Olo Reports Q2 2024 Financial Results

August 1, 2024

DENVER, Colo., Aug 01, 2024 (247marketnews.com)- Olo Inc. (NYSE: OLO) reported its second quarter financial results, which included the following highlights; total revenue increased 28% year-over-year to $70.5 million, 16% gross profit increase, year-over-year, to $39.9 million, and net income of  $5.7 million, or $0.03 per share, compared to a net loss of $17.1 million, or $0.11 per share a year ago.

Olo’s Founder and CEO, Noah Glass, commented, “In Q2, Team Olo delivered another strong quarter of financial and operational performance. We generated revenue and non-GAAP operating income that exceeded the high-end of their respective guidance ranges, added new enterprise and emerging enterprise brands and expanded with existing customers, and announced another POS integration partnership for Olo Pay and Engage that moves Olo closer to supporting full-stack payment processing and data aggregation across off- and on-premise transactions.

“The breadth of our platform and the scale of our network help brands to use omni-channel guest data to drive profitable traffic: a key metric for success in the restaurant business.”

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