Xero Limited
(ASX:XRO) (NZX:XRO) says it has delivered exceptional revenue growth of 77 per cent in fiscal 2015.
Subscription revenue was up 81 per cent to $121 million with growth of 475,000 new customers. Employees grew by 403 to a global staff of 1,161.
The cloud software accounting firm still posted a net loss of $69.5 million as it continues its investment in product development, sales and marketing.
However the company retains $269 million in cash and says it’s in a good position to fund future growth and expansion.
Xero also says it is seeing positive momentum in the lucrative US market despite the sudden resignation of CFO Douglas Jeffries.
