Operator

Thank you for standing by, and welcome to the Xero Limited 2026 Full Year Results Conference Call. I am joined by Xero's Chief Executive Officer, Sukhinder Cassidy; and Chief Financial Officer, Claire Bramley.[Operator Instructions].

I would now like to hand the call over to Sukhinder Cassidy, Chief Executive Officer of Xero. Please go ahead.

Sukhinder Cassidy
Chief Executive Officer

Good morning from Sydney, Australia. Thank you for joining our investor briefing today covering Xero's financial and operating results for the full year ending the 31st of March 2026. I'm Sukhinder Singh Cassidy, CEO of Xero, and I'm joined by our CFO, Claire Bramley.

In FY '26, Xero delivered strong revenue growth of 31% added more than 500,000 new customers and generated $757 million in adjusted EBITDA. We did this while closing and integrating Melio, which speaks to what this business can do when strategy and execution are alive.

There are 3 key themes to our FY '26 performance. First, sustained revenue performance, strong EBITDA outcomes and a U.S. business that is now clearly accelerating.

Second, payments and AI innovation both scaling fast, which is deepening customer penetration and delivering real measurable value for users now and has tremendous potential going forward. Third, continued capital and