Xero 1Q cash burn accelerates on rising staff, marketing costs

Sun, 02 Aug 2015

By Paul McBeth Aug. 3 (BusinessDesk) - Xero, the cloud-based accounting software developer, burned through cash at a faster pace in the June quarter as it ramped up spending on an expanding workforce and more than doubled expenditure on marketing and advertising. The Wellington-based company's operating cash outflow more than doubled to $17 million in the three months ended June 30 from the same quarter a year earlier, and widened from the $12.2 million outflow reported in the March period. Customer receipts jumped 72 percent to $40.5 mil...

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