704,000	410,000	834,000	529,000	84,000	-492,000	301,000	210,000	98,000	719,000	251,000	1,188,000	-643,000	1,762,000	-1,110,000	588,000	-1,141,000	-9,000	278,000	696,000	0	15,000	570,000	958,000	-642,000	921,000	575,000	395,000	37,000	464,000	371,000	421,000	362,000	336,000	708,000	826,000	687,000	533,000	693,000	651,000	816,000	969,000	611,000	750,000	1,003,000	1,268,000	8,300,000	340,000	892,000	697,000	135,000	225,000
stock-based compensation	7,203,000	7,756,000	7,821,000	7,887,000	7,181,000	7,904,000	5,887,000	6,286,000	4,410,000	3,785,000	3,972,000	3,615,000	3,055,000	3,169,000	3,490,000	3,231,000	3,536,000	5,259,000	3,785,000	4,251,000	1,320,000	1,034,000	1,005,000	1,123,000	1,089,000
loss on debt extinguishment	-380,000	0	0	0	5,791,000													0				0	0	0	8,123,000
deferred income tax	-10,000	161,000	-1,573,000	-84,000	961,000	-2,500,000	-1,251,000	1,012,000	-8,049,000									2,105,000	-162,000			1,143,000	36,000	978,000	-5,386,000	63,000	0			0	14,170,000	-283,000	-78,000	3,744,000	-599,000	653,000	361,000	391,000	265,000	121,000	-69,000	-756,000	-492,000	393,000	-1,055,000	956,000	-85,000	-134,000	-221,000	-870,000	-349,000	201,000	-860,000	-3,120,000	118,000	-598,000	1,650,000	1,156,000	838,000	-9,992,000	166,000	-596,000	442,000	575,000	123,000
changes in operating assets and liabilities, net of acquisitions:
accounts receivable	-7,641,000	-12,053,000	684,000	-3,164,000	-11,356,000	1,200,000	-3,733,000	-2,873,000	-5,090,000	3,187,000	-3,652,000	3,344,000	-7,034,000	-5,417,000	5,537,000	-6,492,000	-4,868,000	-1,357,000	-3,876,000	2,798,000	4,267,000	-2,288,000	-1,804,000	3,849,000	-1,289,000	-12,322,000	-3,034,000	2,915,000	-3,199,000	619,000	6,089,000	2,279,000	-5,934,000	-1,686,000	5,428,000	515,000	-3,932,000	2,264,000	-3,511,000	4,298,000	-4,627,000	-532,000	3,202,000	-2,210,000	-1,088,000	-349,000	30,000	2,856,000	-3,706,000	-4,996,000	3,790,000	-1,870,000	1,562,000	-3,675,000	5,052,000	-4,042,000	3,246,000	-1,356,000	149,000	4,142,000	2,087,000	-716,000	-2,718,000	1,580,000	3,303,000
inventories	-4,121,000	-2,458,000	805,000	-4,027,000	-840,000	2,082,000	2,358,000	-1,067,000	-1,605,000	1,405,000	3,809,000	5,747,000	5,051,000	3,901,000	1,747,000	-2,087,000	-6,338,000	-1,170,000	-3,612,000	-4,915,000	-3,850,000	5,469,000	-1,840,000	-2,904,000	-5,201,000	398,000	-410,000	2,366,000	-490,000	2,749,000	2,412,000	-4,632,000	-1,344,000	4,970,000	2,114,000	-4,615,000	479,000	4,190,000	-5,314,000	-3,591,000	-1,272,000	3,554,000	-612,000	1,920,000	-1,726,000	-766,000	-3,429,000	-289,000	795,000	147,000	2,404,000	-3,094,000	-314,000	-1,520,000	-2,969,000	1,845,000	-1,414,000	1,479,000	4,051,000	-4,465,000	-556,000	1,495,000	-7,079,000	-1,638,000	-485,000
other current assets	14,000	-5,883,000	-7,720,000	379,000	-2,012,000	545,000	-3,394,000	4,011,000	-4,552,000	660,000	-560,000	2,064,000	-2,512,000	628,000	-1,275,000	3,445,000	-1,849,000	3,580,000	3,474,000	-6,706,000	-4,343,000	-180,000	729,000	3,024,000	-2,764,000	930,000	1,472,000	-1,558,000	-1,848,000	1,235,000	-307,000	1,132,000	-1,102,000	-623,000	660,000	104,000	-323,000	1,131,000	-628,000	-977,000	226,000	-1,146,000	1,111,000	873,000	-628,000	-250,000	-1,098,000	29,000	140,000	305,000	-307,000	37,000	-256,000	722,000	-820,000	-13,000	-37,000	-32,000	647,000	251,000	-926,000	597,000	1,042,000	-802,000	-633,000
other assets	883,000	-3,092,000	5,452,000	-159,000	592,000	-1,285,000	1,440,000	599,000	-724,000	-1,213,000	-959,000	-182,000	752,000	-1,591,000	-940,000	-1,168,000	-1,353,000	-1,227,000	-1,249,000	-1,946,000	421,000	-271,000	478,000	34,000	85,000	278,000	8,000	390,000	-240,000	42,000	44,000	-199,000	-84,000	-465,000	-9,000	28,000	-76,000	-75,000	-14,000	-12,000	-93,000	-46,000	35,000	-518,000	-115,000	-152,000	5,000	-64,000	-157,000	-62,000	246,000	576,000	-217,000	1,000	-62,000	8,000	-191,000	-73,000	136,000	-33,000	-53,000	-93,000	-161,000	38,000	-97,000
