Complete financial analysis of Xero Limited (XRO.AX) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Xero Limited, a leading company in the Software – Application industry within the Technology sector.
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Xero Limited (XRO.AX)
About Xero Limited
Xero Limited, together with its subsidiaries, operates as a software as a service company in New Zealand, Australia, the United Kingdom, and internationally. The company offers Xero, an open platform that connects small businesses to a range of solutions, which helps to manage their finances. It also provides Xero mobile app; and accountant/bookkeeper tools, including Xero HQ, Xero Practice Manager, Xero Workpapers, and Xero Cashbook or Xero Ledger. Xero Limited was incorporated in 2006 and is headquartered in Wellington, New Zealand.
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.71B | 1.37B | 1.12B | 859.59M | 699.61M | 516.11M | 375.69M | 278.14M | 190.45M | 121.48M | 65.75M | 31.32M | 19.37M | 9.34M | 3.16M | 959.00K | 134.00K |
| Cost of Revenue | 140.25M | 378.43M | 307.12M | 242.82M | 199.23M | 156.26M | 129.40M | 102.06M | 70.52M | 36.69M | 23.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 1.57B | 989.43M | 810.40M | 616.76M | 500.37M | 359.86M | 246.29M | 176.08M | 119.92M | 84.79M | 42.75M | 31.32M | 19.37M | 9.34M | 3.16M | 959.00K | 134.00K |
| Gross Profit Ratio | 91.81% | 72.33% | 72.52% | 71.75% | 71.52% | 69.72% | 65.56% | 63.31% | 62.97% | 69.80% | 65.02% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 311.44M | 250.08M | 161.56M | 106.92M | 79.15M | 63.24M | 55.70M | 42.79M | 43.63M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 533.00K |
| General & Administrative | 637.87M | 700.94M | 563.04M | 405.13M | 331.42M | 260.63M | 213.91M | 34.59M | 27.79M | 31.92M | 56.51M | 24.91M | 15.84M | 9.52M | 7.37M | 5.14M | 2.43M |
| Selling & Marketing | 219.89M | 167.66M | 145.32M | 92.18M | 113.17M | 73.19M | 57.41M | 152.31M | 133.59M | 88.24M | 15.23M | 4.51M | 2.98M | 2.24M | 1.28M | 0.00 | 0.00 |
| SG&A | 857.76M | 589.08M | 524.07M | 388.30M | 362.71M | 270.13M | 201.01M | 188.09M | 161.40M | 120.16M | 71.74M | 29.42M | 18.81M | 11.75M | 8.66M | 5.14M | 2.43M |
| Other Expenses | 714.36M | -5.45M | 45.39M | 0.00 | 2.55M | 1.04M | 661.28K | 1.07M | 2.29M | 5.29M | 650.03K | 396.34K | 579.00K | 365.00K | 178.00K | 169.00K | 255.00K |
| Operating Expenses | 1.57B | 905.96M | 774.15M | 549.86M | 469.63M | 349.29M | 264.25M | 243.79M | 204.19M | 163.79M | 102.93M | 44.51M | 28.27M | 18.06M | 12.81M | 8.37M | 5.49M |
| Cost & Expenses | 1.57B | 1.28B | 1.08B | 792.68M | 668.87M | 505.54M | 393.65M | 345.85M | 274.71M | 200.48M | 125.93M | 44.51M | 28.27M | 18.06M | 12.81M | 8.37M | 5.49M |
| Interest Income | 61.90M | 28.45M | 4.16M | 5.22M | 13.08M | 7.50M | 2.25M | 3.56M | 7.52M | 7.57M | 4.75M | 1.47M | 612.00K | 880.00K | 1.03M | 497.00K | 793.00K |
| Interest Expense | 45.40M | 43.00M | 44.52M | 112.19M | 41.45M | 21.00M | 3.87M | 97.72K | 49.55K | 24.52K | 0.00 | 0.00 | 0.00 | 0.00 | 1.00K | 3.00K | 4.00K |
| Depreciation & Amortization | 236.55M | 214.17M | 173.91M | 131.19M | 102.34M | 76.41M | 64.96M | 39.67M | 26.80M | 17.65M | 8.37M | 3.65M | 1.89M | 1.15M | 1.41M | 873.00K | 342.00K |
| EBITDA | 510.98M | 183.23M | 220.83M | 189.50M | 153.37M | 75.81M | 25.99M | -28.04M | -57.46M | -45.83M | -28.81M | -7.57M | -7.01M | -7.56M | -8.25M | -6.53M | -3.47M |
| EBITDA Ratio | 29.84% | 21.76% | 18.81% | 23.05% | 19.02% | 16.85% | 12.51% | -10.08% | -30.17% | -54.45% | -43.82% | -30.53% | -35.58% | -80.97% | -261.02% | -680.60% | -3,740.30% |
