Exhibit 99.1 Olo Announces Third Quarter 2024 Financial Results Revenue up 24%, ARPU up 15% Year-over-Year Ending Active Locations Reach Approximately 85,000 New York, New York - November 7, 2024 - Olo Inc. (NYSE:OLO) ("Olo" or the "Company"), a leading open SaaS platform for restaurants, today announced financial results for the third quarter ended September 30, 2024. "Team Olo executed well on our top priorities in the third quarter and positioned us to complete a successful 2024. We continued to win, ret ...

Investors might want to bet on Olo Inc. (OLO) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Individual ...

Olo Inc. (OLO) shares have jumped 10.6% in the past three months, outpacing the Zacks Internet - Software Industry and the S&P 500 index's return of 3.3% and 2.4%, respectively. The stock has also outperformed the Zacks Computer and Technology Sector, which has declined 3.6% over the same time frame. This outperformance reflects investors' optimism over Olo's prospects following its back-to-back quarters of strong quarterly performance. Over the past four quarters, its top line has surpassed the Zacks Conse ...

Olo Inc. (OLO) closed the last trading session at $5.45, gaining 13.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $8.60 indicates a 57.8% upside potential. The average comprises five short-term price targets ranging from a low of $8 to a high of $10, with a standard deviation of $0.89. While the lowest estimate indicates an increase of 46.8% from the current price level, the m ...

Shares of Olo Inc. (OLO) have gained 19% over the past four weeks to close the last trading session at $5.08, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $8.40 indicates a potential upside of 65.4%. The average comprises five short-term price targets ranging from a low of $7 to a high of $10, with a standard deviation of $1.14. While the lowest estimate indicates an increase ...

Olo Inc. (OLO) reported $70.5 million in revenue for the quarter ended June 2024, representing a year-overyear increase of 27.6%. EPS of $0.05 for the same period compares to $0.04 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $67.81 million, representing a surprise of +3.98%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.05. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expec ...

Olo Inc. (OLO) came out with quarterly earnings of $0.05 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.05, delivering no surprise. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Olo, which belongs to the Zacks Internet ...

Financial Performance - Gross merchandise volume (GMV) reached over $26 billion and gross payment volume (GPV) reached $1 billion for the year ended December 31, 2023[87]. - Total revenue for Q2 2024 was $70.5 million, up 27.5% from $55.3 million in Q2 2023[118]. - Platform revenue for Q2 2024 reached $69.6 million, a 27.5% increase from $54.6 million in Q2 2023[118]. - Total revenue for the three months ended June 30, 2024, increased by $15.3 million, or 27.6%, to $70.5 million compared to $55.3 million for the same period in 2023[122]. - Platform revenue rose by $15.0 million, or 27.5%, to $69.6 million, driven by increased Olo Pay adoption and higher transaction volume[123]. - Gross profit for Q2 2024 was $39.9 million, representing a gross margin of 56.6%, down from 62.4% in Q2 2023[120]. - Gross profit increased by $5.4 million to $39.9 million, while gross margin decreased to 56.6% from 62.4% due to higher transaction processing costs[129]. - Net income for Q2 2024 was $5.7 million, compared to a net loss of $17.1 million in Q2 2023[118]. - Total gross profit rose by $9.2 million to $77.1 million for the six months ended June 30, 2024, from $68.0 million in the same period of 2023, while gross margin decreased to 56.3% from 63.2%[144]. Customer Metrics - Olo's platform processes over 2 million orders daily, with more than 85 million guests transacting on the platform in the past year[86]. - The number of active locations increased to 82,000 as of June 30, 2024, compared to 77,000 in the previous year[98]. - Dollar-based net revenue retention exceeded 120% for the quarter ended June 30, 2024, indicating strong customer retention and expansion[99]. - The company aims to add new large multi-location and high-growth restaurant brands to its customer base, building on its existing 700 brands[101]. Expenses and Cost Management - Operating expenses for Q2 2024 totaled $38.9 million, a decrease from $55.6 million in Q2 2023, primarily due to restructuring charges[118]. - Research and development expenses for Q2 2024 were $17.0 million, accounting for 24.1% of total revenue, down from 33.1% in Q2 2023[120]. - General and administrative expenses decreased by $9.8 million, or 53.1%, to $8.7 million, accounting for 12.3% of total revenue[131]. - Sales and marketing expenses increased by $1.1 million, or 9.1%, to $13.3 million, which is 18.9% of total revenue[132]. - Research and development expenses decreased by $4.8 million, or 12.4%, to $34.0 million for the six months ended June 30, 2024, from $38.8 million in the same period of 2023[145]. - General and administrative expenses decreased by $14.3 million, or 40.0%, to $21.4 million for the six months ended June 30, 2024, from $35.7 million in the same period of 2023[146]. - Sales and marketing expenses increased by $2.8 million, or 11.3%, to $27.9 million for the six months ended June 30, 2024, from $25.1 million in the same period of 2023[147]. Cash Flow and Capital Management - Net cash provided by operating activities was $24.2 million for the six months ended June 30, 2024, compared to $9.3 million in the same period of 2023[157]. - The company had $387.0 million in cash and cash equivalents and marketable securities available for working capital and stock repurchases[153]. - The company repurchased 4,173,999 shares of its Class A common stock for approximately $22.2 million under the Stock Buyback Program during the six months ended June 30, 2024[153]. - The company expects its existing cash and cash equivalents, marketable securities, and available credit will be sufficient to support its working capital and capital expenditure requirements for at least the next twelve months[155]. - As of June 30, 2024, the company had cash and cash equivalents of $269.4 million, with $141.3 million invested in money market funds[179]. Strategic Initiatives - Olo plans to continue investing in innovation, particularly in payments, data analytics, and on-premise dining, to capture new market opportunities[102]. - The company plans to expand its ecosystem of third-party partners to enhance digital ordering and delivery platforms for restaurant brands[103]. - Future initiatives may lead to increased operating expenses, potentially impacting short-term operating margins[105]. - The company anticipates further integration with third-party technology providers to broaden its market opportunities beyond the restaurant industry[104]. Risk Management and Compliance - The company has never experienced a material breach of customer or guest data, ensuring reliability and security for its clients[91]. - The company’s interest rate risk is primarily associated with its investments and loan agreements, with no outstanding borrowings under its credit facility as of June 30, 2024[178]. - Inflation has not had a material effect on the company's business, although rising costs of labor and overhead are noted as primary inflation factors[181]. - The company does not enter into investments for trading or speculative purposes and has not used derivative financial instruments to manage interest rate risk exposure[177]. - The company acknowledges inherent limitations in its control systems, which may not prevent all errors or fraud[185]. - There were no changes in the internal control over financial reporting during the quarter ended June 30, 2024, that materially affected the internal control[184]. - The company’s disclosure controls and procedures were evaluated as effective as of June 30, 2024, providing reasonable assurance for timely reporting[183].

