Subscriber Growth - Karooooo's subscribers increased 17% year-over-year to 2.22 million as of November 30, 2024[1] - Cartrack's net quarterly subscriber additions rose 15% year-over-year to 86,617[3] - Cartrack's subscriber base in South Africa increased by 16% to 1,675,473 as of November 30, 2024, with subscription revenue growth of 14%[56] - In the Asia Pacific, Middle East, and United States regions, subscribers grew by 20% to 264,342, resulting in a 21% increase in subscription revenue[59] - Cartrack's European subscriber count rose by 19% to 191,781, translating to a 14% growth in subscription revenue[61] - The number of subscribers in Africa (excluding South Africa) increased by 16% to 91,631, although subscription revenue remained stagnant due to billing suspensions in Mozambique[63] Revenue Growth - Karooooo's subscription revenue increased 14% to ZAR1,032 million compared to ZAR904 million in Q3 2024[5] - Cartrack's subscription revenue also grew 14% to ZAR1,029 million from ZAR900 million in Q3 2024[5] - Karooooo's total revenue increased 14% to ZAR3,348 million for the nine months ended November 30, 2024, compared to ZAR2,933 million in the previous year[25] - Total revenue for the three months ended November 30, 2024, was ZAR 1,159,390, compared to ZAR 1,080,143 for the same period in 2023, reflecting a growth of 7.3%[83] - Subscription revenue for the nine months ended November 30, 2024, reached ZAR 2,981,695 thousand, a 15% increase compared to ZAR 2,600,643 thousand in the previous year[102] Profitability Metrics - Adjusted EBITDA for Karooooo increased 17% to ZAR501 million, while Cartrack's Adjusted EBITDA rose 10% to ZAR491 million[21] - Operating profit for Karooooo increased 18% to ZAR325 million, with earnings per share rising 21% to ZAR7.68[18] - Adjusted EBITDA for Karooooo grew 17% to ZAR1,430 million, while Cartrack's Adjusted EBITDA rose 11% to ZAR1,397 million[37] - The profit margin for the three months ended November 30, 2024, improved to 21%, up from 18% in the same period of 2023[94] - Adjusted basic and diluted earnings per share for the nine months ended November 30, 2024, were ZAR 22.19, compared to ZAR 17.04 in the prior year, marking a 30.1% increase[96] Operating Expenses - Karooooo's operating expenses increased 15% to ZAR1,416 million, primarily driven by investments in infrastructure and headcount[30] - Cartrack's sales and marketing expenses increased 29% to ZAR453 million, reflecting a focus on customer acquisition[32] Cash Flow and Financial Position - At November 30, 2024, Karooooo reported a net cash balance of ZAR856 million, up from ZAR436 million in February 2024[49] - Total cash and cash equivalents at the end of the period were ZAR 855,926 thousand, an increase from ZAR 781,980 thousand at the end of the same period last year[91] - For the three months ended November 30, 2024, net cash flows from operating activities were ZAR 442,420 thousand, a slight decrease of 0.1% compared to ZAR 442,851 thousand in the same period of 2023[91] - Free Cash Flow for the three months ended November 30, 2024, was ZAR 187,609 thousand, representing an increase of 15.5% from ZAR 162,451 thousand in the prior year[93] Strategic Focus and Guidance - The company reaffirmed its FY25 outlook for subscribers, subscription revenue, and adjusted EPS[3] - Southeast Asia is identified as a key growth opportunity, with a strong focus on increasing sales and marketing efforts starting September 2024[60] - The company emphasizes the importance of acquiring new customers and retaining existing ones as a key growth strategy[124] - The company is focused on international expansion and the introduction of new solutions to increase sales to existing customers[124] Risks and Forward-Looking Statements - The company acknowledges risks related to geopolitical tensions, macroeconomic events, and competition from industry consolidation[124] - The company does not undertake any obligation to update forward-looking statements based on new information or future developments[125] Financial Metrics and Calculations - The company calculates the Lifetime Value (LTV) of a subscriber by multiplying the Average Revenue Per User (ARPU) with the expected contract life cycle months and the subscription revenue gross margin percentage[118] - The Cost of Acquiring a Subscriber (CAS) is calculated as the sum of sales and marketing expenses, sales commissions, and the cost of installing IoT equipment, divided by the average subscriber base for the period[118] - The Cost of Servicing a Subscriber (CSS) is determined by operating expenses excluding estimated general business expansion costs, plus costs of sales related to subscription revenue, less all costs used to calculate CAS, divided by the average subscriber balance for the period[119] - The long-term unit economics operational profit is estimated by multiplying the expected life cycle of a subscriber on the connected cloud by ARPU, minus CAS and CSS[120] Non-IFRS Measures and Market Data - Non-IFRS financial measures are included in the announcement, which may exclude significant items in understanding financial results[126] - The company relies on third-party sources for market and industry data, which may not be independently verified and are subject to uncertainty[127]

