Xero subs, revenue up 23% in first half

Xero subs, revenue up 23% in first half
Chief executive Steve Vamos said Xero will prioritise product development. (Image: supplied)
Jenny Ruth
Xero grew gross margin in its latest first half and subscriber numbers were up 23% but it returned to reporting a bottom-line loss.The accounting software company made a net loss of $5.9 million in the six months ended September, a turnaround from the previous first-half's $34.5m net profit.The year-earlier result reflected the adverse impact on the company's growth caused by the onset of the covid pandemic.Earnings before interest, tax, depreciation and amortisation eased 19% to $98.1m from $120.8m in the previous first-half. Its...

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