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  "documentTitle": "AvidXchange | Results Presentation Deck | 15 slides",
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  "authorName": "AvidXchange",
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  "presentationDate": "2023-08-01 00:00:00",
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      "text": "$(THOUSANDS)",
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      "text": "(1) For the three months ended June 30, 2023, this amount is comprised of response costs, including professional services and legal fees incurred in connection with the cybersecurity incident that was detected in April 2023.",
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      "text": "Reconciliation of Cost of Revenue and Operating Expenses to Non-GAAP Cost of Revenue and Operating Expenses (in thousands)\nThree Months Ended June 30,\n2023\n2022\nCost of revenues (exclusive of depreciation and amortization expense) $ 30,221 $ 28,979\nAdjustment: Stock-based compensation expense (1,344) (1,161)\nNon-GAAP Cost of revenues (exclusive of depreciation and amortization expe $ 28,877 $ 27,818\nOperating expenses\nSales and marketing $ 20,076 $ 20,448\nAdjustment: Stock-based compensation expense (1,421) (1,382)\nNon-GAAP Sales and marketing $ 18,655 $ 19,066\nResearch and development $ 24,740 $ 20,107\nAdjustment: Stock-based compensation expense (3,060) (2,188)\nNon-GAAP Research and development $ 21,680 $ 17,919\nGeneral and administrative $ 27,716 $ 19,974\nAdjustment: Stock-based compensation expense (5,196) (3,527)\nAdjustment: Transaction and acquisition-related costs - (73)\nAdjustment: Non-recurring items not indicative of ongoing operations (1) (3,626) 65\nNon-GAAP General and administrative $ 18,894 $ 16,439\nDepreciation and amortization $ 8,878 $ 8,301\nAdjustment: Amortization of acquired intangibles (3,624) (3,736)\nNon-GAAP Depreciation and amortization $ 5,254 $ 4,565\nTotal operating expenses $ 81,410 $ 68,830\nTotal Non-GAAP operating expenses $ 64,483 $ 57,989",
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