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Olo Announces Second Quarter 2021 Financial Results ● Second - Quarter Revenue Grew 48 % Year - over - Year on Continued Active Location and Transaction Volume Growth New York , New York - August 10 , 2021 - Olo Inc. ( NYSE : OLO ) , a leading on - demand commerce platform powering the restaurant industry's digital transformation , today announced financial results for the second quarter ended June 30 , 2021 . ● Exhibit 99.1 " The second quarter was another strong quarter of profitable growth for Olo . Restaurant digital sales proved durable during the second quarter , demonstrating that the restaurant industry's digital transformation is not just about delivery but all ordering modes . We are excited that Olo's platform is enabling restaurant brands to digitize every transaction , not just delivery transactions , " said Noah Glass , Olo's Founder and CEO . Second - Quarter Financial and Other Highlights Total revenue increased 48 % year - over - year to $ 35.9 million . Platform revenue increased 53 % year - over - year to $ 34.5 million . Gross profit increased 42 % year - over - year to $ 28.5 million , or 80 % of total revenue . Non - GAAP gross profit increased 46 % year - over - year to $ 29.5 million , or 82 % of total revenue . Operating income decreased $ 8.2 million year - over - year to an operating loss of $ ( 2.4 ) million , or ( 7 ) % of total revenue . Non - GAAP operating income decreased $ 1.1 million year - over - year to $ 5.9 million , or 16 % of total revenue . Net loss was $ ( 2.4 ) million or $ ( 0.02 ) per share , compared to net income of $ 3.9 million or $ 0.00 per share a year ago . Non - GAAP net income was $ 5.8 million or $ 0.03 per share , compared to a non - GAAP net income of $ 6.8 million or $ 0.05 per share a year ago . Cash and cash equivalents were $ 575.2 million . Ending active locations increased 30 % year - over - year to approximately 74,000 . Average revenue per unit ( ARPU ) increased 13 % year - over - year to approximately $ 486 . Dollar - based net revenue retention ( NRR ) remained over 120 % . Second - Quarter and Recent Business Highlights Olo deployed a number of leading brands onto the platform , including Potbelly Sandwich Shop , an enterprise fast - casual concept . Potbelly converted from a legacy technology stack onto Olo , leveraging Olo's open SaaS platform to implement a highly customized and personalized digital program to meet the needs of their evolving consumer . Olo showcased its extensible platform with the deployment of Jack in the Box , which utilized the Dispatch product module to augment its proprietary digital ordering system . Olo's modular architecture means customers can select product modules independent of the Ordering platform to address their unique needs . Olo is proud to support Jack in the Box as they continue their digital journey through the use of Olo's Dispatch module . Olo continued to service and expand the presence of virtual brands on the platform , including enabling Thighstop , a chicken - thigh focused virtual concept from Wingstop , to launch on the platform in a matter of weeks . Virtual brands continue to represent an emerging digital and delivery - only service model that allows Olo's customers to leverage their operations to maximize revenue per square foot . Olo added Grubhub as a new Olo Rails partner this quarter . Olo customers can now utilize Olo Rails to operationalize and manage all major national digital ordering aggregators . Now , mutual restaurant customers can streamline order management through a robust set of features including Point of Sale ( POS ) integration , accurate menu availability and pricing information , and store location and hours . Pilot brands such as Smoothie King have touted the benefits of the partnership in ensuring accurate menu information and reductions in order errors , greatly enhancing customer experience . Olo completed development of the mobile app version of Serve , a white - label branded ordering experience , which further underscores Olo's commitment to building the best open SaaS platform for multi - location restaurant brands . Brands are now able to offer feature parity with the Serve web experience , which has boosted conversion rates through