Olo Inc. (NYSE:OLO) Q4 2023 Earnings Conference Call February 21, 2024 5:00 PM ET

Company Participants

Gary Fuges - Senior Vice President, Investor Relations

Noah Glass - Founder & Chief Executive Officer

Peter Benevides - Chief Financial Officer

Conference Call Participants

Matt Swanson - RBC

Stephen Sheldon - William Blair

Eric Martinuzzi - Lake Street Capital Markets

Clarke Jeffries - Piper Sandler

Andrew Harte - BTIG

Operator

Good afternoon. My name is Ryan, and I will be your conference operator today. At this time, I would like to welcome everyone to the Olo Inc. Fourth Quarter and Full Year 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to Gary Fuges, Senior Vice President of Investor Relations. Please go ahead, sir.

Gary Fuges

Thank you. Good afternoon, everyone, and welcome to Olo's fourth quarter and full year 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 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 a discussion of these material risks and uncertainties, please refer to our Form 10-K 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 is 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. Hi everyone. Thank you for spending time with us today.

In 2023, Olo was again instrumental in helping enterprise restaurants succeed at scale. Our platform facilitated more than $26 billion in gross merchandise volume across approximately 80,000 locations and approximately 700 brands. We processed more than $1 billion in gross payment volume through Olo Pay, a nearly 4x increase from 2022.