Xero Annual Report Released

The sales chart above is included in our Xero Annual Report 2008, released today to the NZX. This graph shows the growth rate of paying Xero customers added per week in our first full year as a publicly-listed company. You can download the full report from our Investor Centre.

Here’s a small excerpt from the Chairman’s and CEO’s statement:

Xero exceeded its customer acquisition forecast securing 1,406 customers and, operating within its costs forecast, finished the year with a better than forecast cash balance.

Xero has already become the primary challenger to the incumbent suppliers of accounting software in the New Zealand market and as the Company expands its offshore operations we will vigorously pursue new customers through partnering arrangements with banks, Internet service providers and similar organisations, vertical market sales initiatives, relationships with the accounting community and a strong focus on the development of a Xero-networked small business ecosystem.

You can download the full report here:
http://www.xero.com/downloads/XeroLimitedAnnualReport2008.pdf (500k).

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