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XERO 2022 SUBS GROW 19 PERCENT Featured

Cloud software vendor Xero closed its year on March 31 with 3.27 million subscribers, an increase of 19 percent from the total at the end of fiscal 2021, it said this week. 

li. The 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. North America ended the year with 339,000 subscribers, up 19 percent year-over-year. North American revenue was approximately $45.3 million for fiscal 2022, up 28 percent, 31 percent in constant currency. Xero’s largest market, Australia, had 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. “ 

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