accounts payable	-3,048,000	7,373,000	-6,792,000	6,360,000	-2,962,000	-684,000	303,000	-4,864,000	9,521,000	2,926,000	297,000	-977,000	4,063,000	-1,389,000	-1,725,000	3,399,000	1,906,000	-2,938,000	2,916,000	-725,000	5,658,000	-3,521,000	276,000	-1,149,000	218,000	7,456,000	-1,507,000	-4,358,000	2,150,000	-235,000	-8,193,000	3,535,000	3,205,000	4,884,000	-4,715,000	-3,297,000	773,000	-2,582,000	2,738,000	1,275,000	3,527,000	-4,928,000	1,653,000	-681,000	-3,573,000	879,000	1,059,000	-198,000	737,000	4,772,000	-4,221,000	339,000	-4,820,000	4,054,000	-1,840,000	2,488,000	744,000	1,838,000	-3,679,000	1,213,000	-2,971,000	-3,761,000	8,494,000	1,245,000	980,000
accrued salaries and benefits	-8,905,000	4,349,000	2,447,000	6,120,000	-10,433,000	4,611,000	3,956,000	4,694,000	-5,160,000	3,426,000	313,000	4,076,000	-7,647,000	1,036,000	3,165,000	1,671,000	-4,511,000	2,335,000	-1,329,000	2,640,000	-3,916,000	2,533,000	3,025,000	1,415,000	-1,646,000		1,719,000	555,000	-795,000		-131,000	757,000	-879,000		-500,000	1,114,000	-173,000		-103,000	579,000	-442,000	-103,000	157,000	867,000	-920,000	8,000	459,000	618,000	-1,319,000	259,000	658,000	-798,000	146,000	-231,000	236,000	175,000	-785,000	-487,000	-612,000	1,328,000	-2,095,000	429,000	249,000	675,000	54,000
accrued expenses	-1,502,000	1,601,000	3,177,000	-5,034,000	-2,918,000	4,324,000	1,127,000	401,000	-3,376,000	1,556,000	2,304,000	-1,532,000	1,067,000	1,272,000	1,430,000	-573,000	-1,117,000	1,322,000	-1,073,000	-7,677,000	1,332,000	33,000	25,000	-369,000	-283,000	1,305,000	96,000	2,730,000	110,000	-2,004,000	-119,000	-1,009,000	-142,000	911,000	-932,000	260,000	-190,000	-373,000	-162,000	-1,693,000	205,000	1,089,000	-448,000	614,000	-1,042,000	2,652,000	215,000	531,000	479,000	525,000	-570,000	200,000	-1,925,000	674,000	1,582,000	195,000	-593,000	-72,000	-94,000	112,000	-115,000	-287,000	386,000	-2,283,000	1,206,000
customer deposits and deferred service revenue	3,883,000	-6,062,000	10,533,000	-7,899,000	5,451,000	-6,597,000	10,296,000	-3,072,000	-945,000	-887,000	-1,317,000	368,000	-343,000	-2,927,000	-1,881,000	-2,694,000	1,651,000	-308,000	2,499,000	-4,044,000	143,000	-158,000	-849,000	-705,000	-1,733,000		-441,000	-541,000	2,089,000	-618,000	-1,143,000	1,095,000	2,015,000	413,000	-2,017,000	-3,294,000	-2,007,000		-672,000	254,000	659,000
customers payable	-568,000	-308,000	-3,242,000	-389,000	4,631,000	-1,838,000	2,462,000	246,000	2,388,000	1,413,000	-266,000	1,603,000	216,000	3,220,000
other long-term liabilities	-1,020,000	-22,000	-37,000	13,000	-21,000	1,996,000	-1,926,000	-212,000	-115,000	-226,000	300,000	-143,000	-343,000	-183,000	-91,000	-248,000	-346,000	-1,923,000	188,000	14,000	-413,000	321,000	88,000			-67,000	2,000	-2,547,000	-213,000	419,000	-388,000	-179,000	-307,000	69,000	33,000	59,000	-7,000	40,000	43,000	58,000	-182,000	82,000	-54,000	26,000	-108,000			32,000	-42,000	121,000	133,000	45,000	385,000	-152,000	83,000	7,000	255,000	153,000	-184,000	59,000	86,000	174,000	236,000	-71,000	174,000
cash from operating activities - continuing operations	-16,644,000	-11,752,000	8,392,000	-6,627,000	-17,171,000	3,125,000	8,597,000
cash from operating activities - discontinued operations						250,000	204,000
