Xero has enough cash to reach breakeven, posts 67% jump in full-year revenue, wider loss of $84M

Wed, 11 May 2016

By Jonathan Underhill May 12 (BusinessDesk) - Xero, the cloud-based accounting software firm, said it has sufficient cash reserves to reach breakeven without having to raise more capital, after posting a 67 percent jump in full-year operating revenue and a wider net loss. The Wellington-based company said its net loss was $82.5 million in the 12 months ended March 31, from a loss of $69.5 million a year earlier. Operating revenue rose to $207 million from $121 million, but was swallowed up by a 53 percent increase in operating expenses to...

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