What is the restaurant delivery app landscape and how does it affect Olo?

The third-party delivery app market: DoorDash (DASH) — approximately 67% U.S. food delivery market share; Uber Eats — approximately 23% U.S. share; Grubhub (Just Eat Takeaway subsidiary) — approximately 10% and declining. How delivery apps work: restaurants list their menu on the delivery app platform; customers order through the app; delivery drivers pick up and deliver; the delivery app charges the restaurant a commission (typically 25-30% of the order value) for providing the customer, the delivery driver, and the logistics coordination. The tension for restaurants: 25-30% commission is extremely expensive (restaurants operate on 3-10% net profit margins); delivery commission can eliminate all restaurant profit on a delivery order; restaurants would prefer customers to order through their own branded channels (restaurant's own app or website) where they control the customer relationship and avoid delivery commissions (using Olo Dispatch with their own delivery driver management). Olo's role in this tension: Olo's platform allows a restaurant to promote 'order directly from us' (lower cost channel) while still processing orders from DoorDash and Uber Eats (high customer acquisition channel, high commission cost); Olo's Order Injection allows DoorDash or Uber Eats orders to enter the POS through the same system as direct orders; Olo helps restaurants manage the hybrid reality of needing delivery marketplaces for customer acquisition while pushing customers toward lower-cost direct channels over time.

What payment terminals does PAX Technology make and who uses them?

PAX Technology's product categories: traditional card payment terminals — countertop payment terminals accepting credit/debit/contactless/QR code payments; used by retailers, restaurants, and service businesses; smart POS devices — Android-based all-in-one POS and payment devices; the PAX A-series (A920, A77, A35) are Android 9+ tablets with built-in card reader, printer, barcode scanner, and LTE connectivity; these run as small computers running restaurant or retail software; wireless/mobile terminals — handheld payment devices for restaurants (tableside payment), taxis, market vendors; payment kiosks — unattended payment terminals for parking garages, vending machines, transit. PAX's global market: PAX is particularly strong in Brazil (one of the largest payment terminal markets globally — Brazil's high electronic payment adoption and complex tax system require sophisticated POS capabilities), Southeast Asia (Vietnam, Thailand, Indonesia), Latin America broadly, and Africa. PAX's U.S. situation: PAX made significant U.S. market inroads in the 2010s through partnerships with U.S. acquirers (Worldpay, Global Payments); however, in 2022-2023, PAX was banned from U.S. federal government contracts due to security concerns about Chinese technology in sensitive payment infrastructure; this has limited PAX's growth in the U.S. market where Verifone and Ingenico (Worldline) dominate.

How does Olo's Olo Pay product work and why is it strategic?

What Olo Pay is: Olo Pay is Olo's payment processing service — when a customer orders food through a restaurant chain's app or website powered by Olo, the payment can be processed through Olo Pay rather than a separate payment processor (Stripe, Braintree, etc.). How payment processing works: when you pay for a delivery order, the transaction flows from your card through the payment network (Visa, Mastercard) to a payment processor (which handles authorization, settlement, and fraud detection) to the restaurant; the payment processor charges the restaurant a processing fee (typically 2.5-3% of the transaction) plus a per-transaction fee; payment processors include Stripe, Square, Adyen, Worldpay, and now Olo Pay. Why Olo Pay is strategic: revenue expansion — payment processing revenue (while lower gross margin than software) adds significant top-line revenue per transaction; Olo processes billions of dollars in digital restaurant orders annually; taking a payment processing cut from each transaction meaningfully expands Olo's revenue per location; data advantage — restaurants using Olo Pay keep all customer payment data within Olo's ecosystem; Olo can use this data to improve fraud detection, provide payment conversion analytics, and power personalized marketing campaigns via Olo Engage; customer authentication — Olo Pay's digital wallet features (saved payment methods, one-click checkout) reduce checkout friction, improving conversion rates for restaurant apps; lower friction → more orders → more revenue for restaurants. Why gross margin impacts matter: payment processing involves interchange fees (paid to card-issuing banks) and network fees (paid to Visa/Mastercard); Olo Pay's gross margin (net processing revenue after interchange and network fees) is approximately 30-40% versus Olo's software gross margins of approximately 80-85%; as Olo Pay grows as a percentage of total revenue, Olo's overall gross margin will compress even as absolute gross profit dollars grow.

