Public company, workplace, funding, and market signals
Updated Aug 5, 2026
Xero Limited is a New Zealand-founded, ASX-listed global small-business platform. Its cloud financial operating system combines accounting, payroll, payments, banking connections, advisor collaboration, an ecosystem of integrations, and AI-powered workflows for small businesses and their accountants/bookkeepers.
Primary product
Xero cloud accounting and small-business financial platform, including accounting, invoicing, bills, expenses, bank feeds, payroll, payments and JAX AI workflows.
Founded
2006
Headquarters
Wellington, New Zealand
Team size
5,000–5,500 FTE as of 31 March 2026
Work style
Flexible
Industry
Software development / financial technology
Sub-industry
Cloud accounting and small-business financial-management SaaS
Offices
Business model
Stage
Public company / post-IPO
Latest round
Capital raising associated with Melio acquisition · Jan 2025
Oct 2013 · US and New Zealand investors
2012 US investor round / secondary transactions
Nov 2012 · Matrix Capital Management
Mar 2012 · Retail shareholders
Oct 2010 · Peter Thiel / Valar Ventures
Apr 2009 · Craig Winkler
Leadership
Chief Executive Officer
David Thodey
Chair of the Board
Founder; former Chief Executive Officer
Co-founder
Company materials emphasize customer impact, high standards, ownership, inclusion, learning, autonomy, wellbeing and flexible/remote-first work. Engineering hiring highlights AI fluency, systems thinking, adaptability and cross-functional influence.
Work style
Flexible
Compensation
Public job postings show a total-package approach combining base salary, performance incentives/equity or RSUs, employee shares and benefits. Example Canadian postings list CAD 155,000–205,000 base for Senior Engineer and CAD 227,600–284,600 for Principal Engineer; figures vary by geography, level and experience.
Benefits
Pricing
Subscription plans with tiered packages, regional pricing, add-ons and trials; payments and other services can generate additional usage/revenue. Xero Ultra in Australia was reported at AUD 500/month including GST in July 2026.
Differentiators
Technology
Customers
Competitors
Estimated revenue
NZ$2.75–2.8 billion operating revenue for FY26 ended 31 March 2026 (approximately US$1.7–1.8 billion at broad exchange-rate conversion); FY27 guidance was NZ$3.62–3.73 billion.
Completed acquisition of US SMB bill-pay platform Melio for US$2.5 billion upfront plus up to US$0.5 billion contingent consideration. Integration, margin dilution and US execution are material disclosed/investor concerns.
SourceXero announced removal of approximately 700–800 roles, roughly 15% of its workforce, and reported completing the cuts by November 2023.
SourceFY26 revenue grew strongly, but statutory net profit fell 27% to NZ$167.4 million; reporting also cited multi-day service outages and an investigation involving former CEO Rod Drury as reputational/operational issues.
SourceKalkine Media · Jul 2026
Reported Xero's July 2026 five-million-customer milestone and new AI/product releases, while distinguishing it from the audited 4.92 million March balance-date figure.
TS2.tech · Jul 2026
Reported tighter performance-management actions and cited FY26 headcount composition, share-based compensation and margin concerns; treat as secondary-source reporting.
ASX / Xero · May 2026
FY26 operating revenue reached NZ$2.753 billion, customers 4.92 million and adjusted EBITDA NZ$757.4 million; the company highlighted Melio integration and AI strategy.
The New Zealand Herald · May 2026
Coverage focused on lower statutory profit, Melio losses, service outages, AI investment and execution concerns.
Xero Investor Relations · Oct 2025
Xero completed its acquisition of Melio, a US SMB bill-pay platform, its most strategically significant recent acquisition.
111 jobs at Xero