Karooooo’s Strong Momentum in Number of Subscribers Carried Through for the 2022 Financial Year

Rhea-AI Summary

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.

Positive

• 17% increase in total subscribers to 1,525,972 for 2022.
• Net subscriber additions rose by 23% to 219,972 for 2022.
• Operational resilience demonstrated despite ongoing challenges.

Negative

• None.

Fourth Quarter and full year 2022 Financial Results to be reported on April 27, 2022

SINGAPORE--(BUSINESS WIRE)-- Karooooo Ltd. (“Karooooo”) (NASDAQ: KARO), which owns 100% of Cartrack Holdings (“Cartrack”), is a leading global provider of an on-the-ground operational IOT SaaS cloud that maximizes the value of transportation, operations and workflow data by providing insightful real-time data analytics to over 1,525,000 connected vehicles and equipment.

Strong momentum in the number of subscribers carried through for the 2022 financial year (“2022”), ended February 28, 2022.

The growing demand by small to large enterprises wanting to digitally transform their business to remain competitive prevailed throughout 2022. Despite persistent changing and challenging operating conditions, Karooooo’s operational resilience, coupled with its profitable and robust business model drove new customer additions, delivering continuous growth in the total number of subscribers (connected vehicles and equipment on our platform).

• 1,525,972 subscribers in total for 2022, up 17% (2021: 1,306,000)
• 219,972 net subscriber additions for 2022, up 23% (2021: 179,485)

“It is encouraging that in our first year as a NASDAQ listed company, our subscriber growth for 2022 was in line with our growth outlook. I am pleased with Karooooo’s resilience and execution despite the persistent operating headwinds resulting from the Covid-19 pandemic during the period,” commented Karooooo founder CEO, Zak Calisto.

Karooooo to report Fourth Quarter and Full Year 2022 Financial Results on April 27, 2022

Karooooo will report financial results for the fourth quarter and full year ended February 28, 2022 on Wednesday, April 27, 2022 after 04:00 p.m. Eastern Time. Karooooo will host a corresponding Zoom webinar on Thursday, April 28, 2022 at 08:00 a.m. Eastern Time (02:00 p.m. South African time; 08:00 p.m. Singaporean time). Investors are invited to join the Zoom webinar at: https://us02web.zoom.us/j/89427800885

Webinar ID: 894 2780 0885

Telephone:

• US (New York) Toll-free: +1 646 558 8656
• South Africa Toll-free: +27 87 551 7702

Replay available at www.karooooo.com approximately three hours after the live event.

About Karooooo

Karooooo, headquartered in Singapore, is a leading global provider of an on-the-ground operational IOT SaaS cloud that maximizes the value of transportation, operations and workflow data by providing insightful real-time data analytics to over 1,525,000 connected vehicles and equipment. For more information, visit www.karooooo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220406005594/en/

Investor Relations

Phillipe Welthagen

IR@karooooo.com

+27 84 512 5393



Media

media@karooooo.com

Source: Karooooo Ltd.

FAQ

When will Karooooo report its 2022 financial results?

Karooooo will report its Fourth Quarter and Full Year 2022 Financial Results on April 27, 2022.

What was the total number of subscribers for Karooooo in 2022?

Karooooo had a total of 1,525,972 subscribers in 2022, reflecting a 17% increase from the previous year.

How many net subscriber additions did Karooooo achieve in 2022?

Karooooo achieved net subscriber additions of 219,972 in 2022, which is a 23% increase from 2021.

What challenges did Karooooo face during 2022?

Karooooo faced persistent operating challenges due to the Covid-19 pandemic during 2022.