Avidxchange Holdings, Inc. Financials

AVDX

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

This page shows Avidxchange Holdings, Inc. (AVDX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 42/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Avidxchange Holdings, Inc. has an operating margin of -0.6%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -14.1% the prior year.

Growth

Avidxchange Holdings, Inc.'s revenue surged 15.3% year-over-year to $438.9M, reflecting rapid business expansion. This strong growth earns a score of 72/100.

Leverage

100

Avidxchange Holdings, Inc. carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Avidxchange Holdings, Inc.'s current ratio of 1.29 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Avidxchange Holdings, Inc. generates a 1.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 5/100.

Piotroski F-Score Strong

8/9

Avidxchange Holdings, Inc. passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

8.83x

For every $1 of reported earnings, Avidxchange Holdings, Inc. generates $8.83 in operating cash flow ($71.9M OCF vs $8.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

-0.2x

Avidxchange Holdings, Inc. earns $-0.2 in operating income for every $1 of interest expense (-$2.6M vs $11.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$438.9M

YoY+15.3%

5Y CAGR+24.0%

Avidxchange Holdings, Inc. generated $438.9M in revenue in fiscal year 2024. This represents an increase of 15.3% from the prior year.

EBITDA

$33.7M

YoY+291.6%

Avidxchange Holdings, Inc.'s EBITDA was $33.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 291.6% from the prior year.

Free Cash Flow

N/A

Net Income

$8.1M

YoY+117.2%

Avidxchange Holdings, Inc. reported $8.1M in net income in fiscal year 2024. This represents an increase of 117.2% from the prior year.

EPS (Diluted)

$0.04

YoY+117.4%

Avidxchange Holdings, Inc. earned $0.04 per diluted share (EPS) in fiscal year 2024. This represents an increase of 117.4% from the prior year.

Cash & Debt

$355.6M

YoY-12.6%

Avidxchange Holdings, Inc. held $355.6M in cash against $4.3M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

204M

YoY+0.1%

Avidxchange Holdings, Inc. had 204M shares outstanding in fiscal year 2024. This represents an increase of 0.1% from the prior year.

Gross Margin

72.3%

YoY+4.1pp

5Y CAGR+19.8pp

Avidxchange Holdings, Inc.'s gross margin was 72.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.1 percentage points from the prior year.

Operating Margin

-0.6%

YoY+13.5pp

5Y CAGR+50.9pp

Avidxchange Holdings, Inc.'s operating margin was -0.6% in fiscal year 2024, reflecting core business profitability. This is up 13.5 percentage points from the prior year.

Net Margin

1.9%

YoY+14.3pp

5Y CAGR+64.4pp

Avidxchange Holdings, Inc.'s net profit margin was 1.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 14.3 percentage points from the prior year.

Return on Equity

1.2%

Avidxchange Holdings, Inc.'s ROE was 1.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

$101.1M

YoY+3.6%

5Y CAGR+24.7%

Avidxchange Holdings, Inc. invested $101.1M in research and development in fiscal year 2024. This represents an increase of 3.6% from the prior year.

Share Buybacks

$50.1M

Avidxchange Holdings, Inc. spent $50.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

AVDX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$438.9M+15.3%	$380.7M+20.3%	$316.4M+27.4%	$248.4M+33.6%	$185.9M+24.3%	$149.6M
Cost of Revenue	$121.8M+0.4%	$121.3M+2.9%	$117.9M+17.8%	$100.1M+19.5%	$83.8M+17.7%	$71.1M
Gross Profit	$317.2M+22.3%	$259.4M+30.7%	$198.5M+33.8%	$148.3M+45.2%	$102.2M+30.2%	$78.5M
R&D Expenses	$101.1M+3.6%	$97.6M+16.3%	$83.9M+28.8%	$65.1M+46.4%	$44.5M+32.5%	$33.6M
SG&A Expenses	$99.5M-2.4%	$101.9M+11.5%	$91.4M-4.6%	$95.8M+69.9%	$56.4M+8.2%	$52.1M
Operating Income	-$2.6M+95.2%	-$53.5M+38.8%	-$87.4M+19.6%	-$108.7M-44.8%	-$75.1M+2.6%	-$77.1M
Interest Expense	$11.3M-16.2%	$13.5M-34.8%	$20.7M+3.2%	$20.1M+0.1%	$20.1M+16.3%	$17.3M
Income Tax	$921K-22.9%	$1.2M+272.3%	$321K+106.9%	-$4.7M-2091.5%	$234K+290.0%	$60K
Net Income	$8.1M+117.2%	-$47.3M+53.3%	-$101.3M+49.3%	-$199.6M-97.2%	-$101.2M-8.2%	-$93.5M
EPS (Diluted)	$0.04+117.4%	$-0.23+54.9%	$-0.51+80.7%	$-2.64	$-3.34	N/A

