Table Of Contents OLO INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (in thousands, except share and per share amounts) Three Months Ended March 31, 2022 2021 Revenue: Platform $ 41,466 $ 34,923 Professional services and other 1,290 1,200 Total revenue 42,756 36,123 Cost of revenue: Platform 11,024 5,607 Professional services and other 1,778 1,243 Total cost of revenue 12,802 6,850 Gross Profit 29,954 29,273 Operating expenses: Research and development 16,825 14,456 General and administrative 17,961 18,454 Sales and marketing 8,070 3,836 Total operating expenses 42,856 36,746 Loss from operations (12,902) (7,473) Other income (expenses), net: Other income (expense), net 58 (18) Change in fair value of warrant liability — (18,930) Total other income (expenses), net 58 (18,948) Loss before income taxes (12,844) (26,421) (Benefit) provision for income taxes (1,335) 36 Net loss and comprehensive loss $ (11,509) $ (26,457) Accretion of redeemable convertible preferred stock to redemption value — (14) Net loss attributable to Class A and Class B common stockholders $ (11,509) $ (26,471) Net loss per share attributable to Class A and Class B common stockholders: Basic $ (0.07) $ (0.63) Diluted $ (0.07) $ (0.63) Weighted-average Class A and Class B common shares outstanding: Basic 159,190,371 41,855,757 Diluted 159,190,371 41,855,757 The accompanying notes are an integral part of these financial statements. 2