All Updates

All Updates

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Earnings/results
Partnerships
AvidXchange Q3 2023 update: Robust revenue and volume growth; enters partnership with Appfolio
Business Expense Management
Nov 8, 2023
This week:
Funding
EKORE raises EUR 1.3 million (~ USD 1 million) in seed funding to strengthen platform
Digital Twin
Dec 20, 2024
Funding
Culina Health raises USD 7.9 million in Series A funding to expand offerings and expand team
Functional Nutrition
Dec 19, 2024
FDA approval
ViGeneron receives IND clearance for VG801 gene therapy
Cell & Gene Therapy
Dec 19, 2024
Product updates
Reflex Aerospace ships first commercial satellite SIGI
Next-gen Satellites
Dec 19, 2024
Partnerships
Vast partners with SpaceX for two private astronaut missions to ISS
Space Travel and Exploration Tech
Dec 19, 2024
Management news
Carbios appoints Philippe Pouletty as interim CEO amid plant delay
Waste Recovery & Management Tech
Dec 19, 2024
Funding
BlueQubit raises USD 10 million in seed funding to develop quantum platform
Quantum Computing
Dec 19, 2024
FDA approval
Arbor Biotechnologies receives FDA clearance for ABO-101 IND application
Human Gene Editing
Dec 19, 2024
Partnerships
Funding
Personalis partners with Merck and Moderna for cancer therapy development and investment
Precision Medicine
Dec 19, 2024
Partnerships
COTA partners with Guardant Health to develop clinicogenomic data solutions for cancer research
Precision Medicine
Dec 19, 2024
Business Expense Management

Business Expense Management

Nov 8, 2023

AvidXchange Q3 2023 update: Robust revenue and volume growth; enters partnership with Appfolio

Earnings/results
Partnerships

  • In Q3 2023, AvidXchange's total revenue reached USD 98.7 million, marking a 19.7% YoY increase. Adjusted EBITDA also saw a positive shift, reaching USD 11.4 million compared to a negative adjusted EBITDA of USD 3.7 million in Q3 2022.

  • Total transactions processed in Q3 2023 rose 6.4% YoY to 19.2 million, while the total payment volume handled increased 8.4% YoY to USD 19.6 billion. Meanwhile, transaction yield also grew 12.7% YoY. 

  • The company also announced that it is partnering with AppFolio, a property management solutions provider, to enhance AP automation for its 19,000 real estate customers. Through AppFolio's integration with AvidXchange, invoice details and transactions will be recorded in AppFolio's accounting system, and payment data will be transferred to AvidXchange for automated payments. 

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