brimindinvest.com / compare / ssc-vs-oloLIVE

PAX

PAX Global Technology Limited · Technology - Payment Terminal Hardware

$11.00

-3.51% this month

VERSUS

⟷

COMPARE

OLO

Olo Inc. · Technology - Restaurant Digital Ordering & Guest Engagement

N/A

N/A this month

Scoreboard verdict

Across AI score, momentum, valuation, upside, operating margin

PAX

0

OLO

0

MIXED SETUP

Comparison scoreboard

MIXED SETUP

AI Score

PAX 23.4

OLO N/A

1Y Return

PAX -18.75%

OLO N/A

Fwd P/E

PAX 7.08

OLO N/A

Target Up.

PAX +41.56%

OLO N/A

Op. Margin

PAX N/A

OLO N/A

Metrics last refreshed: 7/9/2026

Quick take

PAX vs OLO Stock Comparison: AI Score, Valuation, Performance and Upside

PAX Technology and Olo are both restaurant/retail technology companies serving different layers of the payments and ordering stack — PAX Technology manufactures the physical payment terminals used in point-of-sale systems globally (strongest in emerging markets), while Olo provides the cloud software enabling restaurant chains to manage digital ordering, delivery, and guest engagement across their branded channels. Olo is the more relevant U.S. restaurant technology investment for domestic investors.

PAX vs OLO is global payment terminal hardware manufacturer competing in emerging markets with software ecosystem (PAX Technology's low-cost Android POS terminals gaining market share in Latin America and Southeast Asia, with U.S. market limitations due to national security scrutiny) versus restaurant digital ordering and guest engagement cloud platform (Olo's infrastructure powering digital ordering for 700+ large restaurant chains — expanding from ordering into payments and marketing with Olo Pay and Olo Engage) — hardware payments infrastructure in emerging markets versus restaurant digital commerce software.

Live analysis · updated 7/9/2026

PAX and OLO are closely matched — they split the tracked metrics evenly.

Normalized 1Y performance

PAX

OLO

Not enough data to chart yet.

Recent returns

PAX

OLO

Analyst price targets & sentiment

PAX · 7 analysts

STRONG BUYHOLDSTRONG SELL

Buy (2.3/5.0)

Price target range

analyst low$12.00
analyst high$20.00
analyst mean$15.57
current price$11.00

+41.6% upside to analyst mean

OLO

Price target data unavailable

N/A

Who should consider this stock?

PAX may suit investors who:

→Want exposure to the rapid adoption of electronic payments in emerging markets (Brazil, Southeast Asia, Africa) where PAX has strong market share in payment terminal infrastructure
→Believe PAX's Android-based smart POS ecosystem will generate increasing software and recurring revenue as merchants install third-party applications on PAX terminals
→Are comfortable with the geopolitical risks of investing in a Hong Kong-listed Chinese technology company in exchange for exposure to global payment terminal growth in price-sensitive emerging markets

OLO may suit investors who:

→Value Olo's entrenched position as the digital ordering infrastructure for large U.S. restaurant chains — 700+ brands representing 80,000+ locations create high switching costs as Olo becomes integrated with each chain's POS, app, and delivery operations
→See Olo Pay as a meaningful TAM expansion opportunity converting Olo from a software vendor to a payments platform — if payment processing take rates grow within Olo's existing location base, incremental revenue is high-margin at scale
→Believe digital ordering growth in restaurants has multi-year runway as consumer preference for mobile and online ordering continues to grow beyond current 30-50% digital share

Performance & AI score

Metric	PAX	OLO
AI score	23.4	N/A
AI rank	#3540	N/A
Latest close	$11.00	N/A
1M return	-3.51%	N/A
6M return	-34.34%	N/A
1Y return	-18.75%	N/A

$10,000 invested — hypothetical growth (dividends reinvested)

How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?

Period	PAX	OLO
1Y ago	$8.52K (-14.8%) started 2025-07-08	N/A
5Y ago	$12.8K (+28.0%) started 2021-07-08	N/A
10Y ago	$9.77K (-2.3%) started 2021-01-22	N/A

Hypothetical — past performance does not guarantee future results.

