UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________. Commission File Number: 001-40898 AvidXchange Holdings, Inc. (Exact name of registrant as specified in its charter) ...

For the quarter ended September 2024, AvidXchange Holdings, Inc. (AVDX) reported revenue of $112.77 million, up 14.3% over the same period last year. EPS came in at $0.07, compared to $0.03 in the year-ago quarter.The reported revenue represents a surprise of +1.70% over the Zacks Consensus Estimate of $110.89 million. With the consensus EPS estimate being $0.07, the company has not delivered EPS surprise.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Core Insights - AvidXchange Holdings reported strong quarterly results, with a stock increase of nearly 14%, outperforming the S&P 500's 2.5% gain [1] Financial Performance - The company achieved a 14% year-over-year revenue growth, reaching nearly $113 million, supported by a 9% increase in total payment volume to $21.5 billion [2] - Non-GAAP net income more than doubled to almost $15.7 million, equating to $0.08 per share, surpassing analyst expectations of $111 million in revenue and $0.07 per share for adjusted net income [3] Future Outlook - AvidXchange raised its full-year revenue guidance for 2024 to a range of $437 million to $439 million, with the lower end slightly increased from the previous $436 million, while maintaining the adjusted per-share earnings forecast at $0.24 to $0.25 [3] - The company is managing to grow despite macroeconomic challenges, indicating strong demand and positive transaction retention trends [4]

AvidXchange Holdings, Inc. (NASDAQ:AVDX) Q3 2024 Earnings Conference Call November 6, 2024 10:00 AM ET Company Participants Mike Praeger - Co-Founder & Chief Executive Officer Joel Wilhite - Chief Financial Officer Subhaash Kumar - Head, Investor Relations Conference Call Participants Dave Koning - Baird Will Nance - Goldman Sachs Ramsey El-Assal - Barclays Sanjay Sakhrani - KBW Andrew Bauch - Wells Fargo Bryan Keane - Deutsche Bank Craig Maurer - FT Partners Jamie Friedman - Susquehanna Darrin Peller - Wol ...

| --- | --- | |-----------------------|-------| | | | | | | | | | | | | | Earnings Presentation | | | | | | Third Quarter 2024 | | | November 6, 2024 | | | --- | --- | |--------------------------------------------------------|-------| | | | | 2 2024 AvidXchange, Inc.: Proprietary & Confidential | | Q3 2024 Highlights* Total Revenue $112.8M $98.7M Q3 24 Q3 23 14.3% Q3 24 Q3 23 Non-GAAP Gross Profit Margin Total Payment Volume 74.5% 70.0% Q3 24 Q3 23 450bps 9.4% Total Transactions Processed 5.2% 20.2M 19.2M Q ...

Core Viewpoint - AvidXchange Holdings, Inc. reported quarterly earnings of $0.07 per share, meeting the Zacks Consensus Estimate, and showing an increase from $0.03 per share a year ago [1]. Financial Performance - The company posted revenues of $112.77 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 1.70%, compared to $98.68 million in the same quarter last year [2]. - Over the last four quarters, AvidXchange has surpassed consensus EPS estimates three times and has also topped consensus revenue estimates three times [1][2]. Stock Performance - AvidXchange shares have declined approximately 31.4% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3]. - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $114.78 million, and for the current fiscal year, it is $0.24 on revenues of $438.08 million [7]. Industry Outlook - The Internet - Software industry, to which AvidXchange belongs, is currently ranked in the top 24% of over 250 Zacks industries, indicating a favorable outlook [8]. - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact AvidXchange's stock performance [5].

Exhibit 99.1 > avidxchange AvidXchange Announces Third Quarter 2024 Financial Results Charlotte, N.C. – November 6, 2024 – AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced financial results for the third quarter ended September 30, 2024. "We delivered solid third quarter 2024 results as measured by virtually every key metric. Starting with year over year revenue g ...

Core Insights - AvidXchange Holdings, Inc. reported strong financial results for Q3 2024, with significant year-over-year growth in revenue and margins, driven by effective cost management and operational efficiencies [1][2][3] Financial Performance - Total revenue for Q3 2024 was $112.8 million, reflecting a 14.3% increase from $98.7 million in Q3 2023 [3] - Non-GAAP gross margin reached 74.5%, while adjusted EBITDA margin was 20.7%, both at the high end of the targets set during the June 2023 Investor Day [2][3] - GAAP net income improved to $4.0 million from a net loss of $(8.1) million in Q3 2023 [3] - Non-GAAP net income was $15.7 million, up from $5.8 million in the same quarter last year [3] Operational Highlights - The company processed 20.2 million transactions in Q3 2024, a 5.2% increase from 19.2 million in Q3 2023 [4] - Total payment volume for the quarter was $21.5 billion, representing a 9.4% increase from $19.6 billion in Q3 2023 [4] - Transaction yield increased by 8.5% to $5.59 from $5.15 in Q3 2023 [4] Debt Management and Financial Outlook - AvidXchange extinguished $63 million of higher interest rate term debt and established a new $150 million credit facility [2][3] - The company has a strong balance sheet with cash and marketable securities totaling $394.3 million [1] - Full Year 2024 revenue guidance was revised to $437.0 - $439.0 million, up from the previous range of $436.0 - $439.0 million [5]

CHARLOTTE, N.C., Oct. 23, 2024 (GLOBE NEWSWIRE) -- AvidXchange, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced the winners of the inaugural Change Maker Awards, recognizing individuals who have driven innovative and transformative change in the AP industry. Change Makers:For this award program, AvidXchange honors those who embodied being a “change maker,” or someone who facilitates o ...

CHARLOTTE, N.C., Oct. 17, 2024 (GLOBE NEWSWIRE) -- In today’s fast-paced business environment, more and more finance departments are beginning to turn to automation to improve efficiency and job satisfaction. As automation continues to transform the landscape of financial operations, new data suggests that accounts payable (AP) professionals with a higher degree of automation are benefiting both in their careers and lifestyles. According to a new survey conducted by the Institute of Finance and Management ( ...