Olo (OLO)2025-02-25 21:14Financial Performance - Fourth quarter revenue increased 21% year-over-year to 40.3 million, representing 53% of total revenue[7] - Non-GAAP operating income for the fourth quarter was 6.8 million, or 11% of total revenue, a year ago[7] - Total revenue for Q4 2024 was 63.00 million in Q4 2023[35] - Platform revenue reached 61.94 million in Q4 2023[35] - Gross profit for the year ended December 31, 2024, was 138.97 million in 2023, reflecting a 12.5% increase[35] - Operating income, non-GAAP, for the year ended December 31, 2024, was 18,260 in 2023, an increase of 80%[41] - Fully diluted net income per share, non-GAAP, was 0.05 in Q4 2023, indicating a 20% increase[43] Cost Management - Operating expenses decreased to 56.97 million in Q4 2023, a reduction of 21.4%[35] - Research and development expenses for the year were 73.91 million in 2023, indicating a focus on cost management[35] - General and administrative expenses, GAAP, decreased to 28,112 in Q4 2023, a reduction of 47%[41] - Research and development expenses, GAAP, were 17,108 in Q4 2023, indicating a 1% increase[41] - Sales and marketing expenses, non-GAAP, were 9,736 in Q4 2023, reflecting a 3% increase[41] Cash Flow and Assets - Cash and cash equivalents increased to 278.22 million at the end of 2023[33] - Total assets grew to 742.82 million in 2023[33] - The company reported a net cash provided by operating activities of 6.57 million in 2023[37] - Net cash provided by operating activities for the year ended December 31, 2024, was (6,568) in 2023[45] - Non-GAAP free cash flow for Q4 2024 was 2,734 in Q4 2023, marking a 150% increase[45] Growth Metrics - Average revenue per unit (ARPU) increased 12% year-over-year to approximately 29 billion for the year ended December 31, 2024[7] Future Outlook - For Q1 2025, revenue is expected to be in the range of 77.7 million[10] - For the full year 2025, revenue is expected to be in the range of 336.0 million[10] - The company plans to continue expanding its market opportunities and enhancing its product offerings despite macroeconomic uncertainties[30] Partnerships and Integrations - A partnership with FreedomPay was announced to integrate Olo Pay card-present functionality into FreedomPay's gateway terminals[8]