AVDX - AvidXchange Holdings, Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
|
PRICE TARGET:
$11.86
DETAILS
HIGH:
$16.00
LOW:
$9.00
MEDIAN:
$11.50
CONSENSUS:
$11.86
UPSIDE:
18.60%
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 438.9 | 380.7 | 316.4 | 248.4 | 185.9 | 149.6 |
| Cost of Revenue | 121.8 | 121.3 | 117.9 | 100.1 | 83.8 | 71.1 |
| Gross Profit | 317.2 | 259.4 | 198.5 | 148.3 | 102.2 | 78.5 |
| Operating Expenses | ||||||
| R&D Expenses | 101.1 | 97.6 | 83.9 | 65.1 | 44.5 | 33.6 |
| SG&A Expenses | 182.1 | 179.4 | 169.1 | 159.8 | 104.3 | 91.7 |
| Other Expenses | 36.6 | 35.9 | 32.8 | 30.7 | 27.5 | 22.3 |
| Operating Expenses | 319.7 | 312.9 | 285.9 | 255.6 | 176.3 | 147.6 |
| Operating Income | ||||||
| Operating Income | (2.6) | (53.5) | (87.4) | (107.3) | (74.1) | (69.2) |
| Interest Expense | 11.3 | 13.5 | 20.7 | 20.1 | 20.1 | 17.3 |
| Interest Income | 23.0 | 20.9 | 7.2 | 0.7 | 1.7 | 1.4 |
| Profitability | ||||||
| EBITDA | 34.0 | 3.3 | (47.4) | (153.5) | (53.4) | (53.9) |
| EBIT | (2.3) | (32.6) | (80.2) | (184.2) | (80.9) | (76.2) |
| Income Before Tax | 9.1 | (46.1) | (101.0) | (204.3) | (101.0) | (93.5) |
| Income Tax Expense | 0.9 | 1.2 | 0.3 | (4.7) | 0.2 | 0.1 |
| Net Income | 8.1 | (47.3) | (101.3) | (199.6) | (101.2) | (93.5) |
| Per Share Data | ||||||
| EPS (Basic) | 0.04 | -0.23 | -0.51 | -1.14 | -0.85 | -2.12 |
| EPS (Diluted) | 0.04 | -0.23 | -0.51 | -1.14 | -0.85 | -2.12 |
| Shares Outstanding | 206.1 | 201.9 | 198.0 | 196.8 | 196.2 | 44.1 |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash & Cash Equivalents | 355.6 | 407.0 | 350.6 | 562.8 | 252.5 | 225.3 |
| Short-Term Investments | 33.7 | 44.6 | 111.0 | 0 | 0 | 0 |
| Net Receivables | 65.8 | 56.4 | 49.7 | 42.5 | 33.6 | 24.0 |
| Inventory | 0 | 0 | 1,283.8 | (11.5) | 137.6 | 51.7 |
| Other Current Assets | 1,265.7 | 1,590.7 | 1,296.4 | 1,253.9 | (0.0) | 0 |
| Total Current Assets | 1,720.7 | 2,098.8 | 1,807.6 | 1,857.9 | 432.3 | 308.3 |
| Non-Current Assets | ||||||
| Property, Plant & Equipment | 97.6 | 102.6 | 106.2 | 109.5 | 90.0 | 82.1 |
| Goodwill | 165.9 | 165.9 | 165.9 | 165.9 | 105.7 | 89.5 |
| Intangible Assets | 71.1 | 84.8 | 98.7 | 100.5 | 72.4 | 70.3 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 34.4 | 31.6 | 33.5 | 32.5 | 26.0 | 23.6 |
| Total Non-Current Assets | 369.0 | 385.0 | 404.4 | 408.4 | 294.2 | 265.5 |
| Total Assets | 2,089.7 | 2,483.7 | 2,212.0 | 2,266.3 | 726.5 | 573.9 |
| Current Liabilities | ||||||
| Account Payables | 15.5 | 16.8 | 13.5 | 17.1 | 25.4 | 10.9 |
| Short-Term Debt | 4.8 | 6.4 | 6.4 | 4.8 | 1 | 1 |
| Deferred Revenue | 14.0 | 12.9 | 12.1 | 9.5 | 6.3 | 3.5 |
| Other Current Liabilities | 1,297.2 | 1,578.7 | 1,283.8 | 1,243.0 | 137.6 | 51.7 |
| Total Current Liabilities | 1,332.8 | 1,672.9 | 1,391.2 | 1,332.3 | 213.1 | 99.7 |
| Non-Current Liabilities | ||||||
| Long-Term Debt | 4.3 | 69.8 | 75.9 | 119.9 | 98.4 | 93.9 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.0 | 4.2 | 3.4 | 6.1 | 14.9 | 8.8 |
| Total Non-Current Liabilities | 85.1 | 154.4 | 163.4 | 210.9 | 191.9 | 165.1 |
| Total Liabilities | 1,417.9 | 1,827.3 | 1,554.6 | 1,543.2 | 405.0 | 264.8 |
