AvidXchange slides after downbeat annual forecasts

AvidXchange Holdings

26/02/2025 12:48

** Shares of fintech firm AvidXchange AVDX.O plunge 15.4% to $7.74 premarket

** AVDX forecasts FY 2025 adjusted EPS between 25 cents and 27 cents, compared with Wall Street expectations of 34 cents, according to estimates compiled by LSEG

** Co expects annual revenue between $453 million and $460 million, also beneath Street expectations of $483.7 million

** AVDX CEO says choppy macro backdrop is expected to impact revenue growth in 2025

** Still, AVDX expects to see continued margin expansion this year

** AVDX provides accounts payable automation software and payment offerings to middle market businesses

** Meanwhile, Q4 adjusted EPS of 8 cents topped analysts' estimate of 7 cents

** AVDX stock down 11.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))