U.S. markets closed
  • S&P 500

    4,026.12
    -1.14 (-0.03%)
     
  • Dow 30

    34,347.03
    +152.97 (+0.45%)
     
  • Nasdaq

    11,226.36
    -58.96 (-0.52%)
     
  • Russell 2000

    1,869.19
    +5.67 (+0.30%)
     
  • Crude Oil

    76.28
    -1.66 (-2.13%)
     
  • Gold

    1,754.00
    +8.40 (+0.48%)
     
  • Silver

    21.43
    +0.06 (+0.29%)
     
  • EUR/USD

    1.0405
    -0.0008 (-0.07%)
     
  • 10-Yr Bond

    3.6910
    -0.0150 (-0.40%)
     
  • GBP/USD

    1.2091
    -0.0023 (-0.19%)
     
  • USD/JPY

    139.1000
    +0.5100 (+0.37%)
     
  • BTC-USD

    16,593.71
    +81.17 (+0.49%)
     
  • CMC Crypto 200

    386.97
    +4.32 (+1.13%)
     
  • FTSE 100

    7,486.67
    +20.07 (+0.27%)
     
  • Nikkei 225

    28,283.03
    -100.06 (-0.35%)
     

Olo Reports 27% Rise in 2Q Revenue on New Brands, Adoption, Transactions

By Exec Edge Editorial Staff

Restaurant and hospitality SaaS provider Olo Inc. (NYSE: OLO) reported a surge in second-quarter revenue on growth in new brands, increased module adoption within its existing customer base, and increased transaction volume.

Total revenue increased 27% year-over-year to $45.6 million, with non-GAAP gross profit rising 15% year-over-year to $34.0 million, or 75% of total revenue.

“We delivered solid second quarter results. We generated $45.6 million in total revenue, a 27% increase year-over-year, as our platform supported continued growth in new brands, increased module adoption within our existing customer base, and increased transaction volume,” said Noah Glass, Olo’s Founder and CEO.  “We’re encouraged by the underlying trends in our business in support of Olo’s 100x revenue opportunity as we remain highly focused on helping our brands to thrive and gain share through the industry’s digital transformation.”

For the fiscal year 2022, Olo expects revenue in the range of $183.0 million to $184.0 million and non-GAAP operating income in the range of $7.6 million to $8.4 million.

Contact:

www.executives-edge.com

editor@executives-edge.com