'We're doing what we said we'd do': Xero CEO Sukhinder Singh Cassidy on full-year result

Sukhinder Singh Cassidy says Xero delivered a strong and profitable result. (Image: Xero)

Thu, 23 May 2024

Cloud-based accounting company Xero says it has reached its rule-of-40 goal. The Australian Stock Exchange-listed firm said on Thursday it had achieved the aim of combined revenue growth rate and profit margin equal to or more than 40% set by chief executive Sukhinder Singh Cassidy. The Wellington-founded firm reported its result for the full year to March 31 and said revenue rose 22% to $1.7 billion, bang on analysts' expectations. Free cash flow increased to $342.1 million with a free cash flow margin of 20.0%, improving fr...

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