XRO
02/10/2012 09:29
FORECAST
REL: 0929 HRS Xero Limited
FORECAST: XRO: Xero continues strong growth
MARKET RELEASE
Xero continues strong growth
2 October 2012
Xero continues to deliver on its high growth strategy, more than doubling
first half year revenue over the same period last year.
Key metrics
* First half operating revenue to 30 September 2012 is expected to exceed
$16.7m. This compares to $7.9m for the corresponding period last year.
* Annualized Monthly Committed Revenue (MCR) at 30 September 2012 is $38.7m,
up from $18.0m at 30 September 2011, or +115% growth.
* Offshore revenue is 58% of Monthly Committed Revenue.
* Grown staff from 148 to 278 in the last year.
* Paying customers are at 111,800 at 30 September 2012, up from 51,300 at the
same date last year, or +118% growth.
* Cash on hand exceeds $30m.
Regional customer breakdown
Paying customers...As at 30 Sept 2012...As at 30 Sept 2011...Year on year
change
New Zealand ... 57,300 ... 30,600 ... +87%
Australia ... 32,500 ... 10,400 ... +213%
United Kingdom ... 15,100 ... 7,300 ... +107%
United States/Global ... 6,900 ... 3,000 ... +130%
Total ... 111,800 ... 51,300 ... +118%
Commentary
Xero has continued its growth agenda for the first six months of FY 2013.
Over the past year 130 new jobs have been created, significantly increasing
the development and support capability in NZ and expanding the organisation
in its key markets of Australia, the United Kingdom and the USA.
Xero's paying customer base has grown an additional 118% to 111,800 as at 30
September 2012. The Australian region has shown particularly strong growth,
with a tripling of the numbers of paying customers, on the back of the
integrated payroll features and significant growth in numbers of accounting
and bookkeeping partners.
ASX secondary listing
As announced at the annual meeting, Xero is proceeding with an application to
list on the ASX. This secondary listing, anticipated for early November, is
aimed at making Xero shares more readily available to Australian parties
including partners and clients.
ENDS
For more information contact:
Rod Drury
Xero CEO
[email protected]
+64 27 6000 007
End CA:00228020 For:XRO Type:FORECAST Time:2012-10-02 09:29:21
