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Mar 31, 2023
Olo Q1 2023 Earnings Report
Olo's first quarter revenue increased by 22% year-over-year, driven by ARPU expansion and increased transaction volume.
Key Takeaways
Olo Inc. reported a 22% year-over-year increase in total revenue, reaching $52.2 million in the first quarter of 2023. This growth was driven by continued momentum in average revenue per unit (ARPU) growth and increased module adoption within the existing customer base.
Total revenue increased 22% year-over-year to $52.2 million.
Gross profit increased 13% year-over-year to $33.5 million, representing 64% of total revenue.
Non-GAAP net income was $4.6 million, or $0.03 per share, compared to $1.7 million, or $0.01 per share a year ago.
Average revenue per unit (ARPU) increased 22% year-over-year to approximately $632.
Forward Guidance
Olo is issuing the following outlook for the second quarter of 2023 and fiscal year 2023.
Positive Outlook
- Revenue in the range of $53.0 million to $53.5 million for the second quarter of 2023.
- Non-GAAP operating income in the range of $2.0 million to $2.4 million for the second quarter of 2023.
- Revenue in the range of $215.8 million to $217.3 million for the fiscal year 2023.
- Non-GAAP operating income in the range of $12.0 million to $13.2 million for the fiscal year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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