We’re growing

Next week is a huge event for us, our local #XeroCon where we have over 400 accountants and bookkeepers joining our team in Auckland. As a public company we’re subject to continuous disclosure of material information, so in order to talk freely next week we’ve just updated the market on some key metrics.

You can see the release here.

The key points and some additional commentary are as follows:

• Operating revenue for the full year ended 31 March 2012 will double 2011 (which was $9.3m).
• Committed Monthly Revenue (CMR) is now $1.75m or $21m annualized. We’re delighted that 50% of CMR is from offshore markets showing that we becoming a truly global company.
• Paying customers using the Xero business software worldwide exceeds 60,000. There are 240,000 user accounts.
• There are over 3,300 accounting firms now using Xero. The accountant and bookkeepers channel model, proven in New Zealand, is showing similar early signs of success in offshore markets.
• The company now employs 170 staff across four countries. The US sales office has been established with six staff in San Francisco.

We know we still have a lot to do, but we’re firing on all cylinders – and still hiring. We still think we’re just at the beginning of this ride and we have so much more we want to do.

Huge thanks to our customers and especially to our hard working team to continue to deliver such outstanding growth.

Any questions please fire away.  We’re always happy to share experiences and we’re still learning.