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.

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Earnings data Q3 2023

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Earnings data Q2 2024

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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.

Company expands its invoicing and payment services to customers in Acumatica's most popular industries Company expands its invoicing and payment services to customers in Acumatica's most popular industries

AvidXchange Launches End-to-End Purchase-to-Pay Integration for Acumatica

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CHARLOTTE, N.C., June 15, 2022 (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 it is Certified™ by Great Place to Work®. Great Place to Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.

The Results are in: 84 Percent of Teammates said “Avidxchange is a Great Place to Work,” Earning the Company a Top Certification by Great Place to Work®

The mean of analysts' price targets for AvidXchange Holdings, Inc. (AVDX) points to a 68.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Believe AvidXchange Holdings, Inc. (AVDX) Could Rally 68%: Here's is How to Trade

STP to further enhance scalability and reliability with a better user experience for supplier customers when receiving payment from buyer customers STP to further enhance scalability and reliability with a better user experience for supplier customers when receiving payment from buyer customers

AvidXchange Offers Straight Through Processing Capability to Fully Automate Delivery and Receipt of Payments

AvidXchange Holdings, Inc. (NASDAQ:AVDX ) Q1 2022 Earnings Conference Call May 5, 2022 6:00 PM ET Company Participants Mike Praeger - Co-Founder President & CEO Joel Wilhite - SVP & CFO Conference Call Participants Dave Koning - Baird Ramsey El-Assal - Barclays Darrin Peller - Wolfe Research James Faucette - Morgan Stanley Will Nance - Goldman Sachs Andrew Bauch - SMBC Nikko Securities Josh Beck - KeyBanc Capital Markets Bryan Keane - Deutsche Bank Tien-Tsin Huang - JPMorgan Chris Zhang - Credit Suisse Brent Bracelin - Piper Sandler Mike Funk - Bank of America Merrill Lynch Operator Good evening, everyone. And thank you for joining us for the AvidXchange Holdings, Inc. First quarter 2022 Earnings Call.

AvidXchange Holdings, Inc. (AVDX) CEO Mike Praeger on Q1 2022 Results - Earnings Call Transcript

AvidXchange Holdings, Inc (NASDAQ: AVDX) reported first-quarter FY22 revenue growth of 29% year-on-year to $71.2 million, beating the consensus of $67.97 million. The non-GAAP gross margin expanded 300 bps to 62.3%.

Here's Why AvidXchange Shares Are Trading Higher On A Down Market Day

CHARLOTTE, N.C., April 18, 2022 (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 first quarter 2022 ended March 31, 2022 financial results will be released on Thursday, May 5, 2022, after market close. AvidXchange will host a conference call at 6:00 PM ET to discuss the company's financial results.

AvidXchange Announces Timing of Its First Quarter 2022 Financial Results Conference Call and Webcast

Spending on Technology prevails over other highlighted industries Spending on Technology prevails over other highlighted industries

Middle Market Closes 2021 with Another Spending Jump, AvidXchange Report Shows

CHARLOTTE, N.C., April 04, 2022 (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 its increased focus in the Homeowners Association (HOA) industry with the hiring of Michael Pizzico as Vice President of the business line. In this role, Michael will be responsible for sales performance as well as leading all strategies, growth and revenue opportunities, and supporting actions including partnerships.

AvidXchange Further Invests in the HOA Industry

CHARLOTTE, N.C., March 29, 2022 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (“AvidXchange”) (Nasdaq GS: AVDX), a leading provider of accounts payable automation software and payment solutions for middle market businesses and their suppliers, today announced the completion of the first stage of a Wi-Fi infrastructure project that helps facilitate free Wi-Fi access to residents in the West End of Charlotte, N.C. This stage was completed in partnership with the City of Charlotte and Tech Rising, an initiative spearheaded by the AvidXchange Foundation that aims to remove barriers to technology education and resources for youth and young adults.

AvidXchange Further Bridges Digital Divide in Charlotte, Announces Completion of the first stage of its Wi-Fi Infrastructure Project and Second Annual Tech Rising Summit

CHARLOTTE, N.C., March 17, 2022 (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, is correcting share ownership data that was furnished by various financial data and media services providers to institutional investors and brokerage houses. According to data provided by those service providers, Mastercard Investment Holdings, Inc. had materially reduced the number of shares of common stock of AvidXchange Holdings, Inc. that it held as of the December 31, 2021 filing date. The Schedule 13G filed by Mastercard on February 8, 2022 with the Securities and Exchange Commission reflected no change to its ownership stake. Similarly, share ownership data that was furnished by various financial data and media services providers also reflected a material reduction in the number of shares of common stock of AvidXchange Holdings, Inc. held by shareholders affiliates with Mr. Steve McLaughlin as of October 13, 2021 filing date. This information was also incorrect, and the company has been informed by Mr. McLaughlin that the shares held by these affiliated entities remained unchanged as of October 13, 2021.

