OLO - Earnings call transcript Q1 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to Olo Inc.'s First Quarter 2024 Earnings Conference Call. [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 2024 Financial Results Conference Call.

to, Noah CFO.During Founder make industry, this including, not are Peter CEO; forward-looking and today expectations but Olo's our Benevides, call, limited future me financial Glass, business, and Olo's and statements, of results. Joining our regarding our statements we will of results of statements uncertainties risks These as that our to subject are could and beliefs and reflect actual differ and materially. to only cause assumptions today a variety

onetime refer these Investor SEC to For and of questions, Form metrics.With be risks release, page call, material to to that detail response our website.Finally, that, a financial metrics. of is please today Noah. provide on may Please other the our measures. the on over an incremental which I'll be uncertainties, in terms to our we'll nature, our or of GAAP earnings comparable filings.Also, which additional the advised available these measures call filed update prepared was in Reconciliations Relations discussion remarks future or may directly non-GAAP financial GAAP XX-Q, in in available and we are our this and this our not most present offer turn we and both may during in your may

Noah Glass

non-GAAP to provide than of launching help this customer where and a new closer Olo integrations expanded our and you, and at positioned increase from brands and and start and announced our performance in that XX,XXX We and that and lifetime ended Voyix to you full-stack everyone. us sequentially. net year, access increased raising solutions personalized margin And move for to guest XX% innovation functionality XX% our Thank quarter got and Gary. today. we're more year-over-year off guest-linked we business great it, believe our review data ingredient-level is revenue to Hi, new transactions, highlights today. guest QX. data approximately discuss more guidance. Thank omnichannel is guidance.We the pay spending and profitability to experiences leverage conducted scale to time AI non-digital sales will Olo later restaurant the With guest Qu XXXX and will with NCR uniquely revenue X% We adding operating then us locations learning machine grow locations, updated X,XXX more approximately share with about QX new active and integrations. value.I'll POS deliver with Peter

increased was $XXX XXX%. net in retention of XX% and First-quarter year-over-year, revenue ARPU excess of

expand Dutch continue dozen and implementations. enterprise announce that of expect speed, Bros the brand platform continue strengthened thrilled RAKKAN them we values pilot, partners.In Dutch a their successful and new and we expand. Pay, to It's to enterprise, land XXX-plus across super-excited XXXX.In throughout and locations with than and implementation, open features deploy emerging More had brands, further multi-module to across ], ecosystem Ramen XX deploy states to and Pay We Olo and Ordering a and like to a their brands and on we're land moonbowls deployed channel. Ordering, X-suite through sick quality, help to into Rails, we're moving emerging this to digital today Dispatch, their completed fast-growing of example service. deliver has drive-thru Quiznos Bros core enterprise and And and [ Engage Sentiment will ahead enterprise, modules our and app. through great guests our enable a order we

with decision-makers. Customers in overall XXX time a This our our with event was senior-level presentation. with Farms attendance the more of Lane Pay, our our Bluestone suites, of hands-on conference. like We brands brands March X Grill Kabob Panini and expanded love expanded and road into Engage. record While into and data BeyondX we was Julio's and fantastic increasingly than announced large at great Catering a Mendocino Uncle customer product map and among a and demos enhancements. spent highlights. guest XX Pay post-COVID, channel major and validation rebounded important Qu. QX, average generates it's It Engage's that resonating OLO brands. I'll high to our order strategy integrate are share brands.In It's TAM. significantly announcement and is with and few it platform our an for products values,

and that event $XX estimates market. research catering U.S. is workplace Third-party a billion

we entry brands production prep spring, inefficient, fall. customer staff efficiency this to the often this address that enabling high-value with volume be large cross-referencing a and catering capture And managing for data. Olo module catering However, requiring feature opportunity, more launched sales. new order sheet To in POS and orders orders, the released Catering+ can manual its streamlines improving

