Xero to reach profitability in three years, has passed peak cash burn, First NZ Capital says

Fri, 13 May 2016

By Jonathan Underhill May 13 (BusinessDesk) - Xero, the cloud-based accounting software firm, may reach positive operating earnings in 2018 and achieve bottom-line profit the following year, according to brokerage First NZ Capital. First NZ analyst James Schofield reiterated his 'outperform' rating on Xero following the release of its full-year results yesterday. Xero posted a 67 percent gain in revenue to $207 million, while its net loss widened to $82.5 million. The company said it burned through $86 million in the latest year, down...

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