AvidXchange (AVDX) Revenue & Revenue Breakdown
AvidXchange Revenue Highlights
Latest Revenue (Y)
$380.72M
Latest Revenue (Q)
$105.13M
Main Segment (Y)
Payment
AvidXchange Revenue by Period
AvidXchange Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $380.72M | 20.35% |
| 2022-12-31 | $316.35M | 27.35% |
| 2021-12-31 | $248.41M | 33.61% |
| 2020-12-31 | $185.93M | 24.30% |
| 2019-12-31 | $149.58M | - |
AvidXchange generated $380.72M in revenue during NA 2023, up 20.35% compared to the previous quarter, and up 0.00% compared to the same period a year ago.
AvidXchange Revenue by Quarter
| Date | Revenue | Change |
|---|---|---|
| 2024-06-30 | $105.13M | -0.44% |
| 2024-03-31 | $105.60M | 1.47% |
| 2023-12-31 | $104.06M | 5.46% |
| 2023-09-30 | $98.68M | 8.26% |
| 2023-06-30 | $91.15M | 4.99% |
| 2023-03-31 | $86.82M | 0.75% |
| 2022-12-31 | $86.17M | 4.57% |
| 2022-09-30 | $82.41M | 7.64% |
| 2022-06-30 | $76.56M | 7.52% |
| 2022-03-31 | $71.20M | 2.80% |
| 2021-12-31 | $69.27M | 6.27% |
| 2021-09-30 | $65.18M | 10.93% |
| 2021-06-30 | $58.75M | 6.41% |
| 2021-03-31 | $55.21M | 4.45% |
| 2020-12-31 | $52.86M | 11.06% |
| 2020-09-30 | $47.60M | - |
AvidXchange generated $105.13M in revenue during Q2 2024, up -0.44% compared to the previous quarter, and up 121.09% compared to the same period a year ago.
AvidXchange Revenue Breakdown
AvidXchange Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|
| Payment | $265.11M | $213.84M | $157.93M |
| Software | $112.18M | $99.54M | $87.89M |
| Services | $3.42M | $2.97M | $2.59M |
AvidXchange's latest annual revenue breakdown by segment (product or service), as of Dec 23: Payment (69.63%), Software (29.47%), and Services (0.90%).
Quarterly Revenue by Product
| Product/Service | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payment | $74.18M | $75.20M | $74.22M | $68.48M | $63.23M | $59.18M | $59.15M | $56.65M | $51.58M | $46.47M | $45.14M | $42.17M |
| Software | $29.91M | $29.69M | $29.05M | $28.92M | $27.25M | $26.97M | $26.39M | $25.04M | $24.20M | $23.91M | $23.47M | $22.34M |
| Services | $1.03M | $708.00K | $797.00K | $1.28M | $678.00K | $673.00K | $638.00K | $727.00K | $778.00K | $824.00K | $659.00K | $658.00K |
AvidXchange's latest quarterly revenue breakdown by segment (product or service), as of Jun 24: Payment (70.56%), Software (28.45%), and Services (0.98%).
AvidXchange Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| EVTC | EVERTEC | $694.71B | $211.98B |
| FLYW | Flywire | $403.09B | $103.68M |
| CSGS | CSG Systems | $1.17B | $295.13M |
| NTCT | NetScout Systems | $829.46M | $174.56M |
| STER | Sterling Check | $719.64M | $200.53M |
| EVCM | EverCommerce | $675.37M | $177.39M |
| AVDX | AvidXchange | $380.72M | $105.13M |
| IIIV | i3 Verticals | $370.24M | $56.04M |
| SCWX | SecureWorks | $365.88M | $85.65M |
| CCSI | Consensus Cloud Solutions | $362.56M | $87.50M |
| ESMT | EngageSmart | $303.92M | $97.73M |
| RDWR | Radware | $261.29M | $65.08M |
| BASE | Couchbase | $180.04M | $51.33M |
AVDX Revenue FAQ
What is AvidXchange’s yearly revenue?
AvidXchange's yearly revenue for 2023 was $380.72M, representing an increase of 20.35% compared to 2022. The company's yearly revenue for 2022 was $316.35M, representing an increase of 27.35% compared to 2021. AVDX's yearly revenue for 2021 was $248.41M, representing an increase of 33.61% compared to 2020.
What is AvidXchange’s quarterly revenue?
AvidXchange's quarterly revenue for Q2 2024 was $105.13M, a -0.44% decrease from the previous quarter (Q1 2024), and a 15.33% increase year-over-year (Q2 2023). The company's quarterly revenue for Q1 2024 was $105.6M, a 1.47% increase from the previous quarter (Q4 2023), and a 21.63% increase year-over-year (Q1 2023). AVDX's quarterly revenue for Q4 2023 was $104.06M, a 5.46% increase from the previous quarter (Q3 2023), and a 20.76% increase year-over-year (Q4 2022).
What is AvidXchange’s revenue growth rate?
AvidXchange's revenue growth rate for the last 3 years (2021-2023) was 53.26%, and for the last 5 years (2019-2023) was 154.52%.
What are AvidXchange’s revenue streams?
AvidXchange's revenue streams in c 23 are Payment, Software, and Services. Payment generated $265.11M in revenue, accounting 69.63% of the company's total revenue, up 23.98% year-over-year. Software generated $112.18M in revenue, accounting 29.47% of the company's total revenue, up 12.70% year-over-year. Services generated $3.42M in revenue, accounting 0.90% of the company's total revenue, up 15.40% year-over-year.
What is AvidXchange’s main source of revenue?
For the fiscal year ending Dec 23, the largest source of revenue of AvidXchange was Payment. This segment made a revenue of $265.11M, representing 69.63% of the company's total revenue.