Core Insights - The fleet management systems in Southeast Asia are projected to grow at a CAGR of 13.7%, increasing from 2.8 million units in 2023 to 5.4 million by 2028 [3][6] - The penetration rate of fleet management systems among business fleet vehicles is expected to rise from 15.7% in 2023 to 25.7% in 2028 [3] Market Overview - The fleet management market in Southeast Asia has shown resilience and growth following setbacks during the pandemic, driven by economic growth, competition in transportation and logistics, and increased awareness of fleet telematics [2][4] - Key markets in Southeast Asia include Indonesia, Malaysia, Singapore, Thailand, and the Philippines, with varying regulations and economic growth impacting market dynamics [4] Adoption Trends - A significant portion of fleet management deployments consists of basic tracking systems, but there is a growing trend towards the adoption of more advanced fleet management solutions across the region [5] - Singapore is noted for its higher adoption of advanced fleet management solutions compared to other countries in the region [5] Key Players - Major providers of fleet management solutions in Southeast Asia include Jimi IoT, Cartrack (Karooooo), and TransTRACK, each with over 100,000 active units [6] - Other notable vendors with significant market presence include Katsana, GPSiam, EasyGo, Astrata Group, and V3 Smart Technologies, along with international players like Gurtam, Geotab, and SquareGPS [7][8] Market Insights - The report includes insights from interviews with market leaders, data on vehicle populations, and a comprehensive overview of the fleet management value chain [9] - Key questions addressed in the report include the leading local and international providers, market hurdles for foreign players, pricing levels, and future industry trends [10] Key Topics Covered - The report covers various aspects of fleet management solutions, including infrastructure, vehicle management, driver management, operations management, and regulatory compliance [11] - Market forecasts and trends are analyzed, focusing on commercial vehicle fleets, vendor market shares, and future industry developments [12]

Company Overview - Karooooo (NASDAQ: KARO) was founded in South Africa and has experienced significant growth over the past five years, increasing subscribers in four key regions [1] - The company expanded into Asia in 2016, building on its success in South Africa [1] Analyst Background - The analyst has a strong educational background in accounting, holding both a bachelor's and a post-graduate degree, and has completed the necessary exams to qualify as a chartered accountant [1] - The analyst has experience in various industries, including pharmaceuticals and financial due diligence, and currently focuses on equity analysis across multiple regions including the US, South Africa, Australia, and Israel [1] - The current industry focus is on renewable energy, with additional interests in technology, financial, and utilities sectors [1] Investment Strategy - The analyst invests in both large-cap value stocks and smaller growth stocks, particularly on the Johannesburg Stock Exchange (JSE) [1] - The analyst is also a director of an agricultural company in South Africa, indicating a diverse investment portfolio [1]

Core Insights - The article emphasizes the importance of consulting a registered financial advisor before making investment decisions, highlighting that the content is meant for discussion rather than financial advice [2][3] Group 1 - The article does not contain any specific company or industry analysis, focusing instead on the nature of the content provided by Seeking Alpha [2][3]

Group 1 - Karooooo Ltd. reported Q2 FY 2025 results with mixed outcomes, showing growth in their Cartrack subscription service and beating EPS expectations at $0.42, exceeding by $0.03 [1] - The company's revenue for the quarter was $62.69 million, which fell short of expectations by $853.9 thousand [1]

Karooooo Ltd. (KARO) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 5.26%. A quarter ago, it was expected that this company would post earnings of $0.36 per share when it actually produced earnings of $0.39, delivering a surprise of 8.33%. Over the last four quarters, the company ha ...

SINGAPORE (October 15, 2024) - Karooooo Limited ("Karooooo") reported strong results and a positive outlook in second quarter ("Q2 2025") and Half-Year ("HY 2025") ended August, 31 2024. Karooooo owns 100% of Cartrack and 74.8% of Karooooo Logistics, (collectively, "the group"). Karooooo Adjusted Earnings Per Share increased 31% Y/Y to ZAR7.35 for Q2 2025, driven by healthy subscription revenue growth and higher gross margins. Exhibit 99.1 "We delivered another strong quarter of profitable growth in the sec ...

Shares of Karooooo Ltd (KARO, Financial) surged 5.86% in mid-day trading on Oct 2. The stock reached an intraday high of $40.17, before settling at $39.17, up from its previous close of $37.00. This places KARO 10.56% below its 52-week high of $43.80 and 110.70% above its 52-week low of $18.59. Trading volume was 8,565 shares, 30.5% of the average daily volume of 28,089. Wall Street Analysts Forecast Based on the one-year price targets offered by 2 analysts, the average target price for Karooooo Ltd (KARO, ...

Exhibit 99.1 Karooooo Ltd. Interim Report (unaudited) for the three months ended May 31, 2024 Contents | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | Management's Discussion and Analysis of Financial Condition and Results of Operations | 1 | | Unaudited Interim Condensed Consolidated Statements of Financial Position as at the quarter ended May 31, 2024 and 2023 | F-2 ...

As filed with the Securities and Exchange Commission on June 13, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the financial year ended February 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition pe ...