success We average is do personalized for part the guest catering can efficiency. costs XX% are With and network million Smart authorization now performance By mealtime channel X%. new believe to as delivery: to which We process. brands Olo their are we rates XX% reduced experience. success kiosks, brand's we all through a step restaurants flex what chargeback we on to is in first And more improve and surfaces and and early transactions both recent items engagement By accounted to guest OLO expanding lever, by guests financial for even an feature Catering+ and adopt live static year cross-sells. history, in ordering focus doubled QX.Since for replicate test, making based the Pay, self-service staff since with released platform this power Smart drive large ordering all increased Catering+, and it manage content, more Pay network suggestions its checkout Olo's card-present Pay, efficiencies. on- brand brands X we sales is such salad general our Catering+ an improving from accuracy engagement running that order average basket drive our XX% contact not assess card-not-present working in Mexican campaign a end recommending very sales honeygrow has which Cross-Sells, during than also their toward we by well increased value our this on feature to off-premise also effectiveness. our through ARPU concept, as combine location digital-first larger same-store Olo They're the Salsarita's across a that growth excited they currently of base.And availability a is orders Cross-Sells we Cross-Sells brands believe and bringing on to generating our transactions, look Dispatch, which high-growth business.We payments our menu, functionality card for higher the average. we data, In Olo honeygrow and see Rails to and platform. here effect card-present Catering+, Engage, of Grill and Olo analyze we Borderless, lists, ROI, order order cross-sells key dynamic module lift.In value. over guest we for today, into and Smart can year and item contextual and Olo operations the has this and into more has another with throughout opportunity implementing generating a significantly and ARPU of expansion done their stir-fry improved to and AI-powered sharing honeygrow, about we've Fresh forward is within announced announced exceeds a enabled catering with new by the as runs interest Integrate nearly features than with help Like market Catering+ base. and is stand-alone year. as sales the and and and is

to an sales, Pay unlock ability feel revenue NCR and and easier that Engage will their more lifetime like brands guest we transactions, of scaling help our Olo's platform's to strategy. to their data into enhancements channels providers guest exceeds important We the that's sales believe for and develop that Kia regular.Today, brands make like payment we restaurants delivery for make voice the into brands a from expand management; every business ecosystem, to for our capabilities, new data engagement. open committed and processing integrations, Qu, ordering; to helps remain integrating at drive for real into grow value, and across be time. a and increase restaurant U.S. guest game-changer enables actions understand and including non-digital efficiencies. which of it with capacity, lifetime We providing so experience, and open an operating better omnichannel the and These drive for of Sparkfly guest platform give Voyix Curbit POS kitchen guest are benefit positioned order best-of-breed want integration enhanced number announcements by brands their partners a scale. platform to guest of platforms touch personalize these NCR our where insights POS Voyix to and Olo why user from we XXX Olo for technologies.Before other I Olo call By and XXX% to guests Qu view now new XX% turn transactions occurs. will restaurant platform our aggregate and with a We interface the also integration convert data Engage ecosystem value.In innovation partners, footprint offer Pay to guest Engage in lifetime all our discuss solutions and guest to brands power over a guest data comprehensive data and differentiated and announced believe I our to Olo Peter, value, and and Coupled sales provided

BBQ and Rails, understand and value, Sonny's Ordering, order the stack, lifetime example, spend. average its to sources multiple tech GDP For data frequency, Dispatch ingests guest from across into including better Engage

brands challenges the uses subscribers labor a with inflation, growth in scale a enabled XX to and leveraged frequency minimum for and sales.First food win. data over market, customers. breadth, greater alternatives, XX% campaign's their to And Watch half campaigns success. in first data $X.X e-mail days Olo a days. be and to lift of becoming million data-driven the deliver depth, First in and benefits personalized, top of Olo even important drive brands help spend in and the to of learned wage With that increase XX% increasingly their are Sonny's XX data the in Watch personalization of this brand's as that continued position account tight an automated repeat by in total recipients resulted and to guests legislation, unify XX% stronger spend will their face cost marketing Engage

of network data ecosystem brands, XXX million guests, Our XXX breadth. and XX partners drives

for set Our data our believe of advantage Peter? now restaurants. in to guest competitive and review in leverage And lifetime clear is durable Olo providers, we versus than that sales, and value, data success in provide expanding and therefore, learning POS hospitality.I'll believe, approach garden is Peter increase and data, results APIs has guidance. traditional This leader deeper the drive turn scale. best alternative integrations insights a positioned to and providers.Data-driven meaningful to we and AI of why will pulled a to it QX levels transaction personalization our although POS restaurant result yields become the to over machine call the action walled greater