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	$110.6M+2.4%	$107.9M-6.5%	$115.4M+2.4%	$112.8M+6.8%	$105.6M+1.5%	$104.1M+5.5%	$98.7M+8.3%	$91.2M
Cost of Revenue	$30.9M+0.5%	$30.8M+0.6%	$30.6M+0.5%	$30.4M+0.3%	$30.3M-1.7%	$30.8M+0.3%	$30.8M+1.8%	$30.2M
Gross Profit	$79.6M+3.2%	$77.2M-9.1%	$84.8M+3.0%	$82.3M+9.4%	$75.3M+2.8%	$73.2M+7.8%	$67.9M+11.5%	$60.9M
R&D Expenses	$27.0M+6.3%	$25.4M+1.2%	$25.1M-0.2%	$25.1M-3.0%	$25.9M+3.9%	$24.9M+0.7%	$24.8M+0.1%	$24.7M
SG&A Expenses	$33.5M+15.8%	$28.9M+7.8%	$26.9M+4.2%	$25.8M+6.2%	$24.3M-8.7%	$26.6M+6.3%	$25.0M-9.8%	$27.7M
Operating Income	-$12.4M-48.5%	-$8.4M-297.8%	-$2.1M	N/A	-$4.1M+34.5%	-$6.3M+34.8%	-$9.6M+53.0%	-$20.5M
Interest Expense	$2.0M+0.2%	$2.0M-2.5%	$2.1M-21.3%	$2.6M-21.7%	$3.3M-2.2%	$3.4M-0.4%	$3.4M+1.9%	$3.4M
Income Tax	-$477K-143.8%	$1.1M+342.7%	$246K-42.9%	$431K+244.8%	$125K-85.4%	$856K+538.8%	$134K-0.7%	$135K
Net Income	-$9.5M-29.4%	-$7.3M-256.5%	$4.7M+15.4%	$4.0M+501.1%	-$1.0M+77.4%	-$4.5M+44.7%	-$8.1M+56.9%	-$18.8M
EPS (Diluted)	$-0.05-25.0%	$-0.04-300.0%	$0.020.0%	$0.02	$0.00+100.0%	$-0.02+50.0%	$-0.04+55.6%	$-0.09

AVDX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.1B-15.9%	$2.5B+12.3%	$2.2B-2.4%	$2.3B+211.9%	$726.5M	N/A
Current Assets	$1.7B-18.0%	$2.1B+16.1%	$1.8B-2.7%	$1.9B+329.8%	$432.3M	N/A
Cash & Equivalents	$355.6M-12.6%	$407.0M+16.1%	$350.6M-37.7%	$562.8M+122.9%	$252.5M	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$51.7M+10.7%	$46.7M+17.7%	$39.7M+28.1%	$31.0M+25.1%	$24.8M	N/A
Goodwill	$165.9M0.0%	$165.9M0.0%	$165.9M0.0%	$165.9M+57.0%	$105.7M+18.1%	$89.5M
Total Liabilities	$1.4B-22.4%	$1.8B+17.5%	$1.6B+0.7%	$1.5B+24.7%	$1.2B	N/A
Current Liabilities	$1.3B-20.3%	$1.7B+20.3%	$1.4B+4.4%	$1.3B+525.3%	$213.1M	N/A
Long-Term Debt	$4.3M-93.8%	$69.8M-8.1%	$75.9M-36.7%	$119.9M+21.8%	$98.4M	N/A
Total Equity	$671.8M+2.3%	$656.4M-0.2%	$657.4M-9.1%	$723.1M+241.5%	-$511.1M-24.1%	-$411.8M
Retained Earnings	-$1.0B+0.8%	-$1.0B-4.9%	-$974.8M-11.8%	-$871.9M-29.7%	-$672.3M	N/A

