Below are the financial statements of Xero, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of NZD | 2024 | 2023 |
|---|---|---|
| Subscription revenue | 1,630.76a | 1,326.28a |
| Other operating revenue | 83.01a | 73.61a |
| Total operating revenue | 1,713.77a | 1,399.88a |
| Cost of revenue | -202.51a | -177.94a |
| Gross profit | 1,511.26a | 1,221.94a |
| Operating expenses | — | — |
| Sales and marketing | -541.24a | -471.83a |
| Product design and development | -526.18a | -490.05a |
| General and administration | -185.12a | -168.08a |
| Restructuring costs | -3.01a | -34.69a |
| Total operating expenses | -1,255.55a | -1,164.65a |
| Operating income | 255.71a | 57.29a |
| Other income | 14.67a | 18.13a |
| Other expenses | -6.35a | -12.54a |
| Asset impairments and disposals | -26.41a | -122.68a |
| Reversal of asset impairments | 1.93a | 0a |
| Earnings before interest and tax | 239.56a | -59.8a |
| Finance income | 67.48a | 29.12a |
| Finance expense | -45.13a | -45a |
| Net profit/(loss) before tax | 261.91a | -75.68a |
| Income tax expense | -87.27a | -37.86a |
| Net profit/(loss) after tax | 174.64a | -113.53a |
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