AvidXchange Holdings

AvidXchange Holdings, Inc. engages in the provision of accounts payable (AP) automation software and payment solutions. Its cloud-based, software and payment platform digitizes and automates the AP workflows for middle market businesses and their suppliers. The firm provides solutions and services throughout North America spanning multiple industries including real estate, homeowners associations, construction, financial services, healthcare facilities, social services, education, and media. Its business roots back to the year 2000, when AvidXchange, Inc. was founded. The company was formed on January 27, 2021 as a holding company and is headquartered in Charlotte, NC.

Earnings data Q3 2021

Earnings data Q4 2021

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Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

AvidXchange reports strong Q4 performance, eyes automation for future growth

AvidXchange Holdings delivered a strong performance in Q4 2022, showcasing talent elevation, product advancements, and revenue growth, positioning for EBITDA profitability in 2023.
While facing challenges from macro pressures and pricing strategies, the company focuses on managing expenses, driving automation, and leveraging growth opportunities for future success.
With a strategic approach to balancing strengths, challenges, and opportunities, AvidXchange aims to navigate market dynamics, drive revenue growth, and enhance profitability in the coming years.
Investors can expect continued innovation, customer growth, and financial improvements as AvidXchange positions itself for long-term success in the automation software market.

AvidXchange reports first adjusted EBITDA profit post-IPO, raises 2023 outlook

AvidXchange's Q1 2023 performance exceeded expectations, showcasing strong revenue growth, improved gross margins, and operational efficiency, setting a positive tone for future profitability and expansion.
The company's strategic strengths in market resiliency, payment monetization, and partnership pace, coupled with new vertical entries and product enhancements, position them for sustained growth and market leadership.
While facing macroeconomic uncertainties and revenue management challenges, AvidXchange remains optimistic, leveraging opportunities in payment innovation, market expansion, and AI technology to drive future success and profitability.

AvidXchange exceeds Q2 targets, eyes growth in electronic payments

AvidXchange's Q2 performance reflects consistent growth and profitability, driven by strategic focus on innovation, customer expansion, and financial targets.

AvidXchange posts strong Q3 results, eyes growth through strategic partnerships

AvidXchange's Q3 performance reflects robust revenue growth, profitability, and strategic focus on middle market customers, underpinning the company's strong market position and growth potential.
While facing challenges in a volatile business environment and transitioning key operations, AvidXchange remains optimistic about future opportunities driven by innovative partnerships and growth strategies.
With a clear vision for sustained growth, market differentiation, and financial strength, AvidXchange aims to solidify its position as a leading player in the electronic payment landscape, leveraging strategic initiatives and core competencies.

AvidXchange exceeds Q4 expectations, eyes revenue growth and innovation

AvidXchange Holdings delivered strong financial results in Q4 2023, showcasing revenue growth, margin expansion, and operational efficiency. The company's focus on customer engagement, innovation, and strategic investments positions them well for future growth. With a solid balance sheet and optimistic outlook for 2024 revenue, AvidXchange is poised for continued success.

AvidXchange exceeds Q1 revenue, eyes growth amid margin challenges

AvidXchange Holdings delivered a robust performance in Q1 2024, marked by strong revenue growth, improved margins, and disciplined expense management.
Despite challenges such as potential margin pressure and revenue volatility, the company remains optimistic about growth prospects and strategic partnerships.
With a focus on operational excellence and customer engagement, AvidXchange is well-positioned to capitalize on opportunities in product innovation and market expansion.
Overall, AvidXchange's financial performance reflects resilience amid macroeconomic uncertainties, underpinned by a commitment to driving growth through strategic initiatives.

AvidXchange reports record Q2 earnings, optimistic about future growth

AvidXchange delivered strong financial results in Q2 2024, achieving its first-ever GAAP net income and exceeding revenue expectations. The company's focus on disciplined execution, strategic partnerships, and operational efficiency drove growth and profitability. Despite macroeconomic challenges and concerns about supply chain disruptions, AvidXchange remains optimistic about its future growth trajectory.
The company's performance in the software segment was robust, with a 20% growth in subscription revenue and successful cost-saving initiatives. Non-GAAP gross margins exceeded expectations, reaching 72.6%, showcasing the company's financial strength. AvidXchange's emphasis on innovation and transformational value proposition underlines its resilience and strategic focus.
While challenges like potential supply chain disruptions were acknowledged, AvidXchange remains focused on driving growth through operational rigor and strategic partnerships. The company's positive outlook, successful financial performance, and strong operational efficiencies position it well for future opportunities. AvidXchange's commitment to disciplined execution and growth initiatives highlights its potential for continued success.

