Cloud accounting software company, Xero, says it will launch fully into the US market in July to coincide with the first round of the America's Cup.
Shares in the company fell 17 cents to $11.15 each at the close of market last week after it announced it expected its loss to almost double to $15 million for the year to the end of March.
However it's anticipating operating revenue to double to $39 million.
Chief executive Rod Drury said Australia is its big revenue market for the next 12 months but its goal is to prove it can make it in the United States.
He said in the US people have other web applications such as gmail, document storage and Basecamp.
Mr Drury said part of the strategy Xero can use in the US, which were not available to the company in Australia and New Zealand, is linking the product to some of those brands.
Xero has already announced that it's working with US storage company Box which has more than 5 million users and that will be launched shortly.
Mr Drury said he hopes entry to the United States will see Xero's growth rate increase even more quickly.
He said Xero is currently focusing on growing its customer base, making sure it has the capacity to manage 1 million customers.
Mr Drury said the company wants to break even, but currently it's wanting to hire good people and grow the business.
"We could make a profit next year if we slowed down but we're not planning to do that," he said.
