Xero slows cash burn in December quarter as knuckle-down kicks in

Thu, 28 Jan 2016

By Paul McBeth Jan. 29 (BusinessDesk) - Xero slowed its quarterly cash burn in the final three months of 2015 as the cloud-based accounting software developer knuckles down on keeping a lid on spending. The Wellington-based company's operating cash outflow shrank to $6.5 million in the three months ended Dec. 31, from $8.5 million a year earlier, it said in a statement. Customer receipts climbed 62 percent to $52.6 million, outpacing a 34 percent increase in staff costs to $32.4 million, the company's biggest operational cost. Spending on...

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