By Karen Roman
Restaurant technology provider Olo Inc. (NYSE: OLO) said fourth-quarter revenue increased 21% to $76.1 million year-over-year, beating analysts’ estimates.
Gross profit grew 11% to reach $40.3 million, while non-GAAP net income was $11.3 million, or $0.06 per share, compared to $8.5 million, or $0.05 per share the year prior, it said.
The company also highlighted its partnership with FreedomPay to penetrate the $100+ billion in card-present gross payment volume within its existing base.
Olo said it projects FY 2025 revenue to be in the range of $333 million to $336 million and non-GAAP operating income to be between $45.5 million to $47.0 million.
“Team Olo put together a fantastic 2024 that included strong financial performance, new and expansion deployments with marquee restaurant brands, and platform reliability and innovation that powered $29 billion in gross merchandise volume and $2.8 billion in gross payment volume for the year,” said Noah Glass, Olo’s founder and CEO.
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