Xero has just released its annual report to the NZX. In the chairman’s and CEO’s report the highlight;
- Over 200 customers in the UK as at 10 May
- 2008/2009 focus will be on sales and marketing and business partnerships in UK
- Focus on an Australian entry 2008/2009
- Features soon to come include
- Job costing
- Time recording
- Multi-currency
The second page of the report had this impressive looking chart – of course it’s more impressive without actual numbers and it’ll be good to see things head even further north in the months to come.
The report also includes banded remuneration levels. In line with its creation as the antithesis of a bootstrapped organisation, the salary bands are in keeping with an established business.
There are some big numbers there but nothing one wouldn’t expect from a company attempting to build a global business. As every previous analysis has pointed out – paying a CEO $250k is no problem at all so long as he delivers the goods. No doubt any shareholders that wish to do so will attend the AGM on the 24th of July in Wellington.
Ben Kepes is an analyst, an entrepreneur, a commentator and a business adviser. His business interests include a diverse range of industries from manufacturing to property to technology. As a technology commentator he has a broad presence both in the traditional media and extensively online. Ben covers the convergance of technology, mobile, ubiquity and agility, all enabled by the Cloud. His areas of interest extend to enterprise software, software integration, financial/accounting software, platforms and infrastructure as well as articulating technology simply for everyday users. 
Would love to know customer forecasts for May 09…
I imagine you’re not the only one John
I’d love to know if man really walked on the moon…
Hockeystick or otherwise, if you don’t show vertical axis values on the graph – it’s meaningless. It could be amazing and 10000 customers! or the top value could be 5 customers!
It says more that they didn’t show the vertical values than that the slope is hockey’ing.
In any case, I think that any business that is increasing revenue month after month is doing ok.