Olo Sees Q4 Revenue $58.5M-$59M Vs $56.94M Est.; FY23 Revenue $223.8M-$224.3M Vs $220.74M Est.

Author: Benzinga Newsdesk | November 06, 2023 06:16pm

Financial Outlook

As of November 6, 2023, Olo is issuing the following outlook:

For the fourth quarter of 2023, Olo expects to report:

• Revenue in the range of $58.5 million to $59.0 million; and
• Non-GAAP operating income in the range of $6.2 million to $6.6 million.

For fiscal year 2023, Olo expects to report:

• Revenue in the range of $223.8 million to $224.3 million; and
• Non-GAAP operating income in the range of $17.6 million to $18.0 million.

The outlook provided above constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including inaccuracies in our assumptions and certain risk factors, many of which are beyond Olo's control. We assume no obligation to update these forward-looking statements. See the cautionary note regarding "Forward-Looking Statements" below.

(1) Prior period amounts including GAAP and non-GAAP gross profit and gross margin have been reclassified to conform with the current year presentation. An explanation of our non-GAAP financial measures are also included below under the heading "Non-GAAP Financial Measures and Other Metrics." An explanation of the reclassification is included as a footnote to the reconciliation of GAAP to non-GAAP financial measures which is provided at the end of this press release.

Posted In: OLO