AvidXchange Correcting Shareholder Ownership Data Incorrectly Provided by Various Financial Data and Media Services Providers to Wall Street at Large

AvidXchange Holdings, Inc. (AVDX) CEO Michael Praeger on Q4 2021 Results - Earnings Call Transcript

--Fourth quarter 2021 revenue and Adjusted EBITDA above previous guidance

AvidXchange Announces Fourth Quarter & Full Year 2021 Financial Results

Surging gas prices and supply chain issues ignite spending on Transportation and Warehousing Surging gas prices and supply chain issues ignite spending on Transportation and Warehousing

Key Industries across the Middle Market Return to Pre-Pandemic Spending Levels, AvidXchange Report Shows

CHARLOTTE, N.C., Feb. 09, 2022 (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 fourth quarter and full year 2021 ended December 31, 2021 financial results will be released on Monday, March 7, 2022, after market close. AvidXchange will host a conference call at 5:00 PM ET to discuss the company's financial results.

AvidXchange Announces Timing of Its Fourth Quarter and Full Year 2021 Financial Results Conference Call and Webcast

More construction industry professionals are now able to streamline the AP process using AvidPay within TimberScan Titanium More construction industry professionals are now able to streamline the AP process using AvidPay within TimberScan Titanium

AvidXchange Deepens Expertise in the Construction Vertical, Announces Integration with Sage 100 Contractor

CHARLOTTE, N.C., Jan. 20, 2022 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (“AvidXchange”) (Nasdaq: AVDX), a leading provider of accounts payable and payment automation solutions for the middle market, today announced FastPay Political+, a major enhancement of the company's industry leading platform FastPay Political, designed to help political agencies and media suppliers nationwide automate the media buying and selling process.

AvidXchange Announces New FastPay Political+ Platform Automating the Buying and Selling Process for Political Media Agencies

CHARLOTTE, N.C., Nov. 30, 2021 (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 it will present at two upcoming conferences: the UBS Global TMT Conference and the Barclays Global Technology, Media and Telecommunications Conference.

AvidXchange to Present at the UBS Global TMT Conference and the Barclays Global Technology, Media and Telecommunications Conference

CHARLOTTE, N.C., Nov. 30, 2021 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (“AvidXchange”) (Nasdaq: AVDX), a leading provider of accounts payable and payment automation solutions for the middle market, today released the fourth report in its Middle Market Spending Trends series based on data captured from the ~58 million transactions processed over the last 12 months (as of Q2 2021) by AvidXchange through the AvidPay Network.

Middle Market Experiences Largest Increase in Spending Quarter over Quarter since 2017, AvidXchange Report Shows

CHARLOTTE, N.C., Nov. 16, 2021 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (“AvidXchange”) (Nasdaq: AVDX), a leading provider of accounts payable and payment automation solutions for the middle market, today announced an upcoming partial early lock-up release for current employees and consultants with respect to shares of AvidXchange's common stock (the “shares”) pursuant to the terms of certain lock-up agreements (“lock-up agreements”) entered into by AvidXchange's securityholders with the underwriters of AvidXchange's initial public offering.

AvidXchange Announces Early IPO Lock-up Release

Revenue Increased 37% Year-over-year, Driven by 40% Total Payment Volume Growth for the Quarter Revenue Increased 37% Year-over-year, Driven by 40% Total Payment Volume Growth for the Quarter

AvidXchange Announces Third Quarter 2021 Financial Results

CHARLOTTE, N.C., Nov. 01, 2021 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (“AvidXchange”) (Nasdaq: AVDX), a leading provider of accounts payable and payment automation solutions for the middle market, today announced that AvidSuite for Financial Services is available to credit unions to help more financial services organizations transform the way they pay bills. AvidSuite for Financial Services is purpose built for the industry, designed expressly to meet the needs of credit unions by making AP and payments processes more efficient and secure.

Credit Unions automate accounts payable and payments with AvidXchange for Financial Services

AvidXchange aims to transform payables in the SME market. The company has seen solid growth and has a huge growth runway still ahead.

AvidXchange Holdings - Not Too Compelled

Today, investors have the AVDX stock IPO top of mind. AvidXchange is trading publicly for the first time today amid investor enthusiasm.

News for AvidXchange Holdings Stock (AVDX)