Xero tells ASX that profit is wrong metric to measure business

Thu, 30 Apr 2015

By Jonathan Underhill April 30 (BusinessDesk) - Xero, the cloud-based accounting software firm whose shares have dropped 36 percent in the past year, has told the ASX it is in compliance with disclosure rules over its annual results while criticising media reports that focused on earnings rather than metrics such as cash burn and revenue per user. The ASX had sent Xero a please explain note, asking how long before the annual results, which saw its net loss blow out by 96 percent to $69.5 million, had the company known about the deteriorat...

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