Karooooo Ltd. Reports Operating Results for the Fourth Quarter and Year Ended 28 February 2023
May 08, 2023 at 07:05 pm EDT
Share
Karooooo Ltd. reported operating results for the fourth quarter and year ended 28 February 2023. For the quarter, the company's Cartrack subscribers were 1,717,077, up 13% (fourth quarter 2022: 1,525,972). Net Cartrack subscriber additions of 38,471, down 31% (fourth quarter 2022: 55,587).
For the full year 2023, the company's Cartrack subscribers were 1,717,077, up 13% (year 2022: 1,525,972). Net Cartrack subscriber additions were 191,105, down 13% (year 2022: 219,972).
Karooooo Ltd. is a Singapore-based company, which is a provider of an on-the-ground operations cloud that maximizes the value of data. The Company operates through three segments: Cartrack, Carzuka, and Karooooo Logistics. Cartrack is a provider of an on-the-ground operational Internet of Things software-as-a-service (SaaS) cloud that maximizes the value of transportation, operation, and workflow data by providing insightful real-time data analytics to connected vehicles and equipment. Cartrack also includes systems integration, fleet administration, field worker management, video-based safety, risk mitigation, and delivery management. Carzuka is a physical and e-commerce vehicle buying and selling marketplace that allows customers to source, buy and sell vehicles. Karooooo Logistics provides a software application enabling the management of last-mile delivery and general operational logistics.