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Jun 30, 2023
Olo Q2 2023 Earnings Report
Olo's revenue increased, driven by ARPU expansion and module adoption.
Key Takeaways
Olo Inc. reported a 21% year-over-year increase in total revenue, reaching $55.3 million. The company's ARPU grew by 32% year-over-year to $716, with net revenue retention at approximately 115%. The platform supported approximately 77,000 active locations.
Total revenue increased 21% year-over-year to $55.3 million.
Gross profit increased 11% year-over-year to $34.5 million, representing 62% of total revenue.
Non-GAAP operating income was $4.5 million, or 8% of total revenue, compared to $2.0 million a year ago.
ARPU increased 32% year-over-year to approximately $716.
Forward Guidance
Olo is issuing the following outlook for the third quarter and fiscal year of 2023: For the third quarter of 2023, Olo expects to report revenue in the range of $56.0 million to $56.5 million; and Non-GAAP operating income in the range of $5.1 million to $5.5 million. For the fiscal year 2023, Olo expects to report revenue in the range of $220.0 million to $221.0 million; and Non-GAAP operating income in the range of $17.0 million to $17.8 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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