Is AvidXchange profitable in 2026?

AvidXchange is not reporting standalone financials in 2026 since going private. As of FY2024, before the buyout, non GAAP adjusted EBITDA margin was 19.3 percent, up from 8.0 percent in 2023, per the company's February 26, 2025 earnings release, but no post buyout profitability figures have been published.

Who owns AvidXchange now?

As of October 15, 2025, AvidXchange is privately owned by TPG Capital, which took a majority stake, and Corpay Inc, which invested about 550 million dollars for a 34 percent minority stake with an option to buy the remaining shares later, per Corpay's own press release.

Is AvidXchange still on the stock market?

No. AvidXchange traded as AVDX on Nasdaq but was taken private on October 15, 2025 when TPG and Corpay closed a 2.2 billion dollar acquisition at 10 dollars per share, according to Corpay's October 15, 2025 announcement.

Could AI replace AvidXchange's software?

AvidXchange's invoice capture, OCR, and coding workflows overlap directly with AI native rivals like HighRadius, which claims 30 plus AI agents and 90 percent touchless processing as a 2026 Gartner Challenger, and Stampli. AvidXchange's licensed payment rails and supplier network are harder to replace than its software layer.

Who is AvidXchange's biggest competitor?

AvidXchange competes most directly with BILL, Tipalti, Stampli, and HighRadius in mid market AP automation. HighRadius was named a Gartner 2026 Challenger for AP Applications touting 30 plus AI agents, while BILL Holdings itself was reportedly exploring a sale process as of February 2026.

Is AvidXchange growing or shrinking?

Growth has decelerated sharply: revenue rose 2.2 percent year over year in Q1 2025 to 107.9 million dollars and 5.2 percent in Q2 2025 to 110.6 million dollars, per SEC filings, down from stronger growth in 2024, and the company suspended forward guidance once the TPG and Corpay acquisition was announced.

Payments companies · acquisition pending · United States

AvidXchange

avidxchange.com ↗

AP automation and B2B payments platform running invoice-to-pay workflows for mid-market companies.

Losing its protection

Assessed 21 July 2026 · Evidence as of 21 July 2026

The structural protection is eroding.

On the recordSince 21 July 2026 · Checkable from within several quarters of Oct 2025 close · Every call on the record Checkpoint: Corpay decision on exercising its buyout option for the remaining 66% stake

The call

The payment rails and licenses still work, but growth has stalled near flat and AvidXchange now answers to Corpay, not the public market.

AvidXchange helps companies handle invoices and payments by capturing them, reading them with software, and routing money through its own payment network. The company has real advantages: it holds government licenses to move money and has built a network of 1.3 to 1.5 million suppliers, which takes years to assemble. However, newer competitors like HighRadius and Stampli are using artificial intelligence to do the invoice reading and approval work faster and with less human help, and AvidXchange's own growth has dropped sharply from 18% to between 2% and 5%. The company is currently owned partly by TPG and partly by Corpay, which has an option to buy the rest, and this confusion about ownership combined with slowing growth means the picture could change quickly if partnerships with other software companies start bringing in more customers over the next year or two.

Why

AI pressure: HighRadius, Stampli, Rossum. AI-native rivals ship faster invoice capture and touchless coding, while AvidXchange's UI reads as dated to reviewers. Could AI do the core job? Only partly.

Bigger players: Corpay. Corpay owns 34% with an option to buy the rest, so AvidXchange could simply become a Corpay division, not stay independent. Could a giant copy it? Probably.

What protects it. US money-transmitter licenses and a supplier network of 1.3 to 1.5 million businesses that took years to build.

What would change this call

AvidXchange core revenue growth (ex-float) for next 2-4 quarters via Corpay (NYSE:CPAY) filings. Shows whether embedded partnerships reaccelerate growth or decline continues.
Corpay exercising its option to buy the remaining ~66% of AvidXchange. Confirms AvidXchange hit revenue/profit targets and triggers new ownership terms.
AvidXchange headcount trend (1,774 to 1,691 Jan-July 2026) continuing to fall. Indicates cost cutting under demand pressure rather than growth-driven hiring.

