By Exec Edge Editorial Staff
Olo Inc. (NYSE: OLO) said revenue surged in the first quarter on average revenue per unit growth.
Total revenue for the open SaaS platform for restaurants was $52.2 million in the quarter, a 22 percent increase year-over-year, it said.
Increased module adoption within Olo’s customer base and new customers deploying with multi-modules, also boosted revenue, the company said.
For 2023, Olo expects revenue in the range of $215.8 million to $217.3 million, it said.
“We’re proud of our results this quarter and believe the first quarter updates are indicative of the role Olo will continue to play in shaping the restaurant of the future for our customers and the strong business opportunity ahead as the industry continues on a path to 100% digital, or every transaction on- and off-premise being a digital transaction,” said Noah Glass, Olo’s Founder and CEO.
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