Xero slows cash burn in September quarter as customer receipts jump 73%

Fri, 30 Oct 2015

By Paul McBeth Oct. 30 (BusinessDesk) - Xero, the cloud-based accounting software developer, slowed its quarterly cash burn in the July-to-September period as customer receipts rose at a faster pace than its wage costs. The Wellington-based company's operating cash outflow shrank to $6.3 million in the three months ended Sept. 30 from $9.6 million in the same period a year earlier, it said in a statement. Customer receipts climbed 73 percent to $48.2 million, outpacing a 43 percent increase in staff costs to $28.2 million, the company's b...

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