{ "docId": "019de517-ec90-75c8-a6fc-1e9b6391c2ce", "docSlug": "b34745f362f14fecf68e50a9e3c263ab", "documentTitle": "AvidXchange | Results Presentation Deck | 17 slides", "authorId": "avidxchange", "authorName": "AvidXchange", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-02-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 16, "pageCount": 17, "prevPage": 15, "nextPage": 17, "slideType": "other", "function": "analyze_data", "density": "dense", "nDataPoints": 100, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de517-ec90-75c8-a6fc-1e9b6391c2ce/16", "deckHref": "/decks/019de517-ec90-75c8-a6fc-1e9b6391c2ce", "deckJsonHref": "/decks/019de517-ec90-75c8-a6fc-1e9b6391c2ce.json", "deckAnchorHref": "/decks/019de517-ec90-75c8-a6fc-1e9b6391c2ce#slide-16", "components": [ { "bbox": { "h": 0.14, "w": 0.79, "x": 0.16, "y": 0.75 }, "kind": "source-note", "text": "(1) For the three months ended December 31, 2023, this amount is primarily comprised of $1,880 of restructuring costs, $507 of insurance recoveries related to the cybersecurity incident that was detected in April 2023, and $176 benefit from the adjustment of accruals related to costs incurred in connection with the cybersecurity incident. For the year ended December 31, 2023, this amount is primarily comprised of $3,698 of response costs, including professional services and legal fees, incurred in connection with the cybersecurity incident, net of insurance recoveries and $1,880 of restructuring costs. For the three months ended December 31, 2022, includes $2,777 related to impairment of ROU asset. For the twelve months ended December 31, 2022, includes $1,526 of restructuring costs, a benefit of $308 for a liability release related to the FastPay acquisition that closed in July 2021, and $2,777 of impairment of ROU asset.", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1ae71731-124d-4b0a-a153-557fba8fc9ec", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.69, "w": 0.57, "x": 0.23, "y": 0.11 }, "kind": "table", "text": "Reconciliation of Cost of Revenue and Operating Expenses to Non-GAAP Cost of Revenue and Operating Expenses (in thousands) Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 Cost of revenues (exclusive of depreciation and amortization expense) $ 30,846 $ 31,188 $ 121,307 $ 117,864 Adjustment: Stock-based compensation expense (1,135) (983) (4,687) (4,113) Non-GAAP Cost of revenues (exclusive of depreciation and amortization e $ 29,711 $ 30,205 $ 116,620 $ 113,751 Operating expenses Sales and marketing $ 18,577 $ 19,805 $ 77,523 $ 77,733 Adjustment: Stock-based compensation expense (1,090) (1,257) (4,953) (4,800) Non-GAAP Sales and marketing $ 17,487 $ 18,548 $ 72,570 $ 72,933 Research and development $ 24,939 $ 21,729 $ 97,555 $ 83,905 Adjustment: Stock-based compensation expense (2,845) (2,200) (11,315) (8,953) Non-GAAP Research and development $ 22,094 $ 19,529 $ 86,240 $ 74,952 General and administrative $ 26,579 $ 28.680 $ 101,924 $ 91,384 Adjustment: Stock-based compensation expense (4,605) (3,631) (19,901) (13,972) Adjustment: Transaction and acquisition-related costs (1,708) 7 (1,988) Adjustment: Non-recurring items not indicative of ongoing operations (1) (1,133) (2,659) (5,541) (3,945) Charitable contribution of stock (1,667) (1,473) (1,667) (1,473) Non-GAAP General and administrative $ 19,174 $ 19,209 $ 74,822 $ 70,006 Depreciation and amortization S 9.397 $ Adjustment: Amortization of acquired intangibles (3,623) 8,458 (3,623) $ 35,912 $ 32,842 Non-GAAP Depreciation and amortization S 5.774 $ 4,835 $ (14,493) 21,419 (14,575) $ 18,267 Total operating expenses $ 79,492 $ Total Non-GAAP operating expenses $ 64,529 $ 62,121 78,672 $ $ 312,914 255,051 $ $ 285,864 236,158", "attrs": {}, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4a0021b3-a0c1-465e-940d-a890087a45de", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.44, "x": 0.03, "y": 0.06 }, "kind": "title", "text": "Non-GAAP Reconciliation", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "be321b3f-6743-45c3-8c73-c6a8ec803c38", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.12, "x": 0.03, "y": 0.11 }, "kind": "title", "text": "$(Thousands)", "attrs": {}, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "08a7271d-51af-4702-909d-1f909c7f7fdb", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Table data", "slug": "table-data", "agent": null, "layer": "slide", "matchId": "38b5d9ea-b372-45c0-8252-13feb4e61739", "evidence": "table/data: Reconciliation of Cost of Revenue and Operating Expenses to Non-GAAP Cost of Revenue and Operating Expenses (in thousands) Three Months Ended December 31, Year Ended December 31, 2023 2022 2023 2022 Cost of r", "confidence": 0.9 } ], "frameworks": [], "arcBeats": [ { "to": 17, "from": 11, "beatId": "17caf0d7-63ac-4cb2-92f4-431f269135e4", "arcName": "The Sparkline", "arcSlug": "sparkline", "beatName": "Action", "beatSlug": "aida-action", "evidence": "appendix and additional information", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [ { "to": 17, "from": 10, "name": "So What Cascade", "slug": "41-so-what-cascade", "bestFor": "Data presentations, executive summaries, driving to recommendations", "matchId": "e36bb89d-ea6c-49b8-83bd-a1789c88f125", "evidence": "appendix and additional information", "position": 1, "objective": "provide additional information and context", "structure": "The Data -> So What? 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