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Total Assets	$2.0B+0.6%	$2.0B-4.7%	$2.1B+4.2%	$2.0B-5.4%	$2.1B-14.7%	$2.5B+17.1%	$2.1B+1.6%	$2.1B
Current Assets	$1.6B+0.9%	$1.6B-5.5%	$1.7B+5.5%	$1.6B-6.1%	$1.7B-17.2%	$2.1B+21.2%	$1.7B+2.3%	$1.7B
Cash & Equivalents	$335.8M+9.3%	$307.3M-13.6%	$355.6M+12.8%	$315.3M-8.2%	$343.7M-15.6%	$407.0M+19.7%	$339.9M+0.8%	$337.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$51.0M-4.6%	$53.4M+3.4%	$51.7M-7.9%	$56.1M+14.8%	$48.9M+4.7%	$46.7M+14.2%	$40.9M-4.9%	$43.0M
Goodwill	$165.9M0.0%	$165.9M0.0%	$165.9M0.0%	$165.9M0.0%	$165.9M0.0%	$165.9M0.0%	$165.9M0.0%	$165.9M
Total Liabilities	$1.3B+0.3%	$1.3B-7.4%	$1.4B+6.7%	$1.3B-8.3%	$1.4B-20.7%	$1.8B+24.1%	$1.5B+2.0%	$1.4B
Current Liabilities	$1.2B+0.3%	$1.2B-7.9%	$1.3B+7.7%	$1.2B-4.5%	$1.3B-22.5%	$1.7B+27.4%	$1.3B+2.5%	$1.3B
Long-Term Debt	$4.3M0.0%	$4.3M0.0%	$4.3M-52.7%	$9.1M-86.9%	$69.4M-0.5%	$69.8M-6.9%	$74.9M-0.4%	$75.2M
Total Equity	$687.5M+1.2%	$679.2M+1.1%	$671.8M-0.7%	$676.8M+1.1%	$669.6M+2.0%	$656.4M+1.2%	$648.4M+0.6%	$644.5M
Retained Earnings	-$1.0B-0.9%	-$1.0B-0.7%	-$1.0B+0.5%	-$1.0B+0.4%	-$1.0B-0.1%	-$1.0B-0.4%	-$1.0B-0.8%	-$1.0B

AVDX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$71.9M+751.2%	$8.5M+129.4%	-$28.7M+58.2%	-$68.7M-55.6%	-$44.1M+28.6%	-$61.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$11.3M-121.8%	$51.9M+137.0%	-$140.3M-66.9%	-$84.1M-130.1%	-$36.6M+68.7%	-$116.9M
Financing Cash Flow	-$440.3M-251.4%	$290.8M+16941.1%	-$1.7M-100.1%	$1.6B+709.0%	$193.8M-37.1%	$308.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$50.1M	N/A	N/A	N/A	$148.8M	N/A

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Operating Cash Flow	$23.2M+213.8%	$7.4M-74.0%	$28.5M+15.9%	$24.6M+486.6%	-$6.4M-132.7%	$19.4M+243.8%	$5.7M-37.0%	$9.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$2.5M+104.5%	-$55.5M-237.6%	$40.3M+772.7%	$4.6M+107.8%	-$59.5M-215.1%	$51.7M+1677.8%	-$3.3M+91.9%	-$40.7M
Financing Cash Flow	$1.4M+101.4%	-$101.0M-249.5%	$67.6M+152.7%	-$128.2M+63.9%	-$355.6M-202.1%	$348.3M+848.3%	$36.7M-73.6%	$139.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$25.0M	N/A	N/A	N/A	N/A	N/A

AVDX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	72.3%+4.1pp	68.1%+5.4pp	62.7%+3.0pp	59.7%+4.8pp	54.9%+2.5pp	52.4%
Operating Margin	-0.6%+13.5pp	-14.1%+13.6pp	-27.6%+16.1pp	-43.8%-3.4pp	-40.4%+11.1pp	-51.5%
Net Margin	1.9%+14.3pp	-12.4%+19.6pp	-32.0%+48.4pp	-80.4%-25.9pp	-54.4%+8.1pp	-62.5%
Return on Equity	1.2%	N/A	N/A	N/A	N/A	N/A
Return on Assets	0.4%+2.3pp	-1.9%+2.7pp	-4.6%+4.2pp	-8.8%+5.1pp	-13.9%	N/A
Current Ratio	1.29+0.0	1.25-0.0	1.30-0.1	1.39-0.6	2.03	N/A
Debt-to-Equity	0.01-0.1	0.110.0	0.12-0.1	0.17+0.4	-0.19	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Gross Margin	72.0%+0.5pp	71.5%-2.0pp	73.5%+0.5pp	73.0%+1.7pp	71.3%+0.9pp	70.4%+1.5pp	68.8%+2.0pp	66.8%
Operating Margin	-11.2%-3.5pp	-7.7%-5.7pp	-2.0%	N/A	-3.9%+2.1pp	-6.0%+3.7pp	-9.8%+12.7pp	-22.5%
Net Margin	-8.6%-1.8pp	-6.8%-10.8pp	4.0%+0.5pp	3.6%+4.5pp	-1.0%+3.3pp	-4.3%+3.9pp	-8.2%+12.4pp	-20.6%
Return on Equity	N/A	N/A	0.7%+0.1pp	0.6%	N/A	N/A	N/A	N/A
Return on Assets	-0.5%-0.1pp	-0.4%-0.6pp	0.2%+0.0pp	0.2%+0.3pp	-0.1%+0.1pp	-0.2%+0.2pp	-0.4%+0.5pp	-0.9%
Current Ratio	1.330.0	1.32+0.0	1.29-0.0	1.32-0.0	1.34+0.1	1.25-0.1	1.320.0	1.32
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.01-0.1	0.100.0	0.110.0	0.120.0	0.12
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Avidxchange Holdings, Inc.'s annual revenue?

