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AvidXchange (AVDX) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, AvidXchange Holdings, Inc. (AVDX - Free Report) reported revenue of $112.77 million, up 14.3% over the same period last year. EPS came in at $0.07, compared to $0.03 in the year-ago quarter.
The reported revenue represents a surprise of +1.70% over the Zacks Consensus Estimate of $110.89 million. With the consensus EPS estimate being $0.07, the company has not delivered EPS surprise.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how AvidXchange performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Transaction Yield: $5.59 versus $5.57 estimated by two analysts on average.
- Transactions Processed: 20.2 million versus 20.02 million estimated by two analysts on average.
- Total Payment Volume: $21.50 billion versus $21.43 billion estimated by two analysts on average.
- Revenues- Payment: $80.70 million versus $77.25 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +17.8% change.
- Revenues- Software: $30.66 million compared to the $31.20 million average estimate based on two analysts. The reported number represents a change of +6% year over year.
- Revenues- Services: $1.41 million compared to the $1.29 million average estimate based on two analysts. The reported number represents a change of +10.6% year over year.
View all Key Company Metrics for AvidXchange here>>>Shares of AvidXchange have returned +9.7% over the past month versus the Zacks S&P 500 composite's +0.7% 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.