AvidXchange excels in Q3, eyes growth through strategic partnerships

AvidXchange's Q3 performance reflects strong financial health and strategic growth initiatives in the B2B payments automation market.
While facing challenges like limited cross-border demand, the company is well-positioned to leverage opportunities in domestic markets and product innovation.
Investors can anticipate continued value creation driven by bank partnerships and a focus on sustained growth in future quarters.

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AvidXchange Holdings, Inc. engages in the provision of accounts payable automation software and payment solutions. Its cloud-based software and payment platform digitizes and automates the AP workflows for middle market businesses and their suppliers. The firm provides solutions and services throughout North America spanning multiple industries including real estate, homeowner's associations, construction, financial services, healthcare facilities, social services, education, and media. The company was founded by Michael S. Praeger in 2000 and is headquartered in Charlotte, NC.

LOS ANGELES, Aug. 8, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of AvidXchange Holdings, Inc. ("AvidXchange" or "the Company") (NASDAQ: AVDX)  for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

AVDX Investors Have Opportunity to Join AvidXchange Holdings, Inc. Fraud Investigation with the Schall Law Firm

NEW YORK CITY, NY / ACCESSWIRE / August 7, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AvidXchange Holdings, Inc. ("AvidXchange" or "the Company") (NASDAQ:AVDX). Investors who purchased AvidXchange securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/AVDX.

AVDX STOCKHOLDER ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into AvidXchange Holdings, Inc. and Encourages Shareholders to Contact the Firm!

NEW YORK, NY / ACCESSWIRE / August 6, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of AvidXchange Holdings, Inc. ("AvidXchange") (NASDAQ:AVDX) concerning possible violations of federal securities laws. AvidXchange conducted its initial public offering ("IPO") on or around October 12, 2021, selling 26.4 million shares priced at $25.00.

AvidXchange Holdings, Inc. Investigation Ongoing: Contact Levi & Korsinsky About Potential Securities Fraud Allegations - AVDX

NEW YORK CITY, NY / ACCESSWIRE / August 6, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AvidXchange Holdings, Inc. ("AvidXchange" or "the Company") (NASDAQ:AVDX). Investors who purchased AvidXchange securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/AVDX.

AVDX SHAREHOLDER ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into AvidXchange Holdings, Inc. and Encourages Shareholders to Contact the Firm!

NEW YORK CITY, NY / ACCESSWIRE / August 5, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AvidXchange Holdings, Inc. ("AvidXchange" or "the Company") (NASDAQ:AVDX). Investors who purchased AvidXchange securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/AVDX.

AVDX INVESTOR ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into AvidXchange Holdings, Inc. and Encourages Shareholders to Contact the Firm!

NEW YORK CITY, NY / ACCESSWIRE / August 4, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AvidXchange Holdings, Inc. ("AvidXchange" or "the Company") (NASDAQ:AVDX). Investors who purchased AvidXchange securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/AVDX.

AVDX STOCKHOLDER ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into AvidXchange Holdings, Inc. and Encourages Investors to Contact the Firm!

NEW YORK, NY / ACCESSWIRE / August 2, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AvidXchange Holdings, Inc. ("AvidXchange" or "the Company") (NASDAQ:AVDX). Investors who purchased AvidXchange securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/AVDX.

AVDX SHAREHOLDER ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into AvidXchange Holdings, Inc. and Encourages Investors to Contact the Firm!

NEW YORK CITY, NY / ACCESSWIRE / August 1, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AvidXchange Holdings, Inc. ("AvidXchange" or "the Company") (NASDAQ:AVDX). Investors who purchased AvidXchange securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/AVDX.

AVDX INVESTOR ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into AvidXchange Holdings, Inc. and Encourages Investors to Contact the Firm!

AvidXchange's Q2 report delivered sales that beat expectations. But the company's earnings for the quarter missed Wall Street's target.

Why AvidXchange Stock Plummeted Today

AvidXchange Holdings, Inc. (NASDAQ:AVDX ) Q2 2024 Earnings Conference Call July 31, 2024 10:00 AM ET Company Participants Michael Praeger - Chairman, CEO & Co-Founder Joel Wilhite - CFO Conference Call Participants Dave Koning - Robert W. Baird & Co. Ramsey El-Assal - Barclays Bank James Friedman - Susquehanna Andrew Bauch - Wells Fargo Finance Darrin Peller - Wolfe Research James Faucette - Morgan Stanley Craig Maurer - FT Partners Timothy Chiodo - UBS Alex Markgraff - KeyBanc Capital Markets Rufus Hone - BMO Capital Markets Clarke Jeffries - Piper Sandler & Co. Tien-Tsin Huang - JPMorgan Chase & Co. Operator Good morning, everyone, and thank you for joining us for the AvidXchange Holdings, Inc., Second Quarter 2024 Earnings Call.

