Xero Investor update November 2013
Important notice This presentation is given on behalf of Xero Limited (Company number NZ 1830488, AU ARBN 160661183 NZX/ASX:XRO). Information in this presentation: • is for general information purposes only, and is not an offer or invitation for subscription, purchase, or recommendation of securities in Xero Limited; • should be read in conjunction with, and is subject to, Xero’s Annual Report, market releases, and information published on Xero’s website (www.xero.com); • includes forward-looking statements about Xero and the environment in which Xero operates, which are subject to uncertainties and contingencies outside of Xero’s control – Xero’s actual results or performance may differ materially from these statements; • includes statements relating to past performance, which should not be regarded as a reliable indicator of future performance; and • may contain information from third parties believed to be reliable; however, no representations or warranties are made as to the accuracy or completeness of such information. All information in this presentation is current at the date of this presentation, unless otherwise stated. All currency amounts are in NZ dollars unless stated otherwise.
FY 2014 first half year 6 months to September 2013
6 months to September 2012
Increase
Operating revenue
$30.3m
$16.5m
84%
Total revenue & grant income
$31.0m
$16.9m
83%
Operating expenses
$(44.6)m
$(22.7)m
96%
EBITDA
$(13.6)m
$(5.8)m
134%
Net loss after tax
$(17.1)m
$(7.0)m
144%
as at 30 September 2013
as at 30 September 2012
Cash & cash equivalents
$55.3m
$30.6m
81%
Paying business customers
211,300
111,800
89%
Annualized Committed Monthly Revenue (ACMR)
$70.6m
$38.7m
82%
3
ACMR (NZ$m)
Growth trajectory continues $80,000,000
300,000
$60,000,000
225,000
$40,000,000
150,000
$20,000,000
75,000
Sep 08
Sep 09
Sep 10
ACMR
Sep 11
Customer Numbers
4
Sep 12
Sep 13
SaaS - investing to drive high growth Salesforce
250%
160%
120%
150%
80%
100%
400% Revenue Growth Rate
40%
50%
0%
$22
$51
$96
General & Admin COGS
$176
$310
$497
$749 $1,077 $1,306 $1,657 $2,267 $3,050
Revenue (USD M)
R&D Revenue Growth Rate
Selling & Marketing
Workday
200%
200%
150%
150%
100%
100%
50%
0%
0%
250%
350% Operating costs % of Revenue
Operating Costs % of Revenue
200%
Operating Costs % of Revenue
Xero
200%
200%
300% 250%
150%
200% 100%
150% 100%
50%
50% Revenue Growth Rate
0%
$3
50%
$68
$134
Revenue (USD M) General & Admin COGS
R&D Revenue Growth Rate
$274
$9
$19
$39
Revenue (NZD M)
0%
Operating Expenses
Selling & Marketing
5
Revenue Growth Rate
0%
Revenue Growth Rate
Country customer growth Customers at 30 Sep 2013
Customers at 30 Sep 2012
Growth
% total small businesses
NZ
85,500
57,300
49%
19%
AU
79,100
32,500
143%
4%
UK
30,100
15,100
99%
