Olo (US:OLO)2024-05-07 23:10Financial Performance - Olo's total platform revenue increased by 28% year-over-year, reaching $65.8 million[62] - Non-GAAP gross profit increased 12% year-over-year to $41.5 million, representing 62% of total revenue[62] - Olo's total revenue increased 27% year-over-year to $66.5 million[81] - Non-GAAP operating income was $5.6 million, which is 8% of total revenue, compared to $1.2 million, or 2% of total revenue in the previous year[82] - Gross profit increased 11% year-over-year to $37.2 million, accounting for 56% of total revenue[41] Customer Metrics - Average Revenue Per Unit (ARPU) increased 29% year-over-year to approximately $816[43] - Olo's ending active locations were approximately 81,000, an increase of approximately 1,000 from the previous quarter[64] - Dollar-based net revenue retention (NRR) was above 120%[83] Market Trends - The food-away-from-home segment accounted for 69% of all food sales in 2022[9] - Only 16% of restaurant orders are digital, indicating a large potential market for Olo[28] Capital Allocation - Olo's Board of Directors authorized a new share repurchase program for up to $100 million of the Company's Class A common stock[44]