Xero Limited (XRO) / Announcements

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Xero expects to double 2012 operating revenue

9:44am, 26 Jan 2012 | FORECAST

MARKET RELEASE
Xero grows offshore, expecting to double 2012 operating revenue

26 January 2012

Ahead of Xero’s national conference for accounting partners, the company (XRO) wishes to update the Market on key metrics.
• Xero expects its operating revenue for the full year ended 31 March 2012 to double 2011 revenue of $9.3m.
• Committed Monthly Revenue (CMR) is now $1.75m or $21m annualized. 50% of CMR is from offshore markets.
• Paying customers using the Xero business software worldwide exceeds 60,000. There are 240,000 user accounts.
• There are over 3,300 accounting firms now using Xero. The accountant and bookkeepers channel model, proven in New Zealand, is showing similar early signs of success in offshore markets.
• The company now employs 170 staff across four countries. The US sales office has been established with six staff in San Francisco.

On 3 February at the Viaduct Events Centre in Auckland, Xero will be hosting more than 400 accountants and bookkeepers at #Xerocon making it New Zealand’s largest accounting conference.

For more information contact:

Rod Drury
Xero CEO
rod.drury@xero.com
+64 27 6000 007