Exhibit 99.1 AvidXchange Announces Fourth Quarter 2023 Financial Results • Transaction growth and solid yield expansion drive year over year fourth quarter 2023 revenue growth • Yield expansion coupled with lower unit cost fuel year over year fourth quarter 2023 gross margin expansion • The aforementioned combination & opex discipline materially reduce year over year fourth quarter 2023 loss from operations • Exiting 2023 with a strong balance sheet and a net cash position • 2024 business outlook reflects a ...