AvidXchange Holdings Q3 Non-GAAP Earnings, Revenue Increase; Updates 2024 Outlook

MT Newswires Live11-06

AvidXchange Holdings (AVDX) reported Q3 non-GAAP diluted earnings Wednesday of $0.07, up from $0.03 a year earlier.

Analysts polled by Capital IQ expected $0.07.

Revenue for the quarter ended Sept. 30 was $112.8 million, up from $98.7 million a year earlier.

Analysts surveyed by Capital IQ expected $110.8 million.

The company said it expects 2024 adjusted earnings of $0.24 to $0.25 per diluted share. Analysts polled by Capital IQ expect $0.24.

AvidXchange also said it now expects 2024 revenue of $437 million to $439 million, compared with $436 million to $439 million previously. Analysts polled by Capital IQ expect $436.5 million.

The company's shares fell more than 3% in recent Wednesday premarket activity.

Price: 8.11, Change: -0.27, Percent Change: -3.22

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