Xero Limited Stock Market Press Releases and Company Profile
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Auckland, April 26, 2015 AEST (ABN Newswire) - The financial year end to March 2015 was a fantastic year for Zero Ltd (googlechartASX:XRO) (googlechartNZE:XRO) (googlechartXROLF:OTCMKTS). It was really all about building the team to scale. About 18 months ago we were about 500 people, now we're up to over 1,200 people. That's a huge amount of work. Think of it - it's like flying a passenger jet while actually building the plane and then changing the engines all at the same time. That just leaves us with so much capability coming into the next year.

But while we've been doing that we've achieved, just, I think, fantastic results. We're now well over US $100 million annualised revenue and at 80+ percent growth rate. We're best in class of terms of platform uptime, while we're doing all of these changes. Our development cadence is really off the charts compared to anything that's happened in the industry before.

We're now platform complete. Most businesses now, who are used to running desktop software, can get a much better experience on the cloud, because we've done all of those features.

Our support feedback has been fantastic - rather than small businesses sitting on the phone they can contact us and we'll call them back. We're getting rave reviews for that as well.

One of the other big highlights this year was raising another more than US $100 million worth of capital. So we've got more than, you know, quarter of a billion dollars of cash in the bank to invest. So we've massively upgraded the scale of the business - but delivered, I think, fantastic operational performance. And, you know, we think we're in for a really exciting 2016.

To view the video, please visit:
http://www.abnnewswire.net/press/en/79803/xero


About Xero Limited

Xero Limited (ASX:XRO)Xero Limited  (ASX:XRO) (NZE:XRO) (OTCMKTS:XROLF) is a global company with offices in the United States, United Kingdom, Australia and New Zealand. Xero is the emerging leader in online accounting software, providing business owners with real-time visibility of their financial position in a way that's simple, smart and secure.

For advisors such as accountants and bookkeepers, Xero forges a trusted relationship with clients through online collaboration and gives them the opportunity to extend their services. Xero is a new type of multinational with teams around the world united in our passion to revolutionise small business.

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Contact

Xero Limited
Rod Dury, CEO
T: +64-27-6000-007
E: rod.drury@xero.com
WWW: www.xero.com


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