Ann: Xero Celebrates 100,000 UK Subscriber Milestone, page-9

Its hard to know what to make of the small bounce we are seeing. Little bit more of a buzz around tech stocks like Hub24 and Atlassian IPO. There have been a few questions asked about the price spike before the CR earlier in the year. Bounce could mean good news on the way.
I think Xero are doing pretty well in UK, not sure what we will see in the US. Exponential growth unlikely due to market dynamics. From what I can gather accountants in the US play a less pivotal role in decision making re accounting software.. Accountants in Australia generally love xero and are pushing their clients to transition to xero resulting in amazing growth.
When you have a great product, good management and a good plan the chance of success is high, but it may take longer than anticipated and longer than an inpatient stock market would like. No such thing as an overnight success.