Avidxchange Holdings, Inc. Stock Price, News & Analysis

AvidXchange Holdings, Inc. (Nasdaq: AVDX), a provider of accounts payable automation software and payment solutions, will release its first quarter 2023 financial results on May 3, 2023. A conference call is scheduled for 10:00 AM ET on the same day to discuss these results. This call will be available for live viewing via webcast and will later be accessible as a recorded replay. AvidXchange’s software serves over 8,800 businesses and has facilitated payments to more than 965,000 suppliers in the past five years. This demonstrates the company's significant role in automating AP workflows for middle-market businesses.

On March 8, 2023, AvidXchange Holdings, Inc. (Nasdaq: AVDX), a top provider of accounts payable automation software, announced its management team will attend the Wolfe Research FinTech Forum in New York on March 15, 2023, at 8:00 AM ET. This event will feature a live webcast accessible on AvidXchange's investor relations website, with a replay available for a limited time. AvidXchange has over 8,000 business clients and has facilitated payments to more than 825,000 suppliers in the past five years. The company continues to innovate in the accounts payable space, enhancing payment solutions for middle-market businesses.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) has announced a referral partnership with Corelation, enabling the integration of AvidAscend, a premier invoice-to-pay software, for over 190 credit union customers of Corelation. The partnership aims to modernize payment processes by transitioning from manual systems to a streamlined, automated solution, improving efficiency and reducing costs. AvidXchange's solution has already received positive feedback from clients like Sun Community Federal Credit Union, highlighting enhanced functionality and robust reporting. This strategic collaboration positions AvidXchange to cater to the evolving needs of credit unions in a digital-first environment.

AvidXchange Holdings, Inc. (AVDX) reported a 24.4% revenue growth year-over-year for Q4 2022, totaling $86.2 million. Adjusted EBITDA losses narrowed significantly to $(1.3) million from $(8.2) million in Q4 2021. The company projects an accelerated path to adjusted EBITDA profitability in 2023, earlier than the previous target of 2024. Full-year revenue for 2022 reached $316.4 million, a 27.4% increase year-over-year. The company processed 18 million transactions in Q4 2022, marking a 9.2% rise. For 2023, AvidXchange expects revenue between $359 million and $366 million.

AvidXchange (Nasdaq: AVDX) announced the launch of AvidAnalytics, a premium Business Intelligence solution aimed at enhancing spend management for middle market businesses. This innovative tool provides custom reporting capabilities, surpassing traditional methods, and includes intelligent analytics, immersive dashboards, and data visualizations. AvidAnalytics integrates seamlessly with the AvidInvoice, AvidPay, and AvidBuy platforms, offering users improved visibility into accounts payable processes. As companies increasingly shift to digital solutions, AvidAnalytics empowers buyers with actionable insights directly from their data.

AvidXchange Holdings (Nasdaq: AVDX) has announced key leadership changes, elevating Dan Drees to President and welcoming James Sutton as Chief Revenue Officer. Drees, previously Chief Growth Officer, will oversee sales, marketing, operations, and product, focusing on enhancing organizational agility and operational synergies. The leadership shifts aim to strengthen AvidXchange’s position in the accounts payable automation market, catering to middle-market businesses. Sutton brings substantial SaaS experience, having previously held roles at Salesforce and Google. These changes signal a commitment to growth and improved efficiency in response to customer needs and strategic initiatives.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) will release its fourth quarter 2022 financial results on March 1, 2023. The company will host a conference call at 10:00 AM ET on the same day to discuss these results, which can be accessed live via webcast. AvidXchange specializes in accounts payable automation and payment solutions, serving over 8,000 businesses and facilitating payments to 825,000 suppliers in the past five years. For more information, visit their investor relations site.