Eye on POS: ParTech’s 44% Revenue Bump; SoundHound AI’s Three-Fold Growth

Separate efforts by Par Technology Corp. and SoundHound AI Inc. to boost their wins, especially among restaurant clients, appear to be paying off, if their latest earnings are indicators.

ParTech, based in New Hartford, N.Y., is coming off its $132-million acquisition in January of Delaget LLC, a platform providing analytics and business intelligence to the dining industry. ParTech posted revenue of $112.4 million in the second quarter, up 43.7% from $78.2 million in the same quarter in 2024. It posted a loss of $21 million for the most recent quarter, compared with a $54.2 million profit a year prior.

Boosting revenue was a 16% organic increase in annual recurring revenue, aided by an increase in its margin, ParTech says in an investor presentation. It closed the quarter with 176,500 active sites across its two subscription service product lines. Its gross margin percentage for these product lines of 55.3% in the second quarter was up from the 53.1% rate in year-ago quarter.

In its more recent activity, ParTech landed the contract to support a rewards program at convenience-store chain Raceway and in June launched PAR Engagement, a portfolio of products meant to help enterprise restaurants win more customers.

At SoundHound AI, which specializes in voice artificial intelligence and added in July restaurant chain Peter Piper Pizza as a client, posted $42.7 million in second-quarter revenue, up 216.3% from $13.5 million a year ago. Its quarterly loss broadened to $78.1 million from $22 million in the 2024 second quarter.

SoundHound AI attributes the revenue growth to other wins, too, including Red Lobster, Applebee’s, and IHOP, a renewal with MOD Pizza, and several expansions, including Chipotle, McAllister’s Deli, and Casey’s. Outside of restaurants, it also noted new clients in health care, automotive, and financial services.

In February, it launched an updated artificial-intelligence-based ordering platform for restaurants.