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News & Events < 1 min read

Half year numbers


Nov 18, 2011

This morning we put out our half year results.  As one of the few early stage public SaaS companies we know these generate a lot of interest and we’re happy to answer questions as much as we can.

You can read our market release here: Xero gaining offshore momentum

The main messages are:

  1. Recurring revenues are growing solidly.  Our last years full year revenue was $9m and so to do almost $8m in the first half is very pleasing. Monthly committed subscription revenue now running at $1.5m
  2. Growing revenue in multiple geography’s
  3. We’ve reduced a lot of risk in the business – still a lot of hard work to do of course, but a lot of startup, execution, product and market risk has been reduced
  4. Incumbents not executing
  5. Continuing to invest in growth and capability
Thank you to our valued customers, shareholders, partners and exceptional staff for trusting us with the opportunity to grow a significant global business.

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