Valuation & upside potential

Metric	PAX	OLO
Market cap	$1.75B	N/A
Trailing P/E	20.75	N/A
Forward P/E	7.08	N/A
Price/Sales	4.40	6.11
EV/Revenue	4.85	N/A
Analyst target	$15.57	N/A
Target upside	+41.56%	N/A

Growth, profitability & risk

Metric	PAX	OLO
Revenue growth	22.00%	N/A
Earnings growth	-85.20%	N/A
EPS growth	-85.20%	N/A
FCF margin	N/A	N/A
Operating margin	N/A	N/A
Profit margin	18.10%	N/A
ROIC proxy	13.34%	N/A
Return on equity	13.34%	N/A
Dividend yield	5.54%	N/A
Beta	0.74	-0.06
Debt/equity	41.03	N/A
Current ratio	0.64	N/A
Quick ratio	0.40	N/A

Drawdown & downside risk

Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.

1Y risk snapshot

PAX max drawdown37.32%

OLO max drawdownN/A

PAX max wkly drop15.20%

OLO max wkly dropN/A

5Y risk snapshot

PAX max drawdown38.88%

OLO max drawdownN/A

PAX max wkly drop15.78%

OLO max wkly dropN/A

10Y risk snapshot

PAX max drawdown46.17%

OLO max drawdownN/A

PAX max wkly drop15.78%

OLO max wkly dropN/A

Performance metrics by period

Period	Metric	PAX	OLO
1Y	Growth	-18.75%	N/A
	CAGR	-18.76%	N/A
	Sharpe ratio	-0.71	N/A
	Max drawdown	37.32%	N/A
	Max daily drop	6.81%	N/A
	Max wkly drop	15.20%	N/A
5Y	Growth	-7.56%	N/A
	CAGR	-1.56%	N/A
	Sharpe ratio	-0.04	N/A
	Max drawdown	38.88%	N/A
	Max daily drop	8.87%	N/A
	Max wkly drop	15.78%	N/A
10Y	Growth	-30.05%	N/A
	CAGR	-6.34%	N/A
	Sharpe ratio	-0.17	N/A
	Max drawdown	46.17%	N/A
	Max daily drop	9.62%	N/A
	Max wkly drop	15.78%	N/A

Business comparison

Category	PAX	OLO
Company	PAX Global Technology Limited	Olo Inc.
Sector	Technology - Payment Terminal Hardware	Technology - Restaurant Digital Ordering & Guest Engagement
Industry	N/A	N/A
Core business	PAX Technology is a Hong Kong-based payment terminal manufacturer providing point-of-sale (POS) payment terminals and smart POS devices to merchants, banks, and payment service providers globally. PAX makes Android-based smart POS terminals (PAX A-series, PAX D-series) that function as both payment acceptance devices (credit/debit card, contactless NFC, QR code payment) and small POS computers running restaurant or retail software. PAX is one of the world's largest payment terminal manufacturers by volume, competing with Verifone (private), Ingenico (Worldline subsidiary), and Castles Technology. Note: PAX Technology trades on the Hong Kong Stock Exchange; U.S. investors typically access PAX through its OTC ADR or through indirect exposure via payment ecosystem stocks.	Olo is a cloud-based software platform that enables restaurant chains to manage digital ordering across multiple channels — their own branded app, website, self-service kiosks, and third-party delivery platforms (DoorDash, Uber Eats, Grubhub). Olo provides: Order Management (routing orders from any digital channel to the restaurant POS and kitchen), Dispatch (last-mile delivery management, connecting restaurants with third-party delivery couriers), Guest Data (Olo Pay — payment processing, and Olo Engage — guest marketing and loyalty). Olo's restaurant customer base includes large enterprise chains (approximately 80,000+ restaurant locations using Olo), making Olo the leading digital ordering infrastructure for large restaurant brands.
Investor focus	PAX Technology investors track global terminal shipment volumes, ASP (average selling price) per terminal, software and cloud services revenue (recurring revenue from payment services and Android app marketplace on PAX devices), and regional market penetration (particularly China, Latin America, and emerging markets).	Investors track Olo's active locations (number of restaurant locations using Olo's platform), average revenue per location (ARPL), total revenue growth, gross margin (Olo Pay and other payment-adjacent products are lower margin than pure software), and progress cross-selling Olo Pay (payment processing) and Olo Engage (marketing) into the existing ordering customer base.

