AvidXchange Q1 2023 Earnings Report

AvidXchange EPS Results

• Actual EPS: -$0.06
• Consensus EPS: -$0.11
• Beat/Miss: Beat by +$0.05
• One Year Ago EPS: N/A

AvidXchange Revenue Results

• Actual Revenue: $86.82 million
• Expected Revenue: $82.66 million
• Beat/Miss: Beat by +$4.16 million
• YoY Revenue Growth: N/A

AvidXchange Announcement Details

• Quarter: Q1 2023
• Date: 5/3/2023
• Time: N/A

AvidXchange (NASDAQ:AVDX) provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and the AvidXchange Supplier Hub, which provides supplier insights to cash flow, tools for in-network invoices and payments, and early payment feature. Its platform offers electronic invoice capture, workflow routing, and automated payments solutions. The company serves real estate, community association management, construction, financial services, healthcare facilities, social services, education, hospitality, and media sectors through direct salesforces; strategic channel partnerships; and software and technology business partners. AvidXchange Holdings, Inc. was incorporated in 2000 and is headquartered in Charlotte, North Carolina.