Xero has $85m of cash in first cashflow report

Accounting software firm Xero had $85 million of cash at the end of 2012 after raising $60 million in a private placement in December.

The figure is revealed in its first quarterly cashflow report, which is required by the ASX. Xero took up a secondary listing on ASX in November.

The report shows net operating and investing cash outflows for the quarter of $6 million.

Xero spent $6.48 million on staff costs in the quarter and $1.05 million on advertising and marketing.

Its receipts from customers were $10.12 million in the quarter and $25.96 million in the nine months to December 31.

Earlier, the company reported revenue of $17.3 million in accounts for the six months to September 30 and operating expenses of $22.8 million. It said it had annualised committed revenue of $38.7 million.

Xero has about 3000 shareholders and 48 percent of its shares are held by directors and staff.

In the capital raising, Peter Thiel-backed Valar Ventures of San Francisco invested $24 million and Massachusetts-based Matrix Capital Management invested $58 million. They also bought collectively $22 million of existing shares from Xero's three largest shareholders.

The company is loss-making at present, judging it better to invest in accelerated growth to capture market share in the global market for online, cloud-based business systems.

The shares fell 0.7 percent to $7.25 in trading today.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7009 0.0011 0.16%
AUD 0.9350 -0.0009 -0.10%
EUR 0.6371 0.0004 0.06%
GBP 0.5340 -0.0002 -0.04%
HKD 5.4349 0.0079 0.15%
JPY 73.2740 -0.5450 -0.74%

Commods

Commodity Price Change Time
Gold Index 1319.5 -2.390 2016-07-25T00:
Oil Brent 45.1 -0.960 2016-07-25T00:
Oil Nymex 43.1 -1.080 2016-07-25T00:
Silver Index 19.6 -0.040 2016-07-25T00:

Indices

Symbol Open High Last %
NZX 50 7317.3 7321.9 7317.3 0.02%
NASDAQ 5097.0 5100.7 5100.2 -0.05%
DAX 10155.2 10264.1 10147.5 0.50%
DJI 18554.5 18555.7 18570.8 -0.42%
FTSE 6730.5 6756.1 6730.5 -0.30%
HKSE 21890.9 22022.5 21993.4 0.11%
NI225 16535.8 16535.8 16620.3 -1.57%
ASX 5530.2 5530.2 5533.6 -0.43%