Saturday 21 May 2022 | No. 30
XU Biweekly The independent news source for Xero users, by Xero users
ACQUISITION OF FUTRLI ANNOUNCED Read all about the acquisition on page 4... The past year has again highlighted the resilience of small businesses and their advisors, and the strength of our relationships with customers and partners as more people realise the benefits cloud accounting and digital tools provide. In the video below, I share the highlights from our FY22 results, joined by our CFO, Kirsty Godfrey-Billy.
Financial results
By Steve Vamos
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ODAY WE ANNOUNCED XERO’S FULL YEAR FINANCIAL AND OPERATING RESULTS TO 31 MARCH 2022 (FY22). Our strong financial result reflects the benefits of Xero’s commitment to invest for the long-term to support our strategy and focus on current and future customer needs. In FY22, Xero grew operating revenue 29%, and exceeded the milestone of a billion dollars for the first time to reach $1.1 billion. We ended the financial year with 3.3 million global subscribers and 4,784 employees around the world, a 19% and 31% increase on the prior year respectively.
The quality of Xero’s performance, delivered against a backdrop of varying market conditions, is highlighted by robust software-as-a-service (SaaS) metrics:
Performance highlights FY22 (all figures are in NZD and comparisons are made against FY21) • Operating revenue increased by 29% to $1.1 billion (30% in constant currency (CC)) • Total subscribers increased by 19% to 3.3 million • Annualised monthly recurring revenue • Total subscriber lifetime value (LTV) grew by $3.3 billion or 43% to $10.9 billion (45% in CC) • Gross margin percentage increased by...
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Amaka acquires InView in a move to become a centralised SMB automation platform
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MAKA, THE GLOBAL LEADER IN ACCOUNTING INTEGRATIONS, IS DOUBLING DOWN ON ITS SMB AUTOMATION OFFERING WITH THE ACQUISITION OF INVIEW. InView allows customers to manage invoices and bills directly from their calendar or Slack by integrating with all major accounting software. The added product offering complements Amaka’s existing range of integrations that connect accounting software to e-commerce, POS and e-signature platforms. “We initially began to expand beyond
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our initial range of integrations through major partnerships with the likes of DocuSign and Square to name a few,” said Pedram Afshar, CEO at Amaka. “Our goal is simple, we want to save SMBs time and money by bringing them the best automation platform globally.” Inview will maintain its brand and will now be called Inview by Amaka. “Though exponential growth was the aim, having the capacity was a different story,” said Rikki Pitt, former CEO at InView. “Dealing with Amaka has been a...
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