Olo Stock Price, News & Analysis

Olo Inc. (former NYSE: OLO) was a publicly traded restaurant technology company that became a wholly owned subsidiary of an affiliate of Thoma Bravo following a merger completed in September 2025. According to its public disclosures, Olo operated an open SaaS platform focused on ordering, payment, and guest engagement solutions for restaurant brands. The company described its mission as helping restaurants increase orders, streamline operations, and improve the guest experience by connecting digital ordering and payment flows with guest data across channels.

Olo reported that each day it processed millions of orders on its SaaS platform. It stated that it gathered data from each guest touchpoint into a single source so restaurant brands could better understand and serve guests on every channel. Public communications noted that more than 750 restaurant brands and tens of thousands of locations used Olo’s technology, and that the company maintained a network of more than 400 integration partners.

Business focus and solutions

In its news releases and filings, Olo consistently described itself as a restaurant technology provider offering:

• Ordering solutions that enabled digital ordering for pickup and delivery, including integrations with delivery providers and restaurant systems.
• Payment solutions under the Olo Pay brand, covering card-not-present transactions and, through partnerships, card-present functionality.
• Guest engagement solutions that helped brands use guest data and feedback to improve marketing, loyalty, and the overall guest experience.

Olo also referred to specific modules and products in its public updates, including its Dispatch delivery management product, Catering+ for catering operations, Sentiment for reputation and feedback management, and Borderless, a passwordless checkout feature that the company said had tens of millions of accounts across hundreds of brands. The company’s releases described these modules as part of a broader platform used by enterprise and emerging enterprise restaurant brands.

Customer base and ecosystem

Olo’s news releases highlighted deployments and expansions with a variety of restaurant brands. The company stated that it served more than 750 restaurant brands and approximately 80,000–90,000 active locations over recent reporting periods. It also emphasized that its technology was integrated with a network of over 400 partners, including payment gateways, delivery marketplaces, and other restaurant technology providers. This ecosystem approach was presented as a way to support restaurant operations across ordering, payments, delivery, catering, and guest engagement.

The company’s communications referenced enterprise brands and emerging enterprise brands using multiple Olo modules, as well as specific use cases such as first-party catering, card-not-present payments, card-present payments through a partner gateway, and integrations with loyalty providers. Olo also disclosed metrics such as gross merchandise volume (GMV), representing the gross value of orders processed through its platform, and gross payment volume (GPV), representing payments processed through Olo Pay, as indicators of platform usage.

Corporate status, merger, and delisting

Olo was previously listed on the New York Stock Exchange under the ticker symbol OLO. On July 3, 2025, the company announced that it had entered into an Agreement and Plan of Merger with Project Hospitality Parent, LLC (an entity affiliated with Thoma Bravo) and Project Hospitality Merger Sub, Inc. Under this agreement, Merger Sub would merge with and into Olo, with Olo surviving as a wholly owned subsidiary of the parent entity. Olo’s board of directors unanimously approved the merger agreement.

Subsequent SEC filings report that Olo stockholders approved the merger at a special meeting held on September 9, 2025. An 8-K filed on September 12, 2025 states that on that date the acquisition of Olo by Olo Parent, Inc. (formerly Project Hospitality Parent, LLC) was completed, and Merger Sub merged with and into Olo, with Olo surviving as a wholly owned subsidiary of the parent. The filing explains that each share of Olo Class A and Class B common stock outstanding immediately prior to the effective time (with certain exceptions) was converted into the right to receive cash consideration under the merger terms.

In connection with the closing of the merger, the same September 12, 2025 8-K notes that Olo notified the New York Stock Exchange of the consummation of the transaction and requested that the NYSE file a Form 25 to remove Olo’s Class A common stock from listing and registration under Section 12(b) of the Exchange Act. A Form 25-NSE dated September 12, 2025, filed by the NYSE, confirms the notification of removal from listing and/or registration of Olo’s Class A common stock.

Following the merger and delisting, Olo filed a Form 15 (Form 15-12G) on September 23, 2025, certifying the termination of registration under Section 12(g) of the Exchange Act and suspension of reporting obligations under Sections 13 and 15(d). The Form 15 notes that, effective as of September 11, 2025, Merger Sub merged with and into Olo, with Olo surviving as a wholly owned subsidiary of Olo Parent, Inc., and that the approximate number of holders of record as of the certification date was one. As a result, Olo’s common stock is no longer listed on any public stock exchange, and the company is no longer required to file periodic reports as a standalone public registrant.

Key operating metrics and disclosures

In its earnings releases and related 8-K filings prior to the merger closing, Olo reported various non-GAAP financial measures and key performance indicators, including:

• Average revenue per unit (ARPU), defined as total platform revenue in a period divided by average active locations in that period.
• Dollar-based net revenue retention (NRR), calculated based on platform revenue from a cohort of active customers over a 12‑month period, including expansion and net of contraction or attrition.
• Active locations, defined as unique restaurant locations using or subscribed to one or more Olo modules in a quarterly period.
• Gross merchandise volume (GMV), defined as the gross value of orders processed through the platform.
• Gross payment volume (GPV), defined as the gross volume of payments processed through Olo Pay.

The company stated that management used these metrics to evaluate business performance, demand for products, and the stability and growth of its revenue base. Olo also provided reconciliations of non-GAAP measures to GAAP results in its financial statement tables and described the adjustments used, such as stock-based compensation, certain litigation-related expenses, non-cash impairment charges, capitalized internal-use software and intangible amortization, and transaction costs associated with the merger.

Regulatory and governance context

Olo’s SEC filings around the merger include descriptions of the merger process, stockholder approvals, regulatory clearances, and related litigation. An 8-K dated August 18, 2025 notes that the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for the merger. Another 8-K dated August 28, 2025 describes stockholder litigation and demand letters related to disclosures in the proxy statement and notes that the company provided supplemental disclosures while stating that it believed the claims were without merit.

Filings also detail stockholder votes on the merger and advisory votes on executive compensation in connection with the transaction, as well as changes in control and modifications to equity awards for certain officers in connection with the closing. After the effective time of the merger, the September 12, 2025 8-K reports that the directors of the merger subsidiary became directors of the surviving corporation, and that the officers of Olo immediately prior to the effective time became the officers of the surviving corporation.

Olo as a former public company

For investors researching the historical OLO stock, it is important to note that Olo no longer trades as an independent public company. The merger with an affiliate of Thoma Bravo resulted in Olo becoming a private, wholly owned subsidiary, with its common stock delisted from the NYSE and its SEC registration terminated as documented in the Form 25 and Form 15 filings. The descriptions above reflect information from the company’s public news releases and SEC filings prior to and around the time of the transaction.