Xero is a publicly owned company headquartered in New Zealand. Founded in 2006, the company employs approximately 5700 individuals and reported $1.1B in revenue as of 2025. The company specializes in software development, providing cloud-based accounting software for small and medium-sized businesses.
On September 17, 2026, Xero Ltd (ASX:XRO) reported FY26 Operating Revenue of NZ$2.75 billion, a 31% year-on-year increase, driven by customer growth and higher average revenue per customer. The company's customer base expanded to 4.92 million, with annualised monthly Recurring Revenue (AMRR) reaching NZ$3.27 billion. Earlier on the same day, Xero's AI assistant, JAX, was noted as a participant in the AI bookkeeping sector, designed to automate tasks such as categorizing transactions, reconciling bank feeds, chasing unpaid invoices, and flagging anomalies, placing it alongside competitors like QuickBooks Intuit Assist.
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