The market value of cloud accounting software company Xero is under pressure as investors question the viability of software companies in general as AI agents become more sophisticated.

Despite steady growth in customer numbers, Xero’s share price has seen a steady decline since it was knocked off its peak of A$196.52 in late June 2025.

Xero’s share price fell more than a third from the start of the year with its latest ASX traded price around A$70.

The company’s full year net profit fell 27 percent to NZ$167.4 million, for the period ended March, though the underlying profit was up 18 percent to $757.4m, with revenue growth of 31 percent to $2.75 billion.

The Wellington-headquartered business had grown into a global business with the offer…