net cash from operating activities	-16,644,000	-11,752,000	8,392,000	-6,627,000	-17,171,000	3,375,000	8,801,000	-13,846,000	-23,576,000	1,413,000	-5,693,000	3,953,000	-16,748,000	-9,491,000	-1,990,000	-10,391,000	-21,198,000	-9,537,000	-10,561,000	-29,624,000	-3,434,000	-5,854,000	-747,000	1,481,000	-15,123,000	-6,509,000	-3,079,000	-3,331,000	-3,210,000	-1,873,000	-2,565,000	3,132,000	-2,543,000	7,627,000	-1,642,000	-4,441,000	-1,230,000	13,813,000	-3,558,000	1,884,000	-1,143,000	-1,111,000	2,259,000	-1,352,000	798,000	3,245,000	-2,755,000	3,862,000	1,909,000	1,798,000	2,283,000	-3,159,000	-4,152,000	2,126,000	2,458,000	3,568,000	5,206,000	7,113,000	3,820,000	4,188,000	-4,120,000	5,464,000	2,562,000	-1,879,000	6,246,000
cash flows from investing activities:
cash paid for acquisition, net of cash acquired	-275,000		0	0	-4,323,000		-127,278,000	0	-166,292,000									-52,000	2,610,000
capital expenditures	-321,000	-782,000	-1,346,000	-782,000	-413,000	-179,000	-384,000	-362,000	-45,000	-496,000	-1,784,000	-2,414,000	-823,000	-366,000	-308,000	-224,000	-280,000	-507,000	-328,000	-448,000	-152,000	-607,000	-504,000	0	-188,000	-110,000	-659,000	-806,000	-887,000	-947,000	-1,264,000	-1,169,000	-568,000	-1,124,000	-450,000	-1,153,000	-2,344,000	-1,663,000	-786,000	-662,000	-322,000	-221,000	-525,000	-656,000	-303,000	-475,000	-462,000	-580,000	-591,000	-374,000	-285,000	-293,000	-184,000	-180,000	-207,000	-1,045,000	-494,000	-176,000	-160,000	-246,000	-314,000	-319,000	-1,184,000	-189,000	-2,146,000
free cash flows	-16,965,000	-12,534,000	7,046,000	-7,409,000	-17,584,000	3,196,000	8,417,000	-14,208,000	-23,621,000	917,000	-7,477,000	1,539,000	-17,571,000	-9,857,000	-2,298,000	-10,615,000	-21,478,000	-10,044,000	-10,889,000	-30,072,000	-3,586,000	-6,461,000	-1,251,000	1,481,000	-15,311,000	-6,619,000	-3,738,000	-4,137,000	-4,097,000	-2,820,000	-3,829,000	1,963,000	-3,111,000	6,503,000	-2,092,000	-5,594,000	-3,574,000	12,150,000	-4,344,000	1,222,000	-1,465,000	-1,332,000	1,734,000	-2,008,000	495,000	2,770,000	-3,217,000	3,282,000	1,318,000	1,424,000	1,998,000	-3,452,000	-4,336,000	1,946,000	2,251,000	2,523,000	4,712,000	6,937,000	3,660,000	3,942,000	-4,434,000	5,145,000	1,378,000	-2,068,000	4,100,000
capitalization of software costs	-2,369,000	-1,392,000	-1,854,000	-1,234,000	-1,138,000	-1,810,000	-1,336,000	-1,283,000	-1,385,000	-1,982,000	-1,371,000	-1,512,000	-481,000	-1,726,000	-1,472,000	-1,679,000	-1,568,000	-1,381,000	-1,633,000	-2,321,000	-1,517,000	-1,563,000	-1,756,000	-2,761,000	-1,852,000	-1,785,000	-659,000	-588,000	-1,036,000	-826,000	-968,000	-996,000	-1,102,000	-510,000	-1,128,000	-1,142,000	-1,006,000	-736,000	-729,000	-561,000	-659,000	-648,000	-71,000	-807,000	-622,000	-637,000	-731,000	-532,000	-994,000	-1,436,000	-1,590,000	-965,000	-661,000	-912,000	-871,000	-943,000	-679,000	-341,000	-1,952,000	-2,362,000	-2,734,000	-1,426,000	-378,000	-163,000	-128,000
cash from investing activities - continuing operations	-2,965,000	-2,215,000	-3,200,000	-2,016,000	-5,874,000	-5,999,000	-110,208,000
cash from investing activities - discontinued operations		0	0	0	197,000	3,985,000	5,024,000
net cash from investing activities	-2,965,000	-2,215,000	-3,200,000	-2,016,000	-5,677,000	-2,014,000	-105,184,000	78,947,000	-151,861,000	-2,969,000	1,353,000	-4,398,000	-1,767,000	-2,367,000	-59,380,000	-1,903,000	-3,060,000	-1,940,000	649,000	-380,032,000	-1,669,000		-2,241,000	-2,589,000	-2,040,000		-8,318,000	-1,394,000	-1,923,000	-1,773,000	-1,106,000	-2,165,000	-1,670,000	-1,634,000	-1,578,000	-2,295,000	-3,350,000	-2,399,000	-1,515,000	-2,200,000	-981,000	13,254,000	-4,441,000	-1,463,000	-925,000	-1,112,000	-6,193,000	-1,112,000	-1,585,000	-1,810,000	-1,875,000	-1,258,000	-845,000	-964,000	-637,000	-723,000	2,077,000	-593,000	-2,112,000	-2,608,000	-3,048,000	-1,745,000	-1,562,000	-352,000	-2,307,000
