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

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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.

AvidXchange has released an invoice-to-pay application programming interface (API) integration with Intuit QuickBooks Online.  With this new solution, QuickBooks Online users can add an accounts payable (AP) and payment solution that is fully automated, end-to-end and cloud-based, AvidXchange said in a Tuesday (Dec. 6) press release.

AvidXchange Debuts Invoice-to-Pay API for QuickBooks Online

CHARLOTTE, N.C., Dec. 06, 2022 (GLOBE NEWSWIRE) -- AvidXchange (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced an invoice-to-pay application programming interface (API) integration with Intuit QuickBooks Online (“QuickBooks Online”). This new offering provides customers who rely on QuickBooks Online, a fully automated, end-to-end, cloud-based AP and payment solution.

Intuit QuickBooks Online Customers Increase Efficiency with Fully Automated AP and Payment Solution by AvidXchange

The average of price targets set by Wall Street analysts indicates a potential upside of 28.8% in AvidXchange Holdings, Inc. (AVDX). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Think AvidXchange Holdings, Inc. (AVDX) Could Surge 29%: Read This Before Placing a Bet

The industry is large and growing. AVDX has a purpose-built solution that digitizes the entire AP process.

AvidXchange Holdings: Purpose-Built Solution To Target The Mid-Market

Payments solutions company AvidXchange has unveiled a cross-border payment experience. The North Carolina company said the new offering will be available first to Oracle NetSuite customers and accessible in its newly launched SuiteApp, according to a news release Tuesday (Nov. 29).

AvidXchange Debuts Cross-Border Payments Offering

SAVE THE DATE: AvidXchange Investor Day

The consensus price target hints at a 66.1% upside potential for AvidXchange Holdings, Inc. (AVDX). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

How Much Upside is Left in AvidXchange Holdings, Inc. (AVDX)? Wall Street Analysts Think 66%

AvidXchange Holdings, Inc. (NASDAQ:AVDX ) Q3 2022 Earnings Conference Call November 2, 2022 10:00 AM ET Company Participants Mike Praeger - Co-Founder and Chief Executive Officer Joel Wilhite - Chief Financial Officer Conference Call Participants Dave Koning - Baird William Nance - Goldman Sachs Darrin Peller - Wolfe Research Josh Beck - KeyBanc Brad Sills - Bank of America Andrew Bauch - SMBC Nikko Securities Ramsey El-Assal - Barclays James Faucette - Morgan Stanley Brent Bracelin - Piper Sandler Timothy Chiodo - Credit Suisse Tien-Tsin Huang - JPMorgan Operator Good evening, everyone, and thank you for joining us for the AvidXchange Holdings, Inc. Third Quarter 2022 Earnings Call. Joining us on the call today is Mike Praeger, AvidXchange Co-Founder and Chief Executive Officer; Joel Wilhite, AvidXchange Chief Financial Officer; and Subhaash Kumar, AvidXchange Head of Investor Relations.

AvidXchange Holdings, Inc. (AVDX) Q3 2022 Earnings Call Transcript

AvidXchange Holdings, Inc. (AVDX) delivered earnings and revenue surprises of 45.45% and 4.92%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

AvidXchange Holdings, Inc. (AVDX) Reports Q3 Loss, Tops Revenue Estimates

--Third quarter 2022 revenue and adjusted EBITDA results ahead of internal forecast driven by transaction growth, efficiencies and operating expense control

AvidXchange Announces Third Quarter 2022 Financial Results

AvidXchange Holdings, Inc. went public in October 2021, raising approximately $660 million in gross IPO proceeds. The company provides B2B accounts payable software to organizations worldwide.

AvidXchange Grows Revenue But Operating Losses Mount

CHARLOTTE, N.C., Oct. 14, 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 third quarter 2022 ended September 30, 2022 financial results will be released on Wednesday, November 2, 2022. AvidXchange will host a conference call at 10:00 AM ET on November 2, 2022, to discuss the company's financial results.

