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Mar 31, 2022
AvidXchange Q1 2022 Earnings Report
AvidXchange's Q1 2022 financial results were driven by transaction volume growth and expense management.
Key Takeaways
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.
Total revenue was $71.2 million, an increase of 29.0% year-over-year.
GAAP net loss was $(25.1) million, compared to a GAAP net loss of $(70.0) million in the first quarter of 2021.
Total transactions processed were 16.9 million, an increase of 15.6% year-over-year.
Total payment volume was $15.2 billion, an increase of 40.5% year-over-year.
Forward Guidance
AvidXchange anticipates its revised Full Year 2022 revenue and adjusted EBITDA to be in the following ranges: Revenue $303.0 - $307.0 million and Adjusted EBITDA $(35.0) - $(39.0) million.
Positive Outlook
- Revenue is expected to be between $303.0 million and $307.0 million.
- Adjusted EBITDA loss is expected to be between $(35.0) million and $(39.0) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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