SEC Comment Letter 0000000000-23-005528 to Olo Inc. (OLO) (CIK 0001431695)
Olo Inc. (OLO) (CIK 0001431695)
Date: May 24, 2023 · CIK: 0001431695 · Accession: 0000000000-23-005528
AI Filing Summary & Sentiment
File numbers found in text: 001-40213
Letter
United States securities and exchange commission logo May 24, 2023 Peter Benevides Chief Financial Officer Olo Inc. 99 Hudson Street 10th Floor New York, NY 10013 Re:Olo Inc. Form 8-K dated February 22, 2023 Response dated May 10, 2023 File No. 001-40213 Dear Peter Benevides: We have reviewed your May 10, 2023 response to our comment letter and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our April 27, 2023 letter. Form 8-K Filed February 23, 2023 Exhibit 99.1, page 1 1.We note your response to comment 1. Please tell us the Net income, non-GAAP effective tax rate for each period presented and explain why it's reasonable. Also, explain why it's appropriate to use GAAP tax benefits considering your history of significant Net income, non-GAAP. In this regard, you should include current and deferred income tax expense commensurate with this non-GAAP measure of profitability. Refer to Question 102.11 of the Non-GAAP Financial Measures Compliance & Disclosure Interpretations. You may contact Scott Stringer at 202-551-3272 or Adam Phippen at 202-551-3336 with any questions.
FirstName LastNamePeter Benevides Comapany NameOlo Inc. May 24, 2023 Page 2 FirstName LastName Peter Benevides Olo Inc. May 24, 2023 Page 2 Sincerely, Division of Corporation Finance Office of Trade & Services
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United States securities and exchange commission logo
May 24, 2023
Peter Benevides
Chief Financial Officer
Olo Inc.
99 Hudson Street
10th Floor
New York, NY 10013
Re:Olo Inc.
Form 8-K dated February 22, 2023
Response dated May 10, 2023
File No. 001-40213
Dear Peter Benevides:
We have reviewed your May 10, 2023 response to our comment letter and have the
following comment. In our comment, we may ask you to provide us with information so we may
better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional
comments. Unless we note otherwise, our references to prior comments are to comments in our
April 27, 2023 letter.
Form 8-K Filed February 23, 2023
Exhibit 99.1, page 1
1.We note your response to comment 1. Please tell us the Net income, non-GAAP effective
tax rate for each period presented and explain why it's reasonable. Also, explain why it's
appropriate to use GAAP tax benefits considering your history of significant Net income,
non-GAAP. In this regard, you should include current and deferred income tax expense
commensurate with this non-GAAP measure of profitability. Refer to Question 102.11 of
the Non-GAAP Financial Measures Compliance & Disclosure Interpretations.
You may contact Scott Stringer at 202-551-3272 or Adam Phippen at 202-551-3336 with
any questions.
FirstName LastNamePeter Benevides
Comapany NameOlo Inc.
May 24, 2023 Page 2
FirstName LastName
Peter Benevides
Olo Inc.
May 24, 2023
Page 2
Sincerely,
Division of Corporation Finance
Office of Trade & Services