2013 Annual Report

We’re proud to present our Annual Report for the 2013 Financial Year (that is to 31 March 2013)

Xero Annual Report 2013

Key messages:

  • Our loss was slightly lower than expected at $14.4m – while growing fast we do keep a close eye on costs
  • We have substantially grown our team over the year. Building capability for the future. It’s a huge amount of work to double a team.
  • Our team is executing very well
  • We’re just at the beginning of a massive market shift

If you’re interested in all things Xero I’d urge you to read the Chairmans and CEO report.

Our team is very grateful for the support of our shareholders.

As always, we’d welcome any questions below.

7 Comments

Gayle Buchanan
May 23, 2013 at 6:04 pm

thanks Rod, hope that Matrix Partners graph makes it to the market to educate the naysayers – grrrr – happy proud kiwi shareholder here, just bummed didn’t buy more!

Chris Doughty
May 23, 2013 at 10:59 pm

Thanks, great results guys. Out of interest, now that NZ is effectively captured how is it doing profit wise as a single country?

Rod Drury
May 23, 2013 at 11:05 pm

@Chris, depends on how we allocate R&D costs. NZ is obviously more than than covering it’s direct costs and is a strong contributor. We’ll present more analysis of this at our annual meeting. While we are still investing and making losses in total it will be useful to highlight parts of the business which are making money already. There is still a lot of revenue to chase in NZ without significantly increasing our direct costs.

James
May 24, 2013 at 10:02 am

My shares are almost 20 times what I bought them for.and are now worth more than my mortgage. Thank you. Most people would recommend I sell up but I’m not selling another share regardless of what the share price does tomorrow. I don’t even really care what they’re worth anymore. I just want to see this thing take on the world. I enjoy being a part of this too much and except for my own business I don’t have another investment that keeps me as well informed as you guys do so its my problem if I lose it all.
I’m all in. 5 million customers or bust. Destroy the competition. Don’t sell out. Game on. YeeHaa!!!!

Nigel
May 24, 2013 at 1:06 pm

It’s good to know we are trusting our accounts to a company on such a positive trajectory. With SAAS you have to trust the execution as well as the product. But one big problem remains… …how can us Brits buy shares?! Keep it up!

Lisa Martin
May 25, 2013 at 9:57 am

Awesome your accounts are ready so quick after balance date you must be using fantastic software! Well done to your accounts team!

Mike Porter
May 29, 2013 at 9:45 pm

In your latest investor slides – unleash referral program. I’d be the happiest investor on the register …. Have you waited for the 150,000 strong sales team to arrive because the back engine and op’s simply couldn’t scale quick enough if referral program over delivered, or In other words have you constrained growth deliberately ? or are you just finally getting around to this after ticking off other growth strategies ?
Or another view ?
Great journey to date, execution of this quality is inspiring to read about.

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