Avidxchange Holdings, Inc. ( (AVDX) ) has released its Q1 earnings. Here is a breakdown of the information Avidxchange Holdings, Inc. presented to its investors.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
AvidXchange Holdings, Inc., headquartered in Charlotte, North Carolina, is a prominent provider of accounts payable automation software and payment solutions, primarily serving middle-market businesses and their suppliers. The company offers a comprehensive software-as-a-service platform that streamlines AP workflows for over 8,500 businesses and facilitates payments to more than 1.35 million supplier customers.
In its first-quarter 2025 financial results, AvidXchange reported a modest revenue growth of 2.2% year-over-year, reaching $107.9 million. The company faced challenges due to lower transaction volumes attributed to macroeconomic weaknesses and higher comparative figures from the previous year.
Key financial highlights include a GAAP net loss of $7.3 million, a swing from a net loss of $1.0 million in the same quarter of the previous year. Despite this, AvidXchange achieved a non-GAAP net income of $10.4 million. The company’s GAAP gross profit increased to $71.0 million, representing 65.8% of total revenue, while the non-GAAP gross profit rose to $79.1 million, or 73.3% of total revenue. Additionally, the company maintained a robust balance sheet with $389.3 million in cash and marketable securities.
Looking ahead, AvidXchange has suspended its financial outlook for the full year 2025 due to its pending acquisition by TPG in partnership with Corpay. The management remains focused on leveraging its strategic partnerships and enhancing its product offerings to drive future growth and operational efficiency.