Avidxchange Holdings, Inc. - AVDX STOCK NEWS

AvidXchange (AVDX) has unveiled new AI-powered features for its invoice automation solution, introducing three key enhancements: AI Approval Agent, AI PO Matching Agent, and improved Invoice Capture capabilities.

The AI Approval Agent analyzes historical patterns to assess invoice approval likelihood, while the PO Matching Agent automates line-item matching between purchase orders and invoices. Enhanced Invoice Capture features continuously learn from data patterns to deliver approval-ready invoices with reduced manual intervention.

According to AvidXchange's 2025 trends report surveying 500 mid-market finance leaders, 76% acknowledge AI's value in improving finance department efficiency. FirstService Residential, a customer, reported a 20% reduction in invoice discrepancy queue and increased accuracy in AP operations after implementing these features.

AvidXchange Holdings (Nasdaq: AVDX), a leading provider of accounts payable automation software and payment solutions for middle market businesses, has announced its participation in the upcoming Wolfe FinTech Forum 2025.

The company's management team will present at the forum on Wednesday, March 12, 2025, at 8:10 AM ET in New York, NY. Investors and interested parties can access a live webcast of the presentation through the Events page on AvidXchange's investor relations website. A replay will be available for a time following the presentation.

AvidXchange (AVDX) reported strong Q4 and full-year 2024 financial results, marking significant improvements in profitability and operational efficiency. The company achieved Q4 revenue of $115.4 million, up 10.9% year-over-year, with GAAP net income of $4.7 million compared to a loss in Q4 2023.

Key highlights include non-GAAP gross margin expansion to 73.6% from 69.4% in 2023, and adjusted EBITDA margins growth to 19.3% from 8.0%. The company processed 19.9 million transactions in Q4 2024, handling a total payment volume of $21.9 billion. Transaction yield increased 6.4% to $5.80.

AvidXchange maintained a strong balance sheet with $389.3 million in cash and marketable securities and only $9.1 million in long-term debt. The company completed a strategic $50 million share repurchase program and paid down high-interest bank debt, demonstrating disciplined capital allocation.

AvidXchange Holdings (Nasdaq: AVDX), a provider of accounts payable automation software and payment solutions for middle market businesses, has scheduled its fourth quarter 2024 financial results announcement for Wednesday, February 26, 2025. The company will host a conference call and webcast at 10:00 AM ET on the same day to discuss the results. Investors can access the live webcast through the company's investor relations website, where a recorded replay will also be available after the call.

AvidXchange Holdings (Nasdaq: AVDX), a leading provider of accounts payable automation software and payment solutions for middle market businesses, has announced its participation in four upcoming investor conferences. The schedule includes:

• KBW Fintech Conference in New York on November 14, 2024 (8:00 AM ET)
• FT Partners Fintech Conference in New York on November 20, 2024 (10:40 AM ET)
• UBS Global Technology and AI Conference in Scottsdale on December 3, 2024 (4:55 PM ET)
• Wells Fargo TMT Summit in Rancho Palos Verdes on December 4, 2024 (1:15 PM ET)

Live webcasts of select presentations will be available on the company's investor relations website with replays available for a time.

AvidXchange (AVDX) reported strong Q3 2024 financial results with total revenue reaching $112.8 million, up 14.3% year-over-year. The company achieved GAAP net income of $4.0 million, compared to a net loss of $(8.1) million in Q3 2023. Notable metrics include non-GAAP gross margin of 74.5% and adjusted EBITDA margin of 20.7%. The company processed 20.2 million transactions and handled $21.5 billion in payment volume. Based on strong performance, AvidXchange raised its 2024 outlook, projecting revenue of $437.0-$439.0 million and adjusted EBITDA of $78.0-$79.0 million.

AvidXchange (AVDX) announced winners of its inaugural Change Maker Awards, recognizing six AP professionals who drove innovative changes in their organizations. The winners implemented AvidXchange's AP automation solutions, achieving significant improvements including: cost savings ranging from $45,000 to $100,000 annually, reduced payment processing times, increased supplier satisfaction, and enhanced operational efficiency. Notable achievements include reducing invoice approval times by up to 30%, decreasing processing times from 14 to 5 days, and cutting administrative tasks from 40 to 10 hours weekly. Winners will be featured on the Nasdaq Tower and receive $1,000 donations to their chosen charities.

Insight Global, a leading professional services and staffing company, is bringing its Be the Light career event back to Charlotte on October 18, 2024. The event, powered by Avidxchange, will provide free career resources to local job seekers, including:

• One-on-one consultations with hiring experts
• Career readiness workshops
• Professional headshots
• Networking opportunities with local employers

The event aims to support underrepresented communities and break down barriers to career advancement. It will take place at the AvidXchange Silver Hammer Building from 9 a.m. to 4 p.m. Registration is encouraged as space is

AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, has announced the timing of its third quarter 2024 financial results release and conference call. The company will release its financial results for the quarter ended September 30, 2024, on Wednesday, November 6, 2024.

A conference call to discuss the results will be held on the same day at 10:00 AM ET. The call will be broadcast live via webcast on the company's investor relations website. Following the call, a recorded replay will be available on the AvidXchange Investor Relations website for those unable to attend the live event.