Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $80.7 million, representing a 21% year-over-year increase [17] - Platform revenue was $79.2 million, up 20% year-over-year [17] - Gross profit for Q1 was $49.2 million, an 18% increase year-over-year, with a gross margin of 60.9% [19] - Operating income for Q1 was $11.5 million, compared to $5.6 million a year ago, with an operating margin of 14.3% [20] - Net income for Q1 was $11.8 million, or $0.07 per share [20] - Active locations increased to approximately 88,000, up 2,000 sequentially [17][18] - ARPU for Q1 was approximately $911, reflecting a 12% year-over-year growth [18] Business Line Data and Key Metrics Changes - The company added approximately 2,000 net new locations in Q1, driven by strong customer deployment activity [6][18] - Gross revenue retention remained above 98%, indicating strong customer loyalty [18] - The company reported a 12% year-over-year growth in ARPU, attributed to increased order volumes and modules per location [18] Market Data and Key Metrics Changes - The company noted that same-store sales for limited service concepts gained market share compared to full-service restaurants [24] - The enterprise restaurant segment is positioned to withstand economic downturns better than small and medium-sized businesses (SMBs) [24] Company Strategy and Development Direction - The company is focused on scaling Catering Plus, ramping Olo Pay card presence, and increasing the number of Olo flywheel brands as part of its 2025 priorities [5][6] - The company aims to leverage guest data to enhance customer engagement and drive profitable traffic [46][67] - The introduction of Olo Guest Intelligence (OGI) is expected to provide valuable insights for brands [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to help restaurants navigate rising input costs and macroeconomic uncertainty [15] - The company believes that enterprise brands are better positioned to weather economic challenges compared to SMBs [24] - Management noted that the digital ordering trend continues to provide a tailwind for the business [42] Other Important Information - The company hosted its sixth annual Beyond Four Customer Conference with record attendance, showcasing its products and innovations [12] - The company announced the appointment of Parish Chapman as the new Chief Sales Officer [14] Q&A Session Summary Question: What does the Chipotle pilot mean for Catering Plus and top 25 brands? - Management expressed excitement about the Chipotle pilot, highlighting it as a multimodule win that validates the Catering Plus offering [29][32] Question: Can you provide more details on the gross margin benefit from the cost of revenue adjustment? - Management clarified that the one-time impact was approximately $1 million, with expectations for gross margins to decrease slightly over the year [34][35] Question: What are customers saying post Liberation Day regarding input costs? - Management indicated that rising input costs are a challenge, but limited service restaurants are gaining market share during economic uncertainty [40][41] Question: How does the company view its competitive positioning? - Management feels confident about its competitive position, citing strong gross revenue retention and the mission-critical status with customers [62] Question: What initiatives can be expected from the new Chief Sales Officer? - Management highlighted that Parish Chapman will focus on bookings and growing relationships with existing customers [54]