A statement accompanying the results shows how Xero is positioning itself, referring to its having emerged as the online accounting leader in Australia, New Zealand and the United Kingdom and as the No. 1 challenger in the United States. But to put that in perspective results for the United State is still lumped in a category that includes the world outside of the other three English-speaking countries. Within the category, first-half revenue was about $2.3 million. No. 1 Intuit had 487,000 QuickBooks Online subscribers on July 31, up 18,000 from three months earlier. Using QBO Essentials, priced $26.95 ($27 for math's sake) per month - midway between the Simple Start and Plus – those 18,000 extra annualize at $5.8 million.
XERO LOSS OUTSTRIPS GROWTH Featured
Xero is investing to gain market share, the message from its financial results that were released this week. For the six months ended September 30. Revenue for the most recently ended period was about $25 million, up 84 percent from a year earlier with a loss around $14.1 million, an increase of 144 percent from the red ink ago. Xero invested in building its company, including strengthening operations in the United States and with the $150 million in capital raised half month, it's got some cushion in the bank account to continue doing that.
