Welcome to our dedicated page for Karooooo news (Ticker: KARO), a resource for investors and traders seeking the latest updates and insights on Karooooo stock.
Karooooo Ltd (KARO) delivers cloud-based mobility analytics and smart transportation solutions through its Cartrack platform and logistics services. This news hub provides official updates and analysis for stakeholders tracking the company's operational developments and market position.
Access timely reports on strategic initiatives, financial performance, and technology innovations that shape Karooooo's role in enterprise mobility solutions. Our curated collection includes earnings disclosures, partnership announcements, product enhancements, and industry recognition updates.
Key focus areas include fleet management advancements, data analytics platform upgrades, and logistics optimization developments. Investors and industry observers will find essential updates on operational milestones that demonstrate Karooooo's commitment to transforming transportation through real-time data insights.
Bookmark this page for structured access to verified corporate communications. Check regularly for updates reflecting Karooooo's progress in enabling data-driven decision-making for connected vehicle ecosystems and smart transportation networks.
Karooooo (NASDAQ: KARO) has announced a secondary public offering of ordinary shares held by CEO Isaias (Zak) Jose Calisto. The offering aims to generate $75 million in gross proceeds, with underwriters having a 30-day option to purchase additional shares worth $11.25 million. Karooooo will not receive any proceeds from the sale but will bear associated costs. UBS Investment Bank and William Blair are acting as joint active lead book-running managers, while Raymond James and Standard Bank are joint book-running managers. The offering will be made through a prospectus and prospectus supplement, with the Registration Statement on Form F-3 already declared effective by the SEC on July 22, 2024.
Karooooo, owner of Cartrack and 74.8% of Karooooo Logistics, reported strong Q1 2025 results with continued growth at scale. Highlights include:
- Cartrack subscribers up 17% to 2,047,442
- Net subscriber additions increased 88% to 75,910
- Operating profit grew 34% to ZAR300 million
- Earnings per share up 41% to ZAR7.17
- Cartrack revenue grew 15% to ZAR981 million
- Subscription revenue up 15% to ZAR960 million (98% of total revenue)
- Karooooo Logistics revenue grew 63% to ZAR101 million
The company maintains a positive outlook, citing expansion, platform enhancements, and potential improved economic conditions in South Africa. A dividend of USD1.08 was declared for August 2024.
Karooooo (NASDAQ: KARO), owner of Cartrack Holdings, has announced the release of its First Quarter 2025 Financial Results on July 18, 2024, after 04:00 p.m. Eastern Time. The company will host a Zoom webinar on July 19, 2024, at 08:00 a.m. Eastern Time for investors, analysts, and media.
Additionally, Karooooo's annual general meeting is scheduled for August 29, 2024, at 12:00 South African time, to be held via electronic communication. The Notice of Annual General Meeting and Annual Financial Statements will be distributed to shareholders around August 13, 2024, in compliance with Singapore Companies Act requirements.
Karooooo, the parent company of Cartrack, reported strong Q4 2024 and FY 2024 results, showing notable growth in customer acquisition and financial performance. Year-over-year, Cartrack subscribers rose by 15% to 1.97 million, with net subscriber additions up 65%. The company's Q4 operating profit increased by 25% to ZAR296 million, and earnings per share surged 45% to ZAR6.81. For the full year, EPS climbed 24% to ZAR23.85. Annual Recurring Revenue grew by 17% to ZAR3,769 million.
Cartrack's revenue and subscription revenue both grew by 17%, reaching ZAR3,614 million and ZAR3,523 million, respectively. Subscription revenue comprised 97% of the total revenue. Operating profit for the year also rose by 17% to ZAR1,069 million. Additionally, Cartrack logged a record EBITDA of ZAR1,710 million with an EBITDA margin of 47%. Karooooo Logistics saw a 77% increase in revenue to ZAR317 million, driven by its scalable delivery-as-a-service model.
Karooooo's Operations Cloud supports the digital transformation of over 121,000 commercial clients, boasting a 95% retention rate. The CEO highlighted the company's strong market position, robust balance sheet, and healthy cash position as key growth drivers.
Karooooo (NASDAQ: KARO) announced the release of its Fourth Quarter and Full Year 2024 Financial Results on May 15, 2024. The Company will host a Zoom webinar on May 16, 2024, providing an opportunity for investors, analysts, and the media to participate.
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