Karooooo’s Strong Momentum in Number of Subscribers Carried Through for the 2022 Financial Year

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04/12/2022 - 09:41 AM

Fourth Quarter and full year 2022 Financial Results to be reported on April 27, 2022

SINGAPORE--(BUSINESS WIRE)-- Karooooo Ltd. (“Karooooo”) (NASDAQ: KARO), which owns 100% of Cartrack Holdings (“Cartrack”), is a leading global provider of an on-the-ground operational IOT SaaS cloud that maximizes the value of transportation, operations and workflow data by providing insightful real-time data analytics to over 1,525,000 connected vehicles and equipment.

Strong momentum in the number of subscribers carried through for the 2022 financial year (“2022”), ended February 28, 2022.

The growing demand by small to large enterprises wanting to digitally transform their business to remain competitive prevailed throughout 2022. Despite persistent changing and challenging operating conditions, Karooooo’s operational resilience, coupled with its profitable and robust business model drove new customer additions, delivering continuous growth in the total number of subscribers (connected vehicles and equipment on our platform).

1,525,972 subscribers in total for 2022, up 17% (2021: 1,306,000)
219,972 net subscriber additions for 2022, up 23% (2021: 179,485)

“It is encouraging that in our first year as a NASDAQ listed company, our subscriber growth for 2022 was in line with our growth outlook. I am pleased with Karooooo’s resilience and execution despite the persistent operating headwinds resulting from the Covid-19 pandemic during the period,” commented Karooooo founder CEO, Zak Calisto.

Karooooo to report Fourth Quarter and Full Year 2022 Financial Results on April 27, 2022

Karooooo will report financial results for the fourth quarter and full year ended February 28, 2022 on Wednesday, April 27, 2022 after 04:00 p.m. Eastern Time. Karooooo will host a corresponding Zoom webinar on Thursday, April 28, 2022 at 08:00 a.m. Eastern Time (02:00 p.m. South African time; 08:00 p.m. Singaporean time). Investors are invited to join the Zoom webinar at: https://us02web.zoom.us/j/89427800885

Webinar ID: 894 2780 0885

Telephone:

US (New York) Toll-free: +1 646 558 8656
South Africa Toll-free: +27 87 551 7702

Replay available at www.karooooo.com approximately three hours after the live event.

About Karooooo

Karooooo, headquartered in Singapore, is a leading global provider of an on-the-ground operational IOT SaaS cloud that maximizes the value of transportation, operations and workflow data by providing insightful real-time data analytics to over 1,525,000 connected vehicles and equipment. For more information, visit www.karooooo.com.