Xero has recorded a massive increase in net loss after tax, up 81% to $NZ 44.327 million ($AU 40.9 million) from $NZ 24.471 million ($AU 22.579 million) in the same period the year before.
This despite total paying subscribers jumping to 593,000 at the end of September, up 60% from from September 2014.
Total revenue for the six months to September matched subscriber numbers. Up 71% from the previous year, to $NZ 92.864 million ($AU 85.667 million).
Cash outflows have risen as the company has invested in product and distribution.
Spending on product design and development almost double, up to $NZ 34.454 million ($AU $31.7798 million), from $NZ 17.221 million ($AU 15.884 million) in the same period last year.
Xero plans to make this up as these investments, and economies of scale push up margins.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.