1 Aug 2014

Xero cash spend up

6:58 am on 1 August 2014

Accounting software company Xero went through another $17 million in cash in the three months ended June, a little less than double the amount it spent in the same quarter last year.

However, its receipts from customers jumped 81 percent in the latest quarter, more or less in line with the 83 percent sales growth it achieved in the year ended March.

The spend was also up from nearly $12 million in the March quarter but the company said the year-on-year comparisons provide a clearer view of growth trends because of the business' seasonal nature.

The company still had nearly $193 million in cash at the end of June.