Avidxchange Holdings, Inc. Stock Price, News & Analysis

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.

AvidXchange, a leading provider of accounts payable automation solutions, announced the launch of FastPay Political+ on January 20, 2022. This enhanced platform aims to streamline the media buying and selling process for political agencies amidst a projected $9 billion advertising spend during the historic 2022 mid-term elections. Key features include direct media buying system integration, automated check mailing within the U.S., and upgraded virtual commercial card management tools. AvidXchange supports over 7,000 businesses and has made payments to over 700,000 suppliers in the past five years.

AvidXchange Holdings (AVDX) will present at two significant conferences: the UBS Global TMT Conference on December 7, 2021, at 10:00 AM ET, and the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2021, at 10:55 AM ET. Both presentations will feature CEO Michael Praeger and CFO Joel Wilhite and will be available via live webcast. AvidXchange specializes in accounts payable automation software, serving over 7,000 businesses and facilitating payments to more than 700,000 suppliers over five years. For webcast access, visit the AvidXchange investor relations website.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) reported a significant recovery in middle market spending, showing the largest quarterly increase since 2017. This growth is attributed to increased technology expenditures and rebounds in key sectors such as retail and food service amid post-vaccine recovery. However, the Finance & Insurance industry marked its first spending decline of the year, while Construction faced its second consecutive quarter of decreased spending due to pandemic-related challenges. AvidXchange processes around 58 million transactions annually through the AvidPay Network.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) announced a partial early lock-up release allowing employees and consultants to sell up to 25% of their common stock, effective November 19, 2021. This translates to approximately 1,602,846 shares becoming eligible for sale in the public market. AvidXchange specializes in accounts payable automation and has served over 7,000 businesses, facilitating payments to more than 700,000 suppliers. The announcement may impact stock performance as shares enter the market due to employee selling.

AvidXchange Holdings reported a 37% increase in revenue for Q3 2021, totaling $65.2 million, driven by a 40% growth in total payment volume, reaching $14.0 billion. Despite the revenue growth, the GAAP net loss widened to $(35.5) million compared to $(18.0) million in Q3 2020. The company also processed 16.1 million transactions, up 17% year-over-year. Their full year 2021 revenue outlook is projected between $244.5M - $245.5M, with adjusted EBITDA expected to be between $(30.1)M - $(28.1)M.

AvidXchange, a leader in accounts payable automation software, announced two upcoming presentations at major conferences. CEO Michael Praeger and CFO Joel Wilhite will present virtually at the J.P. Morgan Ultimate Services Conference on November 18, 2021, at 9:35 AM ET, and at the Credit Suisse 25th Annual Technology Conference on November 30, 2021, at 8:55 AM MT (6:55 AM ET). Both events will be webcast live, with replays available for a limited time. AvidXchange serves over 7,000 businesses and has facilitated payments to more than 700,000 suppliers.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) is set to release its third-quarter financial results for the period ending September 30, 2021, on November 16, 2021, after market close. The company will host a conference call at 5:00 PM ET to discuss these results, with dial-in options available for domestic and international participants. AvidXchange specializes in accounts payable and payment automation solutions for the middle market, serving over 7,000 businesses and facilitating payments to more than 700,000 suppliers in the past five years.