AvidXchange (US:AVDX) Globenewswireยท2025-05-07 10:45Financial Performance - AvidXchange Holdings, Inc. reported total revenue of $107.9 million for Q1 2025, representing a year-over-year increase of 2.2% from $105.6 million in Q1 2024 [6][18] - The company experienced a GAAP net loss of $(7.3) million in Q1 2025, compared to a net loss of $(1.0) million in Q1 2024 [6][18] - Non-GAAP net income for Q1 2025 was $10.4 million, down from $11.3 million in the same period last year [6][18] - Adjusted EBITDA for Q1 2025 was $17.5 million, slightly lower than $17.7 million in Q1 2024 [6][18] Key Business Metrics - Total transactions processed in Q1 2025 were 19.7 million, an increase of 1.9% from 19.3 million in Q1 2024 [7] - Total payment volume in Q1 2025 reached $20.6 billion, up 3.7% from $19.9 billion in Q1 2024 [7] - The transaction yield for Q1 2025 was $5.48, a slight increase of 0.2% from $5.47 in Q1 2024 [7] Financial Outlook - AvidXchange has suspended its previously issued financial outlook for fiscal 2025 due to its pending acquisition by TPG in partnership with Corpay [4] - The company will not hold a teleconference to discuss its Q1 2025 financial results, providing supplemental information on its Investor Relations website instead [5] Balance Sheet and Cash Flow - As of March 31, 2025, AvidXchange had cash and marketable securities totaling $389.3 million [6] - The company reported net cash provided by operating activities of $7.4 million for Q1 2025, a significant improvement from a use of $(6.4) million in the prior year [6][24]