Here's What Key Metrics Tell Us About AvidXchange Holdings, Inc. (AVDX) Q3 Earnings

Zacks Equity Research
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For the quarter ended September 2023, AvidXchange Holdings, Inc. (AVDX) reported revenue of $98.68 million, up 19.7% over the same period last year. EPS came in at $0.03, compared to -$0.06 in the year-ago quarter.

The reported revenue represents a surprise of +4.43% over the Zacks Consensus Estimate of $94.49 million. With the consensus EPS estimate being -$0.05, the EPS surprise was +160.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how AvidXchange Holdings, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Transactions Processed: 19,200 thousand versus 19,247.75 thousand estimated by four analysts on average.

  • Total Payment Volume: $19.60 billion versus the four-analyst average estimate of $19.38 billion.

  • Revenues- Payment: $68.49 million versus $65.95 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.9% change.

  • Revenues- Software: $28.92 million versus $27.89 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.

  • Revenues- Services: $1.28 million versus the four-analyst average estimate of $0.70 million. The reported number represents a year-over-year change of +75.5%.

View all Key Company Metrics for AvidXchange Holdings, Inc. here>>>

Shares of AvidXchange Holdings, Inc. have returned +4.2% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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