AvidXchange Earnings Reports

AvidXchange reported a 10.9% increase in total revenue to $115.4 million, GAAP net income of $4.7 million, and non-GAAP net income of $17.3 million. The company's gross profit increased to $78.8 million, and adjusted EBITDA was $26.3 million. Key business metrics included 19.9 million total transactions processed and $21.9 billion in total payment volume.

AvidXchange reported a solid third quarter with a 14.3% increase in revenue, significant expansion in non-GAAP gross margin to 74.5%, and adjusted EBITDA margin at 20.7%. Net cash from operating activities increased significantly due to the replacement of higher interest rate debt with a new credit facility. The company also revised its 2024 revenue and adjusted EBITDA outlook upward.

AvidXchange announced Q2 2024 financial results, marking a milestone in GAAP net income profitability with revenue growth of 15.3% year-over-year. The company sustains a strong balance sheet with $465.0 million in cash and marketable securities. Updated 2024 business outlook reflects strong execution amid macro choppiness.

AvidXchange announced strong Q1 2024 financial results, marking 11 consecutive quarters of surpassing internal expectations. Total revenue increased by 21.6% year-over-year to $105.6 million, and GAAP net loss improved to $(1.0) million from $(16.0) million in the same quarter last year. The company is focused on capitalizing on the trend toward digital transformation of the back office and investing in innovation and new products for future growth.

AvidXchange reported a strong close to 2023, with fourth quarter revenue increasing by 20.8% year-over-year to $104.1 million. The company's GAAP net loss decreased significantly to $(4.5) million, and Non-GAAP net income was $9.4 million. Adjusted EBITDA was $15.6 million, marking a substantial improvement from the previous year.

AvidXchange reported strong Q3 2023 results with a 19.7% year-over-year increase in total revenue to $98.7 million. The company's GAAP net loss decreased significantly to $(8.1) million, and non-GAAP net income was $5.8 million. Adjusted EBITDA swung positively to $11.4 million.

AvidXchange reported strong Q2 2023 financial results, driven by healthy revenue growth and gross margin expansion. Adjusted EBITDA swung positively to $3.0 million, and the company raised its full-year 2023 business outlook.

AvidXchange Holdings, Inc. announced financial results for the first quarter ended March 31, 2023, with total revenue of $86.8 million, an increase of 21.9% year-over-year and GAAP net loss of $(16.0) million. The company delivered its first adjusted EBITDA profitable quarter as a public company.

AvidXchange reported a 24.4% year-over-year increase in total revenue for Q4 2022, reaching $86.2 million. The company narrowed its GAAP net loss to $(25.0) million and its Non-GAAP net loss to $(7.4) million. Gross profit and adjusted EBITDA also improved compared to the same period in the previous year. The company is projecting an accelerated path to adjusted EBITDA profitability in 2023.

AvidXchange reported Q3 2022 financial results with revenue of $82.4 million, a 26.4% increase year-over-year, and a GAAP net loss of $(25.4) million, compared to $(35.5) million in Q3 2021. The company's performance was driven by transaction growth and efficiencies, leading to a revised full-year 2022 revenue guidance of $314.0 - $315.0 million.

AvidXchange reported a 30.3% year-over-year increase in total revenue, reaching $76.6 million. The company's GAAP net loss was $(25.7) million, while the non-GAAP net loss was $(13.7) million. The results were driven by broad-based demand and solid operational execution, leading to an increased full-year outlook for 2022.

AvidXchange reported a strong start to Q1 2022 with solid transaction growth, revenue increase, and lower expenses. Total revenue increased by 29.0% year-over-year to $71.2 million, and GAAP net loss improved to $(25.1) million compared to $(70.0) million in the first quarter of 2021.

AvidXchange announced strong Q3 2021 results, with a 37% year-over-year increase in total revenue and a 40% increase in total payment volume. The company's GAAP net loss was $(35.5) million, while non-GAAP net loss was $(15.3) million.