cash flows from financing activities:
repayments of long-term debt	-206,170,000		0	0	-93,600,000
proceeds from debt issuance, net of original issue discount	257,050,000	0	0	0	111,136,000	0												0	265,000,000
repurchase of common stock	-33,125,000																																								-1,000
treasury stock acquired from employees upon vesting or forfeiture of restricted stock		0	0	-28,000	-7,015,000	0	-21,000	-212,000	-4,838,000	58,000	-60,000	-205,000	-2,478,000	-437,000	-263,000	-397,000	-2,051,000	-838,000	-490,000	-1,625,000	-2,362,000	532,000	-497,000	-179,000	-153,000
proceeds from exercise of stock options	54,000	76,000	70,000	105,000	215,000	196,000	502,000	432,000	1,105,000	157,000	710,000	150,000	52,000	18,000	250,000	205,000	813,000	337,000	202,000	208,000	409,000	239,000	394,000	12,000	30,000
cash from financing activities - continuing operations	17,809,000						87,814,000
cash from financing activities - discontinued operations
net cash from financing activities	17,809,000	759,000	70,000	705,000	10,736,000	-810,000	87,814,000	746,000	190,757,000	215,000	650,000	-55,000	-2,426,000	-599,000	-190,000	-367,000	-1,411,000	-672,000	124,933,000	321,463,000	-2,116,000	132,020,000	-391,000	-326,000	49,389,000	606,000	40,000	59,113,000	5,800,000	730,000	1,093,000	2,574,000	2,952,000	-724,000	1,164,000	4,663,000	954,000	-4,824,000	2,730,000	-52,000	-8,000	-6,009,000	120,000	2,006,000	-3,817,000	-1,029,000	5,945,000	-26,000	-53,000	-40,000	-43,000	16,000	-40,000	-29,000	-503,000	-482,000	-462,000	-1,985,000	-1,908,000	-2,141,000	4,455,000	-903,000	-655,000	476,000	-2,094,000
effect of exchange rate changes on cash and cash equivalents	-1,101,000	0	-1,161,000	1,019,000	278,000	-76,000	1,065,000	-611,000	479,000	-3,014,000	2,398,000	-2,394,000	-512,000	486,000	464,000	54,000	457,000	275,000	54,000	289,000	-345,000	935,000	359,000	120,000	-173,000	-760,000	-357,000	131,000	-10,000	584,000	-283,000	-625,000	423,000	158,000	-53,000	-115,000	41,000	-418,000	-148,000	-28,000	-122,000	-467,000	-717,000	-23,000	-255,000	-1,206,000	319,000	-67,000	10,000	-35,000	150,000	-133,000	-317,000	136,000	-7,000	-176,000	145,000	-138,000	-137,000	-100,000	281,000	-123,000	-200,000	176,000	-230,000
net decrease in cash and cash equivalents and cash held on behalf of customers	-2,901,000										-1,292,000	-2,894,000	-21,453,000
cash and cash equivalents and cash held on behalf of customers at beginning of period	93,685,000		0	0	121,545,000		0	0	47,539,000		0	0	77,533,000
cash and cash equivalents and cash held on behalf of customers at end of period	90,784,000		4,101,000	-6,919,000	109,711,000		-7,504,000	65,236,000	63,338,000		-1,292,000	-2,894,000	56,080,000
reconciliation of cash and cash equivalents and cash held on behalf of customers
cash and cash equivalents	77,232,000	-12,900,000	7,343,000	-6,530,000	91,652,000	2,313,000	-9,966,000	64,990,000	50,780,000		-1,026,000	-4,497,000	48,659,000
cash held on behalf of customers	13,552,000	-308,000	-3,242,000	-389,000	18,059,000	-1,838,000	2,462,000	246,000	12,558,000		-266,000	1,603,000	7,421,000
total cash and cash equivalents and cash held on behalf of customers	90,784,000		4,101,000	-6,919,000	109,711,000		-7,504,000	65,236,000	63,338,000		-1,292,000	-2,894,000	56,080,000
supplemental disclosures of cash flow information:
cash paid for interest	1,521,000		0	1,926,000	349,000		0														19,000
cash paid for income taxes	2,900,000	898,000	316,000	2,404,000	2,145,000	780,000	751,000
capitalized software recorded in accounts payable	326,000	-134,000	165,000	-15,000	40,000	-5,000	1,000														317,000