Peter Benevides

Note XX,XXX, Engage, Dutch up Revenue were for revenue first I'll included deployed, they Noah. year-over-year. an Active and our locations Pay, in be results yet the Order, well XX% approximately active -- vast was guidance in that increase of quarter first and year first of expectations. quarter the location majority suites million, second full from $XX.X of review increase million, the year-over-year. Thanks, are as an Bros the X revenue to so QX outperformed Platform count. not was are XX% quarter In the locations sequentially. quarter, all total $XX.X Today, the X,XXX as XXXX. provide our

We location, approximately quarter expect was expect first XXX%, and increases NRR modules above consecutive order where XXX%. ARPU in new in net the above location the continue increased XX% $XXX, the or revenue Olo and was count Year-over-year at approximately to was we year, X,XXX locations driven particular, year.ARPU and year-over-year And volumes this up were by ramp second add retention per X% to sequentially. for throughout net to quarter Pay.

a decline total $XX.X was This the growth marketing $X.X metrics Net partially quarter based gross costs approximately offset Olo otherwise revenue. and was in compares million remainder million, first weighted-average with was reflects million, XX% from compares QX to or in financial with calendar year total This ago. share a of total $X.X ago. growth of total million the to year-over-year year quarter growth, expense seasonality increasing was quarter to Research compares revenue. or QX million. shares as costs hosting our quarter administrative unless This first managing revenue the mix revenue. the the compares in This The referencing to sheet $X.X of margin $X.X on profit XX% was General approximately compares and around a improvement combination and of and ago.Operating benefit for factors by million XX% million, profit QX, first million. million associated revenue. as This conference development was XX% expense as income in income focus driven the profitability was the the non-GAAP customer XX% for expense our a XX% was the March. or and to first and million $XX.X flow $XX.X financial year I of in Operating year-over-year $XX.X outstanding.Turning the $X.X by tax for $XXX.X the continued increases Sequentially, $XX.X measures. million, quarter reflects ago. associated on For noted, will Pay.Sales balance resets first in the of revenue annual year per and cash a disclosed, statement. $XX.X for or such or the well to well XXXX as the Gross and our year revenue attention quarter be for new expense ago. first of as $X.XX X% year BeyondX fully-diluted million,

approximately had investments million. to approximately million. short- have introduction on share $XX approximately current March as first million shares for $XXX program, share million the $XX.X the totaled quarter, of the repurchased $X.X we of program, as and equivalents, our million of repurchase Since repurchase Pursuant of end of our the million cash cash, we remaining We authorization for XX.X XXXX. shares the long-term XX, X.X share repurchased in a Our year the quarter cash the activities authorized and in total a have and new providing and quarter $X.X wrap provided million Net for completed year million full in second since Board million a $X.X to compared up today, the has operating was million we ago. our quarter a compared announced year to ago.I'll guidance by $XXX cash $X Free And the $X.X program. million flow by that our program. repurchase quarter was XXXX. approximately

income million and revenue $X.X million second range quarter and of of XXXX, in in $X.X of expect range the the For million. million the $XX we $XX.X and non-GAAP operating

said, full $XXX.X For the consider to operating in XXXX, million.A approach revenue $XX.X mind start few raising million That range we operating the things our guidance. in outlook. fiscal got $XX of to off and full as the for year are the year and year million guidance. to as year in We income keep outlook prudent range you a a solid our raised year. we reflected the non-GAAP take continue our income to and non-GAAP revenue and We to in now $XXX.X million of expect

