Technology

Xero subscriber growth slows, per-subscriber revenue is up 29%

Jenny Ruth
Thu, 12 May 2022

Xero subscriber growth slows, per-subscriber revenue is up 29%

CEO Steve Vamos said Xero's progress reflects the trust of customers. (Image: Xero)

Jenny Ruth
Thu, 12 May 2022

Xero reported a $9.1 million annual loss as it resumed investing in growth, but subscriber growth slowed to 19% from 23% in the first half and 20% the previous year.The accounting software company's net loss for the year ended March compared with a profit of $19.8m the previous year.Despite the slowdown in subscriber growth, which took total subscribers to 3.3 million, revenue was up 29% at $1.1 billion, or 30% in constant currency terms, as average monthly revenue per customer grew 7% to $31.36.The company said revenue excluding acquisitio...

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Xero subscriber growth slows, per-subscriber revenue is up 29%

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