Key numbers

Q2 2025 revenue $110.6M, up 5.2% YoY (2025-06-30)
2024 adjusted EBITDA margin 19.3%, up from 8.0% (2024-12-31)
Headcount down to 1,578, a 6.0% drop since 2023 (2025-12-31)

Named risks

Corpay may exercise its option to acquire remaining stake, triggering a second ownership restructuring. Severity: high
Financial reporting opacity since going private makes performance harder to verify independently. Severity: medium
Core invoice capture and OCR workflow commoditizing under AI native rivals like HighRadius and Stampli. Severity: high
Multiple independent trackers show continuing headcount declines through mid 2026. Severity: medium
Revenue growth has decelerated to low single digits, down from stronger 2024 levels. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
HighRadius	gaining on	Named Gartner 2026 Challenger for AP Applications, claims 30 plus AI agents and 90 percent touchless processing
Stampli	contesting	Reviewers flag AvidXchange UI and configuration complexity as dated versus Stampli, per 2026 review sites
Rossum	contesting	Named Challenger in Gartner 2025 Magic Quadrant for Intelligent Document Processing
BILL Holdings	contesting	BILL reportedly explored a sale process amid activist pressure as of February 2026, signaling category consolidation

Questions people ask

Is AvidXchange profitable in 2026?: AvidXchange is not reporting standalone financials in 2026 since going private. As of FY2024, before the buyout, non GAAP adjusted EBITDA margin was 19.3 percent, up from 8.0 percent in 2023, per the company's February 26, 2025 earnings release, but no post buyout profitability figures have been published.
Who owns AvidXchange now?: As of October 15, 2025, AvidXchange is privately owned by TPG Capital, which took a majority stake, and Corpay Inc, which invested about 550 million dollars for a 34 percent minority stake with an option to buy the remaining shares later, per Corpay's own press release.
Is AvidXchange still on the stock market?: No. AvidXchange traded as AVDX on Nasdaq but was taken private on October 15, 2025 when TPG and Corpay closed a 2.2 billion dollar acquisition at 10 dollars per share, according to Corpay's October 15, 2025 announcement.
Could AI replace AvidXchange's software?: AvidXchange's invoice capture, OCR, and coding workflows overlap directly with AI native rivals like HighRadius, which claims 30 plus AI agents and 90 percent touchless processing as a 2026 Gartner Challenger, and Stampli. AvidXchange's licensed payment rails and supplier network are harder to replace than its software layer.
Who is AvidXchange's biggest competitor?: AvidXchange competes most directly with BILL, Tipalti, Stampli, and HighRadius in mid market AP automation. HighRadius was named a Gartner 2026 Challenger for AP Applications touting 30 plus AI agents, while BILL Holdings itself was reportedly exploring a sale process as of February 2026.
Is AvidXchange growing or shrinking?: Growth has decelerated sharply: revenue rose 2.2 percent year over year in Q1 2025 to 107.9 million dollars and 5.2 percent in Q2 2025 to 110.6 million dollars, per SEC filings, down from stronger growth in 2024, and the company suspended forward guidance once the TPG and Corpay acquisition was announced.

Timeline

2026-06-09Completed Workday Marketplace integration via partner Invisors
2026-06-04Wade Fairey appointed Chief Operating Officer
2026-03-03Launched embedded AP as a Service for AppFolio property management platform
2026-02-05Enhanced ERP integrations for Dynamics GP, NetSuite, Sage Intacct
2025-10-15TPG and Corpay closed take private acquisition at 10 dollars per share, 2.2 billion dollar valuation
2025-08-06Q2 2025 revenue reported at 110.6 million dollars, up 5.2 percent year over year
2025-05-07Q1 2025 revenue reported at 107.9 million dollars, up 2.2 percent year over year
2025-05-06Agreed to be acquired by TPG in partnership with Corpay for 2.2 billion dollars
2025-04-02Launched new AI agents for invoice automation with exception pattern learning
2025-02-26Reported FY2024 non GAAP gross margin of 73.6 percent and adjusted EBITDA margin of 19.3 percent

Revision history

21 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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