Press release
Investors who lost money with AvidXchange Holdings, Inc. (NASDAQ: AVDX) shares should contact the Shareholders Foundation in connection with Investigation
An investigation for investors in AvidXchange Holdings, Inc. (NASDAQ: AVDX) shares over potential securities laws violations.
Investors who purchased shares of AvidXchange Holdings, Inc. (NASDAQ: AVDX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of AvidXchange Holdings, Inc. (NASDAQ: AVDX) concerning whether a series of statements by AvidXchange Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Charlotte, NC based AvidXchange Holdings, Inc. provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America.
On or around October 12, 2021, AvidXchange Holdings, Inc conducted its initial public offering ("IPO"), selling 26.4 million shares priced at $25.00.
AvidXchange Holdings, Inc. reported that its annual Total Revenue rose from $316.35 million in 2022 to $380.72 million in 2023, and that its Net Loss declined from $101.28 million in 2022 to $47.32 million in 2023.
Then, on July 31, 2024, AvidXchange Holdings, Inc. announced its financial results for the second quarter of 2024. Among other items, AvidXchange Holdings, Inc. reported revenue of $105.13 million, missing consensus estimates by $1.75 million. The Company also revised its fiscal year 2024 revenue guidance downward to a range of $436 million to $439 million, compared to previous guidance of $442 million to $448 million.
Shares of AvidXchange Holdings, Inc. (NASDAQ: AVDX) declined to $7.38 per share on August 05, 2024.
Those who purchased shares of AvidXchange Holdings, Inc. (NASDAQ: AVDX) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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