---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-055050"
form_type: "8-K"
ticker: null
cik: "0001858257"
company_name: "AvidXchange Holdings, Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T13:30:32.334088+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# AvidXchange Q1 revenue up 21.6%, net loss narrows to $1M, adjusted EBITDA $17.7M

## Summary
- Revenue $105.6M (+21.6% YoY); GAAP net loss narrowed to $(1.0)M from $(16.0)M.
- Adjusted EBITDA surged to $17.7M from $0.4M; operating loss halved to $(4.1)M.
- Non-GAAP net income of $11.3M vs prior-year non-GAAP net loss of $(3.4)M.
- Cash and marketable securities $443.6M; updated 2024 outlook reflects sustained strong execution.
- Interest income $13.1M (up 84% YoY); gross margin expanded to 65.5% from 60.0%.

## SEC filing metadata
- accession: 0000950170-24-055050
- form_type: 8-K
- cik: 0001858257
- company_name: AvidXchange Holdings, Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1858257/000095017024055050/0000950170-24-055050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1858257/000095017024055050/avdx-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-055050
- JSON: https://secwatch.observer/filing/0000950170-24-055050.json
- Plain text: https://secwatch.observer/filing/0000950170-24-055050.txt

## Key facts
- Earnings Releases
  AvidXchange Holdings, Inc. reported the first quarter ended March 31, 2024 results: revenue $105.6 million, net income $(1.0) million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $105.6 million
  - Net income: $(1.0) million
  - Result: reported results
  source text: a long runway for growth and profits,” said Michael Praeger, Chief Executive Officer & Co-Founder of AvidXchange. First Quarter 2024 Financial Highlights: • Total revenue was $105.6 million, an increase of 21.6% year-over-year, compared with $86.8 million in the first quarter of 2023. • Revenue included interest income of $13.1 million compared with $7.1 million in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1858257/000095017024055050/0000950170-24-055050-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.