Olo Announces $100 Million Share Repurchase Program
September 07 2022 - 4:15PM
Business Wire
Demonstrates conviction in Olo’s strategy and
commitment to delivering shareholder value through disciplined
capital allocation
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.
Forward Looking Statements
Statements we make in this press release include statements that
are considered forward-looking within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act,
which may be identified by the use of words such as “anticipates,”
“believes,” “continue,” “estimates,” “expects,” “predicts,”
“intends,” “may,” “plans,” “projects,” “outlook,” “seeks,”
“should,” “could,” “would,” “will,” “potential,” “likely,” and
similar terms or the negative of such terms. All statements other
than statements of historical fact are forward-looking statements
for purposes of this press release.
We intend these forward-looking statements to be covered by the
safe harbor provisions for forward-looking statements contained in
Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act and are making this statement for purposes of
complying with those safe harbor provisions. These statements
include, but are not limited to, statements regarding the amount,
timing and sources of funding for the share repurchase program.
These statements are neither promises nor guarantees, but involve
known and unknown risks, uncertainties and other important factors
that may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements, including, but not limited to, risks relating to the
fact that common stock repurchases may not be conducted in the
timeframe or in the manner we expect, or at all. Additional risks
and uncertainties that could affect our financial results and
forward-looking statements are included under the caption “Risk
Factors” in our Quarterly Report on Form 10-Q for the quarter ended
June 30, 2022, our Annual Report on Form 10-K for the year ended
December 31, 2021, and our other SEC filings, which are available
on the “Investor Relations” page of our website at
investors.olo.com and on the SEC’s website at www.sec.gov. These
factors could cause actual results to differ materially from those
indicated by the forward-looking statements made in this press
release. Any such forward-looking statements represent management’s
estimates as of the date of this press release. While we may elect
to update such forward-looking statements at some point in the
future, we disclaim any obligation to do so, even if subsequent
events cause our views to change.
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