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Jun 30, 2021
Olo Q2 2021 Earnings Report
Revenue grew, driven by growth in active locations and transaction volume.
Key Takeaways
Olo Inc. announced strong second-quarter results with a 48% year-over-year increase in total revenue to $35.9 million. The company's platform revenue grew by 53%, and gross profit increased by 42%. Olo continued to expand its platform capabilities and added new partners and brands.
Total revenue increased 48% year-over-year to $35.9 million.
Platform revenue increased 53% year-over-year to $34.5 million.
Gross profit increased 42% year-over-year to $28.5 million, representing 80% of total revenue.
Ending active locations increased 30% year-over-year to approximately 74,000.
Forward Guidance
Olo provided revenue and non-GAAP operating income guidance for Q3 2021 and fiscal year 2021.
Positive Outlook
- Revenue in the range of $36.0 million to $36.5 million for Q3 2021.
- Non-GAAP operating income in the range of $3.4 million to $3.8 million for Q3 2021.
- Revenue in the range of $144.7 million to $145.7 million for fiscal year 2021.
- Non-GAAP operating income in the range of $18.8 million to $19.6 million for fiscal year 2021.
- Company is focused on the long-term and its investments in sustainable, profitable growth
Challenges Ahead
- Fluctuations in Olo’s operating results may be particularly pronounced in the current economic environment due to the uncertainty caused by the ongoing COVID-19 pandemic
- Olo’s business and financial results could be materially adversely affected in the future if these trends do not continue.
- The situation regarding COVID-19 remains uncertain and could change rapidly
Historical Earnings Impact
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Avg. Return Before/After Earnings
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