NEW YORK–(BUSINESS WIRE)–Olo Inc. (NYSE: OLO), a leading open SaaS platform for restaurants that enables hospitality at every touchpoint, today announced that its board of directors authorized a share repurchase program for up to $100,000,000 of the Company’s Class A common stock. The authorization to repurchase has no expiration date and will be executed consistent with the Company’s capital allocation strategy, which will continue to prioritize long-term growth while balancing profitability.
“This repurchase program is a clear sign of our conviction in Olo’s growth opportunity ahead and the strength of Olo’s balance sheet,” said Olo’s Founder and CEO, Noah Glass. “We believe in prioritizing and balancing capital allocation to maximize value for our shareholders, and I believe this initiative supports that objective.”
About Olo
Olo is a leading open SaaS platform for restaurants that enables hospitality at every touchpoint. Millions of orders per day run on Olo’s on-demand commerce engine, providing restaurants a single source to understand and serve every guest from every channel, whether direct or third-party. With integrations to over 300 technology partners, Olo customers can build personalized guest experiences in and outside of their four walls, utilizing one of the largest and most flexible restaurant tech ecosystems on the market. Over 600 restaurant brands trust Olo to grow their digital ordering and delivery programs, increase operational efficiency, and make every guest feel like a regular. Learn more at olo.com.
