Olo Inc. (NYSE:OLO) Q3 2023 Earnings Conference Call November 6, 2023 5:00 PM ET

Company Participants

Gary Fuges - Senior Vice President of Investor Relations

Noah Glass - Founder & Chief Executive Officer

Peter Benevides - Chief Financial Officer

Conference Call Participants

Stephen Sheldon - William Blair & Company

Matthew Hedberg - RBC Capital Markets

Terrell Tillman - Truist Securities, Inc.

Andrew Harte - BTIG

Clarke Jeffries - Piper Sandler & Co.

Operator

Good afternoon. My name is Irene and I will be your conference operator today. At this time, I would like to welcome everyone to the Olo Third Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to Gary Fuges, SVP, Investor Relations. Please go ahead.

Gary Fuges

Thank you. Good afternoon, everyone and welcome to Olo's third quarter 2023 financial results conference call. Joining me today are Noah Glass, Olo's Founder and CEO; and Peter Benevides, Olo's CFO.

During this call, we will make forward-looking statements, including but not limited to, statements regarding our expectations of our business, our industry and our future financial results. These statements reflect our beliefs and assumptions only as of today and are subject to a variety of risks and uncertainties that could cause actual results to differ materially. For discussion of these material risks and uncertainties, please refer to our Form 10-Q that was filed today and our other SEC filings. Also during this call, we'll present both GAAP and non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are available in our earnings releases which are available on the Investor Relations page of our website. Finally, in terms of our prepared remarks or in response to your questions, we may offer incremental metrics. Please be advised that this additional detail may be one time in nature and we may or may not provide an update in the future on these metrics.

With that, I'll turn the call over to Noah.

Noah Glass

Thank you, Gary. Hello, everyone. Thank you for spending time with us today. In Q3, we continued to deliver on our 2023 financial and strategic goals. We generated strong quarterly results. We landed and expanded with both enterprise and emerging enterprise brands and drove innovation that helps our customers drive increased sales, operational efficiency and superior guest experiences. Third quarter financial performance exceeded the high end of our revenue and bottom line guidance ranges, with total revenue increasing 22% year-over-year and non-GAAP operating margin expanding to 10%.