AvidXchange Updates 2024 Business Outlook Amid Macro Choppiness; Cuts FY24 Revenue Forecast From $442M - $448M To $436M - $439M, Est $447.456M
Portfolio Pulse from Benzinga Newsdesk
AvidXchange has updated its 2024 business outlook due to macroeconomic challenges, reducing its FY24 revenue forecast from $442M-$448M to $436M-$439M, below the estimated $447.456M.
July 31, 2024 | 12:07 pm
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AvidXchange has lowered its FY24 revenue forecast to $436M-$439M, down from the previous $442M-$448M, citing macroeconomic challenges. The new forecast is below the estimated $447.456M.
The reduction in revenue forecast indicates potential financial struggles due to macroeconomic conditions, which is likely to negatively impact investor sentiment and short-term stock price.
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