Olo Inc. (NYSE:OLO) Q1 2024 Earnings Conference Call May 7, 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

Terry Tillman - Truist Securities
Matt Filek - William Blair
Clarke Jeffries - Piper Sandler
Kevin Kumar - Goldman Sachs

Operator

Greetings and welcome to the welcome to Olo Inc.'s First Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder this conference is being recorded.

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

Gary Fuges

Thank you. Good afternoon and welcome to Olo's first quarter of 2024 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-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 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. Olo got off to a great start in Q1. We increased revenue 27% year over year and expanded non-GAAP operating margin to 8%, and we're raising our 2024 revenue and profitability guidance.

We announced new integrations with NCR Voyix and Q that move us closer to launching full stack pay functionality later this year. And we'll provide access to ingredient level and guest-linked data from non-digital transactions where more than 80% of restaurant business is conducted today.