Why Olo Stock Went Up Today
Shares of restaurant technology company Olo (NYSE: OLO) went up on Wednesday after the company reported financial results for the fourth quarter of 2024. As of 12:40 p.m. ET, Olo stock was up about 6%, but it had been up nearly 12% earlier in the day.
There are 86,000 restaurant locations that use Olo's technology -- it started as online ordering, but it offers a variety of services today to meet the needs of restaurant companies. And 2024 was a good year for Olo. Full-year revenue was up 25% year over year, thanks to Q4 revenue that came in above management's guidance.
Olo's outlook for 2025 is good too. The company expects full-year revenue of $333 million to $336 million. That's a growth rate of about 17%, which is a slowdown from 2024 but still relatively strong. Moreover, management expects full-year adjusted operating income of up to $47 million, a substantial step up from its adjusted operating income of $33 million in 2024.
Source Fool.com
