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Sep 30, 2024
Olo Q3 2024 Earnings Report
Olo's third quarter performance in 2024 showed revenue growth and strategic advancements.
Key Takeaways
Olo Inc. reported a 24% year-over-year increase in total revenue, reaching $71.9 million, driven by winning, retaining, and expanding with brands, along with innovation across its product suites. The company's bottom line performance exceeded the high-end of its guidance ranges, and the number of ending active locations reached approximately 85,000.
Total revenue increased by 24% year-over-year to $71.9 million.
Non-GAAP operating income was $8.2 million, representing 11% of total revenue.
ARPU increased 15% year-over-year to approximately $850.
Ending active locations reached approximately 85,000, up 3,000 from the previous quarter.
Revenue by Segment
Forward Guidance
Olo provided revenue and non-GAAP operating income guidance for Q4 2024 and fiscal year 2024.
Positive Outlook
- Q4 2024 revenue is expected to be in the range of $72.5 million to $73.0 million.
- Q4 2024 non-GAAP operating income is expected to be in the range of $8.7 million to $9.0 million.
- Fiscal year 2024 revenue is expected to be in the range of $281.4 million to $281.9 million.
- Fiscal year 2024 non-GAAP operating income is expected to be in the range of $30.2 million to $30.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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