Xero Limited

What does Xero own?

The company owns the Xero accounting platform, Melio (US B2B payments), Hubdoc (document collection), Planday (workforce scheduling), and Syft (analytics). These are integrated into the Xero platform, with Melio retaining its brand in US payments.

Is Xero publicly traded?

Yes. Xero Limited trades on the Australian Securities Exchange under ticker XRO, its primary listing since 2018. It originally listed on the NZX in 2007 and has a market capitalization in the NZ$20 billion-plus range.

Who founded Xero?

Rod Drury and Hamish Edwards founded Xero in Wellington, New Zealand, in 2006. Drury, who self-funded early development from his AfterMail exit, served as CEO until 2018 and remains a major shareholder and director.

Where is Xero headquartered?

The company is headquartered in Wellington, New Zealand, with major offices in Auckland, Melbourne, London, Toronto, and Denver, and the Melio operation in New York.

How many brands does Xero own?

Five principal brands: the core Xero platform plus Melio, Hubdoc, Planday, and Syft, all acquired to extend the small business software ecosystem.

Who owns Xero?

Public shareholders own the company. Founder Rod Drury holds a significant individual stake, and institutional investors across Australia, New Zealand, and internationally hold the remainder. No controlling shareholder exists.

How much revenue does Xero make?

Xero reported operating revenue of NZ$2.753 billion for fiscal 2026 (year ended March 31, 2026), up 31 percent, with adjusted EBITDA of NZ$757.4 million and net profit of NZ$167.4 million.

Rod Drury and Hamish Edwards founded Xero in Wellington in 2006, writing the early code in Edwards's apartment. Drury had built and sold the email management company AfterMail to Quest Software in 2006, and he applied those proceeds to self-funding Xero's first years, an unusual bootstrapping move for a New Zealand startup that let him retain control while building cloud accounting when the category barely existed.

The company listed on the New Zealand Stock Exchange in 2007 at a valuation of NZ$55 million, one of the earliest software-as-a-service listings anywhere. The following decade was a land grab: Xero raced to build its cloud accounting franchise against incumbent desktop software (MYOB in Australasia, Sage in the UK, QuickBooks in the US) while expanding the partner-accountant channel that became its signature distribution advantage.

Geographic expansion defined the 2010s. Australia became the largest market, the UK built a strong franchise with Making Tax Digital driving cloud adoption, and the United States and Canada grew slowly against entrenched QuickBooks competition. Leadership transitioned in 2018 when Drury stepped aside as CEO, succeeded by Steve Vamos, who ran the company through the pandemic era before handing to Singh Cassidy in early 2023.

The company consolidated its listing on the ASX in 2018 while retaining a secondary NZX listing it later dropped, reflecting its evolution into an Australian-listing international tech company rather than a New Zealand domestic one. Market capitalization has ranged between NZ$20 billion and NZ$30 billion through the mid-2020s, making it one of Australasia's most valuable technology companies.

Fiscal 2026 (year ended March 31, 2026) delivered the strongest results in company history: operating revenue of NZ$2.753 billion, up 31 percent, adjusted EBITDA of NZ$757.4 million, net profit after tax of NZ$167.4 million, and 4.92 million subscribers. Growth was driven by price increases, subscriber additions, and the Melio payments business acquired in 2024.

Xero holds certified B Corporation status, achieved in 2020 and recertified since, making it one of the larger publicly traded B Corps. The certification covers the global company across all markets. The company also maintains carbon-neutral operations certification and publishes annual sustainability reporting.

Its social impact programs focus on small business support and sustainability accounting tools, including a free carbon accounting product for subscribers. The B Corp certification is independently verified through B Lab, making it a genuinely verified sustainability credential rather than self-reported claims.

Xero has collected extensive recognition as an employer and product, including Canstar's accounting software awards in Australia and New Zealand and consistent placement in regional best-employer lists. The company's app ecosystem and partner network have won industry awards, and it was named to TIME's list of influential companies. Product recognition from accounting industry bodies in its major markets recurs annually.

Xero's regulatory record is clean relative to its financial services peers, reflecting its software rather than regulated product model. The principal public debates concern pricing: repeated subscription price increases have drawn periodic customer complaints in Australia and New Zealand, though churn has remained low.

The Melio acquisition price of approximately US$2.5 billion attracted scrutiny when announced, as it represented a significant multiple of Melio's revenue and Xero's largest-ever deal. Analyst debate continues on whether the payments economics justify the outlay, an execution question rather than a controversy.