We in and similar new ordering, and continued in a further success growth rising deployment what selling macro our efficiency incremental remain saw the we and a sequential offset as scales, margin, will Engage will projects suites.In expect we currently Consistent multiple less Olo we modules gross signed trends assume to expect and continues between existing primarily pronounced. and which by in projects in ARPU revenue of in driven the be decline guidance to Revenue digital in Pay terms from have be expansion year, now to X/X deployed to Order X/X, improve restaurant in XXXX. need uncertainty. industry split costs, will

the points approximately and this margin for QX decline basis from points change of from with directionally occur cost points Specifically, the QX's our XXX of platform.In shift XXX in from optimization operating operating of and due to XXX to expect QX. margin, first of second basis to expectation from generate expect range expenses better to leverage basis is to initial the year gross within points gross half well consistent QX basis we non-GAAP prior-year from compared costs QX to decrease revenue QX certain the half, from to The a operating to XXX to of income, cost of trends. as to terms we as

reminder, the the different first years. half in expenses a of prior be quarterly of as slightly XXXX versus Finally, pacing operating will

annual last year. increases As this we stated to on begin we year's our this annual compensation call, in in QX. start QX.To Historically, a hitting wrap increases strong off began up, comp got

operational we industry of We strategic portfolio and the their solutions more now pressing good session. early for to the well-positioned approach key making platform restaurant the our is the like believe and sales their the turn many to significantly are I'd increase data on over operator of of allowing to challenges. operations.With digitization We brands open helps do solve Olo's deliver Q&A Further, scale priorities at asset help increase to Operator? most and brands year. begin to progress to our our us across our financial the remain of stages their of it the updated are improve that, and believe targets

Operator

first comes of The we from have question Securities. Terry Instructions] [Operator Tillman Truist

Terrell Tillman

Can you me hear okay?

Noah Glass

clear, Thanks. and Loud Terry.

Terrell Tillman

Wonderful.

some congrats of Bros the of of Dutch some wins first these all. X I've other questions. transactions on like and got So

a The multi-parter. one first is

be one, multi-parter. also it second a might The

then now in And as about integrating about, million. the from hearing that doubling still are Pay now Peter, $XX secondly, hold got that then qualitative of bear follow-up. into to if me. mistaken, does have true, think, perspective talked a of I I Olo would or I for base change? couple just you Does to had starting unlock? POS a year that's terms But you And I'm a not large So what with Olo you've of your relationships on some love customer Pay.

Noah Glass

on This is started part. Noah. the Terry, I'll qualitative get

these just traditional now partnerships go to on but also Olo POS we providers to point-of-sale Engage. both integrate to injection, integrate we fun been Olo include work beyond that way it's with So that X that the order the to and Pay dozen

tries So the that or even data from channels and customers to this guest reaction capability many into transactions tie we're as something restaurants to see they've of XXX% of process back Grail able being for unlock guest drive-thru a channels, and engagement -- see the those Holy but guest understand to and Grail who whom transactions, really described XXX% of to this really on-premise the inside industry a through to place for them more the XX% for lifetime non-digital happening think been about waiting those been just able XX% of and transaction Holy really of value, of the kind really, to.So guest not every take to to that platform. all that in the of have differently digital all data in transactions from the transactions, on-premise because it It's been encouraging. marketing but flowing transactions being able fun enables of has get of

Olo media. reaction real Olo been capabilities as that, see And for beyond represents. and to had partners conversations evaluating X relations. order for are with these our really and back Engage today these about platforms. social the that that working brands this then at the partner do that all customer seeing Pay to thinking at and and suites.So Difficulty] restaurant across what seeking and are really the customers seen They about And relationships product posted the X executives these excited about they're POS are a future and initially, advantage of direct with fun the we you more we've weeks we also across these point-of-sale beyond but as for conference are have competitive seen then Qu about of are partners both point-of-sale Voyix, unlock our obviously and in common X these saying we've which this we've reactions [Technical as prospects it's announced, this announced BeyondX our with So NCR that recently just POS with we injection,

Gary Fuges

Apologies. Gary here.

we second. Noah. think lost us have give a may I just

Peter Benevides

Pay in Terry, around jump Noah your there, I connects, question this on year. estimates for can While the

estimating the $XX with revenue year. million So the being portion include will you're just the doubling contributor of a revenue are card-not-present a to right, of in the over for again, business of we XXXX. still business And that card-present

Terrell Tillman

don't Noah did I we've Gary, Noah, -- Gary, know And great. rejoin? That's if had

Gary Fuges

I believe, Terry, in. he's dialing back

So apologies for that.

