Drury said that "timing will be dependent on internal and external factors and not before release of our FY16 results." The current fiscal year ends on March 31, 2016. Xero is already publicly traded in Australia and New Zealand.

The publisher of low-costing accounting software secured about $100 million in funding from U.S. sources early in the year. Drury had originally talked about an American IPO being conducted before fiscal 2015 ended. He predicts subscription revenue for the current year will exceed NZ $200 million—about $132 million U.S. That compares to roughly $81.5 million U.S. for the most recently ended fiscal year.

With the U.S. funding in hand, Xero put an emphasis on developing its operations here. Russell Fujioka, who joined as president of Xero U.S. in January, was shown on Drury's slides as managing director of Xero North America. The CEO also talked about having "Global Management Focused on the U.S."