Welcome to our dedicated page for AvidXchange Holdings news (Ticker: AVDX), a resource for investors and traders seeking the latest updates and insights on AvidXchange Holdings stock.
AvidXchange Holdings, Inc. (symbol: AVDX) is a prominent provider of accounts payable (AP) automation software and payment solutions designed for middle-market businesses and their suppliers. Over its extensive 20+ year history, AvidXchange has transformed the way companies handle bill payments by automating the entire process, from invoice capture to payment execution. The company's innovative Software-as-a-Service (SaaS) platform digitizes and streamlines AP workflows, reducing costs, improving productivity, and eliminating paper from financial operations.
As a trailblazer in AP automation, AvidXchange serves over 8,000 businesses and has processed payments for more than 1.2 million supplier customers. The company's solutions integrate with over 100 accounting systems, providing seamless interactions between businesses and their vendors. AvidXchange's cutting-edge analytics and intelligent routing systems ensure that invoices are processed swiftly, accurately, and with minimal human intervention.
Recent Achievements and Partnerships:
- In November 2023, AvidXchange announced its strong third-quarter financial results, showcasing significant revenue growth and gross margin improvement. The company continues to maintain a robust balance sheet.
- A strategic partnership with AppFolio, a leading real estate solutions provider, was established, marking AvidXchange as the first AP partner in the AppFolio Stack™ Marketplace. This integration allows for seamless invoice and payment processing within the AppFolio platform, enhancing the AP experience for real estate professionals.
- In early 2024, AvidXchange continued its streak of outstanding financial performance by exceeding internal expectations for the 11th consecutive quarter. These achievements underscore the company's resilience and robust operational execution amid challenging macroeconomic conditions.
Financial Condition:
AvidXchange generates substantial revenue predominantly from payment services, followed by software and services revenue. The company operates within the United States, catering to a diverse range of industries seeking to digitize their financial processes. The company's recent financial outlook for 2024 anticipates continued revenue growth and profitability, driven by ongoing investments in innovation and strategic partnerships.
AvidXchange remains a trusted partner in the digital transformation of AP processes, continually enhancing its product offerings and expanding its market presence. For more information and the latest updates, visit www.avidxchange.com.
AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of AP automation software and payment solutions for middle market businesses, has announced its participation in three upcoming investor conferences:
1. KeyBanc Technology Leadership Forum on August 5, 2024, with a presentation at 9:00 AM MT.
2. SIG Get Carded: A Payments & Internet Finance Conference on August 13, 2024.
3. Seaport Financials and Fintech Conference on August 15, 2024.
A live webcast of the KeyBanc presentation will be available on the AvidXchange investor relations website, with a replay accessible for a time. These conferences provide opportunities for AvidXchange to showcase its technology and engage with investors in the fintech sector.
AvidXchange Holdings, Inc. (Nasdaq: AVDX) reported its Q2 2024 financial results, marking a milestone with GAAP net income profitability. Key highlights include:
- Total revenue of $105.1 million, up 15.3% year-over-year
- GAAP net income of $0.4 million, compared to a loss of $18.8 million in Q2 2023
- Non-GAAP net income of $10.7 million
- Adjusted EBITDA of $17.5 million, up from $3.0 million in Q2 2023
The company processed 19.7 million transactions and $20.6 billion in payment volume. AvidXchange updated its 2024 outlook, projecting revenue between $436.0 - $439.0 million and adjusted EBITDA of $73.0 - $75.0 million.
AvidXchange, a leading provider of accounts payable automation software and payment solutions for middle market businesses, will release its second quarter 2024 financial results on July 31, 2024. The financial results will cover the quarter ended June 30, 2024. A conference call to discuss these results will take place at 10:00 AM ET on the same day. The call will be broadcast live via a webcast available on the AvidXchange Investor Relations website. A recorded replay of the call will also be accessible post-event on the same platform.
AvidXchange Holdings (NASDAQ: AVDX), a leader in AP automation software and payment solutions, announced participation in upcoming investor conferences. The events include:
1. Baird 2024 Global Consumer, Technology & Services Conference on June 6, 2024, at 12:15 PM ET.
2. Morgan Stanley US Financials, Payments & CRE Conference on June 10, 2024, at 10:15 AM ET, with a live webcast available on the AvidXchange investor relations website.
3. BMO Virtual Software Conference on June 11, 2024, at 10:00 AM ET, with replays available for a time.
AvidXchange (Nasdaq: AVDX) has announced a strategic partnership with MIP Fund Accounting by Community Brands. This partnership includes a new invoice-to-pay API integration aimed at streamlining financial processes for nonprofits and government organizations. MIP, a cloud-based SaaS fund accounting solution, will now offer AvidXchange's AP automation tool to its 6,000 customers. The integration will sync GL codes, vendor lists, invoices, and payments, reducing manual tasks and increasing efficiency. It also provides enhanced security and real-time data insights. This collaboration aims to give organizations more time to focus on their missions.
AvidXchange Holdings (Nasdaq: AVDX), a leader in accounts payable automation and payment solutions for middle-market businesses, announced its participation in two upcoming investor conferences. The company will present at the Barclays 14th Annual Emerging Payments and FinTech Forum on May 16, 2024, at 1:50 PM ET, and at the J.P. Morgan 52nd Annual Global Technology, Media & Communications Conference on May 20, 2024, also at 1:50 PM ET. Both presentations will be webcast live and made available on AvidXchange's investor relations website for a time.
AvidXchange Holdings, Inc. (AVDX) reported strong Q1'24 financial results with revenue up 21.6% YoY to $105.6 million and adjusted EBITDA at $17.7 million. The company reduced operating losses, sustained a solid balance sheet with $443.6 million in cash and securities, and provided a positive outlook for 2024. AVDX remains confident in its growth prospects amidst macroeconomic uncertainty.
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