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Sep 30, 2021
AvidXchange Q3 2021 Earnings Report
AvidXchange's Q3 2021 financial results were announced, demonstrating strong year-over-year growth.
Key Takeaways
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.
Total revenue increased by 37% year-over-year, reaching $65.2 million.
Total payment volume grew by 40% year-over-year.
GAAP gross profit was $34.3 million, representing 53% of total revenue.
The acquisition of FastPay was completed, expanding AvidXchange's portfolio in the media industry.
Forward Guidance
AvidXchange anticipates full year 2021 revenue to be in the range of $244.5M - $245.5M and adjusted EBITDA to be in the range of $(30.1)M - $(28.1)M.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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