Avidxchange Holdings, Inc. Stock Price, News & Analysis

AvidXchange Holdings (Nasdaq: AVDX) has introduced Straight Through Processing (STP), enhancing the payment experience for high-frequency supplier customers via the AvidPay Network.

STP automates payment delivery, allowing funds to flow directly to suppliers' bank accounts, improving speed and reliability. This change minimizes human error and offers detailed remittance data for bookkeeping.

The innovation aligns with feedback from customers and aims to bolster AvidXchange’s automated accounts payable services, responding to growing industry demand.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) reported a strong start to 2022, with first-quarter revenue reaching $71.2 million, up 29% year-over-year. The company experienced significant transaction volume growth, processing 16.9 million transactions, a 15.6% increase from Q1 2021. Adjusted EBITDA losses were reduced to $(5.6) million, improving from $(6.5) million year-over-year. AvidXchange raised its full-year revenue outlook to between $303 million and $307 million, while lowering adjusted EBITDA losses to between $(35) million and $(39) million.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) is set to release its first quarter 2022 financial results on May 5, 2022, after market close. The company will hold a conference call at 6:00 PM ET to discuss these results, which can be streamed live via their investor relations website. AvidXchange specializes in accounts payable automation software and payment solutions for middle market businesses, serving over 8,000 clients and completing payments to more than 825,000 suppliers in the past five years.

AvidXchange Holdings (Nasdaq GS: AVDX) reported a positive outlook on middle-market spending trends in its latest release. The Q4 2021 data shows ongoing growth, marking the sixth consecutive quarterly increase in spending. Notably, investment in technology is leading the way as businesses pursue efficiency amidst macroeconomic challenges. AvidXchange emphasizes that automated digital solutions enhance resilience and operational efficiency for middle-market companies.

AvidXchange Holdings, Inc. (Nasdaq: AVDX) has announced strategic growth in the Homeowners Association (HOA) sector by appointing Michael Pizzico as Vice President. He will oversee sales performance, strategy, and revenue opportunities within this new business line. CEO Michael Praeger emphasized AvidXchange's commitment to understanding the unique challenges faced by middle-market businesses. With over 8,000 clients and a strong supplier network, AvidXchange seeks to enhance its AP automation solutions in the HOA industry.

AvidXchange, a provider of accounts payable automation software, announced the completion of the first stage of a Wi-Fi infrastructure project in Charlotte, N.C. This initiative, in partnership with the City of Charlotte and Tech Rising, offers free high-speed internet access to residents, enhancing digital equity in local communities. A gigabit fiber connection was established to facilitate this access, with plans for future expansions. AvidXchange will also host the Tech Rising Summit on April 6, 2022, focusing on digital equity and providing grants for technology education.

AvidXchange Holdings (AVDX) issued a correction regarding share ownership data provided to institutional investors. The company clarified that Mastercard Investment Holdings reported no change in its stake, contrary to previous reports indicating a reduction as of December 31, 2021. Additionally, AvidXchange confirmed that affiliate shares held by Steve McLaughlin also remained unchanged as of October 13, 2021. This correction aims to provide accurate shareholder information, crucial for institutional investors and market stability.

AvidXchange Holdings, Inc. (AVDX) reported strong financial results for Q4 2021, with total revenue of $69.3 million, up 31% year-over-year. They achieved full-year revenue of $248.4 million, reflecting a 33.6% increase from 2020. Despite a GAAP net loss of $(72.1) million in Q4 and $(199.6) million for the year, the company noted improvements in gross profit margins. For 2022, AvidXchange projects revenue between $296.5 million and $301.5 million, alongside an adjusted EBITDA loss of $(42.0) million to $(48.0) million, indicating ongoing investments in growth.

CHARLOTTE, N.C., Feb. 25, 2022 (GLOBE NEWSWIRE) -- AvidXchange Holdings, a leader in accounts payable automation, announced upcoming presentations at the Wolfe FinTech Forum and KeyBanc’s 17th Annual Emerging Tech Conference. The management team will present virtually at the Wolfe Conference on March 8, 2022, at 1:40 PM ET, and at the KeyBanc Conference on March 9, 2022, at 2:30 PM ET. Live webcasts will be available on their investor relations website, along with replays for a limited time.