AvidXchange Holdings, Inc. (AVDX) Q2 2024 Earnings Call Transcript

The headline numbers for AvidXchange (AVDX) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

AvidXchange (AVDX) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

AvidXchange Holdings, Inc. (AVDX) came out with quarterly earnings of $0.05 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to break-even earnings per share a year ago.

AvidXchange Holdings, Inc. (AVDX) Surpasses Q2 Earnings Estimates

CHARLOTTE, N.C., July 31, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced financial results for the second quarter ended June 30, 2024.

AvidXchange Announces Second Quarter 2024 Financial Results

The latest trading day saw AvidXchange Holdings, Inc. (AVDX) settling at $12.43, representing a -1.97% change from its previous close.

AvidXchange Holdings, Inc. (AVDX) Stock Slides as Market Rises: Facts to Know Before You Trade

In the closing of the recent trading day, AvidXchange Holdings, Inc. (AVDX) stood at $12.68, denoting a +1.52% change from the preceding trading day.

AvidXchange Holdings, Inc. (AVDX) Rises As Market Takes a Dip: Key Facts

AvidXchange (AVDX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

All You Need to Know About AvidXchange (AVDX) Rating Upgrade to Buy

CHARLOTTE, N.C., July 08, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced that its second quarter 2024 ended June 30, 2024, financial results will be released on Wednesday, July 31, 2024. AvidXchange will host a conference call at 10:00 AM ET on July 31, 2024, to discuss the company's financial results.

AvidXchange Announces Timing of Its Second Quarter 2024 Financial Results Conference Call and Webcast

AvidXchange Holdings, Inc. (AVDX) concluded the recent trading session at $11.66, signifying a +1.04% move from its prior day's close.

Why AvidXchange Holdings, Inc. (AVDX) Outpaced the Stock Market Today

AvidXchange Holdings, Inc. (AVDX) closed at $10.82 in the latest trading session, marking a -0.82% move from the prior day.

AvidXchange Holdings, Inc. (AVDX) Stock Drops Despite Market Gains: Important Facts to Note

AvidXchange Holdings' disclosures at a recent investor conference indicate that the company has good long-term growth potential. AvidXchange's guidance points to a doubling of its EBITDA margin for full-year FY 2024. I stay bullish on AVDX stock, as the company's prospects are favorable.

AvidXchange Holdings: Positive Outlook

CHARLOTTE, N.C., May 23, 2024 (GLOBE NEWSWIRE) -- AvidXchange (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, announced a strategic partnership with MIP Fund Accounting by Community Brands (“MIP”) in combination with a new invoice-to-pay application programming interface (API) integration. This partnership grants MIP – a leading cloud-based, SaaS fund accounting solution purpose-built for nonprofits and government organizations – the ability to market and offer AvidXchange as an AP automation solution to its 6,000 customers across the country.

AvidXchange Announces Strategic Partnership and API Integration with MIP Fund Accounting by Community Brands to Transform Invoice-to-Pay Processes for Social Good Entities

Accounts payable automation software may not have the buzz of AI but estimates remain bullish.

Bull of the Day: AvidXchange (AVDX)

AvidXchange Holdings, Inc. (NASDAQ:AVDX ) Q1 2024 Earnings Conference Call May 8, 2024 10:00 AM ET Company Participants Subhaash Kumar - Head, Investor Relations Michael Praeger - Co-Founder and Chief Executive Officer Joel Wilhite - Chief Financial Officer Conference Call Participants Dave Koning - Baird Darrin Peller - Wolfe Research Sanjay Sakhrani - KBW Craig Maurer - FT Partners Andrew Bauch - Wells Fargo Bryan Keane - Deutsche Bank Ramsey El-Assal - Barclays Tien-tsin Wang - JPMorgan James Faucette - Morgan Stanley Alex Markgraff - KeyBanc Capital Markets Rufus Hone - BMO Operator Good morning, everyone, and thank you for joining us for the AvidXchange Holdings Incorporated First Quarter 2024 Earnings Call. Please note this event is being recorded.

AvidXchange Holdings, Inc. (AVDX) Q1 2024 Earnings Call Transcript

Although the revenue and EPS for AvidXchange (AVDX) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

AvidXchange (AVDX) Reports Q1 Earnings: What Key Metrics Have to Say

Strong across-the-board year-over-year Q1'24 financial performance driven by yield expansion, transaction growth, unit cost reduction and operating expense discipline Q1'24 operating income loss of $(4.1) million more than halved versus a loss of $(17.1) million in the comparable year-ago period Q1'24 adjusted EBITDA up sharply to $17.7 million vs. $0.4 million in the comparable year-ago period Sustaining a strong balance sheet with cash and marketable securities of $443.6 million to re-invest in the core business organically and inorganically Updated 2024 business outlook reflects sustained strong execution amid macro volatility CHARLOTTE, N.C.

News for AvidXchange Holdings Stock (AVDX)