capital expenditures in accounts payable	206,000	91,000	-14,000	-170,000	303,000	14,000	-26,000														122,000
common stock issued for acquisition	24,836,000	0	0			-1,000	114,011,000
common stock issued for conversion of 2026 notes	20,567,000
accretion of discount on held to maturity investments in interest expense						197,000	18,000	662,000	-397,000
impairment loss						0
adjustment to contingent consideration liability						0	0			-1,700,000	0	-2,300,000	-5,200,000									-1,030,000
cash paid for acquisitions, net of cash acquired
proceeds from company owned life insurance policies
proceeds from sale of held to maturity investments						11,788,000	15,524,000	18,773,000	18,980,000
purchases of held to maturity investments						0	0	-25,232,000	-3,119,000
principal payments of long-term debt														-180,000	-177,000	-175,000	-173,000	-170,000	-361,000
proceeds from private placement of common stock, net of issuance costs						0	0	0	194,490,000
proceeds from employee stock purchase plan		683,000	0			463,000	0
cash paid for debt extinguishment
net increase in cash, cash equivalents, and cash held on behalf of customers
cash, cash equivalents, and cash held on behalf of customers at beginning of period
cash, cash equivalents, and cash held on behalf of customers at end of period
reconciliation of cash, cash equivalents, and cash held on behalf of customers
total cash, cash equivalents, and cash held on behalf of customers
net income			-18,177,000				-19,832,000																						-2,729,000		-16,704,000	-1,323,000	68,000	-5,293,000	-1,517,000	2,160,000	1,264,000	1,175,000	519,000	74,000	15,000					-2,034,000				245,000	440,000	57,000	-384,000		1,354,000	-521,000	2,465,000	710,000	1,202,000	-17,848,000	404,000	1,154,000	538,000	849,000	582,000
adjustments to reconcile net income to net cash from operating activities:
proceeds from company-owned life insurance policies
net increase in cash and cash equivalents and cash held on behalf of customers			4,101,000	-6,919,000	-11,834,000		-7,504,000	65,236,000	15,799,000
changes in operating assets and liabilities:
cash paid during the period for:
cash from in financing activities - discontinued operations
payments for the extinguishment of notes payable																		0				0	0	0	-66,250,000
proceeds from common stock issuance																		0	55,000,000
payments for common stock issuance costs																		-1,000	-2,513,000
payments for debt issuance costs																		0	-8,287,000
proceeds from (purchase of) held to maturity investments
purchase of held to maturity investments												-472,000	-463,000	-275,000
settlement of working capital for acquisition
changes in operating assets and liabilities, net of acquisition:
net increase in cash and cash equivalents																		-11,874,000	115,075,000			124,931,000	-3,020,000	-1,314,000	32,053,000	-18,911,000	-11,714,000	54,519,000	657,000													5,667,000	-2,779,000	-832,000	-4,199,000	-102,000	-2,684,000	2,657,000	281,000	-87,000	515,000	-4,534,000	-5,354,000	1,269,000	1,311,000	2,187,000	6,966,000	4,397,000	-337,000	-661,000	-2,432,000	2,693,000	145,000	-1,579,000	1,615,000
cash and cash equivalents at beginning of period															0	0	188,419,000	0	0	0	180,686,000	0	0	0	28,036,000	0	0	0	3,485,000	0	0	0	6,600,000	0	0	0	9,055,000	0	0	0	8,024,000	0	0	0	10,167,000	0	0	0	10,015,000	0	0	0	19,475,000	0	0	0	7,742,000	0	0	0	6,781,000	0	0	0	3,907,000
cash and equivalents at end of period															-61,096,000	-12,607,000	163,207,000		115,075,000	-87,904,000	173,122,000		-3,020,000	-1,314,000	60,089,000		-11,714,000	54,519,000	4,142,000		-2,861,000	2,916,000	5,762,000		-2,109,000	-2,188,000	5,470,000		-2,491,000	-396,000	5,770,000		-2,779,000	-832,000	5,968,000
