The shares were had dropped from an all-time high of $45 in March 2014 to $13 per share just before the interview. Drury repeated the company's position it has plenty cash and that it could operate for three years on its stash, without going public in the United States. But he also talked of raising $300 million "or so" in this country at some point.

Xero had originally hoped for an IPO here before its fiscal year ended March 31. Now, it says such an offering will not happen until after the year ends at the end of next march. However, Drury said the company will exceed the $100 million in revenue (U.S.) viewed as needed to have a successful offering.

Interviewer Andrew Patterson asked Drury about whether Xero was falling short in the U.S.  "I don't know where this idea [comes from] that we are not executing well in the U.S.," Drury replied. "The only speed bumps we have had is when we haven't had the right people." The includes an North American CEO who lasted six months and a global CFO based in the U.S. who stayed eight weeks.