Airtable vs Xero: Revenue, Profit and Business Model
A full-year revenue figure is unavailable here for Airtable. Xero had ~$1.6B of annual revenue in FY2026 and ~$97.1M of net income.
Latest financial snapshot
Financial summary
Airtable
Airtable did not publish conventional annual revenue or net income while private. Bending Spoons said in August 2026 that Airtable's annual recurring revenue was growing more than 20% year over year and was approximately $480 million as of June 2026. Airtable's December 2021 Series F raised $735 million, brought total investment to $1.36 billion, and valued the company at $11 billion pre-money. The 2021 funding valuation is historical, not a current valuation.
Xero
For the year ended 31 March 2026 Xero reported operating revenue of ~$1.59 billion (NZ$2.75 billion), up 31%, net profit of ~$96.9 million (NZ$167 million), down 27% because of Melio acquisition costs, and free cash flow of ~$321 million (NZ$554 million). Subscribers rose 11% to 4.92 million and average revenue per customer rose 23% to NZ$55.44.
Revenue and profit by year
Airtable
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 run-rate | $480M | — | — | — | Source |
| FY2023 run-rate | $375M | — | — | — | Source |
| FY2021 run-rate | $85M | — | — | — | Source |
Xero
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$1.6B | ~$97.1M | 6.1% | +30.9% | Source |
| FY2025 | ~$1.2B | ~$132.1M | 10.8% | +22.7% | Source |
| FY2024 | ~$994M | ~$101.3M | 10.2% | +22.4% | Source |
| FY2023 | ~$811.9M | ~-$65.8M | -8.1% | +27.6% | Source |
| FY2022 | ~$636.2M | ~-$5.3M | -0.8% | — | Source |
Where the revenue comes from
Airtable
- Software subscriptions
Not formally reported
Paid plans provide higher limits and additional collaboration, administration, automation, app-building, support, and AI features. Airtable does not publish revenue by plan or product.
Xero
- Subscriptions and platform88
Recurring subscription revenue from accounting plans, add-ons and other platform services.
- Melio payments12
Transaction revenue from Melio's US bill pay and receivables platform, which contributed ~$193 million (NZ$332 million) in FY26.
Business model and strategy
Airtable
How it makes money
Airtable sells cloud software subscriptions. Its plans provide different collaboration, administration, automation, app-building, and AI capabilities, while a free plan supports initial use. Airtable said in December 2022 that enterprise customers represented the majority of revenue. Detailed segment revenue and profit figures are not publicly disclosed.
Growth strategy
Airtable shifted resources toward large enterprise customers in December 2022. It subsequently expanded its app-building and AI offerings, launching Cobuilder in 2024 and an AI-native product direction in 2025. Following the 2026 acquisition, Bending Spoons said it would invest in Airtable's product, support, and go-to-market operations.
Competitive advantage
Airtable combines familiar table and spreadsheet interactions with linked records, multiple views, automation, interfaces, and application-building tools. This lets business teams create workflows without starting with conventional software development. Its differentiation depends on product flexibility, governance, integrations, and the ability to support both self-service teams and enterprise deployments.
Xero
How it makes money
Xero sells monthly software subscriptions to small businesses, sole traders, and accounting and bookkeeping firms. The core product covers bank reconciliation, invoicing, bills, payroll in several markets and financial reporting, and plans are priced in tiers by market. Most customers reach Xero through accountants and bookkeepers, who adopt it for their practice and move clients onto it.
Growth strategy
Xero's strategy centres on three jobs for small businesses (accounting, payments and payroll) in three main markets (Australia and New Zealand, the UK and the US). In the US it is combining Xero and Melio under one leadership team, adding online bill payments inside Xero and embedded payroll. It is also building AI features, including its JAX assistant, into the core product.
Competitive advantage
Xero's main advantage is its accountant and bookkeeper channel in Australia, New Zealand and the UK, which brings small business clients onto the platform. Melio adds a US payments product that it owns.
Questions about Airtable vs Xero
Which company has higher revenue — Airtable or Xero?
Xero had ~$1.6B (FY2026). A comparable annual revenue figure for Airtable was unavailable here.
What is the market cap of Airtable vs Xero?
Xero has a market capitalisation of $6.5B. A public market cap figure for Airtable was not available (it may be privately held).
How does revenue per employee compare for Airtable and Xero?
Xero generates $363k / employee in revenue per employee. A comparable figure for Airtable requires matching employee and revenue data from the same reporting period.
How do Airtable and Xero make money?
Airtable and Xero generate revenue in fundamentally different ways. Airtable: Airtable sells cloud software subscriptions. Xero: Xero sells monthly software subscriptions to small businesses, sole traders, and accounting and bookkeeping firms.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Airtable vs Xero overview