Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $76.1 million, a 21% increase year-over-year [25] - Full year 2024 revenue reached $284.9 million, up 25% from the previous year [32] - Gross profit for Q4 was $45.2 million, an 11% increase year-over-year, with a gross margin of 59.5% [28] - Non-GAAP operating income for full year 2024 was $32.9 million, up approximately 80% year-over-year [32] - Net income for Q4 was $11.3 million, or $0.06 per share [31] Business Line Data and Key Metrics Changes - Olo's gross payment volume (GPV) increased to $2.8 billion in 2024, up from over $1 billion in 2023 [8] - Active locations reached approximately 86,000, adding about 1,000 net new locations in Q4 and 6,000 for the full year [11][26] - Average revenue per user (ARPU) for Q4 was approximately $878, a 12% increase year-over-year [27] Market Data and Key Metrics Changes - Olo powered $29 billion in gross merchandise volume (GMV) for over 750 brands in 2024 [7] - The company expects to add approximately 5,000 net new locations in 2025, maintaining recent trends [37] Company Strategy and Development Direction - The company aims to ramp Olo Pay card-present functionality, targeting a $130 billion GPV opportunity [20] - Focus on expanding Catering Plus and increasing the number of full Flywheel customers in 2025 [18] - The partnership with FreedomPay is expected to enhance Olo Pay's market reach and transaction processing capabilities [17] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued growth in digital ordering and a need for efficiency amid rising costs and macroeconomic uncertainty [36] - The company expects gross profit growth to accelerate in the second half of 2025, following a tougher comparison in the first half [98] - Management emphasizes the importance of leveraging guest data for personalized marketing to drive profitable traffic [70] Other Important Information - The company ended 2024 with approximately $403 million in cash and investments [33] - Full year 2025 guidance includes revenue expectations of $333 million to $336 million and non-GAAP operating income of $45.5 million to $47 million [35] Q&A Session Summary Question: Can you elaborate on the FreedomPay partnership and its expected impact? - Management indicated that Olo Pay card-present through FreedomPay will be generally available by mid-year, enhancing the ability to sell and deploy Olo Pay broadly [47][49] Question: What strategies are in place to increase module adoption among enterprise customers? - Management noted organic growth in module adoption and highlighted successful expansions with brands like Jack in the Box [52][54] Question: How is the management team currently structured following recent leadership changes? - Management expressed confidence in the current team, particularly with the new CTO, and emphasized the importance of the upcoming Chief Revenue Officer hire [106][109]