AvidXchange (AVDX) - 2024 Q1 - Quarterly Results

Exhibit 99.1 avidxchange" AvidXchange Announces First Quarter 2024 Financial Results • Strong across-the-board year-over-year Q1'24 financial performance driven by yield expansion, transaction growth, unit cost reduction and operating expense discipline • Q1'24 operating income loss of $(4.1) million more than halved versus a loss of$(17.1) million in the comparable year-ago period • Q1'24 adjusted EBITDA up sharply to $17.7 million vs.$0.4 million in the comparable year-ago period • Sustaining a strong b ...