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Side-by-side financial comparison of PAR TECHNOLOGY CORP (PAR) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
Riot Platforms, Inc. is the larger business by last-quarter revenue ($152.8M vs $120.1M, roughly 1.3× PAR TECHNOLOGY CORP). On growth, PAR TECHNOLOGY CORP posted the faster year-over-year revenue change (14.4% vs 7.2%). PAR TECHNOLOGY CORP produced more free cash flow last quarter ($-12.5M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 30.9%).
PAR Technology Corp is a global provider of point-of-sale systems, restaurant management software, and integrated tech solutions. Its core segments serve food service, hospitality, and government security markets, offering cloud tools to streamline operations, enhance customer experiences, and boost efficiency for enterprise and small-to-medium clients.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
PAR vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.1M | $152.8M |
| Net Profit | — | $-690.7M |
| Gross Margin | 41.2% | — |
| Operating Margin | -15.0% | -447.9% |
| Net Margin | — | -452.0% |
| Revenue YoY | 14.4% | 7.2% |
| Net Profit YoY | — | -606.3% |
| EPS (diluted) | $-0.52 | $-1.89 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $120.1M | $152.8M | ||
| Q3 25 | $119.2M | $180.2M | ||
| Q2 25 | $112.4M | $153.0M | ||
| Q1 25 | $103.9M | $161.4M | ||
| Q4 24 | $105.0M | $142.6M | ||
| Q3 24 | $96.8M | $84.8M | ||
| Q2 24 | $78.2M | $70.0M | ||
| Q1 24 | $70.1M | $79.3M |
| Q4 25 | — | $-690.7M | ||
| Q3 25 | $-18.2M | $104.5M | ||
| Q2 25 | $-21.0M | $219.5M | ||
| Q1 25 | $-24.4M | $-296.4M | ||
| Q4 24 | — | $136.4M | ||
| Q3 24 | $-19.8M | $-154.4M | ||
| Q2 24 | $54.2M | $-84.4M | ||
| Q1 24 | $-18.3M | $211.8M |
| Q4 25 | 41.2% | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 45.4% | — | ||
| Q1 25 | 46.5% | — | ||
| Q4 24 | 42.9% | — | ||
| Q3 24 | 44.5% | — | ||
| Q2 24 | 41.0% | — | ||
| Q1 24 | 37.2% | — |
| Q4 25 | -15.0% | -447.9% | ||
| Q3 25 | -14.8% | 44.4% | ||
| Q2 25 | -15.4% | — | ||
| Q1 25 | -15.2% | -144.9% | ||
| Q4 24 | -15.6% | — | ||
| Q3 24 | -15.7% | -143.3% | ||
| Q2 24 | -26.5% | -167.2% | ||
| Q1 24 | -38.2% | — |
| Q4 25 | — | -452.0% | ||
| Q3 25 | -15.3% | 58.0% | ||
| Q2 25 | -18.7% | 143.4% | ||
| Q1 25 | -23.4% | -183.6% | ||
| Q4 24 | — | 95.7% | ||
| Q3 24 | -20.5% | -182.1% | ||
| Q2 24 | 69.3% | -120.6% | ||
| Q1 24 | -26.1% | 267.1% |
| Q4 25 | $-0.52 | $-1.89 | ||
| Q3 25 | $-0.45 | $0.26 | ||
| Q2 25 | $-0.52 | $0.58 | ||
| Q1 25 | $-0.60 | $-0.90 | ||
| Q4 24 | $-0.56 | $0.39 | ||
| Q3 24 | $-0.56 | $-0.54 | ||
| Q2 24 | $1.60 | $-0.32 | ||
| Q1 24 | $-0.62 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $80.1M | $233.5M |
| Total DebtLower is stronger | $394.0M | $840.8M |
| Stockholders' EquityBook value | $825.1M | $2.9B |
