Avidxchange Holdings Inc reports results for the quarter ended in March - Earnings Summary

AvidXchange Holdings

08/05/2024 14:31

* Avidxchange Holdings Inc  AVDX.OQ  reported quarterly
adjusted
earnings of 5 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of -2 cents.  The mean expectation of
fourteen analysts for the quarter was for earnings of 3 cents
per share. Wall Street expected results to range from 2 cents
to 5 cents per share.
    * Revenue rose 21.6% to $105.60 million from a year ago;
analysts
expected $102.92 million. 
    * Avidxchange Holdings Inc's reported EPS for the quarter
was
breakeven results​.
    * The company reported a quarterly loss of $1.01 million.
    * Avidxchange Holdings Inc shares had fallen by 8.8% this
quarter and lost 3.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 220.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 5
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the business
support
services peer group is also "buy"

Wall Street's median 12-month price target for Avidxchange
Holdings Inc is $13.75 
This summary was machine generated from LSEG data May 8 at 01:31
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.03           0.05           Beat
 Dec. 31 2023      0.01           0.05           Beat
 Sep. 30 2023      -0.02          0.03           Beat
 Jun. 30 2023      -0.04          0.00           Beat