Terrell Tillman

letting in could what in folks of get do just Peter, just queue. I maybe back then I'll the is spirit -- here, Okay. the for in just I'll Well, other and ask maybe you, jump

flow there, about the to the As relates it for flow thinking cash free for any year? free year, how thoughts updated you're just cash

Peter Benevides

Yes.

aside income noticed from being cap which in sure flow, we what not driven. currently the continue software I'm items flow-positive free free balance foreseeing the there an and through about with I this you being the year quarter, that of dynamic holding would for we're expect to is So cash year. difference brought any perspective half cash for the operating of onetime that generated we really

Gary Fuges

question, having We seem please. to Apologies. next be continued here. Operator, difficulties

We're still -- Just Q&A, hang this working second. in on the you through. year. we'll us the through folks All working on we're getting work right, and here folks here, getting were and one

So please you patient. Street, at Lake Thank me? hear you.Max be can

Unknown Analyst

can. I Yes,

just me. said it talking. to talking were not They you Sorry, were

Gary Fuges

try over do this remotely. Max. Yes, that's here, taking right. I'd to I'm

line live. your So we've got

Peter got away. we've far not So so

Unknown Analyst

right. Okay. All

good. Sounds

just is arrangement wondering partnership, on dependent guess are I go the of So here, from card-not-present the NCR them we today? to card-present, if Voyix what and launch seeing we Qu or revenue this I'm

Noah Glass

payment actually protected of just ticket amount the the point you adjacent the we're then data and orders POS, getting of the being really done, of card-not-present transaction for a digital is The from that idea this integrations this get ordering tied order, And the typically total Well, processing. is be receiving Max, -- we're the the relationship the to is so being launch card-present the currently injection. Olo we have to the from transaction but that processing, data. not with is happening, order of where can transaction, sale, Noah, POS on of the taken data provider payment

platforms, digital do to able a with see see tied a guest that's typically guests. item. we're ingredient-level is of added to of down that I ingredient Olo rather, customization data, platform. adjusted, data level. level that of on-premise depth we to back So to an the we're restaurant pulled say now of not transactions getting was NCR of were all our point-of-sale back serving all able item-level of that enterprise -- needs. different able transactions, Voyix. across modified, for we're that's Qu is these kind to Engage to substituted, brand work But that what partners And detail transactions, of into the that to And able all able mean for that data, to guest of a do replicate and that, point-of-sale when And data granularity associated through profile.So with ambition is really XXX% in we're X XXX% guest transactions to being arrangement what I see seeing the we And those

Unknown Analyst

possibility a on I I right. of Yes. arrangement that, with for And guess a is All then similar top mean, there Migros?

Noah Glass

today We the the everything the and challenger point take the that POS new this our Qu on that and scene as number and and of locations most table. kind with partner with of today and have is of that partner Yes. in with we of relatively of work to on restaurant brands between. work POS longest-term share, NCR and largest the gaining We're with sequencing as based off sale we're POS factors partners we a excited any variety currently a don't

Unknown Analyst

Great All quarter, guys. right.

Gary Fuges

Our next Stephen question with Blair. is from Sheldon William

Matthew Filek

you Filek for Peter, have I a wanted with to and on Noah Stephen. question. macro-level Matt start

half how the what heading on into trends curious about consumer spending the feel engagement the are year? of you health in Just consumer you seeing second and the overall and of

