Xero Limited (ASX: XRO)

About Xero Limited (ASX: XRO)

Xero Limited is a software company that provides services over the internet. It helps small businesses by offering a platform with various tools such as accounting, payroll, workforce management, expenses, and project handling. Its operations are divided into two main parts: Australia and New Zealand (ANZ), and other international markets. The company’s platform is cloud-based, enabling real-time data access for small business customers and their partners, aiding in managing day-to-day business, staying compliant with accounting and tax rules, and facilitating connections with banks and financial service providers.

Additionally, Xero’s platform integrates with a variety of apps and financial institutions, creating an open ecosystem that helps small businesses manage their finances. Among its key software features are capabilities to pay bills, record expenses, connect with banks, and process payments. Xero owns several brands including Planday, WorkflowMax, Hubdoc, TaxCycle, and Tickstar. As per the latest twelve months (TTM) figures, Xero reported a revenue of AUD 1.41 billion and a net loss of AUD 39.54 million. The company was founded in 2006 and currently employs about 5,080 people. Despite a significant increase in revenue year on year, the company’s net income declined due to higher costs of goods sold as well as other factors.

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