• Revenue up 23% to NZ$2.1 billion
• Adjusted EBITDA up 22% year-over-year
• Subscriber growth of 254,000 (414,000 excluding long idle subscriptions)

Xero Limited (ASX: XRO) has delivered a strong financial performance for the 2025 financial year, demonstrating macro-resilient growth and effective execution of its strategy. Revenue increased 23% to NZ$2.1 billion, enabling the company to again deliver strong EBITDA growth and a greater than Rule of 40 outcome (44.3% in FY25). Xero has achieved this while maintaining strong momentum across its strategic pillars, including a focus on improving its offerings for the three most critical jobs for small businesses - accounting, payroll and payments - in its three largest markets: Australia, the UK and the US. Key highlights include the launch of Xero Simple to support UK accountants and bookkeepers with Making Tax Digital for Income Tax, enhancements to the US product offering, and the acquisition of Syft to enhance Xero's insights, reporting and analytics offering for customers globally. Xero continues to invest in its product and people, and maintain operating discipline to deliver on its aspirations.

Xero reported operating revenue of NZ$2.1 billion for the 12 months ended 31 March 2025, up 23% year-over-year (20% in constant currency). Adjusted EBITDA was NZ$641 million, up 22% year-over-year.