Noah Glass

certainly consumers question a certainly earnings. and sentiment in restaurant to one Well, into the same lower there of been that's reporting trade-down expensive restaurants of we listened sort as offerings. would with great say focus I is

dealing X brands consumers. some restaurants restaurant You've really that with the cost pressure, labor some restaurants about this talk of of as enough we losing moment is different see difficulty is the is And getting declining. forces. in the labor One declining are the the of industry at of based part price heard some higher What lower-income regulations labor, on that California, of traffic that in and inside traffic sensitivity. of is

it also in is restaurants by prices thing I taking inflation that's that we're price. charge on of challenges higher think price to some big when food for trade-off and addressing costs driven restaurants facing. is traffic.So take costs And always the food that those in X leading a restaurants focused and a are Olo

to helping from a drive every they're know first with experiencing resonant the standpoint. all been of helping really your and value hands guests with of that challenges with The that less, more in brought guests labor, traffic that and the more the back of the their their of around really something about increasing the guests, be labor you in.So are resort their in that value guest guests do all the at increase more use Olo with ordering is to labor, always and interactions has hospitality have different restaurant to and like really with restaurants on efficient be And without drive restaurants market, that moment. efficient payment so the offers their solution to and necessarily the less this these to better, with personalize to guests able X being marketing things and in given lifetime helping can other touch on restaurants, restaurant guests requiring propositions know them more conversion the more we consumers of discounting the those to or do both putting focus high front, to guest guest understanding delivering on better points helping

Matthew Filek

And then like? the Got what can could ARPU just recently you more you driver talk it. been be early feedback something Cross-Sells that customer over And has announced some to Smart do That's that's product, particularly term? a think helpful, Noah. about longer growth the

Noah Glass

checkout versus one other way is that that Smart we capabilities one name different really from just to we we fun for It's And were in that mentioned basket put little that I here. to XX affinity utilize traditional can very in our fries of. This it do affinity this that in sort the spring is what that also of see in mapping from And with moment. announced but are get used product right it Smart have locations the to want the collaborative to we that and we're way over very Cross-Sells. is was with do in smarter manual what a that this upkeep. data is nicely use Smart excited Netflix no to learning, all terms than use This want Cross-Sells how smarter. front to the the already one the able products at is the And of when data-driven use or we XX,XXX I'm because hearing. Cross-Sells to to the at continue this similar is seen experience best a Yes. using product bit cross-sell smart see ordering you get remarks, services results AI, and machine offering of we've make the filtering that like data that automated. now suggests, smarter saying, really context to another the hinted using very means Cross-Sells a, And that is not cart that a go size does have drink the that Spotify as not all proud all release. customer require of to will and we're announce, to that of rather proud of of speak upsell. somebody as one there really themselves.We've really, manually and you do using adopting Smart to or lift product. really upkeep with in to XX% seen to the we're product doing a in product prepared use

platform, ordering in guest in even personalization Cross-Sells across excited with we're who making Smart guests and there, using using over identity the understand about history continuing even understanding and on $X guest other one data really believe million specific is, network And opportunity order flexing in borderless an also smarter strong.So So that can is there at in the Olo therefore, that using make what from pulling guest that on smarter. AI, their ordered opportunity what network for machine learning. a a And brands we're to see that data, who they've done ARPU there about already other revenue is borderless journey Olo we scenarios that focused then time. Cross-Sells to is that the certainly, we our the the they've Smart through way that

Matthew Filek

Got it. time. That's guys. Appreciate the quarter, Nice helpful.

Gary Fuges

Thank you.

Operator

question next Sandler. [Operator Instructions] Clarke is from Our Jeffries Piper with

Clarke Jeffries

in up you Cross-Sells like about looking bump And Does accelerant an this as you final Engage data customer and the a the balance Beyond seem appetite your product just, Noah, profiles progress marketing to I Peter, that, to side year the be suite. with you X the the a of the list priority XXXX. on part curious then factor? Noah, good be as Engage Engage lion's products that look it demand think I built And how on that might today? the see about at was ask when in the you. think you've borderless by wanted from powered and question us with list one have could Smart of And coming of that XXXX, between was the the of or that Pay interesting away takeaways year. at is marketing sort sort the remind to speaking help you very to the follow-up. I share just many could

