Xero’s subscriptions in North America increased by 19.9 percent for the year ended March 31. The company this month also noted revenue on the continent rose 28 percent year-over-year, 31 percent in constant currency.The New Zealand-based cloud software company reported fiscal 2021 revenue of about $45.1 million.
Overall, Xero company lost about $5.7 million for the most recently ended year, compared to net income of about $12.4 million at year-ago exchange rates. Revenue for 2022 grew by 29 percent to approximately $686 million.
Australia, which is Xero’s largest market, ended the year with 1.34 million subscribers for FY 2022, an increase of 21 percent. CEO Steve Vamos during said a recent earnings webcast that the company increased its employee base by 31 percent to 4,784 for recently concluded year.
The increase was 24 percent, excluding acquired business. He noted that the results reflect a “Rebound in growth across the group.”
