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) is set to release its first quarter 2022 financial results on May 5, 2022, after market close. The company will hold a conference call at 6:00 PM ET to discuss these results, which can be streamed live via their investor relations website. AvidXchange specializes in accounts payable automation software and payment solutions for middle market businesses, serving over 8,000 clients and completing payments to more than 825,000 suppliers in the past five years.
AvidXchange Holdings (Nasdaq GS: AVDX) reported a positive outlook on middle-market spending trends in its latest release. The Q4 2021 data shows ongoing growth, marking the sixth consecutive quarterly increase in spending. Notably, investment in technology is leading the way as businesses pursue efficiency amidst macroeconomic challenges. AvidXchange emphasizes that automated digital solutions enhance resilience and operational efficiency for middle-market companies.
AvidXchange Holdings, Inc. (Nasdaq: AVDX) has announced strategic growth in the Homeowners Association (HOA) sector by appointing Michael Pizzico as Vice President. He will oversee sales performance, strategy, and revenue opportunities within this new business line. CEO Michael Praeger emphasized AvidXchange's commitment to understanding the unique challenges faced by middle-market businesses. With over 8,000 clients and a strong supplier network, AvidXchange seeks to enhance its AP automation solutions in the HOA industry.
AvidXchange, a provider of accounts payable automation software, announced the completion of the first stage of a Wi-Fi infrastructure project in Charlotte, N.C. This initiative, in partnership with the City of Charlotte and Tech Rising, offers free high-speed internet access to residents, enhancing digital equity in local communities. A gigabit fiber connection was established to facilitate this access, with plans for future expansions. AvidXchange will also host the Tech Rising Summit on April 6, 2022, focusing on digital equity and providing grants for technology education.
AvidXchange Holdings (AVDX) issued a correction regarding share ownership data provided to institutional investors. The company clarified that Mastercard Investment Holdings reported no change in its stake, contrary to previous reports indicating a reduction as of December 31, 2021. Additionally, AvidXchange confirmed that affiliate shares held by Steve McLaughlin also remained unchanged as of October 13, 2021. This correction aims to provide accurate shareholder information, crucial for institutional investors and market stability.
AvidXchange Holdings, Inc. (AVDX) reported strong financial results for Q4 2021, with total revenue of $69.3 million, up 31% year-over-year. They achieved full-year revenue of $248.4 million, reflecting a 33.6% increase from 2020. Despite a GAAP net loss of $(72.1) million in Q4 and $(199.6) million for the year, the company noted improvements in gross profit margins. For 2022, AvidXchange projects revenue between $296.5 million and $301.5 million, alongside an adjusted EBITDA loss of $(42.0) million to $(48.0) million, indicating ongoing investments in growth.
CHARLOTTE, N.C., Feb. 25, 2022 (GLOBE NEWSWIRE) -- AvidXchange Holdings, a leader in accounts payable automation, announced upcoming presentations at the Wolfe FinTech Forum and KeyBanc’s 17th Annual Emerging Tech Conference. The management team will present virtually at the Wolfe Conference on March 8, 2022, at 1:40 PM ET, and at the KeyBanc Conference on March 9, 2022, at 2:30 PM ET. Live webcasts will be available on their investor relations website, along with replays for a limited time.
AvidXchange Holdings (Nasdaq: AVDX) reported positive trends in its fifth Middle Market Spending Trends report, highlighting a recovery in the Retail Trade and Professional Services sectors, returning to pre-pandemic spending levels. The Transportation and Warehousing industry experienced the highest quarterly spending growth due to rising gas prices and increased demand for warehouse spaces. However, the Construction sector continued to decline for the third consecutive quarter, affected by labor shortages and supply chain disruptions.
AvidXchange Holdings, a top provider of accounts payable automation software, will release its Q4 and full year 2021 financial results on March 7, 2022, after market close. A conference call to discuss the results is scheduled for 5:00 PM ET that day, with a live webcast available for investors.
Over the past five years, AvidXchange has facilitated payments for over 700,000 suppliers, serving more than 7,000 businesses. Investors can access call replays on the company's Investor Relations website.
AvidXchange Holdings (Nasdaq: AVDX) has announced the integration of Sage 100 Contractor with AvidPay via the TimberScan Titanium platform. This new capability enables professionals in the construction industry to streamline their accounts payable processes, enhancing efficiency by automating purchase order matching and invoice approvals. The integration aims to reduce manual processing and improve vendor payment security, which is essential for contractors managing financial operations amidst ongoing project demands and recovery planning.
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