AvidXchange Holdings rises after Q4 results beat

AvidXchange Holdings

28/02/2024 15:11

** Shares of payment solutions provider AvidXchange Holdings
 AVDX.O  rise 10.9% to $13.47 in morning trade
    ** Co's Q4 adjusted net income came in at $9.40 mln vs
analysts' expectations of $2.50 mln - LSEG data
    ** Q4 revenue jumped 20.8% to $104.10 mln, also topping
estimates of $98.60 mln
    ** Compared to last year, Q4 total payment volume rose 8.5%
to $19.90 bln, while total transactions increased 6.1% to 19.10
mln 
    ** AVDX expects FY 2024 revenue between $441 mln to $447 mln
vs expectations of $444.30 mln
    ** Stock rose 24.7% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))