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- Olo Inc OLO reported second-quarter revenue growth of 27% year-over-year to $45.6 million, missing the consensus of $45.82 million.
- Platform revenue increased 29% Y/Y to $44.5 million.
- Adjusted EPS was $0.01. down from $0.04 a year ago.
- The average revenue per unit (ARPU) increased 12% Y/Y and +5% sequentially to ~$544.
- Ending active locations increased 11% Y/Y to ~82,000. Dollar-based net revenue retention (NRR) was ~106%.
- The gross margin fell by 1,056 bps to 68.9%. Loss from operations expanded to $(11.93) million from $(2.41) million in 2Q21.
- Net cash used in operating activities year-to-date totaled $(870) thousand, compared to cash generated of $15.47 million a year ago.
- Olo’s cash, cash equivalents, and short- and long-term investments totaled $464.7 million as of June 30, 2022.
- 3Q22 Outlook: Olo expects revenue of $46.5 million to $47 million, vs. a consensus of $51.12 million, and Non-GAAP operating income of $1.8 million to $2.2 million.
- FY22 Outlook: The company expects revenue of $183 million to $184 million, vs. a consensus of 195.58 million (prior $195.0 million to $197.0 million), and Non-GAAP operating income in the range of $7.6 million to $8.4 million.
- Price Action: OLO shares are trading lower by 24.94% at $9.75 during the post-market session on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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