Xero to acquire Melio: A payments game-changer for small businesses across the US

Today we announced Xero’s full-year earnings update to the market covering our financial and operating performance in the year ended 31 March 2018 (FY18). You can read the materials here: www.xero.com/about/investors
Following our achievement of a million subscribers last year, it’s fantastic to see the continued momentum in FY18.
We now have 1.386 million subscribers on the Xero platform, adding 351,000 in the last year. Over the past three years we’ve also reduced cash outflow as a percentage of revenue from 71% to 9% and grew revenue at a compound annual growth Rate (CAGR) of 49% over the same period.
Other highlights include:
I’ve been in the CEO seat for just over one month, having taken over from founder Rod Drury on 1 April. Rod’s leadership over the past decade deserves great credit for Xero becoming the exciting, fast growing business it is today. Xero will continue to benefit from Rod’s vision and insights as a non-executive director, and we look forward to continuing to work with him.
The focus for us now is to further develop Xero for continued growth, harnessing the power of the platform that Rod and the team have built over the past decade. We will leverage machine learning and artificial intelligence advances to help small businesses manage day-to-day and help accounting partners work more efficiently.
Several growth drivers are emerging that we are excited about including deeper penetration into existing markets, global expansion, adjacent products for small businesses and partners, transactional activities, the financial web and other data driven solutions.
Xero has built strong operating disciplines over the past few years, and we will continue to strengthen these foundations as we drive towards cash flow breakeven.
I’m really pleased to present these results on behalf of the Xero team, who all deserve great credit for our progress. Thanks also to our customers, partners and shareholders for your support. We couldn’t do this without you!
https://youtu.be/Q7EspxfyJgs
Share this article
[addtoany]Find out why 4.2 million subscribers locally and across the world trust Xero with their numbers.
Try Xero for freeYou're on our Global website. Change your region to see information and pricing for another location.