Avidxchange Holdings, Inc. (AVDX) reported $438.9M in total revenue for fiscal year 2024. This represents a 15.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Avidxchange Holdings, Inc.'s revenue growing?

Avidxchange Holdings, Inc. (AVDX) revenue grew by 15.3% year-over-year, from $380.7M to $438.9M in fiscal year 2024.

Is Avidxchange Holdings, Inc. profitable?

Yes, Avidxchange Holdings, Inc. (AVDX) reported a net income of $8.1M in fiscal year 2024, with a net profit margin of 1.9%.

What is Avidxchange Holdings, Inc.'s earnings per share (EPS)?

Avidxchange Holdings, Inc. (AVDX) reported diluted earnings per share of $0.04 for fiscal year 2024. This represents a 117.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Avidxchange Holdings, Inc.'s EBITDA?

Avidxchange Holdings, Inc. (AVDX) had EBITDA of $33.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Avidxchange Holdings, Inc. have?

As of fiscal year 2024, Avidxchange Holdings, Inc. (AVDX) had $355.6M in cash and equivalents against $4.3M in long-term debt.

What is Avidxchange Holdings, Inc.'s gross margin?

Avidxchange Holdings, Inc. (AVDX) had a gross margin of 72.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Avidxchange Holdings, Inc.'s operating margin?

Avidxchange Holdings, Inc. (AVDX) had an operating margin of -0.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Avidxchange Holdings, Inc.'s net profit margin?

Avidxchange Holdings, Inc. (AVDX) had a net profit margin of 1.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Avidxchange Holdings, Inc.'s return on equity (ROE)?

Avidxchange Holdings, Inc. (AVDX) has a return on equity of 1.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Avidxchange Holdings, Inc.'s operating cash flow?

Avidxchange Holdings, Inc. (AVDX) generated $71.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Avidxchange Holdings, Inc.'s total assets?

Avidxchange Holdings, Inc. (AVDX) had $2.1B in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Avidxchange Holdings, Inc. spend on research and development?

Avidxchange Holdings, Inc. (AVDX) invested $101.1M in research and development during fiscal year 2024.

Does Avidxchange Holdings, Inc. buy back shares?

Yes, Avidxchange Holdings, Inc. (AVDX) spent $50.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Avidxchange Holdings, Inc. have outstanding?

Avidxchange Holdings, Inc. (AVDX) had 204M shares outstanding as of fiscal year 2024.

What is Avidxchange Holdings, Inc.'s current ratio?

Avidxchange Holdings, Inc. (AVDX) had a current ratio of 1.29 as of fiscal year 2024, which is considered adequate.

What is Avidxchange Holdings, Inc.'s debt-to-equity ratio?

Avidxchange Holdings, Inc. (AVDX) had a debt-to-equity ratio of 0.01 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Avidxchange Holdings, Inc.'s return on assets (ROA)?

Avidxchange Holdings, Inc. (AVDX) had a return on assets of 0.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Avidxchange Holdings, Inc.'s Piotroski F-Score?

Avidxchange Holdings, Inc. (AVDX) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Avidxchange Holdings, Inc.'s earnings high quality?

Avidxchange Holdings, Inc. (AVDX) has an earnings quality ratio of 8.83x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Avidxchange Holdings, Inc. cover its interest payments?

Avidxchange Holdings, Inc. (AVDX) has an interest coverage ratio of -0.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Avidxchange Holdings, Inc.?

Avidxchange Holdings, Inc. (AVDX) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.