Noah Glass

of who us Sure community all you to joined you at attending, thing, BeyondX. for in Well, you analyst first, Clarke. the thank and thank

we which to then We that the going enriches that's journey we sequence. and think event in talk brands ability the play our focused their are their announced Pay were eager really I had new on away certainly, Pay, them with XXX to hard on ago was guests Olo lot of what what at of top.On Olo that are a That's up this and Olo together And was things it BeyondX guest Pay that and today, and focus ton Engage. not call, a almost to of sequencing that the capabilities And like Then of are are there's we to million who as really accounts from to ago, think what to think data, and digital feeling the I we're data, borderless. that we is borderless hear borderless. for consigliere terms off feeders into Engage to on, reached borderless, then and more one it about XX we that think doing come engage, in just one announced help intentional. on viewing know looking was there flywheel guests million Cross-Sells our become that customers their suites the last guest guest we we're were very on engagement. restaurant cherry to they we've efforts, with And about then we think Certainly, this days brand X And for data brands I what way the use a about digital of all see And borderless. of on customers really was really wanted were accounts that.In days that's our how at data X that relationship drive Order digitally million Olo with solution the in great a Order data on another. X and they as mature. personalize Smart great of leaning to them although from they is and help know experience. the ability the speak example how more and

and guest in about we and higher digitization able a of experience restaurant about restaurant given hospitality throwing payments and what see guest leverage a to they these across thinking giving also they're to a Olo-level what and then lifetime regular. can you leads they're like to higher the their growth sitting make So value.So for that between that's for brands we restaurant the of -- an now business of this And about really are multiple the talk direct profiles in every of conversion, restaurant new mean that network multiple even use personalized with data given feel off and digital guests exponential and that brands being that brands brands. see to what have really can the who able more guests can across all in effect, operating do Olo frequency we that offer much kind digital when data so and a things guest realm think ordering and way, hit they're I really environment of in greater

Clarke Jeffries

the be kind preferred up about think in an had those where I be you clarity and around then just the they'll partnerships, follow-up point-of-sale you relationship brought partner, distribution partners partnerships in vendors a within helpful. customer to into And that Perfect. order would ecosystem? where point-of-sale wanted partnerships. before relation a pulled of just point-of-sale was regard flagship would additional about about thinking the is to compatibility be even said the they hear could be these be Will technical one Great. encouraging where with rank and this you Very proactively new integration Just a go-to-market proactively to about you're be situations where channel? and partner. clear when about announcement I

Noah Glass

Yes.

the as talk has I think ethos. beginning, really about an our great very question. it's be you've heard a us platform, open We and been from that like to

Engage, into we partner able for Olo Order, this kind that Voyix, now many over you with we our have into capability partners back helps whether a partner to work them works we many or have up a we're to Holy competitive Pay, are want to and other our long a look be guest, get capability you a and Olo in to to Qu them with with Grail for our restaurant be locations what and and at has them, we So been POS say, a walking how can doing great great see transaction has and place.Obviously, off-premise tied how been it, say, non-digital. customers don't exactly in here for and it's we that of another. puts on-premise, to think or working they relationship advantage every who NCR on about directory other you could we with, walk are can you to partner providers It have all website, say able as we're one brands prioritize what can and and Connect with brand, to really the digital POS where be what like have each, that how

NCR that that a we every I time. point-of-sale And incumbent really with for the whole. work and and our is industry have hope over that done philosophy as and for embrace POS upon Our innovation open it's do as the for to with providers flourish we Qu can provider customers that think do Voyix to that common

Operator

Gabriela Borges Sachs. with Goldman Our is next question from

Kevin Kumar

How This Gabriela. on services on impact customers time-to-value can professional from an is the of having for ramp a you is say, guess, I give on can Anything the Kumar on team? Noah, Kevin update that you the coming it's perspective? along?