| Operating Income | 255.47M | 83.46M | 36.25M | 66.90M | 30.74M | 10.57M | -17.96M | -67.71M | -84.26M | -83.79M | -37.18M | -13.20M | -7.30M | -7.94M | -8.93M | -7.18M | -5.35M |
| Operating Income Ratio | 14.92% | 6.10% | 3.24% | 7.78% | 4.39% | 2.05% | -4.78% | -24.35% | -44.24% | -68.97% | -56.55% | -42.14% | -37.66% | -84.99% | -282.87% | -748.91% | -3,995.52% |
| Total Other Income/Expenses | -15.21M | -155.68M | -33.22M | -106.00M | -21.78M | -32.76M | -4.10M | 4.56M | 9.80M | 17.62M | 4.02M | 1.85M | 1.11M | 478.00K | 483.00K | 431.00K | 846.04K |
| Income Before Tax | 240.26M | -73.95M | 2.41M | -44.50M | 9.58M | -21.60M | -22.05M | -63.15M | -74.46M | -66.17M | -31.80M | -11.35M | -7.79M | -7.46M | -8.45M | -6.75M | -4.31M |
| Income Before Tax Ratio | 14.03% | -5.41% | 0.22% | -5.18% | 1.37% | -4.19% | -5.87% | -22.71% | -39.10% | -54.47% | -48.37% | -36.24% | -40.24% | -79.87% | -267.57% | -703.96% | -3,216.42% |
| Income Tax Expense | 80.05M | 36.99M | 11.69M | -64.52M | 6.33M | 3.74M | 963.58K | 1.87M | 1.39M | 2.04M | 757.90K | 237.48K | 110.00K | 26.00K | -1.03M | -487.00K | -789.00K |
| Net Income | 160.21M | -110.93M | -9.29M | 19.69M | 3.33M | -25.34M | -23.02M | -65.02M | -75.85M | -68.20M | -33.34M | -11.59M | -7.90M | -7.49M | -8.45M | -6.75M | -4.31M |
| Net Income Ratio | 9.36% | -8.11% | -0.83% | 2.29% | 0.48% | -4.91% | -6.13% | -23.38% | -39.83% | -56.14% | -50.71% | -37.00% | -40.81% | -80.15% | -267.57% | -703.96% | -3,216.42% |
| EPS | 1.06 | -0.74 | -0.06 | 0.14 | 0.02 | -0.18 | -0.17 | -0.47 | -0.56 | -0.54 | -0.28 | -0.10 | -0.08 | -0.08 | -0.10 | -0.12 | -0.08 |
| EPS Diluted | 1.05 | -0.74 | -0.06 | -2.70 | 0.02 | -0.18 | -0.17 | -0.47 | -0.56 | -0.54 | -0.28 | -0.10 | -0.08 | -0.08 | -0.10 | -0.12 | -0.08 |
| Weighted Avg Shares Out | 151.42M | 150.04M | 148.40M | 143.52M | 140.92M | 139.20M | 137.57M | 137.37M | 136.43M | 126.43M | 120.53M | 110.40M | 93.47M | 89.32M | 83.46M | 55.40M | 55.00M |
| Weighted Avg Shares Out (Dil) | 152.93M | 150.04M | 148.40M | 149.91M | 143.15M | 139.20M | 137.57M | 137.37M | 136.43M | 126.43M | 120.55M | 110.40M | 93.47M | 89.32M | 83.46M | 55.40M | 55.00M |
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Source: https://incomestatements.info
Category: Stock Reports
How did Xero’s revenue and subscriber growth change in FY24?
For FY 2024, Xero reported a 22% increase in revenue to $1.7 billion marginally ahead of analyst estimates. A weaker New Zealand dollar had a favourable impact with 21% growth in constant currency.
What was Xero’s net profit after tax in FY24?
Average revenue per user of NZ$39.29 was up 14% compared to FY23 and adjusted EBITDA climbed 75% to NZ$526.5 million. Net profit after tax totalled NZ$174.6 million over the year, compared to a loss of NZ$113.5 million in the previous year.
What is Xero’s Rule of 40 and its significance?
The Rule of 40 states that the sum of a healthy SaaS company’s annual recurring revenue growth rate and its EBITDA margin should be equal to or exceed 40%. It is a measure of how well a SaaS balances growth with profitability.
How did Xero’s free cash flow perform in FY24?
This resulted in $342 million of free cash flow and a 20% FCF margin. “We’ve delivered a strong and profitable FY24 result and Rule of 40 outcome, demonstrating our commitment to balancing growth and profitability.”
What were Xero’s key financial highlights in FY24?
The strong operating results saw operating revenue up 21% (20% in constant currency (CC)) to $799.5 million. This, along with disciplined cost management and restructuring outcomes, supported a 90% increase in EBITDA compared to H1 FY23, to $206.1 million.