| Stockholders' Equity | ||||||
| Common Stock | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.0 |
| Retained Earnings | (1,014.0) | (1,022.2) | (974.8) | (871.9) | (672.3) | (423.6) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | (2,266.3) | 0 | 0 |
| Total Stockholders' Equity | 671.8 | 656.4 | 657.4 | 723.1 | 321.5 | 309.1 |
| Total Liabilities & Equity | 2,089.7 | 2,483.7 | 2,212.0 | 2,266.3 | 726.5 | 573.9 |
| Debt Metrics | ||||||
| Total Debt | 75.4 | 143.7 | 150.8 | 191.0 | 178.6 | 157.0 |
| Net Debt | (280.2) | (263.2) | (199.7) | (371.8) | (73.9) | (68.2) |
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | 8.1 | (47.3) | (101.3) | (199.6) | (101.2) | (93.5) |
| Depreciation & Amortization | 36.3 | 35.9 | 32.8 | 30.7 | 27.5 | 22.3 |
| Stock-Based Compensation | 47.2 | 40.9 | 31.8 | 21.4 | 1.6 | 1.4 |
| Change in Working Capital | (24.7) | (22.2) | (3.2) | (2.4) | 15.6 | (0.4) |
| Other Non-Cash Items | 4.8 | 0.5 | 10.9 | 86.0 | 12.2 | 8.4 |
| Operating Cash Flow | 71.9 | 8.5 | (28.7) | (68.7) | (44.1) | (61.8) |
| Investing Activities | ||||||
| Capital Expenditure | (19.6) | (18.3) | (27.8) | (18.3) | (12.0) | (9.3) |
| Acquisitions | 0 | 0 | 0 | (46.1) | (19.8) | (105.8) |
| Purchases of Investments | (120.2) | (274.0) | (385.0) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 135.3 | 345.7 | 276.1 | 0 | 0 | 0 |
| Other Investing Activities | (26.4) | (1.4) | (3.7) | (19.7) | (4.7) | (1.8) |
| Investing Cash Flow | (11.3) | 51.9 | (140.3) | (84.1) | (36.6) | (116.9) |
| Financing Activities | ||||||
| Net Debt Issuance | (68.5) | (6.9) | (45.9) | 1.3 | (45.1) | 22.5 |
| Stock Repurchased | (50.1) | 0 | 0 | (169) | (148.8) | (11.2) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (329.9) | 296.2 | 42.7 | 1,104.7 | 387.6 | 36.4 |
| Financing Cash Flow | (440.3) | 290.8 | (1.7) | 1,567.9 | 193.8 | 308.3 |
| Cash Position | ||||||
| Net Change in Cash | (379.6) | 351.2 | (170.8) | 1,415.1 | 113.1 | 129.6 |
| Cash at Beginning | 1,985.6 | 1,634.4 | 1,805.2 | 390.1 | 277.0 | 147.4 |
| Cash at End | 1,606.0 | 1,985.6 | 1,634.4 | 1,805.2 | 390.1 | 277.0 |
| Free Cash Flow | 52.3 | (9.9) | (56.5) | (87.0) | (56.2) | (71.0) |
| Key Metrics | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 438.9 | 380.7 | 316.4 | 248.4 | 185.9 | 149.6 |
| Gross Profit | 317.2 | 259.4 | 198.5 | 148.3 | 102.2 | 78.5 |
| Operating Income | (2.6) | (53.5) | (87.4) | (107.3) | (74.1) | (69.2) |
| Net Income | 8.1 | (47.3) | (101.3) | (199.6) | (101.2) | (93.5) |
| EPS (Diluted) | 0.04 | -0.23 | -0.51 | -1.14 | -0.85 | -2.12 |
| Balance Sheet | ||||||
| Cash & Equivalents | 355.6 | 407.0 | 350.6 | 562.8 | 252.5 | 225.3 |
| Total Assets | 2,089.7 | 2,483.7 | 2,212.0 | 2,266.3 | 726.5 | 573.9 |
| Total Debt | 75.4 | 143.7 | 150.8 | 191.0 | 178.6 | 157.0 |
| Stockholders' Equity | 671.8 | 656.4 | 657.4 | 723.1 | 321.5 | 309.1 |
| Cash Flow | ||||||
| Operating Cash Flow | 71.9 | 8.5 | (28.7) | (68.7) | (44.1) | (61.8) |
| Capital Expenditure | (19.6) | (18.3) | (27.8) | (18.3) | (12.0) | (9.3) |
| Free Cash Flow | 52.3 | (9.9) | (56.5) | (87.0) | (56.2) | (71.0) |