AvidXchange Holdings, Inc. (AVDX) Bundle
An Overview of AvidXchange Holdings, Inc. (AVDX)
General Summary of AvidXchange Holdings, Inc. (AVDX)
AvidXchange Holdings, Inc. is a financial technology company headquartered in Charlotte, North Carolina. The company specializes in automated accounts payable and payment solutions for middle-market businesses.
| Founded | 2000 |
| Headquarters | Charlotte, North Carolina |
| Industry | Financial Technology |
| Total Employees | 1,400 |
Product and Services Overview
AvidXchange offers cloud-based software solutions for accounts payable and payment automation.
- Accounts Payable Automation Software
- Payment Management Solutions
- Invoice Processing Technology
- Electronic Payment Platforms
Financial Performance in Latest Reporting Period
| Total Revenue (2023) | $428.3 million |
| Net Loss | $95.2 million |
| Gross Margin | 47.2% |
| Number of Customers | Over 8,500 |
Market Leadership Position
AvidXchange is recognized as a leading financial technology provider in the middle-market accounts payable automation segment.
- Processed over $169 billion in payments annually
- Serves industries including construction, healthcare, and professional services
- Publicly traded on NASDAQ since 2021
Mission Statement of AvidXchange Holdings, Inc. (AVDX)
Mission Statement of AvidXchange Holdings, Inc. (AVDX)
AvidXchange's mission statement focuses on transforming accounts payable and payment processes for middle-market businesses through innovative technology solutions.
Core Mission Components
Technological Innovation
AvidXchange leverages cloud-based automation technologies to streamline financial processes. As of Q4 2023, the company processed:
| Metric | Value |
|---|---|
| Annual Payment Volume | $169 billion |
| Number of Customers | Over 8,000 |
| Invoice Processing Automation | 60% reduction in manual processing time |
Middle-Market Business Focus
Target market segment characteristics:
- Companies with $10 million to $1 billion in annual revenue
- Industries served: Construction, Hospitality, Healthcare, Manufacturing
- Geographic concentration: United States
Financial Process Optimization
Key performance metrics for 2023:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $567.4 million |
| Cloud Platform Subscribers | Over 54,000 active subscribers |
| Payment Network Size | 2.1 million suppliers |
Strategic Technology Investment
R&D investment details for 2023:
- Total R&D Expenditure: $132.6 million
- Technology Patent Portfolio: 87 registered patents
- AI/Machine Learning Integration: 45% of product capabilities
Vision Statement of AvidXchange Holdings, Inc. (AVDX)
Vision Statement Components of AvidXchange Holdings, Inc. (AVDX)
Digital Transformation in Accounts PayableAvidXchange focuses on transforming accounts payable processes through innovative cloud-based technology solutions. As of Q4 2023, the company processed $169 billion in annual payment volume across its platform.
| Platform Metrics | 2024 Data |
|---|---|
| Total Payment Volume | $169 billion |
| Number of Customers | Over 7,700 |
| Cloud-Based Solutions | 100% SaaS model |
The company targets mid-market businesses with automated accounts payable and payment solutions. In 2024, AvidXchange serves:
- 7,700+ customers
- 55% of customers in construction and real estate sectors
- 40% of customers in healthcare and other professional services
| Financial Metric | 2024 Value |
|---|---|
| Annual Recurring Revenue | $237.4 million |
| Gross Margin | 65.3% |
| Total Revenue | $502.3 million |
Core Values of AvidXchange Holdings, Inc. (AVDX)
Core Values of AvidXchange Holdings, Inc. (AVDX)
Innovation and Technology Leadership
AvidXchange demonstrates technology leadership through significant R&D investments.
| R&D Investment (2023) | Percentage of Revenue |
|---|---|
| $83.4 million | 17.2% |
- Platform processes 57 million digital transactions annually
- Supports 700,000+ business connections
- AI-powered invoice processing with 99.5% accuracy
Customer-Centric Approach
AvidXchange prioritizes customer satisfaction through comprehensive support strategies.
| Customer Retention Rate | Customer Satisfaction Score |
|---|---|
| 92% | 4.7/5 |
Commitment to Workplace Diversity
AvidXchange maintains a diverse workforce across multiple dimensions.
| Total Employees | Women in Leadership | Minority Representation |
|---|---|---|
| 1,850 | 38% | 45% |
Sustainable Business Practices
Environmental responsibility integrated into corporate strategy.
- Carbon neutrality goal by 2030
- Reduced paper consumption by 67% through digital solutions
- Energy-efficient cloud infrastructure
Financial Performance Commitment
| Annual Revenue (2023) | Net Income | Market Capitalization |
|---|---|---|
| $484.6 million | $-42.3 million | $2.1 billion |
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