Xero
Xero 400X300
Xero reported a 43 percent increase in subscribers and 28 percent year-over-year revenue growth in North America. A big area of growth has come from the partner channel--in the last year, Xero has been dedicated to building strong partnerships with banks and payment providers like Capital One and Stripe, to help customer manage their financial data.
On the global front, Xero saw a 38 percent increase in revenue globally and delivers operating revenue of $407M, 1.4M subscribers, achieves positive EBITDA of $26M, and operating cash flow of $41M. (All figures in NZD)
Strong subscriber and revenue growth with AMRR rising to $484.4 million
- Continued growth with operating revenue up 38% in FY18 (37% in Constant Currency (CC)) to $406.6 million
- Annualized Monthly Recurring Revenue (AMRR) growth of 33% to $484.4 million
- Net subscriber additions of 351,000, taking Xero subscribers to 1.386 million at 31 March 2018
- Lifetime Value (LTV) per subscriber rose by 8% to $2,310 (9% in CC) adding $990m ($1.0 billion in CC) in total subscriber LTV in the past 12 months to surpass $3.2 billion in total LTV
Disciplined execution with first annual positive EBITDA and operating cash flows
- Net loss after tax for FY18 improved 60% to $(27.9) million from $(69.1) million in FY17
- Positive EBITDA of $26.0 million for FY18, compared to $(28.6) million loss in FY17
- Cash flows from operating activities at $41.2 million for FY18, an improvement from $(4.4) million in FY17. Total cash outflow from operating and investing activities was $(36.9) million for FY18, reducing from an outflow of $(70.1) million in FY17
- Gross Margin improved 4pts to 81% Market leadership
- Cloud accounting market leadership in established markets of Australia and New Zealand continued with region subscriber growth of 28% to 884,000 and revenue growth of 33% (31% in CC)