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  4. Olo Inc. Shares Plummet 26% Following Q2 Results, Provides Guidance
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Olo Inc. Shares Plummet 26% Following Q2 Results, Provides Guidance

By Davit Kirakosyan Olo Inc (NYSE:OLO) shares plunged 26% after-hours following the company’s reported worse-than-expected Q2 results. Total revenue grew 27% year-over-year to...
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Olo Inc. Shares Plummet 26% Following Q2 Results, Provides Guidance © Reuters. Olo Inc. Shares Plummet 26% Following Q2 Results, Provides Guidance

By Davit Kirakosyan

Olo Inc (NYSE:OLO) shares plunged 26% after-hours following the company’s reported worse-than-expected Q2 results. Total revenue grew 27% year-over-year to $45.6 million.

Platform revenue grew 29% year-over-year to $44.5 million. The average revenue per unit (ARPU) was $544, representing a 12% year-over-year increase. Ending active locations were approximately 82,000, growing 11% year-over-year.

“We’re encouraged by the underlying trends in our business in support of Olo’s 100x revenue opportunity as we remain highly focused on helping our brands to thrive and gain share through the industry’s digital transformation,” said Noah Glass, Olo’s Founder and CEO.

The company expects Q3 revenue to be in the range of $46.5-$47.0 million, and non-GAAP operating income in the range of $1.8-$2.2 million. For the full 2022-year, the company expects revenue to be in the range of $183-$184 million, and non-GAAP operating income in the range of $7.6-$8.4 million.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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-0.0008 (-0.07%)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
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 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
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 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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