AvidXchange Holdings, Inc. (NASDAQ:AVDX) Q2 2022 Earnings Conference Call August 3, 2022 6:00 PM ET
Company Participants
Mike Praeger - Co-Founder, President & Chief Executive Officer
Joel Wilhite - Senior Vice President & Chief Financial Officer
Conference Call Participants
Dave Koning - Baird
Ramsey El-Assal - Barclays
Andrew Bauch - SMBC Nikko Securities
Will Nance - Goldman Sachs
Bryan Keane - Deutsche Bank
Brad Sills - Bank of America
Brent Bracelin - Piper Sandler
Sandy Beatty - Morgan Stanley
Darrin Peller - Wolfe Research
Tim Chiodo - Credit Suisse
Josh Beck - KeyBanc Capital Markets
Operator
Good evening, everyone, and thank you for joining us for the AvidXchange Holdings, Inc. Second Quarter 2022 Earnings Call. Joining us on the call today is Mike Praeger, AvidXchange Co-Founder and Chief Executive Officer; Joel Wilhite, AvidXchange Chief Financial Officer; and Subhaash Kumar, AvidXchange 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 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 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 form -- 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 reconciliation of these non-GAAP financial measures to financial results in accordance with GAAP.
With that, I would now like to turn the conference over to Mike Praeger. Please go ahead.
Mike Praeger
Thank you, everyone, for joining us today. Joe Wilhite and I are excited to discuss AvidXchange's second quarter 2022 results and the continued momentum we are experiencing across our business, driven by our middle market focus in the four growth years of our AvidXchange business flywheel that drives our business.
Overall, we once again delivered on another standout quarter of both operational and financial performance. Results came in better than our expectations. This is now the fourth consecutive quarter of over 20% organic revenue growth. These positive results reflect the middle market steady demand for AvidXchange's value proposition of industry-leading and differentiated business-to-business accounts payable automation software and payment solutions that are purpose-built for middle market companies.