AvidXchange Holdings Expects FY23 Revenue $374.5M-$375.5M (Prior $368.0M-$370.0M) Vs $370.33M Est
Portfolio Pulse from Benzinga Newsdesk
AvidXchange Holdings has updated its Full Year 2023 revenue and adjusted EBITDA guidance. The company now expects revenue to be between $374.5M and $375.5M, up from the previous guidance of $368.0M-$370.0M. Adjusted EBITDA is also expected to increase to $22.0M-$23.0M from the previous $7.0M-$8.0M.
November 08, 2023 | 11:55 am
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POSITIVE IMPACT
AvidXchange has raised its FY23 revenue and adjusted EBITDA guidance. This could potentially lead to a positive reaction in the market.
Companies often see their stock prices increase when they raise their financial guidance, as it signals stronger than expected performance. In this case, AvidXchange has raised both its revenue and EBITDA guidance for FY23, which could lead to increased investor confidence and a potential rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100