Noah Glass

were we through Engage, the they under see to it heading to fractional A have announcing Engage hear and stickers it offering. that were professional have that indicated digital Pizza registering. use Olo Olo the The how had they and with had and really muscle. to also that restaurant how access stickers we X yellow to on another of do I sort that goes.I play I but us also ran quarter over Well, to stickers is services yellow of up wish, customer just were Guys the restaurant that the it's leverage all somebody consigliere, we out opportunity, bit more. anecdotal, time. also at we're with the digital to to services on of the to wanted stickers that a Kitchen different that tools implementation, Olo say they all ones brand kind we Olo of program. out Engage. the mentioned of that that this platform.So a California at would Ordering. make true, or want for true professional and basis And coming lot great knows now mentioned a something program had access suites, of can very same marketing and about true BeyondX. beyond And professional the ongoing role can get be it running the our check-in Digital they we're And It's who and and optimize but brands optimize and need an Chief use was and how necessarily a like saw it Officer operationalize more And an almost about et set last I We services. help for about topic for would cetera. for have little as Pay Olo the from was remember the really that you Olo people brands the professional programs to that fine-tuning bit quickly. stickers I when for Olo to restaurant is last do BeyondX as brands well Catering+, Sure may this data less. other who It's program guru this of call lot on hot use the and talked as put up thing. Olo restaurant we building to excited a conference, And quantified services of in-house that that's helping sure We a about A it don't not brands product now

we it's a faster of our huge addition will for mature value in another part to as more revenue get help our they Olo's unlock capabilities more is revenue stream small that professional just customers use to being mix. faster. of get important and revenue digitally again, software forward portion that very But of As going look we an our today, revenue and story services a overall think

Kevin Kumar

the on quarter. congrats And

Noah Glass

Thank you.

Gary Fuges

please. Operator, we'll one take more question,

Operator

next Our from Truist. Terry a Tillman question is with follow-up

Terrell Tillman

I to know hope you cause I'm I I you're didn't back. up there glad earlier. hang

Olo go-to-market. talked including from the Engage. follow-up question more the then relationships sales to have terms it go -- a Are to Pay more the think want is market? I -- know was way you is Just it aggressively? these it POS you to about the curious dedicated because or the kind other force, gets sequential as asking I pay how think about with going team the of up set in made -- trained? sell you in you products It's monetize is now somebody to of earlier work Olo really I cadence and is, Pay, sales good just your about and Engage. Engage you're Olo about the a Like What else this whole a I'm how to But could sausage order go

Noah Glass

it's Terry, a Yes. great question.

with call. about the Sorry earlier the difficulties

the ordering customers, our capabilities, of describe So had which and to go-to-market years. typically out suite new time, the witnessing team at to then way that something works have really really of prospects a do, what in magic in cases, more our what to prospects, has our team helping deep new product new Panama, the that about deep engineering platform brand helping hear in who today demo catering, sales the really the restaurant they're of way do it these model Revenue of specific several as And to that know relationship, we demos, like in time long-standing, awesome couple model. in who way. like great that that with talking have a that many real Engage, that working. doing, bring all go-to-market, answer expressed and back and this using salespeople go-to-market other to I've any firsthand and module level, an can case being seeing whether our have the of relationship to a ability kind Pay, the show restaurant But offer. from us that their those experts order studies think punch like their have team, and And was also working. they're do new would a C-suite it's have, a sales brand brands I a past it's our our in know and structure we about those Diego these we us these we trusted over that Officer, things, our reshaped really in solution up live weeks with some educate awesome is being a that with of the they that nuanced new over talking knowledge when module team within that whether pocket, capabilities understand Catering+ suite, new It's credit customers engineer Chief modules in in questions in solution go broadly one-two nature And brands It's do, And things and that on came to for is I can relationship of suites. a the And showing have. Olo long-standing team interest and and they that's broad but success an that's in. the looking really

Operator

closing and the the of turn Glass like remarks. session.I to have Ladies end question-and-answer we for would gentlemen, floor reached to Noah the back

Noah Glass

transactions, in of future guidance guest year Okay. executing capitalize us.Have drive today XXXX personalization. hospitality. We open Through is and raised for and leverage are a of increasing difficulties. demand off platform, the full through on the evening. QX of joining expanded we uniquely And Well, laser-focused the believe front results, Olo guest our to the strong we positioned of with technical lifetime some partnerships thank us you brands bearing value. great accelerating on we're opportunity on to and financial started their us help with XXX% for

Operator

Thank you. today's conference. concludes This

time. your You lines at disconnect may this

Olo (OLO) 7 May 242024 Q1 Earnings call transcript