Cimmaron's questions to Olo Inc (OLO) leadership • Q2 2024
Question
Cimmaron, on for Matthew Hedberg at RBC Capital Markets, asked about the most exciting drivers of ARPU expansion and how Q2 ARPU performed against expectations, and also inquired about evolving customer preferences across different service models.
Answer
CFO Peter Benavides stated that Q2 ARPU exceeded expectations due to outperformance across all product suites and durable digital ordering trends. He noted the long-term goal is to expand ARPU 25x, driven by Pay adoption and monetizing all transactions. CEO Noah Glass discussed service model trends, highlighting the drive-thru's dominance (36% of transactions) and the opportunity for digitization there, the continued resonance of delivery (9%), and the strength of digital pickup (29%).