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Dec 31, 2022
AvidXchange Q4 2022 Earnings Report
Avidxchange's Q4 2022 financial results were announced, showing revenue growth and reduced net losses.
Key Takeaways
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.
Total revenue increased by 24.4% year-over-year to $86.2 million.
GAAP net loss improved to $(25.0) million compared to $(72.1) million in Q4 2021.
Non-GAAP net loss improved to $(7.4) million compared to $(17.7) million in Q4 2021.
GAAP gross profit was $49.9 million, representing 57.9% of total revenue.
Forward Guidance
AvidXchange anticipates its Full Year 2023 revenue and adjusted EBITDA to be in the following ranges: Revenue $359.0 - $366.0 million and Adjusted EBITDA $0 - $3.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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