Operating cash flow for the second half was $9 million while for 2017 it fell 87.4 percent to about negative $3 million. The net loss of about $47.4 million was down 16.2 percent from 2016. Revenue rose to roughly $202.5 million for 2017, up 43 percent from the prior year. CEO Rod Drury also pointed to the migration to Amazon Web Services for its cloud platform as among the year's major accomplishments. The 692,000 subscribers in Australia and New Zealand represented 67 percent of 1,035,000 worldwide, an increase of 32 percent. North America's 92,000 subscribers were 48-percent higher than 62,000 at the end of fiscal 2016. The fastest growth for one country was in the United Kingdom where the 212,000 subscribers was 59 percent higher from a year ago.
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XERO CASH POSITIVE IN 2ND HALF Featured
Cloud software company Xero substantially cut its loss for the year ended March 31. The New Zealand-based organization passed 1 million subscribers during fiscal 2017 and also said this week operating cash flow turned positive for the first time during the second half.
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