The extended-market surge in Olo Inc. (NYSE: OLO) shares on Tuesday ensued following the disclosure of its financial performance. The uptick in OLO stock amounted to 10.66% during after-hours trading, reaching $5.19, effectively counterbalancing the 3.70% decline during the regular session, which concluded at $4.69.
During the first quarter, Olo Inc (OLO) commenced its fiscal year on a promising note by meeting its 2024 financial objectives, manifesting a 27% year-over-year revenue growth and expanding its non-GAAP operating margin to 8%.
Furthermore, its recent collaborations with NCR Voyix and Qu are propelling the company closer to the imminent launch of comprehensive Pay functionality later this year. This initiative will facilitate access to guest data beyond digital transactions, which account for over 80% of transactions in the restaurant industry.
Positioned uniquely with omnichannel guest data at scale and equipped with AI and machine learning capabilities, Olo is poised to assist brands in delivering tailored guest experiences, thereby bolstering sales and augmenting guest lifetime value.
In a separate announcement made yesterday, it was disclosed that Dutch Bros has chosen Olo to facilitate seamless ordering and payment through its mobile application for the first time. Rolling out across all its nationwide outlets, Dutch Bros will implement Olo Order and Pay to enhance operational efficiency at the drive-thru and streamline the ordering and payment process for patrons.
As Dutch Bros endeavors to enhance the drive-thru experience while upholding its hallmark people-centric culture, partnering with Olo will provide adaptable mobile ordering and payment solutions for its extensive customer base.
With expectations for full availability across the brand by year-end, Dutch Bros’ digital ordering and payment capabilities will empower patrons to order and pay for their preferred beverages via their mobile devices prior to arriving at the drive-thru.
This development not only caters to guests seeking efficiency and convenience but also expedites transactions for staff members. For added convenience, Olo’s versatile platform facilitates payments through Google Pay and Apple Pay in Mobile Wallets.
Additionally, Olo’s Order and Pay offerings seamlessly integrate with Dutch Bros’ existing mobile application and Dutch Rewards program, ensuring a seamless experience for the millions of patrons already enrolled.
