AvidXchange Announces Fourth Quarter & Full Year 2024 Financial Results

Core Insights - AvidXchange Holdings, Inc. reported strong financial results for Q4 and full year 2024, with significant improvements in gross and operating margins, reflecting effective execution of its accounts payable automation strategy [2][5][6]. Financial Performance - Total revenue for Q4 2024 was $115.4 million, a 10.9$104.1 million in Q4 2023 [6]. - GAAP net income for Q4 2024 was $4.7 million, compared to a net loss of$(4.5) million in Q4 2023 [6]. - Non-GAAP net income for Q4 2024 was $17.3 million, up from$9.4 million in Q4 2023 [6]. - Adjusted EBITDA for Q4 2024 was $26.3 million, compared to$15.6 million in Q4 2023 [6]. - The company achieved a non-GAAP gross margin of 74.9% in Q4 2024, up from 71.4% in Q4 2023 [6][29]. Operational Highlights - The total number of transactions processed in Q4 2024 was 19.9 million, a 4.3% increase from 19.1 million in Q4 2023 [6]. - Total payment volume in Q4 2024 reached $21.9 billion, a 10.0$19.9 billion in Q4 2023 [6]. - The transaction yield in Q4 2024 was $5.80, reflecting a 6.4$5.45 in Q4 2023 [6]. Strategic Outlook - For FY 2025, AvidXchange anticipates revenue between $453.0 million and$460.0 million, with adjusted EBITDA projected between $86.0 million and$91.0 million [7]. - The company expects continued margin expansion in 2025 despite anticipated macroeconomic headwinds [2][5].