Olo Inc - OLO STOCK NEWS

Olo Inc. (NYSE: OLO) reported strong financial results for Q2 2021, with a 48% year-over-year revenue increase to $35.9 million. Platform revenue surged 53% to $34.5 million, while gross profit reached $28.5 million (80% of total revenue). However, the company faced an operating loss of $(2.4) million and a net loss of $(2.4) million compared to a profit last year. Active locations grew 30% to approximately 74,000, and the average revenue per unit increased 13% to $486. Olo anticipates Q3 2021 revenue between $36.0 million and $36.5 million.

On July 27, 2021, OrderSolutions, part of TSD Global, announced a partnership with OLO (NYSE: OLO) to enhance off-premise ordering for restaurants. This alliance aims to address staffing challenges by allowing restaurants to outsource phone orders, thus improving revenue capture from to-go orders. OrderSolutions' trained agents can increase average check sizes by up to 35%, utilizing OLO's technology to integrate directly with restaurant POS systems. Additionally, OrderSolutions plans to launch an AI voice bot with live agent support in Q4 2021.

Olo Inc. (NYSE: OLO) announced it will release its Q2 fiscal 2021 financial results on August 10, 2021, after U.S. market close. A conference call discussing these results will follow at 5:00 p.m. ET, accessible via live webcast on the company's Investor Relations page. Olo is a leading cloud-based commerce platform serving over 400 restaurant brands, facilitating digital ordering and delivery through multiple channels, including websites, apps, and social media.

Olo (NYSE:OLO), a leader in cloud-based, on-demand commerce for restaurants, announces participation in key investor conferences.

Presentations include the J.P. Morgan Global Technology Conference on May 26, the Cowen Digital Dining Summit on May 27, the William Blair Growth Stock Conference on June 2, and the Stifel Cross Sector Insight Conference on June 9, 2021. Each session will be webcast live, with replays available on Olo's investor relations website.

Olo connects over 400 restaurant brands to the on-demand world, streamlining orders through various platforms.

Cartwheel, a delivery management platform for restaurants, has successfully raised $1 million in seed funding led by TenOneTen Ventures, with support from Act One Ventures and Portillo's. The investment aims to enhance product development, partnership integrations, and team expansion. Cartwheel provides a unique self-delivery solution, allowing brands to manage deliveries effectively while reducing costs. Currently used by Portillo's, the system facilitates better brand representation in deliveries. The platform partners with Olo Inc. to bolster its offerings, addressing increasing consumer demand for digital ordering.

Olo Inc. (NYSE:OLO) reported a remarkable first quarter for 2021, with total revenue soaring 125% year-over-year to $36.1 million. The platform revenue increased 136% to $34.9 million, while gross profit surged 150% to $29.3 million, representing 81% of total revenue. However, the net loss widened to $(26.5) million from $(3.0) million a year prior. Active locations grew by 42% to approximately 69,000, and average revenue per unit rose 61% to $525. The company expects second quarter revenue between $33.9 million and $34.4 million and fiscal year 2021 revenue between $140.4 million and $141.9 million.

Yogurtland has partnered with Olo to enhance customer experience by introducing online ordering for delivery, in-store pickup, and catering. The updated mobile app includes new features such as in-app ordering and transaction history. Additionally, Yogurtland has revamped its Real Rewards program, offering two points for every dollar spent, a $5 reward for every 100 points, and bonus points for joining. This initiative coincides with Yogurtland's 15th anniversary, aiming to connect with customers digitally and provide a more convenient way to enjoy their frozen yogurt.

Olo Inc. (NYSE: OLO) will release its first quarter fiscal year 2021 financial results on May 11, 2021, after market close. Following the announcement, a conference call will be held the same day at 5:00 p.m. ET to discuss the results and financial guidance. The call can be accessed domestically at (833) 759-1158 and internationally at (639) 380-0135, with a conference ID of 7696668. A replay will be available until May 18, 2021. Olo connects over 400 restaurant brands to the on-demand world through digital ordering and delivery programs, enhancing their operational efficiency.

Olo and DoorDash have finalized a multi-year agreement, resolving their contract dispute and enabling continued collaboration. The new deal aims to enhance product offerings and deliver value to their shared network of merchants. Both companies have agreed to settle and dismiss all legal claims raised by DoorDash. Olo's Chief Customer Officer emphasized their commitment to serving the restaurant industry through this partnership.