Half year numbers

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