Xero Shoes grows income 36 percent year-over-year

BROOMFIELD — Feel the World Inc., which does business as Xero Shoes, filed its annual report for 2017 with the U.S. Securities and Exchange Commission, showing it grew its net income from $93,050 at the end of 2016 to more than $126,000 at the end of 2017.

Xero Shoes, which makes minimalist footwear designed for natural movement,

grew its revenue from $2.7 million at the end of 2016 to $5.5 million at the end of last year. Earnings per share stayed flat year-over-year at 2 cents.

Total sales grew 102 percent year-over-year, from $2.7 million in 2016 to $5.5 million at the end of 2017. Direct-to-consumer sales represents about 70 percent of the business, up from 63 percent of the business in 2016. Sales through Amazon grew from 16 percent in 2016 to 17.5 percent in 2017. And sales through wholesalers and distributors fell from 20 percent of the business in 2016 to just under 13 percent in 2017.

The company also grew its research and development year-over-year. In 2016, the company spent a little more than $76,000 on research. In 2017, it spent $149,000.

In March 2017, Xero launched an equity crowdfunding campaign through a Regulation A offering. The company was authorized to raise up to $3 million by selling 500,000 shares of Class A common stock and 250,000 Class B common stock at $4 per share. Xero raised a little more than $1 million in gross investor contributions.

At the end of 2017, Xero said it had a full-time staff of 20 people.

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