Ignite, a digital acceleration platform from Bottle Rocket, offers restaurant brands a bespoke mobile solution with enhanced flexibility and customization that can be built in less time and with less cost by leveraging Ignite's pre-built foundational components. Bottle Rocket's depth of experience in the restaurant space, coupled with the creation of the Ignite digital accelerator platform and the integration with Olo, is perfectly suited for restaurant brands wanting to create a new digital ordering experi ...

Financial Data and Key Metrics Changes - Company reported a total revenue of $66.5 million for Q1 2024, representing a 27% year-over-year increase [53] - Non-GAAP operating margin expanded to 8%, up from 1.2 million a year ago [5][28] - Gross profit for Q1 was $41.5 million, compared to $37.2 million in the same quarter last year [27] - Net income for the quarter was $7.8 million, or $0.05 per share, based on approximately 172.7 million fully diluted weighted average shares outstanding [28][29] - Free cash flow was $2.8 million, down from $3.9 million a year ago [29] Business Line Data and Key Metrics Changes - Platform revenue increased to $65.8 million, a 28% year-over-year growth [26] - Active locations reached 81,000, adding approximately 1,000 sequentially [26] - Average Revenue Per User (ARPU) for Q1 was approximately $816, up 29% year-over-year [43][54] - Net revenue retention exceeded 120%, marking the second consecutive quarter above this threshold [54] Market Data and Key Metrics Changes - The U.S. workplace and event catering market is estimated at $60 billion, with Olo launching its Catering Plus module to capture this opportunity [8] - Catering same-store sales for brands using Catering Plus increased by 22% [17] Company Strategy and Development Direction - Company is focused on enhancing its open platform and expanding partnerships to leverage 100% of restaurant transactions [108] - The strategy includes integrating Olo Pay and Engage with POS systems to improve data collection and guest personalization [50][101] - Company aims to capitalize on the digitization of the restaurant industry, helping brands improve operational efficiency and guest engagement [33][52] Management's Comments on Operating Environment and Future Outlook - Management expects trends in the restaurant industry to remain consistent with 2023, with continued growth in digital ordering and a need for efficiency improvements [30] - The company raised its full-year revenue and profitability guidance, reflecting a solid start to the year [30][56] - Management highlighted the importance of data-driven personalization in addressing challenges faced by restaurants, such as labor costs and inflation [52][70] Other Important Information - The company announced a new $100 million share repurchase program [29] - Management emphasized the significance of professional services in helping restaurant brands utilize Olo's capabilities effectively [120] Q&A Session Summary Question: What are the estimates for Olo Pay this year? - Management confirmed the expectation of doubling Olo Pay revenue to over $60 million for the year, focusing on card-not-present transactions [37] Question: Can you discuss the NCR Voyix partnership? - The partnership is tied to the launch of card-present processing, allowing for detailed transaction data collection [68] Question: What trends are being observed in consumer spending? - Management noted a trade-down in consumer spending, with restaurants facing labor pressures and price sensitivity [91][92] Question: How is the professional services team ramping up? - The professional services team is being developed to help restaurant brands leverage Olo's capabilities, with significant interest observed at the Beyond4 conference [120][121] Question: Is there a dedicated sales force for Engage? - The sales team is trained to promote all Olo products, leveraging existing relationships with restaurant brands to educate them on new capabilities [127][128]