10:39 AM EDT, 05/09/2024 (MT Newswires) -- PAR Technology ( PAR ) shares were down more than 12% Thursday after the company posted lower-than-expected Q1 results.

The company reported a Q1 adjusted loss of $0.36 per diluted share, compared with $0.46 loss a year earlier.

Analysts polled by Capital IQ expected an adjusted loss of $0.30 per share.

Revenue for the quarter ended March 31 was $105.5 million, compared with $100.4 million a year earlier.

Analysts polled by Capital IQ expected $110.5 million.

Price: 39.64, Change: -5.13, Percent Change: -11.46