Xero narrows 1H loss as revenue rises, says it's well positioned to breakeven

Wed, 02 Nov 2016

By Sophie Boot Nov. 3 (BusinessDesk) - Xero, the cloud-based accounting software firm, narrowed its first-half loss for 2016 as revenue lifted 48 percent, with its cash burn continuing to slow. The Wellington-based company said its net loss was $43.9 million in the six months ended Sept. 30, from a loss of $44.3 million a year earlier. Operating revenue rose to $137.2 million from $92.9 million, with operating and investing cash outflows down 7.5 percent to $45.8 million. Xero has $137.9 million cash and short-term deposits on hand, a...

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