AvidXchange Holdings, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash flows from operating activities
Net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization expense
Amortization of deferred financing costs
Debt extinguishment costs
Provision for doubtful accounts
Stock-based compensation
Accrued interest
Impairment and write-off on intangible and right-of-use assets
Loss on fixed asset disposal
Loss on ROU asset abandonment
Accretion of investments held to maturity
Value of donated common stock
Deferred income taxes
Fair value adjustment of contingent consideration
Amortization of investments held to maturity
Noncash expense on contract modification - related party
Fair value adjustment to derivative instrument

Changes in operating assets and liabilities
Accounts receivable
Prepaid expenses and other current assets
Other noncurrent assets
Deferred customer origination costs
Accounts payable
Deferred revenue
Accrued expenses and other liabilities
Operating lease liabilities
Total adjustments
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchases of marketable securities held to maturity
Proceeds from maturity of marketable securities held to maturity
Proceeds from maturity of short-term investments held to maturity
Purchases of equipment
Purchases of real estate
Purchases of intangible assets
Proceeds from sales of property and equipment
Acquisition of business, net of cash acquired
Contingent consideration and deferred obligation payments near acquisition date
Supplier advances, net
Net cash (used in) provided by investing activities

Cash flows from financing activities
Proceeds from issuance of common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs, including exercise of overallotment option
Proceeds from the issuance of long-term debt
Repayments of long-term debt
Principal payments on land promissory note
Principal payments on finance leases
Proceeds from issuance of preferred and common stock
Proceeds from issuance of common stock
Proceeds from issuance of shares under ESPP
Convertible preferred stock redeemed
Payment of debt issuance costs
Repurchases of common stock
Payment on earn-out agreement
Payment of acquisition-related liability
Payment service obligations
Net cash (used in) provided by financing activities

Net (decrease) increase in cash, cash equivalents, and restricted funds held for customers
Cash, cash equivalents, and restricted funds held for customers
Cash, cash equivalents, and restricted funds held for customers, beginning of year
Cash, cash equivalents, and restricted funds held for customers, end of year
Supplementary information of noncash investing and financing activities
Property and equipment and intangible asset purchases in accounts payable and accrued expenses
Right-of-use assets obtained in exchange for new finance lease obligations
Right-of-use assets obtained in exchange for new operating lease obligations
Purchase of real estate in exchange for promissory note
Common stock issued on conversion of convertible preferred stock and convertible common stock liability
Common stock issued in business combination
Common stock issued as contingent consideration
Initial fair value of contingent consideration and deferred payment obligation at acquisition date
Options issued in connection with bonus compensation
Interest paid on notes payable
Interest paid on finance leases
Cash paid for income taxes

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