Table Of Contents PART I - FINANCIAL INFORMATION Item 1. Financial Statements. OLO INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share amounts) As of Mar ch 31, 2022 As of December 31, 2021 ASSETS Current assets: Cash and cash equivalents $ 463,733 $ 514,445 Accounts receivable, net of allowances of $677 and $657, respectively 47,410 42,319 Contract assets 474 568 Deferred contract costs 2,551 2,567 Prepaid expenses and other current assets 9,763 5,718 Total current assets 523,931 565,617 Property and equipment, net 5,873 3,304 Intangible assets, net 24,713 19,635 Goodwill 207,607 162,956 Contract assets, noncurrent 521 387 Deferred contract costs, noncurrent 3,390 3,616 Operating lease right-of-use assets 17,920 — Other assets, noncurrent 356 361 Total assets $ 784,311 $ 755,876 LIABILITIES AND ST OCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 3,360 $ 2,184 Accrued expenses and other current liabilities 49,572 45,395 Unearned revenue 3,924 1,190 Operating lease liabilities, current 2,594 — Total current liabilities 59,450 48,769 Unearned revenue, noncurrent 2,050 3,014 Operating lease liabilities, noncurrent 17,680 — Other liabilities, noncurrent 126 2,343 Total liabilities 79,306 54,126 Commitments and contingencies (Note 15) Stockholders’ equity: Class A common stock, $0.001 par value; 1,700,000,000 shares authorized at March 31, 2022 and December 31, 2021; 89,660,186 and 78,550,530 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively . Class B common stock, $0.001 par value; 185,000,000 shares authorized at March 31, 2022 and December 31, 2021; 70,027,999 and 79,149,659 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 160 158 Preferred stock, $0.001 par value; 20,000,000 shares authorized at March 31, 2022 and December 31, 2021 — — Additional paid-in capital 827,928 813,166 Accumulated deficit (123,083) (111,574) Total stockholders’ equity 705,005 701,750 Total liabilities and stockholders’ equity $ 784,311 $ 755,876 The accompanying notes are an integral part of these financial statements. 1