Corpay invests $500M alongside TPG to take AvidXchange private; Q1 rev $1.01B

CORPAY, INC.

Corpay to invest $500M for 33% stake in AvidXchange at $10/share, valuing AvidXchange at $2.2B.
Transaction expected to close Q4 2025, subject to approvals; Corpay option to acquire 100% in 2028.
Q1 revenues $1,005.7M (+8% YoY); GAAP EPS $3.40 (+9% YoY); adjusted EPS $4.51 (+10% YoY).
Full-year 2025 guidance: rev $4,380M-$4,460M; adj EPS $20.80-$21.20.
Organic revenue growth 9% in Q1; Corporate Payments segment grew 19%.

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