Olo (OLO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Olo Inc. reported $70.5 million in revenue for Q2 2024, a year-over-year increase of 27.6% [1] - The EPS for the same period was $0.05, compared to $0.04 a year ago, aligning with the consensus estimate [1] - The revenue exceeded the Zacks Consensus Estimate of $67.81 million by 3.98% [1] Financial Performance Metrics - Average Revenue Per User (ARPU) was $852, surpassing the two-analyst average estimate of $822.72 [3] - Ending Active Locations totaled 82,000, slightly below the two-analyst average estimate of 82,150 [4] - Revenue from the Platform segment was $69.60 million, exceeding the three-analyst average estimate of $67.04 million, reflecting a year-over-year change of 27.5% [5] - Revenue from Professional Services and Other was $0.90 million, above the average estimate of $0.76 million, marking a year-over-year increase of 39.5% [6] - Non-GAAP Gross Profit from Services was $0.15 million, compared to an estimated loss of $0.04 million [7] - Non-GAAP Gross Profit from the Platform was $44.16 million, exceeding the three-analyst average estimate of $41.50 million [8] Stock Performance - Olo's shares have returned 12.6% over the past month, contrasting with a -0.4% change in the Zacks S&P 500 composite [8] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [8]