other current liabilities
cash paid for acquisition																0	-1,212,000
net decrease in cash and cash equivalents																-12,607,000	-25,212,000													-2,332,000	-2,861,000	2,916,000	-838,000		-2,109,000	-2,188,000	-3,585,000		-2,491,000	-396,000	-2,254,000
debt-related accretion in interest expense
proceeds from sale of product line
payments of bank borrowing
proceeds from bank borrowing
payment of contingent consideration
cash and cash equivalents at end of period																																														-102,000	-2,684,000			-87,000	515,000	-4,534,000	14,121,000	1,269,000	1,311,000	2,187,000	14,708,000	4,397,000	-337,000	-661,000	4,349,000	2,693,000	145,000	-1,579,000	5,522,000
settlement of working capital for acquisitions																							19,000
depreciation, amortization and accretion																					3,990,000		3,452,000	3,558,000	3,142,000		1,872,000	2,109,000	1,012,000		1,212,000	1,217,000	1,062,000		953,000	954,000	898,000		1,608,000	829,000	777,000	788,000	-28,000	1,167,000	1,143,000
payments of long-term debt																					-163,000	-158,000	-158,000	-159,000	-154,000					-235,000	-49,000	-48,000	-48,000	-49,000	-46,000	-46,000	-46,000	-30,000	-62,000	-45,000	-44,000	-44,000	-43,000	-43,000	-43,000	-36,000	-47,000	-27,000	-55,000	-40,000	-41,000	-39,000	-39,000	-28,000	-501,000	-486,000	-485,000	-486,000	-408,000	-409,000	-409,000	-408,000	-333,000	-331,000	-332,000
proceeds from notes payable, net of issuance costs																						0	-130,000	0	115,916,000	0	0
net increase in operating activities																					-7,564,000
supplemental non-cash investing and financing flow information:
income taxes, net of refunds																					5,000						0										39,000	-84,000	247,000	131,000	420,000	158,000	50,000	-52,000	154,000													13,000	-61,000	-7,000	160,000	-578,000	76,000	609,000	29,000
depreciation, amortization, and accretion
acquisitions, net of cash acquired
net cash from provided by investing activities
proceeds from stock issuance, net of issuance costs
payments of bank borrowings																											0
proceeds from bank borrowings																											0
interest																									953,000		0	38,000	115,000				75,000				6,000	45,000	28,000	13,000	8,000	43,000	52,000	57,000	54,000	66,000	21,000	25,000	17,000	18,000	16,000	13,000	13,000	5,000	22,000	21,000	21,000	154,000	61,000	34,000	81,000	90,000	186,000	106,000	95,000
additions to right-of-use assets and operating lease liabilities
provision for bad debts																										137,000	296,000	290,000	107,000	312,000	179,000	214,000	100,000	1,000	-13,000	203,000	112,000	-121,000	125,000	212,000	185,000	346,000	150,000	126,000	150,000	176,000	31,000	-37,000	242,000	331,000	152,000	43,000	190,000	108,000	-39,000	-20,000	160,000	-234,000	30,000	110,000	218,000	168,000	479,000	164,000	323,000
equity based compensation																										868,000	988,000	602,000	248,000	285,000	323,000	250,000	181,000	350,000	63,000	61,000	177,000	71,000	191,000	141,000	66,000	0	214,000	28,000	245,000	198,000	185,000	279,000	523,000	272,000	197,000	64,000	-346,000	115,000	134,000	235,000	165,000	161,000	203,000	194,000	37,000	124,000	199,000	32,000	-19,000
change in fair value of contingent consideration
customer deposits																																										-120,000	-2,675,000	-2,065,000	3,798,000	1,172,000	422,000	-241,000	-79,000	132,000	53,000	1,000	-495,000	617,000	49,000	63,000	-486,000	-110,000	291,000	-271,000	-1,059,000	1,380,000	-331,000	-465,000	-80,000
