AvidXchange Holdings, Inc. (NASDAQ: AVDX) Q4 2024 Earnings Call:
On February 26, 2025, at 10:00 AM ET, AvidXchange Holdings, Inc. (AvidXchange) held its Fourth Quarter and Full Year 2024 Earnings Call. The call was hosted by Mike Praeger, Co-Founder and CEO, Joel Wilhite, CFO, and Subhaash Kumar, Head of Investor Relations.
Company Participants:
- Mike Praeger – Co-Founder & Chief Executive Officer
- Joel Wilhite – Chief Financial Officer
- Subhaash Kumar – Head of Investor Relations
Conference Call Participants:
- Will Nance – Goldman Sachs
- Robert Bamberger – Baird
- Ramsey El-Assal – Barclays
- Craig Maurer – FT Partners
- Andrew Bauch – Wells Fargo
- Darrin Peller – Wolfe Research
- Bryan Keane – Deutsche Bank
- Dominick Gabriele – Compass Point
- Tien-Tsin Huang – JPMorgan
- James Faucette – Morgan Stanley
- Jamie Friedman – Susquehanna
During the call, AvidXchange reported their financial results for the fourth quarter and the full year of 2024. The company’s revenue for the fourth quarter came in at $125.2 million, representing a 20% year-over-year increase. The net income for the same period was reported at $11.7 million, a significant improvement from the net loss of $1.2 million reported in the previous year’s fourth quarter.
For the full year 2024, AvidXchange reported a revenue of $456.4 million, up 17% from the previous year. The net income for the full year was reported at $34.3 million, compared to a net loss of $2.4 million in the previous year. These impressive financial results were driven by the company’s continued growth in its B2B payment automation solutions, which saw an increase in both new and existing customers.
Impact on Individuals:
The strong financial performance of AvidXchange could lead to several positive effects for individuals. As a leading B2B payment automation solutions provider, AvidXchange’s growth could result in more job opportunities in the technology sector. Additionally, the company’s innovative solutions could streamline payment processes for businesses, making it easier and more efficient for individuals to get paid for their work.
Impact on the World:
The growth of AvidXchange and other B2B payment automation companies could have a significant impact on the world economy. By automating payment processes, companies can save time and resources, allowing them to focus on their core business operations. This could lead to increased productivity and economic growth. Additionally, the reduction of manual payment processes could help to minimize errors and fraud, leading to a more secure and efficient financial system.
In conclusion, AvidXchange’s strong fourth quarter and full year 2024 financial results are a testament to the growing demand for B2B payment automation solutions. The company’s continued growth could lead to new job opportunities and a more efficient financial system, benefiting individuals and the world economy as a whole. We look forward to seeing how AvidXchange and other players in the industry continue to innovate and drive growth in the coming years.
Thank you for joining us on this call, and we look forward to updating you on our progress in the future.
Operator, that concludes our call for today. You may now disconnect.
