Levi & Korsinsky notifies investors that it has commenced an investigation into AvidXchange Holdings, Inc. (NASDAQ: AVDX) concerning potential violations of the federal securities laws.
AvidXchange conducted its initial public offering ("IPO") on or around October 12, 2021, selling 26.4 million shares priced at $25.00. Then, on July 31, 2024, AvidXchange issued a press release announcing its financial results for the second quarter of 2024. Among other items, AvidXchange 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. Following this news, AvidXchange's stock price dropped over 29% on July 31, 2024.
If you suffered a loss on your AvidXchange securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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