Xero is about mid-way through its annual 16 roadshows around the country, targeting not only small to medium enterprises (SMEs), but expansion into the southern agri-sector.
Xero's NZ country manager Craig Hudson said since its end of year March report, New Zealand subscriptions had risen from 246,000 to 250,000.
''It's great to have hit that quarter-million milestone, about half of the SMEs [in New Zealand],'' Mr Hudson said.
''Between us [New Zealand] and Australia we're expanding rapidly; it's going gang-busters,'' he said in an interview.
For its year to March, Xero had gained more than 318,000 subscribers to hit just over 1 million worldwide; New Zealand's 250,000, Australia 446,000, the UK 212,000, the US 93,000 and the rest of the world 39,000.
Xero had about 50,000 customers five years ago.
Despite revenue of $295.4 million last year, up 16% on a year earlier, Wellington headquartered Xero is yet to post a profit, losing $69.1 million last year, but analysts are expecting it to break even in full year 2019.
Craigs Investment Partners broker Peter McIntyre said in recent research that despite Xero still making an operation loss, its gross margins were continuing to improve as revenue growth kept building.
Mr McIntyre said a cashflow break-even position would be achieved once revenue growth grew quicker than costs, meaning its margins would improve.
''This leverage has begun to develop in Xero's more mature markets of New Zealand and Australia,'' Mr McIntyre said.
Xero's entry into the US market had not gone smoothly, having invested heavily in sales and marketing, and its competitor Inuit ''has proved a tough customer'', Mr McIntyre said.
However, Mr McIntyre said once the UK and US markets ''began to mature'', Xero's business model had the potential to become highly profitable over the long term.
Mr Hudson said the roadshow workshops were to help Xero's accounting partners understand the company's future, to become product experts and improve business efficiency for the SMEs.
Xero had joined with farm accounting software business Figured NZ two years ago to service the agri-sector, looking after finance accounting and on-farm management, respectively.
Mr Hudson
said while subscribers in the agri-sector numbered just 65,000 of the total 250,000 in New Zealand, it was a ''massive sector'', given its representation in national GDP data.
''There's massive opportunities in the South island for gaining [productivity] efficiencies, using technology to track everything,'' he said.
Mr Hudson said the 12-person roadshow would include Queenstown for the first time, on August 24, following Invercargill on the 22.
