- **Record Q4 Growth**: $115M revenue (+11% YoY), 75% non-GAAP gross margin (vs. 71.5% prior), and 23% EBITDA margin.
- **Share Buyback Strength**: $50M repurchased in 2024, signaling confidence in long-term value.
- **Game-Changing Products**: AvidPay 2.0 cuts check fraud by 90%; Payment Accelerator 2.0 onboards suppliers in <24hrs, doubling volume YoY.
- **Partnership Momentum**: AppFolio engagement +100%, M3 close rates +400%, positioning 2025 for accelerated growth.


**【CEO Summary Section】**
- **Q4 2024 Financial Highlights**: Revenue of $115 million (+11% YoY), non-GAAP gross margin of 75% (up 350bps), and adjusted EBITDA margin of 23%. Transaction yield rose 6% to $5.80 per transaction.
- **Share Repurchase**: $50 million in shares repurchased in 2024, exceeding the $100 million program midpoint.
- **2025 Operating Priorities**: 
  1. **ERP Integrations & Partnerships**: Momentum with AppFolio (19k target customers, doubling engagement) and M3 (1k target, 4x close rate growth).
  2. **Product Innovation**: AvidPay 2.0 enables real-time payment customization and fraud reduction; Payment Accelerator 2.0 onboards suppliers in <24hrs, with 3-month volume doubling.
  3. **Scale & Expansion**: Targeting 8,500 buyer customers and 1.4M suppliers with enhanced payment solutions.
  4. **Customer Experience**: AI-driven automation reducing manual processes by 55%.
- **Gross Margin Expansion**: 10%+ improvement since IPO, driven by AI/automation and ERP integrations.

**【Product & Market Updates】**
- **AvidPay 2.0**: Targets converting 55% paper checks to e-payments, with strategic fintech partnerships in pipeline.
- **Payment Accelerator 2.0**: 3-month volume up 100%, aiming for revenue parity with v1.0 in 2025.
- **Vertical Growth**: Real estate, financial services, and media verticals show 2%+ top-of-funnel growth, despite macro challenges.
- **Customer Metrics**: Buyer logo growth of 6% (vs. 8.1% in 2023), with ERP channel quality improving.


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