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N. AMERICAN XERO SUBS UP 22.1% Featured

 Subscriptions for Xero in North America were up 22.1 percent for the first half ended September 30. The New Zealand-based company also reported this week revenue for this continent rose 5 percent 14 percent inconstant currency.

That translated into 308,000 subscribers and revenue of approximately $23 million for the most recently ended period. Overall Xero’s revenue was approximately $372.8 million for the half, an increase of 23 percent with subscriber rising the same percentage to 3,013,000 from 2,453,000 subscribers. The number of subscribers was also up 23 percent in the United Kingdom, rising to 785,000 from 638, 000 and nearly as fast in Australia where there were 1,239,000 customers at the end of the half, an increase of 22 percent from 1,014,000. CEO Steve Vamos noted that Xero ended the half with more than 4,000 employees, a 30 percent increase year-over-year. He noted Xero established a flexible work policy to make some jobs permanently remote.Vamos also said Xero will use partnerships and acquisitions in North America to expand its market on this continent

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