Olo Inc. - OLO STOCK NEWS

Olo Inc. has announced a share repurchase program authorizing up to $100,000,000 of its Class A common stock. This initiative demonstrates the company's commitment to shareholder value and aligns with its disciplined capital allocation strategy aimed at balancing long-term growth with profitability. The program reflects the management's confidence in Olo's growth opportunities and the strength of its balance sheet. The buyback plan has no expiration date, allowing for flexibility in execution.

Olo Inc. (NYSE:OLO), a prominent open SaaS platform for restaurants, announced that CEO Noah Glass and CFO Peter Benevides will present at the Piper Sandler Growth Frontiers Conference in Nashville, Tennessee. The presentation is set for Wednesday, September 14, 2022, at 9:30 a.m. Central Time. Interested parties can access a live webcast and a replay on Olo's investor relations website.

Olo’s platform supports millions of orders daily, integrating with over 300 technology partners to enhance digital hospitality and operational efficiency for over 600 restaurant brands.

Olo Inc. (NYSE:OLO) reported a strong second-quarter performance for 2022, with total revenue reaching $45.6 million, marking a 27% increase year-over-year. The platform revenue also grew by 29%, totaling $44.5 million. Despite these gains, the company faced an operating loss of $11.9 million and a net loss of $11.7 million, compared to a smaller net loss of $2.4 million in the previous year. Active locations grew by 11% to approximately 82,000, and the average revenue per unit increased by 12% year-over-year. Olo expects third-quarter revenue between $46.5 million and $47.0 million.

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.