Olo Announces 22% Revenue Growth in 3Q 2023
By Karen E. Roman
Olo Inc. (NYSE: OLO), an open SaaS which develops digital platforms for restaurants, said its total revenue increased 22% for the third quarter on a year-over-year basis, ascending to $57.8 million.
Additionally, gross profit grew 9% year-over-year to $34.6 million, representing 60% of its total revenue, the company said.
Olo previously announced new features like Catering+ with House Accounts and an automated dispute response on Olo Pay.
“We continued to land and expand with enterprise and emerging enterprise brands, and drove innovation that helps our customers increase sales and provide superior guest experiences,” said Noah Glass, the company’s founder and CEO. “We believe we are well positioned to help restaurant brands run their businesses more efficiently, and harness the power of guest data to drive more traffic.”
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