Xero still going strong
Recently, Xero Ltd.’s non-executive director Craig Winkler has reduced his shareholding to 10.5% (from 12.7%) to fund his private charitable trust. Winkler is a Director of Givia, the trustee for a private charitable trust and remains Xero’s second largest individual shareholder (via Givia) after Xero’s CEO, Rod Drury. Further, Winkler has informed Xero that he will seek to distribute 100% of Givia’s assets over approximately a 10-year time frame. Over that period, Givia will sell its portfolio holdings, including Xero shares, to fund its charitable giving, and stated its intention to manage its shareholding sale processes to minimize impact on the market. For FY17, operating revenue has surged about 43% to $295.4 million (51% rise when excluding currency movements) while the subscription revenue surged 44%. XRO has been able to grow its customer base by 44% to just over 1 million customers globally during the period and net subscriber additions for the year were 318k. There was also an improvement in net loss after tax to $69.1 million from $82.5 million of last year alongside improvement in EBITDA loss and gross margin percentage. XRO has hit positive operating cash-flow for the first time in the second half of the year, and has $113.7 million of cash and short-term deposits.
To read the complete report CLICK HERE. To get your free report CLICK HERE
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.