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

Ongoing investments in tech, talent and efficiencies remain strong Ongoing investments in tech, talent and efficiencies remain strong

Middle Market Companies Exhibit Resilience While Delivering Value

The consensus price target hints at a 53.8% upside potential for AvidXchange Holdings, Inc. (AVDX). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Believe AvidXchange Holdings, Inc. (AVDX) Could Rally 54%: Here's is How to Trade

Payments and accounts payable (AP) automation platform AvidXchange announced Monday (Aug. 15) that it has launched an integration with cloud-based accounting system Blackbaud Financial Edge NXT. AvidXchange's customer based consists largely of “middle-market businesses and their suppliers,” according to the press release, while Blackbaud Financial Edge NXT is focused on the nonprofit sector.

AvidXchange Launches API Integration With Blackbaud Financial Edge NXT

CHARLOTTE, N.C., Aug. 15, 2022 (GLOBE NEWSWIRE) -- AvidXchange (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced an application programming interface (API) integration with Blackbaud Financial Edge NXT®, a cloud fund accounting solution designed specifically to meet the unique compliance needs of social good entities such as health care, education and nonprofit organizations.

AvidXchange Launches Invoice-to-Pay Integration Built for Multi-Industry Provider, Blackbaud Financial Edge NXT®

With companies working to reduce the time they spend on paperwork so that they can focus on their core mission, solution providers are equipping them with automated platforms that free them from accounts payable (AP) chores.

AvidXchange Launches New AP Solution for Construction Industry

TimberScan Titanium now available to Sage Intacct Users TimberScan Titanium now available to Sage Intacct Users

AvidXchange Offers a Complete Purchase to Pay Solution Purpose-Built for the Construction Industry

AvidXchange Holdings, Inc. (NASDAQ:AVDX ) Q2 2022 Earnings Conference Call August 3, 2022 6:00 PM ET Company Participants Mike Praeger - Co-Founder, President & Chief Executive Officer Joel Wilhite - Senior Vice President & Chief Financial Officer Conference Call Participants Dave Koning - Baird Ramsey El-Assal - Barclays Andrew Bauch - SMBC Nikko Securities Will Nance - Goldman Sachs Bryan Keane - Deutsche Bank Brad Sills - Bank of America Brent Bracelin - Piper Sandler Sandy Beatty - Morgan Stanley Darrin Peller - Wolfe Research Tim Chiodo - Credit Suisse Josh Beck - KeyBanc Capital Markets Operator Good evening, everyone, and thank you for joining us for the AvidXchange Holdings, Inc. Second Quarter 2022 Earnings Call. Joining us on the call today is Mike Praeger, AvidXchange Co-Founder and Chief Executive Officer; Joel Wilhite, AvidXchange Chief Financial Officer; and Subhaash Kumar, AvidXchange Head of Investor Relations.

AvidXchange Holdings, Inc. (AVDX) CEO Mike Praeger on Q2 2022 Results - Earnings Call Transcript

CHARLOTTE, N.C., Aug. 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 that members of the management team will present at the following investor conferences:

AvidXchange to Present at Upcoming Investor Conferences

--Second quarter 2022 revenue growth of 30.3% – or 22.4% organically – driven by continued broad based demand coupled with solid operational execution

AvidXchange Announces Second Quarter 2022 Financial Results

CHARLOTTE, N.C., July 19, 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 a referral partnership with Member Driven Technologies  (MDT), a credit union service organization. MDT hosts the Episys® core platform from Symitar® to provide a private cloud alternative for core processing and IT needs.

AvidXchange Partners with MDT, Expands Invoice-to-Pay Solution to More Credit Unions

CHARLOTTE, N.C., July 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 second quarter 2022 ended June 30, 2022 financial results will be released on Wednesday, August 3, 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 Second Quarter 2022 Financial Results Conference Call and Webcast

Technology Investment is the Key to Solving Larger Business Challenges Technology Investment is the Key to Solving Larger Business Challenges

The Rate of Spending on Technology has more than Tripled in the Past Two Years, AvidXchange Research Shows

New end-to-end solution offers automated purchasing, invoice and payment capabilities New end-to-end solution offers automated purchasing, invoice and payment capabilities

News for AvidXchange Holdings Stock (AVDX)