AvidXchange reports Q4 non-GAAP EPS 8c, consensus 7c

Reports Q4 revenue $115.4M, consensus $114.75M. “We are very pleased with our financial results, ending 2024 on solid financial footing. 2024 saw non-GAAP gross margin expansion to 73.6% from 69.4% in 2023, while adjusted EBITDA margins grew to 19.3% from 8.0% on the back of strong operating leverage. We remain in a strong financial position due to the strong execution on our transformational value proposition of accounts payable and payments automation aimed at our middle market buyer customers and their supplier customers through our proprietary two-sided network. With AvidXchange’s (AVDX) best-of-breed solution, we aim to unlock efficiency, visibility and control for our buyer customers’ procure-to-pay process, while advancing efficiency, predictability and support for our supplier customers’ order to cash needs. While we expect to see continued margin expansion in 2025, we are also anticipating that continued macro headwinds will impact revenue growth. That said, given the ERP integration and strategic partnerships signed in 2024, as the ones signed in 2023 begin to scale, combined with the ramp of our differentiated products such as Payment Accelerator 2.0 and Pay 2.0 as we seek to continue to leverage AI across our business ecosystem, we believe we are continuing to strengthen our competitive position while laying the building blocks for operating performance momentum as the year progresses, thereby advancing our growth, profit and value creation objectives,” said Michael Praeger, CEO & Co-Founder of AvidXchange.