AvidXchange (AVDX) Reports Q1 Earnings: What Key Metrics Have to Say

Core Insights - AvidXchange Holdings, Inc. reported $105.6 million in revenue for Q1 2024, marking a year-over-year increase of 21.6% [1] - The company's EPS for the same period was $0.06, a significant improvement from -$0.02 a year ago [1] - Revenue exceeded the Zacks Consensus Estimate of $101.33 million by 4.21%, while the EPS surprise was 100% compared to the consensus estimate of $0.03 [1] Key Metrics - Transaction Yield was reported at $5.47, surpassing the three-analyst average estimate of $5.23 [2] - Transactions Processed totaled 19,300 thousand, slightly below the estimated 19,411.05 thousand [2] - Total Payment Volume reached $19.90 billion, exceeding the average estimate of $19.52 billion [2] Stock Performance - AvidXchange shares have returned -2.6% over the past month, compared to a -0.2% change in the Zacks S&P 500 composite [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]