Xero hints at big numbers

With the national Xerocon conference taking place next week, online accounting firm Xero has issued an update on its performance ‘in order to talk freely’ at the event.

The company’s operating revenue for the year to March 2012 is on track to double the $9.3 million from the same period twelve months previously, with Committed Monthly Revenue (CMR) now $1.75 million, or $21 million annualised. 50% of the CMR is from offshore markets.

The number of paying customers using Xero software has grown from over 50,000 in November to over 60,000, with staff numbers growing from 140 to 170. There are also 3300 accounting firms now using the software.

In a blog post, Xero CEO Rod Drury says the company is ‘firing on all cylinders’.

"We still think we’re just at the beginning of this ride and we have so much more we want to do,” Drury says.

Xerocon takes place on February 3 at the Viaduct Events Centre in Auckland.