Xero to contain cash burn through 2016 as first-half loss widens, revenue climbs 71%

Wed, 04 Nov 2015

By Paul McBeth Nov. 5 (BusinessDesk) - Xero, the cloud-based accounting software developer which is foregoing profits to expand sales, posted a wider first-half loss even as revenue increased 71 percent, and said it wants to maintain the current annual cash burn through the rest of the year. The Wellington-based company posted a loss of $44.3 million, or 33 cents per share, in the six months ended Sept. 30, from $24.5 million, or 19 cents, a year earlier, it said in a statement. Revenue rose to $92.9 million from $54.3 million a year earl...

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