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, parent company of Cartrack, reported a strong Q2 2023 with revenue up 30% to ZAR859 million, compared to ZAR659 million in Q2 2022. Adjusted EBITDA increased 27% to ZAR377 million, and earnings per share rose 28% to ZAR4.93. The company achieved a record high in net cash, exceeding ZAR1 billion, reflecting robust cash flow generation. Net subscriber additions rose 36% year-over-year, particularly strong in Southeast Asia, despite challenges in South Africa. Karooooo's strong balance sheet positions it well for future growth, driven by increasing demand for software solutions.
Karooooo reported strong Q1 2023 results, with revenue climbing 28% to ZAR801 million, up from ZAR626 million in Q1 2022. Profit increased by 44% to ZAR156 million, and earnings per share rose 42% to ZAR4.96. The company generated robust free cash flow, ending the quarter with ZAR854 million in cash, supporting a declared interim dividend of 60 U.S. cents. Notably, Coca-Cola selected Cartrack as a technology partner in the Philippines. Karooooo remains well-positioned for future growth despite global economic challenges.
Karooooo Limited (NASDAQ: KARO) has filed its annual report on Form 20-F for the fiscal year ending February 28, 2022, with the SEC on June 9, 2022. The report includes audited financial statements and can be accessed via its investor relations website. Karooooo provides an IoT SaaS cloud platform for over 1.5 million connected vehicles, serving more than 88,000 commercial customers. Its services optimize operations, enhance safety, reduce costs, and ensure compliance with regulations.
Karooooo Limited (KARO) reported a 20% revenue increase for the year ending February 28, 2022, with a 17% growth in subscriber base. The company attributes its success to a resilient operating strategy and strong customer acquisition, achieving over 88,000 commercial customers. Net cash surged to ZAR718 million from ZAR76 million in the previous year. A dividend of 60 U.S. cents per share was declared, reflecting its profitable business model. The company continues to focus on innovation and strategic partnerships to drive future growth.
Karooooo Ltd., listed on NASDAQ as KARO, will report its Fourth Quarter and Full Year 2022 Financial Results on April 27, 2022. The company experienced 17% growth in total subscribers, reaching 1,525,972, with net new additions of 219,972, a 23% increase from the previous year. CEO Zak Calisto highlighted the resilience of the business model amid ongoing Covid-19 challenges. Investors can join a Zoom webinar on April 28, 2022, for further insights.
Karooooo Ltd. reported Q1 2022 financial results with significant subscriber growth, achieving 1,366,470 total subscribers, up 21% year-over-year. Net subscriber additions soared 760% to 60,470. Total revenue increased 17% to ZAR626 million, while subscription revenue rose 15% to ZAR606 million. However, operating profit decreased by 8% to ZAR168 million due to increased costs in sales, marketing, and R&D, as well as a higher tax rate. The Adjusted EBITDA margin fell to 44% from 50% in Q1 2021, attributed to strategic growth investments. The company remains optimistic, anticipating subscriber growth between 1.5M and 1.6M for FY2022.
Karooooo Ltd. (NASDAQ: KARO) will report its financial results for Q1 2021 on July 19, 2021 at 04:00 PM EST. A conference call will follow on July 20, 2021 at 08:00 AM EST. Karooooo operates a leading mobility SaaS platform, providing real-time data analytics for smart transportation, serving over 1.375 million connected vehicles and more than 75,000 commercial customers globally.
Karooooo Ltd. (NASDAQ: KARO) has filed its annual report on Form 20-F, including audited financial statements for the fiscal year ending February 28, 2021, with the SEC on June 28, 2021. The company provides a mobility SaaS platform that enhances the value of automotive data for smart transportation with over 1.375 million connected vehicles.
The report is accessible on Karooooo's investor relations website and the SEC's site. Shareholders can request a free hard copy of the annual report containing consolidated financial statements.
Karooooo Ltd. (NASDAQ: KARO) has appointed Kim White as an independent non-executive director and member of the Audit and Risk Committee, effective immediately. White brings over 20 years of accounting and auditing experience, including her previous role as an independent director at Cartrack Holdings. Founder and CEO Zak Calisto expressed confidence in White's ability to provide valuable insights due to her extensive knowledge of the company and industry. Karooooo operates a leading mobility SaaS platform, servicing over 1.375 million vehicles and more than 75,000 commercial customers.
Karooooo Ltd reported strong financial results for Q4 and FY 2021, highlighting resilience amidst the pandemic. The company added 59,911 new subscribers in Q4, a 59% increase from Q4 2020, contributing to a total of 1.3 million subscribers. Total revenue grew 21% to ZAR 616 million, with subscription revenue up 14% to ZAR 574 million. Adjusted net income rose 12% to ZAR 128 million. Despite COVID-19 challenges, Karooooo's NASDAQ listing raised USD 33.8 million for growth initiatives, positioning the company for ongoing expansion in the mobility SaaS sector.
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