BUZZ-AvidXchange slides after downbeat annual forecasts

Shares of fintech firm AvidXchange AVDX.O plunge 15.4% to $7.74 premarket

AVDX forecasts FY 2025 adjusted EPS between 25 cents and 27 cents, compared with Wall Street expectations of 34 cents, according to estimates compiled by LSEG

Co expects annual revenue between $453 million and $460 million, also beneath Street expectations of $483.7 million

AVDX CEO says choppy macro backdrop is expected to impact revenue growth in 2025

Still, AVDX expects to see continued margin expansion this year

AVDX provides accounts payable automation software and payment offerings to middle market businesses

Meanwhile, Q4 adjusted EPS of 8 cents topped analysts' estimate of 7 cents

AVDX stock down 11.5% YTD