We often hear that, while everyone is now in the cloud, it might be easier for customers to stick with their legacy providers and move to their cloud solutions rather than face the disruption of switching to a new provider. There are many reasons to switch, though. Even legacy providers' cloud solutions are often just one or two products, not the comprehensive, better-together solution that companies like Toast and PAR provide. I'm questioning whether the logic of sticking with legacy providers makes sense. You mentioned you enjoy competing with legacy companies, whether they're selling new or old products.

I don't think that logic makes much sense. If I were an investor in PAR, I would focus on innovating their drive-thru product. Not many companies do enterprise drive-thru well. Out of the 875,000 restaurants, about 200,000 are enterprise-level, primarily the top 10 or 12 brands like McDonald's, Burger King, and Starbucks. Companies like Toast will target these brands. Brink has an advantage with its established drive-thru solutions, but they're not innovating. Look at Chick-fil-A with handheld devices and two lines, or Taco Bell's drive-thru of the future. That's where PAR needs to tell a better story, like implementing license plate recognition to anticipate orders. I've had conversations with enterprise brands seeking this next-level innovation. That's where they should be focusing.