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. (formerly Nasdaq: AVDX) generates frequent news as a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers. This news page aggregates coverage of the company’s product announcements, partnerships, survey findings, and financial disclosures so readers can follow how AvidXchange’s AP and payments platform evolves over time.
Company news often highlights developments in its AP automation and payments offerings, including the launch of Accounts Payable as a Service, which lets ERP providers embed AP and payment workflows directly into their platforms using AI‑enhanced automation, APIs, and prebuilt modules. Updates may also feature new embedded ERP relationships and integrations that extend AvidXchange’s reach across industry verticals.
Another recurring theme in AvidXchange news is its research on finance and AP trends. The company releases surveys and reports on topics such as economic sentiment among finance professionals, adoption of AI and automation, workforce concerns among AP teams, and payment security trends. These stories provide context on how finance departments are responding to economic pressures and technology change.
Historical news items include quarterly financial results from AvidXchange’s time as a public company, detailing revenue trends, transaction volumes, and payment volumes, as well as information about its acquisition by TPG in partnership with Corpay and the transition to private ownership. Together, these articles offer a record of AvidXchange’s business performance, strategic direction, and role in the AP automation market.
Investors, customers, and finance professionals can use this news feed to monitor AvidXchange’s product evolution, partnerships, research releases, and significant corporate events related to AP automation and B2B payments.
Sixth Street has successfully closed funds totaling $4.4 billion to invest in high-growth businesses through its Sixth Street Growth platform. This represents a significant increase from the previous fund, which closed at $2.2 billion in 2019. The firm has invested over $9 billion in more than 70 companies since inception, including notable partners like Airbnb (NASDAQ: ABNB), AvidXchange (NASDAQ: AVDX), and Sprinklr (NYSE: CXM). The firm aims to leverage its operational expertise to accelerate growth for portfolio companies amid current macroeconomic opportunities.
AvidXchange Holdings, Inc. (Nasdaq: AVDX) reported its third quarter 2022 results with total revenue of $82.4 million, reflecting a 26.4% year-over-year growth. The company achieved a GAAP net loss of $(25.4) million, improving from the previous year’s loss of $(35.5) million. Gross profit also increased to $47.6 million, or 57.8% of total revenue. AvidXchange processed 18.0 million transactions, up 11.9% from 2021, and increased payment volume by 29.4% to $18.1 billion. Full-year revenue guidance has been raised to $314.0 - $315.0 million.
AvidXchange Holdings (Nasdaq: AVDX) will release its third quarter 2022 financial results on November 2, 2022. The results will be discussed in a conference call at 10:00 AM ET, which will be accessible via webcast. AvidXchange offers accounts payable automation software and payment solutions for middle market businesses and their suppliers, having processed payments for over 825,000 suppliers through its platform. The company aims to transform the bill payment process for over 8,000 clients.
AvidXchange (Nasdaq: AVDX) has released its latest report on Middle Market Spending Trends, revealing a significant increase in spending by middle-market businesses in Q2 2022, the largest growth since 2017. Despite economic uncertainties, 70% of surveyed finance professionals plan to boost budgets over the next year, prioritizing technology and efficiency investments. The AvidPay Network's performance showcases the resilience of the middle market. AvidXchange continues to lead in accounts payable automation, serving over 8,000 businesses with extensive supplier payment solutions.
AvidXchange Holdings (Nasdaq: AVDX) has announced its participation in several key investor conferences in September 2022. The events include:
- Goldman Sachs 12th Annual Financial Technology Conference on September 8
- Goldman Sachs’ Communacopia + Technology Conference on September 12 at 1:00 pm ET
- Piper Sandler Growth Frontiers Conference on September 13 at 3:40 pm ET
- Jefferies Office of the CEO Summit on September 27 at 12:30 pm ET
Live webcasts will be available on AvidXchange's investor relations website, with replays accessible for a limited time.
AvidXchange (Nasdaq: AVDX) announced an API integration with Blackbaud Financial Edge NXT, enhancing accounts payable automation for middle market businesses. This integration allows seamless syncing of GL codes, vendor lists, invoices, and payments, improving efficiency and security in payment processing. As a result, organizations can save time and reduce costs while minimizing fraud risks. AvidXchange services over 8,000 businesses and has processed payments for over 825,000 suppliers in the past five years, reinforcing its position in the AP automation sector.
On August 4, 2022, AvidXchange Holdings, Inc. (Nasdaq: AVDX) announced upcoming presentations at key investor conferences. Management will participate in the KeyBanc Technology Leadership Forum on August 8, 2022, at 2:30 PM MDT, and the Deutsche Bank Technology Conference on August 31, 2022, at 3:00 PM PDT. Both events will feature live webcasts accessible on AvidXchange's investor relations website. AvidXchange is a renowned provider of accounts payable automation solutions for middle market businesses, serving over 8,000 clients and managing payments for more than 825,000 suppliers.
AvidXchange reported a 30.3% revenue increase in Q2 2022, totaling $76.6 million, driven by strong operational execution and demand. The GAAP net loss widened to $(25.7 million) but exceeded analysts' expectations with lower-than-anticipated adjusted EBITDA loss of $(4.7 million). The company raised its 2022 revenue guidance to $308.0 - $310.0 million, reflecting confidence in its market position amidst economic uncertainty. Key metrics included 17.3 million transactions processed and a 36.0% increase in payment volume.
AvidXchange Holdings announced a partnership with Member Driven Technologies (MDT) to enhance accounts payable automation for credit unions. This collaboration aims to promote AvidAscend, a solution that integrates seamlessly with MDT's Symitar Episys platform, streamlining operations for over 100 credit union clients. Users can transition from paper-based systems to a modern, automated approach, improving efficiency and transparency in invoice management. The partnership is intended to empower employees, reduce operational costs, and address challenges faced during remote work, especially in cybersecurity and staffing.
AvidXchange Holdings, Inc. (Nasdaq: AVDX) will release its second quarter 2022 financial results on August 3, 2022, after market close. A conference call to discuss these results will be held at 6:00 PM ET the same day and will be accessible via a live webcast. AvidXchange offers accounts payable automation software and payment solutions tailored for middle market businesses, servicing over 8,000 businesses and facilitating payments to more than 825,000 suppliers.