AvidXchange Holdings (AVDX) Company Report

Corpay reported revenues of $1,172.5 million for the third quarter of 2025, marking a 14% increase compared to the third quarter of 2024.
Adjusted net income per diluted share for the third quarter of 2025 increased 14% to $5.70, up from $5.00 in the prior year period.
The company achieved 11% organic revenue growth in the third quarter of 2025 and completed the AvidXchange investment and Alpha Group acquisition.
Corpay updated its fiscal year 2025 financial guidance, projecting total revenues between $4,505 million and $4,525 million and adjusted net income per diluted share between $21.14 and $21.34.

Nov 5, 2025, 9:06 PM

Press Release

AvidXchange Holdings, Inc. Acquisition Completed by TPG and Corpay

AVDX

M&A

Delisting/Listing Issues

Takeover Bid

TPG and Corpay completed the acquisition of AvidXchange Holdings, Inc. on October 15, 2025, for $10.00 per share, valuing the company at approximately $2.2 billion.
As a result of the acquisition, AvidXchange shares have ceased trading and are no longer publicly listed on the Nasdaq Global Select Market, with trading suspended prior to the opening on October 15, 2025.
TPG acquired a majority interest in AvidXchange through TPG Capital, while Corpay acquired a minority interest.
The company became a wholly owned subsidiary of Parent (Arrow Borrower 2025, Inc.) and entered into a new credit agreement, including a $440.0 million Term Loan Facility and a $60.0 million Revolving Credit Facility.

Oct 15, 2025, 1:27 PM

8-K

AvidXchange Announces Strong Q4 2024 Results and Provides 2025 Outlook

AVDX

Earnings

Guidance Update

Share Buyback

AvidXchange reported strong Q4 2024 results, exceeding implied expectations with total revenue of $115.4 million, a 10.9% increase year-over-year, and a non-GAAP diluted EPS of $0.08.
The company achieved a non-GAAP gross margin of 74.9% in Q4 2024, reaching the top end of its 72%-75% target for 2025, and aims for an 80% long-term gross margin.
AvidXchange repurchased an additional $25 million in shares during Q4 2024, bringing the total for the year to $50 million under its $100 million share repurchase program.
For 2025, the company projects total revenue between $453 million and $460 million, non-GAAP adjusted EBITDA between $86 million and $91 million, and non-GAAP diluted EPS between $0.25 and $0.27, reflecting a cautious approach due to the macroeconomic environment.
Strategic priorities for 2025 include building future growth through ERP integrations and partnerships, and delivering key product innovations like AvidPay 2.0 and Payment Accelerator 2.0.

Feb 26, 2025, 3:00 PM

Transcript

AvidXchange Reports Strong Q4 2024 Results and Provides 2025 Guidance

AVDX

Earnings

Guidance Update

Share Buyback

AvidXchange reported strong Fourth Quarter 2024 results, exceeding implied expectations across core financial metrics, with revenue of $115.4 million, an increase of 10.9% year-over-year. The company achieved a Non-GAAP gross margin of 74.9%, up 350 basis points from Q4 2023, reaching the top end of its 2025 target ahead of schedule. Non-GAAP diluted earnings per share for the quarter was $0.08, a 60% increase compared to the prior year.
The company repurchased an additional $25 million worth of shares during Q4 2024, bringing the total shares repurchased in 2024 to $50 million, which was the maximum allowed within a calendar year under its $100 million share repurchase program.
For Full Year 2025, AvidXchange expects total revenue to be in the range of $453 million to $460 million, Non-GAAP adjusted EBITDA between $86 million and $91 million, and Non-GAAP diluted earnings per share in the range of $0.25 to $0.27. This guidance anticipates approximately $44 million in interest revenues from customer funds, down from $49.7 million in 2024, and negligible political media revenue compared to $6.6 million in 2024.
Despite continued macroeconomic headwinds impacting middle market customers, AvidXchange demonstrated operating discipline, achieving gross margin expansion of more than four percentage points and EBITDA margin expansion of greater than 10 percentage points in 2024 over 2023. The company aims to achieve over 80% virtual card automation over the next two years, which is expected to contribute to further gross margin expansion towards 80%.