The chief executive of billion-dollar software start-up Employment Hero says he has no plans to take the company public despite annual revenues rising above key benchmarks that suggest it is ready for a listing.

Ben Thompson said the human resources software firm had recorded its first profitable month in December, and annual recurring revenues – a preferred measure for subscription-based companies – had reached $250 million. Despite this, Mr Thompson said there were better options for Employment Hero’s future than a listing on the ASX or Nasdaq.