The following is a summary of the Olo Inc. (OLO) Q3 2024 Earnings Call Transcript:
Financial Performance:
Olo Inc. reported Q3 2024 total revenue of $71.9 million, a 24% increase year-over-year.
ARPU for Q3 was $850, marking a 15% increase year-over-year.
Operating income for the quarter was $8.2 million, showing strong performance with continued expense discipline.
Business Progress:
Olo has successfully integrated deeper partnerships and expanded product suites, notably with ezCater.
Achieved the full-year target for net new locations one quarter ahead of schedule, adding about 3,000 locations in Q3, reaching approximately 85,000 active locations.
Launched Olo Pay card-present functionality and anticipates pilots with enterprise and emerging enterprise brand customers on multiple platforms.
Opportunities:
Expansion into card-present payments expected to access greater GMV, driving potential substantial growth in payment processing volumes.
Risks:
The go-to-market function needs a solid leader following Chief Revenue Officer's departure, which may affect sales and customer relations.
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