Olo falls on annual forecast cut

Olo

12/08/2022 11:50

** Shares of Olo Inc  OLO.N , an open software as a service
platform for restaurants, down 32.3% at $8.80 before the bell
    ** Expects full-year 2022 revenue in the range of $183.0
million to $184.0 million, down from its previous forecast of
$195.0 million to $197.0 million  urn:newsml:reuters.com:*:nBw6RcC76a
    ** Narrows FY non-GAAP operating income range to $7.6
mln-$8.4 mln from $7.6 mln-$9.2 mln
    ** Updated annual revenue forecast is below estimates of
$187.2 mln
    ** Sees Q3 Revenue in the range of $46.5 million to $47.0
million vs analysts' estimates of $48.3 mln
    ** As of last close, OLO shares down ~37.6% YTD

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((aatrayee.chatterjee@thomsonreuters.com))