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, 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.
Karooooo Limited (NASDAQ: KARO), which owns Cartrack Holdings, is set to announce its Fourth Quarter and Full Year 2023 Financial Results on May 8, 2023, post market close at 04:00 p.m. Eastern Time.
A Zoom webinar for investors and analysts will be hosted the following day, May 9, 2023, at 08:00 a.m. Eastern Time, offering an opportunity for participation via a designated link.
The conference call can be accessed via telephone in the US and South Africa. A replay of the session will be available on the company’s website approximately three hours after the live event concludes.
Karooooo, the parent company of Cartrack, reported strong results for Q3 2023, ending November 30, 2022. Total revenue surged by 29% to ZAR930 million, up from ZAR720 million in Q3 2022. Despite a focus on future growth investments, earnings per share remained stable at ZAR4.70. The company boasts a robust SaaS model, generating record free cash flow with net cash increasing to ZAR819 million. Over 100,000 active customers are using its Operations Cloud, driving strong subscriber growth, with Cartrack adding over 78,000 new subscribers. A cash dividend of USD18.6 million was also paid out during the quarter.
FAQ
What is the current stock price of Karooooo (KARO)?
What is the market cap of Karooooo (KARO)?
