The cloud-based accounting firm yesterday reported its operating revenue had increased by 67% in the year ended March to $207.1 million.
Global year-on-year revenue growth of 95% was reported in international markets with growth of 57% in Australia and New Zealand.
Xero reported it had $1 trillion of transactions recorded on its cloud platform in the past 12 months.
At balance date, the company had cash and cash equivalents and short-term deposits of $184 million.
However, the company's loss widened to $82.5 million for the 12 months from a loss of $69.5 million in the previous corresponding period.
Mr Timms said people investing in Xero were buying the growth story.
People would acknowledge the growth but say that at some stage, they would like to see a profit on the bottom line.
"Xero's challenge is to turn its growth into a profit for shareholders,'' he said.
As was typical for this point in the year, Xero did not provide any specific earnings guidance, but did note its improving margin trends were to continue going into 2017 and it expected to be able to reach breakeven with its existing cash balance.
Specific guidance was likely to be provided in July at the annual meeting and after the key tax-year-end selling season in Australia, Mr Timms said.
Xero chief executive Rod Drury said the company had extended its position globally and was a leader in the small business cloud accounting software market in Australia, New Zealand and the United Kingdom by subscriber numbers.
At balance date, Xero had 717,000 subscribers globally, with 242,000 added in the 12 months to March.
"Xero has well and truly become the heart of thousands of small businesses around the world.''
For many customers, the Xero platform was not an isolated accounting ledger - it had become integrated into their business alongside the dozens of other tools they used daily to get the job done, he said.
"We're not burdened by having to protect a legacy desktop position. We are fully focused on unleashing the next wave of innovation - based on deep analytics - to drive better business outcomes.''
Underpinning the innovation and move to scale was the migration of Xero's cloud platform to Amazon Web Services, Mr Drury said.
