Xero hits $100 million in annual revenue

Sun, 15 Jun 2014

By Suze Metherell June 16 (BusinessDesk) - Xero, the cloud-based accounting software firm, continued to boost sales last month, with annualised revenue of $100 million for the first time. Annualised revenue, which Xero recognises on a customer subscription basis, reached $100 million in May, with monthly recurring subscription revenue of $8.6 million, the Wellington-based company said in a statement. That's up from annual revenue of $93 million in March. Xero reported operating revenue of $70.1 million in the 12 months ended March 31....

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