XRO
10/09/2015 15:54
GENERAL
NOT PRICE SENSITIVE
REL: 1554 HRS Xero Limited
GENERAL: XRO: RadioLIVE Interview
XERO LIMITED (XRO)
MARKET RELEASE
10 September 2015
In a recent RadioLIVE radio interview (6 September 2015), comments were made
by Xero CEO, Rod Drury, in relation to certain aspects of Xero's financial
performance. A number of these comments have been published in a recent
online article. Xero wishes to clarify some of these comments.
Parts of the interview, including a discussion regarding Xero's cash outflow
for the financial year ending 31 March 2016, referenced Xero's "loss" rather
than cash burn.
Xero confirms that it has not at this point provided any guidance to the
market in relation to Xero's forecasted loss for the financial year ending 31
March 2016.
Xero has, however, provided the following statement to the market in relation
to Xero's cash outflow for the financial year ending 31 March 2016:
"Xero is focused on containing its full financial year cash outflow to
similar levels to Xero's prior financial year."
Xero has not, and does not intend at this point, to provide guidance to the
market in relation to Xero's expected break-even point.
Xero reiterates that it is well positioned to continue to invest for growth,
with NZ$243.5 million of available cash as at 30 June 2015.
The relevant radio interview can be accessed through this link:
http://www.radiolive.co.nz/Rod-Drury-CEO-co-founder-Xero/tabid/506/articleID/
96202/Default.aspx
-ENDS-
For more information contact:
Rod Drury
Xero CEO
+64 27 6000 007
[email protected]
About Xero
Xero is beautiful, easy-to-use online accounting software for small
businesses and their advisors. The company has over 540,000 subscribers in
more than 180 countries. Xero seamlessly integrates with over 400 third-party
tools, and was ranked No. 1 by Forbes as the World's Most Innovative Growth
Company in 2014 and 2015.
End CA:00269952 For:XRO Type:GENERAL Time:2015-09-10 15:54:04
