Olo Inc. - OLO STOCK NEWS

Olo Inc. (NYSE: OLO) will release its Q2 fiscal year 2022 financial results on August 11, 2022, after U.S. market close. Following the announcement, the company will host a conference call at 5:00 p.m. Eastern Time to discuss its financial results and guidance. Olo, a leader in open SaaS for restaurants, supports millions of daily orders through its on-demand commerce engine, providing flexible technology integrations and enhancing digital hospitality for over 600 restaurant brands.

Olo Inc. (NYSE:OLO), a leader in on-demand commerce for the restaurant industry, announced participation in several investor conferences. Key presentations include the J.P. Morgan Global Technology, Media and Communications Conference on May 23, 2022, at 3:10 p.m. ET in Boston, MA; the Bernstein Strategic Decision Conference on June 1, 2022, at 4:30 p.m. ET in New York, NY; and the William Blair Growth Stock Conference on June 6, 2022, at 2:00 p.m. CT in Chicago, IL. Webcasts will be available on Olo's investor relations website.

Olo Inc (NYSE: OLO) has appointed Diego Panama as Chief Revenue Officer, effective July 5, 2022, succeeding Marty Hahnfeld, who will retire on June 30, 2022. Panama brings extensive experience from LiveRamp, where he grew revenues from under $50 million to over $500 million. His appointment is expected to enhance Olo's sales and marketing initiatives and strengthen relationships with restaurant partners. Hahnfeld has been pivotal in growing Olo's customer base to over 600 restaurants since 2013 and will continue as an advisor until the end of 2022.

Olo Inc. (NYSE:OLO) reported an 18% year-over-year revenue growth to $42.8 million for Q1 2022, driven by increased transaction volume and expanded product offerings. Despite a gross profit increase of 2% to $30 million, the company incurred an operating loss of $12.9 million. Notably, the net loss improved to $11.5 million ($0.07 per share) from the previous year's $26.5 million ($0.63 per share). The company also completed the acquisition of Omnivore Technologies, enhancing its partner network to over 300 providers. Looking forward, Olo expects Q2 revenue between $45.5 million and $46 million.

Cartwheel, a delivery management platform, has raised $3 million in seed funding led by Moonshots Capital. This capital will enhance product development, partner integrations, and company expansion. Over the past year, Cartwheel has tripled its customer base, now serving over 8,000 establishments, including top brands like Portillo's and P.F. Chang's. The platform offers a Hybrid Delivery model allowing businesses to manage in-house and outsourced deliveries efficiently. Cartwheel's solutions are designed to optimize delivery management, making it a leader in its field.

Olo Inc. (NYSE: OLO) will announce its first quarter fiscal year 2022 financial results on May 10, 2022, after U.S. markets close. The company will hold a conference call at 5:00 p.m. Eastern Time the same day to discuss the results and provide financial guidance. Olo is recognized for its on-demand commerce platform facilitating the digital transformation of the restaurant industry, supporting over 500 restaurant brands and integrating with over 300 technology partners.

SOCi and Olo have entered a strategic partnership to enhance digital menu management and localized data solutions for the restaurant industry. This collaboration will integrate Olo's API with SOCi, enabling restaurant brands to manage vital location data across multiple directories from a single platform. Updates to critical information, such as name, address, and phone number, will be streamlined, enhancing visibility on platforms like Google and Yelp. This partnership aims to simplify workflows for multi-location restaurants, providing insights that can improve marketing strategies.

Olo (NYSE: OLO) has appointed David Cancel to its Board of Directors effective March 25, 2022. Cancel, co-founder and CEO of Drift, brings over 25 years of experience in enterprise SaaS and product innovation. His appointment is expected to enhance Olo's strategic product development amidst the restaurant industry's digital transformation. Concurrently, James D. Robinson IV, a board member since March 2008, is stepping down, having contributed significantly to Olo's growth and public transition.

Olo (NYSE: OLO) announces integration with Radar, a geofencing technology platform, aimed at enhancing digital order fulfillment in the restaurant industry. The new partnership will facilitate trip tracking, minimizing pick-up and delivery wait times and improving kitchen operations. CEO Noah Glass emphasizes the importance of enhancing the off-premise experience to stay competitive. CKE Restaurants highlights its strategic focus on customer experience through Olo and Radar's integrated solutions. This collaboration positions Olo to better serve marquee brands and elevate consumer satisfaction.