Xero grows revenue 29% to NZ$1.1 billion, with net loss of NZ$9.1 million

Software company Xero today released its FY22 annual results. Performance highlights included an increase in operating revenue by 29 per cent to NZ$1.1 billion; an increase in total subscribers by 19 per cent to 3.3 million; EBITDA of NZ$212.7 million, up 11 per cent from the prior corresponding period; and free cash flow of NZ$2.1 million.

However, a net loss after tax of NZ$9.1 million was reported, compared with a profit of NZ$19.8 million for 2021.

Shares in Xero (ASX:XRO) are trading 9.3 per cent lower at $78.91.