Olo Inc - OLO STOCK NEWS

Olo (NYSE:OLO) announced a strategic partnership with FreedomPay and expanded collaboration with Stripe to enhance in-store payment processing capabilities for restaurants. The integration will enable Olo Pay to process card-present transactions through FreedomPay's payment gateway, which is already integrated with over 1,000 POS systems.

The partnership aims to unify digital and in-store transaction data, providing restaurants with comprehensive guest profiles. Currently, about 18% of restaurant transactions are digital, and this expansion will allow Olo to process the remaining 82% of on-premise transactions. The integration offers benefits including consolidated payment processing, improved omnichannel tracking, and enhanced loyalty program effectiveness.

Curbit, an AI-powered kitchen capacity management solution, has partnered with Equator Coffees to optimize their digital ordering system through integration with Olo (NYSE: OLO). The collaboration aims to enhance operational efficiency and customer satisfaction across Equator's eleven retail locations.

The integration enables dynamic updating of brand quote times based on real-time kitchen capacity, providing customers with precise promise times during ordering and real-time SMS updates on order progress. This addresses previous challenges with static quote times that led to operational inefficiencies and customer dissatisfaction.

Curbit, a Gold Partner in Olo's Connect program, leverages real-time operational intelligence to manage kitchen capacity effectively. The partnership focuses on streamlining kitchen operations and improving the guest experience through dynamic order throttling and messaging capabilities.

Grubhub and Olo have expanded their partnership by integrating Grubhub with Olo Dispatch, enabling restaurants to outsource delivery for orders placed through their own websites and apps. This builds upon their existing collaboration where Grubhub orders are sent directly to restaurants' point-of-sale systems via Olo Rails.

Olo Dispatch's automated matching technology selects optimal service providers based on price, timing, and availability, allowing restaurants to deploy delivery at a national scale while maintaining direct customer relationships. The integration complements Grubhub's existing On-Demand Delivery and Supplemental Delivery services.

The partnership aims to help merchants manage delivery operations more efficiently, reduce costs, and meet growing customer demands for digital ordering and delivery across both third-party and owned channels while providing more earning opportunities for Grubhub's delivery partners.

Olo (NYSE:OLO), a leading restaurant technology provider, has announced its participation in the upcoming ICR Conference in Orlando, FL. The company's senior management will deliver a presentation on Tuesday, January 14, 2025, at 2:00 p.m. Eastern Time.

Interested parties can access the presentation through a live webcast, with replays available for a time on Olo's investor relations website under the 'Events' section at investors.olo.com.

Olo Inc. (NYSE:OLO) has launched 'Round Up Donations,' a new feature enabling restaurant guests to round up their order total for charitable causes during checkout. The feature, piloted with Tropical Smoothie Cafe, supports No Kid Hungry and is available to all Olo customers using its Serve platform.

The initiative has shown promising results, with 10% of guests choosing to round up their orders, resulting in over $7,000 raised by Tropical Smoothie Cafe. Both companies have signed No Kid Hungry's CEO Pledge to End Summer Hunger, aiming to increase children receiving summer meals from 2.8 million to 30 million nationwide.

Olo (NYSE:OLO), a leading open SaaS platform for restaurants, has announced its participation in the RBC Global Technology, Internet, Media and Telecommunications Conference in New York. The company's senior management will deliver a presentation on Wednesday, November 20, 2024, at 2:00 p.m. Eastern Time. Interested parties can access the live webcast and -time replays through the 'Events' section on Olo's investor relations website at investors.olo.com.

Bojangles has expanded its catering services by making them available through its website, powered by Olo technology. The new service allows customers to order catering for breakfast, lunch, and dinner at participating locations, with delivery available for orders over $150. The menu features signature items including made-from-scratch biscuits, Bo Rounds, hand-breaded chicken, and Legendary Iced Tea®.

To celebrate the launch, Bojangles introduced 'Bo Time Moments', where customers can share stories for a chance to have their next event catered. The company has already catered several events, including a 105th birthday party and a National Guard deployment dinner. This expansion follows Bojangles' earlier partnership with ezCater, through which the chain offers catering at nearly 600 locations.

Olo (NYSE:OLO), a leading restaurant technology provider, has announced a new integration with ezCater, the top food tech platform for workplaces in the US. This integration aims to simplify catering menu management by automating menu updates across both platforms, saving valuable time for restaurant operators and reducing manual updates. This enhancement is expected to lower human errors and operational overhead, while providing a consistent experience for operators and guests. The partnership is seen as a significant growth opportunity for restaurants, especially as workplace food spending is projected to increase. Notable industry leaders like Mike Nettles of Zaxby's have endorsed the integration, highlighting its potential to streamline operations and improve guest experiences.

Olo Inc. (NYSE: OLO) announced its third-quarter 2024 financial results, reporting a 24% year-over-year revenue increase to $71.9 million. The company's ARPU rose 15%, and ending active locations reached approximately 85,000. Gross profit grew by 13% to $39.0 million, representing 54% of total revenue. Non-GAAP gross profit increased by 12% to $43.6 million, making up 61% of total revenue. Operating loss reduced to $8.5 million from $16.3 million a year ago. Non-GAAP operating income was $8.2 million, up from $5.7 million. Net loss narrowed to $3.6 million, or $0.02 per share, compared to $11.8 million, or $0.07 per share, a year ago. Non-GAAP net income was $10.4 million, or $0.06 per share. Cash and investments totaled $391.9 million. Olo's dollar-based net revenue retention exceeded 120%. The company issued an optimistic outlook for Q4 2024, expecting revenue between $72.5 million to $73.0 million and non-GAAP operating income of $8.7 million to $9.0 million.