The following is a summary of the Olo Inc. (OLO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Olo reported Q1 revenue of $66.5 million, marking a 27% year-over-year increase.

• Platform revenue in Q1 stood at $65.8 million, up 28% from the previous year.

• Q1's gross profit totalled $41.5 million, compared to the previous year's value of $37.2 million.

• First-quarter ARPU grew 29% year-over-year and 4% sequentially, reaching approximately $816.

• The Q1 operating income of $5.6 million represented a significant rise from $1.2 million a year ago.

Business Progress:

• Active locations increased to 81,000, with the expectation of continued growth throughout the year.

• Olo expects to add an additional 5,000 locations this year.

• Confidence in progress across key strategic priorities led the company to raise its revenue and non-GAAP operating income guidance for 2024.

• The scale of Olo's data asset was expanded to support brands in increasing sales and improving operations.

• The recently authorised 100 million share repurchase program signals the company's financial strength.

• The number of guest accounts on Olo's Borderless Network grew from 1 million to 4 million.

• Continued expansion in partnerships and relationships with point-of-sale providers further enhances Olo's service offerings.

• The professional services team's development received positive customer feedback, projecting its significant role in Olo's future revenue.

More details: Olo Inc IR

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