AvidXchange Holdings, Inc. (NASDAQ:AVDX) Q3 2024 Earnings Conference Call November 6, 2024 10:00 AM ET
Company Participants
Mike Praeger - Co-Founder & Chief Executive Officer
Joel Wilhite - Chief Financial Officer
Subhaash Kumar - Head, Investor Relations
Conference Call Participants
Dave Koning - Baird
Will Nance - Goldman Sachs
Ramsey El-Assal - Barclays
Sanjay Sakhrani - KBW
Andrew Bauch - Wells Fargo
Bryan Keane - Deutsche Bank
Craig Maurer - FT Partners
Jamie Friedman - Susquehanna
Darrin Peller - Wolfe Research
Dominick Gabriele - Compass Point
James Faucette - Morgan Stanley
Tien-Tsin Huang - JPMorgan
Rufus Hone - BMO Capital Markets
Alex Markgraff - KeyBanc Capital Markets
Timothy Chiodo - UBS
Operator
Good morning, everyone, and thank you for joining us for the AvidXchange Holdings, Inc. Third Quarter 2024 Earnings Call. Joining us on the call today is Mike Praeger, AvidXchange 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 discuss 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 a discussion of non-GAAP financial measures as that term is defined in Regulation G, non-GAAP financial measures should not be considered 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 Praeger
Thank you, everyone, for joining us today. Joel Wilhite and I are excited to discuss AvidXchange's third quarter 2024 results. Our third quarter results were all around solid across all the key metrics, including revenue growth, margin expansion, positive GAAP net income, free cash flow and a solid balance sheet. In addition, we made good on our commitment to return cash to shareholders as part of our $100 million share repurchase program. Joel will talk more about the quarterly financial results in a moment, but one of the highlights of the quarter was the underlying trend data we are seeing.