By Exec Edge Editorial Staff
Restaurant and hospitality SaaS provider Olo Inc. (NYSE: OLO) reported a surge in second-quarter revenue on growth in new brands, increased module adoption within its existing customer base, and increased transaction volume.
Total revenue increased 27% year-over-year to $45.6 million, with non-GAAP gross profit rising 15% year-over-year to $34.0 million, or 75% of total revenue.
“We delivered solid second quarter results. We generated $45.6 million in total revenue, a 27% increase year-over-year, as our platform supported continued growth in new brands, increased module adoption within our existing customer base, and increased transaction volume,” said Noah Glass, Olo’s Founder and CEO. “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.”
For the fiscal year 2022, Olo expects revenue in the range of $183.0 million to $184.0 million and non-GAAP operating income in the range of $7.6 million to $8.4 million.
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