Olo Inc. (NYSE:OLO) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET

Company Participants

Gary Fuges – Senior Vice President-Investor Relations
Noah Glass – Founder and Chief Executive Officer
Peter Benevides – Chief Financial Officer

Conference Call Participants

Eric Martinuzzi – Lake Street
Andrew Harte – BTIG
Connor Passarella – Truist Securities
Stephen Sheldon – William Blair
Max Gamperl – Goldman Sachs
Simran Biswal – RBC Capital

Operator

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

It is now my pleasure to introduce your host Gary Fuges, Senior Vice President of Investor Relations. Thank you. You may begin.

Gary Fuges

Thank you. Good afternoon, and welcome to Olo’s second quarter 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, our operations 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, which is 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 on 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 we may or may not provide an update in the future on these metrics.

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

Noah Glass

Thank you, Gary. Hi everyone, thank you for spending time with us today. Team Olo delivered another strong quarter in Q2. Once again, revenue and non-GAAP operating income exceeded the high end of their respective guidance ranges, and we’re raising full year 2024 revenue and profitability guidance in excess of our Q2 outperformance.

We added new enterprise and emerging enterprise brands and expanded with existing customers. We also announced our third POS integration partnership for Olo Pay and Engage with TRAY, which brings us closer to supporting full stack payment processing and enabling brands to use omni-channel guest data to drive profitable traffic, a critical restaurant metric.