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. reports developments in cloud-based mobility and operational intelligence for commercial fleets, connected vehicles and other assets. The company owns Cartrack and a majority stake in Karooooo Logistics, using its platform to support fleet maintenance, fuel management, asset utilization, workforce management, logistics, safety, compliance, risk management and environmental monitoring.
Recurring news includes financial-result releases, SaaS subscription and ARR trends, active-subscriber growth, product adoption such as video and Cartrack Tag solutions, fleet-telematics integrations, market milestones and partnership activity tied to Cartrack’s operating platform.
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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