proceeds from sale of business																																																						0	0	0	4,000,000
payment of contingent consideration for brink earn out																										0	0	0	-2,550,000
payments on bank borrowing
proceeds on bank borrowing
proceeds from stock awards
treasury stock acquired from employees
acquisition
proceeds from real estate
additions to right-of-use assets and deferred rent obtained from operating lease liabilities																											-311,000	-358,000	3,717,000
proceeds from stock options																												213,000	30,000		18,000
payments of other borrowings																													-16,777,000	-21,549,000	-18,862,000	-8,059,000	-2,000,000	-5,500,000	-2,550,000	-9,150,000	-5,000,000	-52,658,000	-54,415,000	-54,095,000	-53,812,000			2,049,000	-3,773,000
proceeds from other borrowings																													25,097,000	22,403,000	19,986,000	9,950,000	5,000,000	5,000,000	3,000,000	9,150,000	6,000,000	47,863,000	59,210,000	54,095,000	53,812,000					-982,000
(income) from discontinued operations
income tax receivable/																																		144,000	-144,000	0	261,000	209,000	-259,000	-138,000	-352,000
net cash from operating activities-continuing operations																														-1,873,000	-2,565,000			7,165,000	-1,180,000	-4,903,000	-1,230,000	13,733,000	-3,421,000	2,022,000	-982,000	-68,000				3,245,000	-2,755,000	3,862,000	1,909,000	1,798,000	2,679,000	-3,196,000	-4,115,000	1,418,000	2,540,000	3,655,000	7,487,000
net cash from operating activities-discontinued operations																																						80,000	-137,000	-138,000	-161,000	-1,043,000								0			-37,000	708,000	-82,000	-87,000	-2,281,000
proceeds from sale of real estate
proceeds from note receivable																																		0	0
proceeds from exercise of stock awards
income from discontinued operations																																					183,000
income tax receivable
deferred tax equity based compensation																																					12,000	-33,000	-3,000			6,000	-5,000	44,000	-105,000
loss from discontinued operations																																		-41,000	0			694,000	0			407,000								0	5,000	191,000	15,000	23,000	-50,000	10,000	-1,430,000
insurance recovery of investment
working capital adjustment paid
payments for deferred acquisition obligations																																						0
acquisition related consideration paid																																							0
less cash and cash equivalents of discontinued operations at end of period
cash and cash equivalents of continuing operations at end of period																																			-2,109,000	-2,188,000	5,470,000	6,172,000	-2,491,000	-396,000	5,770,000
insurance (recovery) loss on investment
deferred service revenue																																						-872,000				-450,000	-2,779,000	-2,460,000	5,940,000	-1,738,000	-1,488,000	-364,000	4,115,000	-1,543,000	-923,000	-153,000	2,267,000	-359,000	-2,032,000	1,979,000	2,522,000	2,711,000	-1,438,000	-380,000	-233,000	2,540,000	-970,000	-1,656,000	-289,000
investment expenditure
net cash from investing activities-continuing operations																																						-2,399,000	-1,515,000	-2,200,000	-981,000	13,455,000								-1,810,000	-1,875,000	-1,258,000	-845,000	-964,000	-637,000	-723,000	2,077,000
net cash from investing activities-discontinued operations																																										-201,000
supplemental disclosures of non-cash information:
sale of business through note receivable
proceeds of stock awards
proceeds (repurchase) of stock awards
tax benefit of equity based compensation																																									37,000
loss on investment
