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AvidXchange Holdings (AVDX)
NASDAQ:AVDX
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.07Last Year’s EPS
$0.05Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 24.24%
|Next Earnings Date:Feb 26, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong revenue and margin growth, positive net income, and substantial EBITDA improvements. However, challenges in transaction retention, lower-than-expected political revenues, and anticipated interest revenue headwinds present potential obstacles.Company Guidance
During the AvidXchange Holdings, Inc. Third Quarter 2024 Earnings Call, management provided comprehensive guidance, highlighting several key financial metrics. The company reported a revenue of nearly $113 million, marking a year-over-year growth of over 14%. Non-GAAP gross margins showed a positive trajectory, reaching 74.5%, an increase of 450 basis points, nearing the high end of their targeted 72% to 75% range. Adjusted EBITDA margins for the quarter were approximately 21%, showing a 100% plus increase from the previous year. The transaction yield metric rose by more than 8% to $5.59 per transaction. Additionally, AvidXchange revised its 2024 business outlook upwards, projecting total revenue between $437 million and $439 million, with an expected non-GAAP adjusted EBITDA profit ranging from $78 million to $79 million, underscoring their strong execution and strategic initiatives.Strong Revenue Growth
Revenue for Q3 2024 was just under $113 million, marking a 14% year-over-year growth. Adjusted for a prior period adjustment, this growth would have been 16.1%.
Improved Gross Margins
Non-GAAP gross margins increased to 74.5%, up 450 basis points from the previous year, reaching the upper end of the target range ahead of 2025 expectations.
Positive GAAP Net Income
Achieved a GAAP net income of $4 million for Q3 2024 versus a net loss in the same quarter last year.
Adjusted EBITDA Growth
Adjusted EBITDA was $23.3 million in Q3 2024, compared to $11.4 million in Q3 2023, showing significant profitability improvement.
Strategic Partnerships
Signed new strategic partnerships with banks and industry players, expected to drive future transaction volumes and growth.
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AVDX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AVDX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $8.50 | $9.68 | +13.88% |
| Jul 31, 2024 | $12.72 | $8.94 | -29.72% |
| May 08, 2024 | $11.99 | $11.60 | -3.25% |
| Feb 28, 2024 | $12.14 | $12.69 | +4.53% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does AvidXchange Holdings (AVDX) report earnings?
AvidXchange Holdings (AVDX) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is AvidXchange Holdings (AVDX) earnings time?
AvidXchange Holdings (AVDX) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AVDX EPS forecast?
AVDX EPS forecast for the fiscal quarter 2024 (Q4) is $0.07.
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