AvidXchange Holdings, Inc. (NASDAQ:AVDX) Q2 2023 Earnings Conference Call August 2, 2023 10:00 AM ET

Company Participants

Mike Praeger - Co-Founder & CEO

Joel Wilhite - CFO

Subhaash Kumar - Head, IR

Conference Call Participants

Jamie Friedman - Susquehanna

Dave Koning - Baird

Will Nance - Goldman Sachs

Ramsey El-Assal - Barclays

Craig Maurer - FT Partners

James Fawcett - Morgan Stanley

Tien-Tsin Huang - J.P. Morgan

Darrin Peller - Wolfe Research

Alex Markgraff - KeyBanc Capital Markets

Brent Bracelin - Piper Sandler

Bryan Keane - Deutsche Bank

Timothy Chiodo - Credit Suisse

Operator

Good morning, everyone, and thank you for joining us for the AvidXchange Holdings, Inc.'s Second Quarter 2023 Earnings Call.

Joining us on the call today is Mike Praeger, AvidXchange's Co-Founder and Chief Executive Officer; Joel Wilhite, AvidXchange's Chief Financial Officer; and Subhaash Kumar, AvidXchange's Head of Investor Relations.

Before we begin today's call, management has asked me to relay the forward-looking statements disclaimer that is included at the end of today's press release. This disclaimer emphasizes the major uncertainties and risks inherent in the forward-looking statements that the company will make this afternoon.

Please keep these uncertainties and risks in mind as the company discusses future strategic initiatives, potential market opportunities, operational outlook, and financial guidance during today's call. Also, please note that the company undertakes no duty to update or revise forward-looking statements.

Today's call will also include the discussion of non-GAAP financial measures as that term is defined in Regulation G. Non-GAAP financial measures should not be considered in isolation from or as a substitute for financial information presented in compliance with GAAP. Accordingly, at the end of today's press release, the company has provided a reconciliation of these non-GAAP financial measures to financial results prepared in accordance with GAAP.

With that, I will now turn the call over to Mike Praeger. Mike, over to you.

Mike Praeger

Thank you everyone for joining us today. Joe Wilhite and I are excited to discuss AvidXchange's second quarter 2023 results.

But before I do that, I just wanted to thank all of those who participated in our recent Investor Day event on June 1 held both in-person and online, and especially for those of you that visit us in Charlotte, North Carolina, for our Investor Day event. You experienced firsthand our performance-based AvidXchange culture and how we have successfully transitioned to be back in the office three plus days a week across our multi-office footprint. We are already seeing an impact on productivity, collaboration, and teammate development.