payments for acquisition, net of cash acquired
acquisition through notes payable
contingent consideration payable in connection with acquisition
income tax payable																																											-50,000	52,000	-154,000								-258,000
proceeds of other borrowings
proceeds and excess tax benefits from stock awards																																												0	-1,000
net cash from financing activities-continuing operations																																																		-40,000	-43,000	16,000	-40,000	-29,000	-503,000	-482,000	-462,000
net cash from financing activities-discontinued operations
less cash and equivalents of discontinued operations at end of period
cash and equivalents of continuing operations at end of period																																															-2,684,000	2,657,000	10,296,000	-87,000	515,000	-4,534,000	14,121,000	1,269,000	1,311,000	2,187,000	14,708,000
income tax receivable/payable																																															-178,000	-176,000	-265,000		-311,000
other liabitilies
payments for acquisition
proceeds from the exercise of stock options																																															10,000	1,000	2,000	0	-2,000	55,000	-1,000	-1,000	-2,000	4,000	23,000	1,000	0	118,000	14,000	-17,000	201,000	107,000	238,000
income taxes, net of																																															176,000	148,000	268,000	339,000	300,000	465,000	269,000	78,000	130,000	49,000	-4,000
impairment of goodwill and intangible assets																																																										0	0
income tax refunds/payable																																																						584,000	-130,000	-47,000	2,000
sale of investments																																																						0
escrow																																																						128,000	191,000
net cash from financing activities-discontinuing operations
purchase of investments
maturity of investments
adjustments to reconcile net income to net cash fromoperating activities:
adjustments to reconcile net income to net cash from
operating activities:
unrealized gain on investments																																																									-361,000
see accompanying notes to consolidated financial statements
adjustments to reconcile net loss to net cash from
net borrowings under line-of-credit agreements
net borrowings (payments) under line-of-credit agreements
purchases of investments																																																									-750,000
contingent purchase price paid on prior year acquisitions																																																														0	0	0	-33,000
purchase of treasury stock																																																														0
adjustments to reconcile net income to net cashprovided by operating activities:
income tax refunds																																																											342,000	-67,000	-160,000	1,101,000	259,000	-1,104,000	30,000
contingent purchase price paid on prior acquisitions
net borrowings (repayments) under line-of-credit agreements																																																											-1,500,000	-1,850,000	4,850,000
see notes to unaudited interim consolidated financial statements
adjustments to reconcile net income to net cashfrom operating activities:
cash received from voluntary conversion of long-lived other assets
excess tax benefit of stock option exercises
net repayments under line-of-credit agreements																																																															-200,000	700,000	-2,000,000
adjustments to reconcile net income to net cash provided by (used in) operating activities:

PAR Technology Corporation(NYSE:PAR)

PAR Technology Corporation
(NYSE:PAR)