PAX strengths

→PAX is one of the world's largest payment terminal manufacturers with strong market share in emerging markets — PAX has grown to become a top-3 global payment terminal vendor; strong position in Brazil, Southeast Asia, and Africa where electronic payment adoption is growing rapidly
→Android-based smart POS platform enables software ecosystem beyond pure payment acceptance — PAX's Android terminals can run third-party restaurant or retail software; this software ecosystem creates recurring revenue beyond hardware sales
→Low-cost manufacturing base provides competitive pricing in volume-sensitive emerging markets — PAX's manufacturing in China provides cost structure advantages in price-sensitive markets

OLO strengths

→Olo has deep penetration in enterprise restaurant chains — Olo powers digital ordering for approximately 700+ restaurant brands including major chains (Denny's, Wingstop, Portillo's, Jack in the Box); large chains use Olo as the backend infrastructure for their own-branded apps and websites rather than building custom digital ordering themselves
→Olo Pay expands TAM from pure software to payment processing — adding Olo's own payment processing (Olo Pay) to the ordering platform converts Olo from a software vendor to a fintech; restaurants using Olo Pay keep the customer payment data within Olo's ecosystem, improving data capabilities for targeted marketing
→Digital ordering growth is structurally supported by consumer preference — online and mobile ordering has grown from a small fraction to approximately 30-50% of orders at major QSR and fast casual brands; Olo benefits as this percentage continues growing with consumer expectations

Risks to watch — PAX

→PAX has faced U.S. national security scrutiny that limits its U.S. market access — PAX was banned from U.S. federal government contracts and faced scrutiny about data security; this limits PAX's ability to grow in the U.S. market where Verifone and Ingenico dominate
→Hardware terminal market faces pressure from software-based payment solutions (tap-to-pay on smartphone) — Apple Tap to Pay and similar solutions enable merchants to accept contactless payments on a smartphone without dedicated payment hardware; this could reduce demand for traditional payment terminals long-term
→Complex geopolitical environment for Chinese technology companies creates investment risk — U.S. export controls, cybersecurity scrutiny of Chinese electronics companies, and U.S.-China trade tensions create regulatory uncertainty

Risks to watch — OLO

→Toast is building digital ordering capabilities that compete with Olo's standalone platform — Toast's own online ordering and delivery integration features reduce the incentive for Toast POS customers to also subscribe to Olo; as Toast's market penetration grows, Olo's standalone digital ordering value proposition faces displacement for smaller chains using Toast as their all-in-one platform
→Olo must demonstrate that Olo Pay adoption translates to materially better margins — Olo Pay generates payment processing revenue at lower gross margins than software; if Olo Pay adoption dilutes gross margins without enough incremental revenue, the economics are worse than pure-play software
→Enterprise restaurant chains are large but finite — Olo has already signed most of the major enterprise restaurant chains (700+ brands, 80,000+ locations); incremental growth requires either expanding within existing customers (more locations, more products) or winning smaller restaurant chains where Toast and other integrated POS platforms compete more aggressively

Frequently asked questions

Problem Olo solves: a large restaurant chain (say, Wingstop with 1,800+ locations) wants customers to order online through the Wingstop app and website; separately, customers order Wingstop through DoorDash and Uber Eats; each of these ordering channels must connect to each restaurant location's POS system to send the order to the kitchen; without Olo, the restaurant chain would need to build custom integrations between their branded app (custom code), their POS (different vendors across locations), and each delivery marketplace — expensive, complex, and requiring ongoing maintenance. Olo's solution: Olo provides a single middleware layer that: receives orders from any digital channel (branded app, branded website, kiosk, DoorDash, Uber Eats, Grubhub, Caviar); translates and formats the order for the specific POS system at each restaurant location (Olo integrates with 100+ POS systems — Toast, Aloha, Oracle MICROS, Square); routes the order to the kitchen in real time; manages menu pricing and availability synchronization (if a menu item is 86'd, Olo ensures it's hidden from all digital ordering channels simultaneously); handles order throttling during rush periods (limiting incoming orders to manageable volume). Olo Dispatch (delivery): Olo also manages last-mile delivery by routing delivery orders to the appropriate couriers (DoorDash Drive, Uber Eats Courier, Relay, etc.); restaurant chains get independent delivery capabilities without exclusively depending on the marketplace platforms. Value to chains: using Olo, a chain like Wingstop can have a single platform managing all digital orders, with a single API connection rather than dozens of individual integrations; Olo's integrations are maintained by Olo's engineering team rather than Wingstop's engineers.

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