The payments company said this week a narrowed loss on a 26.4-percent increase in revenue. In this week’s earnings webcast, CEO Michael Praeger pointed to the company’s electronics payment penetration, along with its vertical integration and white-label, middle market partnerships, as factor in the performances. The loss dropped to $25.4 million in the most recently ended period from $35.5 million a year ago. Revenue was $82.4 million, up from $65.2 million in last year’s corresponding quarter. Executives noted during the quarter AdvidXchange added integration to Blackbaud’s Raisers Edge and Financial Edge product line and it also introduced cross-border payment services.
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AVIDX EXCEEDS PROJECTIONS Featured
AvidExchange has reported that with the financial results for the third quarter ended September 30, it has achieved five consecutive quarters of exceeding internal projections.
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