| Total Assets | $1.4B | $3.9B |
| Debt / EquityLower = less leverage | 0.48× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.1M | $233.5M | ||
| Q3 25 | $93.0M | $330.7M | ||
| Q2 25 | $85.7M | $255.4M | ||
| Q1 25 | $92.2M | $163.7M | ||
| Q4 24 | $108.6M | $277.9M | ||
| Q3 24 | $118.4M | $355.7M | ||
| Q2 24 | $142.5M | $481.2M | ||
| Q1 24 | $72.5M | $688.5M |
| Q4 25 | $394.0M | $840.8M | ||
| Q3 25 | $393.4M | $5.3M | ||
| Q2 25 | $392.8M | $5.3M | ||
| Q1 25 | $392.3M | $5.3M | ||
| Q4 24 | $368.4M | $584.6M | ||
| Q3 24 | $466.7M | $5.7M | ||
| Q2 24 | $378.7M | — | ||
| Q1 24 | $378.2M | — |
| Q4 25 | $825.1M | $2.9B | ||
| Q3 25 | $838.0M | $3.5B | ||
| Q2 25 | $859.1M | $3.3B | ||
| Q1 25 | $852.0M | $2.9B | ||
| Q4 24 | $871.7M | $3.1B | ||
| Q3 24 | $692.7M | $2.7B | ||
| Q2 24 | $588.3M | $2.6B | ||
| Q1 24 | $526.4M | $2.5B |
| Q4 25 | $1.4B | $3.9B | ||
| Q3 25 | $1.4B | $4.5B | ||
| Q2 25 | $1.4B | $4.3B | ||
| Q1 25 | $1.4B | $3.7B | ||
| Q4 24 | $1.4B | $3.9B | ||
| Q3 24 | $1.3B | $2.9B | ||
| Q2 24 | $1.1B | $2.7B | ||
| Q1 24 | $1.0B | $2.6B |
| Q4 25 | 0.48× | 0.29× | ||
| Q3 25 | 0.47× | 0.00× | ||
| Q2 25 | 0.46× | 0.00× | ||
| Q1 25 | 0.46× | 0.00× | ||
| Q4 24 | 0.42× | 0.19× | ||
| Q3 24 | 0.67× | 0.00× | ||
| Q2 24 | 0.64× | — | ||
| Q1 24 | 0.72× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-11.8M | $-572.9M |
| Free Cash FlowOCF − Capex | $-12.5M | $-774.3M |
| FCF MarginFCF / Revenue | -10.4% | -506.6% |
| Capex IntensityCapex / Revenue | 0.7% | 131.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-30.5M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.8M | $-572.9M | ||
| Q3 25 | $8.4M | $-114.0M | ||
| Q2 25 | $-6.6M | $-231.3M | ||
| Q1 25 | $-17.2M | $-122.1M | ||
| Q4 24 | $3.4M | $-255.1M | ||
| Q3 24 | $8.8M | $-56.3M | ||
| Q2 24 | $-13.8M | $-42.5M | ||
| Q1 24 | $-23.6M | $-57.9M |
| Q4 25 | $-12.5M | $-774.3M | ||
| Q3 25 | $7.0M | $-139.7M | ||
| Q2 25 | $-7.4M | $-291.7M | ||
| Q1 25 | $-17.6M | $-154.9M | ||
| Q4 24 | $3.2M | $-495.4M | ||
| Q3 24 | $8.4M | $-127.6M | ||
| Q2 24 | $-14.2M | $-96.1M | ||
| Q1 24 | $-23.6M | $-115.2M |
| Q4 25 | -10.4% | -506.6% | ||
| Q3 25 | 5.9% | -77.5% | ||
| Q2 25 | -6.6% | -190.7% | ||
| Q1 25 | -16.9% | -96.0% | ||
| Q4 24 | 3.0% | -347.5% | ||
| Q3 24 | 8.7% | -150.5% | ||
| Q2 24 | -18.2% | -137.2% | ||
| Q1 24 | -33.7% | -145.2% |
| Q4 25 | 0.7% | 131.8% | ||
| Q3 25 | 1.1% | 14.3% | ||
| Q2 25 | 0.7% | 39.5% | ||
| Q1 25 | 0.4% | 20.4% | ||
| Q4 24 | 0.2% | 168.6% | ||
| Q3 24 | 0.4% | 84.1% | ||
| Q2 24 | 0.5% | 76.5% | ||
| Q1 24 | 0.1% | 72.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.26× | — | ||
| Q1 24 | — | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAR
| Subscription Service | $76.1M | 63% |
| Hardware | $27.8M | 23% |
| Professional Service | $16.2M | 13% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
