Why xro needs to take so much debt?

  1. 105 Posts.
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    XRO is quality company. It is probably the only true SAAS company among asx 200. The only thing stopping me from buying it is that I found according to commsec

    Debt to Equity 117.7%

    This is actually higher than afterpay which most people would think the opposite way. Why don't xro do raise capital raising instead of holding debt?
 
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